Welcome to CS With James
Bitcoin price was crazy in 2017 and 2018 I believe the CryptoCurrency boom will keep going
I want to share some of the knowledge how to mine with your existing computer without any effects on your daily computer user experience.
Before get into my experience I want to explain some of the terminology you have to know.
Wallet : Wallet is a place to store your coin safely. It can be on the server or in your computer. I personally use Jaxx, because it is compatible with Mac and iOS. Even it is missing some of the transaction history but it shows all the coins that I have.
Pool : Everyone have to mine with a pool. It is a community people get together and mine the CryptoCurrency. After the pool get the coin they will separate your portion of coin into your wallet.
Mining Software : You can’t just start mining. You need to download a mining software to mine. If you use AMD GPU then go with OpenCL miner, if you use Nvidia’s GTX GPU then look for CUDA miner.
Hashrate, Sol : It is a number represent how fast your machine is doing the work. Usually the more expansive GPU have higher number. For example, my GTX 1080 Ti is doing 600~800 Sol/s depends on the setting. It is hard to test your performance within few seconds, usually people suggest to mine for at least 6 hours and check the average for 6 hours. In many pools you can very easily check with your wallet address.
So before start mining you have to setup your wallet, so you can get the coin into your wallet automatically and most of the mining pool require your wallet address to start mining. I personally like Jaxx (Actually have not use any other wallets). It is compatible with many OS environment and it support different variety of coins. However, sometimes it does not shows the transaction history but it doesn’t mean that they are not showing the coins. Always how many coins I have and how much it is in USD is always accurate.
Second one is mining pool. I use nanopool. There are bigger pools but I had no issues with getting the mined coins into my wallet and get my mining confirmed. It is fast and accurate. I don’t prefer MinerGate. I used to try with MinerGate and I have experience with getting lots of bad mining and confirmation is very slow. Lots of other people have the same problem.
With the nanopool you can mine Ethereum, Ethereum Classic, SiaCoin, ZCash, Monero, Pascal, Electroneum. I personally believe there are lots of potential to ZCash so I am mining ZCash.
Once you have decided what coin to mine, you have to download the mining software. For the Zcash Claymore is very common for AMD GPU and EWBF mining software is widely used for Nvidia GPU. However, I am using Mac so I had to find specific software that support CUDA on Mac. That is very rare because Apple doesn’t use CUDA anymore, they only use AMD’s GPU with OpenCL. However, This guy made the MacOS Version of CUDA miner for ZCash and I am currently running it and I am happy with it.
I Personally suggest to install Windows if you want to seriously start mining. It is easier to tweak the GPU Clock speed and Memory speed with simple programs but in Linux and MacOS it is hard (impossible) to tweak the GPU performance.
If you are planning to use GTX Card to mine then you might have to install the CUDA Toolkit from the Nvidia’s website. It is free to install and you have to check for specific version of CUDA Toolkit that is required from the software that you are using.
Here is some of the stats from my mining experience
This is my account page from nanopool. You can get into this page by https://zec.nanopool.org/account/<Your wallet address>
If you have more than one mining machine, then you can check how is each machine performing and you can check the stats for each machine.
The best way to determine your GPU’s performance is from 6 hours average rate. The Sol/s of my 1 1080Ti mining system is 595.3Sol/s which is not perfect consider it is 1080 Ti but I believe it is using less electricity. I will check once I got Kill-a-Watt.
If you get into machine’s stat then you can see the profit rate calculate from average performance. this is not super accurate because you have to consider the electricity bill for minus and coin’s price might change in the future. That is the reason why you have to mine the coin that you think there is potential for price increase.
After few months I am planning to add more 1080 Ti up to three on my machine because of this
My Mac Pro is capable of handling 3 1080 Ti. After that if I want to add more GPUs then I have to buy a separate rig for it and fill my Mac Pro with AMD’s card because it is more practical in MacOS.
Is it profitable?
Yes, from the stats I will earn about $150 per month then 1080Ti will pay for it self after about 5 months consider the electricity bill and sometimes I have to use GPU for Machine Learning training.