Making a profitable rig for altcoin

[manav1112]

Hi can someone recommend me the hardware for making a profitable rig for altcoins?
I was thinking
I have a old desktop, so i would just upgrade the GPU to a:
$200 Radeon 7950 which should recover cost in 100 days through WDC. But surely there must be better GPU mining solutions for more profit?

[Hazard]

Mining is not profitable. Especially if you're doing a 1 GPU rig.

[Leehoya]

A few gpu or 10++ gpus would be profitable. 1 wont get you really far.

[BitshireHashaway]

Mining is not profitable. Especially if you're doing a 1 GPU rig.

And especially if your using that 1GPU to mine WDC.


I would recommend switching to each coin right as its created (so you have a decent amount of hashing in it compared to the overall), and building up a small stake. Then if the price rises a lot, you make a lot of money and if it doesn't rise than it doesn't.

[int3ractivodular]

Mining is not profitable. Especially if you're doing a 1 GPU rig.

If you have free power, work the exchanges, and mine coins on release, it's stupidly profitable.

[manav1112]

Mining is not profitable. Especially if you're doing a 1 GPU rig.

If you have free power, work the exchanges, and mine coins on release, it's stupidly profitable.

Consider my bills free for the next 6 months due to a lawsuit. What do you mean by that? Work the exchanges and mine coins on release? Meaning? 

[hulk]

Hi can someone recommend me the hardware for making a profitable rig for altcoins?
I was thinking
I have a old desktop, so i would just upgrade the GPU to a:
$200 Radeon 7950 which should recover cost in 100 days through WDC. But surely there must be better GPU mining solutions for more profit?

Not profitable as you forget about your motherboard, power supply, ram and etc. You would be paying a total of $800 just to house 1 GPU.

[110110101]

...
Work the exchanges and mine coins on release? Meaning? 

Mine new coins as they are released on the Altcoin forum (here) while the difficulties are lower. Take your current coins to the exchanges, cryptsy, mcxnow and others, sell when the price is high, buy back when the prices are lower. Do this over and over and your wallet will grow. Probably much faster than running 1x7950. But nothing is free so the rewards will be from your efforts on the exchanges. More efforts == more rewards.

[manav1112]

Hi can someone recommend me the hardware for making a profitable rig for altcoins?
I was thinking
I have a old desktop, so i would just upgrade the GPU to a:
$200 Radeon 7950 which should recover cost in 100 days through WDC. But surely there must be better GPU mining solutions for more profit?

Not profitable as you forget about your motherboard, power supply, ram and etc. You would be paying a total of $800 just to house 1 GPU.

Erm, I have a computer already that I got as a gift and I am just going to upgrade that. I made sure, they are all compatible

Get 5+ GPUs at minimum, else it won't be profitable too much.

The time to breakeven will be the same though.. its not like I will get the GPU's cheaper for buying 5 of them at once. BUT I just may do that as its not a bad idea, if I do that and get $8 - $9 a day xD

...
Work the exchanges and mine coins on release? Meaning?  

Mine new coins as they are released on the Altcoin forum (here) while the difficulties are lower. Take your current coins to the exchanges, cryptsy, mcxnow and others, sell when the price is high, buy back when the prices are lower. Do this over and over and your wallet will grow. Probably much faster than running 1x7950. But nothing is free so the rewards will be from your efforts on the exchanges. More efforts == more rewards.

I see. Good idea, gonna start now
EDIT: by that u would mean altcoins in purgatory on this list, correct: https://bitcointalk.org/index.php?topic=134179.0