Cryptocurrency Mining

[Bruno_A]

Hey, guys, I wanted to get into cryptocurrency and since people say building a dedicated rig for coin mining, I was wondering if I should do it on my gaming machine when I'm sleeping or at college. I currently have an MSI AERO GTX 1070 and the thing goes up to 83ºC under load, which is quite high but would be running the card at 83ºC for about, say 12h a day, significantly reducing the card's life? Or is it something that it's totally worth to do? Getting a custom cooler to cool down the graphics card is an option. The arctic ones are ugly, in my opinion, but they do a great job. Also, regardless of doing what I said above is worth it or not, what would be a good bitcoin wallet and a good, trustworthy website to buy it online?

 

EDIT: Forgot to mention that the card literally cost me £90 (nope, not joking at all) and I don't pay for the electricity.

 

Many thanks, Bruno.

[Bajantechnician]

1 minute ago, bruny06 said:

Hey, guys, I wanted to get into cryptocurrency and since people say building a dedicated rig for coin mining, I was wondering if I should do it on my gaming machine when I'm sleeping or at college. I currently have an MSI AERO GTX 1070 and the thing goes up to 83ºC under load, which is quite high but would be running the card at 83ºC for about, say 12h a day, significantly reducing the card's life? Or is it something that it's totally worth to do? Getting a custom cooler to cool down the graphics card is an option. The arctic ones are ugly, in my opinion, but they do a great job. Also, regardless of doing what I said above is worth it or not, what would be a good bitcoin wallet and a good, trustworthy website to buy it online?

 

Many thanks, Bruno.

what are you mining?

[Bruno_A]

2 minutes ago, Bajantechnician said:

what are you mining?

I'm not mining anything at all. I was just wondering if I should do it when I'm not using my PC or when I'm not home.

 

[Dissitesuxba11s]

Mining for profit is essential calculated by how much you mine minus the cost of electricity to run your computer. Check out the profitability of your PC using the first part of the thread below.

 

 

[emosun]

15 minutes ago, bruny06 said:

I don't pay for the electricity.

If you have no electrical overhead then have at it!

 

The ideal setup involves literally any type of machine using free electricity.

[Crunchy Dragon]

9 minutes ago, Dissitesuxba11s said:

Mining for profit is essential calculated by how much you mine minus the cost of electricity to run your computer. Check out the profitability of your PC using the first part of the thread below.

He said he doesn't pay for the electricity.

 

OP: You could definitely mine with a 1070, it's a pretty good card for it. CGMiner is the best recommended program for mining last I checked and it's also recommended to have your own wallet

[Dissitesuxba11s]

4 minutes ago, Crunchy Dragon said:

He said he doesn't pay for the electricity.

 

Oh didn't see that edit when I posted.

 

OP: With electricity out the way, just try it. Now you would have to judge if the noise when sleeping is manageable (if it is in the same room).

[Bruno_A]

3 minutes ago, Crunchy Dragon said:

it's also recommended to have your own wallet

Thanks for your reply. What do you mean by "having your own wallet"? As far as I understand, there's web-based wallets and software-based wallets. 

[Dissitesuxba11s]

2 minutes ago, bruny06 said:

What do you mean by "having your own wallet"? As far as I understand, there's web-based wallets and software-based wallets. 

They also have hardware and paper wallets to keep your crypto offline.

[Bruno_A]

3 minutes ago, Dissitesuxba11s said:

Oh didn't see that edit when I posted.

 

OP: With electricity out the way, just try it. Now you would have to judge if the noise when sleeping is manageable (if it is in the same room).

Probably not, although, I go to college during the week and work during the weekends, which means I'm not home during the day and therefore noise wouldn't be a problem. All I'm worried about is pretty much the "wear" on my GPU.

[Dissitesuxba11s]

1 minute ago, bruny06 said:

Probably not, although, I go to college during the week and work during the weekends, which means I'm not home during the day and therefore noise wouldn't be a problem. All I'm worried about is pretty much the "wear" on my GPU.

The wear isn't that much and you will probably upgrade before that happens.

[Bajantechnician]

33 minutes ago, bruny06 said:

Thanks for your reply. What do you mean by "having your own wallet"? As far as I understand, there's web-based wallets and software-based wallets. 

something that you can transfer coins to that isn't through a website. 

[Bruno_A]

44 minutes ago, Bajantechnician said:

something that you can transfer coins to that isn't through a website. 

so, will a software wallet do the trick? Also, what software should I use to mine and which coin/s should I mine? Thanks.

 

[Bajantechnician]

2 hours ago, bruny06 said:

so, will a software wallet do the trick? Also, what software should I use to mine and which coin/s should I mine? Thanks.

 

I personally mine them and direct them to a separate wallet with a key code

[Bruno_A]

56 minutes ago, Bajantechnician said:

I personally mine them and direct them to a separate wallet with a key code

After doing some research and watching a few videos, I was able to create a wallet at myethereumwallet and started mining. I'm getting 26 MHs on my 1070. I decided to set the fan to 100%, which reduces the temperature to about 70ºC.

[Tadrith]

2 hours ago, bruny06 said:

After doing some research and watching a few videos, I was able to create a wallet at myethereumwallet and started mining. I'm getting 26 MHs on my 1070. I decided to set the fan to 100%, which reduces the temperature to about 70ºC.

If you want to reduce the temps and power draw and increase the hashrate at the same time, reduce the power target for the card to around 50% and pump up the memory overclock.  You should be able to take the fan off of 100% that way as well.  Mining can deal with a much higher memory overclock than gaming can.  Just remember to set the settings back to normal when you are using the computer.

[Bajantechnician]

10 hours ago, bruny06 said:

After doing some research and watching a few videos, I was able to create a wallet at myethereumwallet and started mining. I'm getting 26 MHs on my 1070. I decided to set the fan to 100%, which reduces the temperature to about 70ºC.

Think about doing claymore dualmine through the nanopool pool

[Bruno_A]

6 hours ago, Bajantechnician said:

Think about doing claymore dualmine through the nanopool pool

I'm using claymore, although, I'm only mining ethereum through nanopool. By dualmine, you mean mining two cryptocurrencies at the same time? I'm sorry about my questions, but I only started mining yesterday.  

[Bajantechnician]

5 hours ago, bruny06 said:

I'm using claymore, although, I'm only mining ethereum through nanopool. By dualmine, you mean mining two cryptocurrencies at the same time? I'm sorry about my questions, but I only started mining yesterday.  

mhm, thats exactly what I mean  dual mine uses 2 algorithms that don't collide and mine 2 coins at the same time, making it very efficient. and don't worry, thats why were here

[Bruno_A]

1 hour ago, Bajantechnician said:

mhm, thats exactly what I mean  dual mine uses 2 algorithms that don't collide and mine 2 coins at the same time, making it very efficient. and don't worry, thats why were here

Thanks a lot for your input. I'm mining Ethereum, which currency should I mine along with Ethereum?

[aubryscully]

5 hours ago, bruny06 said:

Thanks a lot for your input. I'm mining Ethereum, which currency should I mine along with Ethereum?

Ethereum + Decred is pretty standard for dual mining. There are other options though.

[Geralt]

Just curious since you've got a 1070, have you tried mining Zcash on nanopool as well?

[Bruno_A]

10 hours ago, aubryscully said:

Ethereum + Decred is pretty standard for dual mining. There are other options though.

Thanks a lot for the input 

[Bruno_A]

4 hours ago, Geralt said:

Just curious since you've got a 1070, have you tried mining Zcash on nanopool as well?

I haven't, why? Should I try?

[aubryscully]

4 hours ago, bruny06 said:

I haven't, why? Should I try?

My 1060 6GB is most profitable on Zcash for me. And I switched from nanopool over to flypool since it seemed like they were taking a rather significant cut of my hashing power.