Mining

What? How is that meaningless? Are you trying to say you should never hold quality coins because the price will never go up?

No definitely not, I'm saying it doesn't matter where the price might go, what matters now is getting the shitcoin in your wallet in the cheapest way possible, for most people electricity is more costly so they're effectively losing money doing it

I got a 480 before the price jacked up and made 5x the cost of the card in three months greatest investment of my life.

I guess, but for me i barely notice the increase in electricity, I never used much before so it was always kinda low. But that's like saying not to invest in an IRA because you have to pay right now and won't be able to use the returns until you retire.

Here's a question. Lets say its a very cold ass winter, and you have mining rigs set up in every room in the house. At what point does that electric bill start paying for your heating bill?

I was wondering this as well. I get super cold winters here.

whattomine.com/

This is also a good site to use. Put in your GPU, cost of electricity, preferred exchanges, and it will spit out how profitable coins will be to mine.

I have a GTX 1080Ti and I make about $2/day mining with it when I'm not gaming. I was mining siacoin and etherium for awhile but I recently moved over to Vert. My electricbill has increased about $10/m so I'll barely offset the cost of my card after a year.

That said, I'm thinking about getting a second because I know i CAN offset the cost of it and it won't be a complete loss when I upgraded in 3-4 years.

Otherwise, don't bother with mining.

A mining rig with 6 gtx 1060's in it uses between 1000-1200 watts. The highsetting on most US space heaters is 1400watts.

1000watts= ~3500 BTU's. It takes around 12,000-15000 BTUs to properly heat a 2-3 bedroom house. So, I would say that 3 mining rigs could properly offset the heating costs in the winter.

Now, the problem here is that there are many GAS furnaces because gas is cheaper than electric. If you have a gas furnace you aren't offsetting a damn thing, infact you'd be paying more.

Oh, BTW, 3, 6GPU mining rigs will set you back around $8000

It's also not practical to have mining rigs set up all over the house or to have any sort of air distribution system built for it, especially if you have a family or live with room mates. If you're a single neckbeard though, go for it.

Single GPU mining in my bedroom though and my wife loves it cause she likes it hot and I don't. I do like the relaxing whir of the fans though. Had to swap out my LED fans for ones without lights, was pretty bright at night!

You can "profitably" mine with about any GPU that isn’t terribly old, i.e. has either CUDA or OpenCL support and 1GB+ memory.

Problem is: How long does it take to regain cost of the card? Plus cost of all the other stuff that you need to drive the card.
If you already have a PC with a good card, just research what’s best to mine and do it. If your CPU has AES-NI (again, any recent CPU) you can also CPU-mine Monero profitably.

If you think about building a dedicated rig, I suggest doing lots of calculation beforehand. You’ll probably come out with 10+ months until cost of hardware is recovered.
Still if this would reliably work that wouldn’t be too bad, as 30 months for "doubling" your money (or 20 for free hardware) is better than stocks. (Though worse than BTC performance in recent months.)

Of course the whole thing needs maintenance etc. and if you calc how much money you’d make if just wageslaving in that time…

I thought about that problem and I would just set the mining rigs infront of the air intake on my furnace then set my furnace to "fan mode".

NO YOU DUMB FAGGOT.

BUY CPU'S

yes. well i pay the same price whether i use electicity or not

You can mine ETP, its low DAG EPOCH sitting at 22, like mining ETH in the glory days, do about 5 - 8 a day with 400mh/s +-$4 a coin then when it hits your wallet, freeze it for extra gainz

Fark it.

I'll go against what everyone else says.

You can be profitable with a shiity GPU, but you need to get really creative.

Find really new coins, literally first day release where the algo fits GPU. Literally shit coins with half assed announcements on bitcointalk.

Mine a few of these shit coins. Eventually one will hit a shitbox exchange.

Then sell it quickly. If you're lucky you might clear 0.01 BTC for your troubles, but expect a bit less.

Then withdraw the BTC and send it to a mining rig place. Repeat the process for GPU coins, but now you can buy 250MH for a few hours a few times to mine some shitty scypt and sha coins. Now you're a shitcoin mining machine.

Keep repeating this bullshit cycle of pooper scooping for a few months and you'll have about 0.1 BTC.

Then send that 0.1 to YOBIT and buy Espers.

Eth is not worth it now ,but nicehash's switching algorithm is worth it.

You sir, are a scholar, a true gentlemen.

you can't translate watts directly into btu's like that. A heater is going to intentionally turn most of the watts of electricity it uses to heat.

A mining rig might use the watts you say, but it isn't going to turn all of that into waste heat.

Anyone knows if I can fit the miner program and nicehash in a usb?

I use a usb to mine eth on a pool, but I think I'd be better off like user said, mining shitcoins

do you have a better guess? And it does all eventually turn into heat, it's just a matter of how efficiently it's used before it eventually turns to heat.

Buy a fucking antminer s9 and mine for fucking 500bucks a months...
Ps:tskes 89days to clear ur initial invesment. Also... u can probably do it for like 2y... then u need new hardware... however u make 12k per miner in that time... if u use nicehash miner and mine whatever is most profitable and get payed ib btc... ur gains corelate with btc price and can be much bigger.

yeah I steal electricity and make >$2.6 a (24hr) day with my R1600+GTX1080 gayming peesee
ETH+DCR+XMR payout is alright, but BTC would've obviously been better

no it's not, you cvcko

which is the best coin to mine? I put in an equipment that reduced my electrical bill tremendously, so I must waste more now before any suspicion arrises. any help?

wow i thought this board would have more clue about mining, looks like it's just a shill fest

here are the steps:
1. buy a motherboard that fits 12 gpus
2. buy celeron proc + 4gb ram + risers for gpus
3. buy gold or platinum ~1k watt or more modular PSUs (you can spend a little more here since these are robust and last like 20 years... i use corsair)
4. buy used gtx 970, gtx 1060, gtx 1070 (these are the best for low starting price, best profit)....
5. put everything together and download nicehash miner
6. ???
7. profit

this will mine various coins and convert them to bitcoins, you will ROI in about 1 year if you do it right but the cool part is you can sell your rig or separate cards for virtually the same price

example:
i bought mining equipment and 6 used gpus and mined with them for like 3 months then sold the whole rig for extra 200$ profit after those 3 months lol

don't worry if you dont have a clue about building PCs or rigs, i figured it out in a day and have never built a PC before

i accept ether or various shitcoins as tip:
0xCe89e15073b8fA2387e32d8419822E0F9904db96

shh bitcoin mining is never profitable

There is nowhere else for the energy to go than to heat. A mining rig will create heat just as efficiently as an electric heater would - they are both 100% efficient.