My First rig up and running


#103

Congrats and good work! The outlet on the floor looks like it wouldn’t pass an electrical inspection as is. So you might want to rethink that at a later date if you plan to show this off to anyone in person. Otherwise it’s coming along nicely, keep it up!


#104

ty ty . this is all new to me lol. learning as I go. now I’m working on better air flow in there. and if I needed to pass inspection ever I just need to mount my box in the wall. lol I left plenty of wire to move it there in the future if needed. but I made it more temporary. as I don’t plan to stay here. but again ty :grin:


#105

so rig update. No more problems with the rig, awesome lol. Well with btcp profits dropped out bad. my electric was eating most of what I earned now. I had to switch to something that was less power consuming. so I switched to ETH and ETC. I set it up on smos with no help. its got my power way down now. I was at 115w per card now 95w to 100w. each card at 29 to 31 MH/s total around 620 MH/s. I was able to turn off my extra cooling fans because I’m using less power per gpu. so this will help me with my farm. when btcp price goes back up to were I need it to be I’ll come back to the pub pool. but I will stay active here. you all got me started and helped with a lot of info. so I’ll share my info that I have too with anyone that asks. That is what this place is for.


#106

Outstanding attitude and thank you for all of your contributions. I wish you great mining success.


#107

I do not understand how many times this has to be explained.

Unless you are cashing out the moment you get the coin the “daily profit” is irrelevant. It just doesn’t matter you have to look at mining in much longer terms than that as you are going to or should hold onto the coins until the price goes up. So again unless you are cashing out every single day stop looking at the daily profit as it is irrelevant. Pick a project you want to support and mine that coin or you should be cashing it out every single day for another coin. The later is the only time you should look at daily or weekly switching of algos. If you are holding onto your BTCP then it doesn’t matter at all treat your electric bill as a long term DCA.


#108

I do understand that the daily is irrelevant. but when my electric goes up for the summer, my bill was almost 500 usd for this month. for now eth uses less electricity and my rig runs cooler. so I was able to turn off my fans because of this. so now im using 900 watts less. that’s great considering my electric price goes up in the summer. and with my rig producing less heat i need less a/c going for cooling too. so I’m saving money with this switch. mining btcp really heated up my house bad. it can keep my house at 80F. and that’s with the out side temp at 68F. so cooling my house wont be so bad too. so I hope to save about 200 usdt a month now. So with that in mind ill make 800 to 1000 more for the summer because my electric is lower. lol I might just mine btcp in the winter to keep my house warmer lol and save the money on the heat lol. but ty for your info. I will keep that in mind. :grin: :rocket:


#109

Thats makes more sense you are just trying to lower the overall electric bill. I just do not like seeing people compare coins in profitability when they are not cashing out every day. If you need to lower your electric due to operation issues thats one thing but do not do it because whattomine says it is no longer the top coin to mine.


#110

I saw the same for RVN and had to turn off the miner.

I use monthly averages only and track expenses month-to-month. Any longer than 30 days and there is no telling what the profit will be.


#111

Thats kind of what I am getting at if you are not cashing out then it does no good to swap between coins because your profit is determined by what you sell the coins you mined for. It doesn’t matter what they are at the end of the month or from hour to hour. Unless you are selling then you are not seeing any profit.


#112

but it is nice when possible to cash in for btc at the end of the month. as long as I’m selling for more than my electric bill. lol.


#113

I agree 100% thats why I use NiceHash. It limits book keeping for taxes and gives me the coin I am after. Out of the mineable coins BTC is all I am after other than a bit of speculation on Raven. I switch a rig over to raven two days out of the week or when I see the NetHash drop significantly.


#114

I don’t use nicehash. I’m on smos. so what i mine I have to trade my self. it’s not a problem for me. so I’ve got to calculate power usage to coin value. if they don’t align then I have to move to a new algo for my farm. and since I do my own booking Im not worried about tracking for taxes. thats what nicehash does for you for a price of the pool fee. I make a little more doing it my self. little more risk and work for a possible better roi.


#115

Nicehash is not an OS. Its like miningpool.hub.

Stating that you make a little more by doing it yourself is a misnomer. Time is a currency and it is the only one that you cannot get more of. So you really need to evaluate that time spent vs the “loss” by using nicehash. I use SMOS also just point my rigs at a NiceHash pool. You also have to take into account the tax loss by mining one coin and then trading it for others. These are some things that many new miners do not account for in their calculations. I value my time so highly that it is a loss for me to do this it is also why I do not mess with windows on my rigs anymore it just ties up too much of my time fiddling with it.

Just some things to think about. When you say you do your own booking how does this relate to you not having to worry about tracking for taxes?


#116

Mining to Nicehash appears to have a common misconception I see on many threads, a lot of people appear to think that you need to use the Windows based Nicehash Miner (Excavator) software to mine on Nicehash.

@Nekko, maybe we can start a new thread on tips to mine to Nicehash using SMOS. Showing how to set up mining groups, miners, mining options/syntax and overclocking guidance. I will put something together later today.


#117

with me tracking everything I have the tax part covered and my wife is learning the tax codes with this. I’m not worried because I’m pro active on this. I’m a start up business and I’ve got a lot to lose if I mess up. so I record selling trading and buying. the better I do this the easier it is later.

and I know Nicehash isn’t an os lol. I just like doing things my-self. call me stubborn. but you still get charged the same as what im doing with trading btc my self. nicehash does multiple coins and pays in btc. I’ve got my brother starting nicehash just to see if after a month who makes more btc. hash war lol. Just and experiment on our end…


#118

I know you can mine nicehash from smos. I just don’t see the point on letting a third party to chose what to mine for profit for them. just to get a little btc. I know its easy to use but i feel I make more if I’m more in control. but thats why Im having my bro try it and see if the profits are the same.


#119

It’s all cool, no worries. I also prefer to mine my favorite coins from other pools, mostly ZCash and Ethereum Classic. Zcash gets sold while those Classic Vitaliks get HODL’d. Nicehash is always a decent option, fees etc aren’t really that high.


#120

woohoo!!! just got another gpu. now at 21 !!!:grinning: :sunglasses:


#121

I’ve been doing ETC now partially cause I think it’ll have a nice spike when Coinbase lists it - probably should have a 50% spike sell order ready on binance with the profits


#122

Yea that’s what I’m betting on too. and it uses way less power than btcp too. so for me it was a good over all move.