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Author Topic: Is mining worth anymore?  (Read 1046 times)
vctr1337
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January 29, 2017, 10:15:42 AM
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Okay guys so heres the thing, I'm currently using my main pc and Nicehash miner just to try this out, i've been reading a lot but there still are some unanswered questions that i have.
I've recently been thinking about making a mining rig, now the thing is i dont know if i should buy 3 HD7950s, because i have one lying around so i would have 4 gpus, or just buy one powerful card used only for mining 24/7. The 7950s would cost me around 350$ so that isn't a problem. Should i use my main computer and just take out the gpu (im currently running a GTX 970) and buy a new psu (i have a Corsair CX600) or buy a whole new setup (cpu, ram, etc.).
If i buy a whole new setup the parts are mostly going to be cheap, excluding the PSU and motherboard. That means a single core intel cpu, 8 gigs of 1600 mhz ddr3 ram (i have that lying around too). What motherboard would you recommend?
Another question i have, are these cards even a good choice? I chose them mainly because i have an old 7950 lying around and they are cheap.
Now if i bought these cards, how the fuck am i going to fit them onto one motherboard?
Lets not consider electricity in terms of profitability, since i pay a fixed amount for electricity with my rent. I consulted this with my landlord and he said that he doesnt care.
Just for your information this wont be my main income, its just that i wanted to try something different, im expecting a yearly return of 1100$ including the ROI of the gpus (not the other components tho).
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January 29, 2017, 10:42:04 AM
 #2

The answer is yes and no. Mining Bitcoin with this is useless, don't even attempt it. What you should be doing (and where this thread will be moved) is look for information in the altcoin section.

Another question i have, are these cards even a good choice? I chose them mainly because i have an old 7950 lying around and they are cheap.
It depends on highly what you plan on mining. If you have an old 7950 just lying there, and your electricity cost is fixed then there's no harm into putting that one to work as well.

Now if i bought these cards, how the fuck am i going to fit them onto one motherboard?
You only need enough slots and a certain type of cable called 'Riser'. Here's how USB risers look (but there are plenty of other variants): https://www.youtube.com/watch?v=sOBxoSQyZFc

http://www.coinwarz.com/cryptocurrency - Mining profitability calculator.
https://bitcointalk.org/index.php?topic=1382920.0 - Here's a thread with a fair amount of replies for choosing GPUs.


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odolvlobo
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January 29, 2017, 10:45:28 AM
 #3

Forget GPUs. I don't know how you expect to earn $1100 per year. Even with multiple GPUs, you will only mine maybe 0.00002 BTC per month.

You need an ASIC miner.


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vctr1337
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January 29, 2017, 10:51:36 AM
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Forget GPUs. I don't know how you expect to earn $1100 per year. Even if your electricity is free, you will only earn maybe 0.00002 BTC per month.

You need an ASIC miner.



im not even slightly considering mining bitcoin, i posted in the wrong neighborhood lmao
vctr1337
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January 29, 2017, 11:15:15 AM
 #5

The answer is yes and no. Mining Bitcoin with this is useless, don't even attempt it. What you should be doing (and where this thread will be moved) is look for information in the altcoin section.

Another question i have, are these cards even a good choice? I chose them mainly because i have an old 7950 lying around and they are cheap.
It depends on highly what you plan on mining. If you have an old 7950 just lying there, and your electricity cost is fixed then there's no harm into putting that one to work as well.

Now if i bought these cards, how the fuck am i going to fit them onto one motherboard?
You only need enough slots and a certain type of cable called 'Riser'. Here's how USB risers look (but there are plenty of other variants): https://www.youtube.com/watch?v=sOBxoSQyZFc

http://www.coinwarz.com/cryptocurrency - Mining profitability calculator.
https://bitcointalk.org/index.php?topic=1382920.0 - Here's a thread with a fair amount of replies for choosing GPUs.

Its settled then, assuming that the cards will work together just fine no matter what manufacturer they are from, i will buy a motherboard with 4 gpu slots, 4 usb risers, a cpu and a good PSU. Oh and some fans to keep the rig cool.
Now, which cpu and psu should i buy? Because 4 of these bad are going to pull quite a lot of power.
I use nicehash miner so the profits are calculated by their calculator. Their software automatically changes algorithms to whichever is more profitable at the moment.
BuyWithBitcoin.info
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January 29, 2017, 09:45:04 PM
 #6

All i can say most people i know that mined bitcoin cries about how their investment burned, they even don't get a return from it, you need a lot of miners to compete with other nodes, this is the business where wins the one who invests more money in the miners than other players

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techgeeks8
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January 30, 2017, 04:29:05 AM
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not anymore unless your planning to invest on a humongous scale
vctr1337
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January 31, 2017, 04:56:29 PM
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All i can say most people i know that mined bitcoin cries about how their investment burned, they even don't get a return from it, you need a lot of miners to compete with other nodes, this is the business where wins the one who invests more money in the miners than other players

yeah that doesnt apply for altcoins, does it tho
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January 31, 2017, 06:44:22 PM
 #9

if you have not high electricity it's profitable with gpu, you can easily do $200 per month with a rig, with proper electricity like 5 cent per kwh
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January 31, 2017, 06:55:58 PM
 #10

Forget GPUs. I don't know how you expect to earn $1100 per year. Even with multiple GPUs, you will only mine maybe 0.00002 BTC per month.

You need an ASIC miner.



Worst advice ever. In order to break even with GPUs you don't need to wait like year or so. You just need few months mining and if you see that it's not going your way you can always sell your GPUs to gamers for almost same price and you did not lose any money.
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