Mining For Beginners

randombar

For those that are new to this thread was is a "regular" price for an 8GB graphics card?

Any advice for SW for mining on Ubuntu? Thinking Eth and maybe Monero if that can be run on the CPU, might as well get my monies worth while the machine is on.

unkel

Just mine from within Windows 10 if you have 1 card. If / when you want to add more cards, buy or build an open air frame

Price of an 8GB RX580 card? The most I ever paid was €300, 2 weeks ago from a local PC repair shop. Card came with a warranty. But there are some imbeciles out there paying €450, 500 or more in a private sale (no comeback) and even more than that from webshops like Amazon, etc. the one in your link was €900

randombar

Just wondering are any of the following graphics cards any good and if so what "should" their monetary value be?

AMD Firepro S7150x2
AMD Firepro S7150
Geforce GTX 680
Geforce GTX Titan

Looking at the sites that show the earning potential and some of them look crazy but then I could be reading it wrong.

randombar

Any advice on the above guys?

Also I'm wondering how the pools work in terms of payout.

I left the miner run for 14 hours or so Sat night and I had the following report after.

https://www.dropbox.com/s/uwd6mrszv7ry0au/Screenshot%202021-05-24%20at%2008.44.13.png?dl=0

LolMiner - 2miners - binance

I killed it then as I'm still updating a few things. (AMD Pro driver broke lots of stuff)

How does the payout process work, because I killed the miner is all that time wasted or does it kick off where it stopped when I start up again?

unkel

The mining is working fine for you. The reason for using a pool is that you share in the proceeds when a block is found. On your own it could take forever to find one. A bit like sharing the lottery proceeds between all participants You'll get your payment eventually, I've no experience with that pool but most ETH pools pay upon making 0.1ETH

Your hash rate is terrible though, did you not flash the BIOS of the GPU? Also the temp of 89C is very high. You should significantly improve the airflow in the case or better: build an open air frame

And, with hindsight of course, your timing to start mining was very bad as crypto had about the biggest crash ever this week. With a badly overpriced GPU, it will take a long time for it to pay back for itself. Leaves a nice hobby though, happy mining!

randombar

unkel wrote: »

The mining is working fine for you. The reason for using a pool is that you share in the proceeds when a block is found. On your own it could take forever to find one. A bit like sharing the lottery proceeds between all participants You'll get your payment eventually, I've no experience with that pool but most ETH pools pay upon making 0.1ETH

Your hash rate is terrible though, did you not flash the BIOS of the GPU? Also the temp of 89C is very high. You should significantly improve the airflow in the case or better: build an open air frame

And, with hindsight of course, your timing to start mining was very bad as crypto had about the biggest crash ever this week. With a badly overpriced GPU, it will take a long time for it to pay back for itself. Leaves a nice hobby though, happy mining!

Nice one, so it's a % of processing that I used in order to find a block for the whole team.

Haven't done anything to the Bios yet as I wanted to test it out raw first.

Will open the door of the case all right. Need to move it from the attic also bad time of the year to be up there.

Ya I kept saying I'll have to starting mining now, finally bit the bullet and I needed to upgrade my media server anyway. If I can sell the monitor I got with the rig and my old server the server upgrade should have cost me about 400.

Just have to fix some amdgpu-pro-dkms error to actually be able to log back into the gui now

unkel

The most I ever paid for a 8GB RX470/570/480/580 was €300 a couple of weeks ago and that was from a local shop, with warranty. €400 is pretty steep but I'm sure there are people out there who have paid more than that, lots more than that, for one

At 25MH/s, the card is making about $2.40 per day gross, so still not bad at all, particularly if you have cheap electricity from solar PV / night rate

circadian

I'd recommend using Teamredminer for AMD mining on Eth. Also, if you're having driver issues etc check out the minerstat OS, I'm currently using it and it works really well out of the box. I basically just DD to an old SSD instead of running it off USB.

Those hashrates from nicehash for the FirePro must be wrong in some way, over 7000 mh/s?? Not a chance.

thunderdog

Anyone reckon we might see a slight decrease in the cost of gpus with the recent dip in crypto prices? In the market for 4 gpus

unkel

circadian wrote: »

I'd recommend using Teamredminer for AMD mining on Eth.

Why do you recommend TRM? I've stuck with Phoenixminer since they had the edge back in 2017 / 2018 over other miners with slightly higher hash rates and slightly lower dev fees. That said, I think at this stage I have tried almost all of them at some point and there is very little in it between most of them these days

If you have a 4GB card, you will need to use lolMiner

unkel

thunderdog wrote: »

Anyone reckon we might see a slight decrease in the cost of gpus with the recent dip in crypto prices? In the market for 4 gpus

We should do. Back during 2018 the price of a second hand RX580 8GB steadily declined from EUR500 to about EUR90 and stayed like that until early 2021

circadian

unkel wrote: »

Why do you recommend TRM? I've stuck with Phoenixminer since they had the edge back in 2017 / 2018 over other miners with slightly higher hash rates and slightly lower dev fees. That said, I think at this stage I have tried almost all of them at some point and there is very little in it between most of them these days

If you have a 4GB card, you will need to use lolMiner

Oh yeah forgot about the 4GB cards. TRM has been punching out some seriously good hashrates for me, including a VII with their C-mode enabled, it's hitting about 110 mh/s at 240 watts, which isn't the worst. I also have a 6800 nailing 62 mh/s at about 109 watts.

unkel

circadian wrote: »

TRM has been punching out some seriously good hashrates for me, including a VII with their C-mode enabled, it's hitting about 110 mh/s at 240 watts, which isn't the worst. I also have a 6800 nailing 62 mh/s at about 109 watts.

I'll give them a try again so. TRM were king of the hill a few months ago alright when I was mining RVN with my AMD 4GB cards

randombar

unkel wrote: »

The most I ever paid for a 8GB RX470/570/480/580 was €300 a couple of weeks ago and that was from a local shop, with warranty. €400 is pretty steep but I'm sure there are people out there who have paid more than that, lots more than that, for one

At 25MH/s, the card is making about $2.40 per day gross, so still not bad at all, particularly if you have cheap electricity from solar PV / night rate

Well it's 400 for decent chip, mobo, ram, PSU, all I'll probably use so not too bad I don't think.

unkel

GaryCocs wrote: »

Well it's 400 for decent chip, mobo, ram, PSU, all I'll probably use so not too bad I don't think.

Ah, so EUR400 for the whole PC including the RX580 8GB? That's not a bad deal at all so.

Static M.e.

Random question but if you are working from home all day - anyway - can you just run this in the background without impacting the day to day work?

grindle

Static M.e. wrote: »

Random question but if you are working from home all day - anyway - can you just run this in the background without impacting the day to day work?

As long as it's not GPU or CPU intensive, sure. Loading a YT video might take a second longer and things will be slightly less snappy but that's all.

Gadge

JibJabWibWab wrote: »

I bought a mining rig 2 weeks ago.

It has 8 RX5700 cards in a nice tidy closed case.
It's running HiveOS and puts out 442mhs at around 765w.

Today is day 16 of running it and it has 0.373 ETH in the wallet.

At that rate it should produce around 8-8.5 ETH in a full year.

It cost €8,500 + VAT.

I have it running in a quiet part of my workplace.
There's electric heaters in the building so it should cut down on heating there.

It's fairly noisy so I couldn't imagine having it running in my house.

Can you mind showing me where you got this rig?

Also a general question, if I had say €10k to spend, and power cost was no obstacle, what would be my best option for mining? Thanks in advance.

fritzelly

Gadge wrote: »

Can you mind showing me where you got this rig?

Also a general question, if I had say €10k to spend, and power cost was no obstacle, what would be my best option for mining? Thanks in advance.

Invest it directly - ETH has been the most profitable coin to mine with quick returns but that is gonna change very shortly

Even if your electric costs were 0 it would take over a year to even make your money back in the best case scenario plus paying over a grand for a card worth less than half that amount is downright stupid right now

unkel

A lot of semi-beginners getting hot feet now and selling off their rigs. Always happens in a dip. Wait it out for a few more weeks or months and buy the hardware for a lot less than it cost even a week or two ago.

Have a look on adverts. Two weeks ago there wasn't a single mining rig for sale in Ireland. Now there are plenty. And no one is getting anywhere near their asking prices

Probes

I have a 2070s that’s sitting doing very little, I wonder if I should put it to use like this. I suspect the missus might explode when she gets the leccy bill though.

unkel

Probes wrote: »

I have a 2070s that’s sitting doing very little, I wonder if I should put it to use like this. I suspect the missus might explode when she gets the leccy bill though.

Even after this current crash, mining revenue is at least 5 times the electricity costs, so it's a no brainer to mine with whatever you got. If you worry about the bill, just sell the coins as soon as you mine, ringfence the money for the bill and when it comes, you will find the bill will be more than covered several times over.

Or of course sell your card double quick, before the values of GPUs might come down a good bit in the next few months, then buy back

Probes

Thanks, I just set something up with Nanopool to experiment. Will leave it for a bit but I have no idea really what to expect. It seems to be mining at ~35 MH/s. Is there somewhere I can calculate leccy usage/charges to expect, and ETH payout to expect?

Also, I have a PC with an older generation card here too, a AMD R9 Nano, is it still still worth using older cards as I might set it up?

fritzelly

Probes wrote: »

Is there somewhere I can calculate leccy usage/charges to expect, and ETH payout to expect?

https://whattomine.com/

unkel

Probes wrote: »

Also, I have a PC with an older generation card here too, a AMD R9 Nano, is it still still worth using older cards as I might set it up?

That's a 4GB card right? Might not be the most efficient card, but it will sure mine a lot more than it costs in electricity, go for it! Popular coins to mine with a 4GB card at the moment are ETC / ERG / RVN, etc.

Probes

unkel wrote: »

That's a 4GB card right? Might not be the most efficient card, but it will sure mine a lot more than it costs in electricity, go for it! Popular coins to mine with a 4GB card at the moment are ETC / ERG / RVN, etc.

It is 4gb yeah, I was going to stick it on ETH but I just realised the limit on memory size. I’ll maybe take a look tomorrow at those other coins. I managed to tweak my card settings on the 2070s to bring the power consumption down to 125 from 140 and upping the memory clock speed got me to 38mh, that should help! This is a bit like one of those stupid addictive idle games on the mobile.

fritzelly

fritzelly wrote: »

https://whattomine.com/

I can't make heads nor tails of that website

unkel

Deleted User wrote: »

I can't make heads nor tails of that website

What card do you have? Stick the hashrate in the Ethash and Ethash4G boxes, untick all the other algo boxes and then hit the calculate button, you will then see the daily revenue for the card in dollars a bit down on the page.

If your card is over 4GB, the Ethereum revenue applies, if 4GB or under the Ethereum classic revenue applies

(this is overly simplified, before anyone jumps down my neck, just to give a complete novice a general idea of revenue)