LTC group buy!

[jduartedj]

Update: 01-01-2014
Just to let you know that a private Group Buy for LTC mining is undergoing as we speak, pm me for more details/joining.

per Machine value ~2000$
Shares ~20$
Option to invest in several machines
Option to invest in 1 machine solo

Update:

Based on recent statistics I'd say people are inclined towards GPU mining for LTC mining.

If anyone is interested in starting a LTC GPU Group buy please reply below for pre-statistics.

Use this formate please: username value_would_spend

value_would_spend has to be in USD$, BTC or [ltc] and represents the value you would invest in LTC group buy.

Thanks!

Hello,

Developing in LTC technologies is not as easy as BTC therefore it must be carefully thought out before proceeding with an investment.

To explain the poll's options here's a brief description:

1. By mining in a group buy with GPU we're able to build a big rig with expensive equipment and start mining LTC ASAP hoping that in the future LTC increases in value and we've got some coins in store before the ASIC is out. A not-so-foolish speculation is that once ASICs are out (and they will be I'm sure) the price will rise making our 1 LTC go from 20-30$ to 200$-300$ or even 500$ (sky is the roof). Value should be more expensive

2. By preordering we're gaining access to ASIC as soon as they are out and might be one of the firsts to collect massive amount of LTC before the difficulty rises and the LTC value rises. Hassle free since it's just order and setup. We'll have to deposit our trust in the company that is selling pre-orders unsure of release dates or authenticity. Fixed value.

3. Investing in development (I know of a group of interested researchers) could result in gaining early access to LTC ASIC and probably even running first prototypes. I has the time and trust advantage over the preorder solution but requires a bigger commitment. Value should be the same as pre-order.

4. Investing in LTC with a trade bot COULD allow for an acceptable amount of LTC grow at a mild rate until the BOOM comes (it will come) and then at good rates! A bot is a bot we all know that it might have flaws and still needs to be monitored. Value invested is the same or even any.

5. Investing in LTC and waiting it out is a bold option but assuming LTC value increases in the future it will be surely profitable. 100% Hassle free since the coins only need to be in a wallet until our deadline is reached. It would have to be in an escrow wallet with decision deadlines so that no-one is tempted to move the funds.

Happy Voting!

[jduartedj]

Based on recent statistics I'd say people are inclined towards GPU mining.

If anyone is interested in starting a GPU Group buy please reply below for pre-statistics.

Use this formate please: username value_would_spend

value_would_spend has to be in USD$, BTC or [ltc] and represents the value you would invest in LTC group buy.

Thanks!

[sniffinpoprocks]

I recently saw a lot of 40 r9 290x's for $300 ea, if you find something like this I'd be interested.

[jduartedj]

Hi,

I'm not currently aware of any lot purchase that is so cheap But I'm open to suggestions.
what value would you spend on this group buy?( just an estimate )

[superresistant]

I'm in.

Be aware that the main factor for scrypt mining with GPU is the electricity cost. You must know perfectly how to setup the rig and optimise the ratio MH/S/Watt.
You must set the rig in a place with very low electricity cost and be able to do maintenance.

[jduartedj]

I'm in.

what value would you spend on this group buy?( just an estimate )

[superresistant]

I'm in.

what value would you spend on this group buy?( just an estimate )

10 BTC

[jduartedj]

WOW That alone would cover the hardware costs unless you are thinking about overtaking LTC community before asics are out!

[superresistant]

WOW That alone would cover the hardware costs unless you are thinking about overtaking LTC community before asics are out!

Are you based in US ?
It is important to be able to buy the hardware at the lowest cost.
I just saw this thread for example they plan to buy directly from the manufacturer.

[jduartedj]

I'm in.

Be aware that the main factor for scrypt mining with GPU is the electricity cost. You must know perfectly how to setup the rig and optimise the ratio MH/S/Watt.
You must set the rig in a place with very low electricity cost and be able to do maintenance.

Power costs here are about 0.13€ kW.h meaning 1h of 1000W costs 0.13€ (I live in portugal)
I have experience in setting up machines like servers, gaming servers and workstations.
I have a storage room dedicated to server keeping at my house and also access to a data center facility (but that costs higher).

As for MH/s/W I haven't set on a Card choice, suggestions are accepted but I'll have to spend some time comparing specs.
Also need to find a robust motherboard that can hand as many cards as possible along with heavy cooling.

Are you based in US ?
It is important to be able to buy the hardware at the lowest cost.
I just saw this thread for example they plan to buy directly from the manufacturer.

Yes I had seen that post before. I''m based in Portugal (PT)

[superresistant]

Power costs here are about 0.13€ kW.h meaning 1h of 1000W costs 0.13€ (I live in portugal)

Not too bad but could be better.

I have experience in setting up machines like servers, gaming servers and workstations.
I have a storage room dedicated to server keeping at my house and also access to a data center facility (but that costs higher).

It is damn important to have a room dedicated, the heat and the noise are huge.

As for MH/s/W I haven't set on a Card choice, suggestions are accepted but I'll have to spend some time comparing specs.
Also need to find a robust motherboard that can hand as many cards as possible along with heavy cooling.

You have to set up a comparative sheet for the hardware you can buy from Portugal. If you buy from USA you'll have to pay huge tax.
You should list all the GPU from this list and see on different online shop the best price you find and calculate the MH/S/€ (or €/MH/S).

Nobody know this but you can plug a GPU on a PCIE 1X. That way you can find very cheap motherboard that can handle 5 GPU.

[jduartedj]

You have to set up a comparative sheet for the hardware you can buy from Portugal. If you buy from USA you'll have to pay huge tax.
...
Nobody know this but you can plug a GPU on a PCIE 1X. That way you can find very cheap motherboard that can handle 5 GPU.

I was actually already aware of that, I just wonder how many PCI slots can I find on a motherboard? I heard of one with 7 but don't know which it is.
I'll have to google around ask some shops and stuff.

I like to do the comparison within the group so that everyone is aware and agrees that this or that machine is the best for our purpose.

Also I might be able to order from any EU country since we don't pay import taxes for EU sales. (like ebay.uk or amazon.uk or even selected retailers)
Also Taxes might be worth it IF the value is low enough, say 300$ instead of 450$, we pay 23% tax, so 300*1.23 = 369$ which is less than 450$ each.

[pontiacg5]

Nobody know this but you can plug a GPU on a PCIE 1X. That way you can find very cheap motherboard that can handle 5 GPU.

I was actually already aware of that, I just wonder how many PCI slots can I find on a motherboard? I heard of one with 7 but don't know which it is.
I'll have to google around ask some shops and stuff.

I like to do the comparison within the group so that everyone is aware and agrees that this or that machine is the best for our purpose.

MSI z77-GD65 supposedly runs 7, but I have 6 working. MSI z77-GD45 will run 6, no more.

These group buys with people with no clue how to mine, or even buy hardware are reassuring.

[jduartedj]

These group buys with people with no clue how to mine, or even buy hardware are reassuring.

 

What do you mean? Hardware gets updated every day I would always try to find the best hardware at the time instead of just using my usual gear.
Besides there may be differing opinions, I prefer to handle decisions in a democratic way!

[superresistant]

Fuck the expensive 6-7 GPU. It doesn't work, it's not in stock and the prices are crazy.
Go for a cheap 5 GPU mother board. I used this one : ASROCK A55 DEL 45€ with a cheap CPU AMD A4 X2 3300 30€
See if you can buy them from your place.
You can fit 5 GPU like HD 7770. They are cheap right now, check the prices. I found some for 72€.

[jduartedj]

Fuck the expensive 6-7 GPU. It doesn't work, it's not in stock and the prices are crazy.
Go for a cheap 5 GPU mother board. I used this one : ASROCK A55 DEL 45€ with a cheap CPU AMD A4 X2 3300 30€
See if you can buy them from your place.
You can fit 5 GPU like HD 7770. They are cheap right now, check the prices. I found some for 72€.

That a very good course of action for the same price you can buy 2 cheap rigs that produce more, but what about the power cost? will it consume more power? If it does, is the increased cost worth the production increase?

Update

Here are a few local prices:

109€   VGA ASUS RADEON HD7770 1Gb DDR5 DVI DisplayPort - HD7770
218€   ASUS - R9270-DC2OC-2GD5 R9 270 2GB DDR5 DVI/HDMI

There are also some R9 that go as far as 600€

As for slot what about this? http://www.fullcompass.com/product/393427.html
pcie slot expansion?

Also found this locally:

181€ Asrock X79 Extreme4 (7x PCIe slots)

[superresistant]

That a very good course of action for the same price you can buy 2 cheap rigs that produce more, but what about the power cost? will it consume more power? If it does, is the increased cost worth the production increase?

The GPU consume most of the power so no diff.

109€   VGA ASUS RADEON HD7770 1Gb DDR5 DVI DisplayPort - HD7770
218€   ASUS - R9270-DC2OC-2GD5 R9 270 2GB DDR5 DVI/HDMI

HD7770 should be cheaper.
R9 270 is a HD7850. Way too expensive.

There are also some R9 that go as far as 600€

Too much.

As for slot what about this? http://www.fullcompass.com/product/393427.html
pcie slot expansion?

If you are limited to 5 or 6 GPU per motherboard, it won't work.

[jduartedj]

If you are limited to 5 or 6 GPU per motherboard, it won't work.

what do you mean? is there a hard limit or software limit?

[jduartedj]

Making a possible scenario at the previous post update 181 + 109*7 = 994€ for the core of the Rig, say added cooling, box, CPU, RAM, power supply might manage this rig at ~ 1500€ give or take.

as for hashing speed will be looking at 150 kh/s (up to 200kH/s) per card making this 1.05 Mh/s machine
with a power consumption of ~110W per card, thats 770 for cards only let say 1000w for the rig

My power value is 0.13 per kw.h so in 24h 0.13*24 = 3.12€/day ~93.6€ per month ~ 3 LTC

(correct me if I'm wrong here)
My hashrates revenue calculation atm gives a 0.0005 per 10kh/severy 15min so 0.002LTC/h *100 = 0.2LTC/h *24 = 4.8 LTC/day
that is about 144 LTC/month (5040$ atm),take the power ~140LTC taking the rig investment(~2000$) profit 2900$ first month running

Factors not considered here: difficulty increase, LTC value increase

do you agree with this scenario?

I can have the rig on-line next weekend supplier is stocked. Or even... more than 1. I can do 2 or 3 at the same time if there are funds for them.

[Ramhound]

jduartedj

Because of the realtive low cost of the rig.  You might want to come up with a way for people to invest.

For example break the $2000 cost into equal shares, offer them to the community, might consider a purchase limit because a single person can easily pay for it.

I am always looking to diversify my investment, even if its extremely small investments.  Have you ever ran a group buy before?