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Standard User IranianGiraffe
(committed) Wed 05-Jul-17 22:56:16
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Re: GPU


[re: astateoftrance] [link to this post]
 
Yeah Bitcoin is deffo not viable now GPU wise.

I have deducted electric costs from my profits.

Basically, at the moment I get around £12 a day from my 3 cards. Lowering the power on the cards my 1080 use around 125watts each and my 1080ti around 150 so 400 in total. At 14p kWh it's around £1.50 a day.

So at the moment I get just over £10 profit.

Using Nicehash tho they currently pay me around £10 a day then less the £1.50 for the cards but I mine it myself (which takes a while to setup but you get a better return as seen above)
Standard User Chrysalis
(legend) Thu 06-Jul-17 08:39:58
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Re: GPU


[re: IranianGiraffe] [link to this post]
 
Seems all good to me just confusing tho because of all the variables, I will likely do the easy one you mentioned at least to start out with.

My concern tho is that you mention profits are dropping and there must be a reason for that is it because more people catch on the extra competition reduces profits? As I am considering the viability of buying new cards just for this.

I have a gtx 1070 which the link you provided estimates 100gbp a month profit which seems nice enough, at those profit levels it then makes sense to buy extra gpus as they will be paid for within half a year.

Consider you said this is a low profit now and that you used to get higher, it sounds like you were making a killing from this earlier.

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Standard User jorkila
(fountain of knowledge) Thu 06-Jul-17 15:50:41
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Re: GPU


[re: IranianGiraffe] [link to this post]
 
Using ethminer I was seeing an average of 27Mh/s mining to Nanopool but was seeing that others were easily hitting 30Mh/s+ with a single 1070.
So I looked into it and found that claymore is better optimised for the 1070 and I'm now seeing 30Mh/s but for some reason it's now not registering on Nanopool frown

Know of any reason why?


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Standard User jorkila
(fountain of knowledge) Thu 06-Jul-17 15:51:51
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Re: GPU


[re: jorkila] [link to this post]
 
Never mind, I literally submitted this post then refreshed the Nanopool page and all was showing, happy days!!
Standard User IranianGiraffe
(committed) Thu 06-Jul-17 16:04:18
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Re: GPU


[re: Chrysalis] [link to this post]
 
As you said a GTX 1070 in that link said £92.59 earnings in the past month (after electric costs)

BUT..... If you look at the 1 day the profit after electric is only £1.96 so x 30 = £58.98 That's going by yesterday's price so as you can see its' dropped a fair bit.

1 month ago you were looking at around double what it is now.

The profits drop for a number of reasons, The 2 easiest ways of describing why it may have gone down tho is 1) The value of the coins has dropped some, 2) The more people that mine a coin the higher the difficulty gets so it takes longer to mine.
The price of the coins has shot up the last few months and so there was bound to be some retraction in the market at least.

Regarding extra GPUs, As you've probably worked out I ended up purchasing some more myself to mine (pretty sure no one needs 2x 1080 and 1x 1080ti to play games on LOL, The way I look at it is if the market crashed and there was no point mining I would have to sell the cards and I've allowed myself to lose £100 on each card selling it 2nd hand (on eBay and forums the difference is closer to £50 than £100 so I was being conservative.

The thing you have to be wary of is a lot of people purchased the 480/580 cards as they were around £200-£280 each because you could get £4 a day on them at 1 point so basically the cards were paying for themselves after 2 months so you can see why there was no AMD cards available anywhere, Then people started having to move to other cards and the 1060 and 1070 were next as they also were cheaper with quicker returns, so if the market did crash there would be a lot of cards put on the market driving the price down (it happened a few years ago), What I've done is purchase the 1080 and 1080ti now as although they cost more and the returns to cost margin was lower if the market collapsed 1) There are fewer people mining with them so fewer people to drive price down just getting what they can for their cards and 2) People are always looking for a top end card.

Well I've more than got that back now but then like I said it was making more money before, I would be a lot more wary of doing it now.
Standard User IranianGiraffe
(committed) Thu 06-Jul-17 16:12:52
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Re: GPU


[re: jorkila] [link to this post]
 
LMAO

Always the way, Message about something not working and then seconds later boom it's working.
Claymore was deffo the better miner out there for Ethereum.

I see that Ethereum and Zcash are pretty much the same return at the moment for 1070s so hopefully, all the 1070 people will move over to that so I can mine my Zcash in peace lol.
Standard User jorkila
(fountain of knowledge) Thu 06-Jul-17 19:30:21
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Re: GPU


[re: IranianGiraffe] [link to this post]
 
What pool are you using?
Standard User IranianGiraffe
(committed) Thu 06-Jul-17 19:46:22
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Re: GPU


[re: jorkila] [link to this post]
 
Depends on the coin TBH

Zcash.flypool.org , Ethermine.org , Suprnova.cc , to name a few
Standard User Chrysalis
(legend) Fri 07-Jul-17 18:24:14
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Re: GPU


[re: IranianGiraffe] [link to this post]
 
so did a bit more reading.

so every so often the rewards are halved for bitcoins
in addition every so often the mining is made harder as well

So this explains why rewards are getting lower, presumably this will hit a point when it crashes, when people deem not profitable enough so sell their kit.

Then at some point in future it kicks off again with a boom period, me a jorky getting in towards end of current boom period?

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Standard User jorkila
(fountain of knowledge) Sat 08-Jul-17 11:22:56
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Re: GPU


[re: Chrysalis] [link to this post]
 
You get setup?
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