$5,000 budget

[Tekkit_kev]

Hello all, I am new to both the forums and mining.
Today I come to you with some questions regarding bit mining or altcoin mining.
Recently, I came across some spending money($5000) and am interested in mining, so I have some questions

1. Should I use a GPU mining set up or use ASIC?
2. Which would be the best graphics card or ASIC machine for mining?
3. Which OS would be the best to run on?
4. Should I use pci extensions to separate the cards for better heat dispersion?
5. How long would it take to make my investment back (Free power)
6. How long would the machine be good for at the rate difficultly is increasing?


Thank you for you time. Feel free to ask any questions if you need more information.

[1715021574]

1715021574

[1715021574]

1715021574

[1715021574]

1715021574

[FuriOus1]

Hello all, I am new to both the forums and mining.
Today I come to you with some questions regarding bit mining or altcoin mining.
Recently, I came across some spending money($5000) and am interested in mining, so I have some questions

1. Should I use a GPU mining set up or use ASIC?
2. Which would be the best graphics card or ASIC machine for mining?
3. Which OS would be the best to run on?
4. Should I use pci extensions to separate the cards for better heat dispersion?
5. How long would it take to make my investment back (Free power)
6. How long would the machine be good for at the rate difficultly is increasing?


Thank you for you time. Feel free to ask any questions if you need more information.

1. for Scrypt mining, you have to use GPU right now. For $5k you would be able to build an ~8mh/s rig. ASICs are not available yet for Scrypt.  For SHA-256 , you would be able to purchase an ASIC but the diff is skyrocketing, so its not as profitable as scrypt.
2. Best GPUs are AMD:  7950,  7970,  R9 280X  R9 290X. Search "Gpu mining comparison" in google and you will see.
3. OS is irrevelant, people say linux is better because it takes less operating power, but its maybe 2-3% imo
5. It's this kind of question no one will be able to answer for you. My guess with free power would be something around 2 months.
6. With the increasing difficulty, a $5k rig will work for long. Till the ASICs will take over I think you can show a nice profit for around a year.

Hope it helped

[mKYAELf]

it's enough

[Hypnoise]

buy btc, go and trade it on cryptotrader.org you may end up with a million of USD at the end of the year.
https://cryptotrader.org/topics/367450/best-strategy-for-2013-continued

[carolynwneal25]

is cryptotrader.org still work for trade bitcoin?

[jonanon]

Instead of mining I would recommend actually buying BTC or select alt currencies directly. Mining is becoming increasingly difficult and you're not guaranteed to get a return.

[jmiles337]

Instead of mining I would recommend actually buying BTC or select alt currencies directly. Mining is becoming increasingly difficult and you're not guaranteed to get a return.

i second this. unless you spend ~10 grand on a rig, mining is kinda tough to compare to just buying.

[Hypnoise]

is cryptotrader.org still work for trade bitcoin?

cryptotrader.org provide automated trading according to strategy you choose. It hosting your trading bots. You also will need accounts on those exchanges where you planing to trade: mtgox, btc-e, bitstamp.

[MaximilianCohen]

Like others have said, buy BTC, nest it through LTC, XPM, etc, and then close spreads (market making) to get 10% per trade, 1 trade every 2-3 hours (if you're paying attention) then multiply 5% for each nesting level. If you know what you're doing, you can quant trade altcoins short-term and get 30% per day pretty easily.

With $5000 you might incur slippage, especially on heavily divided currencies, so you could diversify and just run 5 $1000 campaigns.

[edutBTC]

5000$ 's a lot of money

[narengow]

Invest a part of your investment into buying newly mined highly promising coin at the earlier stage and cash in profit later. This is best when compared to mining. But might not always be the same at all time.

[ongaram]

It is best to buy alt coins at low price and sell at high price. Investing to rigs helps in the long run.

[nov]

Where or which exchanges do you recommend to trade, please?

Like others have said, buy BTC, nest it through LTC, XPM, etc, and then close spreads (market making) to get 10% per trade, 1 trade every 2-3 hours (if you're paying attention) then multiply 5% for each nesting level. If you know what you're doing, you can quant trade altcoins short-term and get 30% per day pretty easily.

With $5000 you might incur slippage, especially on heavily divided currencies, so you could diversify and just run 5 $1000 campaigns.

[Support1bbot]

Where or which exchanges do you recommend to trade, please?

Like others have said, buy BTC, nest it through LTC, XPM, etc, and then close spreads (market making) to get 10% per trade, 1 trade every 2-3 hours (if you're paying attention) then multiply 5% for each nesting level. If you know what you're doing, you can quant trade altcoins short-term and get 30% per day pretty easily.

With $5000 you might incur slippage, especially on heavily divided currencies, so you could diversify and just run 5 $1000 campaigns.

BTC-e.com a good exchange . with bot from 1bbot.com this is very porerfull profit

[dminer69]

how about you go 50-50, build a 2500 rig and 2500 to trade in a solid market. btce.com is great currently trading ltc and btc.

[manvasa]

You have very good investments. Very good questions.

My opinion is simple.

Invest a little by buying altcoins at low value and sell at high value.

[Wilhelm]

Scrypt mining will be profitable until Q3 2014 since scrypt ASICs will probably be launched.

Buying GPUs is always safe as long as gamers game.
Do be aware of the fact that fine-tuning a mining rig can take some fiddling and they make noise since you push them to the max.

[bryant.coleman]

You should seriously look in to buying used asics from sites such as Ebay. Difficulty and Hashrate is increasing every hour or so. So more delay means more monetary loss. 

[sulatri]

I prefer GPU mining while you start afresh. Learn about difficulty and practical technicalities on your own. Once you gather certain knowledge you can judge yourself.

[professorcrypto]

5000$ in Bitcoins. No muss no fuss. Considering that Fortress Investment is going to launch a new BTC fund in 2014 you have a good chance to double that amount in a few months. My 2 cents.