I Want to start scrypt mining. How do i get started?

[orcanice]

First of all, i have free electricity.

But what hardware should I go for. Right now I have 0.7 btc and $700 to get started with.

[selfabuse]

With $700, you could probably put together a rig that would get you close to 1mh/s, but even with free electricity it's going to take you forever to make that money back.

In late February, I put together a 1.5mh/s rig for about $1100. For the first few days, I was making about $10/day, but that very quickly dropped and it's more like $4/day now. I'm still nowhere close to having even half of that $1100 paid off. If you were to use $700 and put together a rig with say, 2x 270xs you would be at about 960mh/s - but, it would take you about 233 days to make that money back - and that's not factoring in any wear and tear on the equipment, and is assuming the prices aren't going to drop any further.

[Planethill]

With $700, you could probably put together a rig that would get you close to 1mh/s, but even with free electricity it's going to take you forever to make that money back.

In late February, I put together a 1.5mh/s rig for about $1100. For the first few days, I was making about $10/day, but that very quickly dropped and it's more like $4/day now. I'm still nowhere close to having even half of that $1100 paid off. If you were to use $700 and put together a rig with say, 2x 270xs you would be at about 960mh/s - but, it would take you about 233 days to make that money back - and that's not factoring in any wear and tear on the equipment, and is assuming the prices aren't going to drop any further.

Exactly.  At this point, you do it because it fun, interesting, you enjoy new technology and you wish to help promote/improve the crypto-coinage network(s).  Not because you want to get rich quick.

[DrReaper]

You must have a computer. I would think about getting a single Gridseed miner to see how it all works. It will cost you around two hundred bucks. The good thing about them is they can be scaled up into a monster mining rig. The thing about mining is its very unstable. One day you may be in the money and others you come up empty. You have to pick and choose what to mine and know it may be worth nothing in the long run. When you get a winner it's a rush that is for sure. The best advice you can get is start small. You shouldn't invest a lot before you run a rig for awhile. It takes time to learn the ropes.

Gridseeds are neat learning devices as they mine both SHA265 and Scrypt. Less expensive that a graphics card system.

[gsupp]

Gridseeds are neat learning devices as they mine both SHA265 and Scrypt. Less expensive that a graphics card system.

And much less power (for scrypt mode at least).

[King Coolian]

Skipping all the tech aspects, i think you should just decide for urself one basic thing: "how long those $1K would come back to you, with profit"
These days...idk, you can get 1.3kH rig for that money, if you build it yourself, and if u are ok with used cards, look at the exchange rates...only "positive scenario" would be in mining some super hot new altcoin.

But being a miner, i would still say you should get it lol  , bc mining is fun, and sooner or later it will pay back with some nice revenue.
With 1K, i'd go for used hardware(videocards), for max. hash.