Is anyone Cryptomining?

[sedeflonga]

Hi, I was wondering whether any of you is cryptomining (as I do). I mine litecoin and darkcoin at the moment.

Depending on rate, I mine everything worth trading/selling on sites like mintpal(dot)com

My small mining farm is seen here @ http://darkmatter.use.com

Please reply if your already in it (you can reply if your not too )

Here a website which explains it a bit http://www.coindesk.com/information/

Have a coming nice weekend !

EDIT: added link for explanation

Edited May 30, 2014 by sedeflonga

[wjhall]

Looked at your web site. You have a serious looking piece of kit there. How much would it cost to set up for Mining?? And what sort of return??

[crabdog]

I'm not the least bit interested in cryptomining but I would love to have just one of your GPUs

[sedeflonga]

Looked at your web site. You have a serious looking piece of kit there. How much would it cost to set up for Mining?? And what sort of return??

Setup mining is just setting up a PC with one or more good graphic cards. The return depends on everyone themselves because there are so many different coins to mine. Depending on the value of return you chose the coin.

I could tell you to mine litecoin, darkcoin..etc but it wouldn't help much as it depends on the market.Before graphic cards were used people used their CPU's to mine. As time passed by, someone wrote a program to use the graphic card to mine which will speedup mining more than 100 times (or more?).

-AMD: R9-280x was the first to be used in Bitcoin mining (the first cryptocoin). But the 250-300W it uses was a hard burden for many. Especially if you have many of them. For some, electric bills ate a big part of profits.

-NVIDIA: was never used in mining operations as their cards were very slow and software support was next to none UNTIL they released the 750Ti - http://www.geforce.com/hardware/desktop-gpus/geforce-gtx-750-ti

This card only eats 60W (written on package) but in fact, even overclocked it consumes only around 38-40WATT and that with 250-300kh/s. So around half the speed of 280x but only 10-15% of electricity

-How to find a mineable coin?

https://bitcointalk.org/ << this forum was established when Bitcoin was born. most (if not all) coins are introduced there. A good place to start.

Now we need to sell those mined coins: At the moment 1 (one) bitcoin is worth around 630US$ (source btc-e,com 02-06-2014). I do not recommend to mine Bitcoin as it is fominated by ASIC (application specific integrated circuit). What does that mean? It meas that there is very specialized hardware just to mine Bitcoin.

As we can see here I mine litecoin which I will CONVERT to Bitcoin- http://www.use.com/b969dc213f7a1fa1fae2

-How do I convert a coin to Bitcoin?

Markets: There are some Trading platforms out there like:

www.btc-e.com (not many coins but I started there)

www.mintpal.com (all or most altcoins)

Most profit I make is not by mining itself but by trading. You can buy cryptocoins but there is no guarantee you will ever receive as cryptocoin is not legislated in any country, so you are not protected from fraud.

Mine it yourself and have peace of mind.

https://bitcoinwisdom.com/markets/btce/btcusd < real time update of bitcoin prices

EDIT: added market statistic link

Edited June 2, 2014 by sedeflonga

[Bardeh]

Roughly how much did it cost you to set all this up? How long do you estimate it will take you to recover the initial investment and start making profit?

[sedeflonga]

You can invest 1 million baht and make no profit. Also you can invest 100,000 Baht and make a lot of profit. All depends on HOW you play it. There is no point in telling how much I invested because I not use all rigs for mining only. I use them as render farm and password cracking service too.

If you want to know which graphic card is the best or which card is how fast you can go to

https://litecoin.info/Mining_hardware_comparison

with that information in mind, head over to litecoin mining calculator

http://www.coinwarz.com/calculators/litecoin-mining-calculator

with both information everyone can calculate how much profit they make -thus return.

I bought the nVIDIA 750TI for 6500 Baht. Now its around 5xxx Baht. 250-300kh/s (kilo hash per second) max 60Watt consumed.

The AMD R9-280x was 12kBaht. Not sure whether in Thailand they reduced prices but AMD stated that those cards are now 5000 cheaper. (600-700 kh/s) between 250 and 300 Watt consumed!!

Edited June 2, 2014 by sedeflonga

[sedeflonga]

I'm not the least bit interested in cryptomining but I would love to have just one of your GPUs

[sedeflonga]

As I can't edit my post anymore I think it is important for some of you to get this info

http://www.use.com/showoriginal.pl?set=b969dc213f7a1fa1fae2&p=1

I am mining at this place right now.

Edited June 2, 2014 by sedeflonga

[sedeflonga]

UPDATE:

Paypal and Ebay are considering use of bitcoins. If that doesnt rattle anyone then sleep on.

eBay CEO: We Are ‘Actively Considering’ Bitcoin Integration

http://www.ibtimes.co.uk/bitcoin-integration-paypal-being-actively-considered-says-ebay-ceo-1448679

Bitcoin Set to Overtake eBay's PayPal in Transaction Volumes
http://www.ibtimes.co.uk/bitcoin-set-overtake-ebays-paypal-transaction-volumes-1449856

""There is nothing holding PayPal back from pursuing digital payments today, as part of eBay.

In fact PayPal is pursuing digital payments and is the leading digital payments alternative in

many different environments," Donahoe said."

Edited June 5, 2014 by sedeflonga

[speedemon]

I am about to make an investment in a rig...I have been researching/observing bitcoin for about 6 months now. I have now become fascinated by and addicted to bitcoin/altcoins and their markets. Now I only wish I had acted sooner. At first I just wanted to buy into the bitcoin market for holding investments but now I want to begin mining for myself and trading as you do. I'm in the process of setting up my laptop to mine peercoin. I have an Nvidia gt 640m capable of about 45 kh/s. From the calculations I did on coinwarz, I'll make about $250us anually...ha! I'm only doing this to become familiarized with the process from the bottom up. Its quite complex for the newb with limited computing knowledge but I'd rather not throw money at something I dont, at least, slightly understand. when I get comfortable enough with my knowledge, I have about 1000USD investment budget to start and was drooling over this for scrypt mining...

http://zoomhash.com/collections/complete-asic-sets/products/plug-and-play-gridseed-80-chip-blade-miner-5200khs-door-to-door-within-4-business-days-guaranteed

What do ya think? Also what is the best forums for newb miners to get general help and info with it all? I've seen soooo many but have no idea what ones are worth my somewhat limited time? Overwhelmed

Thanks for the info so far and happy mining.

CHOK DEE

[Polanskiman]

I'm in it. The only regret is not having invested earlier. Been mining for 3/4 month intermittently. Where you at?

[Polanskiman]

Looked at your web site. You have a serious looking piece of kit there. How much would it cost to set up for Mining?? And what sort of return??

Selling 2 x R9 280x in case you are interested. One only mined for about a month. The other is an RMA so completely new. Never plugged.

[jarrcbb]

I was mining, but profits decreased especially given electricity costs including air con so haven't turned it on in months.... I have a small rig with 3 AMD r9 290s. Made my money invested back, but not much else. Was fun though.

[Polanskiman]

I was mining, but profits decreased especially given electricity costs including air con so haven't turned it on in months.... I have a small rig with 3 AMD r9 290s. Made my money invested back, but not much else. Was fun though.

You would have had to switch to Nvidia cards which are now more powerful and specially more energy efficient, close to 70% more power efficient.

[howto]

Just to note... geforce-gtx-750-ti does not do SLI.

But there is a tweek to make it go faster.

From what Iv'e read, a decent card.

Mabey nex gen will do SLI.

OP, You mentioned u also do rendering with your stuff.

You thoughts would be appreciated by Lannabulls on this thread...

http://www.thaivisa.com/forum/topic/752639-where-to-buy-a-render-farm/

[howto]

^bump

sedeflonga, that is a very nice setup.

I've been reading 'bout this for a few days...

cryptomining is not for the faint of heart, it's very geek.

Nevertheless, I am very interested,

so is my children and wife...

(only because I'm be the one doing it).

How are you connecting those GPU's to the mobo???

Thanks for posting.

Edited August 28, 2014 by howto