HOW TO START MINING

[hat]

Not to mention thats assuming all things are equal. If your under volting enough then your not clocking as high and you are probably earning less because your machine is slower.

Actually, it's a lot less than you'd think. At the moment it's hard to even tell a difference just because of the slight fluctuations in the market, Nicehash switching algorithms, etc. There isn't much of a difference on my system between 80% power target and 112% power target... well, except the heat output. The only reason I ever run more than 80% power target is to generate more heat if I get cold.

80% power target = 240w
100% = 300
112% = 336

From stock power target I can save 60w already and that's only on 2 cards. If you have a 6 cards, you save 180w. That's more savings than being at stock and removing a card from the system entirely.

 

[virginiebertho]

To reply to @hat , I'm living, in my parents house and they don't mind paying for electricity financially.
So I can mine with NiceHash but doesn't exist better programs ?, or most secure.
Claymore dual mining it is good ?
Thanks for all

 

[hat]

There's other ways besides Nicehash to mine, but I don't know them. Perhaps some other members could be more helpful with that.

Nicehash pays you in BTC, regardless of what you mine. I see DaggerHashimoto pop up a lot, which is an Ethereum algorithm. At the current moment, I have it set up for Nicehash to just pay me BTC in my Nicehash wallet, and I occasionally log in and manually transfer it to my Coinbase account.

There's nothing wrong with the Claymore dual miner. Nicehash is set up to automatically switch to the most profitable algorithm by default.

 

[virginiebertho]

Ok thank you, because I heard that nicehash wallets are quite easy to hack and once I have btc how can I transfer €

 

[hat]

I have my bank account linked to my coinbase account. If I want to sell my BTC for $ I simply sell BTC within coinbase, and when the transaction clears I will have the dollar amount in my coinbase account, which I then move to my bank account.

There are a number of steps involved, but the way I look at it, it's basically free money that builds up (albeit slowly) over time. For me, there's no reason not to at the moment.

The profitability is low, and I could make more money taking one extra day at work than I can mining for a while month. But it does build up over time, and it might be fun later to see what happens to the BTC price in the coming years. Mining has helped me a number of times in the past already. It partially paid for the car I'm driving now.

 

[virginiebertho]

Ok, so stop writing if you're driving.
And it is working with paypal (transfer) ?

 

[hat]

Ok, so stop writing if you're driving.

I didn't mean I was literally driving it while I was writing that post... I meant... it's the car I currently drive... when I drive... oh man that's funny

And it is working with paypal (transfer) ?

I'm not sure if there's a Paypal option... I don't think there is.

On a side note, it might be wise to set up a separate "burner" bank account specifically for use with Coinbase anyway, in case they get hacked or something.

On another side note, if you're gonna use Coinbase, take a look at this?

https://help.coinbase.com/en/coinbase/trading-and-funding/other/coinbase-card-faq.html

I don't think we can get this in the US, but you used the symbol "€" so it might be available in your region.

 

[virginiebertho]

I didn't mean I was literally driving it while I was writing that post... I meant... it's the car I currently drive... when I drive... oh man that's funny

I known

I'm not sure if there's a Paypal option... I don't think there is.

On a side note, it might be wise to set up a separate "burner" bank account specifically for use with Coinbase anyway, in case they get hacked or something.

On another side note, if you're gonna use Coinbase, take a look at this?

https://help.coinbase.com/en/coinbase/trading-and-funding/other/coinbase-card-faq.html

I don't think we can get this in the US, but you used the symbol "€" so it might be available in your region.

Ok so, I've create my coinbaise account.
Next step ?

 

[hat]

Next step for what?

To complete the flow of cash, you need to start mining with Nicehash. Nicehash gives you a "wallet" where they deposit your payments to. This is visible from your Nicehash account. Now that you have a Coinbase account, you should have a BTC wallet there, among many other crypto wallets. Forget about the others, since Nicehash only deals in BTC.

When you get some BTC in your Nicehash wallet, you can send this to your Coinbase BTC wallet. Make sure, at Coinbase, you select your BTC wallet and not some other crypto, because Nicehash will send BTC to a non-BTC wallet and it will be lost and there's nothing you can do about it.. Copy that address over at Nicehash when you do the withdrawl. I might do this... once a month or so, whenever I remember to do it. I used to mine directly to my Coinbase account through Nicehash, but I think there were some issues with payments not going through and whatever I earned being lost, so now I do it manually this way.

Now you'll have BTC in your Coinbase account. From there, you sell it and you'll get whatever currency in your Coinbase account, which can then be sent to your bank account, if you linked it. Paypal may or may not be an option, I'm not sure.

-ed Actually, I just looked at Nicehash, and apparently you can just add your bank account there now. It's up to you if you want to use Coinbase or not. At this point it looks like an unnecessary step in the process, however Coinbase is a pretty well established, respected exchange. It might be worth the few extra clicks to use Coinbase rather than going straight through Nicehash.

 

[yotano211]

I still say its not worth it, your parents power bill is going double or triple in price. They are going to notice, and we will see you here next month for, how to undervolt my graphics card thread.

What country do you live in?

 

[virginiebertho]

Paris, France

So, in Coinbase, I can "attach" the NiceHash wallet and xwhen Nicehash is mining, the btc are send to the coinbase wallet, and to Coinbase I can convert and tranfer it on bank account
That's it ?

 

[hat]

As I mentioned previously, I used to target my Coinbase wallet directly with Nicehash. I suggest you don't, and use the Nicehash wallet and transfer to the Coinbase wallet manually every so often. The reason I started doing this was because I wasn't receiving payments. My "unpaid balance" in Nicehash would be reset to 0 as if I had a payment, but it wouldn't show up in Coinbase. I'm not sure why. I haven't had any problems since I told Nicehash to mine into my Nicehash wallet, and transferring to Coinbase manually from my Nicehash account.

Again, I suggest you put as many cards as possible on one machine rather than running multiple machines. Whatever earnings you might make after the cost of the power cost to run the things is already slim, and you might even be in the red running multiple machines with just one or even two cards each. CPU mining is almost certainly not worth it, unless you just like to generate heat, and the type of CPU you have doesn't affect GPU mining at all. This is why any time you look at a real mining system, it's going to be based on a special motherboard with a low end chipset, but a crapton of PCI-E x1 slots and additional power connectors. It's also probably going to have a pretty darn cheap processor. Likely a Pentium, maybe even a Celeron. Probably cheap slow value RAM too, and in no large quantity. 8GB is probably enough even for a 10 card system.

In addition, use MSI Afterburner or something to lower the power target. Generally you want to overclock the VRAM a little bit, but not by much. You can give the VRAM a nice little comfortable bump, but don't push it to the edge. A power target around 80% seemed to be what most people were rolling with when GPU mining was actually a thing, and it's what I've done for years and it works. This is not only going to lop off a flat 20% from the power it takes to run the cards, but less power means less heat generated and it's easier on the cards, so they'll live longer.

 

[Deleted member 191766]

Not to mention thats assuming all things are equal. If your under volting enough then your not clocking as high and you are probably earning less because your machine is slower.

Earning one half, consuming one eighth

 

[Toothless]

Earning one half, consuming one eighth

Except, it's not going to actually run at 1/8th power. You'll never get a 300w card to run that low under normal means.

 

[hat]

Earning one half, consuming one eighth

Except, it's not going to actually run at 1/8th power. You'll never get a 300w card to run that low under normal means.

Right. You can't just cut voltage and clocks in half and expect it to run. Take Haswell for an example. The 4770k, for example, appears to have a stock voltage of ~1.1v for a 3.5GHz chip. At idle, it goes down to .8v, 800MHz. That's only a 28% reduction in voltage, yet it's a ~77% drop in clockspeed.

Following your formula, I get 18.75w, which is what I get from mine TDP(clocks/stock clocks)(volts/stock volts)^2. But that formula is not so much of a law as it is an approximation... a nice guess. No way are you getting a GTX1070 to run beneath 20w.

 

[phill]

When I was mining before we used RX480's and whilst the power consumption wasn't too bad (1200w untweaked to 700w tweaked) the electric was still somewhat painful to be honest. I was eating through £3 a day at least and at the time it was actually making a lot more than that. But then because everyone got on the band wagon and the difficulty went up, what we could make in two days, took two months, it was just pointless.
I figure now mining is a dead with GPUs as it's been previously mentioned. Even when tweaking the GPUs to get them to run undervolted the performance drop won't help with any extra pay outs. Right now you'd be better off using the rigs you mentioned to run WCG and FAH... (World Grid Computing and Folding At Home) You won't make money from them, but you'd hopefully be helping someone..

When we did have miners, we literally use a basic dual core (I don't think it even had HT...) and about 4GB or 8GB of ram, anything else was a waste. Efficiency was the name of the game here and without doubt now you'd have to look at ASIC miners I believe they are called to make anything, if they'd make much as it is...

Check up and see what your hash rates are to what power your pulling. For the cost you'd pay out, to the cash you'd re-coup, if your loosing any amount of money, my advise is to enjoy the PCs and forget mining. If you've doubling your money after paying for the electric and such, that's another story... But also factor in the price for all the hardware you've had to buy. Sometimes it's better to buy the cheaper hardware, as paying say 5 times the money for something half as fast (as an example) isn't worth it...

 

[Deleted member 191766]

Right. You can't just cut voltage and clocks in half and expect it to run.

I think you are right; I just picked those numbers as the calculations were easy, but the point still remains and under-volting may be the route to making things cheaper.

 

[hat]

I think you are right; I just picked those numbers as the calculations were easy, but the point still remains and under-volting may be the route to making things cheaper.

I agree, in a way. I've been recommending to set the power target to 80% since this thread began. I'm not sure if this changes any voltage settings, though... I think it just throttles the card until power is 80%.

 

[phill]

I agree, in a way. I've been recommending to set the power target to 80% since this thread began. I'm not sure if this changes any voltage settings, though... I think it just throttles the card until power is 80%.

I'm fairly certain it does, as it's how I run my cards for FAH Set the power target to 76%, set fans to about 60%, temps hopefully stay low apart from the top card, always runs warmer...

 

[yotano211]

When I was mining before we used RX480's and whilst the power consumption wasn't too bad (1200w untweaked to 700w tweaked) the electric was still somewhat painful to be honest. I was eating through £3 a day at least and at the time it was actually making a lot more than that. But then because everyone got on the band wagon and the difficulty went up, what we could make in two days, took two months, it was just pointless.
I figure now mining is a dead with GPUs as it's been previously mentioned. Even when tweaking the GPUs to get them to run undervolted the performance drop won't help with any extra pay outs. Right now you'd be better off using the rigs you mentioned to run WCG and FAH... (World Grid Computing and Folding At Home) You won't make money from them, but you'd hopefully be helping someone..

When we did have miners, we literally use a basic dual core (I don't think it even had HT...) and about 4GB or 8GB of ram, anything else was a waste. Efficiency was the name of the game here and without doubt now you'd have to look at ASIC miners I believe they are called to make anything, if they'd make much as it is...

Check up and see what your hash rates are to what power your pulling. For the cost you'd pay out, to the cash you'd re-coup, if your loosing any amount of money, my advise is to enjoy the PCs and forget mining. If you've doubling your money after paying for the electric and such, that's another story... But also factor in the price for all the hardware you've had to buy. Sometimes it's better to buy the cheaper hardware, as paying say 5 times the money for something half as fast (as an example) isn't worth it...

I used a intel celeron g3900 and 4gb of ram for a 6 gpu mining rig. For the HD, I would buy a used small 60gb SSD, sometimes a 160gb HD. I used to get 4gb ddr4 ram for 18-$22, then after mining came popular ram prices increased to about $30 for 4gb sticks.

 

[Jism]

I mined with 4x RX580's in a Crosshair Formula Z. It's simply not worth it anymore these days if your going todo this from your home. What you could do, is get a small space inside a business area, where the costs of electricity is twice as cheap as for consumers. And even then you'd still need a huge rig with 48 cards or so in order to get a profit on the long term. Your not going to cut it with 3 consumer cards.

 

[yotano211]

I mined with 4x RX580's in a Crosshair Formula Z. It's simply not worth it anymore these days if your going todo this from your home. What you could do, is get a small space inside a business area, where the costs of electricity is twice as cheap as for consumers. And even then you'd still need a huge rig with 48 cards or so in order to get a profit on the long term. Your not going to cut it with 3 consumer cards.

He said he had 6 computers with Nvidia 2080-3090s.

It says on nicehash with a 2080, and .10kWH cents power cost, the profit is .78usd cents per day after power cost.
$1.92usd per day after power cost with a 3080, $2.35usd per day with a 3090, a $1500 graphics card.

Good luck OP, you will slowly kill your cards for pennys per day.

 

[Jism]

It does'nt make any sense to run 6 seperate computers with each one card while if you just buy one board that holds up to xx amount of PCI-E slots would be a far better sollution.

And todays 78 cents could be 36 cents tomorrow.

 

[phill]

I used a intel celeron g3900 and 4gb of ram for a 6 gpu mining rig. For the HD, I would buy a used small 60gb SSD, sometimes a 160gb HD. I used to get 4gb ddr4 ram for 18-$22, then after mining came popular ram prices increased to about $30 for 4gb sticks.

Its how we did it as well. Just made life easy and simple. The CPU wasn't required so we left that as basic as possible. We found that the Gigabyte cards we had where terrible compared to the Strix we later bought (and I still have) temps/noise/performance, but we managed to sell them pretty easily which was a nice surprise.

Still trying to do anything with mining now? Personally, utter waste sadly

He said he had 6 computers with Nvidia 2080-3090s.

It says on nicehash with a 2080, and .10kWH cents power cost, the profit is .78usd cents per day after power cost.
$1.92usd per day after power cost with a 3080, $2.35usd per day with a 3090, a $1500 graphics card.

Good luck OP, you will slowly kill your cards for pennys per day.

It does'nt make any sense to run 6 seperate computers with each one card while if you just buy one board that holds up to xx amount of PCI-E slots would be a far better sollution.

And todays 78 cents could be 36 cents tomorrow.

Yep, going to take a long time to get back the price of one 3090 card let alone all the other components in the system. If the op has bought one system per card, that's a lot of cash right there..

I hope they can get back to us with their findings and what they are planning to do with the hardware

 

[Vario]

To reply to @hat , I'm living, in my parents house and they don't mind paying for electricity financially.

That is absurd.