Topic: Just purchased my first miner!!!! It'll be here in 2 days (Read 1105 times)
I picked up an alienware area 51 alx at the dell outlet for $1800 and it came with a 5970. That is a system I will use for the next few years instead of a disposable mining rig. I added a 6870 as my primary display and leave the 5970 mining 24/7 with no ill effects on playing games and watching videos.
So does this mean that 3x 5970s just freed up on Newegg? Drool...
I would just order the gaming computer that you always wanted, just one of those 5970s or two crossfired 5870s on a Sandy Bridge Intel 2500k mobo with 2x2gb ddr3 and an SSD boot drive. A decent quality 750w PS like Antec Earthwatts 750 would be fine. Bitcoin mining might make now the time to upgrade to a nicer computer than you would have bought otherwise, since it will still earn you funny money.
If I have learned one thing about bitcoin so far it has been that you can never be too sure on what the future difficulty adjustments will be. I bought a mining rig about 3 months ago, and it ended up paying for itself rather quickly. I still would have made more if I had just invested the $1,500 in btc itself. But at least I got a free computer out of the deal!
In general though it does make sense that I would have made more money investing in the hard currency on a risk/reward thought....
mining rig=low risk, set amount you can lose or make.
Bitcoin=High risk, could lose everything or make millions.
In general though it does make sense that I would have made more money investing in the hard currency on a risk/reward thought....
mining rig=low risk, set amount you can lose or make.
Bitcoin=High risk, could lose everything or make millions.
My previous calculations weren't correct. I hadn't realized the extent that the difficulty increase would cut into profits. I am canceling my order now 
At least you got to cancel before it arrived, was very dissapointed when I cancelled mine ~ a week ago after a very rough ROI calculation. I wish there had been a way for this project to be worthwhile for the small guy up until its conclusion (coin mining wise).
Feel free to ask questions/comments
Have you worked out the very ~ lifetime ROI on this?
I ask this question as I am currently under the impression you will only get back a fraction of its costs (and would like to be convinced otherwise as I have cancelled a dedicated machine I had on order)
My previous calculations weren't correct. I hadn't realized the extent that the difficulty increase would cut into profits. I am canceling my order now
But to answer your question, at 2 Ghash/s at $17
| Month | BTC | USD |
| 1 | 30.6 | $520.2 |
| 2 | 10.04 | $170.68 |
| 3 | 3.29 | $55.93 |
| Total | 42.93 | $746.81 |
And with the $91.59/month in electricity costs, I'd be left with about $472.04. So finally after 3 months I'd still be -$1965.57.
This would be only marginally worse if I resold all of the hardware for 40% of their original value, $948.33. Then I'd be -$1017.24
I decided to look at it with a mining pool and this is what I found.
Current Round
Total Pool Ghash/s 1906.47
My Ghash/s 2
Pool Shares 201,669
My Share of Shares 211.6
Estimated Growth 45%
USD Rate $17
| Month | Pool $ | My Share |
| 1 | $520,216.10 | $545.83 |
| 2 | $170,639.54 | $179.04 |
| 3 | $55,972.67 | $58.73 |
| Total | $746,828.31 | $783.60 |
Given this minuscule $36.79 increase, I'd still be -$980.45
Having seen these numbers, at this point in the mining game you'd be better off starting a mining pool to compete with the big ones. This particular pool, if charging a 2% use fee, would generate +$14,936.57 in 3 months!!!!
Now that's where the real money is at.
To make these calculations I used this calculator: http://striketeam.ath.cx/btccalc/btccalc.php
And I used the numbers from this mining pool: http://mining.bitcoin.cz/stats/
Check em' out!!!! They're both pretty cool
I don't understand why people are still buying rigs. At ~17USD/12EUR and with difficulty already above 1.3m it's almost at a loss!
Good luck though...
.
Good luck though...
.
Feel free to ask questions/comments
Have you worked out the very ~ lifetime ROI on this?
I ask this question as I am currently under the impression you will only get back a fraction of its costs (and would like to be convinced otherwise as I have cancelled a dedicated machine I had on order)
Indeed
Is that a good deal?
Just purchased my first dedicated miner from NewEgg, and it'll be here with 2 Day Air shipping. In case anyone is curious, here is a breakdown of the types of parts, the costs, the urls and what I paid in shipping
All shipping was to Oregon, so that will vary depending on where you live, but shouldn't be too much more unless you live in Hawaii, Alaska, Puerto Rico, or somewhere outside the US.
I'll post pictures of the setup and details of the configurations once I have it all ready Should be up by next week )))
Feel free to ask questions/comments
As always, Happy Mining
| Chassis | APEX PC-389-C Black Steel ATX Mid Tower | $19.99 | http://tinyurl.com/n9x9ku |
| Power Supply | CORSAIR AX1200 1200W, 80 PLUS Certified | $279.99 | http://tinyurl.com/65kbalo |
| Motherboard | MSI 890FXA-GD70 | $184.99 | http://tinyurl.com/6yswors |
| CPU | AMD Sempron 140 | $37.99 | http://tinyurl.com/5wjuzeb |
| Memory | 2GB DDR3 | $17.99 | http://tinyurl.com/6e9kkdf |
| Graphics card | 3 * Visiontek Radeon HD 5970 - Refurbished | $1,799.99 ($599.99 × 3) | http://tinyurl.com/62hxqpl |
| Storage | Western Digital 40gb Internal Hard Drive | $9.99 | http://tinyurl.com/657r8tf |
| Thermal Compound | Arctic Silver 5 Thermal Compound - OEM | $11.98 | http://tinyurl.com/63xt2af |
| Fan 80mm | XIGMATEK Series CLF-F8255 80mm | $9.99 | http://tinyurl.com/64grqpp |
| Fan 120mm | XIGMATEK Series CLF-F8255 120mm | $9.99 | http://tinyurl.com/5rzc3wx |
| NewEgg Shipping | 2 Day Air (PSU, Mobo, SPU, RAM, Hard Drive, Thermal, Fans) | $0.00 | 30-Day Free Trial with ShopRunner includes FREE 2-Day Shipping |
| NewEgg Shipping | 3 Day Air (Case) | $9.99 | 3-Day Shipping just for the case |
| NewEgg Rush | Rush Order | $2.99 | Just so they will hurry up and send my stuff |
| Unity Electronics Shipping 1 | 2 Day Air | $23.08 | Only reason there are 2 is because I had to split between 2 cards, |
| Unity Electronics Shipping 2 | 2 Day Air | 18.68 | so I could earn the milage on my United Airlines card |
| Total | Approximate Mhashes 2011.1754 | $2,437.61 | $1.21203253 per Mhash |
All shipping was to Oregon, so that will vary depending on where you live, but shouldn't be too much more unless you live in Hawaii, Alaska, Puerto Rico, or somewhere outside the US.
I'll post pictures of the setup and details of the configurations once I have it all ready
Should be up by next week )))Feel free to ask questions/comments
As always, Happy Mining
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