Too late to start a mining rig?

[Chick]

I just purchased some parts from NewEgg and TigerDirect. Is it too late to start mining? :C

NewEgg will take 2 days to get here, while 3 days with TigerDirect.


Also, should I start with a lot of hardware? Or start small and buy more as you earn more Bitcoins.

[LegitBit]

Not if you have already bought the parts. Choose a pool and get cracking.

[Killarshark33]

I just purchased some parts from NewEgg and TigerDirect. Is it too late to start mining? :C

NewEgg will take 2 days to get here, while 3 days with TigerDirect.


Also, should I start with a lot of hardware? Or start small and buy more as you earn more Bitcoins.

I asked that question as well but I do not have enough to start tomorrow I would say go for it if you can start before the next difficulty increase, because I bet that one will be 70-90% increase...

[Littleshop]

I just purchased some parts from NewEgg and TigerDirect. Is it too late to start mining? :C

NewEgg will take 2 days to get here, while 3 days with TigerDirect.


Also, should I start with a lot of hardware? Or start small and buy more as you earn more Bitcoins.

I asked that question as well but I do not have enough to start tomorrow I would say go for it if you can start before the next difficulty increase, because I bet that one will be 70-90% increase...

The difficulty can not increase 70-90%.  If there was a supply of video cards it would make economic sense to buy them but they are sold out in most places.  A 70% increase would need to be 70% of the 5 terrahashes already out there.  I think difficulty will go up at a max of 30%. 

[Elton Rhodes]

I just purchased some parts from NewEgg and TigerDirect. Is it too late to start mining? :C

NewEgg will take 2 days to get here, while 3 days with TigerDirect.


Also, should I start with a lot of hardware? Or start small and buy more as you earn more Bitcoins.

Do you have a good mining rigs frame to recommend?

[NotFuzzyWarm]

Do you have a good mining rigs frame to recommend?

Any of the Canaan Avalon miners would be an excellent choice.

[nullama]

I just purchased some parts from NewEgg and TigerDirect. Is it too late to start mining? :C

NewEgg will take 2 days to get here, while 3 days with TigerDirect.


Also, should I start with a lot of hardware? Or start small and buy more as you earn more Bitcoins.

Based on the websites you bought your "miner" I'm guessing you want to mine with a GPU with a custom made PC.

Even the smallest USB ASIC miner will be thousands of times better than a great GPU, so you can't realistically mine Bitcoin with a GPU.

You can however mine altcoins with a GPU/CPU. But for that you'll have to post in the Alt Mining section: https://bitcointalk.org/index.php?board=160.0

[Coinfarm ventures]

This is the worst time for building a GPU mining rig. Not only are we in a bear market, but ETH PoS might be coming soon. Video cards are still priced above MSRP. Do not build a rig until you can buy video cards for a discount.

[kamranki]

I just purchased some parts from NewEgg and TigerDirect. Is it too late to start mining? :C

NewEgg will take 2 days to get here, while 3 days with TigerDirect.


Also, should I start with a lot of hardware? Or start small and buy more as you earn more Bitcoins.

Based on the websites you bought your "miner" I'm guessing you want to mine with a GPU with a custom made PC.

Even the smallest USB ASIC miner will be thousands of times better than a great GPU, so you can't realistically mine Bitcoin with a GPU.

You can however mine altcoins with a GPU/CPU. But for that you'll have to post in the Alt Mining section: https://bitcointalk.org/index.php?board=160.0

When you say "Even the smallest USB ASIC miner will be thousands of times better than a great GPU, so you can't realistically mine Bitcoin with a GPU", could you suggest a model and approximate price? I am asking this because I have been mining BTC using Nicehash since last year with 8x 3080s!

[nullama]

~snip~
When you say "Even the smallest USB ASIC miner will be thousands of times better than a great GPU, so you can't realistically mine Bitcoin with a GPU", could you suggest a model and approximate price? I am asking this because I have been mining BTC using Nicehash since last year with 8x 3080s!

You haven't been mining BTC using Nicehash with GPUs.

You have been lending your GPU altcoin hashrate to someone else, and they're paying you in Bitcoin. That's how Nicehash works.

To actually mine Bitcoin, you need to do sha-256 calculations. ASICs are way better than GPUs for that.

A Compac F, which is a small USB ASIC does about 300GH/s, and it sells for about $200-300.

An Apollo BTC, which is a somewhat larger yet still silent, perfect for home, does about 3+TH/s, and it sells for about $500-600.

A GPU is not really comparable because it will be usually hashing altcoins, which have different difficulties. But for SHA-256, they're way worse than any of those ASICs.

[RickyMcMickyMarky]

Not if you have already bought the parts. Choose a pool and get cracking.

Would betting be better?

[nullama]

Not if you have already bought the parts. Choose a pool and get cracking.

Would betting be better?

You can still "bet" with a miner though.

Instead of joining a mining pool, where you get paid a small amount every few hours/days, you could configure your miner to solo mine.

The odds of finding a block are extremely low with a single miner, but any miner can get a block, and you can get lucky. Even at the first try!.

Or alternatively you end up with zero, forever.

[2stout]

This would actually be a good time as some panic has set in and there have been and will be drops in difficulty resulting in more coins for your rig's effort.  A good time to stack and HODL coins to be in a better position for the next bull run which may be some time away.

[Coinfarm ventures]

This would actually be a good time as some panic has set in and there have been and will be drops in difficulty resulting in more coins for your rig's effort.  A good time to stack and HODL coins to be in a better position for the next bull run which may be some time away.

That is what I thought 3 months ago, but the video cards I purchased for $530 are now worth $330. There was a huge price drop last week, but video card prices have not caught up with the crash. Wait 2 months before building a mining rig at the very least

[nullama]

~snip~
That is what I thought 3 months ago, but the video cards I purchased for $530 are now worth $330. There was a huge price drop last week, but video card prices have not caught up with the crash. Wait 2 months before building a mining rig at the very least

You can't realistically mine Bitcoin with a GPU.

You can mine altcoins and sell them for Bitcoin, or you can rent your altcoin hashpower and get paid for Bitcoin.

But those things are different, and depend on the price of the altcoins.

[philipma1957]

the evga 3060ti are now 479 new direct from evga.

they unlock to 58-62 mh

buy 2 cards now and see how things are in a month.

I have a code for them 3% off.

[S3300]

You already bought the parts right? Now its too late to go back, you must have understood that crypto season is bad right now and profits are greatly affected, I am earning less than 6$ with 300MH right now, if you are fine with this then you are welcome.

[S3300]

the evga 3060ti are now 479 new direct from evga.

they unlock to 58-62 mh

buy 2 cards now and see how things are in a month.

I have a code for them 3% off.

What's the price for the Non LHR RTX 3060Ti? Also some one I knew said there aren't any new none LHR 3060ti anymore, how true is this? Because I want to convert all my small graphic cards gfx 1660s to 3060ti FHR.

[Coinfarm ventures]

What's the price for the Non LHR RTX 3060Ti? Also some one I knew said there aren't any new none LHR 3060ti anymore, how true is this? Because I want to convert all my small graphic cards gfx 1660s to 3060ti FHR.

There is no performance difference between LHR and FHR anymore. If anything, FHR will be cheaper since many gamers think they are more likely to have been mined on. If LHR and FHR were priced the same, I would choose LHR because it's more likely to be newer, therefore it should last longer.

[Coinfarm ventures]

the evga 3060ti are now 479 new direct from evga.
buy 2 cards now and see how things are in a month.\

Why are you recommending that people buy cards now? GPU prices haven't really budged compared to last week, right before the big crypto crash. Prices play catch-up with the profitability level, which has been cut in half after last week's crash for a 10¢ miner. The price can easily go from $479 to $400 in a matter of weeks.