Noob question: Ballpark revenue? $0.70 per day on a 1060?

C

Ceph92

Limp Gawd
Joined
Sep 17, 2019
Messages
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I basically wanted a space heater that pays me back during the winter, so I spent all afternoon learning about mining. I set up NiceHashOS on a machine with a geforce 1060. It should be about 20mh/s.

Nicehash's dashboard tells me [at best]:
Current mining profitability
0.00002304 BTC / 24h
≈ €0.72

So it varies a bit, from about $.42 to $.83 per day in what I understand to be revenue.

Is this accurate? Does the amount sound reasonable? Do I need to seek out a different miner or cryptocurrency?
 
jmilcher said:
After electricity would be making any money?
Click to expand...
I'm guessing no. But it's free heat... maybe.

I actually haven't figured out where to set the $/KwHr on nicehash dashboard.

And I can't find my kill-o-watt!
 
Ceph92 said:
I'm guessing no. But it's free heat... maybe.

I actually haven't figured out where to set the $/KwHr on nicehash dashboard.

And I can't find my kill-o-watt!
Click to expand...
You should find out what you pay for power and then use

Whattomine.com

To input your card and power prices and if will give you the best coin to mine AND the profit per day.
 
auntjemima said:
You should find out what you pay for power and then use

Whattomine.com

To input your card and power prices and if will give you the best coin to mine AND the profit per day.
Click to expand...

Weren't there mining apps that would automatically check indexes and mine the most profitable coins?

I'm paying $0.0833 per KWh. Or $0.137 with mysterious other charges

I could't figure out that website. I'm too dumb for this. Also, why does it not list BTC?
 
Ceph92 said:
Weren't there mining apps that would automatically check indexes and mine the most profitable coins?

I'm paying $0.0833 per KWh. Or $0.137 with mysterious other charges

I could't figure out that website. I'm too dumb for this. Also, why does it not list BTC?
Click to expand...
BTC isn't profitable on video cards. I'm sure if you scrolled ALLLLLLLLL the way to the bottom you might see BTC, but likely not.

Also, Nicehash does change the coin it mines. Not always the most profitable.

You are renting your hardware to Nicehash. People buy hashing power through Nicehash and then nicehash tells your components what to mine. It isn't always the most profitable, but whatever is purchased. Then they pay you in BTC, vs whatever you were mining, at the current going rate.
 
Nicehash profitability it just like it sounds, profit. It takes electric into consideration assuming your inputs are correct.
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You not even getting any heat. Even when I had my 3080ti and 5950x going it didn't do jack for my rooms temperature. Don't expect anything from a single 1060.
 
Ceph92 said:
I'm guessing no. But it's free heat... maybe.

I actually haven't figured out where to set the $/KwHr on nicehash dashboard.

And I can't find my kill-o-watt!
Click to expand...

Do you have central heating or are you using electrical heating? I believe mining for heat will only be advantageous vs electrical heaters, since it'll cost about the same to run but at least you'll get some crypto back in exchange so basically anything would work. Compared to a standard heating setup in a U.S. home though I think you'll end up paying more for the same amount of heating so you'd need to consider the difference and if it's worth it or not. If you can stand the noise then old ASICs would be the cheapest way to heat up a large area. Once the market tanks you can buy up older ones for nothing. I'm thinking about doing this to an old house my parents don't live in during the winter but still need to keep the heat on to prevent condensation and stuff. There's also https://heatbit.com/ but you might be better off doing it yourself.
 
Andrew_Carr said:
Do you have central heating or are you using electrical heating? I believe mining for heat will only be advantageous vs electrical heaters, since it'll cost about the same to run but at least you'll get some crypto back in exchange so basically anything would work. Compared to a standard heating setup in a U.S. home though I think you'll end up paying more for the same amount of heating so you'd need to consider the difference and if it's worth it or not. If you can stand the noise then old ASICs would be the cheapest way to heat up a large area. Once the market tanks you can buy up older ones for nothing. I'm thinking about doing this to an old house my parents don't live in during the winter but still need to keep the heat on to prevent condensation and stuff. There's also https://heatbit.com/ but you might be better off doing it yourself.
Click to expand...
No, it's old gas/water heating. It's hard to regulate in individual rooms, so I rely on a space heater(s) to keep the temp constant. The result is high electric bill - in addition to gas.

I could increase the wattage by adding CPU mining and some overclocking. It's 200w + 140w + ?w on paper, before overclocking.

I could also unblock the fireplace and burn garbage in it.
 
In that case I would definitely replace the space heaters with mining equipment. Not sure on the gas heater, would have to compare your electrical costs vs gas for heating. CPUs in my experience are about as efficient as GPUs per watt, so 200W of Ryzen CPUs will earn similar to 200W of GPUs depending on prices of individual coins so I'd say go for it. They just cost more upfront and have a longer ROI time.
 
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