I have $6000 to start mining, what should I buy?

[cabezonni]

Hi there! My name is Agustín and I'm from Argentina. I've been interested in crypto for a couple of years now, but now with a couple of friends we decided to invest in mining.

We live in Argentina where electricity fees are very low. Our first choice is to put together a GPU rig to mine ETH and then reinvest our earnigs (I expect to be in 12 months max) in a good ASIC for mining BTC.

But of course, I'm writing this to ask help to the experts. What would you recommend me? Thank you so much in advance!

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[Xazax310]

Invest in DeFI, Or literally any good project. You'll never make your 6K back in time if you're just starting now. GPU, PSU, and other Hardware prices are through the roof. During Bullmarkets you DO NOT BUILD mining rigs. You buy the coin which will make you'll more money in a month than a mining rig will paying itself back. That's my personal opinion. I'm a big miner, but I started during the first bullmarket in 2017 and never stopped even during the bear market of 2018-20.

With ETH finally getting Phase 0 and moving to phase 1.5 in 2021/22 Personally the mining game's over now. On top of that ASIC on ETH that are insanely powerful are coming online this year.

[Ceyflix-Rez]

Is the money yours or your friends? Pls don't contribute money to buy miners and split money among yourselves, it's a stupid and unsafe idea, friends get greedy overtime and moreover it's lot safer if you mine coins in your garage without outsiders knowing what going on inside

[Phoenix_PROG]

Invest in DeFI, Or literally any good project. You'll never make your 6K back in time if you're just starting now. GPU, PSU, and other Hardware prices are through the roof. During Bullmarkets you DO NOT BUILD mining rigs. You buy the coin which will make you'll more money in a month than a mining rig will paying itself back. That's my personal opinion. I'm a big miner, but I started during the first bullmarket in 2017 and never stopped even during the bear market of 2018-20.

With ETH finally getting Phase 0 and moving to phase 1.5 in 2021/22 Personally the mining game's over now. On top of that ASIC on ETH that are insanely powerful are coming online this year.

Here we are again, people are packing 40 pieces of graphic cards right in front of me in a store to mine Ethereum and you are here saying you can't make your ROI back? It only takes 4 month to get ROI back on a single gtx1660 super today, since you said you build your rig in 2017? Good, my question is did you make back your ROI or NoT?

[Furryball]

Let's not discourage OP, there are many reasons why one would want to build a mining rig today, you should have asked if he can endure and continue mining even if bears strikes unexpectedly, if one can't get ROI back in few months they can in one and half years

[philipma1957]

Hi there! My name is Agustín and I'm from Argentina. I've been interested in crypto for a couple of years now, but now with a couple of friends we decided to invest in mining.

We live in Argentina where electricity fees are very low. Our first choice is to put together a GPU rig to mine ETH and then reinvest our earnigs (I expect to be in 12 months max) in a good ASIC for mining BTC.

But of course, I'm writing this to ask help to the experts. What would you recommend me? Thank you so much in advance!

Okay lets go slow and easy.

1)what is your power cost?

10 cents full cost for a k-watt? = too high
 6-9 cents full cost for a k-watt? = meh okay not terrible
4-5 cents full cost = good
2-3 cents = you will make money very good.

2) how much cheap power do you have? a single 30 amp 240 volt circuit is more than enough for a 6k investment.

3) room size.

4) noise tolerance.

let us know the things I asked.

People here on BTC  Talk can be liars and bad. Many will try to hurt new miners as they see them as competition.

I say if the new guy is polite and sincere lets help him.

https://bitcointalk.org/index.php?action=trust;u=64507 

this is my trust page my trust page is one of the best ones on BTC as I effort to make profits for all in any country as long as the people act fairly decent.

Read trust pages for people talking to you. It can help you somewhat.

[Bitbtc8]

Invest in DeFI, Or literally any good project. You'll never make your 6K back in time if you're just starting now. GPU, PSU, and other Hardware prices are through the roof. During Bullmarkets you DO NOT BUILD mining rigs. You buy the coin which will make you'll more money in a month than a mining rig will paying itself back. That's my personal opinion. I'm a big miner, but I started during the first bullmarket in 2017 and never stopped even during the bear market of 2018-20.

With ETH finally getting Phase 0 and moving to phase 1.5 in 2021/22 Personally the mining game's over now. On top of that ASIC on ETH that are insanely powerful are coming online this year.

I regretted not building a good mining rig in 2017 even after bear market started, I knew someone who build is at the time and he kept gathering the Ethereum in his wallet, today he is a big boss in mining and he owns many more rigs now, the fact is continue mining even in bear season because no season lasts forever

[philipma1957]

Invest in DeFI, Or literally any good project. You'll never make your 6K back in time if you're just starting now. GPU, PSU, and other Hardware prices are through the roof. During Bullmarkets you DO NOT BUILD mining rigs. You buy the coin which will make you'll more money in a month than a mining rig will paying itself back. That's my personal opinion. I'm a big miner, but I started during the first bullmarket in 2017 and never stopped even during the bear market of 2018-20.

With ETH finally getting Phase 0 and moving to phase 1.5 in 2021/22 Personally the mining game's over now. On top of that ASIC on ETH that are insanely powerful are coming online this year.

I regretted not building a good mining rig in 2017 even after bear market started, I knew someone who build is at the time and he kept gathering the Ethereum in his wallet, today he is a big boss in mining and he owns many more rigs now, the fact is continue mining even in bear season because no season lasts forever

@ op this is solid advice mining coins is like the tide it comes in and goes out.

[PerfectCircle]

Invest in DeFI, Or literally any good project. You'll never make your 6K back in time if you're just starting now. GPU, PSU, and other Hardware prices are through the roof. During Bullmarkets you DO NOT BUILD mining rigs. You buy the coin which will make you'll more money in a month than a mining rig will paying itself back. That's my personal opinion. I'm a big miner, but I started during the first bullmarket in 2017 and never stopped even during the bear market of 2018-20.

With ETH finally getting Phase 0 and moving to phase 1.5 in 2021/22 Personally the mining game's over now. On top of that ASIC on ETH that are insanely powerful are coming online this year.

I regretted not building a good mining rig in 2017 even after bear market started, I knew someone who build is at the time and he kept gathering the Ethereum in his wallet, today he is a big boss in mining and he owns many more rigs now, the fact is continue mining even in bear season because no season lasts forever

So true, it's another way of holding coins, just make sure you mine the best coins and hold them if there is bear market, they will eventually turn gold some day, I've been mislead for many years too, when I saw 10$ profits from mining turned to 2$ I started using them to laugh but I was the one who don't understand

[jessyj48]

Invest in DeFI, Or literally any good project. You'll never make your 6K back in time if you're just starting now. GPU, PSU, and other Hardware prices are through the roof. During Bullmarkets you DO NOT BUILD mining rigs. You buy the coin which will make you'll more money in a month than a mining rig will paying itself back. That's my personal opinion. I'm a big miner, but I started during the first bullmarket in 2017 and never stopped even during the bear market of 2018-20.

With ETH finally getting Phase 0 and moving to phase 1.5 in 2021/22 Personally the mining game's over now. On top of that ASIC on ETH that are insanely powerful are coming online this year.

I mine coins for profits and for the fun of it, now it's more than a hobby, it's still a good time to buy graphics card and mine if you can get at fair enough price target, my own target is 100 days of mining at this profit season and if bear market comes after I know that have already make back most of my invested cash back, the rest will be on fun mode hehehe

[Xazax310]

Invest in DeFI, Or literally any good project. You'll never make your 6K back in time if you're just starting now. GPU, PSU, and other Hardware prices are through the roof. During Bullmarkets you DO NOT BUILD mining rigs. You buy the coin which will make you'll more money in a month than a mining rig will paying itself back. That's my personal opinion. I'm a big miner, but I started during the first bullmarket in 2017 and never stopped even during the bear market of 2018-20.

With ETH finally getting Phase 0 and moving to phase 1.5 in 2021/22 Personally the mining game's over now. On top of that ASIC on ETH that are insanely powerful are coming online this year.

Here we are again, people are packing 40 pieces of graphic cards right in front of me in a store to mine Ethereum and you are here saying you can't make your ROI back? It only takes 4 month to get ROI back on a single gtx1660 super today, since you said you build your rig in 2017? Good, my question is did you make back your ROI or NoT?

Here we are again. People thinking of buying over-inflated priced GPUs like the 1660s when ETH POS was initially launched last year with a full move away from PoW thinking they'll make all their money back GPU-mining. I'm going to put this super easy.

$400, 1660 SUPER(MSRP was 230~)( plus you can't even buy these anymore there not in production). Will make about $1 - $1.50~ a day(accounting for a full system setup at 200w with a single 1660s@30mh/s, 2.5 ETH BR). That's a 400 day ROI. We're in a Bullmarket, Bull markets don't last. This is the third Crypto bull market I've been in. If you/he puts that in a good project he'll easily make $100-200 in just a couple of months.

Did I ROI?

Yes, and well beyond it now. However, As I said I mined during the bear market and suffered a lot of set-backs and pain. The Black-swan flash crash of 2018 and then in 2020 basically wiped me TWICE. In 2020 I just about gave up on everything but I worked at my normal job and held, kept mining. Last year I purchase 588's for around $65 a piece on Auction from liquated mining farms.

So my question WHAT ARE YOU going to do when your mining AT A LOSS because a 'flash-crash' or markets tanks for sometimes months on end? I saw it at the end of 2018. I'll probably see it again at the end of 2021.

[Bitbtc8]

Invest in DeFI, Or literally any good project. You'll never make your 6K back in time if you're just starting now. GPU, PSU, and other Hardware prices are through the roof. During Bullmarkets you DO NOT BUILD mining rigs. You buy the coin which will make you'll more money in a month than a mining rig will paying itself back. That's my personal opinion. I'm a big miner, but I started during the first bullmarket in 2017 and never stopped even during the bear market of 2018-20.

With ETH finally getting Phase 0 and moving to phase 1.5 in 2021/22 Personally the mining game's over now. On top of that ASIC on ETH that are insanely powerful are coming online this year.

Here we are again, people are packing 40 pieces of graphic cards right in front of me in a store to mine Ethereum and you are here saying you can't make your ROI back? It only takes 4 month to get ROI back on a single gtx1660 super today, since you said you build your rig in 2017? Good, my question is did you make back your ROI or NoT?

Here we are again. People thinking of buying over-inflated priced GPUs like the 1660s when ETH POS was initially launched last year with a full move away from PoW thinking they'll make all their money back GPU-mining. I'm going to put this super easy.

$400, 1660 SUPER(MSRP was 230~)( plus you can't even buy these anymore there not in production). Will make about $1 - $1.50~ a day(accounting for a full system setup at 200w with a single 1660s@30mh/s, 2.5 ETH BR). That's a 400 day ROI. We're in a Bullmarket, Bull markets don't last. This is the third Crypto bull market I've been in. If you/he puts that in a good project he'll easily make $100-200 in just a couple of months.

Did I ROI?

Yes, and well beyond it now. However, As I said I mined during the bear market and suffered a lot of set-backs and pain. The Black-swan flash crash of 2018 and then in 2020 basically wiped me TWICE. In 2020 I just about gave up on everything but I worked at my normal job and held, kept mining. Last year I purchase 588's for around $65 a piece on Auction from liquated mining farms.

So my question WHAT ARE YOU going to do when your mining AT A LOSS because a 'flash-crash' or markets tanks for sometimes months on end? I saw it at the end of 2018. I'll probably see it again at the end of 2021.

Gtx 1660 super has 6gb VRAM, before that 6gb VRAM runs out it will take 3 to 4 years, you are bewitched if you failed to get your ROI back in this period of time even if you can only get 0.80$ from gtx1660 super mining 24 hours a day, what about those asics that are only given access to 4.5gb memory?? Before that time comes you should have get 2x your ROI or even 3x, do some math

[Ken_terrance]

Hi there! My name is Agustín and I'm from Argentina. I've been interested in crypto for a couple of years now, but now with a couple of friends we decided to invest in mining.

We live in Argentina where electricity fees are very low. Our first choice is to put together a GPU rig to mine ETH and then reinvest our earnigs (I expect to be in 12 months max) in a good ASIC for mining BTC.

But of course, I'm writing this to ask help to the experts. What would you recommend me? Thank you so much in advance!

Now it's GPU vs ASIC, you can earn ROI faster with Asic miner if you go with the fastest ones but once the become obsolete it's the end, you will have hard time trying to sell compare to graphic cards, GPUs can still be used for graphics work and also gaming so you can sell them easily in future

[miner29]

Hi there! My name is Agustín and I'm from Argentina. I've been interested in crypto for a couple of years now, but now with a couple of friends we decided to invest in mining.

We live in Argentina where electricity fees are very low. Our first choice is to put together a GPU rig to mine ETH and then reinvest our earnigs (I expect to be in 12 months max) in a good ASIC for mining BTC.

But of course, I'm writing this to ask help to the experts. What would you recommend me? Thank you so much in advance!

Now it's GPU vs ASIC, you can earn ROI faster with Asic miner if you go with the fastest ones but once the become obsolete it's the end, you will have hard time trying to sell compare to graphic cards, GPUs can still be used for graphics work and also gaming so you can sell them easily in future

You able to buy asics right now?  Be uase unless you pay outrageous or buy old outdated...all modern asics are sold out for a few months minimum.  Only a little easier to find gpus. 

$6k should of bought eth or btc last year with it.  Now is the absolute worst time to be buying any mining hardware.

[cabezonni]

Thank you for all the replies! Really helpful

Hi there! My name is Agustín and I'm from Argentina. I've been interested in crypto for a couple of years now, but now with a couple of friends we decided to invest in mining.

We live in Argentina where electricity fees are very low. Our first choice is to put together a GPU rig to mine ETH and then reinvest our earnigs (I expect to be in 12 months max) in a good ASIC for mining BTC.

But of course, I'm writing this to ask help to the experts. What would you recommend me? Thank you so much in advance!

Okay lets go slow and easy.

1)what is your power cost?

10 cents full cost for a k-watt? = too high
 6-9 cents full cost for a k-watt? = meh okay not terrible
4-5 cents full cost = good
2-3 cents = you will make money very good.

2) how much cheap power do you have? a single 30 amp 240 volt circuit is more than enough for a 6k investment.

3) room size.

4) noise tolerance.

let us know the things I asked.

People here on BTC  Talk can be liars and bad. Many will try to hurt new miners as they see them as competition.

I say if the new guy is polite and sincere lets help him.

https://bitcointalk.org/index.php?action=trust;u=64507 

this is my trust page my trust page is one of the best ones on BTC as I effort to make profits for all in any country as long as the people act fairly decent.

Read trust pages for people talking to you. It can help you somewhat.

1) Power costs in Argentina are 3 cents a k-watt aprox, but with inflation going higher and higher I believe we'll be in 2 cents later this year.

2) I don't know if I understood this question correctly, but the cheap power available is basically all that we want (at least until the power system crashes and we start to have a lot more power outages, but this probably will not happen until one or two years from now). Thinking in the long-term, we know we should invest in solar power better sooner than later.

3 and 4) I don't know the exact measures of the place, because I've only been there once, but I'd say it's 50mt². Noise also wouldn't be a problem because It's like a "second house" in the back separated from the actual house.


Phil, I've been in the forum for probably a week now and I find your posts super interesting and based in real knowledge. Didn´t know about the trust pages, I'll be watching that for sure. Thank you for the help! 

[cabezonni]

Invest in DeFI, Or literally any good project. You'll never make your 6K back in time if you're just starting now. GPU, PSU, and other Hardware prices are through the roof. During Bullmarkets you DO NOT BUILD mining rigs. You buy the coin which will make you'll more money in a month than a mining rig will paying itself back. That's my personal opinion. I'm a big miner, but I started during the first bullmarket in 2017 and never stopped even during the bear market of 2018-20.

With ETH finally getting Phase 0 and moving to phase 1.5 in 2021/22 Personally the mining game's over now. On top of that ASIC on ETH that are insanely powerful are coming online this year.

Here we are again, people are packing 40 pieces of graphic cards right in front of me in a store to mine Ethereum and you are here saying you can't make your ROI back? It only takes 4 month to get ROI back on a single gtx1660 super today, since you said you build your rig in 2017? Good, my question is did you make back your ROI or NoT?

Here we are again. People thinking of buying over-inflated priced GPUs like the 1660s when ETH POS was initially launched last year with a full move away from PoW thinking they'll make all their money back GPU-mining. I'm going to put this super easy.

$400, 1660 SUPER(MSRP was 230~)( plus you can't even buy these anymore there not in production). Will make about $1 - $1.50~ a day(accounting for a full system setup at 200w with a single 1660s@30mh/s, 2.5 ETH BR). That's a 400 day ROI. We're in a Bullmarket, Bull markets don't last. This is the third Crypto bull market I've been in. If you/he puts that in a good project he'll easily make $100-200 in just a couple of months.

Did I ROI?

Yes, and well beyond it now. However, As I said I mined during the bear market and suffered a lot of set-backs and pain. The Black-swan flash crash of 2018 and then in 2020 basically wiped me TWICE. In 2020 I just about gave up on everything but I worked at my normal job and held, kept mining. Last year I purchase 588's for around $65 a piece on Auction from liquated mining farms.

So my question WHAT ARE YOU going to do when your mining AT A LOSS because a 'flash-crash' or markets tanks for sometimes months on end? I saw it at the end of 2018. I'll probably see it again at the end of 2021.

In my situation, living in Argentina, I think mining is never a loss. Electricity is cheap and no government is going to change that until it's absolutely necessary (not yet).

Also, my goal is not to have a lot of dollars, my goal is to have a lot of BTC, ETH, LTC or any DeFi. If I have $2000 today I can only buy 1,20 ETH, but if I mine, I'll probably have three times that in a year. If the bear market comes I really don't care, my bet is that people in the future will go full crypto so their value will be a lot more.

[philipma1957]

okay you want a gpu rig to start.

You want gpu's
You want motherboard
you want psu
you want ram.

My spanish is rusty but I will give it a stab do you have a store that sells computer gear.?

[cabezonni]

Hi there! My name is Agustín and I'm from Argentina. I've been interested in crypto for a couple of years now, but now with a couple of friends we decided to invest in mining.

We live in Argentina where electricity fees are very low. Our first choice is to put together a GPU rig to mine ETH and then reinvest our earnigs (I expect to be in 12 months max) in a good ASIC for mining BTC.

But of course, I'm writing this to ask help to the experts. What would you recommend me? Thank you so much in advance!

Now it's GPU vs ASIC, you can earn ROI faster with Asic miner if you go with the fastest ones but once the become obsolete it's the end, you will have hard time trying to sell compare to graphic cards, GPUs can still be used for graphics work and also gaming so you can sell them easily in future

I think this is my only "fear" about this investment. Let's say I buy the new Antminer of 100THs next June (I won't)...when will it be the best time to sell it? What is the average useful life for a brand new ASIC miner?

[cabezonni]

okay you want a gpu rig to start.

You want gpu's
You want motherboard
you want psu
you want ram.

My spanish is rusty but I will give it a stab do you have a store that sells computer gear.?

Yes, in Mercado Libre (our Amazon in Latinamerica) I've been finding 3060 ti for $900. I know that's expensive but that's all there is. Even if I find good deals in Ebay, with the shipping and all it'd be about the same price that I can buy it here.

Our actual plan is

1) GPU for start
2) Reinvest our earnings to buy ASIC for BTC and sell GPU if GPU mining goes away.
3) Get more ASICs for BTC and try to have them updated

Please tell me if you think that makes sense!

[deskless]

Personally I feel 5700xt could be a great choice. Runs flawless on unix based os running phoenixminer