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Showing 3 of 3 results by Nshift1
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Board Mining (Altcoins)
Re: fell into an opportunity to mine, need suggestions
by
Nshift1
on 22/09/2017, 18:50:25 UTC
There is no way anyone can ever tell you the ROI / profits you are likely to see. Anyone who tells you they can, is a liar.

I use profit calculating websites like whattomine.com and https://www.coinwarz.com/cryptocurrency and https://www.nicehash.com/profitability-calculator

Those websites can give you a rough idea of what you are likely to earn AT THAT VERY MOMENT. However, the next day, it can completely change. And it might be really profitable for months so you keep all your coins, and then the price plummets and your coins aren't worth much anymore, equally, you could sell them regularly and then the price sky rockets. It's all about personal preference and risk assessment, just like a normal stock market.

The coin you mine would depend on what cards you buy. Ethereum is a strong currency (second only to Bitcoin) with a big following etc. but that makes it difficult to earn many coins. A lot of people mine smaller coins and trade them for ethereum etc.

Personally, I am mining ZCash because I have older 280X cards that aren't very good at mining Ethereum, but my new rigs will likely mine Ethereum.

Totally understood, profitability is the biggest concern obviously since I dont know how long this sweet deal will last. I can trade the currencies myself on the exchange. I guessa  better question would be, why switch to Ethereum if you could generate more Zcash coins with your new rig? Just for the risk of zcash dropping off?
Post
Topic
Board Mining (Altcoins)
Re: fell into an opportunity to mine, need suggestions
by
Nshift1
on 22/09/2017, 18:37:26 UTC
Ethereum would be profitable if you have free electricity.

I find the main issue of hosting rigs is supplying them with power and heat.

You have to make sure that there is enough power coming from the breaker box etc. and need to know detailed information about your electrical layout. Many people move into an apartment with electricity included in the rent and want to mine, mine, mine, but don't factor in having to mess with the electrics, insurances problems, and the heat!

The heat for me is why I stopped mining at home. Granted I have rigs full of older, less efficient cards, but the I wasn't able to expel the heat effectively enough and it was quite miserable living with the rigs in the summer.

Just some things to think about.

Gotcha. So do you believe Ethereum would be best? What kind of return would it yield, if I created say a 4-6 card rig to start off? Also, cooling will not be an issue, I live in the south, but the location I have access to is in the north and it couldnt be better for heat distribution.. also winter is on the way.
Post
Topic
Board Mining (Altcoins)
fell into an opportunity to mine, need suggestions
by
Nshift1
on 22/09/2017, 18:26:45 UTC
So I have a unique setup and I was going through some of the older posts, but figured I would create a new one, because this topic often changes. I fell into an opportunity to access unlimited free power for the next few months with minimal cooling costs within a business office. I don't feel comfortable investing in a proprietary miner, so I was looking to create a CPU/GPU rig. I actually work for an IT supplier, so having access to the parts I need might be a little easier than doing it retail. Nothing crazy expensive since I am so new to this, but I wanted to know if there are any general suggestions on how to yield the biggest buck.... is Ethereum profitable? or shoot for other alts, and what does the mining landscape look like 6 months from now (just trying to get a better idea of ROI) because if its a coin I believe in, I may scale it up to a potential large setup. Any suggestions is appreciated.