Official Mining Thread

[KAC]

Corsair RMi 1000 W PSU any good?

[Dave]

Nice Hash Legacy is out now with the DTSM miner included :D

https://github.com/nicehash/NiceHash...egacy/releases

Nice little bump on my 970 :3

So tell it to fug erf and hide the mining windows in the settings?

Didn't know you could do that, awesome! Looks like about a 20 Sols/s boost for me (DTSM vs. EWBF).

[KAC]

I cancelled everything except the evga hybrids.
Maybe next month I delve again into this.

[Dave]

[KAC]

[Riptide]

LOL you guys

I did test ccminer over the weekend and targeting the one GPU worked great. Battlefront ran just fine while the other GPU kept mining.

Kind of academic at this point since I'm going to be moving the second GPU into the frame downstairs anyway.

[KAC]

I am having second thoughts all the time. You gays know me. I am thinking about fixing my financials and then going off the deep end into mining. I need till end of Feb before I go full in.

[nycdarkness]

I am having second thoughts all the time. You gays know me. I am thinking about fixing my financials and then going off the deep end into mining. I need till end of Feb before I go full in.

Wouldn't go all in buying lots of stuff just to do this. Try with 4-5 cards and see. 4-5 cards is a minimal loss even if coins tanked tmr. You just loose out on the second hand market a tad.

[KAC]

Right now I don't even know how to cash out the money I make since coinbase is not in UAE.

I know I can use bitoasis.net or bittrex but not sure how that will work.

Meanwhile have 8 cards on order.

[OverclockN']

Wouldn't it be a good idea to figure out how to do the mining, configure the card(s), and cash out the Bitcoin payouts before diving in 8 cards deep?

Hate to be the voice of reason here, but what's the rush?

[Dave]

Can't even get nicehash legacy to run and is buying 8 cards...

[KAC]

I ran nicehash legacy. I just never got around to finding out why there is a NHML and a bin file that is 147 mb.

[Exposed]

Just send your coins to me and I'll handle the rest.

[KAC]

Just send your coins to me and I'll handle the rest.

Sounds legit. Send me your wallet details.

[curio]

I bought the rest of the Sea Hawks that KAC didn't get; I'm in on this

[KAC]

I got Corsair HX1000 Plats for 199 a pop on Amazon.

[KAC]

lol 3 jokers on r3d swiped 18 1080 Ti refurbs..

[curio]

That is funny

So you didn't cancel yours?

[KAC]

No I actually replaced the whole order. I even called these guys and they are legit. Good thing is that I got the Corsair Plats for 10$ extra each and in stock instead of Corsair Golds.
My card has already been charged for the gfx, psu, all the cable shite, and ssd. Only pending is case, mobo and cpu. Also, the EVGA Hybrids haven't been charged.

[curio]

Nice

Yeah I'm a chunk of change into this now too; we have the money to do this at the moment and I only need the market not to tank for 6 months to get my full ROI. Even if it tanks before that, I can still sell those cards and make a lot of my money back.

I'm excited but also a bit nervous

[KAC]

I had 17K USD lying around. I told my wife, I can either buy a house for 200K USD and rent it for about 15K a year or I can use this money to build a mining rig and give you back 15K a year. She said buy the damn thing.

[curio]

Basically the same convo I had with my wife; once we crunched the numbers she just said you better do this now

Oh and thanks Dave

[KAC]

**** you Dave is what I said.

[acroig]

**** you Dave is what I said.

[nycdarkness]

My 4 star wars xp cards just showed up lol. OH man for once I feel bad for blocking a card.

[KAC]

My 4 star wars xp cards just showed up lol. OH man for once I feel bad for blocking a card.

So how many rigs are you building? Cards?

[Dave]

So wait, KAC IS building the rig afterall? lmao...

[OverclockN']

So wait, KAC IS building the rig afterall? lmao...

I don't know what the heck is going on any more.

I do know that my 2nd 1080Ti will be here Wednesday, so looking forward to mining and gaming with that. I'm going for lowest production on the forum, and I don't think anyone else here is going to be even close!

[Mangler]

So, is it even worth mining with 980s?

Or would a single vanilla 1080 be faster than two 980s?

[andino]

I don't know what the heck is going on any more.

I do know that my 2nd 1080Ti will be here Wednesday, so looking forward to mining and gaming with that. I'm going for lowest production on the forum, and I don't think anyone else here is going to be even close!

I will be taking that spot. Looking to add 2 1080ti's. So total I'll have 2 1080ti's and 1 980ti in the farm. The 980ti will be all the time and the 1080's will be used when I'm not gaming.

I'm just wanting to get some ROI to cover some of the upgrade costs.

Depending on how it all goes I might keep mining to pay for a total computer rebuild by the end of the year.

I'm really not expecting much out of this.

[Riptide]

Hard to see how profitability will go up at this point with so many people jumping on board and throwing tens of thousands into it. Difficulty is set to blow up and go through the roof.

Guess we'll see what happens in the next 2-3 months.

Remember:
Past performance is no guarantee of future results.

Not trying to be a negative Nancy lol. I hope it holds out.

[andino]

Anyone know how to get around that 1 Per Household limit that EVGA has?

I'm really thinking of having my wife buy one and deliver it to her work.

[andino]

I'd be happy at $5 to $10 a day.

It was making $0 a day a week ago.

[OverclockN']

I will be taking that spot. Looking to add 2 1080ti's. So total I'll have 2 1080ti's and 1 980ti in the farm. The 980ti will be all the time and the 1080's will be used when I'm not gaming.

I'm just wanting to get some ROI to cover some of the upgrade costs.

Depending on how it all goes I might keep mining to pay for a total computer rebuild by the end of the year.

I'm really not expecting much out of this.

I have two 1080Ti's (one on the way) with no intention of expanding further. Like you, I'm just looking to get back a portion of the upgrade costs. No expectations beyond that. It's my only system, so it gets shut down to play games too.

[Riptide]

Coinbase is such a garbage website and service. Paypal still down I can't add the account. Tried two weeks ago and the window would just close out when I would click on it. Now they have a note up saying it's down.

I can't add a credit card. Tried twice once with a VISA and once with a MC. Their system still keeps telling me that I'm putting in the wrong amounts even though I am not.

I finally gave up and email'd them which basically means waiting for weeks if I ever get a response.

[andino]

I have to admit that I'm getting a kick out of watching Dave and KAC. I can see doing a small farm like them. $7K to $10K.... At the end of it they get nice stuff and it's a fun hobby that will make them some money.

What really freaked me out were the people dropping upwards of $50k into mining with the expectation of getting a return on startup within 3 to 4 months. That's just very optimistic.

There are going to be a ton of people that lose their shirt over this stuff. But there always are people that get into something and don't realize the technical skills that are needed to maintain a rig and the time and knowledge to use it wisely.

I can guaranty that there are people out there OCing the whole rig to burn through the algorithms and are killing their equipment. Sometimes slow and steady wins the race. That's why I'm not too keen on getting used cards right now.

It's still interesting to me. I'll see how it all goes. I'm now more concerned about how the transfer of bitcoin to cash will actually work and the fees associated with doing this long term. Then there are the taxes and what not with it all. I'd freaking hate to get audited over BitCoin.

[Dave]

Coinbase is such a garbage website and service. Paypal still down I can't add the account. Tried two weeks ago and the window would just close out when I would click on it. Now they have a note up saying it's down.

I can't add a credit card. Tried twice once with a VISA and once with a MC. Their system still keeps telling me that I'm putting in the wrong amounts even though I am not.

I finally gave up and email'd them which basically means waiting for weeks if I ever get a response.

Maybe if you didn't live in a shitty state you'd not have such problems or maybe switch to a bank that coinbase recognizes.

[curio]

I have to admit that I'm getting a kick out of watching Dave and KAC. I can see doing a small farm like them. $7K to $10K.... At the end of it they get nice stuff and it's a fun hobby that will make them some money.

What really freaked me out were the people dropping upwards of $50k into mining with the expectation of getting a return on startup within 3 to 4 months. That's just very optimistic.

There are going to be a ton of people that lose their shirt over this stuff. But there always are people that get into something and don't realize the technical skills that are needed to maintain a rig and the time and knowledge to use it wisely.

I can guaranty that there are people out there OCing the whole rig to burn through the algorithms and are killing their equipment. Sometimes slow and steady wins the race. That's why I'm not too keen on getting used cards right now.

It's still interesting to me. I'll see how it all goes. I'm now more concerned about how the transfer of bitcoin to cash will actually work and the fees associated with doing this long term. Then there are the taxes and what not with it all. I'd freaking hate to get audited over BitCoin.

Read my mind all around

And I've got to read up about the taxes part...

[Dave]

Read my mind all around

And I've got to read up about the taxes part...

"Did you buy anything online last year that you didnt pay taxes on"

[OverclockN']

I have to admit that I'm getting a kick out of watching Dave and KAC. I can see doing a small farm like them. $7K to $10K.... At the end of it they get nice stuff and it's a fun hobby that will make them some money.

Agreed. I can see the appeal and the potential profits involved.


I don't understand the tax part either. Are we suppose to be keeping a record of our "earnings" through the mining and keeping a portion of it for taxes at end of year? I've never had to do anything like that or even consider it before. Or does this only apply when you reach a certain eanings threshold that you then have to consider it a small business and is therefor taxed?