newbie, not sure where to ask this

[blistactor]

hi guys, first off i apologize if i put this in the wrong place and would appreciate if a mod could move this. Basically i just learned of coin mining today, and mostly am looking for some good links.

I would like to start mining by purchasing a new gpu for my gaming pc and having it mine every night, just so i can see if this is profitable in anyway. Im not sure what gpu i should buy, i have a price range of max 500, but im looking for the most cost effective solution.

Ive heard that maybe gpu mining bitcoins isn't profitable as their are other specially made things meant for it? if not can anyone tell me what the most profitable or reliable currency is, thatd be great.

Overall, im sorry if this has been asked before, i had trouble finding good sources from a google search, so if someone wants to share with me some links, or point me toward another forum or thread, or even provide some personal insight, that would be greatly appreciated.

Anyways, thanks alot! have a great day!

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[RodeoX]

I have some bad news to give you. Well, not that bad.
The era of using your home PC for bitcoin mining has long passed. If your serious about profitable mining then you might want to spend $20K on a rig and move to a place with free electricity. It is a tough slog to mine coins.
If you want to do it anyway I would suggest looking into pool mining. Solo mining at home it might take a thousand years to produce 1BTC.

[blistactor]

ok, thanks, i realized that i would have to do pool mining, and apparently there are still people making some decent money mining at home on other currencies? i just thought id ask here just incase someone could point me towards the best way. i was told today that with a 3000 dollar rig at home you would be making 21 bucks a day

[3DX4D]

ok, thanks, i realized that i would have to do pool mining, and apparently there are still people making some decent money mining at home on other currencies? i just thought id ask here just incase someone could point me towards the best way. i was told today that with a 3000 dollar rig at home you would be making 21 bucks a day

Remember that is a best case scenario at current difficulty.  As diff goes up the amount of coins that machine will generate will go down.  Margins are pretty tight at best on most coins but don't ever mine BTC with GPU's unless you like loosing money.

[kthejung]

I suggest looking into the Antminer S1 by Bitmain.  You are going to have to do a lot of researching to even get started.  If you want to mine with a GPU, look into other cryptocoins like Dogecoin or Litecoin.  How fast you learn will depend on your own aptitude.  You could buy a cheap usb miner just for fun and learning purposes and get into serious mining next year...  By the way, if you are into mining solely to make money, you are better off just buying the coins and waiting for price to inflate.

[blistactor]

hi, do any of you guys actually make money mining alt coins? and if i bought lets say 20 bucks worth of bitcoins, the worth will forsure go up with current trends?

[kthejung]

hi, do any of you guys actually make money mining alt coins? and if i bought lets say 20 bucks worth of bitcoins, the worth will forsure go up with current trends?

everything about cryptocoins are risky.  They might all be worth nothing tomorrow so you are taking a gamble by investing money in them and you have to be willing to deal with the loss of your money if things go badly.  Having said the previous, I think that bitcoins are litecoins are definitely here too stay.  Dogecoin has done well but not sure about its future. 

[blistactor]

Ok, thanks for that, whats the best mining pool out their for gpu alt coin mining, thanks

[loewen.brad]

Ok, thanks for that, whats the best mining pool out their for gpu alt coin mining, thanks

that REALLY depends on what altcoin you want to mine. just about EVERY coin has at least one, if not multiple, pools to choose from. And with new altcoins being released quite literally on a daily basis, new pools are springing up every day as well. however, to simplify things a bit, you could check out coinex.pw. they are an exchange and mining pool all in one. they offer several options in the way of mining different coins. they have traditional pools that mine individual coins and they also offer two switchpools (sha-256 and scrypt) which automatically switch back and forth between coins to mine the coin which happens to be the most profitable at the moment. seeing as how you want to get into gpu mining, i would HIGHLY suggest choosing a scrypt based coin or the scrypt switchpool. sha-256 coins are just too fast and put too much wear and tear on your cards to mine efficiently with video cards. As for choosing a card to mine with, I would suggest purchasing an R9 280X. you can pick one up right now on amazon.com for around $300 (well within your price range). with one R9 280X, you will be able to pull somewhere in the range of 700-750 kh/s mining scrypt algorithm coins. and if you're willing to spend around $600 and buy two of them, you can be at over 1 mh/s. right now, those cards seem to be the best bang for the buck when it comes to gpus.

for a comparison of mining equipment, you can visit https://litecoin.info/Mining_hardware_comparison

there are currently several r9 280x's for sale on amazon.com. you can view a list of those here http://www.amazon.com/s/ref=nb_sb_ss_i_0_4?url=search-alias%3Daps&field-keywords=r9%20280x&sprefix=r9+2%2Caps%2C191
if you do decide to purchase one, i would suggest going with one made by MSI. they have extremely good cooling systems and are just overall well-built cards.
if you decide you want to build a dedicated mining rig, i suggest you also buy a good motherboard that's built for the task. the Asrock H81 is built specifically for mining purposes and is extremely cost effective at around $100 per unit. the H81 has space for 6 gpus to be installed. it has 1 main slot for a card to be mounted directly to the board and then 5 auxiliary slots for extra cards to be connected via PCI-e riser cables. you can view the listing for that motherboard here: http://www.amazon.com/ASRock-H81-BTC-Litecoin-motherboard/dp/B00HEUIS2G/ref=sr_1_5?ie=UTF8&qid=1394797815&sr=8-5&keywords=asrock

anyway, i hope all this info helps and doesn't overload you too much. good luck!

[blistactor]

wow, thanks alot for all that! great answer! im going to buy a single gtx 750 ti and start mining on that pool u gave me, do you think the single card will pay for itself? if?when it does ill build a rig with six of em! i just want to start with a low entry fee and see if it works...thanks alot

[emdje]

wow, thanks alot for all that! great answer! im going to buy a single gtx 750 ti and start mining on that pool u gave me, do you think the single card will pay for itself? if?when it does ill build a rig with six of em! i just want to start with a low entry fee and see if it works...thanks alot

Nvidea cards (CUDA) are not good to mine, get a AMD card (OPENGL).

[blistactor]

im sorry, now im confused, i was told by people that the 750 ti would get 300 kh and is very low wattage, is this not good for the price?

[sudoku]

Give it a shot and report back how it goes.  The 750 ti is new.  Many people do not have experience with it yet.