Topic: Newbie first system build - page 2. (Read 2361 times)

How much does electricity take away from your LTC mining profits?  Electricity can get pretty expensive in the summer, and I would imagine eat a big chunk of your profits, depending on where you live 

if you have any spare gfx cards that are "not profitable" you can give them to me to join my 83 "non profitable" cards lol

GPU Mining is not profitable now.

Thank so much for the input. Any info is good info for me :-)

In summary, buying a GPU based mining computer system will:

- Definitely not make your initial investment back if you directly mine for BTC (either solo or in a pool). *Unless you have amazingly cheap or free electricity
- Might make  you some money if you mine a good altcoin, the consensus is litecoin, but there are alternatives that are not based on scrypt

On the other hand, since it came up:

- You will DEFINITELY NOT make any money buying block erupter USB's unless they drop in price substantially again (down to 0.25 BTC or less to even consider it)

And using other ASIC hardware well that is irrelevant since there's thousands of people here who want to beat you to getting their hands on that hardware first... so good luck!

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Pics or it didn't happen. That's a lot of power, a lot of heat, and a lot of hardware (at least $1200 worth, with waterblocks) to just have sitting around. I'd be interested to see your setup, if you really do have it.

I have heard that the way to go are pools so you get more money combining the mining power.

I will try to play with that I got and see what kind of rate I get with this old GTXs lol

Thanks for all of the great info guys!!!

I would recommend joining a mining pool like http://bitminter.com/ to get started.  I started mining earlier in the year and BitMinter was easy to run and go.  Over the months I've learned a lot and moved on to using cgminer software with the BitMinter pool.  I recommend it if you're just starting out.  Plus joining a mining pool will give you more consistent income.  Good luck!!

I just started myself on Cryptomining, crying that I missed the Bitcoin stampede last year!  The DIFF has exploded since March as the ASIC's have come online.
Thumbs up to trying for LTC, but I've also had "fun" going for CHN Coin, American Coin (with a li'l old GT520 that was dusty and lonely!) and putting some Feathercoins
in my Cap... just in case any of them explode like BTC did!!  The newer coins will have a lower DIFF level so you'll feel richer, quicker! 

I had a box of "CAD classroom rig" spares:  GTX650's and super "RAM'd" GT630's (4Gig!!) and currently have them paired up two to a machine
(I leave a GT520 on as a display driver on my main rig to run the display without lagging or taking away from the main miner)
They don't run too hot, and being in the basement of a large school, plenty of chilly air to blow across them for free!!  (free juice is nice too)!

I use cudaminer on them and it's working fine for past 4 months.  You do have to use a stratum proxy, but at least the program boosts Nvidia Mining approx
10 - 25% !!  (sadly Nvidia's Suck Donkey at BTC mining!!! )

GitHub has the Stratum proxy and Cudaminer for download.  When using the Proxy, make sure to chop off everything, including the double // before the pool name.
The Proxy doesn't need that info, and I've seen that tidbit mess people up!  And make SURE you plug in the correct Port Number!!!

Good Luck!

Will do. My cousin was supposed to help me setup the new systems once I build them but it looks like they won't be here until Monday. I do have a precision 380 from dell with dual GTX260 cards. I know they are old, but I was going to try to use them and start to see how this all works so I am more familiar when i build the systems.

I personally use reaper to mine ltc or any other alt coin best bet is to search the net on how to use reaper and if you get stuck message me 

I heard that BTCs are very difficult to generate so I was going to go for LTC first. I am assuming that the config files have to be different for them.

what are you mining ? I get 630hk+ per card on my 7950s 1050mhz core 1250mhz ram 1.050v core using reaper intensity 20

Holy crap Zack. 83 cards man? LOL Thats insane!!

Yeah that would be a good idea about the blog. I was thinking of getting 2 more cards, but going with the 7970 instead of the 7950. The hash rare on the 7950 is 400 where on the 7970 it is 600.

Good luck, let us know how it goes -- maybe you should post a blog here -- coins mined, electricity cost, etc.

mining ltc on gpu's still very profitable ( I have 83 7950s )

Have an ASIC miner and/or free electricity? No? Then don't even try, it's not profitable.

if you want a good investment get pxc 

Holy shit didn't realize there were so many other options. My cousin is making money right now doing LTC. My my new setup how much cash can i generate mining BTC at the moment?

Rich coin is another alt that will peril in flames as every that went before him.

richcoin is a good one, http://richcoin.net