Questions about mining

Can I use multiple GPUS of both AMD and Nvidia on one system?

I see people using risers of some sort to get multiple GPUS in one PCIe slot… That’s interesting.

What should an SLI user start off with? I’ve heard of “Nicehash”. It has a pretty low daily estimate of what I’m seeing other users getting with two 1080ti’s.

Should I be looking else where?

The reason you’re seeing lower quotes is that

a) those particular cards aren’t great at mining the more profitable coins
b) difficulty for the majority of GPU efficient coins is rising, meaning small scale miners have much thinner margins than in the past, and those margins are only getting thinner.

multiple manufacturers of GPU will work, but I wouldn’t recommend starting now as you don’t have profitable hardware, and it won’t be profitable if you buy hardware new.

We have a cryptocurrency discussion mega thread here:

Crypto Mega-Thread [A.K.A Cryptocurrency mining isn't for hobbyists and Ethereum's terrible]

I suggest you read over the profit and cost analyses posted there by @anon37239676. They’ll end up saving you a lot of money.

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I’ll check it out thx.

Actually I saw another user with the same configuration as me and he’s making the same amount so I assume the rates are just down right now

Using GPUs from different vendors works, though overclocking is a PITA. There is always one primary card which handles the display. All cards from the same vendor work fine, while all others go haywire. It does work though.

I’ve found nicehash to be okay if you already have cards, currently payouts are more than electricity costs (accurate to prob $0.3/kWh)

I wouldn’t buy cards to mine though

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Lol well that’s not good. I thought about building something big for it or buying an s9. Surely there’s a way to profit a little?

You’re late to the party. Mining was super profitable two months back, but profits have been declining since. If you’ve already got the cards give it a try, but buying new hardware is very risky (and expensive) at this point.

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I keep reading about cloud mining. I haven’t had a lot of time to read about all these different things.

Cloud mining is all sorts of problematic. If you think about it the concept makes no sense. If the hardware you get allocated was profitable then why would they sell it? It would make much more sense for those companies to just use the hardware themselves. There have also been several scams in cloud mining; Mindless people in gold rush are easy targets :smiley:

Change that. There is no such thing as free money and mining is no exception. There’s pitfalls everywhere that are not obvious to newcomers.
As I’ve said there’s no problem if you already own hardware - poke around and get some experience. But for the love of god don’t invest money unless you understand what you are getting yourself into.

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8-12 month provided you dumped before the eth crater*

since about 3-4 months back due to difficulty spikes**

Not worth it unless you set it up yourself and know how to game flash and volume preferential pricing

They can make more on bootstrapped services like software on the AWS and Azure marketplaces. There are tons of other subsidies in their business models as well that I’m not going to get into, and there’s also the distinct possibility that some companies use certain types of cloud instances as loss leaders for lock-in in the first place. That subsidy can be used by smart people for other purposes.

That said cloud mining contracts are a scam. The only way you can even get close to profitable with it is careful and intermittent automated spin up and running.

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I made almost 4$ since last night. But when I checked it today it was down to $0.89 for daily estimated earnings so that seems to be unreliable.

I hate to play the part of a pessimist but it seems to me like this could be a Ponzi scheme. Unless electricity is free or you have some kind of alternative energy this is not a viable option.

I was considering building a mining rig but I’m wondering how it adds up based upon my little test I just did with my system

There was a big reversal in crypto trends last night, so I’d wager that’s why your profit dropped.

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It helps to actually have competitive hardware, you don’t.

Also, you’re right that some coins are ponzis.

No, there was a continuation in extreme of the aggregate trend.

Yes… I’ve seen some pretty big mining builds… but if a guy for example has 10 x 1080ti, that’s just a bigger version of what I have. Or the antminers… I wonder… which is actually worth it?

Neither if you plan on making money.

lol… well… kind of narrows it down. Especially with the giant farms in China… not sure this will ever be a viable thing again.

It’s viable, the barrier to entry just makes any small scale investment borderline gambling. Just buy bitcoin with the same money and hold. You won’t be disappointed.

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How much investment do you think actually makes it worth it? A larger scale is just that, more. If you don’t actually have a way to make electricity lower… that’s where the actual investment should be.

No, it really isn’t.

You rent a space that gets industrial electricity rates. You get volume pricing on asics. You start a pool. You pay a software engineer to optimize your mining software and power management. You do a thousand other peripheral things that suddenly become worth doing to increase efficiency in aggregate.