Topic: I am in China, want to invest in hardware - need guidance (Read 590 times)

Thanks for staying on topic. I was thinking of using custom GPU racks, but I am not sure if I should pull the trigger now
on rx480/470 or wait for something new and better to come out.

I have a location, that's not the problem and I know an electrician who will "make things work".

As I said, the only thing I am stuck with is the hardware in order to get some quality ROI. Thats where I need some advice from you pro's. 

Mostly people are using radeon for mining altcoin, Like rx480, rx470, r9 and others. You can try to search through the search engine about the comparison and efficiency of every graphic card. I see average people are using it for mine altcoin such as ether, monero and dash.

Actually you are too late, but IMO newbies don't mine at all, there are so many traps and lessons you need to learn, which is a hard and tough job. I have known bitcoin since 2013, but I never mine, I only trade, fortunately I made 200k USD in 3 years from trading, if I mine? I can't compete with Chinese free electricity miners.

You have 5-10k USD for budget? Come on, my trading journey started with 5k usd. Now is 200k usd.    Forget to tell you, those Chinese rich miners mostly invest 1 million usd when they came into the mining industry.

What algorithm are you targeting for your mining operation? What are the targeted coins? Will you use miners or GPU?

What space do you have available(I hope the $10k won't include the price of a location)?

How much electricity does the installations from your place support

Just a friendly advice. Always buy the latest version of any moner so that it will fave you more and efficient on electricity. And hire also an electrician for setting if ever you don't have enough knowledge on electricity.

maybe you can invest your money to buy new pc with 4-6 slots for vga cards, for vga cards, maybe you can use rx 470 or rx 480 or search for the best vga cards for mining. for power supply, i think you need power supply for gamer for example 1000 watt or so. this is what i've read on another forum and maybe it would useful for you.

and for the coins, i will suggest to mining, ETC, ETH, or ZEC or other altcoin, or you can switch for couple of day and then start mining with different coins so you can make compare from one coins int other coins and you will know what is the best coins that suits for you and profitable for you.

Thanks for responding. Yes, like I've said electricity is cheap in China if not the cheapest, so that's not a problem.
I was thinking of using cards with a bigger hasrate but bad energy consumption, but I need some details.

As I said, I am a complete newbie

Good you mentioned you are already late to the party, but there are still good and profitable Altcoins to mine like Zcash, Eth and ETC. The main thing is electricity if you can get free or low priced electicity it worth investing in Altcoin mining

Hi,

I know that I might be a little late to the party, however when I see how many people are still mining I can't just shake the feeling that I can still start mining too.

I was actually looking for ways how to invest 5-10k with a good annual return when Bitcoin crossed my mind. As a newbie and a day of reading blogs and post here I quickly
realised that mining Bitcoin wouldn't make sense for me and I started looking at Alt. Man, what a mess

Now, obviously electricity prices here in China are pretty low, however the hardware seems about 20% more expensive than let's say Amazon or in the US. In theory, I would like to have
a rack that would be able to return the investment within 6-8 months, but i understand that altcoins are very volatile and that there are no guarantees.

Nevertheless, I would like to try and I am asking for your advice, or what you would do in my situation. Here the details:

1/ $2-8k investment for hardware 
2/ Cheap electricity - Location in China (unfortunately I do NOT need heat)
3/ Expected ROI of 3 - 9 months

Of course 3 months is unrealistic, but bottom line - what is possible? Again, I am a newbie but in order to minimize risk I would probably mine several different coins at a 30/70 ratio (30 risky / 70  stable).
Of course that might be complete BS, you know better - let me know.

Any advice would be highly appreciated!
George