Just purchased my first miner!!!! It'll be here in 2 days

[NISMOkwim]

Just purchased my first dedicated miner from NewEgg, and it'll be here with 2 Day Air shipping. In case anyone is curious, here is a breakdown of the types of parts, the costs, the urls and what I paid in shipping

Chassis	APEX PC-389-C Black Steel ATX Mid Tower	$19.99	http://tinyurl.com/n9x9ku
Power Supply	CORSAIR AX1200 1200W, 80 PLUS Certified	$279.99	http://tinyurl.com/65kbalo
Motherboard	MSI 890FXA-GD70	$184.99	http://tinyurl.com/6yswors
CPU	AMD Sempron 140	$37.99	http://tinyurl.com/5wjuzeb
Memory	2GB DDR3	$17.99	http://tinyurl.com/6e9kkdf
Graphics card	3 * Visiontek Radeon HD 5970 - Refurbished	$1,799.99 ($599.99 × 3)	http://tinyurl.com/62hxqpl
Storage	Western Digital 40gb Internal Hard Drive	$9.99	http://tinyurl.com/657r8tf
Thermal Compound	Arctic Silver 5 Thermal Compound - OEM	$11.98	http://tinyurl.com/63xt2af
Fan 80mm	XIGMATEK Series CLF-F8255 80mm	$9.99	http://tinyurl.com/64grqpp
Fan 120mm	XIGMATEK Series CLF-F8255 120mm	$9.99	http://tinyurl.com/5rzc3wx
NewEgg Shipping	2 Day Air (PSU, Mobo, SPU, RAM, Hard Drive, Thermal, Fans)	$0.00	30-Day Free Trial with ShopRunner includes FREE 2-Day Shipping
NewEgg Shipping	3 Day Air (Case)	$9.99	3-Day Shipping just for the case
NewEgg Rush	Rush Order	$2.99	Just so they will hurry up and send my stuff
Unity Electronics Shipping 1	2 Day Air	$23.08	Only reason there are 2 is because I had to split between 2 cards,
Unity Electronics Shipping 2	2 Day Air	18.68	so I could earn the milage on my United Airlines card
Total	Approximate Mhashes 2011.1754	$2,437.61	$1.21203253 per Mhash

All shipping was to Oregon, so that will vary depending on where you live, but shouldn't be too much more unless you live in Hawaii, Alaska, Puerto Rico, or somewhere outside the US.

I'll post pictures of the setup and details of the configurations once I have it all ready Should be up by next week )))

Feel free to ask questions/comments


As always, Happy Mining

[1714023934]

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[1714023934]

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[1714023934]

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[mixmastermine]

Is that a good deal?

[NISMOkwim]

Indeed

[bitebitebite]

Feel free to ask questions/comments

 Have you worked out the very ~ lifetime ROI on this?

 I ask this question as I am currently under the impression you will only get back a fraction of its costs (and would like to be convinced otherwise as I have cancelled a dedicated machine I had on order)

[oOoOo]

I don't understand why people are still buying rigs. At ~17USD/12EUR and with difficulty already above 1.3m it's almost at a loss!

Good luck though...
.

[NISMOkwim]

Feel free to ask questions/comments

 Have you worked out the very ~ lifetime ROI on this?

 I ask this question as I am currently under the impression you will only get back a fraction of its costs (and would like to be convinced otherwise as I have cancelled a dedicated machine I had on order)

My previous calculations weren't correct. I hadn't realized the extent that the difficulty increase would cut into profits. I am canceling my order now
But to answer your question, at 2 Ghash/s at $17

Month	BTC	USD
1	30.6	$520.2
2	10.04	$170.68
3	3.29	$55.93
Total	42.93	$746.81

And with the $91.59/month in electricity costs, I'd be left with about $472.04. So finally after 3 months I'd still be -$1965.57.
This would be only marginally worse if I resold all of the hardware for 40% of their original value, $948.33. Then I'd be -$1017.24

I decided to look at it with a mining pool and this is what I found.




Current Round
Total Pool Ghash/s    1906.47
My Ghash/s              2
Pool Shares             201,669
My Share of Shares   211.6

Estimated Growth      45%
USD Rate                 $17

Month	Pool $	My Share
1	$520,216.10	$545.83
2	$170,639.54	$179.04
3	$55,972.67	$58.73
Total	$746,828.31	$783.60

Given this minuscule $36.79 increase, I'd still be -$980.45



Having seen these numbers, at this point in the mining game you'd be better off starting a mining pool to compete with the big ones. This particular pool, if charging a 2% use fee, would generate +$14,936.57 in 3 months!!!!

Now that's where the real money is at.

To make these calculations I used this calculator: http://striketeam.ath.cx/btccalc/btccalc.php
And I used the numbers from this mining pool: http://mining.bitcoin.cz/stats/

Check em' out!!!! They're both pretty cool

[bitebitebite]

My previous calculations weren't correct. I hadn't realized the extent that the difficulty increase would cut into profits. I am canceling my order now

 At least you got to cancel before it arrived, was very dissapointed when I cancelled mine ~ a week ago after a very rough ROI calculation. I wish there had been a way for this project to be worthwhile for the small guy up until its conclusion (coin mining wise).

[gls90a]

If I have learned one thing about bitcoin so far it has been that you can never be too sure on what the future difficulty adjustments will be. I bought a mining rig about 3 months ago, and it ended up paying for itself rather quickly. I still would have made more if I had just invested the $1,500 in btc itself. But at least I got a free computer out of the deal!

In general though it does make sense that I would have made more money investing in the hard currency on a risk/reward thought....

mining rig=low risk, set amount you can lose or make.
Bitcoin=High risk, could lose everything or make millions.

[deepceleron]

I would just order the gaming computer that you always wanted, just one of those 5970s or two crossfired 5870s on a Sandy Bridge Intel 2500k mobo with 2x2gb ddr3 and an SSD boot drive. A decent quality 750w PS like Antec Earthwatts 750 would be fine. Bitcoin mining might make now the time to upgrade to a nicer computer than you would have bought otherwise, since it will still earn you funny money.

[melmo]

So does this mean that 3x 5970s just freed up on Newegg?  Drool...

[jasonstx]

I picked up an alienware area 51 alx at the dell outlet for $1800 and it came with a 5970.  That is a system I will use for the next few years instead of a disposable mining rig.  I added a 6870 as my primary display and leave the 5970 mining 24/7 with no ill effects on playing games and watching videos.