Cryptocurrency and Mining

Lazybones · February 07, 2021, 08:05:34 PM

24h @ 200W for the month at $0.1394 /kWh = $20.07 Cost

After several hours in the pool the pool is reporting a monthly estimate of 0.06064 ETH ($121.67 CAD today)

$121.67 - $20.07 = $101.60

$1,219.20 / year minus taxes

Assuming prices stay stable and don't go down, etc etc.

Will run it for a month as see how it goes. It looks like I can run the T-REX mining program in the background no problem while not doing any heavy GPU tasks so I should get very high use.. Other than when gaming.

Thorin · February 07, 2021, 08:39:36 PM

I had to do a couple maths to understand what you were saying there... You're going to make about $121.67 for the month based on an Ethereum price around $2,000, right? And the $20.07 is also how much electricity you're going to use in the month. All I'd suggest is to look for other variable fees besides the direct cost of electricity, I wouldn't be surprised to see variable distribution and transmission costs on the bill that make the actual cost per kWh higher. Still, you can make a bit of pocket money doing this.

Lazybones · February 07, 2021, 08:52:30 PM

Quote from: Thorin on February 07, 2021, 08:39:36 PMI wouldn't be surprised to see variable distribution and transmission costs on the bill that make the actual cost per kWh higher.

Different province, different provider charges. The Step charges are the only ones that are variable on /kWh, the other charges are based on the number of days in the period and vary by month length. I pay those other delivery charges no matter what.

This is also why I use the higher step 2 rate in my estimate, even though the last few months we have been able to get our power use under the step 1 limit

Tom · February 08, 2021, 05:08:14 PM

Fun story, at one point several years ago i had somewhere around 80BTC.

Lazybones · February 08, 2021, 06:40:13 PM

Quote from: Tom on February 08, 2021, 05:08:14 PMFun story, at one point several years ago i had somewhere around 80BTC.

I think that is somewhere in this resurrected thread.

Can't change the past or predict the future.

I diluted about half of my crypto into altcoins that went to almost zero.

Plus side is if it didn't cost you to lose, vs those that YOLO at the peaks and sell at a loss putting in money the can't afford to lose.

Lazybones · February 09, 2021, 09:42:09 AM

Math keeps changing every day, by tweaking my memory clock on my card I was able to increase my hash rate to over 59/Mh/s

According to the Pool calculator that could mean up to 0.13643 / mo or 303.23 CAD

Will have to see, the prices for crypto go up and down like a rollercoaster, but $303/mo would be well worth it.

Melbosa · February 09, 2021, 10:22:21 AM

I'm still mining on my end, as my comp is never off that mines (its a workstation I use for a lot of things). It is currently able to do $6/d CDN on its video card. My wallet today is worth $3300 just from mining for the last year.

Lazybones · February 09, 2021, 10:25:10 AM

Quote from: Melbosa on February 09, 2021, 10:22:21 AMMy wallet today is worth $3300 just from mining for the last year.

If you are not getting paid directly into a private wallet, don't forget to transfer out your balance from time to time to avoid losing everything.. Hosted wallets have a habit of disappearing when companies do.

Melbosa · February 09, 2021, 10:26:50 AM

Quote from: Lazybones on February 09, 2021, 10:25:10 AM
Quote from: Melbosa on February 09, 2021, 10:22:21 AMMy wallet today is worth $3300 just from mining for the last year.

If you are not getting paid directly into a private wallet, don't forget to transfer out your balance from time to time to avoid losing everything.. Hosted wallets have a habit of disappearing when companies do.

Yeah. I went through that with NiceHash when they got hacked a while ago. But They seem to have locked that down.