cryptocurrency Cryptocurrency Mining

[calum47]

Hey everyone, I'm new to the forum although I've followed LTT for a long time now.

So basically I have varius doubts for cryptocurrency mining. Me and my friend are willing to put in the effort to do it, but we don't want to get an ASIC machine, we would love to build our own mining rig. And yes, we know we are quite late to some crypto partys lol, but we still would like to do it.

The very first thing is choosing the crypto currency, because there's some like BTC wich is going down slowly so obviusly we arent going to mine those aswell as the difficulty and stuff. I was mostly interested in Ethereum and Zcash (Opinions?) I would like to know how do you guys chose (those who mine) wich coins to mine, as there are so many different factors around it. That'd be the very first step really. After that, Graphics cards, I was actually thinking of just going with 4 or 6 rx470 or 480 but then I read that depending on what coin you mine you should go with X card or Y card, could someone explain to me this please??

 

At the moment that's it, I dont want to make a long post.

 

Thanks in advanced!!

-Calum

[Canada EH]

Only worth it if you can get ahold of top gpus, like say from a pawnshop or in the online classifieds. Get close to them and they might be your go to guy for offloading their legit products. My brother bought a 1080ti I wonder if he is mining. Could make some decent coin with the right setup.

[Egg-Roll]

best place for approx costs/profits.

whattomine.com

 

I have a 1070. Anything less from Nvidia is likely a waste of money (but could be wrong due to pricing surge...) according the the site a 1060 performs slightly better in some cryptos better than the 480

 

Avoid NiceHash for at least a little while, IF you decide to go with them make sure you withdraw as frequently as possible (fees permitting), they recently got hacked and finally came back up.

 

When I started cryptomining I was doing DGB, made about $5-7 USD a day. I'm currently doing VTC which is doing about $3-4, if it goes any lower I'll switch to something else.

I've made about $300USD since sept on cryptomining but I've either spent it on stupid crypto cats or 1 or 2 sites that accept crypto, everything else was/is in other currencies including about $66USD in DOGE 

 

But yea, check out that site I gave for approx value, look at a few cards locally available within your price range and if they are there see what coins are worth it and so on.

[calum47]

2 minutes ago, Egg-Roll said:

best place for approx costs/profits.

whattomine.com

 

I have a 1070. Anything less from Nvidia is likely a waste of money (but could be wrong due to pricing surge...) according the the site a 1060 performs slightly better in some cryptos better than the 480

 

Avoid NiceHash for at least a little while, IF you decide to go with them make sure you withdraw as frequently as possible (fees permitting), they recently got hacked and finally came back up.

 

When I started cryptomining I was doing DGB, made about $5-7 USD a day. I'm currently doing VTC which is doing about $3-4, if it goes any lower I'll switch to something else.

I've made about $300USD since sept on cryptomining but I've either spent it on stupid crypto cats or 1 or 2 sites that accept crypto, everything else was/is in other currencies including about $66USD in DOGE 

 

But yea, check out that site I gave for approx value, look at a few cards locally available within your price range and if they are there see what coins are worth it and so on.

Thanks for the information. 
But how do you choose what coin to mine? There must be a reason why you would go after one and not the other.

[Egg-Roll]

1 minute ago, calum47 said:

Thanks for the information. 
But how do you choose what coin to mine? There must be a reason why you would go after one and not the other.

The one that didn't lag my computer to unbearable measures

 

Some algorithms like NeoScrypt (I think), weirdly bottlenecks my computer to the point where it took 5 mines to stop it. It might be a issue on my end due to windows 10 being on a HDD instead of a SSD idk. but for the $0.50 difference for a usable computer it was not a hard decision.

 

Actually what you could do is get NiceHash and run its benchmarking, whatever doesn't lag your computer is a winner. I can also game with my currencies running (on lower graphics settings but not bad just high instead of ultra) with minimal loss in hashing power.

 

Also might want to look into a OS like Ubuntu because you might mine better on it over windows. Possibly with AMD cards.