how do i expand my mining operations?

empoweoqwj

hero member

Activity: 518

Merit: 500

Quote from: HellDiverUK on January 07, 2014, 10:46:42 AM

Quote from: cooliobongo on January 05, 2014, 11:23:11 PM

i bought a miner with 5 GPU

There's your first mistake. You're a year too late for that sort of mining.

Did you do any research at all before dropping $5k on pointlessly slow and power-sucking hardware?

I don't think you read properly what he wrote. The $5K is for "what to do next" .....

Personally, I wouldn't go for ASIC mining bitcoins - the market is saturated and difficulty too high. Stick with altcoins and trade them for bitcoins.

farkedup

newbie

Activity: 53

Merit: 0

You people suck at reading, he merely said that he currently has a 5GPU rig and has a $5k budget to EXPAND.

I put in 3 new circuits and built a nice big rack. some people using the metal home depot type racks. I built a wood one around box fans to blow over everything. Right now I'm about to start buying some better motherboards and going with 4-5 GPU's a rig instead of the current that is mostly 2 GPU's a rig. The current ones I bought super cheap and just started tossing them up but now that I'm approaching space limitations I'm expanding. I might just move the current motherboards over to a different area though.

wpgdeez

hero member

Activity: 728

Merit: 500

5 GPU miner shouldnt have cost more than $2500 to build and yes you can still make money with GPU's. My GPU's bring in more cash than my overpriced asics now.

Mining altcoins is the way to go rather than straight up LTC, more cash can be made when you convert the coins to BTC or LTC.

Power and heat are your two biggest issues as you grow you farm.

HellDiverUK

hero member

Activity: 1246

Merit: 501

Quote from: cooliobongo on January 05, 2014, 11:23:11 PM

i bought a miner with 5 GPU

There's your first mistake. You're a year too late for that sort of mining.

Did you do any research at all before dropping $5k on pointlessly slow and power-sucking hardware?

empoweoqwj

hero member

Activity: 518

Merit: 500

Quote from: rext on January 07, 2014, 06:21:30 AM

there are certain alt coins that drop difficulty to ridiculous lvls at random intervals, you can try those out:

1. http://www.coinwarz.com/cryptocurrency
2. uncheck sha 256
3. check on Scrypt
3. key in your farm's combined khz
4. key in the Power and Power Cost
5. click on "Calculate Profitability"

See which alt coins gives you the best return rate and the best growth rate (look at their charts). You might want to consider the ease of exchange at cryptsy or btc-e or at other alt coins exchange.

Good advice. Mine coins that are giving a good rate at the time.

rext

full member

Activity: 378

Merit: 100

there are certain alt coins that drop difficulty to ridiculous lvls at random intervals, you can try those out:

1. http://www.coinwarz.com/cryptocurrency
2. uncheck sha 256
3. check on Scrypt
3. key in your farm's combined khz
4. key in the Power and Power Cost
5. click on "Calculate Profitability"

See which alt coins gives you the best return rate and the best growth rate (look at their charts). You might want to consider the ease of exchange at cryptsy or btc-e or at other alt coins exchange.

WinterParker

sr. member

Activity: 356

Merit: 250

Dock.io

I heard digital ocean doesn't let you mine on the droplets anymore. You guys hear about this? Where to go as an alternative???

empoweoqwj

hero member

Activity: 518

Merit: 500

Quote from: cooliobongo on January 05, 2014, 11:23:11 PM

im 21 have 5000$ i bought a miner with 5 GPU but i saw people with over 100 GPU and refineries. how do i compete

choose the right crypto according to which is trending up that week, mine it, and sell the coins

lithod02

member

Activity: 116

Merit: 10

Quote from: traiz on January 06, 2014, 01:56:22 AM

Quote from: lithod02 on January 06, 2014, 01:55:17 AM

dump a lot of money in cloudhashing and check it once a week. thats whats i do Cheesy

Do you actually make a return mining xpm?

yea you can mining and trading it on cryptsy. thats what i have been doing

traiz

newbie

Activity: 40

Merit: 0

Quote from: lithod02 on January 06, 2014, 01:55:17 AM

dump a lot of money in cloudhashing and check it once a week. thats whats i do Cheesy

Do you actually make a return mining xpm?

lithod02

member

Activity: 116

Merit: 10

dump a lot of money in cloudhashing and check it once a week. thats whats i do Cheesy

BeepBeep2

full member

Activity: 184

Merit: 100

Quote from: cooliobongo on January 05, 2014, 11:23:11 PM

im 21 have 5000$ i bought a miner with 5 GPU but i saw people with over 100 GPU and refineries. how do i compete

Spend lots of money.
Spend more on security.
Quit your day job and worship bitcoin and related cryptocurrencies in hopes that it will bring you riches, after you racked up $30K in debt.

cooliobongo

newbie

Activity: 5

Merit: 0

im 21 have 5000$ i bought a miner with 5 GPU but i saw people with over 100 GPU and refineries. how do i compete

Topic: how do i expand my mining operations? (Read 1240 times)