– Do you like money? Better yet, do you like free money? Well, the value of Ethereum and other cryptocurrencies
has rocketed so high that even if you're running an older
PC, it could be worthwhile for you to start mining
while your system is idle. So NiceHash sponsored
this video where we'll be showing you guys how you can mine on your existing hardware as
an easy way to make a couple of bucks with almost no downside, especially while the weather's cold and you'd be paying to heat your house, anyway.
(opening music) You're probably already
familiar with cryptocurrencies decentralized digital
currencies with no direct tie to government issued notes or coins, particularly if you already
watched our mining series from a few years ago. But how many of you are actually
doing something about it? Particularly those of
you with a graphics card that has six gigs of memory or more. It may come as a surprise, but if your power rates are cheap
enough, thank you BC Hydro, it's gotten really really easy to tune your system to profitably mine crypto when it would
otherwise not be doing anything, and conveniently it's still winter and a gaming rig is
actually no less efficient for heating your house than
an electric heater would be.
But then there is the question of why bother, didn't Bitcoin
just have a major correction and we have no way of knowing what's going to happen to Ethereum
now that Eth2 is live, sure, but there's also
almost a two year window for you to mine Ethereum normally until it's supposed to fully transition to a proof of stake system
rather than proof of work.
And yeah, Bitcoin is currently down but also sometimes it goes up. So if the whole set up can be done in less than an hour,
which it can, it's probably not a bad idea, like
subscribing, not a bad idea. Don't miss our upcoming GPU reviews. Now, NiceHash Miner has been
available for years now, but it's also been a few years
since we've talked about it and they've made some pretty cool changes. In a nutshell NiceHash built
a system where you essentially sell your computing power
to the highest bidder, who then uses it to mind a specific coin. They get the coins that are generated and you get paid in Bitcoin
based on current market rates. This is really helpful for folks who are looking
to acquire Bitcoin, since Bitcoin now requires
ASX to be mined effectively. And of course, if you want
something else, other than Doge, you can trade for it on the exchange. Now, NiceHash isn't the only option, and large-scale commercial
mining operations wouldn't use it, but frankly we don't have much interest
in helping those guys.
And NiceHash has been our tool of choice for small time,
personal mining, for ages now. One of the reasons, is that
pretty much every piece of mining software
requires you to either turn off your antivirus for
all third party algorithms or allow absolutely everything through. Both of which are obvious security risks. By contrast, NiceHash's new
QuickMinor is digitally signed and doesn't require any
third-party software for overclocking, undervolting or mining. And since it only uses their
in-house developed excavator miner and OCTuner, you don't
have to grant permissions to any suspicious software. For those of you who are
concerned about security risks this should be a huge load off your mind. Of course, it does come with a drawback. With NiceHash's traditional miner, you can swap algorithms on the
fly to make a bit more money by targeting the algorithm
with the highest payout.
QuickMinor only Mines Ethereum
using DaggerHashimoto. With that being said, Ethereum
is currently dominating the market, so it shouldn't
be a huge deal for the moment. One of the other big
concerns that gamers have about mining is of course
wear and tear on their, especially right now,
expensive graphics card. Now, as we demonstrated a few years back there is no performance difference between a worn out GPU
and one that's brand new. At least as long as
everything else is equal. The challenge here, is
that modern graphics cards dynamically adjust parameters
that do affect performance, like core clock, according
to thermal and power limits. And here's the thing, Silicon does degrade over time and the more heat and the more voltage,
the faster it degrades. So we want to minimize
both of those things. That's for QuickMiners built-in automatic GPU tuning functionality comes in. So all we got to do is go to
nice hash.com/maya/mining/rigs. And there's a yellow
optimized button here.
This is pretty sweet. So you can either light
or medium optimized let's just go light mode. And then you can probably
actually hear the fan profile change over there but that's not the only
thing that's happening. At the same time, it's going to undervolt and over clock the video memory to maximize the efficiency of the card. – Actually they're reducing the core clock and then reducing the power
target to match demand. It's not quite undervolting, but I mean I guess it's close enough. They'll be getting to
that a little bit later. – Now it only works with 20
and 30 series Nividia GPU's, at least for now, but as long as you have at least six gigs of Vram,
you can also use their guides to manually tune your 10 series card.
It should be noted that for now AMD cards require an alternative
overclocking utility. If you want even more
efficiency, or if you're like, I'm heating my basement
with this thing who cares? You can right click the
system tray, go to OSI tune and go all the way down to the bottom. This Autotune right here
should be able to get you either slightly better efficiency or maximum balls to the wall speed. If you want to play around manually you can do that as well. And NiceHash has a full set of guides that you can
check out on their website. Based on the method we
just showed you guys we're sitting pretty at around $5 per day of Bitcoin that is depending, of course on current prices. Which isn't at the point where I would recommend spending
scalper prices on a new GPU hoping to make back your investment.
But as my Grand Pappy always said, you can never have enough free money to spend at lttstore.com. He's right you know, great
water bottles over there. By the way, before you leave, we do want to offer one
final bit of advice, not about tuning your rig or buying graphics
cards, but about wallets. If you're going to hold any
amount of cryptocurrency we would strongly encourage
you to get some sort of hard wallet or your own
digital wallet that you control. because whole crypto
exchanges have basically vanished overnight and
you never know who's going to get DDoSed or hacked or
have their founder die next. So it's always best to
keep your own coins safe with yourself.
Now in the interest of full disclosure, NiceHash was actually hacked
a couple of years ago. However, unlike most other
services and exchanges they actually used their
own money to eventually pay back everyone who had
a new crypto go missing in full during the attack, which
is actually the only reason that we were comfortable working
with them on this project. Because remember guys it's not your mistakes that define you. It's how you handle the fallout after. Just like I would never make the mistake of not telling you about
our sponsor, NiceHash. If you guys haven't figured it out yet it makes it easy to turn your
PC into a mining machine. No registration is needed and
they even act as an exchange. So you can trade your coins
into other cryptocurrencies. You get paid in Bitcoin every four hours, and they're quick. Miner was made completely in house to make it safer
and easier to use than ever.
So to learn more and register today check out the link down below. How many of you are already
mining with NiceHash or another service by the
way, leave a comment below. And if you haven't already,
make sure you check out our mining adventure
series from a few years back it's obviously a little older now but there's still a ton
of really good information in there about cryptocurrency and mining..
