Crypto Mining in 2018


#21

I understand but when we use terms like small we need to define them because as you can see here I am a small miner in the grand scheme of things but several orders of magnitude larger than someone using a gaming PC as their only miner.

Taking longer than a week for a payout is not a bad thing either. If you are in the US a payout once a week in my opinion is preferred as there is less paper work to do for taxes.


#22

Just an update, I just bought the first parts for my rig.

GIGABYTE GA-Z270P-D3 LGA1151 Intel Z270 2-Way Crossfire ATX DDR4 Motherboard-Amazon

Ballistix Sport LT 8GB Single DDR4 2400 MT/s (PC4-19200) SR x8 DIMM 288-Pin Memory - BLS8G4D240FSEK (Red)

2 EVGA SuperNOVA 1200 P2 80+ PLATINUM, 1200W ECO Mode Fully Modular NVIDIA SLI and Crossfire Ready 10 Year Warranty Power Supply 220-P2-1200-X1 (I am starting with two 1080ti units)\

Intel BX80662G4400 Pentium Processor G4400 3.3 GHz FCLGA1151

AmazonBasics 4-Shelf Shelving Unit - Black

I will be contacting my electrician as well to upgrade a few outlets in my house to 30A. It is important to go ahead and get your electrical situation figured out first and go from there in my honest opinion. I wont probably need the extra wattage now but down the line I will have to expand.


#23

congrats. welcome to the party!


#24

Yeah I agree with your logic. you cant call yourself small In my opinion unless the mining industry is fully developed… How can you scale yourself when the industry hasn’t set a standard to scale against.


#25

Does Coinbase have a system where you can just download a spreadsheet of the money you pulled out in fiat for tax purposes?


#26

they have a csv file you can port to those cryptotax websites. i forget the names. HODL HODL HODL


#27

No problem my man, check out my initial build. I will update this thread every so often with my progress and eventually a Vlog series on YouTube once the rig is built.


#28

I see. I think people should dedicate a certain amount of resources to mining a coin that they truly believe in on a emotional level and the rest to mining the most profitable coin. Your opinion?


#29

I actually will most likely start a rig like that for my daughter or for fun. I thought about it and that is a good strategy but you have to dedicate yourself to getting a bargain on all those cards is 1, you have to buy a lot more risers for your rigs is 2, people will start picking up on this when and if 1080s start becoming 1500-2000 standard and this will drive the parts up on these lower cost cards. Its good to start out like that though if you don’t have the money so it is not a bad idea by any means.


#30

I know a lot of guys who are trying to avoid taxes entirely with crypto… the miners will find it easy to simply pay tax on what you withdraw and it will help the system become more integrated with society. The common misconception is that Crypto is replacing everything fiat. I don’t think it will for a little while if it is on that path and rite now we have to use fiat. Go with the flow


#31

youre absolutely right. alot of bullish crypto speculators are deluded into thinking that fiat is going to burn in a few years. in my opinion is could take 15-30 years for something like that to happen. my kids will probably see the real blockchain revolution. the internet wasnt born overnight. it took decades for development.


#32

This is overwhelmingly useful information thank you.


#33

I’m curious, how much does an average user expect to be able to mine per month? Ballpark guesses would be fine but let’s say 3 levels:

  1. regular Joe with a gaming pc, 1 high end graphics card
  2. “oddball” Joe with a mining rig setup, multiple medium range graphics cards in one box
  3. “crazy” Joe who has his whole garage filled up with mining rigs and cooling fans

Let’s say he mines whatever is most profitable and trades for BTC/ETH/LTC->USD, how much could each of the Joes reasonably expect to make?


#34

Lots of variables in there. You can check out the video I just did and get an idea for different GPU profitability.


#35

you typed again Nvidia card names instead of the AMD on the small team red box :smile:


#36

DAMN! I did a copy paste. Oh well!


#37

Informative video, thanks for sharing!

What do you think of this MoBo ?

would avoid all the risers and cable clutter caused by them.


#38

It is a great concept. There is room for improvement though.

Off the bat, this is what I see:

  1. Price is outrageous. $325! It’s up to you on whether or not your want to pay to have less cable mess or not.
  2. Space between GPUs. I’m a little concerned about the space between GPUs. The intake fans need to have decent space between them for good airflow.
  3. CPU Fan Space. The space between the CPU fan and the first GPU is very tight. I’m concerned the fan would be resting on the first GPU.

You will have to take a different approach to building an open air frame for this but that’s not that big of a deal. Still will have questions about the BIOS but that will have to wait until it is released.

In the end, I do like it and I would be excited to try it out.


#39

Def. some good pros and the cons you mentioned are seen in this guys video

Then again I don’t see a problem if they make the board longer and just the Pci-e more spaced in between, it will be a shelf rig anyway.


#40