I am willing to get a mining rig. Opinions?

hasher87

hero member

Activity: 686

Merit: 500

I bought a customized rig back in March, in which the purpose was a gaming rig

Now that bitcoin has come to my attention, it does tempted me to upgrade my current rig lol

At the moment, this is my rig:
i5 3470
Asrock Z77 Extreme4 (2 PCI-E x16)
HD7850 (320mhash/s) - Average of 0.08/0.1 per week of mining
650w

Planning to sell my GPU/PSU and get this instead:
HD7970 (650-800mhash/s)
850W (for future crossfirex)

Grin

Keevarou

newbie

Activity: 14

Merit: 0

Quote from: pedromtorres on May 17, 2013, 11:41:20 AM

Hi have been reading few stuff about bitcoin mining. The most interesting until now for me was the BFL jalapeno. but they're still not shipping... and it would take a lot to get them.
I am wanted to get one right away. I was looking to get a whole PC with graphic cards, but i saw someone saying i wouldnt get my money back.
I saw this Klondike board someone in this forum is developping. And the other mini usb board, but it costs 300$ for 300mh/s which i think is very expensive!

any ideas?

Let me see, if you want to get a mining rig, you should go for a gaming pc/mining rig, with a decent CPU so you can play games after you stop mining, and so it can have resell value

darkcrayon

newbie

Activity: 11

Merit: 0

Quote from: GuiltySpark343 on May 17, 2013, 07:28:07 PM

Ask yourself why you want to get a mining rig? For fun? A hobby? Or to become rich? If it is for fun or hobby, then great! If it is to become rich, forget it!

True, but there is a little place in the middle where it could make a little extra "pocket change", like pay for your electricity, or buy you lunch every day

Le lubéron

newbie

Activity: 13

Merit: 0

[Suspicious link removed]

Huh

a simple post with no link auto moderated.... intresting

cheez0r

newbie

Activity: 6

Merit: 0

I'm still running my 6950s while I wait for my ASICs to ship; when they show up I'm pulling the cards out of it and it'll become the ASIC controller for all of my various ASIC boards. No sense not running them as they remain profitable thanks to very low electricity costs.

etayel

newbie

Activity: 34

Merit: 0

you can check other coins to mine, if you will mine a new coin and he will hit a exchange market you will make some money.

Republicoin

newbie

Activity: 29

Merit: 0

Don't skimp on fans!

Malawi

full member

Activity: 224

Merit: 100

One bitcoin to rule them all!

Quote from: IonicHaxor on May 18, 2013, 07:03:58 AM

Thank you a lot for your help:
Malawi
tingwahk
GuiltySpark343
and
odolvlobo

Grin

that help me a lot to understant more and the best way to start it... well i prefer mining because i work 24h/5d per week and i can't go home or use any PC in that time, so it's just awsome if i can produce some profit when i'm not home.

Impressive, I used to work 25hrs a day and sleep 2 minutes every christmas. But then I lived in a cardbox, now I have a wooden crate and only work 20hrs a day.

IonicHaxor

newbie

Activity: 4

Merit: 0

Thank you a lot for your help:
Malawi
tingwahk
GuiltySpark343
and
odolvlobo

Grin

that help me a lot to understant more and the best way to start it... well i prefer mining because i work 24h/5d per week and i can't go home or use any PC in that time, so it's just awsome if i can produce some profit when i'm not home.

Well with that list and that calculator i can see how to start! Cheesy

Thank you for making me spend some money on this xD my wife will apreciate that haha!

I will be back with some news and more questions if you don't mind!

11Blade

newbie

Activity: 15

Merit: 0

Quote from: GuiltySpark343 on May 17, 2013, 09:38:29 PM

Quote from: 11Blade on May 17, 2013, 09:21:50 PM

You are more likely to make more money [...] buying bitcoins and letting them appreciate.

I tell my Bitcoins I appreciate them every day! My Litecoins on the other hand ... Cheesy

those damn litecoins.. no respect

impatrick

newbie

Activity: 28

Merit: 0

Don't buy a rig, buy Bitcoins. You can't even come close to profitability. Be an investor, not a miner.

GuiltySpark343

member

Activity: 98

Merit: 10

Quote from: 11Blade on May 17, 2013, 09:21:50 PM

You are more likely to make more money [...] buying bitcoins and letting them appreciate.

I tell my Bitcoins I appreciate them every day! My Litecoins on the other hand ... Cheesy

11Blade

newbie

Activity: 15

Merit: 0

You are more likely to make more money by using the money for your mining rig and buying bitcoins and letting them appreciate.

GRILLMASTER

newbie

Activity: 10

Merit: 0

You should just buy bitcoins.

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: GuiltySpark343 on May 17, 2013, 07:28:07 PM

Ask yourself why you want to get a mining rig? For fun? A hobby? Or to become rich? If it is for fun or hobby, then great! If it is to become rich, forget it!

You can get any cheap computer, cheap CPU/RAM. Don't need a big HDD or SDD. Most important is the GPU and a big enough power supply unit to run it. Definitely get AMD GPU, not Nvidia for mining.

As others said, go here and pick a GPU, but most people think a 7950 is a great choice for price/watt and price/hash ratio:
https://en.bitcoin.it/wiki/Mining_hardware_comparison

Now take the hash rate (NOT MHz speed) of the GPU you picked and put into calculator:
http://www.bitcoinx.com/profit/

For a 7950 with 550 MH/s, you will get about 0.0247 BTC/day at current network difficulty level. Keep in mind that as the network's whole hash rate increases, the difficulty will also increase. Meaning you will earn less and less BTC over time.

Good advice. Let's say you buy a cheap computer with a 7950. It will cost you $600 or so ($300 for the 7950).

If you mine 0.0247 BTC/day, you will make about $3 per day at the current price, but don't forget about electricity. Electricity rates vary, but let's say electricity costs $0.75/day. The net is then $2.25/day.

At $2.25/day, you will pay for your mining equipment and start making a profit in about 9 months.

chauncywicks

newbie

Activity: 35

Merit: 0

I'd diversify with a number of ASIC providers, and start small. Find the company that you like and stick with them.

GuiltySpark343

member

Activity: 98

Merit: 10

Ask yourself why you want to get a mining rig? For fun? A hobby? Or to become rich? If it is for fun or hobby, then great! If it is to become rich, forget it!

You can get any cheap computer, cheap CPU/RAM. Don't need a big HDD or SDD. Most important is the GPU and a big enough power supply unit to run it. Definitely get AMD GPU, not Nvidia for mining.

As others said, go here and pick a GPU, but most people think a 7950 is a great choice for price/watt and price/hash ratio:
https://en.bitcoin.it/wiki/Mining_hardware_comparison

Now take the hash rate (NOT MHz speed) of the GPU you picked and put into calculator:
http://www.bitcoinx.com/profit/

For a 7950 with 550 MH/s, you will get about 0.0247 BTC/day at current network difficulty level. Keep in mind that as the network's whole hash rate increases, the difficulty will also increase. Meaning you will earn less and less BTC over time.

tingwahk

newbie

Activity: 37

Merit: 0

You can see how much BTC you can mine using this calculator
http://www.bitcoinx.com/profit/

You'll need to know the Mhz speed of the equipment which you can get
https://en.bitcoin.it/wiki/Mining_hardware_comparison

Malawi

full member

Activity: 224

Merit: 100

One bitcoin to rule them all!

Quote from: IonicHaxor on May 17, 2013, 06:04:35 PM

Quote from: Malawi on May 17, 2013, 05:56:36 PM

Sorry... Not really. It will most likely give less than 20Mhash.

Unless you have free power, it will cost more to mine than the result is worth.

I will get free power in some weeks, can i tell me more or less how mutch bitcoins can that give me in a month with 2 or 3 grafic card like that?

The thing is that i can get it for 20€ so its a good deal if i can mine some good stuff to get some profit, just to see how it works before i make a big investiment.

By the way, thank you very muth for the answer Cheesy

We are talking in the range of 0.0009BTC/0.11$ per 24 hrs/card at current difficulty and price. The difficulty will only go up(quite steeply if there is a flood of ASCIS). Prices are more uncertain, so I leave it to you to evaluate that part.

BTW: 20Mhash is a high evaluation, 15Mhash would be a more certain output.

I would advice against buying the cards unless it's just for the fun of it. You are not likely to make any profit even with free electricity unless you can mine a month or three for less than $10/card and then sell the cards at the same price you bought them at.

IonicHaxor

newbie

Activity: 4

Merit: 0

Quote from: Malawi on May 17, 2013, 05:56:36 PM

Sorry... Not really. It will most likely give less than 20Mhash.

Unless you have free power, it will cost more to mine than the result is worth.

I will get free power in some weeks, can i tell me more or less how mutch bitcoins can that give me in a month with 2 or 3 grafic card like that?

The thing is that i can get it for 20€ so its a good deal if i can mine some good stuff to get some profit, just to see how it works before i make a big investiment.

By the way, thank you very muth for the answer Cheesy

Topic: I am willing to get a mining rig. Opinions? (Read 1209 times)