Entry level minning rig, Expense vs. Profit???

[Coinseeker22]

Im thinking to put up an entry level minning rig with the budget around 4 to 5 thousand USD. But my question is, is it worth it? Should i proceed with it or save for a better rig? Given the idea that GPU’s are either expensive or out of stock plus the expenses to run and maintain the rig versus the profit you get and the competitors? Lots of questions in my head guys need help. Thank you in advance

[treanski]

currently roi time is very long, because gpu prices still high...but everything can change within days/weeks...to be more or less profitable
crypto is always a little bit gamble, just play with money you can effort to loose 100%

on the other hand your question have been asked here 100000 times, just use search function

[Piskeante]

i would advice not to buy gpu's in a very deep down trend. You´ll get almost no profit at all. Unless you want to mine for hold. In that case, it's better to buy directly the coins with the money of the rig. simple as that.

If you mine, is because you want to sell the coins for electricity. Other than that, is just nonsense.

[Eternu]

I have heard that maybe soon people would be able to buy ASIC miners for crypto other than Bitcoin. If that happens, it would be wiser to go for ASIC miners instead of GPU's.
At the moment GPU mining doesn't pay off very well. Money you would need to invest would be trapped, and earning invested money back would be slow. But its possible, and it would be profitable.
Also, I have heard that Nvidia is planing to release new set of GPU's. If and when that happens, prices of old series would go down. You should wait and see how things are going to work out.
With that much money you could start mining project, but my advice would be to wait a little bit before you decide what to do.

[Coinseeker22]

currently roi time is very long, because gpu prices still high...but everything can change within days/weeks...to be more or less profitable
crypto is always a little bit gamble, just play with money you can effort to loose 100%

on the other hand your question have been asked here 100000 times, just use search function

Agreed sir, forgive me for being such a noob. Investment is always a gamble in that matter. There are a lot of infos here and out, and it’s difficult filter.

[Coinseeker22]

i would advice not to buy gpu's in a very deep down trend. You´ll get almost no profit at all. Unless you want to mine for hold. In that case, it's better to buy directly the coins with the money of the rig. simple as that.

If you mine, is because you want to sell the coins for electricity. Other than that, is just nonsense.

Good point here. Which where i stand now. Ive seen a thread where poeple start to sell their rig. Which the post above answered the ROI takes time.

[Coinseeker22]

True! It would a game changer if we can mine different coins using ASIC. It is ideal when it comes to expenses and maintenance. I have heard the news about NVIDIA and also keeping an eye weather this new gpu is a better match for the for my project.

[edwardceng]

it's better to buy directly the coins with the money of the rig. simple as that.

it's no better but pretty good and that also have risky.

when you buying a coin and then that coin is diving, whether you will selling that a coin to reducing a loss.? or

Do you wait until a coin return like first you bought that coin? or

you hodl that coin and hope that price a coin headed to the moon?.

(don't think buying coins can be profitable even though I know that prices can't be predicted but still, have to think about the risks its.)

not that simple, mining or buying a coin has risky each.

[Eternu]

it's better to buy directly the coins with the money of the rig. simple as that.

it's no better but pretty good and that also have risky.

when you buying a coin and then that coin is diving, whether you will selling that a coin to reducing a loss.? or

Do you wait until a coin return like first you bought that coin? or

you hodl that coin and hope that price a coin headed to the moon?.

(don't think buying coins can be profitable even though I know that prices can't be predicted but still, have to think about the risks its.)

not that simple, mining or buying a coin has risky each.

Nothing is simple when it comes to investing and mining, there are a lot of factors that could change everything. As I see it, mining brings lower earning, but safer income with lower risk. While trading brings higher income, but it goes with higher risk. Best option is to do both. It demands knowledge and much more time invested, but it could bring much more. OP asked about mining, so I guess s/he is not interested in trading at this point.

EDIT: Also there is option where OP could do mining and later on sell that coin for some more stable and stronger coin, like BTC or ETH.

[Coinseeker22]

@Edwardcemg, didn’t quite understand but what i grasp is your talking about risk on trading right? If so, you have a good point. About trading and hodl we both know how the market goes.



@Eternu, i have to agree with you. All investment should have a prior knowledge of it. And thats why i open this topic. We all know that minning is the most safest when it comes to this business and that is why i opt to set this project.

[edwardceng]

@Edwardcemg, didn’t quite understand but what i grasp is your talking about risk on trading right? If so, you have a good point. About trading and hodl we both know how the market goes.

It's not that.

the point is mining have risky. I only explain when purchasing coin isn't a better way if compared with build rig for the first time let alone for now where the price of GPU increased sharply.

[Mamasita22]

Buying coins better in case if you decide buy rig and start mining for long-term hodling

[nsummy]

Im thinking to put up an entry level minning rig with the budget around 4 to 5 thousand USD. But my question is, is it worth it? Should i proceed with it or save for a better rig? Given the idea that GPU’s are either expensive or out of stock plus the expenses to run and maintain the rig versus the profit you get and the competitors? Lots of questions in my head guys need help. Thank you in advance

If you are putting together a new rig that will be used for only mining, I would advise against it at this juncture.  Earnings are in the gutter and I think it would be impossible to recoup your costs before the new Nvidia cards come out.  You are probably better off waiting until those are released to do anything.

[Ultegra134]

Im thinking to put up an entry level minning rig with the budget around 4 to 5 thousand USD. But my question is, is it worth it? Should i proceed with it or save for a better rig? Given the idea that GPU’s are either expensive or out of stock plus the expenses to run and maintain the rig versus the profit you get and the competitors? Lots of questions in my head guys need help. Thank you in advance

I wouldn't invest a single dollar currently, mining profitability keeps decreasing. If you spend that much money, it will either take years to break even, or not even manage to earn back what you invested in the first place. It's probably the worst period to get into mining currently.

[Coinseeker22]

@Edwardcemg, didn’t quite understand but what i grasp is your talking about risk on trading right? If so, you have a good point. About trading and hodl we both know how the market goes.

It's not that.

the point is mining have risky. I only explain when purchasing coin isn't a better way if compared with build rig for the first time let alone for now where the price of GPU increased sharply.

Do you mind to share the risk that your referring to sir? Underatamd the price of the GPU’s but to purchase a coin is not better you lost me right there sir.

[Piskeante]

Buying coins better in case if you decide buy rig and start mining for long-term hodling

THIS!!!!

miners want instant profit by selling. If you are a holder mining, that doesn't make sense since electricity costs will crash your income.

[Mamasita22]

You may be surprised, but I know many miners trying to prove that this makes sense

[Coinseeker22]

Im thinking to put up an entry level minning rig with the budget around 4 to 5 thousand USD. But my question is, is it worth it? Should i proceed with it or save for a better rig? Given the idea that GPU’s are either expensive or out of stock plus the expenses to run and maintain the rig versus the profit you get and the competitors? Lots of questions in my head guys need help. Thank you in advance

If you are putting together a new rig that will be used for only mining, I would advise against it at this juncture.  Earnings are in the gutter and I think it would be impossible to recoup your costs before the new Nvidia cards come out.  You are probably better off waiting until those are released to do anything.

Agreed, NVIDIA will launch it on april 12 but whats not clear is waether GTX 2070 or 2080, more so been trying to hunt for at least how much this would sell.

[bobo012]

I have heard that maybe soon people would be able to buy ASIC miners for crypto other than Bitcoin. If that happens, it would be wiser to go for ASIC miners instead of GPU's.
At the moment GPU mining doesn't pay off very well. Money you would need to invest would be trapped, and earning invested money back would be slow. But its possible, and it would be profitable.
Also, I have heard that Nvidia is planing to release new set of GPU's. If and when that happens, prices of old series would go down. You should wait and see how things are going to work out.
With that much money you could start mining project, but my advice would be to wait a little bit before you decide what to do.

Never liked ASICs, they tend to get absolute quickly, when new generation gets out. GPUs are more resilient to the time, because theres always some new coin to mine...

[enhu]

I was expecting to see some configuration and mining rig photos in this thread for the entry level but was disappointed 
 
We all are seeing more coins being released almost every day and they can be mined with GPU so I think having a GPU miner can work so long as you can pay electricity with that you can come up. You can always buy coins with the profit.