People are spending thousands on mining rigs, but what is the realistic return on capital as of July 2017.
I just finished putting together my 6x GTX 1070 mining rig.. for the rest of the pieces feel more than free to ask me or check out my previous blog post about my rig setup here:
I was getting approx 161 gh mining ether
and 6700 sos on zcash ..
to what I thought were decent numbers: on the contrary.
From previous blog posts and research I have done I was expecting to turn a profit on this rig anywhere between 1000-1500$ after power costs and overclocking.
Boy was I shocked at the random problems I faced putting this thing together as a relative hardware noob on a side note and I ended up using ETH OS which I had just found out as of July 4th actually supports NVIDIA CARDS!!!!
I was thrilled, I thought that hard drive would end up being for a future rig, but the tables reversed..
I couldn't figure out how to boot windows on my ASROCK motherboard interface..
Just another pic of hardware etc.
After many trials and tribulations also from the ETH OS operating system.
Which in general is kind of easy to use but if you mess something up by accident is hard to recover from.
Thankfully I was able to switch the miner from Ether to z-cash successfully.. tried both and viewed the stats on the pools I was mining from.
From the default Ether pool it comes with it calculated that month to month I would be making approx. 300$ mo.
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PITIFUL! I couldn't believe this number especially after what I read.
I understand this may not be the most popular or successful pool but I ask and write on steemit for help as much as I am as a form of research unto others.
Then after seeing that number I thought I'd better try my luck with z-cash which is also now supported by NVIDIA cards on ethics's OS I will explain further in a new post I'm going to write but it will work.
Switched to z-cash..
got all happy when it worked.
Be sure to stop mining before making these changes, then restart.
Then a few hours later I looked at the stats on this new pool which also had a built in calculator.
They projected me to make 50$ in z cash in one whole month. I triple taked the screen lol.
Its baffling to me that these numbers have become so outrageously low.
Once again I could be in the wrong or unpopular pool, this one being nano pool this time..
How Does Cryptocurrencies Mining Work?
I don't know!
I mean I bought the thing and worst comes to worst have a sick gaming computer if nothing works out but one of my last resorts will be to use what's called the claymore miner in eth OS you can dual mine another coin paired with etherium as far as I'm aware.
After this whole experience I consider myself somewhat "In thew know," lol.
If you have any questions.. I hope I can help you.
So I will try to dual mine etherium and Sia coin and see if that generates any kind of decent profit margins.
I will keep it going if it's anywhere over 100$ net profit (why not)
I have a cool wireless power tracker built into my rigs surge protector so I know exactly how much energy it's consuming.
I will let you guys know how it goes, in the mean time.
PLEASE HELP, or maybe that's just the way it is now :(
fabulous learning experience, please don't hesitate to ask questions today or ten years from now..
I'll be here!
HOW MUCH DOES IT COST TO RUN A 1 CARD MINING RIG?
(shows 35$ here but that's because I shut off my system for a little while [it's an average]).
For people spending thousands of dollars on these things my point is Do research before you buy I'm not an expert, this is just my experience but of course I wish everyone the best of luck and abundance.