Nice Rig, I mine also but my rig isn’t as nice as yours, so i won’t even show it off. I use it to support the ETC network. I love seeing people mining to support decentralization. keep it up.
The profits will be slightly different but you need to take into account your losses during transfering between coins.
These include the following for most
Lets say you are mining BTCP but want BTC so you can cash out as you state you are running a business and need to pay the bills.
Transfer fee of BTCP to Exchange
Trade fee of BTCP to BTC
Capital gains tax for the trade
Transfer fee of BTC to an exchange to cash out to FIAT
NiceHash is normally only a few cents behind mining the coin outright in profitability. Lastly NiceHash doesn’t determine where your hash power goes. The buyers of your hashpower determine what pools to mine at. Nicehash is just a nice connection point between buyer and sellers. Think of them as Craigslist lol also check out this post I did where I broke down some of these numbers.
yea that’s another reason I’m mining etc now too. low fees and I do use etc to pay for somethings. and the pool I’m in give back the mining fee after a 2 weeks. so compared to the btcp i was doing this is better for me. and with the bills i do have for the operation it makes what i trad or sell be for no gains or a loss. and I hold the rest. if I triad for btc then I’ve just got to record it for gains or losses. but for now I hodl that shit lol. I have a rental spot for my rigs so they are not all at home now. and im getting more equipment now to grow to a bigger level. and not that I say nicehash is not bad and I know I’m new to all of this still. I like to support the net works I think are good and do it my self lol. I’ve looked into nicehash but for me it just wasn’t interesting and there not the only ones doing that service. Now I’ve only been in 2 pools. so what do I know lol. but I do like the info you give ty
Who else do you know that is doing the same thing as NiceHash?
Miningpoolhub is completely different so if you are talking about algo switching that is a completely different thing than NiceHash from a core function and they also possibly bring in more taxable events.
mining rig rentals is like nicehash. and it to works on smos.
And im not a algo hopper lol. I just like to be controlling what i mine and like to support what I think are good projects. eth and etc I do like. and makes less heat that I have to deal with when out side is 90f. but I hodl what I mine right now except expense. but I like that etc lol. thats just me lol
I agree with you supporting the networks you like. Completely understand that and think it is great. I was just trying to understand what other programs are matching NiceHash’s model and just used the algo swapper as an example.
that makes sence. for sure.
got my second asic miner today set up and hashing away. the asic plus my 2 gpu rigs im at 1.2 Gh/s. woohoo lol!!!
Which ASIC miners are you running?
I got the bitmain e3 miner.
I’ve got 2 more e3 miners from bitmain coming in. And another gtx 1070 ti. I’ll be over 1.5 gh now woohoo.
this is the beginning of my YouTube channel! I know the audio is low. it will be fixed on the next one. First time using this stuff.
my second try at this lol. definitely need a new gpu in my main comp but I love to mine so it is what is
mining up date. im now up to 5 E3 antminers. I’m putting together a 3rd gpu rig.
My cooling is now done with no ac running at all. I’ve put a fan into 2 different windows blowing out with the 3rd window open as an air intake. I exchange all the air in the room 197 times an hour. no gpu has gone over 67c yet . Even when it was 95f. the room got to 99f and all the gpus and asics were unaffected.
If you exchange all the air out of the room 38 times an hour your good with a small set up. then after that you have to factor all the heat generated. you need 400 cfm of exhaust for every 12,000 btu. so on a 1200 sqft room 1000 cfm of exhaust gets you 47 times an hour that all the air gets exchanged out. then with 50 gpus that will give you around 18000 btu so you need minimum 800 cfm plus the 1000 cfm to cool all the cards down effectively. so I’ve got about 6100 cfm so im exchanging all the air in the room about 197 times an hour. so even a 110F day should keep the cards cool because thats still lower temp than the gpus run.
If any one would like the math on how to figure out how many cfms in fans you need just put a comment in down below.
Hey hey hey Crypto Family!!! I’ve got my mining stuff going on check it out. if you have questions put them at the bottom of any video
I’m excited for the new AMD RX 680 line up!!! ARE you???
Nice man, makes me want to start getting back into mining.
TY TY. I figure what ever I can learn, I will pass it on. Even if its my own mistakes, because that’s the biggest teacher. It shows I don’t know it all but I love what I do. Its right up there with my love of my restoration shop I’m getting off the ground. But TY TY for words of encouragement!!!
love printing that Money!!!
LOL everything is mining Monero LOL