My first mining rig (update)

Last week I had went into my storage unit to get out my 2009 tower. It had been so long that I forgot the login password. Today I figured out how to bypass the login in with the help of google search ;)

Anyways the goal was to test out nicehash. I failed miserably. Right from the get go I downloaded the wrong nicehash file. I had the choice of Nvidia or AMD and fully aware my rig was a AMD processor and video card I downloaded AMD. Took me 15 minutes to realize that was not the version I should have downloaded. The files did not include the nicehash miner execution file and it was an legacy version. I went on with download and installing Nvidia version.

After install nicehash could not recognize my cpu or gpu and that is when I gave up and downloaded minergate. I tried going through the install instructions but frustrated that I was not mining so took it in strides by basically running minergate.

Well here are the results:

Went on coinwarz calculator to estimate earnings:

I went with XMR for two reasons. One it was rising in price so on whattomine it was the most profitable cryptonight coin. Two I only know how to use minergate! lol. Although minergate did not recognize my gpu, I will have to take a look into why.

Anyways to recap for upcoming weekend I will study more on nicehash and see if I can get it to run with AMD. Also look into why minergate is not recognizing my gpu. Get either one of those working it will definitely improve my payout.

The reason I a posting this is to illustrate the hurdle US miners are facing versus other countries. The reality is developed countries pay more for electricity therefore mining is not as profitable as a third world country. I am disappointed in the numbers but will let the rig run a couple of weeks and review the electricity bill before I jump to conclusions. Yet I am excited for the world as we are witnessing at first hand cryptocurrency holding true to being decentralized. The wealth of developed countries will have to move to less developed countries because they will be the ones hording many cryptocurrencies.

(Update- I had stopped the rig. I am realizing minergate is giving me a bit less than what was calculated on coinwarz. That must mean there is a hefty pool fee. It is pretty much pointless for me to run it continuously right now. I have to figure out how to run the gpu to run it continuously.)