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Coin Mining Build Questions

My father in law wants to start mining and has offered to pay for everything if I can build the computer. My knowledge is limited except that I know I want 4x r9 280X and a 1300 PSU. Money is not a problem but I do want the best price to performance ratio I can get so we can actually make money. We may be setting up two computers if the first one is a success. What I am looking for is a build and if you have any tips on how to maximize profits. 

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1) You will not make any money using graphics cards.

2) You need an ASIC miner to make money.

3) You should be ready to spend $2000+ on a mining build if you want to make more than $10 per month.

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Linus can help       Bitcoin mining with gpu isn't popular any more, you have have to get things from butterfly labs.

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It is really hard to make money mining now and not worth it for most people. 

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My father in law wants to start mining and has offered to pay for everything if I can build the computer. My knowledge is limited except that I know I want 4x r9 280X and a 1300 PSU. Money is not a problem but I do want the best price to performance ratio I can get so we can actually make money. We may be setting up two computers if the first one is a success. What I am looking for is a build and if you have any tips on how to maximize profits. 

What coins does  he want to mine? Does he know what he is getting into as far as Bitcoin vs Altcoin mining? 

 

1) You will not make any money using graphics cards.

2) You need an ASIC miner to make money.

3) You should be ready to spend $2000+ on a mining build if you want to make more than $10 per month.

 

 

Linus can help       Bitcoin mining with gpu isn't popular any more, you have have to get things from butterfly labs.

 

Do you guys even read the shit you post? I can point out everything wrong here if you would like, but frankly it's a waste of time. I could get better answers on Yahoo answers.

You are free, act like it~Warfairy. Moar guns. B) #3Dprinting

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Do you guys even read the shit you post? I can point out everything wrong here if you would like, but frankly it's a waste of time. I could get better answers on Yahoo answers.

Perfect. We don't need rude people like you on this forum. Enjoy your yahoo answers and loss of money.

NEW PC build: Blank Heaven   minimalist white and black PC     Old S340 build log "White Heaven"        The "LIGHTCANON" flashlight build log        Project AntiRoll (prototype)        Custom speaker project

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Would you rather have us lie to you and say that you can make money by mining with a graphics card?

NEW PC build: Blank Heaven   minimalist white and black PC     Old S340 build log "White Heaven"        The "LIGHTCANON" flashlight build log        Project AntiRoll (prototype)        Custom speaker project

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Would you rather have us lie to you and say that you can make money by mining with a graphics card?

See that's the thing, you can.

You are free, act like it~Warfairy. Moar guns. B) #3Dprinting

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See that's the thing, you can.

No. The coins that make money are too difficult to mine for a consumer GPU. A graphics card was never meant for mining which is why its mining/has rate is so low. Power consumption is so high that you will be paying more for power than what you will make back from the coins you mine. ASIC miners use a ton less power while having a hash rate hundreds of times greater than a graphics card. Most of the other small cryptocurrencies that can be mined will make you far less money than bitcoins or dogecoins or whatever other large currencies there are in circulation.

 

So basically you're right, you CAN mine coins with a crappy graphics card, but you will definitely lose money by doing so.

NEW PC build: Blank Heaven   minimalist white and black PC     Old S340 build log "White Heaven"        The "LIGHTCANON" flashlight build log        Project AntiRoll (prototype)        Custom speaker project

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No. The coins that make money are too difficult to mine for a consumer GPU. A graphics card was never meant for mining which is why its mining/has rate is so low. Power consumption is so high that you will be paying more for power than what you will make back from the coins you mine. ASIC miners use a ton less power while having a hash rate hundreds of times greater than a graphics card. Most of the other small cryptocurrencies that can be mined will make you far less money than bitcoins or dogecoins or whatever other large currencies there are in circulation.

 

So basically you're right, you CAN mine coins with a crappy graphics card, but you will definitely lose money by doing so.

So sorry, I'll correct what I said earlier. 

 

See that's the thing, you  I can.

You are free, act like it~Warfairy. Moar guns. B) #3Dprinting

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So sorry, I'll correct what I said earlier. 

 

See that's the thing, you  I can.

Any consumer graphics card is not profitable for mining. Even AMD.

NEW PC build: Blank Heaven   minimalist white and black PC     Old S340 build log "White Heaven"        The "LIGHTCANON" flashlight build log        Project AntiRoll (prototype)        Custom speaker project

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Any consumer graphics card is not profitable for mining. Even AMD.

Prove it.

You are free, act like it~Warfairy. Moar guns. B) #3Dprinting

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Prove it.

http://www.cryptoarticles.com/crypto-news/2014/3/31/gpu-mining-isnt-dead-it-just-became-harder-to-make-profit

https://bitcointalk.org/index.php?topic=509021.0

http://www.reddit.com/r/litecoin/comments/26gnzu/litecoin_mining_is_no_longer_barely_profitable/

 

And you can do the calculations yourself. It's really easy to see that the amount you have to pay on your power bill is greater than what you make from mining with a graphics card. A lot of people have calculated this for different currencies, and found it is unprofitable with the extremely low efficiency of a graphics card. Graphics cards are meant for playing games, they were never intended to do massive calculations 24/7 mining.

NEW PC build: Blank Heaven   minimalist white and black PC     Old S340 build log "White Heaven"        The "LIGHTCANON" flashlight build log        Project AntiRoll (prototype)        Custom speaker project

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Ryzen 3950X | AMD Vega Frontier Edition | ASUS X570 Pro WS | Corsair Vengeance LPX 64GB | NZXT H500 | Seasonic Prime Fanless TX-700 | Custom loop | Coolermaster SK630 White | Logitech MX Master 2S | Samsung 980 Pro 1TB + 970 Pro 512GB | Samsung 58" 4k TV | Scarlett 2i4 | 2x AT2020

 

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At least GPU's hold value. Being that if mining does not work out at least you have parts people will still have a need for such as gaming. ASIC mining gear has lower to no value outside of mining. But I was simply asking for a build guide and some guidance to seasoned miners not to have you all fight about whether you can make money or not. With all the different cryptocurrencies in circulation today there is always away to make money as long as you are on top of the game and pay attention to the market. You can not just simply fire and forget.

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At least GPU's hold value. Being that if mining does not work out at least you have parts people will still have a need for such as gaming. ASIC mining gear has lower to no value outside of mining. But I was simply asking for a build guide and some guidance to seasoned miners not to have you all fight about whether you can make money or not. With all the different cryptocurrencies in circulation today there is always away to make money as long as you are on top of the game and pay attention to the market. You can not just simply fire and forget.

 

 

You sound like you know what it will take to make it work. :)

 

As far as a build guide goes, I would buy  used all the way. You can get the Asrock H81 PRO BTC on Ebay with a low processor for $60-70. A R9 280x goes for only around $170 too. Used power supplies aren't quite as plentiful but I've seen some EVGA 1300w go in the $160 range.

 

Now back to fighting :ph34r:

 

8/6/2014

 

XDQ, 110@ .00046 = .05047350
BLC, 400@ .00001402 = .00559398 
ELT, 920@ .000005 = .00458850
UMO, 40@ .0001 = .004
 
Total .06465598 Btc * $590 = $38.15 Usd

 

This was from 23 GPUs, mostly 270s. When the cards themselves are only worth $100 or less, getting more then a dollar per card (yes even after power) is well worth it to me. This was set-n-forget, not necessarily the most profitable. 

You are free, act like it~Warfairy. Moar guns. B) #3Dprinting

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You sound like you know what it will take to make it work. :)

 

As far as a build guide goes, I would buy  used all the way. You can get the Asrock H81 PRO BTC on Ebay with a low processor for $60-70. A R9 280x goes for only around $170 too. Used power supplies aren't quite as plentiful but I've seen some EVGA 1300w go in the $160 range.

 

Now back to fighting :ph34r:

 

8/6/2014

 

XDQ, 110@ .00046 = .05047350
BLC, 400@ .00001402 = .00559398 
ELT, 920@ .000005 = .00458850
UMO, 40@ .0001 = .004
 
Total .06465598 Btc * $590 = $38.15 Usd

 

This was from 23 GPUs, mostly 270s. When the cards themselves are only worth $100 or less, getting more then a dollar per card (yes even after power) is well worth it to me. This was set-n-forget, not necessarily the most profitable. 

So you spent $2300 on graphics cards, and consider 1$/month per card to be profitable? 

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So you spent $2300 on graphics cards, and consider 1$/month per card to be profitable? 

No, I spent a hell of a lot more then that, and they are all paid off. 

 

Not $1/month, $1/day, and three months to pay off isn't that bad. 

You are free, act like it~Warfairy. Moar guns. B) #3Dprinting

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No, I spent a hell of a lot more then that, and they are all paid off. 

 

Not $1/month, $1/day, and three months to pay off isn't that bad. 

3 months is the sweet spot for payoff vs investment, any longer than that and the difficulty increase can threaten your profitability.

 

one thing to mention though is you seem to be mining altcoins, which (for now at least) are more profitable than bitcoins.

Would you have the same margins mining bitcoins?

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3 months is the sweet spot for payoff vs investment, any longer than that and the difficulty increase can threaten your profitability.

one thing to mention though is you seem to be mining altcoins, which (for now at least) are more profitable than bitcoins.

Would you have the same margins mining bitcoins?

Mining bitcoins is a completely different game. It's just trying to hit ROI before your asic is obsolete. GPU mining last much longer, I have cards at 17 months, with zero problems, still producing just as efficiently as new cards being produced.

You are free, act like it~Warfairy. Moar guns. B) #3Dprinting

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