Mining Equipment

[Alan Collins]

Hi all. We  wanna know what you think if my friend  start mining crypto ? Please tell me what kind of equipment he has to buy (not expensive)? If you know how to buy and surely where to buy please answer. Hope that Professionals replies us.

[Trevor87]

Go Second hand.

[NelizMastr]

Kinda late to the party. What kind of equipment you need depends on which coin you want to mine. Some coins benefit from a CPU and not much from GPU, some from storage and some from GPUs.

 

Due to the recent crashes in value of a lot of cryptocurrencies, expect a long ROI time.

[LienusLateTips]

Yeah, don't start now... 

It's usually just a ton of AMD graphics cards you need ($200-300 each, quite a few minimum for ROI) and whatever you want for the rest of the system.

 

You'll need ASICs for the currencies now since the difficulty is getting much harder, and those are VERY expensive...

[NelizMastr]

Indeed. You'll need to put in a few grand to ever see any decent result.

[johnukguy]

You can mine with a mid level Ryzen based system, with a decent single graphics card, but don't expect to make more than about $30 a month at the moment, depending on your electricity costs. The days of buying several GPUs and making back their cost and profit in a decent space of time is over. Then again, some older CPU's such as the FX 8350's, turn out to be good for mining some coins because of their level 3 cache memory.

So you don't have to spend much to get some return, but I'd really suggest just building a system around a Ryzen 1600 or above and a GTX 1060 6Gb or above, and keep things simple. If you're in the US, then building a system like this is even cheaper if you get a combo deal from Microcenter, or price matching from Staples/Frys. You can pick up a Ryzen 5 1600 plus a mobo for just under $200 total.

[Alan Collins]

11 minutes ago, Trevor87 said:

Go Second hand.

Sounds good but we don't think that used hardware works properly as needed. All the same he wants earn money.

[Alan Collins]

14 minutes ago, NelizMastr said:

Kinda late to the party. What kind of equipment you need depends on which coin you want to mine. Some coins benefit from a CPU and not much from GPU, some from storage and some from GPUs.

 

Due to the recent crashes in value of a lot of cryptocurrencies, expect a long ROI time.

So which kind you can advice him to mine ?

 

[Blebekblebek]

Instead researching about what equipment do you need, you need to focus on what crypto currencies do you want to mine?

After that, calculate how much power you can provide and how much it cost, add it into your calculation from how much you expect to make daily, and how much your expenses.

 

My point is, you have so much thing to learn first other than just buying the hardware.

[Alan Collins]

2 minutes ago, Blebekblebek said:

Instead researching about what equipment do you need, you need to focus on what crypto currencies do you want to mine?

After that, calculate how much power you can provide and how much it cost, add it into your calculation from how much you expect to make daily, and how much your expenses.

 

My point is, you have so much thing to learn first other than just buying the hardware.

So thats why wa want to hear from professionals. I told hom what to do )) but he persistently told me to ask professionals ))

[Trevor87]

If your new at mining I would suggest watch UFDTech videos https://www.youtube.com/channel/UC4Z8mPYjn6Dhr6n531YDh0Q it lead you in the right direction.

[Alan Collins]

17 minutes ago, johnukguy said:

You can mine with a mid level Ryzen based system, with a decent single graphics card, but don't expect to make more than about $30 a month at the moment, depending on your electricity costs. The days of buying several GPUs and making back their cost and profit in a decent space of time is over. Then again, some older CPU's such as the FX 8350's, turn out to be good for mining some coins because of their level 3 cache memory.

So you don't have to spend much to get some return, but I'd really suggest just building a system around a Ryzen 1600 or above and a GTX 1060 6Gb or above, and keep things simple. If you're in the US, then building a system like this is even cheaper if you get a combo deal from Microcenter, or price matching from Staples/Frys. You can pick up a Ryzen 5 1600 plus a mobo for just under $200 total.

Electricity costs : 0.003$ so what you can say ?

 

[LienusLateTips]

4 minutes ago, Alan Collins said:

Electricity costs : 0.003$ so what you can say ?

 

Are you sure? That seems... Strangely low. Is this per kilowatt hour?

[johnukguy]

2 minutes ago, Alan Collins said:

Electricity costs : 0.003$ so what you can say ?

 

Assuming that that's per Kwh then you should make some money on a single, decent GPU and a Ryzen CPU (which are often better than some of Intel's higher end CPU's for mining). That way you keep costs down and can still make back the cost of something like a 1060 6 Gb in decent time. If you can get a good deal on two GPU's, then go for it. But don't expect to be making a lot of money fast with any rig that most people can set up at home. Use something like Nichehash perhaps in the beginning to keep things simple. Crypto currencies are looking for bottom at the moment but will rise again over the next few months and probably reach 1 BTC to $10,000 within the next couple of months or so, looking at the current patterns in the market.

[Alan Collins]

1 minute ago, JDE said:

Are you sure? That seems... Strangely low. Is this per kilowatt hour?

yep 

 

[johnukguy]

It is probably the lowest cost I've seen, hence my suggesting two cards, but not beyond that. Even with such low electricity costs, crypto currencies are going to hit bottom and will take time to be stable again and at or above $10000, which is where realistic profit again, I think, becomes viable.

[Alan Collins]

5 minutes ago, johnukguy said:

It is probably the lowest cost I've seen, hence my suggesting two cards, but not beyond that. Even with such low electricity costs, crypto currencies are going to hit bottom and will take time to be stable again and at or above $10000, which is where realistic profit again, I think, becomes viable.

Thx . But we ddidn't see any answers for where to buy ))

[johnukguy]

3 minutes ago, Alan Collins said:

Thx . But we ddidn't see any answers for where to buy ))

I did in fact mention Microcenter, Staples and Frys.

[kelvinhall05]

Tell him to get a job. Crypto isn't profitable anymore. Even working at McDonalds will earn him more money.

[Alan Collins]

2 minutes ago, kelvinhall05 said:

Tell him to get a job. Crypto isn't profitable anymore. Even working at McDonalds will earn him more money.

 He has a job ))) don't worry) Simply wanna hear from pro's bro......

[Alan Collins]

24 minutes ago, johnukguy said:

I did in fact mention Microcenter, Staples and Frys.

So, Staples and Frys aren't good stores. Cuz to Frys he can't even to surf at the website, in staple the hardware he needs is out stock .So in the last Microcentre he told me that unavailable online ))) Umhhh wta you think about avadirect or cyberpowepc ?

 

[Mick Naughty]

Well if he doesn't want to buy used or actually pay for stuff, he doesn't wonna talk to pro, nor would they wonna talk to him.

 

You buy the cards where you can. Psu's from microcenter if you can or where every to get decent ones. Riser kits from amazon.

 

ROI will take for ever regardless of what hardware you get. Cheap crap or expensive crap.

[johnukguy]

2 hours ago, Alan Collins said:

So, Staples and Frys aren't good stores. Cuz to Frys he can't even to surf at the website, in staple the hardware he needs is out stock .So in the last Microcentre he told me that unavailable online ))) Umhhh wta you think about avadirect or cyberpowepc ?

 

Not much to be honest. You're better off building a system yourself. Regarding the stores mentioned - Frys are usually fine. They do have the 1600 in stock, so I'm not sure exactly what your friend is doing but he doesn't seem to be looking for the right CPU perhaps:

https://www.frys.com/product/9127138?site=sr:SEARCH:MAIN_RSLT_PG

Staples can have issues with availability from time to time but usually have stock of CPUs like the R 5 1600 on a regular basis and in fact do also have it in stock right now. So again, no that isn't out of stock at all:

https://www.staples.com/amd-ryzen-5-1600-hexa-core-6-core-3-20-ghz-processor-socket-am4retail-pack/product_IM18Q6822

As for Microcenter, you do have to go in and get the parts to get the combo deal. That's always been the case pretty much, and why I mentioned that being close to one is a factor, and to use Frys or Staples for price matching if you're not. Especially Staples as they offer a 110% price match.

One thing that needs mentioning though is that no place in the US has electricity costs that low and if your friend can't even surf sites like Frys, the chances are that he's in another country, in which case buying from the US is not really viable in some cases. Or this is all bullshit, which I'm beginning to suspect.

[Alan Collins]

ooh no no no. Why you suspecting that it bullshit ? comon man. It's good!!! He really wants to buy RIG from US or may be Europe but not from China . He just told me to ask abt his little startup. At on I've replied him how to do but it seems that he wanna hear from pro like you. Don't be upset 

[Mick Naughty]

Not many mining pro's on here if any. There isn't much to know buy the hardware and get to mining. Quite simple unless he really doesn't understand pc and pc components.