Should I invest in GPU mining?

[BeyondDeception]

I think the biggest thing is - only spend what you can afford to lose, because anything can happen. I would NOT put anything on credit cards. If you have the money to spend and you are NOT dependent on this money, then go for it. Whatever you spend, I would try to at least recoup your investment within a few months, but if you don't (which you should) then it doesn't matter. Then take any money you make after ROI and energy and put it towards more machines, because it is more money you can afford to lose. Don't depend on the money - make sure you can live without it. Then once you have a nice amount of money coming in - I would invest in anything you can invest in. Don't try to live off this money, meaning don't create a monthly budget that includes the money you are making off the machines. That way if it goes belly up, then you are good. If you are able to invest enough money - then maybe you set yourself up for the future. Think long term, not short term.

The reason I say all that is because you don't want to put a bunch money on credit cards or spend a bunch of money in savings and then have a catastrophic event either in the crypto-world or in your world.

There's a lot upside, but IMO it's on a knifes edge. Right now it is good, tomorrow it may not be. So every step you make, consider all the risks and ensure you minimize those risks. Hedge your bets.

[1714839281]

1714839281

[1714839281]

1714839281

[fistfullofbtc]

sound advice, one thing as well don't feel guilty to cash profits out when needs be, yes in 10 years you might kick yourself, but we live day to day in the real world.

[iluvbitcoins]

1 gtx 1070 arrived
AsRock h81 pro btc
4 GB RAM

Is there a way I could somehow start mining with that gtx, since there's a long time till the hx1200i arrives

[fistfullofbtc]

1 gtx 1070 arrived
AsRock h81 pro btc
4 GB RAM

Is there a way I could somehow start mining with that gtx, since there's a long time till the hx1200i arrives

if you have a cpu, mobo, power supply, keyboard, monitor, internet connection then yes you can mine with 1 gpu.

[GabryRox]

What's the difference between hx and ax 1200w?

I was thinking of getting something like this
http://www.ebay.com/itm/Corsair-HX1200iProfessional-Platinum-Series-1200-W-ATX-Fully-Modular-PSU-/391806714237?hash=item5b3980017d:g:dGEAAOSwn-tZNc~H

Motherboard
http://www.ebay.com/itm/90676830-ASROCK-H81-PRO-BTC-R2-0-BITCOIN-SOCKEL-1150-ATX-/162488880055?hash=item25d5178bb7:g:D48AAOSw3ZRY~gMa

CPU
http://www.ebay.com/itm/B0306883-CPU-INTEL-CELERON-DUAL-CORE-G1840-PC1150-2MB-CACHE-2-8GHZ-BX80646G1840-/172662807046?hash=item2833815a06:g:7LMAAOSwq1JZDbY6

GPU
http://www.ebay.com/itm/Sapphire-RX-470-4G-NI-OC-RADEON-RX-470-4G-GDDR5-NITRO-OC-/232336483386?hash=item361855643a:g:WYkAAOSwi7RZGa-n
x4 simmilar prices

http://www.ebay.com/itm/Asus-GeForce-GTX-1070-Turbo-Graphics-Card-8GB-GDDR5-DVI-D-HDMI-DP-/282510723638?hash=item41c6f38a36:g:ylYAAOSw2xRYgiU0#viTabs_0
x2 probably

And
https://www.ebay.co.uk/p/PCI-e-Express-1x-to-16x-Riser-Card-USB-Cable-Adapter-Extender-for-Mining-Bitcoin/1625137701
x10

That would be all I need?
Total would be around 2500$

man, double retail and beyond for all old 470/480s now... really wish I would have had the foresight to go clean out all my local stores a couple months ago and turn a nice little 100% profit will very little effort!

[Raziel87]

If you start with the idea of mining now and pay high prices for "old" gpu's with high hashrates is a big risk.
When Ethereum grenades to POS and is less profitable. Guess where the ethereum gold diggers are going? to the other coins.
Diff will rise exponentially with less return. Good luck on selling your old gpu's with very little resale value.
be cautious 

[jennywhzz]

If you start with the idea of mining now and pay high prices for "old" gpu's with high hashrates is a big risk.
When Ethereum grenades to POS and is less profitable. Guess where the ethereum gold diggers are going? to the other coins.
Diff will rise exponentially with less return. Good luck on selling your old gpu's with very little resale value.
be cautious 

If you are looking to make money long term with a GPU, that means near constant research and coin switching.  You can use a profit switching pool, but make sure that the only pool fees are the normal fees and not higher to switch coins. 

[fistfullofbtc]

If you start with the idea of mining now and pay high prices for "old" gpu's with high hashrates is a big risk.
When Ethereum grenades to POS and is less profitable. Guess where the ethereum gold diggers are going? to the other coins.
Diff will rise exponentially with less return. Good luck on selling your old gpu's with very little resale value.
be cautious 

If you are looking to make money long term with a GPU, that means near constant research and coin switching.  You can use a profit switching pool, but make sure that the only pool fees are the normal fees and not higher to switch coins. 

i do this, but you will never make millions, it is steady stream of money, but miners go down etc. i think if i had the cash would buy strong coins.

[posternat]

If you start with the idea of mining now and pay high prices for "old" gpu's with high hashrates is a big risk.
When Ethereum grenades to POS and is less profitable. Guess where the ethereum gold diggers are going? to the other coins.
Diff will rise exponentially with less return. Good luck on selling your old gpu's with very little resale value.
be cautious 

If you are looking to make money long term with a GPU, that means near constant research and coin switching.  You can use a profit switching pool, but make sure that the only pool fees are the normal fees and not higher to switch coins. 

i do this, but you will never make millions, it is steady stream of money, but miners go down etc. i think if i had the cash would buy strong coins.

Really, GPU mining is more of a hobby at this time and more and more so as time goes on.  Hobbies cost you money in the long run, maybe only a little, but they do not generate income.  If you have another use for the GPU, like just generally having a faster computer to play with and use, then the investment has two benefits.

[iluvbitcoins]

I'm not going to need and extra cables for the setup?

I have ordered 9 risers and a sata 3.0 for the SSD

Also, so far I have received 2 rx470s and one gtx1070, intel celeron and asrock h81 probtc

The hx1200i from amazon.co.uk set the dispatch date at 28th June so it's going to take a while before I start mining..

The 2 rx470s I ordered from ebay have not yet been marked shipped and the arrival date was supposed to be yesterday
No response from the Italian seller at all!

I'm afraid I'm going to have to request a refund and find 2 GPUs somewhere else

[jennywhzz]

If you start with the idea of mining now and pay high prices for "old" gpu's with high hashrates is a big risk.
When Ethereum grenades to POS and is less profitable. Guess where the ethereum gold diggers are going? to the other coins.
Diff will rise exponentially with less return. Good luck on selling your old gpu's with very little resale value.
be cautious 

If you are looking to make money long term with a GPU, that means near constant research and coin switching.  You can use a profit switching pool, but make sure that the only pool fees are the normal fees and not higher to switch coins. 

If you are talking about using a separate PC and the GPU card investment is just for mining, be prepared to make it a second job to really make anything at all.

[fistfullofbtc]

ive mined/ing for 3 months with 4-6 gpus, i have changed the rig design 4 times, changed fans, stopped a potential fire when i overloaded the psu on 1 line. this is one rig, people think it is easy it isn't, because shit happens and you need to solve it quickly. i make a bit of money but nothing to even give a job up for and mine cost 3k usd. it is a lot of hassle foe not a lot returns.

[kjs]

Not at this stage unless you have an advantage versus the competition.

Just buy your choice of coin(s) directly at this stage, lock them away securely, then check back in a years time

[fistfullofbtc]

profitability has halved pretty much this week which is shit.

[stefek99]

I've invested £2k into a ready-build 6xGPU mining rig.

Hoping for the positive outcome.

I hope it will pay for itself in the 1 year or so...

(back in the day the calculators shown 2 months ROI)

[dadesu]

If you are living in country with relatively cheap electricity there is no reason you will not invest in gpu mining.
Gpu mining have potential to last for very long time period. And if you dont have cheap electricity then
go to buy some coins with good potential, like ethereum, netko, ripple...