Monero Mining

Hey Veeky Forums, dirty nocoiner here. I'm new to all of this, but my dad just dropped $6000 on computers and shit to mine Monero. Is this guy retarded, or next level genius? From what I've seen, wouldn't it make more sense to just buy $6000 worth of Monero? Does anyone here mine, and if so have you had any success?

Unless he got vegas it's not worth it especially if you live somewhere like California where power is $0.175 / khw

What did you get?

Post some rig pics

or did you get 6 grand in grow lights and hydroponics supplies?

They live pretty far away so I have no idea. From what my brother tells me it's pretty good shit, and my dad's a big tech guy so I don't doubt it

Apparently it's 4 gtx 1060 GPUs with a new i7 cpu. Also we're in Canada and my dads a hippie so come July there will definitely be grow lights and hydroponic supplies

>Using Nvidia to mine Monero.

It's not 2012 anymore grandpa, nVidia is better than AMD for most coins nowadays.

You should make the pot market up there be all monero all the time.

Then the mining will really pay off.

>my dad's a big tech guy
>hes not using Vega gpu to mine monero

For xmr in particular its better

Its better to invest that money, Monero is difficult to mine, you only get a tiny fraction of a coin, and new gpus are coming out in a few months, 1060 aren't really that good , the i7 return on investment is 300+ days, best to just buy $6,000 worth on Monero right now and let appreciate in value over the next year

OP here, more info:

This is for one setup and he has two setups going. Energy is around $0.09/kwh

i'll give all you brainlets a little tip

if you mine monero instead of buying the shit on an exchange there is no record of sale

There's no record of sale on localmonero either.

>mfw californians pay 3 times as much as me for electricity

Monero mines much better on AMD cards. Trust me, I've tried several cards of both

I see mining as a hedge against any given crypto
It's risk mitigation as you get a steady income of whatever you decide to mine, and you can sell the equipment at a pretty good rate if you decide to stop.

It's likely that the optimal gains are in speculation rather than mining, but a little passive income is nice.

He WAY overpaid, even for two of those systems. Why the fuck would he buy an i7 for a mining rig?

Yes, but not for XMR. The new Vega cards have a weird advantage due to their insane memory bandwidth and HBM2. A vega 56 can do 1.9k KH on 135w tweaked properly. Nothing even comes close.

Is it possible to mine Monero without professional rig? I have this old gaming laptop that's unused, pic related with GTX970M inside. I also have free energy (renting room in shared apartment and the price includes all bills). Cold it actually work or will I just waste my time and run down the computer could otherwise sell on ebay?

Build a desktop if you have free electricity

Free energy? Go for it. You won't make much, but you won't be paying anything.

Just be careful of temperatures if you are looking to resell the computer. 75c is probably around the max temperature to run at 24/7 without significantly increasing your chances of fucking your gear up.

tell your dad to check whattomine, monero mining is suboptimal for his setup

Less than a dolar a day, and you're gonna damage your laptop

Remember too that this is canadian so the $6000 is really only around $4700 USD if that changes anything. As for the i7s I really couldnt say, he's pretty much just bandwagoning off the bitcoin hype and its looking like he didnt do enough research

Your IP address is still revealed with monero. OP's dad is gay.

Doesn't change anything. I recently built a rig with slightly higher cryptonight hashrate as your dad's. But for half the price (I am a leaf as well).

>love building shit
>want to set up a cool mining rig for sweet passive income because I'm shit at trading
>everyone says its not worth

It's profitable. It's just not optimal. But it's less risky.

Just build one!