Well this list is a generally pretty good list of tips but I do think you shouldn't be so certain in some of your statements.
For one your "If I can do it, so can you" statement is a bit misleading as you started in June and had three relatively good months of profit. Newcomers to mining are entering at the beginning of a rapid deterioration in profitability coupled with hardware prices still selling for a premium, this includes used equipment as well. Claiming users may need to wait up to 150 days (which is actually a quite good time for ROI) is also a bit misleading as the number is likely double that if not longer for the reasons I just mentioned.
Everything else though I agree with for the most part and can be applied to existing miners. I just don't think we should be encouraging new miners to invest so much at this point in time as the future is quite uncertain and once ROI projections get out to a year or more it really is questionable if they will ever recoup their investment.
Topic: Don't focus on GPU panic. Focus on efficiency. - page 3. (Read 2119 times)
Reddit's sub Buildapcsales is a great place to find cheap GPUs and the people there are extremely knowledgeable about discounts on various websites and figure out ways to maximize cash back from multiple sites; for example today there were prebuilts with i5 7400s, RX 480 8GBs and 8GB DDR4 for $500. I bought one just to scrap the GPU and sold the rest of the parts for a nice amount. Communities are great places to start bargain hunting.
Nice! thanks for sharing that.
Reddit's sub Buildapcsales is a great place to find cheap GPUs and the people there are extremely knowledgeable about discounts on various websites and figure out ways to maximize cash back from multiple sites; for example today there were prebuilts with i5 7400s, RX 480 8GBs and 8GB DDR4 for $500. I bought one just to scrap the GPU and sold the rest of the parts for a nice amount. Communities are great places to start bargain hunting.
EVGA PSU are nice and a bit cheaper but they annoying me greatly with them only have 6+2/6 PIN GPU connectors for thier 1000/1300w PSU it makes hard if you have cards with dual 8 Pins or just multiple 8-pin cards. I'd recommend Corsair 1000w RMX or Antec 1300w HCP.
I have this thermaltake titanium PSU that also fails with the 6+2. The rm1000x is a godsend as it does have a bunch of two 6+2 pin. To compensate, you can find some 8 pin to 2 6+2, but they can be pricey. I think they can go for around $3 per.
EVGA PSU are nice and a bit cheaper but they annoying me greatly with them only have 6+2/6 PIN GPU connectors for thier 1000/1300w PSU it makes hard if you have cards with dual 8 Pins or just multiple 8-pin cards. I'd recommend Corsair 1000w RMX or Antec 1300w HCP.
For the PSU, I would add that only buy GOLD/PLAT/Titanium rates PSUs, these are going to be running 24/7 you want quality and efficient powersupplies
Good point. I recommend gold as a minimum. The cheapest way to power lots of rigs is to buy a small psu paired with an hp server psu. I personally have Corsair and Evga. Both have been too nice to me. They send me back new PSUs anytime I've had issues.
For the PSU, I would add that only buy GOLD/PLAT/Titanium rates PSUs, these are going to be running 24/7 you want quality and efficient powersupplies
If you are new to GPU mining here is my advice to you.
Do not pay high prices for GPUs with the promise of great returns.
Do figure out how to stack discounts when buying online.
Do not buy anything on ebay unless it is truly a great deal.
Do consider buying a good PSU.
Do buy hardware when people panic sell.
Do not fear buying used, but always buy newer models from companies where warranty transfers such as Evga.
Do your research on the best models to purchase.
Do not sell your coins after the panic. Sell during the rush.
Do optimize your miners. This will pay off in the long run.
Do expect a long ROI at around 150 days minimum. This is not a get rich quick scheme unless you were mining in May/ June. Be willing to learn how to trade coins to maximize profit.
Zcash is your friend.
For science I purchased a bunch of GPUs in June to add to my existing arsenal. These rigs are 75%+ paid off already. If I can do it, so can you. Any questions feel free to ask.
Do not pay high prices for GPUs with the promise of great returns.
Do figure out how to stack discounts when buying online.
Do not buy anything on ebay unless it is truly a great deal.
Do consider buying a good PSU.
Do buy hardware when people panic sell.
Do not fear buying used, but always buy newer models from companies where warranty transfers such as Evga.
Do your research on the best models to purchase.
Do not sell your coins after the panic. Sell during the rush.
Do optimize your miners. This will pay off in the long run.
Do expect a long ROI at around 150 days minimum. This is not a get rich quick scheme unless you were mining in May/ June. Be willing to learn how to trade coins to maximize profit.
Zcash is your friend.
For science I purchased a bunch of GPUs in June to add to my existing arsenal. These rigs are 75%+ paid off already. If I can do it, so can you. Any questions feel free to ask.
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