Hello all
I am interested in getting into crypto mining and had some questions I was hoping to get some feedback on.
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Does it still make sense to buy Ethereum miners? With ETH 2 around the corner I am concerned about investing heavily into ethereum miners because from what I have read, when ETH 2 is finally ready they will merge the chains and ETH PoW will no longer exist. Also EIP-1599 and layer2 solutions are another concern of mine.
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If not ETH, what algos do you think make the most sense to mine and why?
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What are some lessons you learned along your mining journey that you wish you had known when you started?
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What are the most accurate mining ROI calculators these days? I used to mine years ago, but not sure what I should be using at this point.
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If you are using immersion cooling, are you finding the initial cost and maintenance to be worth the investment?
Thanks in advance for any input!
Mining today, with everything OUT OF STOCK is now pretty much what you can do with what you already have. Let me take a stab at your questions. The more people that reply the better your source of information.
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ASIC’s No, not really, They are sold as the profit diminishes. The time to get one was yesterday, other than that today. Your ROI depends on getting it mining while earnings are high. The longer it takes to get one, the longer your ROI will be. Eventually, it won’t pay for electricity and you can’t sell it.
GPU’s No to Maybe. You can’t get a good one, and the price of peripheral equipment has quadrupled. On good thing about GPU’s is that they can mine many coins with many algorithms. Once ETH goes ETH-2 you can switch to another coin and still make an income.
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It’s all about the money (income) I don’t prefer one algorithm over another, I just want the money.
If you had 6 3060TI’s this is what you could earn today before electricity.
EThash - ETH Best earner today. ---------------------------------------------------- $45.66
MTP - FIRO formerly Zcoin, nice earner ------------------------------------------------ $33.69
KawPow - Ravencoin RVN making good returns, just not as high as ETH -------- $23.92
Cuckatoo32 - Grin -------------------------------------------------------------------------------- $20.26
Mimble Wimble, BeamHashIII - Beam another good earner ------------------------- $17.12
EThash - Expanse -------------------------------------------------------------------------------- $16.01
Cryptonight GPU - Conceal -------------------------------------------------------------------- $15.24
ETChash - Ethereum Classic ------------------------------------------------------------------ $12.21
Cryptonight GPU - RYO ------------------------------------------------------------------------- $10.34
The nice thing about RVN, ETC, and RYO are that you can mine them using 4GB GPU’s
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I learned to buy parts on sale, lower the power level to achieve the maximum Hash per watt. I also
had issues controlling AMD GPU’s and found it much easier to deal with nVidia GPU’s. I learned to
try using different mining software, different pools, and wallets. I prefer multiple coin wallets like
Zelcore wallet and Atomic wallet to Wallets that must be online an up to date with the blockchain
like the beam wallet. I learned that transfer fees can be enormous to exchange and send coins.
Finally I found that many wallets with swap features won’t swap all coins or have a minimum
amount you must have before they will allow you to swap.
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There are no accurate ROI calculators, the GAS fees and coin price fluctuate constantly, but I do
know that an ASIC is brick for all practical purposes once it’s algorithm no longer earns income.
Today you can get a good estimate of ROI in the charts featured here:
2CryptoCalc - Mining Profit Calculator for Pools and Solo
or here:
- Immersion cooling is like Custom Watercooling, better left to the experts. You may consider watercooled FPGA miners like the BTU9P
or the CVP-13 which is out of stock.
I would try those before any major immersion cooling. Look here:
Immersion Cooling for FPGA Boards | FPGA Guide
OK, that’s all I have, hopefully someone else has some comments for you or …
