Hey Veeky Forums i've got $4,500 and i want to invest in cryptocurrency hardware for ethereum

Hey Veeky Forums i've got $4,500 and i want to invest in cryptocurrency hardware for ethereum

Any recommendations?

Other urls found in this thread:

coinminingrigs.com/
twitter.com/AnonBabble

Make better troll threads, if this isn't a troll get better at thinking.

I really want to do this, no troll,
i need help

Its hard to find GPU's user, but it can be done.

CPU, MOBO, power supplies, sata flash all new on amazon will set you back 600 and you can run 6 GPU's.

The money spend will be GPU's, now its nvidia 1070's and 1080's and you'll be spending 800ish each right now unless you happen to get online when a batch shows up and you get them at only small retail markup. these cards run around 30MH/s, so 6 cards will get you around 180MH/s which is nice, but it will over your budget. That will "earn" about 20 bucks a day, so it will take 225 days for the miner to pay for itself excluding energy costs.

Mining small scale is interesting and fun, but financially its a total fucking suckers game.

And soon enough, the next advance in gpu's will land and your 180MH/s will be a joke.

If you are doing it for fun and maybe speculation that you are going to mine some coin that will be the next eth and go up x5000 or whatever do it, otherwise take your 4500 and buy eth's...that get you a good 15 eth today, eth will be 1k in january...

coinminingrigs.com/

this is actually a decent howto.

>Any recommendations?
don't do it

why not?!

thanks for the advice, so its a definitely NO ?

well, it doesn't look good right user?

Optimistically, the payoff on your 4500 bucks is way over 200 days.

Then you start "making" money, but the problem is the difficulty(number of other GPU's mining) is ever increasing and soon enough the next generation of GPU's will hit the market that make your current GPU's door stops(for mining), so you are always chasing your tail.

By all means, if you are patient and want to support the technology for small slow gainz then do it, otherwise, just buy...

I just built a miner based on link provided, mine is AMD based and is just 70MH. it will take ~same 200 days to pay for. I did it cause I always wanted to build one and I bought eth at 7 bucks, so the actual cost to me was very small.

If I could roll clock back, I would not do it, no chance.

do the math on that rig in the pic...that is like 72 GPU's.

Total cost assuming they are 1070's at market price for just the GPU's is 57600, another 19 sets of mobo etc at 500 each is 9.500...
call it 65000 bucks.

All that, and it makes about 200 bucks a day.

If you had a way to get the GPU;s very cheap its a different story, but you would need great connections...

user and how about the eth selling? It's easy? Monthly speaking.
Also im patient and only want the rig for an extra income not for living.

not him but you could store all eth in hardware or software wallet and transfer to coinbase to sell for USD into your bank account.

So very easy. Or you can HODL for suck gainzzzz (dont do this)

well i think im going to do it.
i will build my rig with 1070gtx (6) and wait for the new gpu and start buying 1 or 2 cards.
in the meanwhile selling 90% of the eth and hoping the 10% increase their value.

Any other considerations?
how about 98.000Euro ASIC miner?

370 all the way if you can find them

AMD Radeon R7 370?

noone will give you too good advice about this on any crypto forum/board cuz:

-you literally lower the earnings of existing miners by adding your hashpower. good for ETH, bad for existing miners. existing miners have strong incentives to make you unsuccessfull and don't start / abbandon mining.

those that don't mine have no serious experience, they will just not know that well what to use for best electricity cost/hashpower ratio


try blogpost preferably made by ex-gpu miners (but people who give their name to what they write are generally a lot more honest about stuff, even if they have some conflicting interest, than posters on an anonymous board), that's probably the best source.

i only spent about 2200 on my 6 cards. I'm pulling about 200 mh/s calculated hashrate reported 180 mh/s .

2 x r9 290x tri-x 4gb
1 x r9 390 8gb
1 x r9 390x 8gb
2 x rx 480 8gb

2000* on cards 200 on extra cpu/mobo combo

>user and how about the eth selling? It's easy? Monthly speaking.

not sure what you mean, but I think you are asking how to sell your mining gainz?

most pools do a payout at a threshold, like ethermine.org will let you set the payout to .01 eth, so whatever it takes, when you have mined that much it hits your wallet.

Then you can transfer that into an exchange an convert to fiat and take it out, or convert to BTC and spend directly or whatever.

Fees will eat into your profits too...

>only spent about 2200 on my 6 cards

where did you get the cards? even still on average you spent 366 on each card which is about right...if you go on ebay the "buy it now" on rx470/80 cards is right in the mid 300's.

I only quoted 1070's as they are the dujor card right now and get best hash's

OP Here
Some consideration of my project:
electric power will be: $0
i will use the data center of my company to store my Rig. no one will ask.
hardware: i will pay a monthly fee 12mo.

thanks user, great advice.
i totally forgot about the fees!

Anyway i will try it.
what do you recommend hardward wallet or software wallet
i want to use coinbase to transfer the usd to my account.

>noone will give you too good advice about this on any crypto forum/board cuz:

false, some noob adding 6 cards is totally irrelevant to the difficulty.

do the math user, there are over 2 million GPU's hashing eth right now.

2 million.

6 more doesn't matter, 6000 more doesn't matter...

what about 6001?

except most most 'successfull noobs' will give incentive to other successfull noobs to start mining and result in an exponential growth

got them on ebay my man

...

that wouldn't be an investment.

they're moving to pos, just buy btc or eth on that money instead

>what about 6001?

then we are all fucked.

>they're moving to pos, just buy btc or eth on that money instead

pos matters alot when it happens cause that 60 TH/s working on eth is going to move to all the others and the payouts are going to go to nothing when that happens...

what is POS?

You wont be able to mine eth soon. Wait for eth to switch to pos ,you inpatient fuck. Noone knows what will happen when eth switches. You might wont be able to make any profit off it from 1. August. Wait or risk pissing money into the wind.

Proof of Stake. Read it up.

I think you have segwit mixed up with pos... Nothing is happening to ETH Aug 1st. Pos comes closer to November.

I see no point in putting money into mining gear atm. Its slowly 2013 again when everything dies down.. your ROI will be years.

I would mine but I wouldn't mine ETH. You could make decent profit mining alt coins

Trust me on this, as an old time miner since early 2014 - do NOT start mining if you plan on mining any of the big coins. You will get nothing.

Essentially you will lose more in electricity costs each month from running it than gains, and thats not including the cost of purchasing the hardware to begin with.

If you plan on mining smaller altcoins however, well, thats another story, but you might as well play the lottery. Most of them will be dead in a year or so anyway.

My suggestion is to invest in bitcoin, eth, litecoin, etc when they go down. Then forget about cryptos for a couple of years.

Piece of shit

i will not pay electricity and i think that is a huge save of money.

It is a huge savings per month but still as said cost of hardware compared return is high. So to get any ROI on it you willl have to wait for months, also as said it is just before next big crash like in 2013, more and more people are mining the main coins and the returns are going down untill they reach the point where there is next to no returns and then people one by one start dropping out of business. Also keep in mind that those customer cards will be hard to sell when next generation comes becaues other people will want to drop them too, and those cards don't really like working on 100% 24/7 7days a week.

Its not "huge" unless you are in a socialist utopia where electricity is extremely expensive.

6x1070 will hash 170MH/s, based on todays price that will be $17 USD a day.

4500/17, assuming you can actually get it all built for 4500 anyways, it will take 264 days to pay off the investment.

That assumes flat profitability for almost a year, it won't be, difficullty is going to continue to rise...

Good luck user!

don't

But difficulty will reason until certain point then it will drop just like in 2013. I think if he wants pasive income which it mostly is, it wont be that bad after the change, but when the change will come nobody knows.

>But difficulty will reason until certain point then it will drop just like in 2013. I

mine for fun, not profit. You aren't going to make meaningful profit unless you already own the cards.


someday, it will actually make "income" but its far away and not gauranteed at all.

No one is going to tell you to mine. Every additional person mining reduces the profits for everyone else. Do your own research don't trust anyone's answers for anything regarding crypto.

Just make a bot.