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Mining

  • 28-11-2017 1:06am
    #1
    Registered Users Posts: 1,774 cadete


    Gents
    Any help with getting started in mining?
    I’m running an i7 gtx 980ti windows 10 and looking at mining decred or meta verse most likely.
    Could anyone advise on setting up and getting started? Pools, software choices and wallets?
    Anything to look out for or general tips?
    Cheers


Comments

  • Registered Users Posts: 89 ✭✭ CutWeldDrive


    easiest way to get started is with a software called minergate.

    but to be honest unless you have a massive rig, and cheap electricly ( i.e work in i.t and use the companys server room, ***don't get caught***) it's not worth the hassle and won't be very profitable.

    have a look at genisis mining, hashflare, or USI-tech
    better returns an no hardware or electricy cost...

    This is just my opinion, and the route i've went, and so far so good for me...


  • Moderators, Motoring & Transport Moderators, Music Moderators Posts: 12,764 Mod ✭✭✭✭ Zascar


    Plenty of ready to go mining rigs on adverts: https://www.adverts.ie/for-sale/computers/124/q_mining+/price_500-*/

    However I wonder why are people selling them if they are printing money?


  • Moderators, Category Moderators, Motoring & Transport Moderators, Regional East Moderators Posts: 59,708 CMod ✭✭✭✭ unkel


    Zascar wrote: »
    However I wonder why are people selling them if they are printing money?

    Lots of reasons...

    Because they either have outdated gpus and want to replace their rig with a more powerful one. Or their asking prices are far higher than it would cost to build a rig yourself, so they make a bit of money building and selling rigs.

    Some other reasons: if you pay full rate electricity, it's not that profitable. It takes more time to manage mining than people realise. There is downtime too. The other half doesn't like the looks of the rig or the sound it makes. People need cash for christmas, etc. etc.

    "Wind is Ireland's oil" - An Taoiseach, 25/05/2022



  • Registered Users Posts: 2,259 ✭✭✭ Shiny


    Zascar wrote: »
    Plenty of ready to go mining rigs on adverts: https://www.adverts.ie/for-sale/computers/124/q_mining+/price_500-*/

    However I wonder why are people selling them if they are printing money?

    I asked the same question to the guy I bought mine off, he was selling it as he could no longer mine in the location where he was getting free electricity.

    You have seen my struggles (noise/power consumption) in the mining thread so I would probably consider selling mine. Was going to sell the graphics cards and keep the frame.


  • Moderators, Motoring & Transport Moderators, Music Moderators Posts: 12,764 Mod ✭✭✭✭ Zascar


    Ah ok thanks. So a mate was thinking about it as he has a business with a big warehouse and could easily run one and basically get free electricity.

    So does that make it worthwhile? For me id go mine coins that are less well known but have a better chance of hugely appreciating in the future - no so much bitcoin or ethereum. But I could be wrong.

    So what is a good mining rig to buy can anyone advise?


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  • Moderators, Category Moderators, Motoring & Transport Moderators, Regional East Moderators Posts: 59,708 CMod ✭✭✭✭ unkel


    Zascar wrote: »
    For me id go mine coins that are less well known but have a better chance of hugely appreciating in the future

    That strategy makes no sense from a financial point of view. If you decide too mine, it's best to mine one of the most profitable coins (and change if this changes)

    If you believe a less well known coin might appreciate hugely and you are willing to gamble / speculate on it, you should buy that coin

    "Wind is Ireland's oil" - An Taoiseach, 25/05/2022



  • Moderators, Motoring & Transport Moderators, Music Moderators Posts: 12,764 Mod ✭✭✭✭ Zascar


    Ok fair enough. So what coins currently make the most sense? Who mins the others?


  • Registered Users Posts: 6,026 ✭✭✭ grindle


    unkel wrote: »
    That strategy makes no sense from a financial point of view.

    That's true if you've bought the machine specifically for mining as an economic enterprise.

    As I have the gear anyway I prefer to point my hashrate towards something I consider undervalued with a lot of upside (while heating the room) and spend my hard-earned on the less shïtcoin-y coins.


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