GPU Mining Help?

[Mattyc93]

Hey guys.

Summer is approaching, and I'm looking for some fun/hobby outside of work,
with the possibility of it being a self-preserving venture.
My work can fund building a rig, and I have a budget of around $1000 (£600).

My student house is about to be 3 people lighter, those 3 having paid utilities
until the end of term too. Energy is paid, energy use will be lower - may aswell
use said energy, right?

I have several nooby questions, and would appreciate any help.

1 - Is GPU mining still profitable? I know ASIC-proof coins can be mined, but
will they turn profit?
2 - Would you recommend mining or is my money better spent trading?
3 - If I go ahead with a GPU miner, what GPUs are recommended? I've seen
a lot of people using r9 270/280s.

I have been reading around a lot without finding answers, so apologies for all
the questions. I fear I'm too late to mining anyway!

Regards,
Matt

[microzee]

Generally, you pretty much break even with not that much profit. The reason I mine, is as an investment. My hope is that the coin I'm currently mining, will go up in price 5 years down the road, and then I will cash out all of them and hopefully make some cash.

I would recommend mining, because it is a great hobby

Currently I'm using 7970's and r9 280x's. You can see which cards have the best hashrates here:
https://litecoin.info/Mining_hardware_comparison
Check out prices on them and figure which one you think is the best bang for the buck.
Also, since scrypt is about to be taken over by asics, I mine scrypt-n coins.

I myself have just recently started mining, so you probably want some input from the pro's too.

[hulk]

Hey guys.

Summer is approaching, and I'm looking for some fun/hobby outside of work,
with the possibility of it being a self-preserving venture.
My work can fund building a rig, and I have a budget of around $1000 (£600).

My student house is about to be 3 people lighter, those 3 having paid utilities
until the end of term too. Energy is paid, energy use will be lower - may aswell
use said energy, right?

I have several nooby questions, and would appreciate any help.

1 - Is GPU mining still profitable? I know ASIC-proof coins can be mined, but
will they turn profit?
2 - Would you recommend mining or is my money better spent trading?
3 - If I go ahead with a GPU miner, what GPUs are recommended? I've seen
a lot of people using r9 270/280s.

I have been reading around a lot without finding answers, so apologies for all
the questions. I fear I'm too late to mining anyway!

Regards,
Matt

1) GPU mining isn't profitable anymore due to the scrypt ASIC and FPGA for x11 (x11 still profitable for now but not for long).
2) Buying BTC or LTC directly is a better investment choice, if you want less risk then go with BTC.

[goodluck0319]

if I buy the FPGA for x11, how do I program it and mine it?

[mazuma]

if I buy the FPGA for x11, how do I program it and mine it?

lol

[Mattyc93]

Generally, you pretty much break even with not that much profit. The reason I mine, is as an investment. My hope is that the coin I'm currently mining, will go up in price 5 years down the road, and then I will cash out all of them and hopefully make some cash.

I would recommend mining, because it is a great hobby

Currently I'm using 7970's and r9 280x's. You can see which cards have the best hashrates here:
https://litecoin.info/Mining_hardware_comparison
Check out prices on them and figure which one you think is the best bang for the buck.
Also, since scrypt is about to be taken over by asics, I mine scrypt-n coins.

I myself have just recently started mining, so you probably want some input from the pro's too.

Breaking even would be appealing too, as the cards could potentially be used for gaming afterwards.

Thanks for that resource, I'll have a look through that right away. Is there a resource which details all
of the algos used by each coin?

I've seen a lot of builds with extremely budget CPUs/MB - did you buy budget in that area?
I'm quite excited to get involved with mining, even if I make a small loss then I'd be happy.

[Mattyc93]

1) GPU mining isn't profitable anymore due to the scrypt ASIC and FPGA for x11 (x11 still profitable for now but not for long).
2) Buying BTC or LTC directly is a better investment choice, if you want less risk then go with BTC.

Hi there, many thanks for your reply.

How about for Scrypt-N? Is ASIC all over that too?
My only fear is that the market crashes and my entire investment plummets, whereas if I build a mining
rig I can atleast use/sell the components.

[hulk]

1) GPU mining isn't profitable anymore due to the scrypt ASIC and FPGA for x11 (x11 still profitable for now but not for long).
2) Buying BTC or LTC directly is a better investment choice, if you want less risk then go with BTC.

Hi there, many thanks for your reply.

How about for Scrypt-N? Is ASIC all over that too?
My only fear is that the market crashes and my entire investment plummets, whereas if I build a mining
rig I can atleast use/sell the components.

Scrypt-N was suppose to be ASIC resistance, but the problem is the profitability is far worse compare to x11 (hidden ASIC maybe?). You should calculate first if you can make a profit with mining rig first before buying them.

[Amph]

the only good thing for gpu(i don't care about asic, they are bad) right now is to mine x11 with 750ti, with one rig(6 cards) you get 0.012 per day + instamine some other coins(if you can), i can safely say that you can make roi in 5-6 months at max

[djm34]

if I buy the FPGA for x11, how do I program it and mine it?

If you buy an FPGA for X11 can you show it to us  
(I mean we hear about them for a month, but nobody have been able to show just one)

[hulk]

if I buy the FPGA for x11, how do I program it and mine it?

If you buy an FPGA for X11 can you show it to us  
(I mean we hear about them for a month, but nobody have been able to show just one)

I wouldn't show you one if I had one I would use it to secretly mine it .. hahaha

[Amph]

if I buy the FPGA for x11, how do I program it and mine it?

If you buy an FPGA for X11 can you show it to us  
(I mean we hear about them for a month, but nobody have been able to show just one)

I wouldn't show you one if I had one I would use it to secretly mine it .. hahaha

this is what they are doing it right now, and maybe with asic scrypt-n too

[xbudahx]

People that started in 2014 probably won't break even, if you start now it's very likely you will never see ROI.

That said, want to buy some gpus?

[amacar]

GPU mining is no go right now I leave my pc turned on just because I have free electricity.

[Amph]

People that started in 2014 probably won't break even, if you start now it's very likely you will never see ROI.

That said, want to buy some gpus?

i'm on the fence for this right now, if you can pay like $1000(used components) for one 6 x 750ti rig, that does at least 0.01 a day on x11, you probably would break even this year, especially if bitcoin rise

and this excluding casual instamine of other coins, that even if is low, it contribute to the roi part

with some luck you would see roi in 3-6 months max

[xbudahx]

People that started in 2014 probably won't break even, if you start now it's very likely you will never see ROI.

That said, want to buy some gpus?

i'm on the fence for this right now, if you can pay like $1000(used components) for one 6 x 750ti rig, that does at least 0.01 a day on x11, you probably would break even this year, especially if bitcoin rise

and this excluding casual instamine of other coins, that even if is low, it contribute to the roi part

with some luck you would see roi in 3-6 months max

Yeah with some wishful thinking I can see that but I wouldn't spend my own money to go that route. I also wouldn't assume x11 profitability stays where it is, I would expect it to go down.