Computers & Electronics

Crypto Mining Thread: Hardware | Software | NVIDIA | AMD | Discussion

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Crypto Mining Thread: Hardware | Software | NVIDIA | AMD | Discussion

Seems like there's no dedicated thread and we've been asked not to use the Nvidia RTX 3XXX thread to discuss mining.
Perhaps we can all shift it here, sharing setups, tips, strategies, software,ask questions, etc.
Feel free to add info to new users, with links to relevant websites.

I am very new to mining and if you search my threat you will quickly see I was never a fan. However, with the recent purchase of 3080, testing of 3070 and as of today another 3070, I am changing my tune as money are coming in.
As a new user I am using Nicehash
www.nicehash.com as it allows me to mine and quickly change to whatever the coin I want or withdraw. You get paid with BTC.
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For now I am not sure I will be using the 3080 for mining as without a proper cooling setup, the memory gets over 100C and having fans running at 80% doesn't seem like a good thing long terms. '
RTX 3070 doesn't seem to have this issue as the memory doesn't run as hot.
In MSI Afterburner the setup that seem to works great for the 3070s I have(or 1 I had) -500 on Core, 51% power, +1200 memory clock. 56C temp at auto fan speed of around 33-34%.
Getting 61mh/s and 121w power draw from the GPU.
A quick calculation shows my electricity cost for a day is under 50cents, and Nicehash shows over $10/24h profitability for RTX3070.

Feel free to post your settings of your setup to help those who have a similar GPU. May help those who are not sure what to do.
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Did you guys buy the 3070 from the stock bots alerts or at scalper prices?

The FE edition seemed to be having consistent availability in January but it's all dried up. Such a good price too. Great $10 a day card.
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Crichtonfan wrote: Did you guys buy the 3070 from the stock bots alerts or at scalper prices?

The FE edition seemed to be having consistent availability in January but it's all dried up. Such a good price too. Great $10 a day card.
In person by going to a store and also by preorder. 3070s were freely available for in-store purchase in January. Seems like a dry spell right now with much less supply of any of 3XX cards.
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How are people cashing out of NiceHash to their bank account with the least amount of fees? Also how often do you usually do this?
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escalade wrote: How are people cashing out of NiceHash to their bank account with the least amount of fees? Also how often do you usually do this?
Unless you really need the money, I would advise not to and letting your BTC ride for a while.

There are definitely tax implications too assuming you let the money hit a Canadian bank account. Best way to cash out “off the books” IMO would be to sell your BTC to someone and blockchain them the money.
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I actually realized I’ve been wasting two perfectly mineable GPUs for a long time. I just put them to work.
It’s stupid because I had my RX480 8gb even before the 2017 GPU shortage. Sad to think I missed out on so much money for no reason. For a 5 year old GPU it’s nearly as profitable as my RTX 2080.

Since I basically spend 24/7 looking at deals I have passed on so many opportunities to buy 3070/3080/3090 just because I thought what I had was good enough and didn’t want to be a scalper. FML.
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Good Morning
I've used Bylls and Shakepay in the past to pay off my video cards, that was easy to use. I'm no longer in the game since my S.O. and myself work from home and the noise is too loud in our small condo.

I don't have a lot but I'm just hodling and watching. Best to not spend too much time tinkering cause it's one hell of a rabbit hole for every 0.5 extra MH/s
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kimwoobingsu wrote: Unless you really need the money, I would advise not to and letting your BTC ride for a while.

There are definitely tax implications too assuming you let the money hit a Canadian bank account. Best way to cash out “off the books” IMO would be to sell your BTC to someone and blockchain them the money.
Valid point,but would love to know how that works. Is it based on honor system? CRA can't even crack on 10,000 of those who have been scamming them with CERB/CRB... with access to bank statements,taxes, family info,etc. And here they are trying to control assets held in other countries by 3rd party exchanges,etc.
1. How would the government know if it's investment gains or withdrawal of your own funds?
2. By law me just exchanging say $10cad worth of BTC to say Ravencoin or others is taxable and so for you purchasing something online( so, you buying a gift card or capital gains for a purchase something in a store online is taxable.
I am not asking how to hide or cheat...don't get me wrong here. I am just trying to figure out how the government is controlling it. Certainly, I highly doubt they will even look at you if you are making $1000 a year, but there are a lot of big business in Canada, with tens of millions in revenue from crypto and I am assuming that's who they are after with these tax laws.

Also, if you bought a GPU for $1000 and trying to withdraw a $300 you mined, technically, you are still at -minus $700 and even if you are ready to pay taxes on that $300, you don't need to.
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Hmm regarding mining noise, is it a problem while using multiple GPU rigs or is a single GPU desktop going to be pretty noisy when mining?
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coriolis wrote: I've used Bylls and Shakepay in the past to pay off my video cards, that was easy to use. I'm no longer in the game since my S.O. and myself work from home and the noise is too loud in our small condo.

I don't have a lot but I'm just hodling and watching. Best to not spend too much time tinkering cause it's one hell of a rabbit hole for every 0.5 extra MH/s
Crichtonfan wrote: Hmm regarding mining noise, is it a problem while using multiple GPU rigs or is a single GPU desktop going to be pretty noisy when mining?

I am currently mining as I am working. It is as quiet as if I wasn't, with a fan bellow 34%. That's the beauty of a 3070 over a 3080 which I decided not to use for that at all. I make less but much less noise and better in a long run. If I didn't need 3080 for the web development and rendering we do, I'd sell it for another 3070... If 3080 was for mining then I suppose it wouldn't matter and as most I would also abuse it. I suppose it will be next to impossible to find any rtx cards soon that were not abused though... If everyone is getting into mining then all no matter what the seller tells you, they all are going to be highly abused. I suppose it's a note to myself in case, hyporthetically everything with crash in say 1 year and 10,000s of rtx cards will flood the buy/sell mediums.
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dazz wrote: I am currently mining as I am working. It is as quiet as if I wasn't, with a fan bellow 34%. That's the beauty of a 3070 over a 3080 which I decided not to use for that at all. I make less but much less noise and better in a long run. If I didn't need 3080 for the web development and rendering we do, I'd sell it for another 3070... If 3080 was for mining then I suppose it wouldn't matter and as most I would also abuse it. I suppose it will be next to impossible to find any rtx cards soon that were not abused though... If everyone is getting into mining then all no matter what the seller tells you, they all are going to be highly abused. I suppose it's a note to myself in case, hyporthetically everything with crash in say 1 year and 10,000s of rtx cards will flood the buy/sell mediums.
Hmm, makes me think if the mining train for a part time miner has already left. 10 months to break even and then see a crash. I guess one can say they had a paid off GPU lol.

Shouldn't have put off building a desktop in 2018. Time to look for the next dip and GPU demand cooling to build one.
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dazz wrote: I am currently mining as I am working. It is as quiet as if I wasn't, with a fan bellow 34%. That's the beauty of a 3070 over a 3080 which I decided not to use for that at all. I make less but much less noise and better in a long run. If I didn't need 3080 for the web development and rendering we do, I'd sell it for another 3070... If 3080 was for mining then I suppose it wouldn't matter and as most I would also abuse it. I suppose it will be next to impossible to find any rtx cards soon that were not abused though... If everyone is getting into mining then all no matter what the seller tells you, they all are going to be highly abused. I suppose it's a note to myself in case, hyporthetically everything with crash in say 1 year and 10,000s of rtx cards will flood the buy/sell mediums.
3070s are quieter than 3080s? Are you sure you just not monitoring your thermals properly?

Can you post some stats, vram temps, hashrate, PL% etc, memclock etc

EDIT: seems like the 3070s have far less heat issues with the GDDR6 memory vs the 3080 and the GDDR6X
Last edited by unowned on Feb 19th, 2021 4:48 pm, edited 1 time in total.
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dazz wrote: Valid point,but would love to know how that works. Is it based on honor system? CRA can't even crack on 10,000 of those who have been scamming them with CERB/CRB... with access to bank statements,taxes, family info,etc. And here they are trying to control assets held in other countries by 3rd party exchanges,etc.
1. How would the government know if it's investment gains or withdrawal of your own funds?
2. By law me just exchanging say $10cad worth of BTC to say Ravencoin or others is taxable and so for you purchasing something online( so, you buying a gift card or capital gains for a purchase something in a store online is taxable.
I am not asking how to hide or cheat...don't get me wrong here. I am just trying to figure out how the government is controlling it. Certainly, I highly doubt they will even look at you if you are making $1000 a year, but there are a lot of big business in Canada, with tens of millions in revenue from crypto and I am assuming that's who they are after with these tax laws.

Also, if you bought a GPU for $1000 and trying to withdraw a $300 you mined, technically, you are still at -minus $700 and even if you are ready to pay taxes on that $300, you don't need to.
I signed up for a bunch of crypto exchanges just recently and the amount of information they wanted was frankly a little worrying.

I actually made a bit of money on Dogecoin (I know right?) and I sold it to bitcoin on the same exchange, they actually still wont let me transfer it out because of some sort of anti money laundering regulations.

Technically any time you sell, you need to pay taxes on the gains, even if you are exchanging one coin for another. AFAIK (and don't quote me on this) our tax law does not really recognize crypto as something that can be made to purchase items, and would view the transaction as selling for cash, and purchasing the item/ coin/ etc.

I don't think they can track any purchases you make on items using BTC (purchases that don't need to be registered anywhere, like a car, house etc.) as long as there was no paper trail of the money coming to or from your bank account, the transaction amounts were relatively low to not raise suspicion that would have others report you (like you don’t all of a sudden own like 50 Patek Philippe watches), or if your exchange doesn't report to the CRA on you.

Like I'm sure they aren't going after people with under a few thousand $ of BTC but I'd bet that if you were sitting on a billion dollars of BTC on an exchange with a clear trail to and from you and the money was just blockchained away one day there would be some questions if not now, but definitley in the future.

The main way I can see the taxes being enforceable is if your exchange or bank gives them data.

Since BTC just cracked $1 trillion USD you can bet crypto gains are something they are gonna be trying pretty hard to nail people on in the future.
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Crichtonfan wrote: Hmm, makes me think if the mining train for a part time miner has already left. 10 months to break even and then see a crash. I guess one can say they had a paid off GPU lol.

Shouldn't have put off building a desktop in 2018. Time to look for the next dip and GPU demand cooling to build one.
It depends on the GPU. I paid less than $900 for 3070( it is being used for work, just like 3080) and based on the projected income, I can pay it off well under 3 months. Faster if you use 3080 and slower with other cards. But even if say you just bought a used GTX 1080 for mining @ $500 on Kijiji, chances are, you can recoop the cost of it in under 3 months too.
unowned wrote: 3070s are quieter than 3080s? Are you sure you just not monitoring your thermals properly?

Can you post some stats, vram temps, hashrate, PL% etc, memclock etc
3070 is MUCH quieter but there's a reason! I didn't write down my 3080 stats, as mentioned I am not using 3080 and doubt it will happen, but they were similar to what everyone else is posting everywhere online. See many youtube videos for examples of the noise and memory temp issues - and that after proper overclock/underclock settings. So people fight the heat with thermal pads and additional cooling just to safeguard the card.
3080 creates A LOT more heat due to the faster memory and more watt draw.
This is why I can run my 3070 at 33% fan and it's still well under 60C and no issues with memory temperature. You can't do that with 3080 as it requires a fan speed of on average 80-100%, which is so so much more noise! And even at 80% the 3080 memory itself is still around +-100C.
As the cards are new, nobody knows the longevity of it, but I can't see it lasting even 3 years at that much 24/7 abuse. Just running the fans at 100% 24/7 will create heat plus constant 100C memory temp.
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I mine with my Asus TUF 3080 using Nicehash, and get about 95MH/s. The memory does run hot, but I manage to keep mine about 85c with some heatsinks and the fans running 100% (GPU is about 35c). It should pay for itself in a few months. If you are wanting to buy crypto Newton seems like a popular option with people here at RFD.
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Havo wrote: Which 3080 are you using? I'm using a 3080 strix, 70% fan speed and my memory is running in mid to low 80's
Many would want to know your secret to have low 80s at 70% fan speed.
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With the memory temp being an issue. Getting a full coverage waterblock would solve all that problem no? Sure it adds a few hundred to the cost of the card, but its like buying insurance? Especially if mining is just a side gig for the card.

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