Bitcoin Forum

I know I created a topic of this already, but this time I just want to keep it to MINING only!

So I was thinking, I could use the reserve money (quite a lot) and create a mining rig.
Now is this website correct: in saying that a HD 7950 can run at 725 KH/s? If so according to: http://www.wheretomine.com/ if I put in a hashrate of 3625 KH/s for Scrypt it gives me a earning of 355$ a month which is 20000 INR.
Calculations
However when I mine worldcoin on 100 KH/s, for about 1400 minutes (23.33 hours) it only gave me about 25 WDC which is about 0.00275373 BTC at current exchange rate which is about $0.4 at the average rate of $156 / BTC, meaning I do get more than what it says on wheretomine.com So, that would mean that if I was mining that long at 3250 KH/s I would have gotten $0.4 * 32.5 = $13 a day x 30 for 1 month = 390$ x 61.13 for INR = 23140!
I am not taking electricity into account, because in my locality it is dirt cheap  :)

Now that would mean I would need to invest 1100$ As I need to just upgrade my motherboard and GPU's? Or is there a more efficient of mining to get 20000 INR at least a month, as I need to start earning ASAP.

Sell yourself into the sex trade.

Mining is not a profitable venture.

I dont mean PROFITABLE, but it just needs to give me some money every month, which is possible. P.S Your comment has really really offended me. Just because I have less money atm, you dont just say things like that.

You lie. lol

My Scrypt farm has made ROI a few times over since I started mining with it in March/April.

It all depends on how much your power costs.

My power costs $0.03/kwh delivery $0.04/kwh which is $0.07/kwh :)

So, do you think the setup of 5 HD 7950 could make about $467 a month?

on average 5x 7950s should do about 3250kh/s
That would earn about 3.17LTC per day, other coins are more profitable, FTC has been the most profitable for me for the past few weeks.
3.17LTC is about $5.79 per day or a total of $173 per month.

5x 7950s will pull about 1500w including the mobo/cpu.
1500w over a month would be 1080kwh  at my power cost it would be about $75.60 a month.
$173 - $75.60 = $97.40 profit per month


NOT INCLUDING KEEPING THE WHOLE THING COOL!!!

See my Old Trunk Litecoin Mining Rig for an example of overkill. lol

https://bitcointalk.org/index.php?topic=280614.0

I am just upgrading, and I got enough fans (6 just lying around) so im only taking the cost of the GPU + motherboard which is $1100.
Are these calculations correct, or am I going wrong somewhere?
Changed it to 3250 KH/s, still above 20k per month :D and if I just use it for ROI, in theory I should get it back in 3 months

I am taking the figure from my $0.4 a day for World Coin though at 100 KH/s. Seems unbelievable but i dont know how my calculations are wrong though. Exchange rate: https://www.cryptsy.com/markets/view/14
Time of mining was taken from my client because it says it started 23.33 hours ago at the time I wrote this
My wallet shows 24.9 WDC

Call the internet police.

Okay, that was 7 months ago... Completely irrelevant to the situation today. March was a great time to own a mining rig, especially if you were mining LTC.

Especially with FPGAs starting to pop up for scrypt... Building a mining rig is not where you wanna be right now ::)

Yeah but then there are so many scrypt coins, some of them are still very profitable in some aspect such as the worldcoin which gave me 0.4$ at 100 KH/s so if I had a much more powerful rig that would be very good.

The problem is you cannot rely on the other coins to be profitable over LTC for long. I use LTC as a baseline because its more stable than most.

I have gotten lucky on a few and been one of the first miners on a new coin and then get to sell it at a very nice profit. ($1000-2000+ is possible for a few days mining) But this is a very rare occurrence now adays. lol

Wait for FPGA or ASIC, then it would be even more profitable..

FPGA is likely to come, but I dont think ASIC will be there for scrypt yet...

If you have some liquidity and some decent bank access, you could start trading bitcoins locally. I think that would be more profitable than mining. But mining might work out fo you if you are lucky. Trading bitcoins for local fiat currency is probably a more long-term thing, though.

I know some people have made more from Trading than mining over here.
But there are risks too.
So do your own due diligence before jumping into any projects.

Yeah, so u mean like buy bitcoins cheap and sell them expensive right? There isnt much demand though over here, and mining is something which will keep going, all i have to do is a daily check if its mining enough or i should switch coin, or if its getting to hot.

How much do you pay for electricity in India?  What's the average temperature in the room where you'll be operating your rigs?  You will not be able to run your cards at 100% if you can't keep the room cool and the air flowing.

Yes. That is what I mean. If there is not a lot of demand, you could work to create the demand. Sell it as an investment oppurtunity to protect against inflation.

For alt-coins that use scrypt jane, AMD R9 Hawaii would be a good choice due to the 4GB ram.

1st question: $0.05 KW/h but it is ok because if it ends up too high, i have a house which is connected to Golden Temple (I am very lucky to have such a ancestrial house right next to it) and that had (im not joking) free electricity, but i prefer having it in my current house, which is also powered by Solar Panel :)
2nd question:
Here you go: http://www.yr.no/stasjon/wmo/42099/graf/temperatur.eng.png
Also please do tell me how to keep it cool, because I dont want it to go bad, or not work at 100%. Currently year round, the rig is at 66 if idle, and 74 when mining (celcius).

Thanks for the advice :)

Electricity at 5 cents ker kwh is quite cheap and you can probably be profitable at that rate.

In regards to temperatures, from November to February, you look to be fine.  A few rigs will even keep your home warm during the colder months...just have a couple fans moving air away from the rigs.  In the summer, when temperatures in your house get above 25 degrees C, you're probably going to want to clock down your GPU's or run an air conditioner. 

Keep in mind that some cards run cooler than others, even cards of the same make and model.  I ordered 30 5870's last year.  At 100% the cards ranged from 54 degrees to 120+ degrees with ambient temperature of around 20.  I returned 15 of the cards that ran above 80 degrees and only kept the cool ones.  Then again, I ordered these cards directly from a factory here in China and quality control is not a concept that the Chinese quite understand yet.  Hardware is cheap, but close enough usually cuts it here.

Also, back when I first started mining, it took a lot of tweaking over several weeks to get the systems stable and be confident that they will mine 24/7.  I'd often wake up to find several rigs crashed over night, sometimes from silly oversights but other times for no apparent reason.  Eventually you iron these small issues out, but still today a system might halt after a few days and I still don't know why.  Some people have scheduled in automatic restarts every x hours for this reason.

For the mining, multiminer auto-restarts :D.
What pool are u using atm for FTC? Anyone recommend a good pool?

what he needs is obama in his country.
but since there is no obama i take it he wanst the rigs to get him the money..
get a  job   buddy..  and support your grandparents

I don't think it is profitable anymore

if its such a privileged to be next to that temple than there must be tourism  exploit that aspect

sorry kid. i love your enthusiasm in easy money.. but having told this to many  .. education is your way out.. do not learn to depend on the easy way and  get rich quick schemes..
in india with the capital required to start your rig you can  start a consulting bussiness and making rigs for other people..:)  or fix pc something but educate yourselffffffff

by the way if you think and  comparing your guy to obama you are in for bankrupsy..:)   

Removed off topic posts. :)

GPU mining is not profitable anymore, I am waiting for ASICs capable of doing scrypt.

MultiMiner (http://thread.multiminerapp.com) can help you on the software side.

• It can be configured to automatically mine coins based on profitability, difficulty, or price
• It supports GPUs, FPGAs and ASICs
• It can act as a Stratum Proxy, allowing you to monitor and control (and automatically mine using) Erupter Blades, Raspberry Pis and more
• It allows you to monitor and control your mining from your smartphone (using MobileMiner (http://mobileminerapp.com))
• It runs on Windows, OS X and Linux
• It supports any Scrypt or SHA-256 coin and any pool
• It can use either bfgminer or cgminer as a backend and automatically updates both (and itself)
• And it's Open Source (https://github.com/nwoolls/MultiMiner/blob/master/LICENSE)

Would this: http://www.newegg.com/Product/Product.aspx?Item=N82E16814150671 run at a faster hashrate?
Its a XFX Double D FX-795A-TDKC Radeon HD 7950 Black Edition 3GB 384-bit GDDR5 PCI Express 3.0 CrossFireX Support Video Card
Its different to the other ones it says its 'double d' and compared to the normal one:          
                                   Normal                                             'Double D'
Core Clock:                   900 MHz                                      Core Clock 925 MHz
Effective Memory Clock: 1250 MHz (5 Gbps)                       5000 MHz
OpenGL                        Yes (4.2)                                     No
DirectX                          Yes                                             Yes        

EDIT: or should I just take one of these:
http://www.ebay.com/itm/R-MSI-R7950-3GD5-OC-BE-AMD-ATI-RADEON-HD-PCIE-3GB-GDDR5-VIDEO-CARD-/350910079930?pt=PCC_Video_TV_Cards&hash=item51b3dee3ba
($199 and also 5000 MHz, but refurbished)
or
http://www.ebay.com/itm/MSI-Radeon-HD-7950-GDDR5-3GB-384-bit-850-MHz-DVI-HDMI-mini-DP-R7950-TF-3GD5-BE-/271307384345?pt=PCC_Video_TV_Cards&hash=item3f2b2e2619
 (Does not include crossfire cable, $200, and is also 5000 MHz)

XFX cards run really hot and in my experience are some of the slower cards on the market. The warranty is the best, they never argue when I have a problem and it is lifetime. I had a fan go out on a card, they sent me a whole heatsink with fans, they said I can use the 2nd fan if one of my other gpu fans goes out. lol

Sapphire/Gigabyte are going to be your fastest cards, I do not have experience with MSI but I have heard they are right up there with Sapphire/Gigabyte in performance.

You would be very lucky if you found one for sale new with unlocked voltage. If you don't mind not having a warranty you can get a good 30-40% off of the retail price buying used at auction on ebay and depending on how old the card is you have a better chance at getting one with unlocked voltage.

If you go with MSI get the 2nd one since it has dual fans.

Your calculations are absolutely wrong. And there is not such thing as "dirt cheap" electricity when the income is so low.

Okay well it is very little as we use solar water heating and he have 10 solar panels generating 230 watts each so dont worry

I think i will go with MSI, if I dont find a good deal for a voltage unlocked one. Thanks a lot on that, I was tempted for the 1st one since it had cross fire cables and was cheaper and was refurbished haha, but you are right, it would be better to have dual fans to keep it cool.
If I get a good deal then I will take that  :)