Mining, is it really profitable?

[DIV1D3]

Then the only other option for mining to be really profitable is to mine new coins and hope they become worth a good amount after a few weeks.

A few weeks? Anywho I'll just mine VTC, atm I just want to know if getting 3 Gigabyte R9 280Xs for 1,200 AUD is a good plan.

The rest I will get in the coming weeks and will include the Silverstone Strider Gold Evolution 1200W and Intel Pentium G3220 I'll use my mobo which is the ASRoCk Fatl1ty Z87 Killer. And I'll get some Kingston ValueRAM 4GB 133MHz CL11 RAM. So what do you guys think? 

Thanks for all of your help everyone. 

[Pelop17]

A few weeks? Anywho I'll just mine VTC, atm I just want to know if getting 3 Gigabyte R9 280Xs for 1,200 AUD is a good plan. I'd also like to know about the RAM, since I will mine VTC would I gain more MH/s later down the track if I buy a 4GB module and then another 4GB or just buy an 8GB/2x4GB now?

The rest I will get in the coming weeks and will include the Silverstone Strider Gold Evolution 1200W and Intel Pentium G3220 I'll use my mobo which is the ASRoCk Fatl1ty Z87 Killer. 

And with the RAM I'm looking at either getting a module of Corsair Vengeance 1600MHz CL9 4GB ($59) and sticking with just it or getting another later on, Kingston ValueRAM 1600MHz CL11 2x4GB ($95) or get one Kingston ValueRAM 1333MHz CL11 4GB ($49) now sticking with that or getting another when I buy the other stuff I want at the end of the year. 

Thanks for all of your help everyone. 

i have a question for you? Will you buy 1 r9 290 or 2 r9 280x. ?

And what is VTC, and what is scrypt-n?

[DIV1D3]

i have a question for you? Will you buy 1 r9 290 or 2 r9 280x. ?

And what is VTC, and what is scrypt-n?

Ima buy 3 R9 280Xs, VTC is just the tag for Vertcoin and it's algorithm is Scrypt-N. Scrypt-N is really a harder version of Scrypt and it increases the required amount of RAM every however many years. Personally I think the increases should be at least every year and I hope the devs make it so. 

[Pelop17]

Ima buy 3 R9 280Xs, VTC is just the tag for Vertcoin and it's algorithm is Scrypt-N. Scrypt-N is really a harder version of Scrypt and it increases the required amount of RAM every however many years. Personally I think the increases should be at least every year and I hope the devs make it so. 

i will be able to mine with 600khs ? Also will i be making any profit?

[DIV1D3]

i will be able to mine with 600khs ? Also will i be making any profit?

You'll be able to mine with 0.0001h/s it depends on what the power consumption is how much you pay for electricity. On, VTC, at this very moment, yes. But expect that to change, I don't think you should get into mining right now though, do some more reasearch and what your electricity costs will be. Check out this place:

http://www.coinwarz.com/calculators/vertcoin-mining-calculator/?h=600&p=500&pc=0.20&pf=0.00&d=242.84519071&r=50.00000000&er=0.00290112&btcer=572.00000000&hc=700

Btw that's a complete guess, work out the hash you will get, your power consumption and the $/kw for electricity. 

 

Anyways, I'd like to get back on track and know if the following wil make a good mining rig:

With:

Keep in mind I already have a mobo that I will use which is an ASRock Fatal1ty Z87 Killer. Thanks for all of the help, I just need your help on theses few things. 

[Pelop17]

You'll be able to mine with 0.0001h/s it depends on what the power consumption is how much you pay for electricity. On, VTC, at this very moment, yes. But expect that to change, I don't think you should get into mining right now though, do some more reasearch and what your electricity costs will be. Check out this place:

http://www.coinwarz.com/calculators/vertcoin-mining-calculator/?h=600&p=500&pc=0.20&pf=0.00&d=242.84519071&r=50.00000000&er=0.00290112&btcer=572.00000000&hc=700

Btw that's a complete guess, work out the hash you will get, your power consumption and the $/kw for electricity. 

 

Anyways, I'd like to get back on track and know if the following wil make a good mining rig:

With:

Keep in mind I already have a mobo that I will use which is an ASRock Fatal1ty Z87 Killer. Thanks for all of the help, I just need your help on theses few things. 

your build is great if you want you can buy a cheaper mobo

[DIV1D3]

your build is great if you want you can buy a cheaper mobo

I've already got it, that's why I didn't include it with the items at PCCG. 

[Mac]

A few weeks? Anywho I'll just mine VTC, atm I just want to know if getting 3 Gigabyte R9 280Xs for 1,200 AUD is a good plan.

The rest I will get in the coming weeks and will include the Silverstone Strider Gold Evolution 1200W and Intel Pentium G3220 I'll use my mobo which is the ASRoCk Fatl1ty Z87 Killer. And I'll get some Kingston ValueRAM 4GB 133MHz CL11 RAM. So what do you guys think? 

Thanks for all of your help everyone. 

Yes. Mine a new coin at it's launch so the difficulty is really low and you can get a lot of coins quickly then just wait for the value of that coin to go up. It's a hit or miss with what coins though.

[theelitegamer]

IMO 42.21 is alot if you ask me though... I'm thinking of just going AMD just for this cause... I mean yeah it's like 50 dollars - 100 dollars a week (depending on your build) but it's something right? 

[Luc401]

IMO 42.21 is alot if you ask me though... I'm thinking of just going AMD just for this cause... I mean yeah it's like 50 dollars - 100 dollars a week (depending on your build) but it's something right? 

The only way you would be making 42.21 a week would be with 3000KHS that would be about 7 270s running 24/7 at the current rate , thats also without the power bill.For 7 of the cars right now you would be paying 1400$ plus good luck trying to mine on your main rig 24/7 it sucks

[DIV1D3]

Yes. Mine a new coin at it's launch so the difficulty is really low and you can get a lot of coins quickly then just wait for the value of that coin to go up. It's a hit or miss with what coins though.

Well u wull try that, but I'd definitely like to have a final answer from you guys, do youvthink it will be good or not? Have I missed anything? With the coins I'd actually like to start out on VTC but ASICs for Scrypt have brought more ppl over to it, which we all know increases the difficulty. Though VTC only has a difficulty of 240 or something, is that moderately difficult or easy/somewhat easy?

IMO 42.21 is alot if you ask me though... I'm thinking of just going AMD just for this cause... I mean yeah it's like 50 dollars - 100 dollars a week (depending on your build) but it's something right?

Wait, what? I'd get $50 a week, not $100. I think VTC is a good place to start, atm if its what I go with and all my parts get here quick than I'd be able to make a lot more by mining it now and then selling them when the difficulty is too much that another coin is more profitable. Or I could just hang on to them and see if they increase in value even more.

[DIV1D3]

The only way you would be making 42.21 a week would be with 3000KHS that would be about 7 270s running 24/7 at the current rate , thats also without the power bill.For 7 of the cars right now you would be paying 1400$ plus good luck trying to mine on your main rig 24/7 it sucks

How did you work this out? Here they cost about $220, that's the cheapest, and that would be $1,540 and the hash would be about 3,100KH/s. that's pretty good but I don't have thy much to spend, I have $1,200. I'd like to know the calculation for the hash, I can't really look through the thread atm but I think someone else already has. Anyways, what about the build I have out together, what do your think, have I missed something? Btw I dot mean parts wise but as in overall if I've overlooked something important that would have to make me reconsider this.

[theelitegamer]

Well u wull try that, but I'd definitely like to have a final answer from you guys, do youvthink it will be good or not? Have I missed anything? With the coins I'd actually like to start out on VTC but ASICs for Scrypt have brought more ppl over to it, which we all know increases the difficulty. Though VTC only has a difficulty of 240 or something, is that moderately difficult or easy/somewhat easy? Wait, what? I'd get $50 a week, not $100. I think VTC is a good place to start, atm if its what I go with and all my parts get here quick than I'd be able to make a lot more by mining it now and then selling them when the difficulty is too much that another coin is more profitable. Or I could just hang on to them and see if they increase in value even more.

I would hold them if anything, I mean your basically make a minimum wage job right there matey, maybe 20 dollars less.

[Luc401]

How did you work this out? Here they cost about $220, that's the cheapest, and that would be $1,540 and the hash would be about 3,100KH/s. that's pretty good but I don't have thy much to spend, I have $1,200. I'd like to know the calculation for the hash, I can't really look through the thread atm but I think someone else already has. Anyways, what about the build I have out together, what do your think, have I missed something? Btw I dot mean parts wise but as in overall if I've overlooked something important that would have to make me reconsider this.

When mining on your main rig you experience something called "desktop lag"It makes your whole desktop studder every second or so depending on your intensity.To remove this "lag" you have to lower your intensity making your KH/s lower.Having the little lag spike every couple of seconds is quite annoying and makes the experience not that great.

[jredman79]

I think I'm missing something here.  I have a GTX 770 and tried (and got frustrated) in mining BTC.  I'm saying to hell with it, it seems that NVidia isn't suited for that.  But then there's the Butterfly Labs ASICs that are in the GH/s and the kinda money that people are putting down on multiple GPUs, why not just use one of their 65nm solutions in stock for 10GH/s rates until the new Monarchs are available at 300GH/s??

[roid]

I think I'm missing something here.  I have a GTX 770 and tried (and got frustrated) in mining BTC.  I'm saying to hell with it, it seems that NVidia isn't suited for that.  But then there's the Butterfly Labs ASICs that are in the GH/s and the kinda money that people are putting down on multiple GPUs, why not just use one of their 65nm solutions in stock for 10GH/s rates until the new Monarchs are available at 300GH/s??

Good question, 10 GH ASIC is merely a waste of money at this point in BTC mining, 10GHs would yield 0.66$ USD per day and you would not see a return on your $300 investment in more than a year of mining. The butterfly ASIC that has 300 GH/s avaliable for preorder is 1.5k USD would yeild $20 a day at the current BTC block difficulty and price per coin, however BTC is a very volitiale currency at this early stage and could always go down in value and BTC block difficulty is continuously rising. If you invested 1.5k today and BTC went down to 300$ or the block difficulty increased tremendously before recieving the 300 GH ASIC it would take a long time to see a return/profit in your investment. These ASICs are not warrantied or manufactured to the extent as well known GPU manufactures, if BTC collapsed then your 1.5k ASIC would merely be a useless piece of hardware. At the current rate and difficulty of BTC you would yeild 20$/day and ~$600/month with 300 GHs, so it would take about 3 months for you to see a profit. An alternative investment would be to spend ~$400 for a BTC mobo/ram/cpu/USB risers/PSU (PM me if you want to know my Mining Rig builds for this price) and then $400+ more for a 280x or 290, 290x gpus toward mining scrypt and scpryptN, scrpytjane algorithm coins. All these components would come with warranties and also good resell value, along with good gaming potential unlike ASICs would. Instead of paying 1.5k toward an ASIC that would yield you $20/day with sha256 BTC mining, you could buy a mining rig that would yield about $15/day ~.025 btc/day which isnt really that good compared to previous months and is very volatile towards the value of btc. At the current status of BTC block/value compared to scrypt/value I suppose the 300GH ASIC would yield more of a profit for the amount of money you invest in hardware, however you need to account for the product's durability, warranties, and resell value. If it comes down to a cryptocurrency collapse then I would feel much better owning GPUs from manufactures such as MSI,Gigabyte, EVGA, etc. over ASIC manufactures that have no resell value if BTC or cryptocurrency as a whole plummets. Im not saying it will ever collapse, but its better to prepare for such a thing when investing a lot of money.

[Lil Chillbil]

bitcoin may as well be out the window, litecoin is more the future.

[DIV1D3]

Good question, 10 GH ASIC is merely a waste of money at this point in BTC mining, 10GHs would yield 0.66$ USD per day and you would not see a return on your $300 investment in more than a year of mining. The butterfly ASIC that has 300 GH/s avaliable for preorder is 1.5k USD would yeild $20 a day at the current BTC block difficulty and price per coin, however BTC is a very volitiale currency at this early stage and could always go down in value and BTC block difficulty is continuously rising. If you invested 1.5k today and BTC went down to 300$ or the block difficulty increased tremendously before recieving the 300 GH ASIC it would take a long time to see a return/profit in your investment. These ASICs are not warrantied or manufactured to the extent as well known GPU manufactures, if BTC collapsed then your 1.5k ASIC would merely be a useless piece of hardware. At the current rate and difficulty of BTC you would yeild 20$/day and ~$600/month with 300 GHs, so it would take about 3 months for you to see a profit. An alternative investment would be to spend ~$400 for a BTC mobo/ram/cpu/USB risers/PSU (PM me if you want to know my Mining Rig builds for this price) and then $400+ more for a 280x or 290, 290x gpus toward mining scrypt and scpryptN, scrpytjane algorithm coins. All these components would come with warranties and also good resell value, along with good gaming potential unlike ASICs would. Instead of paying 1.5k toward an ASIC that would yield you $20/day with sha256 BTC mining, you could buy a mining rig that would yield about $15/day ~.025 btc/day which isnt really that good compared to previous months and is very volatile towards the value of btc. At the current status of BTC block/value compared to scrypt/value I suppose the 300GH ASIC would yield more of a profit for the amount of money you invest in hardware, however you need to account for the product's durability, warranties, and resell value. If it comes down to a cryptocurrency collapse then I would feel much better owning GPUs from manufactures such as MSI,Gigabyte, EVGA, etc. over ASIC manufactures that have no resell value if BTC or cryptocurrency as a whole plummets. Im not saying it will ever collapse, but its better to prepare for such a thing when investing a lot of money.

This is exactl why I want to GPU mine, not with ASICs or in the cloud or BTC arbitrage or some other crap. 

 

I think I'm missing something here.  I have a GTX 770 and tried (and got frustrated) in mining BTC.  I'm saying to hell with it, it seems that NVidia isn't suited for that.  But then there's the Butterfly Labs ASICs that are in the GH/s and the kinda money that people are putting down on multiple GPUs, why not just use one of their 65nm solutions in stock for 10GH/s rates until the new Monarchs are available at 300GH/s??

No Nvidia is not good for mining cryptocurrencies, though you can still make something out of them if you just have 5 Titan Blacks laying around. 

 

Use the iGPU to avoid screen lag and reduced hashrate.

Does this screen lag do anything other than just affect the monitor. I have a secondary old monitor that I'll use, so I won't mind it. 

 

When mining on your main rig you experience something called "desktop lag"It makes your whole desktop studder every second or so depending on your intensity.To remove this "lag" you have to lower your intensity making your KH/s lower.Having the little lag spike every couple of seconds is quite annoying and makes the experience not that great.

I'd rather have more KH/s than not having screen lag. 

 

I would hold them if anything, I mean your basically make a minimum wage job right there matey, maybe 20 dollars less.

Well I've already got a pert-time job, so yeh, more moneys . 

Anyways, so is my build good? I'd like to know if you think there are any flaws in it. 

[DIV1D3]

bitcoin may as well be out the window, litecoin is more the future.

[Fred Castellum]

What the heck how is this thread still rolling? Of course mining is profitable if done right. 

 

It's something that is time based and equipment based. Requires thinking and monitoring of the crypto-currencies in question. 

Boom done!

[DIV1D3]

What the heck how is this thread still rolling? Of course mining is profitable if done right. 

 

It's something that is time based and equipment based. Requires thinking and monitoring of the crypto-currencies in question. 

Boom done!

Yeh, I did figure that out quite a bit ago, just thought I'd ask people opinion about my build here instead of making a new thread. No one has actually told me there is anything wrong with my build, which is good but only one person has said it "looks good". 

[AK0490]

What the heck how is this thread still rolling? Of course mining is profitable if done right. 

 

It's something that is time based and equipment based. Requires thinking and monitoring of the crypto-currencies in question. 

Boom done!

This. There is also a lot more out there then just Scrypt coins and Vtc. Some of theses new coins are actually much nicer to mine too, the cards run much cooler and more power efficiently. 

.

Yeh, I did figure that out quite a bit ago, just thought I'd ask people opinion about my build here instead of making a new thread. No one has actually told me there is anything wrong with my build, which is good but only one person has said it "looks good". 

Your build was kinda changing,what exactly was it again? From what I saw you were on the right track. 280x is a very nice card for mining and can be run without getting any desktop lag. 

[CCap]

I'm late to the game here and I'm not going to scroll through all three pages since I only have a few minutes, but here is my $0.02.

 

With the current generation of cards available they are only so profitable. Sure you can buy TONS of them, but the profitability is the same. You can buy ten R9 290X's and it would be equally as profitable as having one. The one with ten cards would obviously make more money overall, but of course they would marginally make the same. (e.g. 0.6% of their money back everyday)

 

What is the short answer of is mining profitable? Kinda. 

[dragosudeki]

I think it was profitable before. Getting into it now isn't too great as I think bitcoin will remain stable at its current price and bitcoin is losing its public appeal to governments with all the losses and suicides associated with it.

[AK0490]

I think it was profitable before. Getting into it now isn't too great as I think bitcoin will remain stable at its current price and bitcoin is losing its public appeal to governments with all the losses and suicides associated with it.

From what I've seen we are at 12 suicides this year in the financial world. ONE of those was Btc related. Looks like the banking world isn't doing so well.