Newbie in mining | Bitcointalksearch.org

carlisle1

hero member

Activity: 2744

Merit: 541

Campaign Management?"Hhampuz" is the Man

Quote from: leonix007 on September 08, 2017, 10:01:36 AM

Quote from: Evening on September 08, 2017, 04:49:13 AM

Hi guys,
I am a new to crypto-currency mining, but I am still willing to start mining in a month. I am planning to invest 50-100K EUR in mining 25-50 GPU mining rigs(6-7 x RX480 i guess) rigs, for Ehtereum/zCash/Monero etc.

I doubt if you can still purchase RX480 with 25-50rigs on that much number, imo, you must planned out how you will purchase those hardware, choose a decent suppliers

Quote

I know about difficulty bombs, as well as Casper coming out in late 2018 (hopefully), but according to my calculations I will still get my investment back in about 12-18 months (I guess I can still sell GPU's after (if mining wont be profitable anymore. I know it is a risky investment, but I guess everything in this market is.

If electricity price is not your concern, then you have an advantage, you must calculate it to the least a gpu can get, if not, then dont do mining.

Quote

Am I missig something, does anyone have a constructive oppinion why would GPU mining be unprofitable soon for sure? Any advices for a noob like me? What rig components would you suggest? Any oppinions about Nicehash (I only found out about it yesterday, so I dont know a lot about it). Any info is more then welcome. Thanks in advance.

if you have cheap electricity in your area, nothing to worry about it, one good thing about nicehash is that payout is being paid into bitcoin.

its already been converted and no chance for miners to choose whether to keep and hold the coin that they mined it will converted to btc right away
for newbies like us nicehash is a friendly software that we can use but if we wanted to maximize our earnings we better needed to look for more info
that would help us to gain much better from our rigs.

Radientgurkin

full member

Activity: 182

Merit: 108

Quote from: Cherrywins on September 08, 2017, 10:13:12 AM

I hope nobody gets angry reading my question: is there any altcoin that I can mine on the ordinary computer? I guess there will be the smallest amounts but I am curious just to try.

A valid question but the easiest is prob to google it or search the forum. My tip would be not to search for one which is profitable now, then the difficulty is already high. Find one you believe in with a low difficulty, then you can cash in on it later down the road.

This thread topic has been covered sooo many times here, but here goes again

As an experienced miner I can say that any newbie miner should first consider all the pros&cons to mining. It's not just to invest in hardware and reap the profits. There are issues to consider like electricity, heat, noise, humidity, broken parts, technical know-how, rising diffulty and spare room to mention a few. Been doing it for a while and still don't know everything, probably never will.

Bottom line is don't spend money you aren't prepared to lose. And have fun doing it.

Cherrywins

newbie

Activity: 21

Merit: 0

I hope nobody gets angry reading my question: is there any altcoin that I can mine on the ordinary computer? I guess there will be the smallest amounts but I am curious just to try.

leonix007

sr. member

Activity: 1008

Merit: 297

Grow with community

Quote from: Evening on September 08, 2017, 04:49:13 AM

Hi guys,
I am a new to crypto-currency mining, but I am still willing to start mining in a month. I am planning to invest 50-100K EUR in mining 25-50 GPU mining rigs(6-7 x RX480 i guess) rigs, for Ehtereum/zCash/Monero etc.

I doubt if you can still purchase RX480 with 25-50rigs on that much number, imo, you must planned out how you will purchase those hardware, choose a decent suppliers

Quote

I know about difficulty bombs, as well as Casper coming out in late 2018 (hopefully), but according to my calculations I will still get my investment back in about 12-18 months (I guess I can still sell GPU's after (if mining wont be profitable anymore. I know it is a risky investment, but I guess everything in this market is.

If electricity price is not your concern, then you have an advantage, you must calculate it to the least a gpu can get, if not, then dont do mining.

Quote

Am I missig something, does anyone have a constructive oppinion why would GPU mining be unprofitable soon for sure? Any advices for a noob like me? What rig components would you suggest? Any oppinions about Nicehash (I only found out about it yesterday, so I dont know a lot about it). Any info is more then welcome. Thanks in advance.

if you have cheap electricity in your area, nothing to worry about it, one good thing about nicehash is that payout is being paid into bitcoin.

DarrenJC

full member

Activity: 126

Merit: 100

With that much investment, Id go into ASIC Miners.

Chan8

sr. member

Activity: 378

Merit: 250

Quote from: Evening on September 08, 2017, 04:49:13 AM

Hi guys,
I am a new to crypto-currency mining, but I am still willing to start mining in a month. I am planning to invest 50-100K EUR in mining 25-50 GPU mining rigs(6-7 x RX480 i guess) rigs, for Ehtereum/zCash/Monero etc.
I know about difficulty bombs, as well as Casper coming out in late 2018 (hopefully), but according to my calculations I will still get my investment back in about 12-18 months (I guess I can still sell GPU's after (if mining wont be profitable anymore. I know it is a risky investment, but I guess everything in this market is. But everywhere I go I see people complaining about market beeing overflooded, not profitable mining, and mostly a lot of negative oppininions about starting mining right now. Am I missig something, does anyone have a constructive oppinion why would GPU mining be unprofitable soon for sure? Any advices for a noob like me? What rig components would you suggest? Any oppinions about Nicehash (I only found out about it yesterday, so I dont know a lot about it). Any info is more then welcome. Thanks in advance.

I think it is still hard to find gpu on the market to reach your 25-50 gpu rig.. but if your serious about getting some, I am trying to sell off some

Vann

hero member

Activity: 1036

Merit: 606

Mining is profitable and Crypto is a rapidly growing asset class. How long mining remains profitable in both the short and long term depends on many factors, most of which are unpredictable. Current ROI on a RX 580 rig is about 6 months. That timeframe could certainly change, so as long as you are OK with that, IMO mining is a worthwhile investment. Managing a farm of that size is not a simple task, even for someone with experience. I would suggest doing your own research and starting off with just a couple of rigs at first until you get an understanding of what you are getting in to before diving in head first.

CryptoWatcher420

sr. member

Activity: 462

Merit: 258

Small Time Miner, Rig Builder, Crypto Trader

if you read the forum youll find all the info you need, also nicehash is crap, use it if you don't mind getting paid less than what you really should be getting, yall noobs always be posting about the same danm questions every week and just want information handed to ya on a silver platter. do some more research and read the forum here, its all you need just have to find it and if you cant find it then either you are too lazy or your doing something wrong.

also as a side note if you had of built atleast one rig as a prototype youd have most of your answers considering of the large amount you are wanting to spend

Evening

newbie

Activity: 6

Merit: 0

Hi guys,
I am a new to crypto-currency mining, but I am still willing to start mining in a month. I am planning to invest 50-100K EUR in mining 25-50 GPU mining rigs(6-7 x RX480 i guess) rigs, for Ehtereum/zCash/Monero etc.
I know about difficulty bombs, as well as Casper coming out in late 2018 (hopefully), but according to my calculations I will still get my investment back in about 12-18 months (I guess I can still sell GPU's after (if mining wont be profitable anymore. I know it is a risky investment, but I guess everything in this market is. But everywhere I go I see people complaining about market beeing overflooded, not profitable mining, and mostly a lot of negative oppininions about starting mining right now. Am I missig something, does anyone have a constructive oppinion why would GPU mining be unprofitable soon for sure? Any advices for a noob like me? What rig components would you suggest? Any oppinions about Nicehash (I only found out about it yesterday, so I dont know a lot about it). Any info is more then welcome. Thanks in advance.

Topic: Newbie in mining (Read 408 times)