Your Mining Technique

[SuFf0c8]

Hey Carbies,

So I am curious about what technique you use for mining? Do you:

• Use NiceHash and get paid out in BTC?
• Use your preferred miner and get paid out in specific altcoins?

If you prefer mining altcoins, then:

1. What criteria do you use to pick your coin? Difficult? Profitability/24h etc.
2. How long do you stick with a particular coin? A day? A week? A month?
3. Do you HODL? Or do you mine up to a certain amount of coins (or until that coin reaches a specific price range) and then sell?
4. Do you mine certain coins in a pool and get paid out into a different coin?

Currently, I am mining coins which are the most profitable over a 3 day period (using whattomine.com). I mine each coin for a day or two then re-evaluate.
The problem with this is that my portfolio is full of some many different coins and (although it is very diversified) growth in a small number of coins doesn't equate to large gains.

Thanks for your input guys!

TL;DR
Do you mine altcoins? If so, how do you choose your coin and how long do you stick with mining it?

 

[Flex]

My problem is I do not have the time to keep track of what coins are the most profitable at the time and then hop from pool to pool.
Lately been mining Zcash, but since BTX and Nicehash fees have been reduced, might be moving back to NH

 

[Ant_Shrew]

Similar issue to Flex.
Dont have time to manage everything so stuck with NH.
Also found even though a coin was currently profitable unless I sold it immediately the values would change and it wasnt at the same value when I would sell.
+Rather have my money is BTC and not alt coins

 

[SILTECH786]

Based in theory if you mining a certain alt coin do your calculations on electricity data usage and also put aside 15% for unexpected issues -

Example 2 months ago zcash was 5560 then it jumped to over 13k at that point in time if you ran a 6 gpu rig 1070/1080ti and you made lets say 6 coins in a 2 month time frame you could have blasted it and cover half the hardware

Similar thing had you bought 5 coins and sold it at peak your gains would be over 1000% it all comes down to how much patience you have really ,,,

 

[pXius]

My AMD cards mine ETH.
My Nvidia cards switch to the most profitable pools within MPH/Ahashpool which pay out in either ETH and BTC respectively.
I straight out buy the Alts I want, because gambling is fun.

I don't mine for a profit. To me, it's a hobby I enjoy.

My personal asset value is still based mostly in old school share portfolios/unit trusts. I wouldn't build a lifestyle or retirement plan around crypto at this point in time.

 

[SuFf0c8]

I wouldn't build a lifestyle or retirement plan around crypto at this point in time.

I agree completely with this, I still stick by the motto of only putting in as much as what you are willing to lose.

 

[SuFf0c8]

Similar issue to Flex.
Dont have time to manage everything so stuck with NH.
Also found even though a coin was currently profitable unless I sold it immediately the values would change and it wasn't at the same value when I would sell.
+Rather have my money is BTC and not alt coins

I am starting to lean towards this, as the last thing I want to do is micromanage, I mean the point is to just leave them and let them do their own thing.

 

[Toxxyc]

[MENTION=24396]SuFf0c8[/MENTION] I sent you a PM on the 16th (a week ago), telling you to remove your signature or get a reseller subscription. You chose to ignore me (without even a reply). You have until COB today to get that reseller subscription or you'll see a vacation from Carbonite.

 

[Toxxyc]

I am starting to lean towards this, as the last thing I want to do is micromanage, I mean the point is to just leave them and let them do their own thing.

Thanks for the majority, but I have to ask for that last link to go too, please.

 

[SuFf0c8]

Thanks for the majority, but I have to ask for that last link to go too, please.

No can do, ygpm

 

[Toxxyc]

No can do, ygpm

I guess the "please" made it sound like you had a say in the matter. PM replied.

 

[SuFf0c8]

Well, this thread has derailed slightly :\

Let's try to get it back on course shall we...

 

[Mous3]

Currently mining Zcash with Nanopool and Eth with Nanopool. But as previously said time to micromanage is non existent. Considering going to NH.
Question for the guys using NH (@Ant_Shrew @Flex). Do you use an external Wallet or NH wallet

 

[Flex]

Currently mining Zcash with Nanopool and Eth with Nanopool. But as previously said time to micromanage is non existent. Considering going to NH.
Question for the guys using NH (@Ant_Shrew @Flex). Do you use an external Wallet or NH wallet

I had an external wallet, but they are forcing people to use internal wallets.
The payments to external wallets have no set schedule, so 0.01BTC can be payed out the next day or take weeks.

So have an internal wallet now

 

[Mous3]

I had an external wallet, but they are forcing people to use internal wallets.
The payments to external wallets have no set schedule, so 0.01BTC can be payed out the next day or take weeks.

So have an internal wallet now

AAAh snap ok.
And have you transferred BTC from your NH wallet to say luno or so?

 

[Flex]

AAAh snap ok.
And have you transferred BTC from your NH wallet to say luno or so?

Not recently no. Letting it build up a bit before I do that.
But always used to yeah.

I saw the BTC transfer fees went down again on NH Facebook

 

[SuFf0c8]

I have now started to use Mining Pool Hub with MultiPoolMiner. I really enjoy the auto exchange (not only limited to BTC like NH). This seems to be the best solution for me, very little management.
Thanks [MENTION=40]pXius[/MENTION] for your comment

 

[Galaxy]

Hi guys

So I don't know much about mining but I realised recently I don't pay for power where I am at, so what would be the best way for me to start? I have a machine with a G3258 and can take 1x graphics card. Should I slap a GPU in there or do I buy a dedicated machine? Is there any guides on here for what to do? Thanks!

 

[Sola Scriptura]

Hi guys

So I don't know much about mining but I realised recently I don't pay for power where I am at, so what would be the best way for me to start? I have a machine with a G3258 and can take 1x graphics card. Should I slap a GPU in there or do I buy a dedicated machine? Is there any guides on here for what to do? Thanks!

Maybe first mine with that rig and one gpu, figure it all out, and then decide if you want to get a bigger mining rig. There are plenty of guides online and people on here that can help you out

 

[Snyper564]

Hi guys

So I don't know much about mining but I realised recently I don't pay for power where I am at, so what would be the best way for me to start? I have a machine with a G3258 and can take 1x graphics card. Should I slap a GPU in there or do I buy a dedicated machine? Is there any guides on here for what to do? Thanks!

Someones paying that power and its a matter of time before someone comes looking for the mining rig. Tell all my friends in complexes etc if the power usage goes up more than normal someone is mining. SO just be careful...

 

[TenjouTenji]

I find that the Nicehash program often switches to an algo that really isn't more profitable. I literally watch it switch from for e.g. Neoscrypt doing $6 to Blake doing $4.
Decided to just stick to Whattomine stats, and use the best miner for that algo and simply use a Nicehash stratum server.

So at the moment i'm using HSRminer on a Nicehash server. With my current setup, (10x 1070, 1x 1080ti), Neoscrypt has been topping the charts for the past month.

 

[MountainWolf Tech]

I find that the Nicehash program often switches to an algo that really isn't more profitable. I literally watch it switch from for e.g. Neoscrypt doing $6 to Blake doing $4.
Decided to just stick to Whattomine stats, and use the best miner for that algo and simply use a Nicehash stratum server.

So at the moment i'm using HSRminer on a Nicehash server. With my current setup, (10x 1070, 1x 1080ti), Neoscrypt has been topping the charts for the past month.

Whattomine.com has Neoscrypt at the top of the list quite often but my Nicehash has mined 0.20$ on Neoscrypt and 60$ on Equihash.... Don't ask me why...

 

[SILTECH786]

The difficulty was raised on equihash from nicehash side post was tweeted few days ago

Earlier today I watched a new 6 x 1070ti build doing 3000 sols on ewbf miner which equates to 18 usd and on nicehash the guy was getting 25 usd mostly on neoscript