What alts are you mining? Do you mine them out of your house/apartment, or did you find a cheaper area outside the city to rent an office so you pay less in electricity? And is it still profitable to do so?
Mostly curious cause I was going to start setting up some mining rigs, mostly for the instructive nature of it, but don't want to pursue it if I'm just burning money doing so.
What I have been noticing is that when you mine a coin with a high difficulty such as bitcoin unless you join a pool it will not be profitable. My strategy would be to choose a coin with low difficulty that you think will gain value over time. Right now I am mining out of my house havent got the first electricity bill yet so im not too sure. I have a bunch a very efficient 6gb msi gtx 1060s pumping out 1200 hashrate with each card using around 80w. I have been switching between alt coins as well. I mine Digibyte, Dash, Monero. I would first build one rig with 4-6 cards and get the process started and see the rewards hit your wallet before you make any other decisions since it is a pricey project. Take a look at nice hash miner as well. It automatically mines the coins with the lowest difficulty and converts them into bitcoin for you. https://www.nicehash.com/?p=nhmintro Hope that helped a lil.
I used to be in pools with algorithms detecting which altcoin was more profitable at any time to mine. In the end... I used to have a lot of small quantities of shitcoins I could do nothing with.
It was nice, but lacked of the future perspective you are adding. Mining what you think is going to rise is a very good option.
welcome Rkd025 to Steemit ! . I hope you enjoy your time here, its a great community :) Nice post, i will follow your account, please follow me at @mekong
I am excited to read your future posts. Good luck and welcome! Please consider checking out minnowsupportproject.com and @minnowsupport. It is a great community of individuals that will help you get started and can answer all of your questions.
Do read my below recipes to have a successful steemit experience.
RECIPES FOR SUCCESS
Be yourself, originality matters a lot. Write and submit quality content at least three times weekly.
You can get into arguments but without being disrespectful to people to avoid down votes
Upvote and follow posts that interest you...as well as people who upvote and follow you. Reciprocity matters. However, be careful not to exceed 20 upvotes per day as doing that will begin to deplete ur steem power. This is important.
Spend sometime to comment on other people's posts daily.
Observe this rules and success will follow you. Wishing you best of luck in your steemit activities.
I'm @eurogee. I long for success and always on the lookout for the like minds.
A new Steemian :-) hello @tkd025 I hope you enjoy your time here, its a great community ! Nice post, Wish you much luck! I will follow your account. Don't hesitate to contact or follow me at any time :-) See you around @tradewonk
So just write from your heart and everything will be all right. Thanks for the UPVOTE if you look at it as of value and please make a FOLLOW so we can keep the dialog going on.
Welcome to steem nation
Welcome to steemit :D
Thank You
Finally ya n00b
Copy pasting this from the other blog:
What alts are you mining? Do you mine them out of your house/apartment, or did you find a cheaper area outside the city to rent an office so you pay less in electricity? And is it still profitable to do so?
Mostly curious cause I was going to start setting up some mining rigs, mostly for the instructive nature of it, but don't want to pursue it if I'm just burning money doing so.
What I have been noticing is that when you mine a coin with a high difficulty such as bitcoin unless you join a pool it will not be profitable. My strategy would be to choose a coin with low difficulty that you think will gain value over time. Right now I am mining out of my house havent got the first electricity bill yet so im not too sure. I have a bunch a very efficient 6gb msi gtx 1060s pumping out 1200 hashrate with each card using around 80w. I have been switching between alt coins as well. I mine Digibyte, Dash, Monero. I would first build one rig with 4-6 cards and get the process started and see the rewards hit your wallet before you make any other decisions since it is a pricey project. Take a look at nice hash miner as well. It automatically mines the coins with the lowest difficulty and converts them into bitcoin for you. https://www.nicehash.com/?p=nhmintro Hope that helped a lil.
I used to be in pools with algorithms detecting which altcoin was more profitable at any time to mine. In the end... I used to have a lot of small quantities of shitcoins I could do nothing with.
It was nice, but lacked of the future perspective you are adding. Mining what you think is going to rise is a very good option.
Were the alt coins converted into bitcoin for you as a service provided by the pool?
No, I had to do it myself.
A very warm welcome on behalf of the steemit community - you have discovered something rather special @rkd025 - enjoy the journey..
Welcome @Rkd025 its good to see more new users around. Have fun in this community. I wish you many followers and new friends :-) Cheers @chrisx
Thank You appreciate it!
welcome Rkd025 to Steemit ! . I hope you enjoy your time here, its a great community :) Nice post, i will follow your account, please follow me at @mekong
Thank you followed you as well!
I am excited to read your future posts. Good luck and welcome! Please consider checking out minnowsupportproject.com and @minnowsupport. It is a great community of individuals that will help you get started and can answer all of your questions.
Welcome mi friend nice to me yo i am @djnoel ;) nice post
thanks and look forward to listening to some music from you. :)
Good to hear that you joined steem, welcome aboard 🙌
Thank you good sir!
Welcome to steemit community...
What a wonderfully written intro you got here.
Do read my below recipes to have a successful steemit experience.
RECIPES FOR SUCCESS
Be yourself, originality matters a lot. Write and submit quality content at least three times weekly.
You can get into arguments but without being disrespectful to people to avoid down votes
Upvote and follow posts that interest you...as well as people who upvote and follow you. Reciprocity matters. However, be careful not to exceed 20 upvotes per day as doing that will begin to deplete ur steem power. This is important.
Spend sometime to comment on other people's posts daily.
Observe this rules and success will follow you. Wishing you best of luck in your steemit activities.
I'm @eurogee. I long for success and always on the lookout for the like minds.
Be my partner in this pursuit of SUCCESS
Welcome rkd025 to Steemit.
Most welcome on steemit... Hope you will enjoy the journey of steemit.
Thank you I appreciate it.
Welcome to Steem @rkd025 I have upvoted and sent you a tip
Thank You!
Seattle looks awesome! New travel destination! :)
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STOPA new Steemian :-) hello @tkd025 I hope you enjoy your time here, its a great community ! Nice post, Wish you much luck! I will follow your account. Don't hesitate to contact or follow me at any time :-) See you around @tradewonk
Congrats !!!! on the joining of STEEMIT; it is demanding AND rewarding. Here a sample of one of my posts.
https://steemit.com/bitcoin/@indepthstory/simple-technical-analysis-on-btc-follow-up-to-previous-post
So just write from your heart and everything will be all right. Thanks for the UPVOTE if you look at it as of value and please make a FOLLOW so we can keep the dialog going on.
Good luck.
@indepthstory
Welcome to Steemit rkd025.
Thanks
Welcome to the Steemit Community @rkd025 , follow @lank
thanks