Help! Need to know if I just screwed myself.

suukool

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Quote from: suukool on February 05, 2014, 01:01:00 PM

Quote from: Dallas5 on February 05, 2014, 12:57:12 PM

Quote from: sharted on February 05, 2014, 08:47:51 AM

Everyone seems to be ignoring the fact that there is no such thing as a "scryptminer." There are graphics card yes, but no ASICS, which it sounds like you have purchased. Where did you get this from? What website? Also, I just mine coins myself going by their current value because I don't trust multicoin sites. For one they don't mine the most profitable coin because they don't mine every coin. They mine the most profitable coin from THEIR own personal list of coins, so yeah. I make a batch file for each worthy altcoin so switching take sme 5 seconds. That's just how I do it though but if you're new then perhaps a multipool is best until you get the hang of it.

That's funny, there are already asics for scrypt mining away and more coming up this year.

To the OP you will not get a ROI within 2 weeks, why 2 weeks anyway? Just mine away many different coins and exchange them for BTC, if you're smart with that many power you will definitely make some money.

Thank you, that's what I was thinking too. Just was wondering the two weeks, since difficulty rises so quick, I want to get one more GPU for it and leave it at 2.5MH. Then mine around altcoins, hoping to mine some unpopulars with easy difficulty and sell them on cryptsy. Then after I'm doing making enough cash, sell it back on ebay. Take the cash I have plus the money from the sold miner, buy a better miner. etc etc.

Welp. I have until tomorrow to decide to pay. So any last comments would be helpful.

suukool

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Activity: 413

Merit: 100

Quote from: Dallas5 on February 05, 2014, 12:57:12 PM

Quote from: sharted on February 05, 2014, 08:47:51 AM

Everyone seems to be ignoring the fact that there is no such thing as a "scryptminer." There are graphics card yes, but no ASICS, which it sounds like you have purchased. Where did you get this from? What website? Also, I just mine coins myself going by their current value because I don't trust multicoin sites. For one they don't mine the most profitable coin because they don't mine every coin. They mine the most profitable coin from THEIR own personal list of coins, so yeah. I make a batch file for each worthy altcoin so switching take sme 5 seconds. That's just how I do it though but if you're new then perhaps a multipool is best until you get the hang of it.

That's funny, there are already asics for scrypt mining away and more coming up this year.

To the OP you will not get a ROI within 2 weeks, why 2 weeks anyway? Just mine away many different coins and exchange them for BTC, if you're smart with that many power you will definitely make some money.

Thank you, that's what I was thinking too. Just was wondering the two weeks, since difficulty rises so quick, I want to get one more GPU for it and leave it at 2.5MH. Then mine around altcoins, hoping to mine some unpopulars with easy difficulty and sell them on cryptsy. Then after I'm doing making enough cash, sell it back on ebay. Take the cash I have plus the money from the sold miner, buy a better miner. etc etc.

hellscabane

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Quote from: suukool on February 05, 2014, 12:54:37 PM

Quote from: hellscabane on February 05, 2014, 12:41:15 PM

Quote from: suukool on February 05, 2014, 03:36:24 AM

Would a 1.9 MH scryptminer be profitable in two weeks (when I receive the miner from Singapore)
Or did I just royally screw myself out of 1700$.
I've been saving for almost a year to get a miner, finally got one.
I don't pay for my electricity so that's not a problem, but I just looked into how difficulty works, Do you really think it could jump past 3000 in two weeks?

I will say, if you don't pay for electricity, then why go for a Scrypt ASIC? At this point, the cost per Kh/s of an ASIC is greater than the raw computer hardware. Sure you can resell it, but that is on the strict assumption that a refined model isn't significantly superior. If it is, then your 1st gen ASIC is like those 333 Mh/s usb sticks for BTC mining: pretty much dead weight.

I'm not sure what you're talking about, scrypt ASIC? I haven't heard of that, even looking up all I could find was just about as expensive if not more expensive with the same hasing power. Unless I can buy something like this : http://www.ebay.com/itm/0-2-th-s-200-Gh-s-bitcoin-miner-asic-/171234617575?pt=LH_DefaultDomain_0&hash=item27de60e8e7

and use it to get 200GH on litecoin mining then I have no idea what you're saying.

My mistake, I misread. My apologies, I got confused as I read through the post. Since you were getting something from Singapore, I thought you were getting one of the Gridseeds or something. Gah. My bad.

In this case, use a profit calculator to see how long it'll take you to ROI. As someone mentioned, you can always use a pool-hopping site to mine on. And if you're aiming to get LTC, just convert to LTC.

Once again, my apologies. Too much scanning and not enough thoroughness...

Dallas5

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Merit: 250

Quote from: sharted on February 05, 2014, 08:47:51 AM

Everyone seems to be ignoring the fact that there is no such thing as a "scryptminer." There are graphics card yes, but no ASICS, which it sounds like you have purchased. Where did you get this from? What website? Also, I just mine coins myself going by their current value because I don't trust multicoin sites. For one they don't mine the most profitable coin because they don't mine every coin. They mine the most profitable coin from THEIR own personal list of coins, so yeah. I make a batch file for each worthy altcoin so switching take sme 5 seconds. That's just how I do it though but if you're new then perhaps a multipool is best until you get the hang of it.

That's funny, there are already asics for scrypt mining away and more coming up this year.

To the OP you will not get a ROI within 2 weeks, why 2 weeks anyway? Just mine away many different coins and exchange them for BTC, if you're smart with that many power you will definitely make some money.

suukool

full member

Activity: 413

Merit: 100

Quote from: hellscabane on February 05, 2014, 12:41:15 PM

Quote from: suukool on February 05, 2014, 03:36:24 AM

Would a 1.9 MH scryptminer be profitable in two weeks (when I receive the miner from Singapore)
Or did I just royally screw myself out of 1700$.
I've been saving for almost a year to get a miner, finally got one.
I don't pay for my electricity so that's not a problem, but I just looked into how difficulty works, Do you really think it could jump past 3000 in two weeks?

I will say, if you don't pay for electricity, then why go for a Scrypt ASIC? At this point, the cost per Kh/s of an ASIC is greater than the raw computer hardware. Sure you can resell it, but that is on the strict assumption that a refined model isn't significantly superior. If it is, then your 1st gen ASIC is like those 333 Mh/s usb sticks for BTC mining: pretty much dead weight.

I'm not sure what you're talking about, scrypt ASIC? I haven't heard of that, even looking up all I could find was just about as expensive if not more expensive with the same hasing power. Unless I can buy something like this : http://www.ebay.com/itm/0-2-th-s-200-Gh-s-bitcoin-miner-asic-/171234617575?pt=LH_DefaultDomain_0&hash=item27de60e8e7

and use it to get 200GH on litecoin mining then I have no idea what you're saying.

hellscabane

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Activity: 896

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Quote from: suukool on February 05, 2014, 03:36:24 AM

Would a 1.9 MH scryptminer be profitable in two weeks (when I receive the miner from Singapore)
Or did I just royally screw myself out of 1700$.
I've been saving for almost a year to get a miner, finally got one.
I don't pay for my electricity so that's not a problem, but I just looked into how difficulty works, Do you really think it could jump past 3000 in two weeks?

I will say, if you don't pay for electricity, then why go for a Scrypt ASIC? At this point, the cost per Kh/s of an ASIC is greater than the raw computer hardware. Sure you can resell it, but that is on the strict assumption that a refined model isn't significantly superior. If it is, then your 1st gen ASIC is like those 333 Mh/s usb sticks for BTC mining: pretty much dead weight.

Bobsurplus

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Making money since I was in the womb! @emc2whale

Quote from: suukool on February 05, 2014, 12:34:35 PM

Quote from: Bobsurplus on February 05, 2014, 12:28:38 PM

I would ahve sold you a 2+mhs rig for 2K and included overnight shipping

Would you do escrow, I haven't paid the buyer yet. Tongue

Plus..I'm paying only around 1770$. for 1.9MH plus adding one more card would make it about 2.5 M/H
So if your miner can beat that for 2k, then fine.

I'd be more then happy to discuss this with you on my thread.

https://bitcointalksearch.org/topic/wts-5-x-scrypt-mining-rigs10mhsmotivated-seller-overnight-shipping-possible-447962

suukool

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Quote from: Bobsurplus on February 05, 2014, 12:28:38 PM

I would ahve sold you a 2+mhs rig for 2K and included overnight shipping

Would you do escrow, I haven't paid the buyer yet. Tongue

Plus..I'm paying only around 1770$. for 1.9MH plus adding one more card would make it about 2.5 M/H
So if your miner can beat that for 2k, then fine.

Bobsurplus

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Activity: 1008

Merit: 1000

Making money since I was in the womb! @emc2whale

I would ahve sold you a 2+mhs rig for 2K and included overnight shipping

suukool

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Merit: 100

Quote from: Hamuki on February 05, 2014, 04:24:31 AM

If you think that you can make 3000$ in 2 weeks with that power.. Then Good Luck... Thats never gonna happen.

3000 Diffuculty, not cash...SO many noobs here..smh.

suukool

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Quote from: NeedVIP on February 05, 2014, 11:36:30 AM

Quote from: suukool on February 05, 2014, 11:28:24 AM

Quote from: h3rlihy on February 05, 2014, 10:37:39 AM

You've probably just screwed yourself. a 1.9MH scrypt miner would probably be a little less completely unheard of.

I did try to engage you in conversation by pm yesterday to offer you advice on what to do but you didn't reply to me. If you just run headfirst, arms flailing into every situation without doing the proper checks, you are going to f*ck yourself. If you haven't already.

Everyone was saying to try to get my miner, that's what I did, I went to sleep before I saw your message.
ALSO, no I did not get scammed, if I can make 300-400$ I can buy another GPU, and so on.
Hardware doesn't loose value.

That is IF u get what u think you're getting: 1.9MH scrypt miner... huge IF there

Not really, I did it through ebay, knowing that IF anything was wrong, I could get my money back, because trust me they ALWAYS side with the buyer.
I'm not asking weather or not I got scammed, I'm asking if from the time it takes to get here, if it will be profitless, looking at the difficulty charts, I don't think so. But WHO KNOWS.

NeedVIP

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Quote from: suukool on February 05, 2014, 11:28:24 AM

Quote from: h3rlihy on February 05, 2014, 10:37:39 AM

You've probably just screwed yourself. a 1.9MH scrypt miner would probably be a little less completely unheard of.

I did try to engage you in conversation by pm yesterday to offer you advice on what to do but you didn't reply to me. If you just run headfirst, arms flailing into every situation without doing the proper checks, you are going to f*ck yourself. If you haven't already.

Everyone was saying to try to get my miner, that's what I did, I went to sleep before I saw your message.
ALSO, no I did not get scammed, if I can make 300-400$ I can buy another GPU, and so on.
Hardware doesn't loose value.

That is IF u get what u think you're getting: 1.9MH scrypt miner... huge IF there

suukool

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Activity: 413

Merit: 100

Quote from: h3rlihy on February 05, 2014, 10:37:39 AM

You've probably just screwed yourself. a 1.9MH scrypt miner would probably be a little less completely unheard of.

I did try to engage you in conversation by pm yesterday to offer you advice on what to do but you didn't reply to me. If you just run headfirst, arms flailing into every situation without doing the proper checks, you are going to f*ck yourself. If you haven't already.

Everyone was saying to try to get my miner, that's what I did, I went to sleep before I saw your message.
ALSO, no I did not get scammed, if I can make 300-400$ I can buy another GPU, and so on.
Hardware doesn't loose value.

h3rlihy

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Activity: 356

Merit: 250

You've probably just screwed yourself. a 1.9MH scrypt miner would probably be a little less completely unheard of.

I did try to engage you in conversation by pm yesterday to offer you advice on what to do but you didn't reply to me. If you just run headfirst, arms flailing into every situation without doing the proper checks, you are going to f*ck yourself. If you haven't already.

sharted

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Quote from: Thyatis on February 05, 2014, 09:00:41 AM

Quote from: sharted on February 05, 2014, 08:47:51 AM

Quote from: suukool on February 05, 2014, 03:36:24 AM

Would a 1.9 MH scryptminer be profitable in two weeks (when I receive the miner from Singapore)
Or did I just royally screw myself out of 1700$.
I've been saving for almost a year to get a miner, finally got one.
I don't pay for my electricity so that's not a problem, but I just looked into how difficulty works, Do you really think it could jump past 3000 in two weeks?

Everyone seems to be ignoring the fact that there is no such thing as a "scryptminer." There are graphics card yes, but no ASICS, which it sounds like you have purchased. Where did you get this from? What website? Also, I just mine coins myself going by their current value because I don't trust multicoin sites. For one they don't mine the most profitable coin because they don't mine every coin. They mine the most profitable coin from THEIR own personal list of coins, so yeah. I make a batch file for each worthy altcoin so switching take sme 5 seconds. That's just how I do it though but if you're new then perhaps a multipool is best until you get the hang of it.

Fyi there is scrypt miners out, they are usb keys. Look around on the forum they are both btc and scrypt miners.

FYI, they don't mine anywhere near 1.7MH/s and as someone else just mentioned there are MANY scam sites offering these "miners". So whatever tell the new guy that he just bought a legit device, when in reality he has probably been scammed. This is why I stay away from forums, too many people just want to argue.

ghur

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If you're not paying electricity then yes, you've slightly screwed yourself.
If you would have gotten a bunch of GPUs and and some hardware to support it you would have gotten double the hashing power for that money.
The main difference being it would consume more power and you're certain you're not being scammed by one of the many many scamsites claiming to sell scryptminers.

Thyatis

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Activity: 252

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Quote from: sharted on February 05, 2014, 08:47:51 AM

Quote from: suukool on February 05, 2014, 03:36:24 AM

Would a 1.9 MH scryptminer be profitable in two weeks (when I receive the miner from Singapore)
Or did I just royally screw myself out of 1700$.
I've been saving for almost a year to get a miner, finally got one.
I don't pay for my electricity so that's not a problem, but I just looked into how difficulty works, Do you really think it could jump past 3000 in two weeks?

Everyone seems to be ignoring the fact that there is no such thing as a "scryptminer." There are graphics card yes, but no ASICS, which it sounds like you have purchased. Where did you get this from? What website? Also, I just mine coins myself going by their current value because I don't trust multicoin sites. For one they don't mine the most profitable coin because they don't mine every coin. They mine the most profitable coin from THEIR own personal list of coins, so yeah. I make a batch file for each worthy altcoin so switching take sme 5 seconds. That's just how I do it though but if you're new then perhaps a multipool is best until you get the hang of it.

Fyi there is scrypt miners out, they are usb keys. Look around on the forum they are both btc and scrypt miners.

sharted

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Activity: 210

Merit: 101

Quote from: suukool on February 05, 2014, 03:36:24 AM

Would a 1.9 MH scryptminer be profitable in two weeks (when I receive the miner from Singapore)
Or did I just royally screw myself out of 1700$.
I've been saving for almost a year to get a miner, finally got one.
I don't pay for my electricity so that's not a problem, but I just looked into how difficulty works, Do you really think it could jump past 3000 in two weeks?

Everyone seems to be ignoring the fact that there is no such thing as a "scryptminer." There are graphics card yes, but no ASICS, which it sounds like you have purchased. Where did you get this from? What website? Also, I just mine coins myself going by their current value because I don't trust multicoin sites. For one they don't mine the most profitable coin because they don't mine every coin. They mine the most profitable coin from THEIR own personal list of coins, so yeah. I make a batch file for each worthy altcoin so switching take sme 5 seconds. That's just how I do it though but if you're new then perhaps a multipool is best until you get the hang of it.

atp1916

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Activity: 854

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Congratulations on your new miner!

You have to pay to play in this type of endeavor. However, you didn't screw yourself cause there's a pool out there called Middlecoin which doesn't give a rip about static ROI estimates.

Middlecoin mines most profitable altcoin and sidesteps the difficulty of major coins like Litecoin. You can have so-so days and then awesome days where you make x2-x3 what you normally would.

Hook that bad boy up already and don't look back.

Wipeout2097

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Quote from: mdmx on February 05, 2014, 04:56:48 AM

Based on my estimates..

1.9MH/s will net you ~25$/day which is 25$/day without electricity costs (as you pay none, it's 0$/electricity).

1700$ (Rig Cost) / 25$ (profit/day) = 68 days to break even, so a little over 2 months just to break even on your hardware.

A bit optimistic. 1.9 Mh/s will not net you 0.03 BTC/day

Topic: Help! Need to know if I just screwed myself. (Read 1281 times)