Bitcoin Forum

I really want to start mining, seeing a lot of cryptocoins coming to town. any people here have some tips? I plan on making a small network just for mining.

check http://www.coinminingrigs.com/  ;D

This guide is much better. http://www.cryptobadger.com/build-your-own-litecoin-mining-rig/

The guide you gave don't have enough detail in configuration and other detail.

Order your self black arrow 2th late February delivery miner.
There is no other mining hardware worth of buying right now.
And there is no need to create any large or smal "network" (???) for mining.

Thanks for the quick replies guys. I just hope when I get all components and get eveything set up I can still make a profit, instead of paying too much to the electricity company. Of course I could use it to mine other cryptocoins

Just do good research on what hashing speed you will get and how much power it will cost you. An easy tool to see which coins are most profitable and at what cost, take a look at http://www.coinwarz.com/cryptocurrency

computer with 2 or more amd radeon 7950s for scrypt mining:) if u buy asics then y have a larger risk of not getting ur investment back and not being able to sell ur miner for a good price. where as u could sell ur gpus for nearly the same price as u bought them :)

None don't do it. Just buy and hold.

I agree with the others, scrypt mining with amd gpu's is a good bet, but getting some pre-order equipment from black arrow seems like a good bet as you can always sell the hardware on ebay for more than what you paid for most likely.

for alt coins this is probably going to be your entry key. Easy to expand and has a resale value should you want to sell up quickly.

If you are looking at bitcoin or other SHA256 stuff, ASICs are the way forward, with all their ongoing problems with useful life and supply dates.

Stick just to scrypt coins, dont even look at btc and asics unless u want to spend some real big money. Under £600 can make an ok rig which on the right pools can return in less than a couple of months at the current markets.

I'm liking some of the new MBs with 6 PCI slots, best to run Linux to avoid the whole 4-5 GPU only bugs stuff. U can always start with 1 card and work up.

As the profit rolls in, invest those profits in new hardware - motherboards, GPUs, RAM, processors and drives, to get greater return or just to combat the rising difficulty.

Switching to new (and lower difficulty) coins can mitigate the difficulty rise.

Oh the voice of reason, that's the most profitable advice, but where is the fun and learning while playing with hardware?

If everybody held their coins then BTC would no longer be used as a currency and would become worthless except for nostalgia hoarders.

Build a dogecoin rig or something of that nonsense.  BTC ASICs will usually not repay their BTC investment although they might break even on fiat basis.

Agreed, people need to trade and use any of the BTC\Altcoins for them to have value. Just hoarding coins will never increase the price because what reason do people have to buy them otherwise.

madjules007 do you know if coinwarz is telling you the profitability based on mining on your own or joining a pool?

It's based on Solo mining I believe.

are you crazy????
when you solo mine only thing you can mine is whole block! so calculation would be "time to mine block..."!!

so it's obviously pool mining calculation showed on http://www.coinwarz.com/cryptocurrency!!!! 

Unless you have alot of hashpower behind you dont solo mine, join a pool it will give u a better chance of completing a block.

that's a complete different thing!

mining calculators, thegenesisblock, coinwarz etc. are giving you pool mining profitability calculation!

Thanks for the information Guys,
In this price Mining is really Profitable.
I want to start a new mining rig with investment of 3K so anyone could recomend me specially Please
Thankyou

With $3000, you can create a rig with 3 R9 280x GPUs. Check out this guide: http://www.cryptobadger.com/build-your-own-litecoin-mining-rig/

This rig should get you around 2.1 MHashes/s

Thanks for fast and best reply
I will try to assemble accordingly
as your best information howmany time could it take for ROI Ie. Todays price of Bitcoin is 700$

You should not use this rig to mine BTC directly. That would take a long time (decades, I think), with the rising difficulty.

You should be mining scrypt based coins like LTC or others.

Take a look at any of the following links. Enter 2100 kHashes/sec in the scrypt textboxes, and they will give you an upper estimate of your earnings.

http://coinwarz.com

http://dustcoin.com

http://wheretomine.com/

http://coinchoose.com/

The value of these alt coins can be very volatile, so you may want to get familiar with these tables, and switching between coins when it increases your profitability. If you don't want to handle that manually, you can look into an auto-switching pool like http://middlecoin.com

Try to make every £/$ you spend on none gpu items go as far as possible, so rather than putting two gpus on each rig, try getting a motherboard that supports 4+ gpus that way u spend alot less on mbo, cpu, ram, case and so on.

There are a couple of nice 6 pci slot mbos out there, but u will need raisers and more fans but thats cheap.