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Author Topic: Is it too late to mine BTC? (even with free electric)  (Read 1751 times)
ajent (OP)
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January 14, 2014, 01:16:49 AM
 #1

My job requires me to work on the road 100% of the time in hotels. Power is included in the monthly cost & many of my co-workers fill the buildings so the hotels won't question anything.

I'll be purchasing a new gaming unit soon, with AMD Radeon HD 8990 6GB GDDR5 - Dual GPU Card. I haven't seen what kind of numbers it could do for mining, but that would be a temporary thing.

If a good idea, then I would like to get some kind of thing like i've seen others on here have, multiple video cards, unless a full mining rig is more recommended. Would $3,000 be enough to get started with good mining numbers?

If i'm too late for bitcoin, would litecoin still be profitable to mine from a machine that would cost < $3000 & free power?

Thanks
meade16
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January 14, 2014, 01:25:07 AM
 #2

The HD 8990 is a rumour. If you get free leccy then by all means mine away. Mine the most profitable coin, trade it for Bitcoin or Litecoin, or try your hand on the exchanges buying and selling.
Kenshin
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January 14, 2014, 01:45:41 AM
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My job requires me to work on the road 100% of the time in hotels. Power is included in the monthly cost & many of my co-workers fill the buildings so the hotels won't question anything.

I'll be purchasing a new gaming unit soon, with AMD Radeon HD 8990 6GB GDDR5 - Dual GPU Card. I haven't seen what kind of numbers it could do for mining, but that would be a temporary thing.

If a good idea, then I would like to get some kind of thing like i've seen others on here have, multiple video cards, unless a full mining rig is more recommended. Would $3,000 be enough to get started with good mining numbers?

If i'm too late for bitcoin, would litecoin still be profitable to mine from a machine that would cost < $3000 & free power?

Thanks

Mine Dogecoin, then change it for BTC or LTC.
SpiryGolden
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January 14, 2014, 02:08:55 AM
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 Roll Eyes lol and where do you change doge on bitcoin when are no order on bitcoin for it ?  Huh
Kenshin
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January 14, 2014, 02:10:13 AM
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Roll Eyes lol and where do you change doge on bitcoin when are no order on bitcoin for it ?  Huh

Cryptsy, you can change Dogecoins to BTC or LTC.
_bitvic_
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January 14, 2014, 02:16:37 AM
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free electricity and the fact it will be a gaming rig means it won't hurt to mine. it just can't be losing
hyphymikey
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January 14, 2014, 02:22:26 AM
Last edit: January 14, 2014, 02:46:41 AM by hyphymikey
 #7

You have zero to lose if electricity is free. If you are buying the equipment either way then you are even luckier. That is the definition of free money lol.
Gingermod
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January 14, 2014, 02:25:31 AM
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Yes unless you get a sick GPU rig and mine on multipools to convert to BTC. Still not worth, good hobby though, I suppose.
TPN
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How did it get so late, so soon?


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January 14, 2014, 02:26:34 AM
 #9

Mining scryptcoins would be more profitable, so go for litecoin.
cheeseburger123
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January 14, 2014, 03:11:11 AM
 #10

last summer, my friends got their PCs innovated and bought extra equipment to mine BTC. And three big fans to cool room.They guess they can get investment back in few months. Now they can say WIN.
jonanon
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January 14, 2014, 03:12:58 AM
 #11

It's never too late although you would likely only mine tiny amounts.

I would mine an alt and convert  Smiley
SwagCoin
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January 14, 2014, 03:20:32 AM
 #12

Like many said..mine FOTM ALTCOIN.. Sell for bitcoin
soulcity
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January 14, 2014, 03:50:52 AM
 #13

It's never too late if the power is free.  Turn up the hotel air conditioner and go for it. 
poolers
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January 14, 2014, 05:41:44 AM
 #14

With just a GPU you are definitely better off mining in a scrypt altcoin pool.  Bitcoin difficulty is too high now for your gaming laptop.  Good luck!
Led
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January 14, 2014, 06:06:05 AM
Last edit: January 14, 2014, 09:41:46 AM by Led
 #15

Electricity costs don't figure into it anymore for ASIC miners for bitcoin. The electricity cost is negligible compared to the value of the bitcoin. The cost is in the up-front cost of the hardware to mine with.

For Litecoin and other scrypt coin and other altcoin, electricity costs may also often be dwarfed by the profits. You gotta do the calculations, and there are many fine websites for that. Coinwarz, coinchoose, wheretomine, etc.. Since you have "free" powar, you can enter $0.00 for your power cost.

If you are new to cryptocurrency, I suggest you ignore bitcoin and get into the altcoin markets. You generally do this by getting an inexpensive but relatively new computer with PCI-e slots, and then buy some sick video cards to hash with. I suggest the following cards:

RADEON 7990, 7950, 7970, 280x, 290, and possibly 290x. Check https://litecoin.info/Mining_hardware_comparison for more info.

There are also some new and interesting developments with CUDA miners for NVIDIA cards, but if you are a newbie I suggest you go with one or two of the RADEON cards and get the hang of it before you delve into the dark and fuzzy corners of the cryptocurrency underground.

With $3000, I would build a rig like this:
Three (3) 7990 from ShopBLT or TigerDirect or somewhere: ~$2000
ivy bridge motherboard + modest cpu (celeron G1610) + 16 gb RAM (4x4gb) + SSD: $120 + $42 + $158 + $80 = $400
A really crazy awesome power supply: $300 http://www.newegg.com/Product/Product.aspx?Item=N82E16817153155
You will need to piggyback an extra ~700 watt power supply for the 3rd card: $80
3x powered risers: $50
Milk crate case and box fan: $50
keyboard/mouse/cheap monitor = $100
good surge protector = $50
Linux Mint 13 LTS = $0
TOTAL COST = ~$3000.00
TOTAL KHASH = >4000

Note: If you want a more powerful CPU for the purposes of gaming, I suggest you go with AMD, not Intel. You do have a 3k budget, after all.    

Note: You may want to go with 4 to 6 of the cards listed below, instead of 3x 7990 cards. 5 cards should easily fit in a wide milk crate case:
6x 7950 >3500 khash  (7950s are the most energy efficient and easiest to manage heat) [but make sure your motherboard has 6 PCI-e slots]
5x 7970 >3500 khash
5x r9 280x >3500 khash
4x r9 290 >3200 khash
...depending on market conditions.
I suggest you not "mix and match" too much. It is OK to get 4x r9 280x and throw in 1 r9 270x, but I wouldn't include r9 cards with older 7xxx series cards in the same rig, or you're likely to run into driver troubles, especially if you are new to this.

If you don't want to go with a bulky milk crate (or otherwise custom roomy much airflow) case on the road, I suggest you buy 2 of these:
http://www.newegg.com/Product/Product.aspx?Item=N82E16814131543
along with the rest of the liquid cooling system, and be prepared to wait a while to see any profit. (~1800 khash)
ALTERNATIVELY, you can get 2x 7990 plus 2 water blocks, remove the original coolers, replace with water blocks and rest of the expensive liquid cooling system (LCS) and if you tweak the cards right you should be able to get 2800 khash/s out of the rig. All of this is possible for under $3000 if you aren't silly about your CPU and motherboard requirements. Maybe I'm being a little silly about the RAM requirement... you could probably get away with 8gb, I'm not sure. As for the $300 PSU, you can shop around and/or piggyback 2 power supplies on your main, and probably save some money up front, but talk to a pro and they'll probably recommend a very nice power supply like the one I linked.

I'M JUST A NOOB!

Cheers and happy trails!!!1
Led
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January 14, 2014, 07:18:21 AM
 #16

Also note: If the rumors are true and the 8990 is really a thing, you should know that the 8990 is a rebranded 7990. It will be slightly higher quality, but the exact same chipset, and you aren't likely to see much more hashpower (if any) out of it when compared to a 7990.

If you are on the road a lot, you definitely DO NOT want to buy a bitcoin ASIC. I mean sure, you can, but you'll want to leave it at home so it is plugged in 100% of the time and running, making bitcoin, 100% of the time. If the thing is not plugged in even 30% of the time, you are likely to lose your ass on the investment.

For whatever this gaming rig is you plan on buying, you should know that short of a liquid cooling solution, you'll need to open the side of the case and direct a fan at the card(s) or your shit will overheat and your khash will drop dramatically. Without liquid cooling, you'd have to have an insane case with insane airflow to avoid the open-case-and-bigass-fan solution.
zeraTunerse
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January 14, 2014, 09:06:12 AM
 #17

You have zero to lose if electricity is free. If you are buying the equipment either way then you are even luckier. That is the definition of free money lol.


But hopefully the OP has warranty for replace because from time to time the GPU stop working after mining extensively (or even running with bad miner settings)
medUSA
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January 14, 2014, 09:40:20 AM
 #18

If you are on the road all the time, your laptop and the work you do on it is important. I wouldn't mine on a laptop for work, cos mining shortens the life of a laptop so badly that it may stop working when you most needed it.

The coins you mine from your laptop is not worth the risk of losing a client.
ajent (OP)
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January 14, 2014, 12:49:27 PM
 #19

Unfortunately work is outside 100% of the time, no work done on the computers. I appreciate the replies this will definitely help.
BTC-Seller.com
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January 14, 2014, 01:30:06 PM
 #20

Why not, it's a great hobby and you will learn so much.   Nothing really to lose but will gain a lot of knowledge.  Then there's always the plus side that you could be mining an Alt coin that takes off Cheesy
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