Anyone else have obs/comp over mining?

[VirtualLarry]

I've realized that I am. I keep NiceHash visible on my 4K UHD screen, so I can constantly gaze at the fluctuating income/day, and watch the ... pennies... roll in.

I'm think it's giving me anxiety... or maybe it's just that I spent my free money for the month at the beginning of the month on a $500 graphics card, and I have been dependent on mining money to get me through the month.

It's slightly stressful. It would be easier, if I didn't have to hear the constant drone of fans, deal with the sweltering temps, and could just enjoy me nearly-free money every month.

 

[Red Squirrel]

I'm not at that point yet, but have been taking more interest as of late. I brushed Bitcoin off originally, and I feel like an idiot for not getting into it, so now that there's still chance to get in crypto I felt I had to. But got stopped by the GPU shortage. So just have 1 card mining now, but I'm constantly looking at prices and such and been working on a dedicated rig so I can be ready when the next batch of GPUs come out, hopefully in spring/summer.

I've learned to ignore all the doomsday talk though. Everybody keeps saying it's going to crash soon. People said the same about Bitcoin originally. The minute there's a little dip people panic. So I'm just going to keep mining till the end. I'm mining ethereum now, but once it goes PoS I may move to another coin.

I'm not doing too much trading yet. Though crypto is excellent for day trading given how volatile it is.

 

[IronWing]

I'm think it's giving me anxiety... or maybe it's just that I spent my free money for the month at the beginning of the month on a $500 graphics card, and I have been dependent on mining money to get me through the month.

IMHO, this plan is not optimal.

 

[Red Storm]

I would stop calling it "free money" because it most definitely is not free.

 

[XavierMace]

I'm think it's giving me anxiety... or maybe it's just that I spent my free money for the month at the beginning of the month on a $500 graphics card, and I have been dependent on mining money to get me through the month.

IMHO, this plan is not optimal.

That's probably the politest way of phrasing my thoughts.

 

[[DHT]Osiris]

If you're above the equator and dealing with 'sweltering temps' in late Jan, you're gonna have a bad time with mining in 4mo or so. Last year I halted 24/7 operations on one of my living-area miners around I think April, other one (bigger earner) a month or so later? or something, and just relied on the basement miner for ~3-4mo unless the temp dropped on a given night (windows were open often).

 

[preslove]

OP, how long have you been doing crypto? What is your net income after taking total cost of power (electricity for the rig and for the extra cooling)?

 

[VirtualLarry]

OP, how long have you been doing crypto? What is your net income after taking total cost of power (electricity for the rig and for the extra cooling)?

Only dabbling in it since approx. Sept. of 2017, when someone mentioned "NiceHash", and "easy to use" in one sentence. I tried it, I seemed to be able to make some money at it, so I continued with a few video cards on a few rigs, watching "profits" decrease (was getting payouts every week, then every two weeks, then every month - it was taking longer and longer to make it to similar payout amounts), then NiceHash got hacked, lots 'o their Bitcoins stolen. So I figured that service was done for, and I stopped.

But thanks to a member here, you know who you are, he convinced me to give them another chance, said that "they were back". After that, I bought, knowing that mining was getting "Hot", a GTX 1070 ti at the beginning of Jan, and another RX 570 Gaming X (a thing of beauty, let me tell you) part-way through the month. So I've spent $830 on graphics cards for Jan. 2018. With those cards, and a bunch of older ones, I'm getting nearly $20/day in revenue, which costs a certain percentage per daily payout, then it takes two payouts to reach the min. amount I need to cash out to my exchange acct., which then takes $1.99 for BTC sell amounts under $50, and $2.99 for BTC sell amounts above $50, up to who knows. So I end up, at my bank acct., around $14-18 / day. On track for around $500 for Jan. 2017.

None of that is accounting for electric costs, since it's Winter, my electric is included in my rent, and what I use just offsets what would get used for heating anyways (electric heating). When it gets warmer, though, I may re-consider, or only run the most profitable cards.

 

[momeNt]

Yes it definitely is giving you anxiety. Judging by how often you are posting and discussing it. Nicehash is meant to be a "set it and forget it" type program, try taking that approach and relaxing a little bit. You're already in with both feet, no sense in monitoring it as it is already out of your hands for the most part so just ride it out with as little anxiety as possible.