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AltCoin Mining 2017?

Discussion in 'CryptoCurrency' started by Henry IV, Jun 9, 2017.

  1. Henry IV

    Henry IV Jr. VIP Jr. VIP

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    So, I am deeply aroused by AltCoins and own holdings in BTW,LTC,ETH at the moment just for fun in case I make bank in a few years time. I think currently I have made a delicious $20 but again, I don't really care if it goes down I'm simply aroused by the holdings.

    I am also deeply aroused by the idea of a GPU mining rig using Awesome Minor to take advantage of it's profit switching.

    Question is, is it worth it? The cost of a 6 GPU rig isn't really a concern. I can stick it in my office as well so electric costs are no problem either, but let's assume i'm producing 1th/s in hashing which is my aim. Is it worth it? Again I can burn like 3gs and have no elec costs to kick this off but I can't be arsed if it's going to be $20 a day. For me it's sexy at around $50 a day

    Also, how noisy is this sh*t? I have 2 staff who might be pissed off if I've got this loud as fahk machine in there 24/7.

    Please don't bother giving me retard opinions if you have no experience of mining and are just regurgitating crap you've read elsewhere, I'm interested in actual experience of mining AltCoins. NOT BITCOINS. Other Coins
     
  2. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    You can't find (or, better said, it's hard to) the right GPUs on the market that make sense in terms of efficiency. Also, you will have electricity costs, since you'll be burning around 1kW/h.
     
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  3. Xr0x

    Xr0x Jr. VIP Jr. VIP

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    You can mining nothing on 2017, and its just makes clear with the year goes by,
    Better to do with your electricity , grow up some weed.
     
  4. mindblend

    mindblend Newbie

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    Also interested in this - I'm similar in that I have an office with inclusive electricity costs I could put a machine in.
     
  5. onlineonly

    onlineonly Power Member

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    If you have free electricity its a no brainer. You will make your money back what the rig cost to build in 2 months then you have free money. There will always be new coins to mine even when etherum goes POS whenever that happends.
     
  6. Henry IV

    Henry IV Jr. VIP Jr. VIP

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    I'm not looking for opinions on whether my electricity is free or whether it is possible to mine altcoins at all. I'm interested in hearing about the results of a 6 GPU rig. Those guessing will have to suspend belief and assume I have free electricity and 6 GPUs of the right power and type for their opinions to be of interest to me. I agree @onlineonly, logically it will be profitable given time. Anyone mining right now in BHW?
     
  7. whiteblackseo

    whiteblackseo Jr. VIP Jr. VIP

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    Price of alts can tank anytime rendering all of them woretheless if that happens. Imo not worth it mining alts
     
  8. Kode

    Kode Junior Member

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    This is off topic. But you used the word aroused a lot. o_O Do you really get rock hard from it?
     
  9. Henry IV

    Henry IV Jr. VIP Jr. VIP

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    I truly am solid, nearing enduring priapism I would say, over the concept of altcoin mining.

    Failing my goal of altcoin mining wealth I will burn the GPUs in front of a party of common folk and bask in their comparative poverty. It's a win win situation
     
  10. tGoHS

    tGoHS Newbie

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    Since we are assuming electricity is not an issue to you, I would venture to say that yes, it is indeed worth it.

    A few pointers, though:
    • forget about 1TH/s, that would be around the 190k$ per day mark
    • a realistic figure running a 6 GPU rig will give you about 180 MH/s, and the cost to get it running would certainly not break the bank. I would say you're looking at 3k-ish $ overall. With current rates, your daily return would be some 35$ (about 1k$ per month, give or take a few dozen bucks)
    • it is fairly noisy, since all 6 GPUs will be running at 100% 24/7, but that is the point when mining
    • if you want to increase your hashing power, you can just go ahead and run multiple rigs, especially since electricity costs are defaulted to zero for you
    • I would personally stick to ETH mining right now, it is most likely not gonna plummet in price anytime soon
    • considering the scarcity of 580/570 cards, you might want to settle for a rig consisting of GTX 1070's, they do the job just fine
    • be prepared for some serious heat
    Hope this helps, let me know if you need further clarification.
     
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  11. Henry IV

    Henry IV Jr. VIP Jr. VIP

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    Thank you! That's in line with my research, I was originally looking at ASICs like the AntMiner s7 which quoted something like 4th/s but I realised these only seem to mine particular coins like BitCoin, where as i fancy the GPU "minable" coins in particular. The rig I'm looking at uses 6 1070s and yea, more like 190gh/s as oppose to 1 th/s xD

    Looking at energy costs, we pay about 0.12gbp per Khw. Is my calculation correct that with a 1,200w PSU I'm looking at £87 per month in power if I were to pay for power?
     
  12. tGoHS

    tGoHS Newbie

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    Cost-wise, you are better off building the whole thing by yourself than buying a prebuilt one. It is fairly easy to assemble, actually. Values running 6 1070's will usually fluctuate between 180ish and 190ish MH/s top when mining ETH.
    Bear in mind that your 1200W PSU (get a properly certified one, but that is a no brainer) will not be operating at full draw, something along the lines of 1000ish would be more accurate. For science's sake, though, let's assume it does run at 1200W flat 24/7. That would end up cutting some 130$ monthly from your 'profits', which is a tad higher than your £87 estimate (which actually reflects the real 1k draw you will be using), but still sort of negligible.
     
  13. uncutu

    uncutu Elite Member

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    Still worth it. My bud as 70 gpu's, and bots to buy more as soon as they get stocked. He keeps telling me to get involved but not that interested.
    As far as noise levels go, depends on what hardware you get. Look @ btc/mining forums a lot of people document their journeys online.
     
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  14. Henry IV

    Henry IV Jr. VIP Jr. VIP

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    It is certainly deeply intriguing, and highly arousing. I have several wealthy benefactors with no skill persay but much wealth. I'm hoping to gain their investment in my altcoin fetish
     
  15. uncutu

    uncutu Elite Member

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    you need to do a lot of research on this to cover your butt. if you make a bad trade and lose their money they will not think logically.
     
  16. Henry IV

    Henry IV Jr. VIP Jr. VIP

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    My benefactors would understand the risk as do I. I'm just checking myself, before I wreck myself. As the common folk say
     
  17. jeffro89

    jeffro89 Junior Member

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    Spent jut over £1200 today bought 5 rx480s. Most profitable card if you looking to get involved. Rx 580 aint bad either but you cant get them at a decent price on ebay at the mo and ofcourse there is the world wide shortage if you going for a brandnew one.
     
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  18. ACookieMonster

    ACookieMonster Newbie

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    Can you trust the Calculators? Because if I look at the estimated profit I will hit equal in six months. Sounds almost to good to be true...
     
  19. PepeMujica

    PepeMujica Newbie

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    With that hash rate xmr could be very worth it
     
  20. JaxPozzy

    JaxPozzy Junior Member

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    XMR could be worth it.