Topic: Help me build a mining rig (my $$) and get % of first months rewards - page 2. (Read 2088 times)

awesome! That's a perfect start - will order these asap. What mother boards and cables would you recommend?

alright i
Probably mining only, or crunching for other things (maybe in the future).
Electricity cost is negligible at the moment, as it is fixed in with the rent. There may be a cap that I pay a premium on once hit but haven't hit that cap yet.

Is this a mining only machine? Will you be using it for other things? What do you currently pay for electricity?

Alright I'll help out...So easiest thing is go to whattomine.com and see what coins are profitable.  IF you want to speculate, you can mine the most profitable coin, then sell it and buy the one you want to speculate on.  better than simply mining it.

As for your rig, get 5 or 6 r9 470s/480s and flash the bios on them (get one with a dual bios switch if you are new to this).  there are threads here about that.  and you'll get 26-31mhs per card.  Thats what I would do with 2000$.  although this should cost you less.

Thanks! It's definitely on the list

Since you are considering a coin for long term holding, you might add monero to your list of possible coins to mine. It has some long term potential.

Right!?

I'm starting to memorize the command line stuff, but I don't really understand the fundamentals yet so I don't really know what it is I'm typing in other than regurgitated commands that I can only sometimes remember.

Thanks @op for bringing this up I am more in your situation because I have read but cant seem to understand the coding part. I would just hope someone with the requisite knowledge can explain in simple terms...

I have more mechanical/hardware knowledge than I do software knowledge.
I can do very little hard coding.
But i can build and solder just fine.

Thanks for the pointers!

I think I'm aware of the pitfalls of mining or atleast most of them, I've been interested in bitcoin since 2009.. I was a broke teenager at the time with no way of obtain BTC other than faucets (back when gavens faucet gave 0.5 btc <3). Of course being a dumb teen I either sold or broke the laptop that contained the wallet.dat, and been hovering, reading posts, articles and trading coins here & there ever since.

That's why I'm not going for the specified date Return Of Investment strategy, but speculative investment instead.
My overall goal is to mine as many coins as I can and hold onto them. Not to sell right away trying to instantly profit of my little machine (it's more long term holding)

The only coin that's profitable these days is ETHEREUM. With $2000 USD you can make 1 ETH a day which is like $12 currently. In the near future that value may increase or decrease. Most likely you will only be able to mine for the next 6 months, then ETHEREUM will switch to POS which is not mineable anymore. Your gear should be paid off by then and you can resell it to gamers or continue mining other coins however most won't be as profitable by then.

You need some basic knowledge of electronics and computers to GPU mine. But there are many videos on Youtube.

So, I really want to build a rig that mines altcoins.

But
I'm going to need someone to point me in the right direction for parts..  

I've googled and read post after post about how to build a mining rig optimized for altcoins such as ByteCoin.
Just when I think I'm understanding, I realize that no.. no I'm not..

So I say chuck it in the fuck it bucket and move on, maybe I can find a helping hand here?

Also would give me an opportunity to build trust in the community  
as I've only made small contributions via image contests & voting - other than general community support!

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The overall goal is not to make a specific ROI based on coins mined per day -- though that would be an added bonus of course.
But rather a good way for me to mine a substantial amount of new and existing coins for speculative investment purposes.
That plan may change if some coin becomes insanely profitable to mine.

Some info:

Mainly looking to mine CryptoNote currencies, but may be moving to other new coins

Max. budget for the build - $2000 US (would be incredible to do it for cheaper but that is the ceiling)

Payment for your help will obviously be discussed, but I was thinking 5% of the rewards for the first 50 days - or a flat fee based on calculations from the first reward


- Cheers!