Topic: I'm gong to invest $400 in to a new computer for bitcoin mining, is it worth it? (Read 1821 times)
September 08, 2011, 10:53:10 PM
I'm kinda in the same boat, just getting started and wondering how much to actually invest in all this. Since I don't pay for electric, it's a little easier, but I don't want to spent a fortune for a little experiment if it's not going to pan out.
September 08, 2011, 06:33:44 PM
Having a hard time finding the 5830 for ~$100, but the 6770 is looking like a good alternative for that price point.
September 08, 2011, 04:37:51 PM
Zakcy,
No.
No.
September 08, 2011, 04:27:16 PM
September 08, 2011, 04:13:06 PM
Interesting article! I am wondering how much the guys are making who are taking the mining seriously. And how much they have invested on it. If someone wants to share his story, I'd be happy to listen!
September 08, 2011, 12:59:31 PM
What's so much RAM needed for?
It isn't, but just try to find anything smaller.
Besides, $8.99 is pretty cheap.
September 08, 2011, 12:56:47 PM
What's so much RAM needed for?
September 08, 2011, 12:02:53 PM
$350 can put together a machine that does ~400MHash/s and consumes ~200W
This will only be profitable over a long time frame, so you have to ask yourself: how do I feel about bitcoin's long term prospects?
If you like bitcoin's prospects long-term, then this could work out for you.
Details of the $350 machine:
E35M1-M Pro
1GB DDR3 1066
2GB USB Flash drive
Basic mid-ATX tower w/ 500W PS
PCIe x1 to x16 riser
2 x HD6770
EDIT: Obviously, without a hard drve, you need to use something like linuxcoin on the USB drive
This will only be profitable over a long time frame, so you have to ask yourself: how do I feel about bitcoin's long term prospects?
If you like bitcoin's prospects long-term, then this could work out for you.
Details of the $350 machine:
E35M1-M Pro
1GB DDR3 1066
2GB USB Flash drive
Basic mid-ATX tower w/ 500W PS
PCIe x1 to x16 riser
2 x HD6770
EDIT: Obviously, without a hard drve, you need to use something like linuxcoin on the USB drive
September 08, 2011, 11:07:52 AM
where?
September 08, 2011, 07:01:59 AM
$400 isnt gonna cut it. If you plan to mine with one card dont bother. Get yourself 2 or 3 5830s. They are good earners and you can get them for around $100.
September 07, 2011, 01:17:41 PM
Well and the local hackerspace here in town will allow you free electricity for a server (if you pay the membership due of $40 a month). Might make it more worth it to help re-coup some of the cost of the hackerspace by mining bitcoins
September 07, 2011, 12:22:50 PM
I wanna buy 25 PC's from old Games Club with free electricity. If you haven't free power - ROI will be very small.
September 07, 2011, 07:55:57 AM
I've done a bit of legwork for you by filling in a calculator with relevant values based on your question--> http://bitcoinx.com/profit/index.php?hashrate=400&cost=350&electricity=0.15&power=220&months=3.0000&decline=0.50
In that filled out calculator (see^), I've simplified and swung the numbers in your favor by quite a bit in terms of values and circumstance.
Look at the calculator I've filled in alongside while I explain why even with this handicapping of figures you'd be foolhearty to begin mining along the mindset of the approach you asked about:
I've assumed you spend that $350 on a new AMD 6970 placed in a current system- I'll reference this in the proceeding...
- The second box's value of 50BTC/block is a lofty, but unachievable (realistically)
- the 'hash rate' box I filled with a value attainable on a 6970 with a mild overclock
- in the next box I left the.15 cents/K=kWh but it depends on what you pay where you live (I have a rate of 13.5 cents/kWh)
- in filling in the pwr consumption box with 220W I've given you a huge break- this figure discounts the remaining non-gpu portion of your hypothetical computer. Also, 220W is a bit low considering the overclock to reach 400MH/s
- I left the timeframe at a quarter of a year
- $350 is ONLY the cost of a GPU NOT a new computer as you asked about
Since it wasn't directly answered above, I'll also tell you that you can find a conversion rate for BTC/$ at any of the exchanges, and a site like http://www.bitcoincharts.com will show you an overview of the latest exchange prices.
Use the calculator provided above to see how many BTC/day you could mine, and you'll see that if things work out well (prices stay the same or go up, difficulty stays the same or lower) then you could be making $1.53/day before electricity costs!
Of course if you're like me, you can "justify" buying a new computer/new graphics card (6870 for $185) on the assumption that you needed a new graphics card, and hey, if you make any money back mining with it, good for you.
Good luck.
September 07, 2011, 07:23:30 AM
Not sure of your energy situation but if it's as bad as mine, .35 USD/kWh, I'd like to suggest the contract mining route as a possibility. Shakaru's services might be up your alley, https://bitcointalksearch.org/topic/shades-minoco-a-different-type-of-mining-company-36375. There are also others out there but his prices are the best deal you will find even if they are a little over your stated budget.
September 06, 2011, 11:30:23 AM
Nah, bro, dont do that. Not a good idea
September 05, 2011, 10:52:19 PM
I have a 850Mhash/s rig for the low low price of ~$200. 
watcha got in thar? September 05, 2011, 10:28:03 PM
I have a 850Mhash/s rig for the low low price of ~$200.
Oh? Just out of curiousity. What are the specs?
I second that... what all do you have in your rig? If you dont mind sharing!
September 05, 2011, 10:20:45 PM
It's too late to get into mining if you hope to make any money.
September 05, 2011, 08:47:28 PM
Mining is for fools, best to find a new way to make cash at this point if you aren't already raking in bitcoins.
September 05, 2011, 07:44:45 PM
I have a 850Mhash/s rig for the low low price of ~$200.
Oh? Just out of curiousity. What are the specs?
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