Topic: Advice for mining (starting) (Read 271 times)
They are both the same. The values are different because by default they use different inputs for hash rate and power. You have to put in your own inputs to get your current profitability.
ASIC's are a one trick pony. They are easy to setup and GREAT for mining a lot of coins quickly for the algorithm they were designed for, but otherwise are useless for anything else and the resale value is terrible. Since they have a high upfront cost, you may want to sell the coins you mine so you can make back your initial investment before the difficulty skyrockets and they become obsolete by a newer, better model. If you get in early enough, you should be OK.
GPU rigs on the other hand are much more versatile by being able to mine many coins but also require more work and maintenance. The smaller up front cost, versatility and great resale value also lowers the amount of risk you are taking and the pressure to sell your earnings to make ROI.
ok guys thanksGPU rigs on the other hand are much more versatile by being able to mine many coins but also require more work and maintenance. The smaller up front cost, versatility and great resale value also lowers the amount of risk you are taking and the pressure to sell your earnings to make ROI.
what i typed is based on things i read on here, google, whattomine and other sites which compare profit between cryptocurrencies. I dont know a lot but I think I should go for the best profit currency taking into account the cost of power + hardware.
I have a question...if you go to whattomine and coinwarz.com and compare bitcoin cash there is a huge difference! Is one of the sites wrong??
On coinwarz bitcoin cash profit per month is $4.07 while on whattomine is $11.69 have you noticed? On which site should I rely?
Thanks
ASIC's are a one trick pony. They are easy to setup and GREAT for mining a lot of coins quickly for the algorithm they were designed for, but otherwise are useless for anything else and the resale value is terrible. Since they have a high upfront cost, you may want to sell the coins you mine so you can make back your initial investment before the difficulty skyrockets and they become obsolete by a newer, better model. If you get in early enough, you should be OK.
GPU rigs on the other hand are much more versatile by being able to mine many coins but also require more work and maintenance. The smaller up front cost, versatility and great resale value also lowers the amount of risk you are taking and the pressure to sell your earnings to make ROI.
GPU rigs on the other hand are much more versatile by being able to mine many coins but also require more work and maintenance. The smaller up front cost, versatility and great resale value also lowers the amount of risk you are taking and the pressure to sell your earnings to make ROI.
Hi guys, how is it going?
Can you please give me an advice;
I want to start mining and I am thinking to mine alt coins instead of bitcoin.
I built my pc recently and the goal was to play games with it but now I have decided I prefer to make money with it.
CPU is amd ryzen 5 1600x, MOBO is gigabyte ab350 gaming 3 and for RAM I've got 16GB ddr 4 3200 mhz.
So, the choise is between adding 2 gpu (rx 580 8gb) to my pc or buying an ASIC to mine bitcoin etc...What do you guys think? Electricity is €0.06/KWh, I can spend big money but I dont want to waste it.
My idea is to "complete" my pc with the 2 rx 580 and mine Ethash algoritm (etherium etc...) cuz i get 30.2 mh/s with 1 gpu, so total of 60.4 .
I own a 550W psu. I should make $65/month as profit, but I feel i can earn more.
Each rx 580 will cost €320, so €640 total.
Plus i can sell the alt coins on kraken and earn some money from there too.
I really wanted to earn about $120/month but what do you say? Is it better to "complete" my pc and use its potential at 100% or invest in ASIC?
I am familiar with bitcoin as I already have a wallet and traded on kraken etc...
Thanks
Regards
Can you please give me an advice;
I want to start mining and I am thinking to mine alt coins instead of bitcoin.
I built my pc recently and the goal was to play games with it but now I have decided I prefer to make money with it.
CPU is amd ryzen 5 1600x, MOBO is gigabyte ab350 gaming 3 and for RAM I've got 16GB ddr 4 3200 mhz.
So, the choise is between adding 2 gpu (rx 580 8gb) to my pc or buying an ASIC to mine bitcoin etc...What do you guys think? Electricity is €0.06/KWh, I can spend big money but I dont want to waste it.
My idea is to "complete" my pc with the 2 rx 580 and mine Ethash algoritm (etherium etc...) cuz i get 30.2 mh/s with 1 gpu, so total of 60.4 .
I own a 550W psu. I should make $65/month as profit, but I feel i can earn more.
Each rx 580 will cost €320, so €640 total.
Plus i can sell the alt coins on kraken and earn some money from there too.
I really wanted to earn about $120/month but what do you say? Is it better to "complete" my pc and use its potential at 100% or invest in ASIC?
I am familiar with bitcoin as I already have a wallet and traded on kraken etc...
Thanks
Regards
Basti, lass es
you need to do some reading. search through the forum. u need some theory background before you go on building rigs. you can for sure buy 2x RX 580 since you need a gaming setup anyway. but dont go further until you understand what you are doing. from todays point of view u have no idea...change it first. 
Hi guys, how is it going?
Can you please give me an advice;
I want to start mining and I am thinking to mine alt coins instead of bitcoin.
I built my pc recently and the goal was to play games with it but now I have decided I prefer to make money with it.
CPU is amd ryzen 5 1600x, MOBO is gigabyte ab350 gaming 3 and for RAM I've got 16GB ddr 4 3200 mhz.
So, the choise is between adding 2 gpu (rx 580 8gb) to my pc or buying an ASIC to mine bitcoin etc...What do you guys think? Electricity is €0.06/KWh, I can spend big money but I dont want to waste it.
My idea is to "complete" my pc with the 2 rx 580 and mine Ethash algoritm (etherium etc...) cuz i get 30.2 mh/s with 1 gpu, so total of 60.4 .
I own a 550W psu. I should make $65/month as profit, but I feel i can earn more.
Each rx 580 will cost €320, so €640 total.
Plus i can sell the alt coins on kraken and earn some money from there too.
I really wanted to earn about $120/month but what do you say? Is it better to "complete" my pc and use its potential at 100% or invest in ASIC?
I am familiar with bitcoin as I already have a wallet and traded on kraken etc...
Thanks
Regards
Can you please give me an advice;
I want to start mining and I am thinking to mine alt coins instead of bitcoin.
I built my pc recently and the goal was to play games with it but now I have decided I prefer to make money with it.
CPU is amd ryzen 5 1600x, MOBO is gigabyte ab350 gaming 3 and for RAM I've got 16GB ddr 4 3200 mhz.
So, the choise is between adding 2 gpu (rx 580 8gb) to my pc or buying an ASIC to mine bitcoin etc...What do you guys think? Electricity is €0.06/KWh, I can spend big money but I dont want to waste it.
My idea is to "complete" my pc with the 2 rx 580 and mine Ethash algoritm (etherium etc...) cuz i get 30.2 mh/s with 1 gpu, so total of 60.4 .
I own a 550W psu. I should make $65/month as profit, but I feel i can earn more.
Each rx 580 will cost €320, so €640 total.
Plus i can sell the alt coins on kraken and earn some money from there too.
I really wanted to earn about $120/month but what do you say? Is it better to "complete" my pc and use its potential at 100% or invest in ASIC?
I am familiar with bitcoin as I already have a wallet and traded on kraken etc...
Thanks
Regards
Jump to: