Bitcoin Forum

Hi All

I am thinking of buying some equipment for mining almost every altcoin at the very beginning when it comes out, then wait for the hype and sell them for BTC.


How viable / doable is my idea? Can I do this with GPU mining (like 5 GPUs)? If yes, which GPU should I buy?

I am willing to invest something like $3000 into the equipment.

Thanks in advance for the help and input.

seems that is still viable, last two coins, on which this was very viable were orly and darklisk, but it's not always the case, some other just face a brutal death, so it's a gamble

you need to mine them early when the diff is very low and they are ignored, and anyway only for few days at best, just to not risk too much

with 2500 euro you can build a six gpu right now, if your electricity is cheapo i would do it, at least you can keep mining when there are not those coins...

I think its gambling. Most of the coins die a silent death but it is to try. success and goodluck

At least with GPU's you can still sale them if it does not work out for you. Or make a OP game system ;)

Yes, this is a very important point. With cloud mining or investing in ASICs, you are on a one way ride and sink or swim with the algo or coin you are mining. With GPUs you can mine any coin and switch algos as needed. Plus your GPU will retain value as it is also useful for its original purpose, as a video or gaming card. So with an ASIC or cloud mining, you  need to achieve 100% ROI, with a GPU you could get away with 50% ROI and resell it for half what you paid for it if things don't work out well.

thanks for all your input.

Is there anyone who tired this and would like to share some info?

Well I've got 730mh of KNC Titans (roi'd) and make now on LTC after 14c elec at 3000 watts the amount below at 3.72 per LTC


30 days   220.81359375 LTC   821.40 USD   Total        302.40 USD   Electric Costs     519.00 USD  Profit


using the below free calc for LTC which allows to change all values...kinda nice..no fee pool pays 104% ....

www.litecoinpool.org/calc (http://www.litecoinpool.org/calc)

So I recently split a 2 Titan system buy it now on Ebay for 3,500 usd and 150 shipping...(its supposedly in the mail it may be a box of rocks)

So for that investment (nice Unicorn hunt imho ...the price SEEMS right) of with shipping $1,825 usd


But then I made the mistake of looking in to the figures on this toy ..and my elec prices (argh summer heat) and how things kinda have to break my way for it to ROI....


I get the below with the above calculator for this new titan unit at 300mh (add this to the above for my total hash rate of say about 1000 mh if/when it comes and if it works?)

So 300mh at 1200 watts (gen tarkin firmware cuts it down a bit) at 14c kwh and 3.72 usd per LTC I get the below on that unit

(considerably underpriced from what I can tell from Ebay ones going for 3k plus)


30 days   90.74531250 LTC   337.56 USD    Total    120.96 USD   Electric Costs 216.60 USD Profit


So if the above is in the ball park....and I take the profits after Electric..it would take me AT THE CURRENT DIFFICULTY  about 8.4256 MONTHS....add some MODEST

difficulty rises and say 10 months....

hmmmmmm.....


IN that the A4 400mh Scrypt Miner is supposed to come out in July...and I would suspect a corresponding data hall by them and bulk sales....

I MIGHT ROI on this before it all goes doorstops

then again....IF the Innsilicon folk dump a lot of chips on the market for bulk sales (hey it is what they do) and A4 equipment and the price does not do much

more then say 4-5 bucks for LTC...er ...I still may ROI but would be kinda like paying LTC running in circle for 10-12 months to get back to what I put in for LTC.

The point I'm making is the ABOVE IS A GREAT PRICE for a 'supposedly' NEW Titan Nov 2013 unused unit......assuming you can get 300mh out of it (gotta love paypal

as a backstop and the cc ....just need something near 300mh and I'll keep it)

But UNLESS there is say a pretty large price hike for LTC as compared to BTC (which has its own issues on difficulty rise etc etc) say something like if BTC hits 650 usd
then at a kinda current LTC ratio of 0.008 ltc to btc it is now ..that is $5.20 LTC...

but ..again the higher the price the more OLD equip gets turned back on and the higher difficulty climbs


anwyay ...my point is I will likely make ROI on this because PRICE of LTC connected to BTC will got up....but even then the likely REAL $$$ I will make is when in Oct 2016

my elec rates go down from 14c to 10c a kwh and I heat my house on the 4000 watts of Titans (hey did it last year on 3000 watts)

So to wrap it up...even at that really good price above ...at my elec rates....even adjusted for next winter..and the rest...other considerations have to come into play

its a hobby/ i get heat in winter out of it by extending out the equipment/ reduced elec rate/ possible price hike in BTC and also LTC

but if you look at the above 'realistically' and I had NO Titans at all now.....running the numbers...with all the above you'd be better off just buying BTC and holding

so hey ...its a toy ....that LIKELY will ROI in some combo of the above manner


AS to Ethereum mining till it goes POS coin....from what I've been told... you can get more or less per GPU the same kinda/sorta return on 1 GPU as 1 Titan Cube
with probably more then a bit more electric use? not sure....

So you could play my game above with GPU cards and ethereum even at the 7.50 ethereum usd prices etc.....if you hold it could moon I guess

if you go from Ethereum to BTC direct ...it probably for the next say 5-6 months be little different then my Titan bet etc and you can use/sell the gpu's later


But the 2 examples above are the only way I see home mining anymore.....if you ROI etc is up to a lot of chance with 'tricks' above....

me ...I'm just postponing the inevitable...by adding to equip I've already ROI'd on as a 'bet' price/winter rates and heat of house will pull me out to ROI on this new stuff

i mean 'really' increase my hash rate by 1/3 for 1,825 usd added to equip I already have...sure ..I'll take that bet in that I've already drunk the kool aid and got equip

setup for such...same for a lot of guys I know who rushed back to the family farm and dug the gpu rigs out of boxes in a shed.....yelling whooo who...

It is all great fun....but at this point in time if you are NOT in to this stuff and can walk away with a smile when it all 'bricks' itself and say 'fun toy'

you are imho better off just getting some BTC or LTC for the anticipated (year after) hopeful 'pump' in price.....same results...a lot less dorking about :)

 
 

yes i mined darklisk for 20 hours, when the diff was low, mined 200k and dumped for 0.15 with only 4 gpu

with just 2 posts i would probably spend some more time on the forum and read up before you drop $3k on equipment.

What is the specs of your 4 GPU you mined 200k in just 20 hours.. looks like its interesting and i would like to mine to with my gpu..
I hope you can give more details about your hardware..

Its good to do if its a coin that is very new and has very low hash rate but will eventually hit an exchange, then when it does hit the exchange you might have little time to sell, the coin might only get 1 or 2 pumps and then die.  So don't waste too much time.

BEWARE though that everyone is looking for a new coin to mine these days and even the most worthless shitcoins get a decent amount of hashrate.  Also not all coins get announced here, the dev might start the coin and begin mining himself, post about it on reddit. list it on yobit then he might post an announcement here after all that (if ever).

Buy the coins seems less risky. And u can sell them anytime you want. Mining have alot of risks that u should take in consideration.

if you guys all just want to mine whatever flavor of the week altcoin is being released while the network is in building phase, might i suggest services like betarigs or nicehash?

renting hash is just a few percent more expensive than electricity cost to run in even the cheapest of regions.

unless you are scamming free electricity somehow, it really is the no brainer choice.

no it's worse it cost you more than your electricity, and some time you don't get the hashpower, because someone else already rented it

better to mine with your own equipment

It's a risk, but the GPU rig will retain SOME inherent value for a while, and there are other things you can do with it in the meanwhile.

I think it will be profitable if you only run mining for few hours or days for onecoin that is not getting stucked mining only one shitcoin on early days. I don't have mining rigs but i rent them online and that is also giving me slow profit comparing monthly and i am sure you will get more profit with your own rig rather than rented one. I get lucky recently with disk.