Altcoin mining rig help

[SnipingBow]

I currently have this : 

Quote

CPU: Intel - Core i5-4460 3.2GHz Quad-Core Processor 
Motherboard: ASRock - H97 Anniversary ATX LGA1150 Motherboard 
Memory: G.Skill - Ripjaws X Series 8GB (2 x 4GB) DDR3-1600 Memory
Storage: Samsung - 850 EVO-Series 250GB 2.5" Solid State Drive 
Storage: Western Digital - Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive 
Video Card: MSI - Radeon R9 390 8GB Video Card 
Power Supply: EVGA - 750W 80+ Bronze Certified Semi-Modular ATX Power Supply

 

Currently mining ETH @ 31 MH/S and I know that ETH won't be minable forever, but I trust this coin long term and I want to mine more.

I know my MOBO can handle 6 gpus (true?) and I think I can get an other GPU wiht my current PSU.

 

How can I upgrade my current build so I can mine more altcoins? What GPU/GPUs should I get and should I change my PSU if I take your advice?

I was thinking to throw about 2000$ CAD (will do more if this has potential) = 1500 USD (yes poor us canadians, i know)

 

Thx

[Enderman]

But you're never going to make $2000 back, so why waste that much money on it?

[Ninetales]

As long as you are reusing parts here and not spending money to buy them, I would recommend upgrading to a better PSU for more energy efficiency and a few more GPUs.

 

I believe you can effectively put 5 GPUs on your Mobo but you will need risers as well.

For in stock GPUs, I recommend 1060 6GB if you can find them below 275 USD.

[Ninetales]

4 minutes ago, Enderman said:

But you're never going to make $2000 back, so why waste that much money on it?

He will definitely make ROI... even if mining somehow disappears in the next few months, throw them back in their boxes and resell value will make easily 60% of his initial investment...

I see you on other threads discouraging others too, not really sure if you know what you're talking about lol.

[Zando Bob]

1 minute ago, Ninetales said:

As long as you are reusing parts here and not spending money to buy them, I would recommend upgrading to a better PSU for more energy efficiency and a few more GPUs.

 

I believe you can effectively put 5 GPUs on your Mobo but you will need risers as well.

For in stock GPUs, I recommend 1060 6GB if you can find them below 275 USD.

Nooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo! Don't take the 1060s too! 1070s are going, and RX480/580s are already gone!

 

 

If you have to mine, just get two cards, not 5+. 

[SnipingBow]

3 minutes ago, Enderman said:

But you're never going to make $2000 back, so why waste that much money on it?

How will I not make any money I don't get it? Enlighten me please. I am currently Mining about 0.01 per day. Let's say I mine for 60 days, that's 0.60 ETH. Let's say ETH goes to the level of BTC = 3000UDS (I honestly think it will go more than that, talking in 5 to 10 years), thats arround 1 800 USD. Please correct me if im wrong but that's the way I see it.

 

[Enderman]

Just now, SnipingBow said:

How will I not make any money I don't get it? Enlighten me please. I am currently Mining about 0.01 per day. Let's say I mine for 60 days, that's 0.60 ETH. Let's say ETH goes to the level of BTC = 3000UDS (I honestly think it will go more than that, talking in 5 to 10 years), thats arround 1 800 USD. Please correct me if im wrong but that's the way I see it.

 

LOL nope, that's not gonna happen.

The amount you're making each day is getting lost in power costs and system degradation.

[SnipingBow]

Just now, Enderman said:

LOL nope, that's not gonna happen.

The amount you're making each day is getting lost in power costs and system degradation.

Lol?

I pay 0.08$ CAD for my power...what are you even talking about. I guess this guy doesn't want any competition.

[Ninetales]

1 minute ago, Zando Bob said:

Nooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo! Don't take the 1060s too! 1070s are going, and RX480/580s are already gone!

 

 

If you have to mine, just get two cards, not 5+. 

Lol! Yes, I would agree but best price per hash as of today is the 1060 6GB or the RX 560. The 560 will produce more H per $ but the 1060 can dual mine + higher resale value when you decide to get out.

 

1 minute ago, Enderman said:

LOL nope, that's not gonna happen.

The amount you're making each day is getting lost in power costs and system degradation.

Would you like to explain why every top of the line RX card is out of stock then? Is everyone just not as smart as you?

[Zando Bob]

Just now, Enderman said:

LOL nope, that's not gonna happen.

The amount you're making each day is getting lost in power costs and system degradation.

I think our main beef with mining is that we both try and help people on budget builds, and mining is killing the mid range card market right now, so there's pretty much the 1060 and 1050Ti left. Take those, and all the new gamers will have pretty bummed builds. Main problem for miners is they buy way more cards than normal gamers, so there aren't any left. If y'all just bought 2, we wouldn't be grouching. 

[Zando Bob]

1 minute ago, Ninetales said:

Lol! Yes, I would agree but best price per hash as of today is the 1060 6GB or the RX 560. The 560 will produce more H per $ but the 1060 can dual mine + higher resale value when you decide to get out.

IMO, you should just get a job instead of mining. Or just get 2 cards and be reasonable. I'm not trying to diss miners as a whole, but depleting the market of cards other people can use just to get some extra cash isn't the best thing to do. Like I said in my other reply, I'm on this forum to do my best to help people, and I can't if there's no hardware left to reccomend. 

[Ninetales]

Just now, Zando Bob said:

IMO, you should just get a job instead of mining. Or just get 2 cards and be reasonable. I'm not trying to diss miners as a whole, but depleting the market of cards other people can use just to get some extra cash isn't the best thing to do. Like I said in my other reply, I'm on this forum to do my best to help people, and I can't if there's no hardware left to reccomend. 

I do have a job, it's how I paid for the parts I'm purchasing... and you can't blame me for depleting the market, there's people all over the world doing this and I'm just on the train. Given a few months time most stock should be back to normal.

[Enderman]

8 minutes ago, Ninetales said:

Would you like to explain why every top of the line RX card is out of stock then? Is everyone just not as smart as you?

It's because kids think it's free money.

Just look at all the people who bought thousands of dollars of GPUs 8 years ago or however long it was for mining bitcoins and they pretty much lost all of it.

[Zando Bob]

1 minute ago, Ninetales said:

I do have a job, it's how I paid for the parts I'm purchasing... and you can't blame me for depleting the market, there's people all over the world doing this and I'm just on the train. Given a few months time most stock should be back to normal.

Yeah, think I said that a little too harshly... 😬. I just think you should be good with 2 cards, 4 at the most. I suppose you know what you're doing though, so at least they won't go to waste. It's mainly noobs who think they'll get free money somehow and don't account for all the expenses I'm worried about. 

[Ninetales]

Just now, Enderman said:

It's because people think it's free money.

Just look at all the people who bought thousands of dollars of GPUs 8 years ago or however long it was for mining bitcoins and they pretty much lost all of it.

Once ASIC miners were released it completely ruined GPU mining bitcoin, but that doesn't go to say that they "lost all of it".

Your money is always somewhat protected due to resale.

[SnipingBow]

8 minutes ago, Zando Bob said:

IMO, you should just get a job instead of mining. Or just get 2 cards and be reasonable. I'm not trying to diss miners as a whole, but depleting the market of cards other people can use just to get some extra cash isn't the best thing to do. Like I said in my other reply, I'm on this forum to do my best to help people, and I can't if there's no hardware left to reccomend. 

Honestly I have a full time job and won't quit it (pays me very well). And you won't be telling me what to do. This is what a free market looks like and this is the world you live in, accept it or go live in a forest. Honestly, when there is a lot of demand for something, rarety is created and price skyrockets, that's simple economics. You can't change it and neither can I. You won't change peoples/the markets attitude by posting this kind of posts. Everyone is doing it. If you can't beat them, join them.

 

I was a PCMR before all this, and I don't care that all of this is happening. Why? Because I got my PC built during a diffrent timeframe. The ''normal'' times will come back. IDK why people like you are freaking out. My god...

 

Im doing this for fun, money and because I believe ETH will rise. What is the big deal?

[rn8686]

5 minutes ago, Enderman said:

It's because kids think it's free money.

Just look at all the people who bought thousands of dollars of GPUs 8 years ago or however long it was for mining bitcoins and they pretty much lost all of it.

You still seem to forget two things about that. 

You can A; Re-sell those cards for most of their value, and B; The reason GPU mining dies out with BTC was because ASIC cards came along. That cant happen with many Alt coins, they are designed to be asic resistant.

 

Edit: Nor is it free money, it provides a valuable service to Eth and BTC (or whatever currency is being mined).  

[Ninetales]

1 minute ago, Zando Bob said:

Yeah, think I said that a little too harshly... 😬. I just think you should be good with 2 cards, 4 at the most. I suppose you know what you're doing though, so at least they won't go to waste. It's mainly noobs who think they'll get free money somehow and don't account for all the expenses I'm worried about. 

Yeah, I have seen a trend myself of people who don't necessarily know much about mining but see that it can return massive amounts of money in short periods of time, which isn't true either. I'm putting around $2K into a build and after power costs I will see ROI in about 2.5 months, shorter since I'm using a few spare parts from previous builds as well. It's just a trend, it'll die when it's not as quickly profitable(which is how it has been before ETH skyrocketed). I think we're living on the edge of the cryptocurrency age... only a matter of time before amazon starts accepting your bitcoin

[Zando Bob]

6 minutes ago, SnipingBow said:

Honestly I have a full time job and won't quit it. And you won't be telling me what to do. This is what a free market looks like and this is the world you live in, accept it or go live in a forest. Honestly, when there is a lot of demande for something, rarety is created and price skyrocket, that's simple economics. You can't change it and neither can I. You won't change peoples/the markets attitude by posting this kind posts. Everyone is doing it. If you can't beat them join them.

 

I was a PCMR before all this, and I don't care that all of this is happening. Why? Because I got my PC built during a diffrent timeframe. The ''normal'' times will come back. IDK why people like you are freaking out. My god...

Think I stated my point a little harshly. I'm freaking out because it's making it a lot harder to help people out on budget-midrange builds since all the GPUs are either fast disappearing or getting more expensive. I would mine if it didn't seem sketchy to me, but I'd only use my cards I have, since I'd do it to tinker, not make money. And like I said earlier, it's mainly people who think like this that worry me:

8 minutes ago, Enderman said:

It's because kids think it's free money.

Just look at all the people who bought thousands of dollars of GPUs 8 years ago or however long it was for mining bitcoins and they pretty much lost all of it.

 

 

And I'm not trying to tell you what to do, im just stating my opinion on why I don't like mining as a general rule. 

[Enderman]

4 minutes ago, rn8686 said:

You still seem to forget two things about that. 

You can A; Re-sell those cards for most of their value, and B; The reason GPU mining dies out with BTC was because ASIC cards came along. That cant happen with many Alt coins, they are designed to be asic resistant.

 

Edit: Nor is it free money, it provides a valuable service to Eth and BTC (or whatever currency is being mined).  

1) No, unless you lie and say it wasn't used for mining, nobody intelligent wants to buy a card that will fail in a few years.

 

2) No, the reason it died is because it became hard to mine. This will happen with literally every virtual coin.

 

3) No, it is literally 0 value. The only value it has is what people are willing to pay for it or work for it. Just like any other virtual currency.

[Ninetales]

27 minutes ago, Enderman said:

1) No, unless you lie and say it wasn't used for mining, nobody intelligent wants to buy a card that will fail in a few years.

 

2) No, the reason it died is because it became hard to mine. This will happen with literally every virtual coin.

 

3) No, it is literally 0 value. The only value it has is what people are willing to pay for it or work for it. Just like any other virtual currency.

So does real money, too. A piece of paper in your pocket that says $10 doesn't actually have a value of $10 unless others will accept it for $10.
So then you and everyone agree that $10 will be worth $10. Difference with coins is there's no government to say "one bitcoin is worth $100" or "one etherum is worth $50".

[Enderman]

8 minutes ago, Ninetales said:

So does real money, too. A piece of paper in your pocket that says $10 doesn't actually have a value of $10 unless others will accept it for $10.
So then you and everyone agree that $10 will be worth $10. Difference with coins is there's no government to say "one bitcoin is worth $100" or "one etherum is worth $50".

Exactly, you're right, the value is not the currency itself.

Also what's different with coins is that there's nobody to say that X is worth anything, so you never know what the price will be the next day, or how hard to mine it will be.

[Ninetales]

3 minutes ago, Enderman said:

Exactly, you're right, the value is not the currency itself.

Also what's different with coins is that there's nobody to say that X is worth anything, so you never know what the price will be the next day, or how hard to mine it will be.

Well, since it's a technology rather than someone controlling it, it's fairly linear to see how much of a certain coin you will make over a certain period of time with mining, but value is correct. Many ETH miners from the 10-20$ days may have been wasting more on power at the time, but the few that held now see a 20x value from what they were making... back then.

[rn8686]

56 minutes ago, Enderman said:

1) No, unless you lie and say it wasn't used for mining, nobody intelligent wants to buy a card that will fail in a few years.

 

2) No, the reason it died is because it became hard to mine. This will happen with literally every virtual coin.

 

3) No, it is literally 0 value. The only value it has is what people are willing to pay for it or work for it. Just like any other virtual currency.

1. Budget builders would have little options, the card may well last long enough for them (A few years). 

 

2. And ASIC cards were better to use in place of that, and miners still get payed with transaction fees. You also fail to realise that this will take many years to happen (Especially since its only GPUs) and other currencies will come in and be equally popular to mine (Nice hash pays in BTC, a stable currency, so I dont care if Eth fails so long as something replaces it). 

 

3. As does real money, people use it because they believe it has value. The point is that people control it rather that corporations or governments and isnt so susceptible to economic crisis or inflation.