Put a couple crypto boxes together to ride the craze

[steveokinevo]

At 1.50/day it's probably not profitable. If you're using the rig in your sig it's just simply beyond that point in my opinion - you'll probably be making cents per day. Everyone who got in right when the BitCoin hit 2600 got a solid two months of medium to high profit mining.


Let's just say at max load your computer is using 650W and your electricity costs 10 cents per kilowatt hour... .650 kw x 24 hr = 15.6 kWh x $0.10= $1.56 per day to mine cryptos

This is really general, but you get the idea.

So you'd actually be losing 6 cents a day at that rate if you're only making 1.50/day.

thanks! i will quit wasting time for now lol

at 11.6 cents per kWh here in FL with what you have said i will wait a while

 

[Scout]

if you like bitcoin at this point buy some and speculate it or hold on to it in hopes 1btc=1 million in 5 years.

 

[NiHaoMike]

You could look into merge mining Curecoin and Foldingcoin. Even if it doesn't break even, you'll still be able to get some Folding done at a substantial discount.

 

[steveokinevo]

not quite sure what those are

 

[steveokinevo]

anyways i just set it all up. does this earn good $? what about power consumption, same?

 

[JeremyCT]

An FX8370 and 1060 shouldn't draw 650W ... If it's all at stock clocks I'd guess in the 320-350W range if you're mining on both the CPU and GPU. Maybe 190-220W if you're just mining on the GPU. The only way to know with absolute certainty would be to put a meter on there of some kind and measure it over time.

Profitability all depends on your power costs. Keep in mind that if your rig is in an air conditioned space, any wattage you use gets multiplied by around 1.3 (as a really rough estimate) because the AC does more work to remove the heat you've dumped into the space.

EDIT: The Nicehash profit calculator puts a 1060 at $1.46/day, so it sounds like you're right where you should be.

 

[steveokinevo]

An FX8370 and 1060 shouldn't draw 650W ... If it's all at stock clocks I'd guess in the 320-350W range if you're mining on both the CPU and GPU. Maybe 190-220W if you're just mining on the GPU. The only way to know with absolute certainty would be to put a meter on there of some kind and measure it over time.

Profitability all depends on your power costs. Keep in mind that if your rig is in an air conditioned space, any wattage you use gets multiplied by around 1.3 (as a really rough estimate) because the AC does more work to remove the heat you've dumped into the space.

EDIT: The Nicehash profit calculator puts a 1060 at $1.46/day, so it sounds like you're right where you should be.

apparently before i was only using my GPU to mine. with both CPU and GPU its getting around 1.90

 

[steveokinevo]

you think it will cost more then im bringing in then?

 

[JeremyCT]

Profitability all depends on your power costs.

 

[steveokinevo]

using the other math from above it looks like it costs about $ .90 - 1.00 to run it. with all this in mind and the fact that i built my PC mainly for games and not this i think im gonna give it a rest for now. i dont think the extra stress is worth it on my PC to try and do both. i'd rather play some PC games and maybe just build a seperate setup for this. thanks for the help!

 

[NiHaoMike]

not quite sure what those are

Curecoin and Foldingcoin are altcoins that use Folding as the main PoW function.

 

[cathista]

At 1.50/day it's probably not profitable. If you're using the rig in your sig it's just simply beyond that point in my opinion - you'll probably be making cents per day. Everyone who got in right when the BitCoin hit 2600 got a solid two months of medium to high profit mining.


Let's just say at max load your computer is using 650W and your electricity costs 10 cents per kilowatt hour... .650 kw x 24 hr = 15.6 kWh x $0.10= $1.56 per day to mine cryptos

This is really general, but you get the idea.

So you'd actually be losing 6 cents a day at that rate if you're only making 1.50/day.

Add air conditioning costs to that, and he'd be losing more than that. IMO, the entire mining pool has become extremely crowded lately (resulting in an almost exponential increase in BTC mining difficulty), and not to mention the crypto-bleeding since January.

A close buddy of mine got a mining rig together at the beginning of February (he even bought this supposedly 'top' Honeywell portable AC at a winter-special price thinking it was a good 'long-term' investment, duh). The crypto-sphere started bleeding shortly after. Now he's just stuck with his used mining rig (hence greatly depreciated in value), plus the inefficient junk that is the portable AC.

 

[UltraTaco]

Easy money, eh?

 

[deathman20]

There is money here and there with mining. Easy, I wouldn't say its necessarily that. Not saying its hard but now working/playing with it for a few months I know I could of done things a little more smartly when I started off is all.

I'm going on 8 months now mining. I've thought about stopping recently, thankfully the bottom of the pricing stabilized, and now we are seeing this uptick. While I think the uptick is aggressive I wouldn't count out another large crash because of it.

 

[cdawall]

I have expanded vastly since I first put this thread up. Lol I make half decent money on it, enough to pay for my 2017 navigator.

 

[UltraTaco]

But dear sir, it takes a huge investment to start up front. The size of 2017 navigator!!

 

[mackerel]

It was and still is a kind of gamble. If the value holds, you roll it in. If it crashes, enjoy your hardware in other ways.

That reminds me, I still need to finish setting up my garden enclosure for summer running. Fortunately there's a cold spell over at the moment.

 

[UltraTaco]

I believe it will always be a gamble. If not, it won't be profitable.
Same with invesents and buying selling stock. There is always risk involved.

 

[cdawall]

But dear sir, it takes a huge investment to start up front. The size of 2017 navigator!!

I had roughly a 42 day ROI on all of the equipment I bought after this first batch. The cards running now are in my signature it really isn't that many. Also remember most cards were purchased prior to the market getting insanely overpriced.