Topic to everone who want still invest on mining rig (GPU)

[Vesyz]

Hi everyone!

I have massive problem. I read all forum about it but first...

I bought 2 x corsair 1000W + mobo + etc and i want to buy 6x 290. But i don't have still them because i was on holiday. Now when i came back i read i saw ASIC.... and that's a problem.

Ok the point is:

buy GPU and start mining? everything will cost me around 4000$ or sell everything and forget it? How do you think guys/girls?

And i forget: i don't pay for electricity.

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[Jacko]

Personally I would sell everything and use the proceeds to buy the Gridseed ASIC Scrypt miners instead.

That's just my personal opinion.

[Vesyz]

Personally I would sell everything and use the proceeds to buy the Gridseed ASIC Scrypt miners instead.

That's just my personal opinion.

But gridseed cost 6000$ for only 6mh/s. When KnC will come, gridseed can come to toilet :-) (i think). For GPU is x11 or n-scrypt.

[hellscabane]

If you're going to drop $4,000, either find some used equipment or find another $6,000 and get a Titan from KNC. ROI is going to be hard to come by over the next few months.  A lot of coins are starting to become highly unprofitable and it'll be even more so in places where electricity costs are higher.

[envy2010]

GPUs will always have something useful to do. You can mine scrypt, scrypt-n/jane/x11/whatever, or the next big thing, or do folding@home, or GIMPS, or sell them to gamers.

ASICs are very expensive coffee-warming paperweights once the difficulty of whatever algo they mine goes high enough.

Take that all for what it's worth.

[FoBoT]

sell and buy pizza and ice cream
the end is near

[griffinriz]

you can mine HVC,i think ATM its ASIC resistant 

[Vesyz]

So i see many people speak differently... ASIC or scrypt :-)

[MisO69]

When KnC Miner ships their 250Mh units most sCrypt coins will be unminable with GPU. The competition will be too big. So then all us guys with GPUs will switch to X11 or other algo coins.

Keep your GPUs and mine some coins. I recommend Darkcoin, I see it going to .01 soon, maybe more.

[Vesyz]

When KnC Miner ships their 250Mh units most sCrypt coins will be unminable with GPU. The competition will be too big. So then all us guys with GPUs will switch to X11 or other algo coins.

Keep your GPUs and mine some coins. I recommend Darkcoin, I see it going to .01 soon, maybe more.

But you think is possible to get my money back when i invest to miner? :-)

[praxiscat]

Go to X11 Darkcoin or Hirocoin, and possibly EMC2 if we end up making the switch to X11 (we are looking into it, but nothings final or decided).
It will still be a couple of months before these hit, but there will be coins you can mine on without fear.
The ASICs can be very difficult for a small player to switch over. There will be coins you can use your GPU to mine with once they hit though.

[kalus]

don't do it!  not enough time before asics hit to break even. 

[136BTC]

Personally I would sell everything and use the proceeds to buy the Gridseed ASIC Scrypt miners instead.

That's just my personal opinion.
 

[jonnysomething]

I look at mining as a hobby. It's fun.

If you have 4k to invest in a hobby with a .01% chance of you getting crazy rich, drop the cash and go for it.

If you're looking to make money, take that 4k and learn about day trading.

I'd recommend mining though, I think it's fun.

[gondel]

Hi everyone!

I have massive problem. I read all forum about it but first...

I bought 2 x corsair 1000W + mobo + etc and i want to buy 6x 290. But i don't have still them because i was on holiday. Now when i came back i read i saw ASIC.... and that's a problem.

Ok the point is:

buy GPU and start mining? everything will cost me around 4000$ or sell everything and forget it? How do you think guys/girls?

And i forget: i don't pay for electricity.

Hello,
Mining can be fun, but addicting too It is little like gambling...I n my opinion if you are not paying for electricity give it a try. Also from where you are getting this free electricity?

BR,

Gondel

[Androidicus]

I look at mining as a hobby. It's fun.

If you have 4k to invest in a hobby with a .01% chance of you getting crazy rich, drop the cash and go for it.

If you're looking to make money, take that 4k and learn about day trading.

I'd recommend mining though, I think it's fun.

+1

Hi everyone!

I have massive problem. I read all forum about it but first...

I bought 2 x corsair 1000W + mobo + etc and i want to buy 6x 290. But i don't have still them because i was on holiday. Now when i came back i read i saw ASIC.... and that's a problem.

Ok the point is:

buy GPU and start mining? everything will cost me around 4000$ or sell everything and forget it? How do you think guys/girls?

And i forget: i don't pay for electricity.

Hello,
Mining can be fun, but addicting too It is little like gambling...I n my opinion if you are not paying for electricity give it a try. Also from where you are getting this free electricity?

BR,

Gondel

Couldn't agree more! Very addictive when you see auto payouts arriving in wallet... BUT the Mine & Dump model driven by need to meet $/Kw and make profit against ever increasing Diff is killing the 'Golden Goose' and with CPU>GPU>ASIC it's all getting rather frustrating! With new scrypt coins launching daily the decision on what to mine and what coin might even get to an exchange becomes increasingly difficult.

OP - The answer may well be in your last sentence! - If you don't pay for electricity just go for it with the GPU - at least they can be resold whereas $/kw/khs ASIC benefit of ASIC doesn't apply with free power and they'll become expensive paperweights fairly quickly unless some newbie buys them from you later on...

[Jacko]

Agree with above.

The free electricity bit is a winner as that is a big factor in any calculation as to ROI or even break even.

Mining should have a miners anonymous program for people to seek help. 

[Vesyz]

I calculated everything and i think i will break after 5-5,5 months... but this calculating is with websites like whatmine.com etc. so i have to still mine scrypt and on night sell them on market and check again on websitw what to mine.

Is this good idea?

[Spoetnik]

I look at mining as a hobby. It's fun.

If you have 4k to invest in a hobby with a .01% chance of you getting crazy rich, drop the cash and go for it.

If you're looking to make money, take that 4k and learn about day trading.

I'd recommend mining though, I think it's fun.

ya it's possible he could make more day trading with less risk with 4 grand i know that is what i had done last few months.
rather than buying a bunch of overpriced gpu's i just flipped mostly BTC for profit and did ok over all..

i bought 1 7950 in late OCT 2013 and they were at Newegg Canada for $199 can brand new a few weeks later on ebay my card was min $475
all the little dicks that came rushing in OCT drove the price up across the world to double or more and there is no god damn way in hell i am paying double for my 2nd 7950.
i only wish i bought more at 199 lol ..instead i bought a PC for about 4 grand including a 140khz BenQ gaming monitor and a Harmon / Kardon amp for my PC.
i was thinking it would be good for gaming and got free codes for games with the gpu i never used and i bought CS GO and never ran it one time
and i never loaded any of my older games even once on my new machine since October.. so what happened is i spent 4k on a fancy web browser machine HAHAHHA
and i already had two machines running too lol .. a C2D and an Athlon
I used to work on CS:GO cracks and have played it with an emu a bit offline before i bought it and have not loaded my CSS either in a year or two at least
but i plan on firing up GTA 4 soon on the new machine.. even though i had played it to death before
and i had GTA 5 for PC in the back of my mind all along while shopping for my pc parts i wanted.

i say all that because i would be pissed off at myself had i bought asics that were obsolete in a couple months.. i'd have to suggest getting GPU's if at all.
but consider what 6 290's cost i am not sure that is too wise.. it may take you forever to make your money back.. i woudln't buy them but i sure as hell wouldn't buy asics.
the pattern since December is down down doooooooown in everything all over.. the more time goes by the less i make mining and it's getting bad and going to get worse i think.

maybe see if you can get used GPU's for a good price and by that i mean half of retail roughly maybe.. ebay dicks say they are new a lot but they use them for a couple months first lol

anyway i am not sure i would advise mining at all.. it may be hard to get your money back and more and more people are prob looking to get out too
it's a perfect shit storm brewing..

[Androidicus]

Spoetnik - you make a lot of good points.

I have been tempted by Gridseeds in terms of their low power per k/hs but their post-mining-redundancy usability is zilch! At least with GPUs they can be re-functioned very easily...

Shitstorm - lol - shitcoinstorm indeed! I'm keeping an open mind but the last month or three has seen the dark clouds for sure...