Should i mine or not? if yes, what should i get.

[orcanice]

Im thinking about starting mining, since i have access to 3 apartments with free electricity.

But i dont have the biggest budget to get started with, so im still thinking about if its worth it.

I hope you guys can give me some opinions.






Thanks

[adaseb]

Yes you should, its free money if you have free electricity.

[Tmdz]

Start out with a gpu or 2 in your current desktop and then work up from there as you mine.  Buy current amd gpus such as those in the R9 series, you can a page here that has a chart comparing different boards.

[Ayers]

you need around $3k or less for a six gpu rig, so if youhave this amount you can begin to mine, or you cna begin with 1 gpu only and buy the other with that, but it will be tedious in this way, try to buy at leats 3 gpu at first

[orcanice]

i dont have a desktop pc ^^. but i have a half unfinished one, only with motherboard and cpu and a GTX 660.


The mb is a Gigabyte GA-970A-DS3P and the cpu is an AMD sempron 145. (if this will work) or do i have to find another mb and cpu?

[Hamaber]

Yes you should, its free money if you have free electricity.

If you already have the GPUs, it is free money.

[mocacinno]

Im thinking about starting mining, since i have access to 3 apartments with free electricity.

But i dont have the biggest budget to get started with, so im still thinking about if its worth it.

I hope you guys can give me some opinions.






Thanks

Like a couple other guys already said: if you have a GPU, you might as well use it to mine some ALTcoins.
I presume it would be best to benchmark your setup for different hashing algo's, and plug the results in here:
http://www.coinwarz.com/cryptocurrency

Then mine the coin that gives you the highest return.

You can also opt to buy an sha256 (bitcoin, peercoin,...) or scrypt (litecoin, dogecoin,...) ASIC or a new/used GPU.
In case of an scrypt ASIC or a new GPU, you should look up the hashrates and plug them into the link i gave earlyer... Be carefull for block halvings, price changes and initial costs for buying/setting up the hardware.

If you buy a sha256 ASIC, be carefull, bitcoin blocks will halve in a couple of months, the price might fluctuate and the diff might rise.
You can find the hashrate of allmost every piece of hardware here:
https://en.bitcoin.it/wiki/Mining_hardware_comparison

And you can plug in the numbers here:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator


As a final note: free electricity does only mean guaranteed profit in case you are only using free hardware. If you have to buy hardware, there is a chance you'll never ROI, even with free electricity.
Most cryptocurrency have block halvings, price fluctuations and diff fluctuations. When buying hardware, also include cumstom charges. Also think about the fact that a lot of ASIC manufacturers only give a couple months of guarantee on their hardware (lots of GPU producers give 1-2-3 years of guarantee)

[Ayers]

Yes you should, its free money if you have free electricity.

If you already have the GPUs, it is free money.

you mean if you've already reached roi on your gpu it's free money? otherwise it's not free money, unless he bought 4 way sli for gaming

[shintosai]

Yes you should, its free money if you have free electricity.

If you already have the GPUs, it is free money.

you mean if you've already reached roi on your gpu it's free money? otherwise it's not free money, unless he bought 4 way sli for gaming

with free electricity you can try nicehash first while you are still looking for funds then after getting profit start buying mining rigs it will double your income without paying electricity. good luck to you.

[adaseb]

Right now with free electricity it would be next to impossible to lose money mining ETH. As long as a R7 370 makes $5 a day for the next 10 days, it should cover any losses in depreciation if he needs to sell it on eBay due to ETH crashing, going POS overnight ,etc, etc.

Worst Scenario ---> Excellent Scenario

Make nothing ----> Makes enough to pay for the GPU ---> Makes $500 per GPU for the next 3-6 months


Building a GPU rig now is near zero risk pretty much compared to BTC mining where you buy an S7 and won't get ROI until 6 months or so. And by then the difficulty will be god knows where and it will be after the halving.

[orcanice]

Thanks for all the replys, the only gpu i have around is a GTX 660 ti. i have done some calculations and im able to pull a total of 20000 watts from the walls.

[adaseb]

Thanks for all the replys, the only gpu i have around is a GTX 660 ti. i have done some calculations and im able to pull a total of 20000 watts from the walls.

That should be good for around 100 GPUs.

But you might need a budget of $25000

[merelcoin]

Thanks for all the replys, the only gpu i have around is a GTX 660 ti. i have done some calculations and im able to pull a total of 20000 watts from the walls.

20Kw, be sure your wiring and breakers are OK with this... you wouldn't want to start a fire would you?
I'm just saying this because 20Kw is quite a lot for a normal household appartment.

[orcanice]

Its the total of all 3 apartments

[Appuned]

Its the total of all 3 apartments

In some country, the maximum current can be draw by a house is 100A, that is about 22-24 kW. So it should be OK for you.

[Za1n]

Thanks for all the replys, the only gpu i have around is a GTX 660 ti. i have done some calculations and im able to pull a total of 20000 watts from the walls.

Since most of the energy expended in mining is basically turned into heat, 20k watts is equivalent to around 68,000 BTUs of continuously generated heat which is quite a bit. Nice in the winter-time, but if people are living in those apartments, you will also need to consider how to get rid of that heat. Open windows and fans only go so far in the summer months and most A/C's would have a hard time keeping it cool, even not considering all the electricity you would be burning through... Not saying you shouldn't do it, just things to keep in mind.

[Hamaber]

Thanks for all the replys, the only gpu i have around is a GTX 660 ti. i have done some calculations and im able to pull a total of 20000 watts from the walls.

Since most of the energy expended in mining is basically turned into heat, 20k watts is equivalent to around 68,000 BTUs of continuously generated heat which is quite a bit. Nice in the winter-time, but if people are living in those apartments, you will also need to consider how to get rid of that heat. Open windows and fans only go so far in the summer months and most A/C's would have a hard time keeping it cool, even not considering all the electricity you would be burning through... Not saying you shouldn't do it, just things to keep in mind.

That is true. You need very good ventilation to get rid of the 20kW heat from the house or the apartment.