Help me select hardware-- asic or scrypt or both?????

[hunainshahzad]

Hello fellow miners

I am a complete newbie in this field who is trying his luck
Please i want you people to guide me on the hardware.

I have a budget of around $1500. I know bitcoin mining is not profitable anymore as the difficulty have risen up it is impossible to get a postive ROI.
So with which coins should i start sha256 or scrypt?
Remember that i have a budget of $1500. In my country i can create a rig with 3 hd7950s for that amount. On contrary my friend is giving me 120ghs miner for $600

So with what piece of hard should i start?
3x Hd 7950 ~ $1400-1500 -- only scrypt mining
2x 120ghs Asic Miner ~ $1200 -- only sha256 mining
1x 120ghs Asic miner & 2x hd 7950 ~ $1500-1600 -- combined mining

Which setup will give me the maximum yield?
Plus i want to know what is more profitable? Alt scrypt mining or alt sha256 mining? Coin warz always show me that sha256 is always profitable using above hardware whereas coinchoose show that scrypt coins like doge etc has 4000% profitability of bitcoin and sha256 coins are at the bottom of the list. Please help me guys as i want to finalise hardware in this week.

[hunainshahzad]

Bumppp.... Guys a little help would be appreciated

[Lucky Cris]

No one can answer this question for you... It looks like you're going in the right direction by checking with CoinWarz and such. Ultimately it depends on which coins YOU want to mine.

[hunainshahzad]

ok i just want to know generally what coins are more profitable, scrypt based or sha256 based coins? Because coinwarz and coinchoose are contradicting eachother. Coinwarz says sha256 coins are more profitable whereas coinchoose says scrypt coins are more profitable.

And which hardware combination do i choose? Because hardware is most important

[vpasic]

you can't do much wit $1500 budget.
gpu mining is not holding very well lately.
gpu-s are expensive, power consumption is high and the ROI is impossible.
scrypt asic are almost behind the corner so gpu-s are going in to trash. if you think you can sell your gpu-s after you finish mining and return some of your investment think again because you wan't be only one to sell them.
if you thing that people will made up some XY coin wit XY encryption and give gpu-s some more life time then buy them.
my suggestion, buy BTC and sit on it!
about asic miners? there is nothing worth of buying right now.
not even x3 prospero or knc Neptune. by the time you got them diff will be enormous.
save some more money and wait for the next generation miners (5-7TH) and be fast on purchase.
 

[chup]

scrypt.
I'm still on 0  because I'm spending on bitcoin miners what I earn on GPUs. 

[hunainshahzad]

I think there is still time for scrypt asics to come to market so there is still a chance to enter and earn and sell the hardware till june 2014 and after that invest in scrypt asics

[vpasic]

good luck with that.
even if you have free electricity you can't make ROI till July.
you think you'll be only one stop mining with gpu-s and selling them???
there will be thousands of gpu-s for sale all over the internet.
it will be easier to win lottery than to sell them.
not good idea bro!

[Lucky Cris]

ROI is impossible.

And where did you get this information?? So not true, it depends on what you're mining. I'm building a 15 card rig and expect to receive ROI within two months. And this isn't calculating resale of my GPUs. Of course this bigger investment gets me more hash power, but to say ROI is impossible is absurd. If OP manages his portfolio right, ROI can be realized. Personally I'll be mining scrypt but that's because scrypt coins is more profitable for me.

OP, be diligent in your research and make an informed decision. Don't just take any one post as the gospel, especially if here isn't any first hand experience to back up a claim. That includes my post too.

Good luck, and keep us informed on what you decide

[darkphantom934]

you can't do much wit $1500 budget.
gpu mining is not holding very well lately.
gpu-s are expensive, power consumption is high and the ROI is impossible.
scrypt asic are almost behind the corner so gpu-s are going in to trash. if you think you can sell your gpu-s after you finish mining and return some of your investment think again because you wan't be only one to sell them.
if you thing that people will made up some XY coin wit XY encryption and give gpu-s some more life time then buy them.
my suggestion, buy BTC and sit on it!
about asic miners? there is nothing worth of buying right now.
not even x3 prospero or knc Neptune. by the time you got them diff will be enormous.
save some more money and wait for the next generation miners (5-7TH) and be fast on purchase.
 

I am currently mining Dogecoins and have made $800 after 1 month of mining. My initial startup costs were $1300, and I bought the GPU's for $309 each (3 R9 280x's). I could resell the GPU's for $1100 and make $600 profit. Please be more informed before posting these things....

[Lucky Cris]

you can't do much wit $1500 budget.
gpu mining is not holding very well lately.
gpu-s are expensive, power consumption is high and the ROI is impossible.
scrypt asic are almost behind the corner so gpu-s are going in to trash. if you think you can sell your gpu-s after you finish mining and return some of your investment think again because you wan't be only one to sell them.
if you thing that people will made up some XY coin wit XY encryption and give gpu-s some more life time then buy them.
my suggestion, buy BTC and sit on it!
about asic miners? there is nothing worth of buying right now.
not even x3 prospero or knc Neptune. by the time you got them diff will be enormous.
save some more money and wait for the next generation miners (5-7TH) and be fast on purchase.
 

I am currently mining Dogecoins and have made $800 after 1 month of mining. My initial startup costs were $1300, and I bought the GPU's for $309 each (3 R9 280x's). I could resell the GPU's for $1100 and make $600 profit. Please be more informed before posting these things....

Well said! I guess we all just have to filter through the trash to get the information we're looking for.

[vpasic]

you can't do much wit $1500 budget.
gpu mining is not holding very well lately.
gpu-s are expensive, power consumption is high and the ROI is impossible.
scrypt asic are almost behind the corner so gpu-s are going in to trash. if you think you can sell your gpu-s after you finish mining and return some of your investment think again because you wan't be only one to sell them.
if you thing that people will made up some XY coin wit XY encryption and give gpu-s some more life time then buy them.
my suggestion, buy BTC and sit on it!
about asic miners? there is nothing worth of buying right now.
not even x3 prospero or knc Neptune. by the time you got them diff will be enormous.
save some more money and wait for the next generation miners (5-7TH) and be fast on purchase.
 

I am currently mining Dogecoins and have made $800 after 1 month of mining. My initial startup costs were $1300, and I bought the GPU's for $309 each (3 R9 280x's). I could resell the GPU's for $1100 and make $600 profit. Please be more informed before posting these things....

Well said! I guess we all just have to filter through the trash to get the information we're looking for.

there is no way you earn $800 in one month with electricity cost calculated!
even if you have it for free it doesn't mean everybody have it for free!
dogecoin dropped down 50% in value since yesterday. good luck with that.

Lucky Cris, keep digging!

[Lucky Cris]

there is no way you earn $800 in one month with electricity cost calculated!
even if you have it for free it doesn't mean everybody have it for free!
dogecoin dropped down 50% in value since yesterday. good luck with that.

Lucky Cris, keep digging!

Given the price spike in Doge, I wouldn't doubt darkphantom's claim. He owes a GPU rig, is actively mining... Do you have first hand knowledge, you're making an assumption based on what? And so what if Doge deceased in value? That's the risk all miners take. Even people who buy and sit on coins, for that matter! Wow. You debunked your own suggestion, lol.

And great advice, I most certainly will I never stop digging

[raskul]

i've taken a few weeks to rig up to where I am now.. I've spent around $1500 in total, and my total GH/s is now 140GH/s. I am merge mining on bitparking for bitcoins, namecoins and devcoins.

if you look around for bargains, nothing is impossible. best luck.

[complang]

600 for 120Gh/s is a good price! (Almost no risk imo).
I'd personally go for 2x7950 and that 120Gh/s. You can always buy another card when you got money in a month or two

[FlyForFun]

Hello fellow miners

I am a complete newbie in this field who is trying his luck
Please i want you people to guide me on the hardware.

I have a budget of around $1500. I know bitcoin mining is not profitable anymore as the difficulty have risen up it is impossible to get a postive ROI.
So with which coins should i start sha256 or scrypt?
Remember that i have a budget of $1500. In my country i can create a rig with 3 hd7950s for that amount. On contrary my friend is giving me 120ghs miner for $600

So with what piece of hard should i start?
3x Hd 7950 ~ $1400-1500 -- only scrypt mining
2x 120ghs Asic Miner ~ $1200 -- only sha256 mining
1x 120ghs Asic miner & 2x hd 7950 ~ $1500-1600 -- combined mining

Which setup will give me the maximum yield?
Plus i want to know what is more profitable? Alt scrypt mining or alt sha256 mining? Coin warz always show me that sha256 is always profitable using above hardware whereas coinchoose show that scrypt coins like doge etc has 4000% profitability of bitcoin and sha256 coins are at the bottom of the list. Please help me guys as i want to finalise hardware in this week.

Although scrypt is your best bet but ASICs is coming out for scrypt. So be prepared for insane difficulty increment.

[darkphantom934]

there is no way you earn $800 in one month with electricity cost calculated!
even if you have it for free it doesn't mean everybody have it for free!
dogecoin dropped down 50% in value since yesterday. good luck with that.

Lucky Cris, keep digging!

Given the price spike in Doge, I wouldn't doubt darkphantom's claim. He owes a GPU rig, is actively mining... Do you have first hand knowledge, you're making an assumption based on what? And so what if Doge deceased in value? That's the risk all miners take. Even people who buy and sit on coins, for that matter! Wow. You debunked your own suggestion, lol.

And great advice, I most certainly will I never stop digging

This.

[darkphantom934]

you can't do much wit $1500 budget.
gpu mining is not holding very well lately.
gpu-s are expensive, power consumption is high and the ROI is impossible.
scrypt asic are almost behind the corner so gpu-s are going in to trash. if you think you can sell your gpu-s after you finish mining and return some of your investment think again because you wan't be only one to sell them.
if you thing that people will made up some XY coin wit XY encryption and give gpu-s some more life time then buy them.
my suggestion, buy BTC and sit on it!
about asic miners? there is nothing worth of buying right now.
not even x3 prospero or knc Neptune. by the time you got them diff will be enormous.
save some more money and wait for the next generation miners (5-7TH) and be fast on purchase.
 

I am currently mining Dogecoins and have made $800 after 1 month of mining. My initial startup costs were $1300, and I bought the GPU's for $309 each (3 R9 280x's). I could resell the GPU's for $1100 and make $600 profit. Please be more informed before posting these things....

Well said! I guess we all just have to filter through the trash to get the information we're looking for.

there is no way you earn $800 in one month with electricity cost calculated!
even if you have it for free it doesn't mean everybody have it for free!
dogecoin dropped down 50% in value since yesterday. good luck with that.

Lucky Cris, keep digging!

You're right. I actually "earned" $900, but with electricity deducted, I made (profit) $800. 

[complang]

I'd say LTC is here to stay as well as the first scrypt currency. If BTC stays LTC will stay.
I still think you should go with 1*120Gh/s SHA and 1200kh/s scrypt!