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Am new in this mining job but i will try to ask some constructive questions :-). Am planning to mine Monero / ZEC and maybe ETH. To do so, am planning to install some graphic card that i can afford and at first this would be something in Radeon RX560 Gigabyte 4gb range. I will use one graphic card setup.

1.) Can i use this card for mining xmr / zec, and how much hashes would i get with this or similar GPU ?

2.) What low power consumption graphic card would you suggest to get 5000 or more hashes ?

3.)Am looking at this calculator https://www.cryptocompare.com/mining/calculator/xmr?HashingPower=5000&HashingUnit=H%2Fs&PowerConsumption=200&CostPerkWh=0.12

I am not quite sure how all this works but if i understand currency, one can mine some amount of currency (daily,monthly,yearly) and if in this time, XMR or ZEC get some peak value ( fast jump ), this is recorded as extra income.

Shortly, if the XMR value is let's say $400 and in few days this value jumps to $600, miner gets nice income, but at the same time, complexity gets higher and miner needs 20% higher hash power(stronger GPU), to keep his earnings level. Is this correct ? Or better, is this the situation with XMR / ZEC currency ?

4.) what wallet and what sw would you suggest ?. Am running desktop pc with linux ubuntu...

Best regards and thank you all for future answers !

Coroto
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Emil
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Hello and welcome to mining. Since this is monero-based Q & A i will try to guide you abut monero mining.

1) Indeed, You can use that Rx 560 for mining xmr and zec. I can tell you that you will get around 300-400H in xmr, and not sure about zec, would be like something between 80-130 sols.

2) There is not a card capable of doing 5000H in xmr. Instead, you can get about 15 Rx 560s to achieve that hasharate. That is, building minining rigs (2 rigs of 8 GPUs each for example).

You can get your Rx 560 into mining, but dont expect high rewards. Instead, use that card to learn how to mine properly. Once you manage to max out the perfomance of that card, you can add more later. Take it as a hobbie at the beginning, if you end up liking it so much, get serious and build a rig. You got the basics somehow covered, that is, mining rewards depend of variables like difficulty, luck, latency to the pool you are mining, and so on.

4) You can check out the Monero reddit, at the right sidebar you will find some wallet options. As for mining software, there is xmr-stak, claymore cryptonote (most popular).

Feel free to navigate the stackexchange to get more info about Monero.

P.S. If you want to mine zec, you should consider getting Nvidia cards, the big Rx brothers (x70-x80) or even a R9 390 which is a very nice card (but really expensive and power hungry). I hope this helps a bit. Kind regards...

Coroto
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  • Hi ! Sorry for late reply. ----- 1.) My idea = 1000H/s rig. Let's say that todays rate for monero is 300USD. Can this rate go down or will it constantly rise(does not meter how much) ? ----- 2.) College is mining one other currency, and gain quite impressive income in very short time. Is it possible that this rate jumps for 200% in some short time (eg. in one day), and why is this happening ? ----3.) how much can one gain/loose by joining a pool ? --4.) how did you calculate hash rate difference between xmr and zec (300-400 --- 80-130 ) ? Thank you for your time ! – Emil Dec 18 '17 at 17:55
  • Price is not related to mining. You got to have faith in a project when mining. If not, you will find yourself pointing your rig to a different coin every day and that's no bueno. A pool its the easiest choice when mining, you dont lose anything except for the pool fee. You can test by yourself mining different algos, an then putting yoiur values in whattomine.com, it will give you an estimated of winnings, learn to use that site. Read the stackexchange for more info and Monero mining subreddit kind regards... – Coroto Dec 18 '17 at 18:11