Title: Just purchased my first miner!!!! It'll be here in 2 days Post by: NISMOkwim on June 24, 2011, 06:50:31 PM Just purchased my first dedicated miner from NewEgg, and it'll be here with 2 Day Air shipping. In case anyone is curious, here is a breakdown of the types of parts, the costs, the urls and what I paid in shipping :)
All shipping was to Oregon, so that will vary depending on where you live, but shouldn't be too much more unless you live in Hawaii, Alaska, Puerto Rico, or somewhere outside the US. I'll post pictures of the setup and details of the configurations once I have it all ready :) Should be up by next week :)))) Feel free to ask questions/comments :P As always, Happy Mining Title: Re: Just purchased my first miner!!!! It'll be here in 2 days Post by: mixmastermine on June 24, 2011, 07:07:51 PM Is that a good deal?
Title: Re: Just purchased my first miner!!!! It'll be here in 2 days Post by: NISMOkwim on June 24, 2011, 07:10:50 PM Indeed :)
Title: Re: Just purchased my first miner!!!! It'll be here in 2 days Post by: bitebitebite on June 24, 2011, 07:16:45 PM Feel free to ask questions/comments :P Have you worked out the very ~ lifetime ROI on this? I ask this question as I am currently under the impression you will only get back a fraction of its costs (and would like to be convinced otherwise as I have cancelled a dedicated machine I had on order) Title: Re: Just purchased my first miner!!!! It'll be here in 2 days Post by: oOoOo on June 24, 2011, 07:17:28 PM I don't understand why people are still buying rigs. At ~17USD/12EUR and with difficulty already above 1.3m it's almost at a loss!
Good luck though... . Title: Re: Just purchased my first miner!!!! It'll be here in 2 days Post by: NISMOkwim on June 24, 2011, 08:06:28 PM Feel free to ask questions/comments :P Have you worked out the very ~ lifetime ROI on this? I ask this question as I am currently under the impression you will only get back a fraction of its costs (and would like to be convinced otherwise as I have cancelled a dedicated machine I had on order) My previous calculations weren't correct. I hadn't realized the extent that the difficulty increase would cut into profits. I am canceling my order now :( But to answer your question, at 2 Ghash/s at $17
And with the $91.59/month in electricity costs, I'd be left with about $472.04. So finally after 3 months I'd still be -$1965.57. This would be only marginally worse if I resold all of the hardware for 40% of their original value, $948.33. Then I'd be -$1017.24 I decided to look at it with a mining pool and this is what I found. Current Round Total Pool Ghash/s 1906.47 My Ghash/s 2 Pool Shares 201,669 My Share of Shares 211.6 Estimated Growth 45% USD Rate $17
Given this minuscule $36.79 increase, I'd still be -$980.45 Having seen these numbers, at this point in the mining game you'd be better off starting a mining pool to compete with the big ones. This particular pool, if charging a 2% use fee, would generate +$14,936.57 in 3 months!!!! Now that's where the real money is at. To make these calculations I used this calculator: http://striketeam.ath.cx/btccalc/btccalc.php And I used the numbers from this mining pool: http://mining.bitcoin.cz/stats/ Check em' out!!!! They're both pretty cool :) Title: Re: Just purchased my first miner!!!! It'll be here in 2 days Post by: bitebitebite on June 24, 2011, 08:24:10 PM My previous calculations weren't correct. I hadn't realized the extent that the difficulty increase would cut into profits. I am canceling my order now :( At least you got to cancel before it arrived, was very dissapointed when I cancelled mine ~ a week ago after a very rough ROI calculation. I wish there had been a way for this project to be worthwhile for the small guy up until its conclusion (coin mining wise). Title: Re: Just purchased my first miner!!!! It'll be here in 2 days Post by: gls90a on June 24, 2011, 08:44:01 PM If I have learned one thing about bitcoin so far it has been that you can never be too sure on what the future difficulty adjustments will be. I bought a mining rig about 3 months ago, and it ended up paying for itself rather quickly. I still would have made more if I had just invested the $1,500 in btc itself. But at least I got a free computer out of the deal!
In general though it does make sense that I would have made more money investing in the hard currency on a risk/reward thought.... mining rig=low risk, set amount you can lose or make. Bitcoin=High risk, could lose everything or make millions. Title: Re: Just purchased my first miner!!!! It'll be here in 2 days Post by: deepceleron on June 24, 2011, 09:18:27 PM I would just order the gaming computer that you always wanted, just one of those 5970s or two crossfired 5870s on a Sandy Bridge Intel 2500k mobo with 2x2gb ddr3 and an SSD boot drive. A decent quality 750w PS like Antec Earthwatts 750 would be fine. Bitcoin mining might make now the time to upgrade to a nicer computer than you would have bought otherwise, since it will still earn you funny money.
Title: Re: Just purchased my first miner!!!! It'll be here in 2 days Post by: melmo on June 24, 2011, 09:54:49 PM So does this mean that 3x 5970s just freed up on Newegg? Drool...
Title: Re: Just purchased my first miner!!!! It'll be here in 2 days Post by: jasonstx on June 24, 2011, 10:03:10 PM I picked up an alienware area 51 alx at the dell outlet for $1800 and it came with a 5970. That is a system I will use for the next few years instead of a disposable mining rig. I added a 6870 as my primary display and leave the 5970 mining 24/7 with no ill effects on playing games and watching videos.
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