Yesterday I finally got my 24x 1070 rig set up and mining after receiving the hardware on Friday (some building issues made it take a while).
Currently mining @ roughly 10,500sol/s, do you think there’s a chance I’ll make some decent money here or have I missed the boat because difficulty will be shooting up soon? I sure hope I can at least pay me rig back and make maybe the same again if not more! (Happy to hold on to the coins for a while).
A wizard is never late, nor is he early. He arrives precisely when he means to.
Congrats on your first ZEC, what made you decide to start at 24x? That’s a considerable investment/gamble, do you have experience mining other alt coins?
If you got those 1070s before the recent shortage and price hikes, and if current ZEC value holds you might recoup your costs in 4 to 5 months. If value drops as it did when I started mining, it will take longer. Make sure to check sites such as whattomine.com to see what coins are most profitable for you, it won’t always be ZCash.
I’ve been lurking a lot and mining on two cards for a while, at the same time doing lots of reading up.
Checking whattomine.com and the current £/$ exchange rate I’m currently looking at a 90 day payback, and surmising that difficulty rises in line with value, I’ll remain on target for that.I guess what I’m afraid of is the difficulty rising quicker than the value, extending my pay back time.
It’s a big risk I understand. I figured it was a case of either get on board big time or miss the boat, I’m just hoping that I’ve made it on before the door closes behind me!
People were saying its too late to get into Ethereum a year ago and prior.
Yet anyone who held most of their mined coins made tens, if not hundreds of thousands of $ by now.
Someone will always be saying it is too late, but considering that 1070 is a great card you can always resell them, so at least you will always mine enough recover the cost so this is kind of almost no risk investment.
Thanks buddy. That’s what I’m kinda thinking too. If it all goes tits up in 3 months I can probably sell the gear and get 80% of my money back at least. All part of the fun I guess!
Here’s hoping the difficulty moves in relation to price and not too far above!
If the price drops miners will stop mining and your shares will increase. In a few years those shares could be worth a lot more than right now even if it momentarily crashes. You have to ask yourself are you long or short and why. With a 24 card setup, I’m assuming you’re long. Welcome to the club!
Ugh…unless it’s right now and EVERYTHING is ridiculous. I’m just jumping in also but my intention from the start was with the 1080 ti, allowing better versatility to other alt coins if I need it. At least they haven’t jump up from the 699.99 baseline really before I got my two rigs going. I’m definitely in for the long haul on this one. Installing a couple 240v power outlets at my location this weekend for the rigs.
Well, each rig is basically 1000w (approx) so 4000w = approx 16A. Put them on one 32A ring and you’re ok, spread them over 2 rings and you’re even better
I have my rigs at work which have Solar Panels so it means free electric during sunlight
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