Topic: Should I return my mining hardware? (Read 2614 times)
7950's are were running at a premium on E-bay a couple of weeks ago.
No reason to hold on to them. You can pretty much get most of your money back, MINUS E-bay and paypal fees.
The I3's, probably get most of it back.
Good lesson to learn, fuck splitting costs or profits, be your own alone.
No doubt!
in the future never mix up money with friends or family (exception being spouse). I've seen nasty stuff from family regarding money, disgusting and relentless. With friends if I pickup the tab I consider it a gift, never expect a return of a favor, over time you filter out the one-way streets. Good lesson to learn, fuck splitting costs or profits, be your own alone.
Yep yep! Even when you make every effort to do right, mixing money is a good way to loose friends or family. It can get really ugly.
Just before the price of bitcoins skyrocketed, like a jackass, I sold my block erupters. Desperate to get back into mining but unable to afford the latest and greatest ASIIC device to make mining BTC worth while, I decided to mine LTC using GPUs. At today's rate I'd be looking at around 70 USD a day, after electrical costs. Not bad, you say. But there's a problem.
Before I even bought the hardware to set up two 5 GPU mining rigs, I asked a friend if he'd help me get the mobos and PSUs. He agreed and to my surprise, he later told me he'd completely cover the costs, which I didn't even ask for. After consulting with a few brilliant minds in the forum, I went ahead and bought the following:
What's the problem? Well, this asshole changed his mind. Actually, he flat out lied to me and said that he never said that! Now why and the hell would I spend over 4K getting enough gear to set up two rigs, when I could've just bought the materials to set up 1 myself? And because of his lie I spent more on Xmas gifts (don't regret of course) and hit a few casinos this month (totally regret). But yeah, I'm pretty pissed about it. I see now why I was his only friend; no lie.
So needless to say, I have all this crap still boxed up (okay, I couldn't help myself - I had to take a peek), but no mobos and PSUs, and no free income any time soon to get them.
What would you do?... Would you stand fast hoping 1200 bucks fall in your lap? Or would you throw in the towel and send it back? I'm undecided as to whether I should return some of it so I can set up one board, caveat being the cost of mining equipment isn't getting any cheaper.
Anything thoughts you have that may help aid my decision, please share. Thanks!
Before I even bought the hardware to set up two 5 GPU mining rigs, I asked a friend if he'd help me get the mobos and PSUs. He agreed and to my surprise, he later told me he'd completely cover the costs, which I didn't even ask for. After consulting with a few brilliant minds in the forum, I went ahead and bought the following:
- 10 3GB AMD Radeon HD 7950s
- 8 GB SDRAM
- 2 Intel I3 Dual Core processors
- 2 500GB SATA hard-drives
- 2 wireless adapters
What's the problem? Well, this asshole changed his mind. Actually, he flat out lied to me and said that he never said that! Now why and the hell would I spend over 4K getting enough gear to set up two rigs, when I could've just bought the materials to set up 1 myself? And because of his lie I spent more on Xmas gifts (don't regret of course) and hit a few casinos this month (totally regret). But yeah, I'm pretty pissed about it. I see now why I was his only friend; no lie.
So needless to say, I have all this crap still boxed up (okay, I couldn't help myself - I had to take a peek), but no mobos and PSUs, and no free income any time soon to get them.
What would you do?... Would you stand fast hoping 1200 bucks fall in your lap? Or would you throw in the towel and send it back? I'm undecided as to whether I should return some of it so I can set up one board, caveat being the cost of mining equipment isn't getting any cheaper.
Anything thoughts you have that may help aid my decision, please share. Thanks!
Get rid of it or buy him out, in the future never mix up money with friends or family (exception being spouse). I've seen nasty stuff from family regarding money, disgusting and relentless. With friends if I pickup the tab I consider it a gift, never expect a return of a favor, over time you filter out the one-way streets. Good lesson to learn, fuck splitting costs or profits, be your own alone.
RepairGuy, Cris asked a very important question and I don't want to step on your toes, but you "half answered it"
The question was "With bitcoin's current difficulty, wouldn't I do better to mine alts and exchange for BTC?" While you did give an answer, your answer did not account for the increase in difficulty. While that 180Ghs Antiminer WILL use less power/less heat......In the long run, the GPU's may provided to be more profitable due to the slower increase in diff........
Don't mind me....I am new here.......
..............Ninja Smoke.....
I don't take any offense, and I don't feel that I half answered it. I have no idea what the difficulty is going to do, so I can't really predict that. We have no way to know what is around the corner. That would be a guess. Anyone's guess for that matter. She also asked about the CURRENT difficulty.
I am not discounting your prediction, please don't take it that way, But you must admit that the demand for gpus has increased immensely, the difficulty could skyrocket at any time. How many units have been shipped in the past month, how many are sitting in box(like cris) waiting for funds or to figure out how to set them up / make them work? It is anyone's guess. The current ltc network hashrate is equivalent to 117,000 7950s. How many people are attracted to alt coin? how many gpus been sold? How many will be sold next week? These are all questions that I don't have the answer to, We can only speculate.
The exchange rate is the same. Bitcoin increased x6 and at the same time ltc increased x3. The person holding ltc would have made more on the increase in btc. We can only speculate.
I also can't help but notice you have almost 4k worth of stuff for mining altcoin, because you said you couldn't afford asic, however the latest round of antminers are 2500
With bitcoin's current difficulty, wouldn't I do better to mine alts and exchange for BTC?
Ok, at current market
7000khs ltc 2.47 per day = .08btc
antminer .0767 btc per day
however the ltc rig will use 8 times as much electricity and put off a shitload of heat.
(I am not questioning your decision or trying to sway you in any direction, just stating the facts, I only ask the question because you said that you didn't have enough money for an asic, that didn't make sense. now the fact that alt could be more profitable does)
RepairGuy, Cris asked a very important question and I don't want to step on your toes, but you "half answered it"
The question was "With bitcoin's current difficulty, wouldn't I do better to mine alts and exchange for BTC?" While you did give an answer, your answer did not account for the increase in difficulty. While that 180Ghs Antiminer WILL use less power/less heat......In the long run, the GPU's may provided to be more profitable due to the slower increase in diff........
Don't mind me....I am new here.......
..............Ninja Smoke.....
For an Intel CPU get the cheapest socket 1150 CPU available, which is the Pentium G3220 http://www.newegg.com/Product/Product.aspx?Item=N82E16819116950
If you were to go with the cheaper AMD route you would need a new motherboard http://www.newegg.com/Product/Product.aspx?Item=N82E16813128514 this has 4 PCI-E 16x and 2 PCI-E 1x slots, so you would need a powered 1x to 16x adapter to run 5 GPU's http://www.ebay.com/itm/PCI-E-16X-to-1X-Adapter-Riser-Card-Flex-Extension-Cable-w-Molex-Power-Connector-/181285248039?pt=LH_DefaultDomain_2&hash=item2a35715c27
I also assume that you are using a milk crate or a custom mining case, so you would need 4 PCI-E 16x powered risers http://www.ebay.com/itm/PCI-E-16X-to-16X-Adapter-Riser-Card-Extension-Cable-w-Molex-Power-Connector-/171204010394?pt=LH_DefaultDomain_0&hash=item27dc8de19a
If you were to go with the cheaper AMD route you would need a new motherboard http://www.newegg.com/Product/Product.aspx?Item=N82E16813128514 this has 4 PCI-E 16x and 2 PCI-E 1x slots, so you would need a powered 1x to 16x adapter to run 5 GPU's http://www.ebay.com/itm/PCI-E-16X-to-1X-Adapter-Riser-Card-Flex-Extension-Cable-w-Molex-Power-Connector-/181285248039?pt=LH_DefaultDomain_2&hash=item2a35715c27
I also assume that you are using a milk crate or a custom mining case, so you would need 4 PCI-E 16x powered risers http://www.ebay.com/itm/PCI-E-16X-to-16X-Adapter-Riser-Card-Extension-Cable-w-Molex-Power-Connector-/171204010394?pt=LH_DefaultDomain_0&hash=item27dc8de19a
$1200 for motherboards and psus?
RickJamesBTC,
I've been searching for a while trying to find cheaper materials. Obviously I can't skimp on the power requirements, and 119 USD is the cheapest I can find for the PSUs, and I need 4 of them. The 2 mobos on the other hand, I'm not having any luck finding anything that can support 5 GPUs at a better cost than the Z87-G45. Do you have any suggestions?
I'm confused. A friend offered to "cover the cost" of PSUs and MoBos. What does that mean exactly? Was this supposed to be a gift? What kind of friend does that and why would you expect that from a friend? Weird.
I didn't ask for him to buy them outright for me, just to help me pay for them. On his own he offered to pay for them completely, then changed his mind. But of course by the time he backed out, I'd already bought all the other materials and spent what I had toward the mobos and PSUs, which coincidentally would've been enough to actually get them on my own at the cheaper prices I found on newegg.
Also, I don't EXPECT to be given anything from a friend, where the hell did you get that?! - stop inferring. But isn't that a perk of having friends; there when you're in need? I have plenty of friends and I'm just as guilty of offering help; sometimes my offer is accepted, sometimes it's not. But I would never assume they should expect it! If I have it, I give. Hell, I've given to complete strangers on this forum. You know, perhaps you're confusing friends with people you just hang out with. Maybe that's why it seems weird to you.
Anyways... can we get back on topic?
I'm confused. A friend offered to "cover the cost" of PSUs and MoBos. What does that mean exactly? Was this supposed to be a gift? What kind of friend does that and why would you expect that from a friend? Weird.
Your shopping list is terrible. I can put each base computer together for ~250 on the high side (no sales at the moment) You bought useless expensive stuff instead of making them cheap. 500gb hdds?? Use linux, and 8gb flash drives. Why did they have to be wireless? Plug in a $10 switch and run a $2 cable. $160 processors? $1200 for motherboards and psus?
Well, I'll be. I thot I did good. I'm sending the hard drives back, but they were only 65USD each. The most expensive parts were of course the GPUs. I have to go wireless because I intend to set this up in my garage, which is on the other side of my house. And yes, Amazon's prices for the mobo and PSUs were off the chain, but I found the same products on new egg for just over $700, saving almost $400.
Glad to be of very "amateur" assistance. Keep going with the altcoins. If bitcoin resumes its upturn as I expect early in 2014, the altcoins will be dragged along. Profits to be made 
No doubt! I just found the same PSUs and mobo on new egg, cutting over $250 off Amazon's prices. And with another $60 in rebates. Well, I'll be damned! Originally when I looked, they weren't in stock and I didn't even think to look back until Unacceptable posted those links. Two one tracked mined thinking about it, I suppose.
Unacceptable, if I scrap up enough to build my rig, I'll share my first day's mining bounty with you
No need man,but thanks for the offer
Just go budget buying,if you indeed go the GPU mining route.
BTW,Antminers are ok,but going to be outdated VERY soon,just like BFL 65nm,ASICminer-blades/cubes,Avalon 110nm/55nm,uh wait,they are 55nm Avalon
The only ASIC chip worth buying now is Bitfury 55nm....but NOT from Megabigpower.Way overpriced IMO
Look for a group buy from the smaller guys.Save your BTC/money for 28nm ASIC stuff.I'm going with BlackArrow myself,got 400GH ordered ATM
Read,study & ask questions BEFORE you purchase
Again,Good Luck & may the "hash" be with you!!!!!!!!!!!!
Your shopping list is terrible. I can put each base computer together for ~250 on the high side (no sales at the moment) You bought useless expensive stuff instead of making them cheap. 500gb hdds?? Use linux, and 8gb flash drives. Why did they have to be wireless? Plug in a $10 switch and run a $2 cable. $160 processors? $1200 for motherboards and psus?
Yes, I know it does, which I'm not to excited about.
But interesting... I've never looked into antminer. I'm reading a thread on those now.
I bought an antminer. they delivered promptly, reliable company so far. Easy to setup and it just keeps running, I haven't even needed to restart it once since I received it.
Ok, at current market
7000khs ltc 2.47 per day = .08btc
antminer .0767 btc per day
however the ltc rig will use 8 times as much electricity and put off a shitload of heat.
7000khs ltc 2.47 per day = .08btc
antminer .0767 btc per day
however the ltc rig will use 8 times as much electricity and put off a shitload of heat.
Yes, I know it does, which I'm not to excited about.
But interesting... I've never looked into antminer. I'm reading a thread on those now.
I would send the i3 processors back.
So what can I get to replace them? Specs for Z87-G45 says it supports 4th-generation Core i3,i5,i7,Pentium,Celeron (LGA1150)...
I would use a different board and an amd cpu. I prefer amd and they are usually less expensive.
If you want to stick with intel then I wouldn't send them back. By the time you pay shipping and wait for shipping both directions you will be at a loss.
I would mention that I would have gone with the absoulute cheapest cpu that would fit in the socket. Scrypt mining isn't really cpu intensive.
I also can't help but notice you have almost 4k worth of stuff for mining altcoin, because you said you couldn't afford asic, however the latest round of antminers are 2500
With bitcoin's current difficulty, wouldn't I do better to mine alts and exchange for BTC?
Ok, at current market
7000khs ltc 2.47 per day = .08btc
antminer .0767 btc per day
however the ltc rig will use 8 times as much electricity and put off a shitload of heat.
(I am not questioning your decision or trying to sway you in any direction, just stating the facts, I only ask the question because you said that you didn't have enough money for an asic, that didn't make sense. now the fact that alt could be more profitable does)
I would send the i3 processors back.
So what can I get to replace them? Specs for Z87-G45 says it supports 4th-generation Core i3,i5,i7,Pentium,Celeron (LGA1150)...
I would send back the hard drives also. I have a whole stack of 40gb sata you can have two if you pay to ship them.
Holy smokes! Are you serious?
Are those large enough to run Windows 8, though? Again, not that much of techie, but I'm learning! Yes it is big enough to run windows 8. 64bit windows 8 only requires 20gb. I am also curious why you are using windows 8? Is that better with the 7950's?
That's what I got from somewhere on this board...
I also can't help but notice you have almost 4k worth of stuff for mining altcoin, because you said you couldn't afford asic, however the latest round of antminers are 2500
With bitcoin's current difficulty, wouldn't I do better to mine alts and exchange for BTC?
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