Topic: $5000... invest in different types of cryptocurrency or mining equipment? (Read 1957 times)

Buy bitcoin and maybe some PoS coins. Keep an eye out for altcoins that are original and actually do new things, versus just being another copycat coin.

I would recommend building rigs for scrypt mining. You can make alot of profit being an early adopter of altcoins.

Good question, have been wondering about this myself for a long time...
It both has obvious pro's and con's, investing that 5k right now in some upcoming altcoins might generate huge profits in the long run, while a steady stream of crypto via mining also seems very sweet...
In regards to GPU mining or waiting for ASIC, that's probably one of the million dollar questions. Although GPU mining is still very profitable, it could be left in the dust as soon as those ASIC's hit the market...
Then again, that will be in like 4 month's, and honestly, I can't predict what the playing field will look like by then! 

I'd go 50% BTC, 30% LTC and 20% Netcoin.
Thats from of a professional investor perspective.

take 1/3 of money in buying mining things + 1/3 on buying alt-coin = profit + saving 1/3 of your money 

Don't invest in mining.

A rough answer would be about 45$ a month.

A more precise answer can be calculated as follows.

1. Understand the terms.  1 Kwh = 1 kilo-watt hour = 1000 watts for 1 hour
2. Look at your most recent electricity bill.  It should state your rate per kwh. (Will assume $0.10)
3. Select the type and quantity of GPUs you want to use.  For example 2x R9 280x would give you more or less 1500 KH/s.
4. Find the power consumption (i.e TDP) in watts for your card.  The R9 280x consumes about 250 watts.
5. Add about 100 watts for your CPU, harddrive, etc.
6. Total wattage = 100 w + (card wattage * number cards).  In this example, 600 w, or 0.6 kw.
7. Calculate costs: Mining hours per day * mining days per month * total kw * rate per kwh.

i.e. 24 * 30 * 0.6 * 0.1 = $43.20 a month

http://www.guru3d.com/articles_pages/gigabyte_radeon_r9_280x_windforce_review,8.html

Happy mining!

It depends on the equipment and the cost of electricity. A good guess would be $1.25 to $3.50 per day.

Does anyone know what the electricity bill or watts are for a 1500KH/S mining rig?

Bitcoin mining is profitable only if you can get the equipment for less than 0.018 BTC per GH/s.

Scrypt mining is harder to estimate because it also depends on electricity costs and exchange rates. My scrypt mining revenue is about $5.00 per day per MH/s right now. If the difficulty rises 1% per day, then I can expect the total revenue to be about $500 per MH/s. I then subtract the power and equipment costs to get my profit.

i was reading to be competitive in mining u nead to be paying around $10 GHS them yellow jackets if you were to buy 10 that's a total of $800 for 20 GHS = $40 PER GHS having said that what is the best deals around per GHS

Protip: Don't ask people who lost money to altcoin pump&dump/asic scams for financial advice.

cryptomogul..........feel free to ask away.  I'm more than happy to help out a fellow enthusiast if I know the answer!  Learning and knowing is important in this hobby/business. 

$$Happy Mining$$

@odolvlobo: I am trying, as much as possible, to make it an 'educated' gamble and to see it from the eyes of people who've already played the field. As expected in the noob forums, I am asking a lot of questions to try and get there (as well as scouring various forums/sites). 

Looks like most of the Sr. members and veterans are saying 'no' to mining, and the jr members are saying they want to try their luck with it. Any new miners out there (1 month in) care to share their experiences in the field so far? Thanks again all.

These nanofury usb's keep getting better and better If these yellow jackets are truly like they describe 2.2ghs stock with no heatsink I may have to pick up some to satisfy my usb miner fix.  I hope we get to 10ghs on a stick by the end of this year.

don't join the club

Personally I wouldn't get in to mining now, to much competition and the difficulty is always increasing.

I'd put a fair chunk in to BTC and a little in to some of the 'proper' alts 

If this is really just a gamble, then you don't need to ask for advice. You are asking to many questions. Just pick something and see what happens.

All the machines we have ordered are currently taken.  We just happened to be very lucky and ordered these machines right when they became available and happen to get our hands on a few.  We have other friends asking but the next order is currently on a pre-order status.  We want to test the machines first before I even consider selling one to someone else.  We will know this week if these machines are worth it or not, then we will go from there on ordering more.

The only thing I worry about is that the difficulty versus mining power.......one of those things where I think the window of opportunity is getting very small to keep mining at a profitable stage.  After April or May I am curious to see how much it really changes.  Especially when a few of the other companies are releasing 2th/s machines sometime in April.  That is going to put the mining power up quite a bit.

Don't quote me on the April thing.......but curious to see how hard it will really get to mine without having a substantial amount of mining power.  Basically if your not running with the big dogs, you will need to stay on the porch......if you get my drift.  That is what I have read anyways.......

That is why my idea is to get my mining gear paid for as fast as possible.  If I can at least break even, I'm happy.  Hoping to maybe use the ASIC miners for another type of cryptocurrency to mine later on if bitcoin mining becomes to difficult or not lucrative enough.

Would your source happen to know if there are 1 or 2 more machines available? I'm definitely in the market and if there is a reliable place online, a lot of us new folks would be interested.

Also, were these previously used to mine already or are they completely new? I want to keep in contact with you btw and you should post pics up once you get em   Thanks!