Crypto Mining Thread

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Originally Posted by taemo

not disagreeing with this, but out of curiosity what would have happened if during the 2018 crash you just kept mining and held the coins?
how many coins would you have at this point?

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I mined for over a year straight with three Antminers S9's machines in 2018. (I still have the machines) It hit a point where the electricity to operate the machines was earning less BTC then just buying roughly 450-500CND worth of BTC per month. Once the price started to rise again for BTC the machines were very inefficient compared to the new ASIC chips that were released two years later. They still to this date are not profitable to run. Barely mined 1 BTC with three machines for over a year of running.

I have not sold any BTC that I mined, and am still holding. This has been very profitable now, but that is only after this last bull run rally. There was a period of around two years being upside down on this mining experiment. If I looked at what I paid for the miners and electricity I would have been MUCH further ahead to just have bought BTC. I am very lucky I was in a position where I didn't need to sell to get the $$ and was able to hold to this bull cycle.

At some point scaling your mining up is going to add risk on that side, but if we’re talking actual gaming GPUs... that have a use outside of mining, you’re going to be limiting that risk... personally I could find a home for a fair amount of them... home theatre, dedicated racing sim, zwift, gaming and work PC... you know what I can’t find a use for? An option contract that expired out the money :rofl:

The point being, it’s an attractive proposition compared to the downside on comparable returns

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Originally Posted by FunWheelDrive

I mined for over a year straight with three Antminers S9's machines in 2018. (I still have the machines) It hit a point where the electricity to operate the machines was earning less BTC then just buying roughly 450-500CND worth of BTC per month. Once the price started to rise again for BTC the machines were very inefficient compared to the new ASIC chips that were released two years later. They still to this date are not profitable to run. Barely mined 1 BTC with three machines for over a year of running.

I have not sold any BTC that I mined, and am still holding. This has been very profitable now, but that is only after this last bull run rally. There was a period of around two years being upside down on this mining experiment. If I looked at what I paid for the miners and electricity I would have been MUCH further ahead to just have bought BTC. I am very lucky I was in a position where I didn't need to sell to get the $$ and was able to hold to this bull cycle.

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thanks for the insight and glad to hear you came out with a gain from the previous crypto crash.

ultimately it's like running a business then, if you are earning more than your operating cost then it is profitable.
most of those that are GPU mining on this group right now already had the hardware or if we bought some, it was only for a couple of hundreds, so hopefully no one here will be overly impacted with the current correction that is happening.
I saw some mining rigs on FB/Kijiji that are selling 3000-20,000. whoever bought those will be the ones screwed once we enter another crypto crash.

Yeah, I'm mining on hardware I was going to own anyways. The 1070 is in my plex machine, and the 3080 is my gaming rig. If I wasn't mining, I'd still own the cards, they'd just be idle.

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Originally Posted by ercchry

At some point scaling your mining up is going to add risk on that side, but if we’re talking actual gaming GPUs... that have a use outside of mining, you’re going to be limiting that risk... personally I could find a home for a fair amount of them... home theatre, dedicated racing sim, zwift, gaming and work PC... you know what I can’t find a use for? An option contract that expired out the money :rofl:

The point being, it’s an attractive proposition compared to the downside on comparable returns

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Having yolo'd yesterday exactly this I feel personally attacked haha. We'll see tho, here's hoping for a rebound

my mining rig now has a 5700XT, 3060Ti and 1060 6GB doing over 130 MH/s

I listed the weak ASUS 1060 6GB on Kijij and sold in less than 10min, and made profit to boot.

NH payouts way down today, since ETH is down like $800, so I swapped back to ETH mining directly. Aiming for the 0.1 payout.

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Originally Posted by LilDrunkenSmurf

NH payouts way down today, since ETH is down like $800, so I swapped back to ETH mining directly. Aiming for the 0.1 payout.

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let me know how 24hrs fares between NH and ETH. it is weekend so I might mine ETH or RVN on the 3070.

Just switched from NH on dagger to firo, my card was running pretty hot on rvn, firo seems a little better, still not as nice as dagger but let see what happens? 0.1 xzc min payout on 2miner... right into my binance wallet, should save a fee or two vs NH Bitcoin payouts. Last time I did the free transfer to coinbase from NH when I was at 0.0005 btc... but that cost me damn near 10% to then send to binance

RVN makes my card run way hotter.
I'm about 56* with T-rex on ETH (95MH/s)
60* on Daggerhashimoto/Excavator with NH (95MH/s)
65* on Kapow with RVN (45MH/s)
All identical OC profiles (-502 core, +900 memory, 68% power)

That OC is probably part of it... kawpow like core more than mem... my dagger is +99 core, +850 mem TDP at 85%, kawpow (and apparently mtp too) is +160 core, +650 mem, 90% TDP

You run positive core with eth mining? I run -400 core on mine with +2000 mem (Asus doubles things so it's 16,000mhz mem clock)

Edit: 3060ti

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Originally Posted by ercchry

That OC is probably part of it... kawpow like core more than mem... my dagger is +99 core, +850 mem TDP at 85%, kawpow (and apparently mtp too) is +160 core, +650 mem, 90% TDP

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What card are you running that on?

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Originally Posted by LilDrunkenSmurf

What card are you running that on?

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Gtx 1080... also run ethlargementpill while on dagger (doesn’t do shit for the others)

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Originally Posted by pheoxs

You run positive core with eth mining? I run -400 core on mine with +2000 mem (Asus doubles things so it's 16,000mhz mem clock)

Edit: 3060ti

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TBH I didnt notice any difference running -400 or -500 core when mining ETH so I just set mine to 0.
found the sweet spot on my 3060Ti to be 65%/0/1270, on the 3070 it is 50%/0/1270. power % for both cards equals to be 130W.

and yes RVN mining likes higher core clock more, I run 75/100/500 which means uses more power and generate more heat.

decided to mine more ETH this weekend since I'm already over 0.01 and waiting for payout, I'm guessing sometime this coming week.

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Originally Posted by taemo

are you mining with Ethermine as well?
I'm also waiting for my first payout with Ethermine after having mined 0.01 (I achieved this last Friday). There's no countdown on their website stating when the 14 days payout will occur so I'll just check from time to time.

if the wallet address you typed in is correct, then yes when payout occurs it will go to your exodus wallet. from there you can transfer them to an exchange.

my ETH is set to deposit to my coinbase wallet, my BTC from NH is going to my coinbase though as there's no transfer fee.
From coinbase I can sell to cash and deposit on my paypal account.


btw, really impressed with the 5700XT, even with stock BIOS it is more efficient than my 3060Ti
53.2 MH/s @ 108W vs 61.5 MH/s @ 129W
With BIOS mod the 5700XT can do 55 MH/s

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finally got paid today from Ethermine so I guess 14 days payout is from when you achieve at least 0.01.

deposited directly to my Coinbase Wallet.

I found a video on YT about mining and how to set it up, so I figured why not give it a go.

I have no idea what I am doing, but in like an hour I have mined about $0.40 of Etherium. Looks like my MH/s is about 53 or so, with no overclocking anything on my 3070

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Originally Posted by spikerS

I found a video on YT about mining and how to set it up, so I figured why not give it a go.

I have no idea what I am doing, but in like an hour I have mined about $0.40 of Etherium. Looks like my MH/s is about 53 or so, with no overclocking anything on my 3070

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That real low. You should be at 80 ish

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Originally Posted by spike98

That real low. You should be at 80 ish

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I have limited the power to the GPU to 70%, so that may be why

3070 has same hashrate as 3060ti, around 60-62MH/s, that’s what Im pulling from both cards.
3070 can do 50% power limit (130W), -500 core and +1200 memory clock.

how are you mining, nicehash or etherium?

also if you are using your pc, watching videos, browsing then your hashrate will drop to mid 50s, mine goes 60-62 when idle/not being used