Wouldn't it be better to buy $5000 worth of mining rigs rather than investing to crypto right away...

>Still far away for that to happen though.

How far? 3 months, 6?

I just built miner, 2300 got me 50mh. The reality of 50 mh right now is about 4 bucks a day in ethermine.org pool.

5 grand might get you around 150mh if your lucky, so go ahead and call it 20 bucks a day, you are looking at 250 days to get back to zero...

I'm not saying to not go for it, but just do it with a clear view...

Nobody knows yet...

Bro spend 5 Grand on fucking Genesis Mining fuck that electric bill. Shit is nice cash just rolls in every day.

$5k = 3k Mh/s of Dash (x11) which is 300 dollars a fucking day

Just remember that if it's profitable to mine, then you're not going to be the only one buying up that mining equipment. Difficulty will increase.

Likewise, if all alt coins go down, miners will have no where to go except to keep mining the coin, so difficulty will stay high.

You experience some of the risk of buying into crypto, but get some of the benefit if the coin goes up in price.

Also, yeah, ROI happens in 2 to 4 months, but most of the coin you'll ever mine will be in the first 4 to 8 months you have the rig. Go look at historical difficulty charts for literally any coin.

>how does mining ROI compare
>mining ROI
>mining..
>ROI

>Bro spend 5 Grand on fucking Genesis Mining fuck that electric bill. Shit is nice cash just rolls in every day.
>$5k = 3k Mh/s of Dash (x11) which is 300 dollars a fucking day

What? Link?

Yes, mining hardware ROI, your point?

Difficulty adjustment kills your profits

I just built a 100 mh rig for $2500 and will be adding 2 more GTX 1070s for another $900 so $3400 for 150 mh.

People were gpu mining years ago and still are today. Rig doesn't disappear after first few months you can keep mining until hardware dies

Takes 6 months for a GPU just to pay for itself, and that's assuming the value of ETH doesn't fall any further than it already has.

Mining still bets on coins having good volume and demand, a 2013 like crash would leave most miners dead
It's not 100% profit if you pay for electricity

Where are you getting 2x1070, 700 us cards, for 900?

Already signed up that's why I'm buying 4 mining rigs ($20k)

>genesis-mining.com/

I mined BTC in 2011 with GPUs so I know what I'm talking about.

The people mining with GPUs years ago have upgraded their GPUs several times. You mine with the card for a year and then either run the thing into the ground mining for pennies due to difficulty increases caused by new miners with new generation cards (or, worse, an ASIC was invented for your algo like sha256/scrypt/x11/qubit) or try to sell it on eBay while you buy a new card.

Point is, don't count on your card still giving you profit a year from now anywhere close to what it was giving the the first month. Because the only way that's happening is if your coin is also going to the fucking moon at the same time, in which case you missed out on a 10x to 100x increase on the money that you could have gotten if you just bought the fucking coin instead of a miner.

Yeah but if you pay for electricity, eventually mining the coin will be unprofitable to the point where it's not worth it. Also depending on where you live you have to deal with the heat/noise somehow, rigs go down or need maintenance eventually which is more of your direct time spent on it, which is technically money

Polly want a cracker?

Dude... $2300 got you 50 MH? What'd you fucking buy?

I'm in for 7k and have 550 MH/s Eth and 10,000 MH/s Sia @ 3900 watts.

I checked the prices... How do you get 3k mh/s? For me it says $4500 = 1k mh/s

Haha fuck my life just checked amazon and msi gtx 1070 gaming x 8gb were $440 including shipping and I was literally going to purchase them before telling you the link (because I want them before you kek) and then they disappeared

FUCK MY LIFE

What do you guys use for mining? in terms of software?

lol what did you buy
and 4 bucks at 50mh/s is low if i can get 2.2$ for 18mh/s from nicehash who skim everything by 3 or 4%

cloud mining is a scam u fucking idiot.

NiceHash

They take a cut of around 5% but you get BTC instead of shitcoins that might fluctuate wildly.

$2300 for 50mh is cancer tier.

Like god damn that's horrible.

My friend about a month ago got 6 x gym 1060 3gb for about $170 per with Samsung memory on all.

He gets at least 130 MHs for under $1400 total.

I've recently got 1070s for $300, R9 380 4GB for $100, multiple GTX 970 for $135-150.

A WX 5100 for $250 even, which I will sell for more no matter what when I'm done with it since it's a workstation card that $350 bare minimum.

Gotta know where to look, I also got a 1050 ti rig running 6 x evga SSC 1050ti only cost me $119 each shipped.

If you are going to mine sia, just get the obelisk.

It's a good deal if you're not buying on credit :^)

Don't mine ETH with nVidia cards. It's much smarter to mine Zcash or possibly one for the cryptoNote coins right now while the difficulty isn't as crowded and then speculate on them getting a major market boost once ETH goes PoS.

>Gotta know where to look,

and where would that be?

i have a rig with 6* gtx1070. What should be my Zcash hashrate?

whattomine.com

Just don't rely on those calculators for anything, they're not based on reality

I'm in the process of building a 6 GTX 1080 (or Ti) rig. Waiting on the 1600W PSU to come in.

Genesis Mining is real...I've seen the servers in iceland

comma.guide/vocative-comma/

is it user ? i am curious
sb got real exp with it not some meme ?

and the difficulty will go up as every other retard has this same idea. In 3 months difficulty for eth will double. Its usually about the same for other coins.

Just finished building a 7 x GTX1070 rig, set me back around $4800 and its producing 220Mh/s mining ETH @ 955w from the wall, need to check if i can dual mine SIA without increasing the temps/power too much..

How long is this business going to last? Seems like it would be better to wait for Nvidia to release their mining GPUS next month, no?

It's not a good deal. You probably won't even get your return back for years.

What's your monthly cost and kWh/c where you live?

0.16 unfortunately..

I'll use the Obelisk when it comes out in June 2018. I'm running Claymore's dual miner so the 10k is aggregate across my 22 GPUs.

I wanna get myself a GPU mining rig but
5000$ currently doesn't even get you one rig because everything is sold out.

Not touching NVIDIA cards cause this is mining not gaming.

>Dude... $2300 got you 50 MH? What'd you fucking buy?

you're right, i fugged up math, but i'll tell you exactly.

the mobo/ram/cpu/PS/frame etc...625
3 rx570 vid cards off ebay @330 each = 990.

so a bit over 1600.

To fill the thing out with more cards is another 1K which I am struggling with the idea of doing.

An investment before a 2013 crash will leave you with even less coin. Most efficient in that case would be to buy miner -> crash -> sell miner -> buy coins.

wtf is obelisk ?

>tfw I pay 0.00 electricity cause renting from a gypsy
>No more to invest in cards

lmao, kill me before the gypsies do.

That feel when I invested $1000 in mining hardware in 2013, May instead of buying bitcoins.

I now only have $5000 worth of BTC instead of $20,000

Learn from my lesson.

Same here, bought 2 rx480's back in February to mine Ethereum when it was $12.

Managed to mine 8 ETH, but could of bought like 30 ETH with what I spent on the cards.

>they think they're going to ROI at all, much less 2-3 months

As someone actually mining and didn't pay idiotic prices for my GPUs, boy are you idiots in for a rude awakening.

>As someone actually mining and didn't pay idiotic prices for my GPUs, boy are you idiots in for a rude awakening.

yeah, i mean, i did this mostly as a hobby just to see it work. The money to buy the rig was eth profits from buying in at $7.

If you scour around, local adds on craigslits and the like, you may get some GPU's for not stupid prices.

Right now, rx470's are in the high 300's buy it now.

people running the older cards that are chugging 500w's are either outright lying or getting free power.

I really want to max this rig out, but I see very plainly now why mining is "serious", especially for ethereum given the difficulty level is astronomically high...

I watched a video just last night on a guy that was running a 50 GPU farm, he started very very early when he was getting 20+ eth per day and by the end of 2016 50 gpu's was getting 1 eth per day.

he went on to explain how eth is going to switch to PoS at some point and when it does all that has power, 62 TH right now, will spread into etc, zcash, and monero at which point the payouts on those coins is going to plummet into toilet.

If I could get 3 more cards are a reasonable price i'd do it, but its killing me to drop another 1K into at best 500 with of hardware...

Any proofs? If your payouts real I might jump in

What does PoS mean?

Proof of stake, you keep your wallet open and coins are automatically generated (like 1-5% a year, though, so not really worth it)