New miner introduction & questions

[Seeko]

Hey,

Just wanted to introduce myself to the board. I've been into cryptocurrencies since May 2017 and it has been a very informative journey. I've learned a lot about how I view money myself, as well as what money actually is and could be, as well as the power of the blockchain and other decentralized networks. I haven't spent much time lurking these forums, but I am aware that much knowledge and wisdom comes from here, so thank you to everyone here who has contributed and carried bitcoin and altcoins thus far.

With that said, I just bought 2 1080ti's to begin my first miner build. I have experience with putting together gaming PC's, and I'm familiar with most of the hardware and operating software (command lines, etc) but this still feels brand new to me, so I'm trying to learn everything I can. I've been following VoskCoin's YouTube channel, and I see that he's here too, so that's cool. I've actually taken half of my crypto holdings to build this rig, and I only need a few more pieces to finish. Looking forward to getting started, and I have a couple of questions...

Considering the current Bitcoin action, would it be wise to use all of my crypto holdings to fund a miner? I plan on actively maintaining and operating the miners to ensure maximum profitability and my strategy is to sell enough to get my ROI and pay the electricity, then hold the rest. I know nobody knows what's going to happen tomorrow, but it would be nice to hear about other peoples experiences with selling their crypto for mining equipment... I mean, it would essentially be like buying more crypto either way, right? Trying to figure this out...

I think that's everything for now.. I'll keep this updated with my build and how everything goes. Looking forward to getting to know you guys.

Later

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[BitMaxz]

Since you are starting to build your own mining build i think better to continue to mine but don't forget of holding crypto mainly for bitcoin because as you can seen bitcoin is huge price increase than altcoin.. You are good to go and choose the right way but i recommend to buy miner not in GPU because its not so profitable i mean the ROI is longer than buying a real hardware for mining like antminer s9 its more efficient that the other hardware if we compare the electricity of hashing power i will go invest and buy antminer s9 it can gives me i think $25 to $35 in bitcoin daily with the current price and difficulty..
But you can be still mine coins with GPU but it takes longer before you can get your ROI..

[Seeko]

I'm familiar with asics, but from what I understand, aren't they outdated way sooner than GPUs? I hear stories about people ordering them, only to have them be obsolete due to increasing algorithm difficulty before they actually receive them. How do you avoid this? How do you time it so you can sell it before it's too late, yet still remain profitable?

[Seeko]

Well, I'm brand new to all of this. Currently setting up my rig now. Only have 2 1080ti's in now, but I'll be adding more soon. I'm looking at Monacoin, as I hear it has a great future. Also zcash, but if you want maximum profitability, whattomine.com is your best friend.

[ghosuk]

Do I need to buy superconfigured supercomputers to become miner?

[GregorWar]

Do I need to buy superconfigured supercomputers to become miner?

i'm considering to buy this for mining:

- H81PRO BTC R2.0
- CPU intel 1150
- D3 4GB
- SSD 60GB
- PCU 1200W PLATINUM
- RX 570 8GB...i would prefer 470 8gb but can't get it (no stock) or the price is just to high


hope i helped u...

[odolvlobo]

It is no longer feasible to mine bitcoins with a PC. However, you can mine other coins and get paid in bitcoins, using a site such as NiceHash. You should expect to make a couple dollars per day, at most.