Mining on a low budget

[computer1up]

So I was thinking of building my own mining rig. However, my budget is really small and I can't really afford to buy another graphics card, at least not at the moment. My RX470 is currently in my main gaming machine, but I will not use that card to mine as I don't want to leave my main rig running all day, all night in my room, because it makes the ambient temperature rise quite a bit and the noise will keep me from sleeping. So, I'm looking at placing a machine in one of the rooms not used for sleeping. But my second most-powerful card is just a mere GTX 560 TI, which I've read can't even mine Euthereum.

 

Am I out of options here? Or is there still something that I can do which can at least mine a little and doesn't require a large investment?

[Hiitchy]

From what I've read in most of these mining topics is that certain video cards have had their prices skyrocket with new cryptocurrencies introduced and whatnot. If you're on a budget and want to mine, it wouldn't be cost effective to attempt to mine since you might not actually break even with your costs of running your rig 24/7. Some have reported getting around 1.50-2.50 Euros a day depending on their cards, but these were pretty low end ones as well.

[computer1up]

Yeah, it seems like the prices for decent GPU's are quite high these days. Glad I bought my RX470 way before that though, when I still paid 250 euro's for an 8GB MSI card. 

[Hiitchy]

4 minutes ago, computer1up said:

Yeah, it seems like the prices for decent GPU's are quite high these days. Glad I bought my RX470 way before that though, when I still paid 250 euro's for an 8GB MSI card. 

Yeah, my advice would be if you really want to mine, look at the prices of the recommended cards used by miners, and save up. There are people who have bought 5-6 cards just so they could run their rigs 24/7 and break even. You need to remember that these cards are running at nearly 100% all the time, and with that kind of usage comes a pretty substantial electricity bill if you're ready for that.  

[computer1up]

True, maybe I'm actually out of options. Shame, because mining seems very interesting to me. And saving up for that won't happen, I've got other priorities to save up for. 

 

Quote

There are people who have bought 5-6 cards just so they could run their rigs 24/7 and break even

I literally sold one of my PSU's to a former co-worker for his mining rig two weeks ago, since his blew up. He's using a rig like that. 

[knightslugger]

What's your reason for GPU mining? I ask because if it's for 2nd source income, ya better sit down. I got news for ya and it's not going to be pretty...

[computer1up]

Just now, knightslugger said:

What's your reason for GPU mining? I ask because if it's for 2nd source income, ya better sit down. I got news for ya and it's not going to be pretty...

Actually, I thought it would be fun to do and earn a tiny bit of cash while doing it. It's not particularly important to me though. 

[knightslugger]

what part of it seems fun to you?

[computer1up]

Just now, knightslugger said:

what part of it seems fun to you?

Setting up a rig, maintaining it, and just have something to think about and stuff. Just a fun project. And learning how it works. 

[knightslugger]

3 minutes ago, computer1up said:

Setting up a rig, maintaining it, and just have something to think about and stuff. Just a fun project. And learning how it works. 

well if you've built a computer before, you've pretty much set up a mining rig. Mining isn't really about having to think about anything. It just computes all day. You build a computer just like you normally would any computer, install and configure a program like you normally would any program, and you walk away. When it breaks, you have to maintain it to working order just like any other rig.

 

...That doesn't really seem very fun to me...

[computer1up]

Just now, knightslugger said:

well if you've built a computer before, you've pretty much set up a mining rig. Mining isn't really about having to think about anything. It just computes all day. You build a computer just like you normally would any computer, install and configure a program like you normally would any program, and you walk away. When it breaks, you have to maintain it to working order.

 

...That doesn't really seem very fun to me...

Not to you, but even though I've built (and demolished) quite a number of PC's in the past, I always have an itch to test... new hardware configurations and use my old components that would otherwise have no purpose. Besides, I like the idea of running something server-like at home, and besides my basic NAS functionality, I don't have anything else that would need a server-like system. I imagine myself to become the IT guy of some company and drool over the new server hardware we get in... Weird right? 

[LienusLateTips]

Step 1. Build a rig

Step 2. Install an OS

Step 3. Install mining software

 

 

 

 

then let it sit there and barely make any money while losing money by electricity bill.

 

 

Not exciting or fun

[computer1up]

3 minutes ago, JDE said:

Step 1. Build a rig

Step 2. Install an OS

Step 3. Install mining software

 

 

 

 

then let it sit there and barely make any money while losing money by electricity bill.

 

 

Not exciting or fun

Maybe to you, but I'm not going to repeat myself. 

 

Besides, I won't even do it because of the electricity bill, unless I would have something that could break even. But it seems like I cannot, so there's that. 

[knightslugger]

7 minutes ago, computer1up said:

Not to you, but even though I've built (and demolished) quite a number of PC's in the past, I always have an itch to test... new hardware configurations and use my old components that would otherwise have no purpose. Besides, I like the idea of running something server-like at home, and besides my basic NAS functionality, I don't have anything else that would need a server-like system. I imagine myself to become the IT guy of some company and drool over the new server hardware we get in... Weird right? 

Well i donno about you, but when i see something of mine running full throttle knowing full well that the $500 GPU could fail at any moment, and it's MY MONEY that goes down the tubes, i get anxious.

 

6 minutes ago, JDE said:

Step 1. Build a rig

Step 2. Install an OS

Step 3. Install mining software

 

 

 

 

then let it sit there and barely make any money while losing money by electricity bill.

 

 

Not exciting or fun

exciting, nor educational (except for the possibility of a hard lessoned learned).

[computer1up]

Just now, knightslugger said:

Well i donno about you, but when i see something of mine running full throttle knowing full well that that $500 GPU could fail at any moment, and it's MY MONEY that goes down the tubes, i get anxious.

 

exciting, nor educational (except for the possibility of a hard lessoned learned).

Jeez, I can't even afford new GPU's to begin mining with so I have nothing to lose anyway. Besides, it seems like I have to repeat myself anyway, maybe it's not exciting to you but it certainly would be to me. 

 

You know how bored a student can get, waiting for the last few weeks of summer holidays to go over and having no idea what to do with all the spare time that I have? I tried installing macOS El Capitan on an unsupported, underpowered Mac Mini yesterday, purely out of boredom. Not because I had to, not because it would actually help me in any way, but because I had nothing better to do anyway. 

 

My goal with this topic was initially for example to see if there were cryptocurrencies that would actually be able to mine a little on my old GTX 560 TI, or to see if I could get started with minimal investment. 

[Zando_]

17 minutes ago, computer1up said:

Jeez, I can't even afford new GPU's to begin mining with so I have nothing to lose anyway. Besides, it seems like I have to repeat myself anyway, maybe it's not exciting to you but it certainly would be to me. 

 

You know how bored a student can get, waiting for the last few weeks of summer holidays to go over and having no idea what to do with all the spare time that I have? I tried installing macOS El Capitan on an unsupported, underpowered Mac Mini yesterday, purely out of boredom. Not because I had to, not because it would actually help me in any way, but because I had nothing better to do anyway. 

 

My goal with this topic was initially for example to see if there were cryptocurrencies that would actually be able to mine a little on my old GTX 560 TI, or to see if I could get started with minimal investment. 

Then don't mine, make a hackintosh or set up a linux distro or install Ubuntu server and learn to use the command line or build a linux install from the kernel up or a whole bunch of stuff you can do with you current software that will actually help you in an IT job. Oh, and learn all about networking protocols and all that gobbledy-gook. I didn't, and now I need to set up network monitoring software at work, and IDK what I'm even looking at or how it works. And it's much more fun to tinker with stuff than slowly burn your GPU to death mining, while also heating up your room more and eating a ton of power. Not to mention the noise...

[knightslugger]

17 minutes ago, computer1up said:

Jeez, I can't even afford new GPU's to begin mining with so I have nothing to lose anyway. Besides, it seems like I have to repeat myself anyway, maybe it's not exciting to you but it certainly would be to me. 

 

You know how bored a student can get, waiting for the last few weeks of summer holidays to go over and having no idea what to do with all the spare time that I have? I tried installing macOS El Capitan on an unsupported, underpowered Mac Mini yesterday, purely out of boredom. Not because I had to, not because it would actually help me in any way, but because I had nothing better to do anyway. 

 

My goal with this topic was initially for example to see if there were cryptocurrencies that would actually be able to mine a little on my old GTX 560 TI, or to see if I could get started with minimal investment. 

Well if that's what you want to do, fine. Just keep in mind that because of the millions of people just like yourself who got bored and wanted to check it out has caused the difficulty of mining to increase four fold. I was making $7USD/day on the singular 1070 I have and it is now down to less than $2USD/day. That is the financial impact you could have at the expense of everyone else on the network because of your boredom, and there are many people who sell their computing power to a network as a full time job. That's money lost from their pockets... because you (and everyone else who jumped into CC mining with their gaming rig) were bored.

 

I refuse to take that lightly.

[computer1up]

Just now, Zando Bob said:

Then don't mine, make a hackintosh or set up a linux distro or install Ubuntu server and learn to use the command line or build a linux install from the kernel up or a whole bunch of stuff you can do with you current software that will actually help you in an IT job. Oh, and learn all about networking protocols and all that gobbledy-gook. I didn't, and now I need to set up network monitoring software at work, and IDK what I'm even looking at or how it works. And it's much more fun to tinker with stuff than slowly burn you GPU to death mining, while also heating up your room more and eating a ton of power. Not to mention the noise...

make a hackintosh: done that over and over again. 
 install Ubuntu server: I installed CentOS on a few servers at one of my previous internships. 

use the command: I already can do that quite a bit, enough for what I want anyway. 

build a linux install from the kernel up: if I actually could program, which I'm trying to learn BTW.

learn all about networking protocols: I'll be learning that at school, seems much more effective...

 

Thing is, I started becoming interested in mining a while back, but never had the chance to start. And that's what this topic was about anyway, not finding other things to do... Lmao

[knightslugger]

Just now, computer1up said:

make a hackintosh: done that over and over again. 
 install Ubuntu server: I installed CentOS on a few servers at one of my previous internships. 

use the command: I already can do that quite a bit, enough for what I want anyway. 

build a linux install from the kernel up: if I actually could program, which I'm trying to learn BTW.

learn all about networking protocols: I'll be learning that at school, seems much more effective...

 

Thing is, I started becoming interested in mining a while back, but never had the chance to start. And that's what this topic was about anyway, not finding other things to do... Lmao

maybe make a better mining program?

[KuJoe]

This is all you need to get started: https://www.amazon.com/Truper-31614-5-Pound-Mattock-Fiberglass/dp/B000KL2V6A

 

Now you're ready to go mining and it's 100% profit after the first $50. No seriously, this would be much more profitable than mining for cryptocurreny right now if you don't have cheap electricity and a closet full of spare AMD cards.

[KuJoe]

If you want to mine for the "excitement" of it, go grab any benchmark that pushes your GPU and CPU and run it... the experience is identical.

[computer1up]

5 minutes ago, knightslugger said:

Well if that's what you want to do, fine. Just keep in mind that because of the millions of people just like yourself who got bored and wanted to check it out has caused the difficulty of mining to increase four fold. I was making $7USD/day on the singular 1070 I have and it is now down to less than $2USD/day. That is the financial impact you could have at the expense of everyone else on the network because of your boredom, and there are many people who sell their computing power to a network as a full time job. That's money lost from their pockets... because you (and everyone else who jumped into CC mining with their gaming rig) were bored.

 

I refuse to take that lightly.

LOL, what you're saying is that mining should only be available to the early-birds, and no-one can join in anymore. At least, that's what I understand from it. Sorry, but I don't think that's fair. I mean, why would it be our problem that you guys relied on an income subject to this kind of change? That would be like saying: "Yeah, I make an investment in buying and selling Microsoft-stocks and making a living off of that, but Microsoft is doing crap lately so it's Microsoft's fault that I earn too little money to live off"

 

2 minutes ago, KuJoe said:

If you want to mine for the "excitement" of it, go grab any benchmark that pushes your GPU and CPU and run it... the experience is identical.

I would say no, the experience would be far from identical. I think benchmarking is boring AF. Sorry, but you guys can't decide for me what I think is fun and what's not. 

 

I'm going to get this thread closed. My question is answered and it seems like we won't be able to agree, and I don't want this to escalate. 

[TheRandomness]

-Thread locked as per request of OP.