Ignore Ethereum – I’m a Bitcoin miner now

Bitcoin weblog

Subsequent our stint as Ethereum miners, and the diminishing returns for our get the job done, we have moved our mining electricity to NiceHash in the pursuit of Bitcoin prosperity.

We acquired our mining rig in June, with its 6 Aorus Radeon RX 580 4GB playing cards kicking critical butt when we started off.

Regrettably, the honeymoon did not previous extended – and we dropped from making 3.3 Ethereum for each thirty day period to 0.7 Ethereum for each thirty day period. This was just around $200 at the time.

The table underneath details our earnings from mining Ethereum between June and September 2017.

Ethereum Payouts
Volume Date Length
1 ETH 2017-06-07 N/A
1 ETH 2017-06-16 214.9 hours
1 ETH 2017-06-29 307.3 hours
1 ETH 2017-07-15 389.6 hours
1 ETH 2017-08-11 645. hours
1 ETH 2017-09-14 806.7 hours

On to NiceHash

As we are a resilient bunch, we were not going to dismantle our rig for spares and give up on cryptocurrency just however.

Enter NiceHash, a crypto-mining marketplace that “connects sellers of hashing electricity with potential buyers of hashing power”.

What that suggests is we essentially get paid to hook up our rig to the NiceHash system and mine cryptocurrency for folks.

Payments to us are designed in Bitcoin, but we do not mine Bitcoin – as GPU-based mining rigs are not powerful on the Bitcoin blockchain.

Our mining rig, functioning the NiceHash software program, cycles as a result of algorithms that examine which altcoins are worthwhile to mine and puts our device to get the job done.

Our rig then mines the selected altcoins, and we are paid in Bitcoin for the quantity of mining we do.

Now, our rig is mining as a result of:

  • CryptoNight – Monero, Digital Observe
  • DaggerHashimoto – Ethereum, Ethereum Typical
  • Equihash – Zcash
  • Lbry – Lbry
  • X11Gost – SIBCoin

Producing money

Many thanks to the recent increase in the cost of Bitcoin and the effectiveness of our rig as a result of Nicehash, we are at the moment making – and finding paid out – between R750 to R800 for each week in Bitcoin.

The NiceHash software program can be downloaded via its web page – with the software accessible for Nvidia and AMD mining rigs.

As our rig is total of AMD playing cards, we were directed to the NiceHash Miner Legacy page on GitHub.

When accessing the “releases” tab and scrolling down to the newest stable edition, people have to obtain the NHML .zip file to their rig and open up the file.

You are then needed to open up the NiceHash Miner .exe and set up the software.

During our set up, Windows 10 on our rig frequently flagged the NiceHash Miner as malware and deleted the file in the unzipped folder.

To overcomes this, we designed an exception in Windows Defender for NiceHash. Remember to exploration the difficulty before developing an exception in Defender, and we do not propose performing this until your are an skilled Personal computer person.

When the miner is installed, you enter the Bitcoin wallet tackle you want your earnings deposited into, enable the software operate benchmarks on all the algorithms accessible, and you are great to go.

Consumers are also ready to monitor their rig’s general performance on-line via the NiceHash “Find miner” page using their Bitcoin wallet tackle.

Right up until we locate a more worthwhile use for the rig, here’s to pleased NiceHash mining.

This is an feeling piece. Constantly conduct exploration before putting in software program and participating in crypto-mining.

Now study: Getting Bitcoin for dummies

Ethereum News

Leave a Reply

Your email address will not be published.