No returns from mining?

[another random person]

I started mining yesterday and mined for a solid 12 hours, however this morning when I checked my wallet, it was still empty, 0.00000000 ETH. I'm extremely confused, as the mining program was running perfectly fine, my wallet address was 100% correct and I was operating at a steady 41 MHs, which was meant to get me a return of approximately $8 per 24 hours of mining (ignoring electricity). Am I doing something wrong or is METAMASK an unreliable wallet?

 

Any help would be greatly appreciated.

[yathis]

$8 a day is pretty low, tho depending on how much you spent to get to that point.

[Enderman]

You know that there are better ways to waste money than mining right?

Try gambling, lottery tickets, or simply this:

[another random person]

3 minutes ago, CUDA_Cores said:

They pay you based on a block schedule. As in you are probably paid in some sort of set interval like 24-48 hours. 

 

You will see payment soon. 

Oh I Dug into the website of the pool I mine with and it says that I will receive payment once my unpaid balance reaches 1 ETH...

 

 

[rn8686]

Just now, Enderman said:

You know that there are better ways to waste money than mining right?

Try gambling, lottery tickets, or simply this:

Dont see how mining is a waste, can make about 5 AUD per day on my 1070 after power costs (I didnt even buy it specifically for mining, just doing it for ROI). 

[Enderman]

1 minute ago, rn8686 said:

Dont see how mining is a waste, can make about 5 AUD per day on my 1070 after power costs (I didnt even buy it specifically for mining, just doing it for ROI). 

Highly doubt you're making positive money after power cost.

Also, there's degradation on the hardware, loss of resale value, waste heat which makes your AC work harder, etc.

[rn8686]

2 minutes ago, Enderman said:

Highly doubt you're making positive money after power cost.

Also, there's degradation on the hardware, loss of resale value, waste heat which makes your AC work harder, etc.

I most certainly am, just said 5 AUD after power costs (About $1.2 for power per day). Dont have AC (Have PC in basement, cool enough down there) and GPU temp stays at 45-50c, plenty safe for 24/7. 

[Enderman]

Just now, rn8686 said:

I most certainly am, just said 5 AUD after power costs (About $1.2 for power per day). Dont have AC (Have PC in basement, cool enough down there) and GPU temp stays at 45-50c, plenty safe for 24/7. 

That's not how you measure the power. You take your mining profit, subtract your power bill, and then cry at how much money you lost.

Also, a GPU is not made to work at 100% 24/7 even if it is at safe temps.

It still degrades the card far more than regular use and will cause it to fail in a few years.

[rn8686]

Just now, Enderman said:

That's not how you measure the power. You take your mining profit, subtract your power bill, and then cry at how much money you lost.

Also, a GPU is not made to work at 100% 24/7 even if it is at safe temps.

It still degrades the card far more than regular use and will cause it to fail in a few years.

It is not at 100% load (Mining doesnt need to use whole GPU), nor would that cause it to fail. As I said, I am subtracting power use (6.6 AUD - 1.2, closer to $6 if anything). 

[mariushm]

55 minutes ago, another random person said:

Oh I Dug into the website of the pool I mine with and it says that I will receive payment once my unpaid balance reaches 1 ETH...

 

 

1 ETH could take up to 1 month or more to mine.

 

I'd suggest going with another pool .. for example ethermine.org pays out at minimum 0.05 eth threshold which for a single RX 470 card running 24/7 it's every 4-5 days.

 

(i just used the ethereum wallet from the ethereum website and ethminer / genoils miner with the instructions from the main page of ethermine )

[2FA]

4 hours ago, mariushm said:

I'd suggest going with another pool .. for example ethermine.org pays out at minimum 0.05 eth threshold which for a single RX 470 card running 24/7 it's every 4-5 days.

WATTTT, when did they change that? That's awesome since the minimum used to be 0.1ETH.

 

 

[another random person]

4 hours ago, mariushm said:

1 ETH could take up to 1 month or more to mine.

 

I'd suggest going with another pool .. for example ethermine.org pays out at minimum 0.05 eth threshold which for a single RX 470 card running 24/7 it's every 4-5 days.

 

(i just used the ethereum wallet from the ethereum website and ethminer / genoils miner with the instructions from the main page of ethermine )

Lmao I am mining with the ethermine pool. But yeah I discovered the page that allows for me to edit my threshold.

 

20 minutes ago, DeadEyePsycho said:

WATTTT, when did they change that? That's awesome since the minimum used to be 0.1ETH.

 

 

Well they do have a surcharge of 0.001 ETH with each payout under the 1 ETH recommended payout threshold.

 

5 hours ago, CUDA_Cores said:

whether mining is the right or wrong thing to do, it really isn't up to you. OP seems pretty firm on mining, even if others think it is not economical. Even I think it's not a good idea!

I've enjoyed mining quite a lot and since I have solar panels to cover the cost during the day electricity doesn't hurt much. Many also stated that hardware costs are too an issue but it doesn't bother me because when my PC isn't mining iI'd typically use it for content creation and other things I built the system for. 

 

5 hours ago, rn8686 said:

It is not at 100% load (Mining doesnt need to use whole GPU), nor would that cause it to fail. As I said, I am subtracting power use (6.6 AUD - 1.2, closer to $6 if anything). 

Yes exactly so, because before mining I ran BOINC and that used all my system resources up to 100% for as long as I was using the PC for. So the switch doesn't really change much. 

 

5 hours ago, Enderman said:

That's not how you measure the power. You take your mining profit, subtract your power bill, and then cry at how much money you lost.

Also, a GPU is not made to work at 100% 24/7 even if it is at safe temps.

It still degrades the card far more than regular use and will cause it to fail in a few years.

I have solar panels so the electricity price doesn't hit that hard but I can still make a nice profit even if I didn't have solar. Much to my surprise, probably because I'm mining Ether. 

 

 

[Enderman]

6 minutes ago, another random person said:

I have solar panels so the electricity price doesn't hit that hard but I can still make a nice profit even if I didn't have solar. Much to my surprise, probably because I'm mining Ether. 

The price of the solar panels does though.

You'll never make that much back from mining...

[Teddy07]

5 hours ago, rn8686 said:

....

I thought Australians getting ripped off with energy too? We Germans certainly do

[another random person]

Just now, Enderman said:

The price of the solar panels does though.

You'll never make that much back from mining...

But I have from the money saved during everyday appliance and electrical usage.

[rn8686]

Just now, Teddy07 said:

I thought Australians getting ripped off with energy too? We Germans certainly do

We do, but I can still make a decent profit even so (24c/KWh). 

[Enderman]

Just now, another random person said:

But I have from the money saved during everyday appliance and electrical usage.

Which is close to nothing compared to the cost of solar panels...

[another random person]

Just now, Teddy07 said:

I thought Australians getting ripped off with energy too? We Germans certainly do

Well I'm not sure...I pay 0.22 AUD per KW/h I use, which I'd consider fair.

[Teddy07]

Just now, another random person said:

Well I'm not sure...I pay 0.22 AUD per KW/h I use, which I'd consider fair.

0,24 euro per kw/h here in Germany.

[another random person]

Just now, Enderman said:

Which is close to nothing compared to the cost of solar panels...

Not quite, Australia had the Solar rebate so Solar panels would pay themselves off for the price paid in under a decade.

[another random person]

Just now, Teddy07 said:

0,24 euro per kw/h here in Germany.

Wow okay thats 0.36 AUD, A bit pricey.

[Enderman]

Just now, another random person said:

Not quite, Australia had the Solar rebate so Solar panels would pay themselves off for the price paid in under a decade.

Oh wow, a decade, so soon, about the same time you will need to replace them again!

[Teddy07]

2 minutes ago, another random person said:

Wow okay thats 0.36 AUD, A bit pricey.

yes because all those hippies want green energy without thinking about the consequences.  There are a number of people who have problems with their electricity bill.