Topic: Start Mining (Read 853 times)

Hi!

   I'm going to start mining, and I thought maybe I should post about it before I start to see if I missed anything, or to get any advice.

Back in 2013 when I heard about Bitcoin (Before the $1,000 surge) it was worth under $150. I heard about this IT employee in a University, using all their computers to mine bitcoins. So, I thought I should get into it too. But, I never did.
Then Bitcoin surged to $1,000 and I decided it was time. But then, I never did, because it dropped to $200 in 2014.
Then, I thought I was going to mine and just keep my Bitcoins because it will certainly go higher again. But never started.
Now, I see the price of the Bitcoin and remember the days when $1,000 a BTC seemed outrageously high. Now, everyone wish to buy a BTC at $5,000.

Also, one reason that I never started was the cost involved. Mainly Electricity. I would have been forced to sell every month some BTC earned to pay for that cost. However, I found a very good way to get cheap electricity.
So, this time, it's decided. I'm prepared, and after all the research, even though I never posted anything, I've read a lot. It's time to start mining.
I started by buying $200 worth of Bitcoins a few weeks ago, and decided that I was going to just invest as much as possible in Mining.

My goal is to mine and keep the earned BTC for the long term.
This is not to make me a living as of right now. I already have a living, so this is more like a side cryptocurrency generator.
The stored BTC price will either soar or crash in the future. Either way, I'm prepared.

So, my initial configuration is as follow:

Asrock H110 Pro BTC+ Intel H110 LGA 1151 (Socket H4) ATX - (DDR4-SDRAM, DIMM, 2133,2400 MHz, Dual, 32 GB, Intel)  [ $153 ]
CPU Celeron G3100 [ $39 ]
SSD SanDisk 120Go [ $53 ]
12x Saphire RX580 [ $289 x 12 = $3,468 ]
1x Ram 8 Go DDR4 HyperX Savage [ $55 ]
13x Risers Ver 006C and 007S [ $8.35 x 13 = $108.55 ]
3 x PSU THERMALTAKE SMART-SE 730W [ $66 x 3 = $198 ]

I plan to add more GPUs. And after 2 or 3 months of usage, overclock them.

Electricity will cost at $0.025 / kWh (Yes, that's right) - Highly profitable.

I will post updates as I go with the project.
If you have any suggestions, or questions, please don't hesitate.

I'm very excited about this!!!
Have a good day!
Yome

Hey guys,

N00b here.  I built a PC a few months back with a Ryzen 1800x CPU and a mediocre $90 gfx card. It's a decent PC but I will be looking into gfx upgrades if I can get started with this mining business.

I just want to know the simple, most cost-effective steps to start mining an altcoin.  Litecoin, or whichever you recommend for a n00b like me.

I've done some lurking around online, but haven't yet found a simple step-by-step.  Do you have any suggestions or recommendations for me?

Thank you for your time.

claws ai

So better start mining with Ether then

i think you should build 2x rig (6 vga/ rig) ..... you have good electric price, good luck

The rig looks fine except don't skimp on power, it's a bad idea in the long run. Not only 3* 730W PSUs is barely enough for 12 RX 580s, but these PSUs are also crap. Buy a couple of high quality 1200W+ units instead. Something like Corsair HX1200, CoolerMaster V1200, or any of the higher-end Seasonics or EVGA's PSUs.

I've read it already.
I posted it in general mining, instead of another, because I planned on posting updates on the general mining process. Not only one aspect of it.
Also, I'm starting with Bitcoin. Not Ether.
Unless, you wanted to point my attention on something else?

Advice: Read the forum rules!

https://bitcointalksearch.org/topic/m.24714338

Hi!

   I'm going to start mining, and I thought maybe I should post about it before I start to see if I missed anything, or to get any advice.

Hi!

   I'm going to start mining, and I thought maybe I should post about it before I start to see if I missed anything, or to get any advice.

Back in 2013 when I heard about Bitcoin (Before the $1,000 surge) it was worth under $150. I heard about this IT employee in a University, using all their computers to mine bitcoins. So, I thought I should get into it too. But, I never did.
Then Bitcoin surged to $1,000 and I decided it was time. But then, I never did, because it dropped to $200 in 2014.
Then, I thought I was going to mine and just keep my Bitcoins because it will certainly go higher again. But never started.
Now, I see the price of the Bitcoin and remember the days when $1,000 a BTC seemed outrageously high. Now, everyone wish to buy a BTC at $5,000.

Also, one reason that I never started was the cost involved. Mainly Electricity. I would have been forced to sell every month some BTC earned to pay for that cost. However, I found a very good way to get cheap electricity.
So, this time, it's decided. I'm prepared, and after all the research, even though I never posted anything, I've read a lot. It's time to start mining.
I started by buying $200 worth of Bitcoins a few weeks ago, and decided that I was going to just invest as much as possible in Mining.

My goal is to mine and keep the earned BTC for the long term.
This is not to make me a living as of right now. I already have a living, so this is more like a side cryptocurrency generator.
The stored BTC price will either soar or crash in the future. Either way, I'm prepared.

So, my initial configuration is as follow:

Asrock H110 Pro BTC+ Intel H110 LGA 1151 (Socket H4) ATX - (DDR4-SDRAM, DIMM, 2133,2400 MHz, Dual, 32 GB, Intel)  [ $153 ]
CPU Celeron G3100 [ $39 ]
SSD SanDisk 120Go [ $53 ]
12x Saphire RX580 [ $289 x 12 = $3,468 ]
1x Ram 8 Go DDR4 HyperX Savage [ $55 ]
13x Risers Ver 006C and 007S [ $8.35 x 13 = $108.55 ]
3 x PSU THERMALTAKE SMART-SE 730W [ $66 x 3 = $198 ]

I plan to add more GPUs. And after 2 or 3 months of usage, overclock them.

Electricity will cost at $0.025 / kWh (Yes, that's right) - Highly profitable.

I will post updates as I go with the project.
If you have any suggestions, or questions, please don't hesitate.

I'm very excited about this!!!
Have a good day!
Yome