How do I start mining coins?

[jtmoseley]

How should I start mining? I've been mining with nicehash (With my 1080 in my gaming system) and this month i've made like 70 dollars. I don't like having to use nicehash, and I have heard that there are other options that are superior. How would I go about doing this? Would I need a hardware wallet? How do I even start? 

[Guest]

You start by doing a few days of research. 

[Dissitesuxba11s]

Here is a detailed tutorial for you:

 

[lewdicrous]

You don't.

[SteveGrabowski0]

24 minutes ago, lewdicrous said:

You don't.

Why? You don't like money?

[lewdicrous]

4 minutes ago, SteveGrabowski0 said:

Why? You don't like money?

It's not about the money

[jtmoseley]

8 hours ago, lewdicrous said:

It's not about the money

What's it about then? You being mad about GPU prices? No offence... But I bought the 1080 before mining was considered for me. So you can frick the frock off with your miner hating shuckledoos directed at me trying to get some more money on the side.

[lewdicrous]

2 hours ago, jtmoseley said:

What's it about then? You being mad about GPU prices? No offence... But I bought the 1080 before mining was considered for me. So you can frick the frock off with your miner hating shuckledoos directed at me trying to get some more money on the side.

Nothing to do with price spikes, everything to do with electricity.

USE SOLAR PANELS AND A UPS!!! _{Might be cheaper in the long run lol}

[jtmoseley]

9 hours ago, lewdicrous said:

Nothing to do with price spikes, everything to do with electricity.

USE SOLAR PANELS AND A UPS!!! _{Might be cheaper in the long run lol}

I live in kentucky. We have cheap electricity so it doesn't matter for me

[AugOwnz]

Currently with a 1080 the best option is Zcash, you can mine it with EWBF's cuda miner (works for all equihash coins). For now it gives you 3.26$ a day before power costs (that number is while mining 24/7).

[jtmoseley]

Just now, AugOwnz said:

Currently with a 1080 the best option is Zcash, you can mine it with EWBF's cuda miner (works for all equihash coins). For now it gives you 3.26$ a day before power costs (that number is while mining 24/7).

That number sounds good considering the bitcoin price right now... But is that better than mining with nicehash?

[AugOwnz]

Use whattomine.com, currently it isn't. Nicehash doesn't really pay you the coins that you mined but what the users that bought mining power paid.

[Daniel644]

there is nothing inherently wrong with Using Nicehash, it gets a lot a crap, especially with the December hack and yet to pay back the stolen funds and the recent announcement they are only going to payback the first 10% tomorrow then we have to wait an unspecified amount of time for the rest to be paid back which i'm not super happy about, you can still do Nicehash you just need to do a little tuning, step 1 is to run the Benchmark on all coins and find which coin pays the best per day and set Nicehash to mine ONLY that coin, Nicehashes switching algo thing sucks and cuts your daily profits by like 10% from all the starting and stopping, then once you find the best earning coin for your card you need to tweak your "overclock", figure out how far you can push the clockspeed or the memory clock and what settings are best for that coin then how far can you reduce the power limit without giving up to much hashrate, and doing some math to see what makes more sense to run power limit wise, like if going down from 100% power limit to 72% Power Limit saves you 50 watts (which it will save you way more then that in reality) and you see a 5-10% drop in hashrate then you gotta do the math and see what earns the highest profit, like say if 72% Power Limit earns you 3 dollars a day before electricity and 100% Power Limit nets you 3.30 per day but takes an extra 50 watts then you would have to look at your electric costs for this example we'll use US national average of 11 cents per Kw an extra 50 watt draw would be an extra 1.2Kw per day which would be an extra 13ish cents so the raw profit of 100% power limit would be 17 cents more per day, but then there is the heat issue, if you have a blower card you'll run much hotter to hold that 100% power limit, you really just gotta get a power meter so you know what your system power draw from the wall is and dial in the best settings you can find for your hardware and remember not all coins use the same settings, like with Ethereum you crank the shit out of the Mem Clock but with Nist5 you reduce it to negative numbers and push the core clock well beyond what is stable for gaming (or even just running the windows desktop, I crash the video driver sometimes when I exit mining because of the clock settings).