Is GPU mining even worth an investment? - page 3.

cr1776

legendary

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Quote from: russ_bt on February 05, 2014, 08:32:14 PM

Quote from: topminingcontracts on February 05, 2014, 04:24:38 PM

For bitcoins sure is not a good idea

Hi - I'm brand new here, and brand new to mining.

RE: Mining bitcoin via GPU not being a good idea - is this because of the difficulty curve that I read about, which adjusts as more bitcoin are mined, and as technology advances?

Thanks!

GPU mining for bitcoin no longer makes sense. The power per hash is large compared to ASICs and the speed is slow. And it is only getting worse.

FlyForFun

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Quote from: HellRaiser99 on February 05, 2014, 02:00:44 PM

I am trying to build a dedicated mining rig with a budget of roughly 10K.

Should I buy a bunch of GPUs run the hell out of them, and them sell them when the ASICs chips come out?

I hear a lot about how GPU mining is not worth the investment, but if you are new and want to front run the ASICs cards. And then use profits to purchase to upgrade is this a feasible solution?

You would be better off buying those ASICs now, a lot of manufacturer already selling them..

Noruka

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Quote from: HellRaiser99 on February 05, 2014, 02:00:44 PM

I am trying to build a dedicated mining rig with a budget of roughly 10K.

Should I buy a bunch of GPUs run the hell out of them, and them sell them when the ASICs chips come out?

I hear a lot about how GPU mining is not worth the investment, but if you are new and want to front run the ASICs cards. And then use profits to purchase to upgrade is this a feasible solution?

yes in scrypt, not in SHA. Right now you can mine more BTC per $ if you build scrypt machines (including electricity) than buying an equal costly SHA machine.

joele

legendary

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Mine altcoins using multi mining pool, combine it with CPU mining and If electricity is cheap then it can be profitable.

russ_bt

newbie

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Quote from: topminingcontracts on February 05, 2014, 04:24:38 PM

For bitcoins sure is not a good idea

Hi - I'm brand new here, and brand new to mining.

RE: Mining bitcoin via GPU not being a good idea - is this because of the difficulty curve that I read about, which adjusts as more bitcoin are mined, and as technology advances?

Thanks!

HellRaiser99

newbie

Activity: 5

Merit: 0

It's so hard to figure out what the best bang for the buck is with the upcoming hardware coming out.

The Antminer S1s do not look to bad, but how quickly will they stop breaking even in the near future?

I know that I could hold onto a few for a x-amount of time, toss it on ebay and screw some poor person.

Hmm, decisions, decisions.

I would rather not buy straight bit coins because I have some thing up my sleeve.

Any help would be welcome because I am looking to start ASAP.

somenormalguy

newbie

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Merit: 0

Only worth it for mining altcoins. As to how long, depends on how long ASIC's (alpha technology and others) takes to ship.

nezarkadhem

member

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Have a look at Alpha Technology. They are promising the first ASIC scrypt miner. I have a group buy going if you are interested.

topminingcontracts

hero member

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TaaS is a closed-end fund designated to blockchain

For bitcoins sure is not a good idea

vpasic

sr. member

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don't!
it's not profitable anymore IMHO.
gpu-s are expensive, high power consumption and scrypt asic-s are behind corner.
you'll never gonna make ROI.
if you think you'll gonna resell those gpu-s think again. shit load of them will be for sale everywhere after people stop mining with them! if you think people will made up some XY coin with XY algo to keep gpu-s in mining business think again.
my advice, keep away from gpu mining.
wait for next generation of miners (5-7TH) since there is no peace of asic gear worth of buying right now and be fast on buying.

Hexah

sr. member

Activity: 728

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Quote from: HellRaiser99 on February 05, 2014, 02:00:44 PM

I am trying to build a dedicated mining rig with a budget of roughly 10K.

Should I buy a bunch of GPUs run the hell out of them, and them sell them when the ASICs chips come out?

I hear a lot about how GPU mining is not worth the investment, but if you are new and want to front run the ASICs cards. And then use profits to purchase to upgrade is this a feasible solution?

A lot of ASIC chips are already out there hashing. Unfortunately GPU mining is working only for altcoins nowdays - ASIC is far more effective and profitable. But then again - you have to invest A LOT to gain a profit out of it.

HellRaiser99

newbie

Activity: 5

Merit: 0

I am trying to build a dedicated mining rig with a budget of roughly 10K.

Should I buy a bunch of GPUs run the hell out of them, and them sell them when the ASICs chips come out?

I hear a lot about how GPU mining is not worth the investment, but if you are new and want to front run the ASICs cards. And then use profits to purchase to upgrade is this a feasible solution?

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