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Author Topic: Is it still viable to build a mining rig?  (Read 3721 times)
sven
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July 18, 2011, 03:29:38 AM
 #21

mining still is barely profitable
but right now it takes about half a year to pay for itself
(and that's assuming difficulty doesn't rise / price doesn't fall)

so imo it would be really stupid to order a mining rig right now
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sunny day
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July 18, 2011, 04:15:47 AM
 #22

i just built a triple 6990 rig  Grin
lets see how that goes
geckogroove
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July 18, 2011, 04:25:24 AM
 #23

i think now days its a case of gamers or people who would use their rigs for other means giving it a shot to see how things go... i dont think its viable to buy a rig Just for mining, if your a gamer like me, the two graphics cards can be put to use if your mining fails Cheesy
Kivvi
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July 18, 2011, 04:30:10 AM
 #24

Sven, what Calc are you using to come upon this conclusion?  From the numbers I've ran at http://bitcoinx.com/profit/index.php my current planned build would pay off in ~ 2-3 months, with increases 3-4.  Mind you I am planning on putting in a better processor and such to game as well, but I don't plan on factoring that in as I consider those upgrades above and beyond basic mining capability to be a personal expense.  This is not to say the 200+ upgrades above and beyond the bare minimum 100$ I planned to put into the dedicated mining are not accounted for, just that the extra is a personal expense only.
The_JMiner
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July 18, 2011, 05:41:56 AM
 #25

Sven, what Calc are you using to come upon this conclusion?  From the numbers I've ran at http://bitcoinx.com/profit/index.php my current planned build would pay off in ~ 2-3 months, with increases 3-4.  Mind you I am planning on putting in a better processor and such to game as well, but I don't plan on factoring that in as I consider those upgrades above and beyond basic mining capability to be a personal expense.  This is not to say the 200+ upgrades above and beyond the bare minimum 100$ I planned to put into the dedicated mining are not accounted for, just that the extra is a personal expense only.

I do not believe that calculator takes difficulty increases into effect.

jjjrmy
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July 18, 2011, 05:42:56 AM
 #26

no
Kivvi
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July 18, 2011, 05:43:37 AM
 #27

is there one that does <even if purely speculative? >
MountainMan
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July 18, 2011, 07:51:57 AM
 #28

If you have to ask the question here, then you're not going to make money mining. The only way it will work is if you do the research and run the numbers for yourself. If you can't figure out everything you're going to need to make this work, then you're going to miss something, and the calculations will be off by a great deal.

Speculation on an exchange would be more reliable in the short term. Long term, there are so many factors that could change things that nobody could possibly tell you how things will turn out.

God himself would probably have to take a moment or two to untwist that one.
gochk
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July 18, 2011, 01:24:30 PM
 #29

Look at the BTC price charts. Then calculate the cost to build a mining rig, the potential of your rig to produce btc / day - the cost of electricity / day.

I can tell you this much ... BTC price kept on the decline track; it's now only USD13.15 / btc
BlackLung
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July 18, 2011, 01:45:06 PM
 #30

Cough...

I've been down in the mines for about 3 weeks now.

Cough...

With the decrease in BTC/$ and gradual difficulty increases I've gone from maybe 3.5 months to 4 months. Eventually it may take up to 5 months to pay off the components. But like any business it takes a while before you begin to profit.

So if you take a business perspective its still not bad.

Cough... I've been down in these mines for too long... Cough...
geckogroove
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July 18, 2011, 02:42:14 PM
 #31

Cough...

I've been down in the mines for about 3 weeks now.

Cough...

With the decrease in BTC/$ and gradual difficulty increases I've gone from maybe 3.5 months to 4 months. Eventually it may take up to 5 months to pay off the components. But like any business it takes a while before you begin to profit.

So if you take a business perspective its still not bad.

exactly, when's the last time anyone heard of a business running perfectly without any hiccups? bitcoin Is the same, there's ups and downs you just need faith that you business will last
The_JMiner
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July 18, 2011, 02:45:21 PM
 #32

Look if your doing it for a hobby. Go for it, but do not spend money you can not afford to lose.

sven
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July 18, 2011, 03:15:18 PM
 #33

Sven, what Calc are you using to come upon this conclusion?  From the numbers I've ran at http://bitcoinx.com/profit/index.php my current planned build would pay off in ~ 2-3 months, with increases 3-4.  Mind you I am planning on putting in a better processor and such to game as well, but I don't plan on factoring that in as I consider those upgrades above and beyond basic mining capability to be a personal expense.  This is not to say the 200+ upgrades above and beyond the bare minimum 100$ I planned to put into the dedicated mining are not accounted for, just that the extra is a personal expense only.
i spent about 1000€ on my 2.15gh/s rigs
this is getting me about 40 btc a month on deepbit
so ~360€ - ~160€ electricity = ~200€ profit a month

it probably looks better if you just put 1 or 2 mining gpus in a pc you already own
but dedicated mining rigs take a long time to pay for themselves right now

i'm glad i started 1st week of june where everything still was much more profitable
Morebitcoinsplease
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July 18, 2011, 03:18:29 PM
 #34

Look if your doing it for a hobby. Go for it, but do not spend money you can not afford to lose.

I agree completely with The_JMiner, bitcoins is like gambling, try to only use expendable income
leeloulee
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July 18, 2011, 05:55:23 PM
 #35

it seems like the bitcoin market is all over the place right now Im gonna wait a couple weeks b4 I build anymore rigs Huh

SGT longdong
echo2
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July 18, 2011, 06:07:11 PM
 #36

making a huge rid for bitcoin mining is not valuable because you have to pay for internet, power, and the rig
i would wait you only earn a few dollars after all the expenses

donate to1ATLB2mX8Yybu1nAmvKTNEdJxvm61zjTYs
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nmat
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July 18, 2011, 08:58:48 PM
 #37

is there one that does <even if purely speculative? >

Here
OhSoStrong
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July 18, 2011, 10:38:12 PM
 #38

don't mine with hopes to get rich quick, it's ok if you decide to mine as a hobby/for fun...

If you feel generous, please donate =)

13YUp9uexn31jyQqefW8KfjLuiDCzCcKRy
eraziel
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July 18, 2011, 10:39:49 PM
 #39

Yeah it's still quite viable.

If u really want to try it, but not sure about your investment and returns, you can start with a fairly cheap rig
Either go for 2x5830 or 3x5770 gpu's, any decent 600w psu can run them easily,
You will also need a cheap mobo with 2 or 3 pci-e slots, psu and a stick of ram
That's all, you don't even need a hdd, you can run a miner from a usb stick using bamt

that's it pretty much

Just be careful so the motherboard you choose has enough slots for all your cards (you could possibly use slightly modified pci-e x1 riser cables to connect a 3rd card in case your mobo has just two pci-e x16 slots)

Arius
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July 18, 2011, 10:42:41 PM
 #40

making a huge rid for bitcoin mining is not valuable because you have to pay for internet, power, and the rig
i would wait you only earn a few dollars after all the expenses

  After power, internet, and depreciated cost of hardware (3 year MACRS) I make 4% of my original investment a month.  I'm profitable up to 10 million difficulty at the current price, or the bitcoin at $4.  It'll take me 2 years to get all my money back.  If I include the rate of increase in difficulty, I'll probably get my money back as the depreciation schedule ends.  I won't lose a penny and my investment is totally safe.  Equally, if the bitcoin market goes crazy again, I'll be there to get rich.
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