Should I return my mining hardware?

[Lucky Cris]

Just before the price of bitcoins skyrocketed, like a jackass, I sold my block erupters. Desperate to get back into mining but unable to afford the latest and greatest ASIIC device to make mining BTC worth while, I decided to mine LTC using GPUs. At today's rate I'd be looking at around 70 USD a day, after electrical costs. Not bad, you say. But there's a problem.

Before I even bought the hardware to set up two 5 GPU mining rigs, I asked a friend if he'd help me get the mobos and PSUs. He agreed and to my surprise, he later told me he'd completely cover the costs, which I didn't even ask for. After consulting with a few brilliant minds in the forum, I went ahead and bought the following:

• 10 3GB AMD Radeon HD 7950s
• 8 GB SDRAM
• 2 Intel I3 Dual Core processors
• 2 500GB SATA hard-drives
• 2 wireless adapters

What's the problem? Well, this asshole changed his mind. Actually, he flat out lied to me and said that he never said that! Now why and the hell would I spend over 4K getting enough gear to set up two rigs, when I could've just bought the materials to set up 1 myself? And because of his lie I spent more on Xmas gifts (don't regret of course) and hit a few casinos this month (totally regret). But yeah, I'm pretty pissed about it. I see now why I was his only friend; no lie.

So needless to say, I have all this crap still boxed up (okay, I couldn't help myself - I had to take a peek), but no mobos and PSUs, and no free income any time soon to get them.

What would you do?... Would you stand fast hoping 1200 bucks fall in your lap? Or would you throw in the towel and send it back? I'm undecided as to whether I should return some of it so I can set up one board, caveat being the cost of mining equipment isn't getting any cheaper.

Anything thoughts you have that may help aid my decision, please share. Thanks!

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[Scyntech]

If you can get your money back, I say go for it. If not, then bite the bullet and get to mining altcoins.

I would go ahead and finish the rig(s) and get them working. We really don't know whats going to happen with Cryptocurrency.

[Lucky Cris]

If you can get your money back, I say go for it. If not, then bite the bullet and get to mining altcoins.

I would go ahead and finish the rig(s) and get them working. We really don't know whats going to happen with Cryptocurrency.

Yes, I have a couple weeks left to get a refund. Thing is, I really want to build my rigs but I have no bullet to bite, lol.

Thanks for your response. I know it was a lot to read.

[railzand]

What a nice hardware problem to have. Sorry about your friend.

I say borrow the money from someone on here. Video the existing gear for use as collateral.

[empoweoqwj]

Keep going. altcoins could go anywhere.

but what a weird friend. firstly for saying he would pay for the stuff, and then backing out. with friends like that .....

[Lucky Cris]

What a nice hardware problem to have. Sorry about your friend.

I say borrow the money from someone on here. Video the existing gear for use as collateral.

I actually thought about that but after reading some of the responses others who tried received... don't think so.

[Lucky Cris]

Keep going. altcoins could go anywhere.

but what a weird friend. firstly for saying he would pay for the stuff, and then backing out. with friends like that .....

Tell me about it! And it wasn't the first time either. But this I really had my heart set on, and there's no forgiving it. I was so freakin' angry I wanted to blast his face with and attach ugly comments all over the internet. Hell, I'm still angry enough to do it - but that shit might come back to haunt me! He got the picture when I stopped calling. Yet I was still kind enough to send him an email on Xmas. Asshole.

[empoweoqwj]

Keep going. altcoins could go anywhere.

but what a weird friend. firstly for saying he would pay for the stuff, and then backing out. with friends like that .....

Tell me about it! And it wasn't the first time either. But this I really had my heart set on, and there's no forgiving it. I was so freakin' angry I wanted to blast his face with and attach ugly comments all over the internet. Hell, I'm still angry enough to do it - but that shit might come back to haunt me! He got the picture when I stopped calling. Yet I was still kind enough to send him an email on Xmas. Asshole.

You seem very conflicted over this friend. But that's one for the psychoanalyists ......... make it a new year's resolution to "move on" and never contact them again.

[Lucky Cris]

You seem very conflicted over this friend. But that's one for the psychoanalyists ......... make it a new year's resolution to "move on" and never contact them again.

I think it's more or less because we've been friends almost 10 years and this is a somewhat petty excuse to end our friendship. I mean, was it really only worth that little amount? Of course not... but I've come to realize that it's the times I needed him the most, he's never there. Great advice, btw!

[Unacceptable]

I used cheap AMD dual core CPU's,45 watts & 1 gig of ram & the cheapest mobo's ($50 each) I could find for my mining rigs in 2011.Still got em,but they're running ASIC's now  

You'll need better mobo's than I used,to run at least 3-4 cards each  

Not to mention PSU's............

I'd get the parts you need a little at a time to get up & running & use those earnings to fund the purchase of the rest  

1 PCIE 16x & 1 PCIE 4x slots & 2 PCIE 1x=4 cards using risers:$70:
http://www.newegg.com/Product/Product.aspx?Item=N82E16813130679

http://www.msi.com/product/mb/970A-G43.html

http://www.msi.com/product/mb/970A-G43.html#/?div=CPUSupport

AMD single core CPU: $43:
http://www.newegg.com/Product/Product.aspx?Item=N82E16819103888

No MSI vendor RAM list  Well,this may work...........
RAM:$22
http://www.newegg.com/Product/Product.aspx?Item=N82E16820146742

As for PSU,you figure what you'll need for 3-4 cards,maybe $75-100

$135 add PSU of $100=$235,plus risers say another $30,so $265 to get one 3-4 card rig running  

I'm sure you got old HDD laying around

Good luck!!!!!!!!

[Lucky Cris]

1 PCIE 16x & 1 PCIE 4x slots & 2 PCIE 1x=4 cards using risers:$70:
http://www.newegg.com/Product/Product.aspx?Item=N82E16813130679

These I might be able to make happen! Here's what I wanted: http://www.amazon.com/MSI-Motherboard-Motherboards-Z87-G45-GAMING/dp/B00D12OBEU/ref=pd_sim_e_57  

AMD single core CPU: $43:
http://www.newegg.com/Product/Product.aspx?Item=N82E16819103888

Looks like I can definitely return those I3s I paid $160 each for! Couldn't use this with the mobo I wanted.

As for PSU,you figure what you'll need for 3-4 cards,maybe $75-100
$135 add PSU of $100=$235,plus risers say another $30,so $265 to get one 3-4 card rig running 

I'll need 2 850w PSUs per rig if I try to use all 10 cards, but I suppose I won't need that much power if I only run 4 cards. Based on reviews/cost, here's what I was hoping to get: http://www.amazon.com/Corsair-Enthusiast-Certified-Compatible-platforms/dp/B004MYFODS/ref=pd_sim_pc_14  Any suggestions on something cheaper?

I'm sure you got old HDD laying around

Hell nah! I'm not a techie like most of you guys! lol

Good luck!!!!!!!!

Thanks!!!!

[empoweoqwj]

You seem very conflicted over this friend. But that's one for the psychoanalyists ......... make it a new year's resolution to "move on" and never contact them again.

I think it's more or less because we've been friends almost 10 years and this is a somewhat petty excuse to end our friendship. I mean, was it really only worth that little amount? Of course not... but I've come to realize that it's the times I needed him the most, he's never there. Great advice, btw!

Glad to be of very "amateur" assistance. Keep going with the altcoins. If bitcoin resumes its upturn as I expect early in 2014, the altcoins will be dragged along. Profits to be made

[Unacceptable]

1 PCIE 16x & 1 PCIE 4x slots & 2 PCIE 1x=4 cards using risers:$70:
http://www.newegg.com/Product/Product.aspx?Item=N82E16813130679

These I might be able to make happen! Here's what I wanted: http://www.amazon.com/MSI-Motherboard-Motherboards-Z87-G45-GAMING/dp/B00D12OBEU/ref=pd_sim_e_57  

AMD single core CPU: $43:
http://www.newegg.com/Product/Product.aspx?Item=N82E16819103888

Looks like I can definitely return those I3s I paid $160 each for! Couldn't use this with the mobo I wanted.

As for PSU,you figure what you'll need for 3-4 cards,maybe $75-100
$135 add PSU of $100=$235,plus risers say another $30,so $265 to get one 3-4 card rig running  

I'll need 2 850w PSUs per rig if I try to use all 10 cards, but I suppose I won't need that much power if I only run 4 cards. Based on reviews/cost, here's what I was hoping to get: http://www.amazon.com/Corsair-Enthusiast-Certified-Compatible-platforms/dp/B004MYFODS/ref=pd_sim_pc_14  Any suggestions on something cheaper?

I'm sure you got old HDD laying around

Hell nah! I'm not a techie like most of you guys! lol

Good luck!!!!!!!!

Thanks!!!!

That mobo is nice,but way too much.Your using it to mine,not super high end benchmark with LN2    

I'm a gamer (BF4) & I stay clear of very high end boards,I go mediocre on the board & spend the savings on a GPU,or 2 & CPU  

My old miner rigs will go to single parents who need a PC for their kids in few months,when my Blackarrows arrive......March/April..... maybe  

Here ya go,good reviews too...$80

http://www.newegg.com/Product/Product.aspx?Item=N82E16817152043

Go to a PC repair shop & ask for an old HDD.I get em for about $20 for a 40-80 gig    Hell,you might get lucky & they got fans & a case or some other stuff you need  

BTW...."Gambling is bad...mkay " 

[Digigami]

I'd just sell or return enough GPU's so you can get everything together and have 1 rig running as planned. Then, either as you earn from mining or save from your usual income sources eventually you can re buy and build rig #2.

[repairguy]

I would send the i3 processors back.  $1200 is pretty high for mobos and power supplies.

[Lucky Cris]

Glad to be of very "amateur" assistance. Keep going with the altcoins. If bitcoin resumes its upturn as I expect early in 2014, the altcoins will be dragged along. Profits to be made

No doubt! I just found the same PSUs and mobo on new egg, cutting over $250 off Amazon's prices. And with another $60 in rebates. Well, I'll be damned! Originally when I looked, they weren't in stock and I didn't even think to look back until Unacceptable posted those links. Two one tracked mined thinking about it, I suppose.

Unacceptable, if I scrap up enough to build my rig, I'll share my first day's mining bounty with you

[repairguy]

I would send back the hard drives also. I have a whole stack of 40gb sata you can have two if you pay to ship them.

 I also can't help but notice you have almost 4k worth of stuff for mining altcoin, because you said you couldn't afford asic, however the latest round of antminers are 2500

[Lucky Cris]

I would send the i3 processors back.  $1200 is pretty high for mobos and power supplies.

So I've found out. I found the same mobo and PSUs on newegg for $785 versus Amazon's $1,040. And looking at mining rig pics on this forum, I see that some people have box fans cooling theirs, so I'm not going to invest in the computer fans, although I think they look cool as hell. I'm still researching cheaper risers. But so far, I'm totally excited how this price is dropping!

[Lucky Cris]

I would send back the hard drives also. I have a whole stack of 40gb sata you can have two if you pay to ship them.

Holy smokes! Are you serious? Are those large enough to run Windows 8, though? Again, not that much of techie, but I'm learning!

[repairguy]

I would send back the hard drives also. I have a whole stack of 40gb sata you can have two if you pay to ship them.

Holy smokes! Are you serious? Are those large enough to run Windows 8, though? Again, not that much of techie, but I'm learning!

Yes it is big enough to run windows 8. 64bit windows 8 only requires 20gb.  I am also curious why you are using windows 8?  Is that better with the 7950's?