nearly-free elec, few thousands$ budget... should I start mining?

[valar7337]

Hello everyone,

Well, I certainly missed the boat  :'D just learned about bitcoin mining... let's say I was busy learning about other non-profitable stuff, lol!

I have free electricity, and have some few grands to spare on some online-based trade... I love the idea of cryptocurrencies and mining, and being a security and networking specialist I'm already thinking of turning my home-lab into a mining farm x'D

Anyway, now to the questions:

* Would it be a good idea to start mining in some altcoins?
* if yes, can you share an advice for a beginner (which HWs to buy? which SWs and wallets to use?... I already have few computers at home, would they be of any good if I installed good GPUs in them? I even have few HP Gen5 and 6 servers with dual Xeon CUPs).

Thank you all!



Cheers

Val

[joblo]

Hello everyone,

Well, I certainly missed the boat  :'D just learned about bitcoin mining... let's say I was busy learning about other non-profitable stuff, lol!

I have free electricity, and have some few grands to spare on some online-based trade... I love the idea of cryptocurrencies and mining, and being a security and networking specialist I'm already thinking of turning my home-lab into a mining farm x'D

Anyway, now to the questions:

* Would it be a good idea to start mining in some altcoins?
* if yes, can you share an advice for a beginner (which HWs to buy? which SWs and wallets to use?... I already have few computers at home, would they be of any good if I installed good GPUs in them? I even have few HP Gen5 and 6 servers with dual Xeon CUPs).

Thank you all!



Cheers

Val

Start with what you have. Some coins favour CPU mining, others GPU and some ASIC, search
around the forum for them. See my sig for CPU mining software.

If you're a gamer you can mine with your GPUs or you can buy some. Again search around the forum to get an idea about
what GPUs and software to use.

If you like the taste you can invest more.

[adaseb]

Right now is not a good time to start ETH mining.

You should just get some cheap Antminer S5 and do some BTC mining instead. They are cheaper and less headache to run.

[Rabinovitch]

S7s and Avalon6s are now cheap enough too to start mine with it, so i would recommend to buy some. Some second-hand asics to help other miners get their ROI.  I'm speaking seriously. Not all of them has "nearly-free" electricity...

People say that Avalon6 are more robust. Personally I have 2 S7s of different batches for about 4 monthes, both are OK. My fellow has 20+ of S7s, all are OK too.

Ethereum mining is getting less and less profitable, so I would not advice to start mine it. Unless topicstarter has a plans to continue mine with GPU rigs (at Nicehash or directly mine any forks).

Just for fun I would set a CPU-rig with some cheap CPUs like FX-8350.