Opinions Please

[kell_brook]

Hello everyone. I've been reading this forum for some time and finally decided to join. I want some opinions on setting up a mining rig. I've done a lot of research already but I know I'll get tons of different answers to the same question so I'd love to get insight from different opinions . I've been a crypto enthusiast since around 2012 and have always dabbled in buying different cryptos for some time now, but I've never really researched mining. I'd like to set up a small mining operation but with so many options I'm really torn on what would be right for my objectives and goals.

First off, my main goal right now is to try to amass the most crypto possible through mining. At this time I'm not very concerned about turning an immediate profit or being extremely efficient with energy, I simply want to amass as much crypto as possible and storing in a mix of BTC, BCH, ETH, and LTC with maybe 5% in random cryptos.

By budget right now to start is about 16,000 USD with a supplementary $2000 monthly i'm looking to invest in equipment, repairs, electric etc.

With such a plethora of mining equipment out there I'm torn between buying GPU or trying to score a couple ASIC miners even though they seem horribly overpriced right now. If I were to go the ASIC route I'm afraid of one of them malfunctioning and essentially ruining half my operation. However buying GPU's seems to be much more messy and not as efficient. What ASIC or GPU cards do you guys recommend for highest hash per investment dollar?

Thanks in advance for any answers .

[kell_brook]

Also if I were to go the GPU route, what would you guys recommend mining? sticking to one currency like ZCASH or diversifying the mining operation?

[Doctorsti]

Whattomine.com may help you decide what to mine as prices change. Can always exchange for what you want.

I’m very new too. Building my first rig soon as the parts come in with 1070 ti’s. ASIC route seemed too restrictive to me in that you can only deal with a couple coins and if they are heading down you can’t divert to something on the rise.. and they cost an arm and a leg.

Can get used asic miners for 25% off though right now if you’re dead set on that. No affiliation and I’m not savvy enough in this hobby to trust used equipment since I’m still learning how to work with new stuff.
https://discountminers.com/?gclid=CjwKCAiApo3SBRA4EiwAty8i-kT4QKxn9C3blmOEqR0QHoHgKWmJyS5uAI84PO25ZwvwD0KXXd7fuhoCFG0QAvD_BwE

[shibob]

I think if you plan to purchase some Asic miner, you should wait for the very first batch.
Typically, the the new upgraded miner will have X2 hash power than the previous version while the price is not that much more.
You may consider some GPU miner as well, for Asic miner, we need to care much things such as guarantee, ROI, noise.

[leonix007]

Also if I were to go the GPU route, what would you guys recommend mining? sticking to one currency like ZCASH or diversifying the mining operation?

if you're not into a short term profit and would like to hold coins then sticking a valuable coins is yours, however if you have to pay your bills and other costs then you might be chasing profitable coins. Coins like Cryptonight,Ethash, Equihash, Neoscrypts and Lyra Algos are popular for GPU mining and somewhat profitable as of the moment.

What ASIC or GPU cards do you guys recommend for highest hash per investment dollar?

For a long term mining investment, choose premium GPU's like AMD vegas, RX 570,580, GTX 1070,1080ti's

ASIC could be a user friendly as you don't need to do setup hardware and installing OS compared to GPU's

[flip4flop]

Depending on if you have room for the heat/noise and can get your hands on an ASIC miner without paying a premium I would suggest going that route.  Although those are hard to come by without being on a long wait list.  If you go the GPU route you can start putting together rigs now and be up in running in a matter of days if you can get all the parts quickly. 

You could always do half GPU and have ASIC miners if you have a location with enough power.  Start with GPU rigs until you get some ASICs.  Take a look at www.whattomine.com to estimate what you could make.

[jmigdlc99]

Also if I were to go the GPU route, what would you guys recommend mining? sticking to one currency like ZCASH or diversifying the mining operation?

An intelligent strategy is to always mine the most profitable coin (this of course will depend on the GPU that you are using, as mentioned use whattomine.com), then just simply convert/exchange this coin to whichever you feel like would be more valuable in the future. Concretely, don't directly mine coin A for it's future value. Rather, mine coin B that will allow you to buy more of coin A. Future profits will always come.

[kell_brook]

Also if I were to go the GPU route, what would you guys recommend mining? sticking to one currency like ZCASH or diversifying the mining operation?

An intelligent strategy is to always mine the most profitable coin (this of course will depend on the GPU that you are using, as mentioned use whattomine.com), then just simply convert/exchange this coin to whichever you feel like would be more valuable in the future. Concretely, don't directly mine coin A for it's future value. Rather, mine coin B that will allow you to buy more of coin A. Future profits will always come.

Thank you. This is definitely what I want to do. With my budget however, would it be more wise to do half ASIC and half GPU or would be be more profitable (from initial investment) to buy straight GPU and mine some random altcoin that generates the most profit?