zlerp (OP)
Newbie
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Activity: 24
Merit: 0
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October 23, 2017, 07:06:29 PM |
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Hry guys,
I'm looking to get into GPU mining. Not sure exactyl waht coins i want to mine, will probably jump between a few or have them split up mining seperte tokens.
Was wondering what you would recommend to get a rig, or whatever you think would be best from the ground up.
Other Than GPUs, what do I need and how much do those other hardware items effect mining?
thanks all!
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eduinvestor
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October 23, 2017, 07:29:11 PM |
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I don't think it's worth it for you,
Eight months ago I made a budget to invest in mining, but the result was that nowadays it's more profitable to invest (hold) or trade (if you are good at that stuff)
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castiel0504
Full Member
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Activity: 266
Merit: 109
Ultra Mega Giga Super Cool Flying Oposum!
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October 23, 2017, 09:02:43 PM |
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My advice would be : Check Nicehash Calculator with listed GPUs on their site, scroll a little bit down, and find diagram, and find the last value of how much that device has mined BTC per day, multiply it by 30 and that is how much BTC you can get for 30 days WITH CURRENT VALUES.
Nicehash is good for few reasons, its simple 1 click for beginners, it mines altcoins, but you are payed in BTC, which means you don't need to bother with changing which altcoin you are going to mine every moment. Again, you need to include how much electricity costs, and with which price you can afford graphic cards in your area. If you order them from internet, MAYBE you will NEED to pay custom and VAT tax, but that depends from the place you are coming, and possibility of finding graphic cards that are not overpriced so much.
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zlerp (OP)
Newbie
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Activity: 24
Merit: 0
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October 25, 2017, 04:24:48 AM |
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Thanks both of you guys appreciate the responses.
I've heard of the 'investing is better than mining'
But it would be nice to generate income on the red days.
I Will check it out, thanks!
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martyroz
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October 25, 2017, 04:50:25 AM |
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I first heard about Ethereum on 8th June 2017. After a ton of research (and some customs / shipping delays), my initial investment of $2,500 in cards arrived and I plugged them in on July 29th. I since mined nothing but ZENCASH, checking twice daily to recover from crashes, etc.
As of Friday, 20th October, I had mined 167 ZEN. On that day, ZENCASH went 4* in price after a report singled them out as a buy. (to about $4000 USD total)
So here's what I will say to you;
It took 3 months of mining with $2,500 of gear, at approx $500 USD in electricity costs, to have $1,000 USD in ZEN at October 19th.
The next day it was $4,000.
Do you think it is easier to do what I did, or buy $1,000 in ZEN at any point prior to the 20th of October?
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quochuan29
Member
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Activity: 84
Merit: 10
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October 25, 2017, 06:52:22 AM |
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May be you can buy eth now and wait it better than buy a new ring.. If you can find an old once 6*470 ~170Mh with 1700$ you can invest.
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umine
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October 25, 2017, 07:51:40 AM |
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Hry guys,
I'm looking to get into GPU mining. Not sure exactyl waht coins i want to mine, will probably jump between a few or have them split up mining seperte tokens.
Was wondering what you would recommend to get a rig, or whatever you think would be best from the ground up.
Other Than GPUs, what do I need and how much do those other hardware items effect mining?
thanks all!
If you still would like to make GPU mining rig you should take into account miner noise, electricity cost. With proper skills with this budget you even can create miner-water heater to cover your daily need of hot water |
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adam1230
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Activity: 1218
Merit: 1001
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October 25, 2017, 09:07:58 AM |
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Why you don't buy directly some coins from exchanges? Its more cheap for now and you can make more money then mining. Also you will not get headache  |
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Mr_Snipes
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October 25, 2017, 09:12:47 AM |
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At the moment hodling is much more profitable than mining.
Question is if you are in it just for the money or if you are also looking at it as a small hobby.
If you have insanely cheap electricity or you want to educate yourself on how this whole mining works, you could start with a small rig and one decent video-card.
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MrRig
Member
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Activity: 118
Merit: 10
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October 25, 2017, 09:48:57 AM |
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If you wanna do it as a hobby, try it. It's quite fun and you have always something to do. If you wann earn money, it could be way better to invest in cryptos, at least it would've been for me that way. Who knows if I can even pay off my mining rigs anytime soon  |
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AverageGlabella
Legendary
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Activity: 1232
Merit: 1080
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October 25, 2017, 09:50:52 AM |
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You could probably get a few 1080s for that price which would be okay for mining some alt coins.
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Phantoms001
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October 25, 2017, 12:54:34 PM |
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Thanks both of you guys appreciate the responses.
I've heard of the 'investing is better than mining'
But it would be nice to generate income on the red days.
I Will check it out, thanks!
What people are saying is that you aren't "generating income" on red days... They are all red days for about a year +- till you break even. If you buy a coin and it moves up 1.00 you made money, if you are mining you aren't "making anything" you are just trying to break even for a long time. |
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kalymist
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October 25, 2017, 01:02:08 PM |
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don't invest now, it's too late.
there's only one cake at the party.
The more people come, the less is the piece of cake ^^
pretty easy to get right ?
Can't compete with biggest farm.
So it's done.
Should stick to long therm investment.
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DevelopmentBank
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October 25, 2017, 01:36:41 PM |
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don't invest now, it's too late.
there's only one cake at the party.
The more people come, the less is the piece of cake ^^
Very nice analogy, unfortunately, its wrong. There are lots of cakes at the party. There is the ETH cake, the ZCASH cake, the MONERO cake, and everyday they are even baking new cakes like the BITCOIN GOLD cake. Technically, you could still make a profit with GPU mining, but it will take much more time. I believe the latest calculations project ROI only after 1 year++. Practically, i agree with the quoted post and it may be better to stick to investing for profits. |
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Kstudio
Newbie
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Activity: 40
Merit: 0
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October 25, 2017, 01:49:59 PM |
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Wouldn't an s9 be a better investment.
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flip4flop
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October 25, 2017, 02:24:31 PM |
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It is never to late to the party. The real question is are you willing to travel 10-13 months to get to enjoy the cake? It will most likely take that long before you reach profit unless the price of the alts that you are mining increase substantially. The reverse could also happen and it could take even longer before you reach ROI. The method I am taking is I invested in mining equipment and have that running 24/7 in addition to buying and holding every month. Between the two I hope to make back my investment in 8-10 months but anything can happen in the crypto world. If you want to jump in do it, dont listen to others and do your own research and come up with a plan you are comfortable with. Take into consideration electricity, heating and cooling requirements and rig upkeep.
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