What do I need to Mine CryptoCurrencies ?

[Morad Tamer]

As the title says
What do I need to mine BitCoin and Etherum
In other words which gives more Hashes/Sec for BitCoin and Etherum CPUs or GPUs
Also what other specs do I need for the rest of the system and how do I exchange the CryptoCurrency into really money


I don't know if this a good category for this question

 

[Dan28453]

nicehash miner
rx series
i3
https://unichange.me

gibe me solved thing pls <3

 

[Morad Tamer]

nicehash miner
rx series
i3
https://unichange.me

gibe me solved thing pls <3

Thank you so much

 

[13thmonkey]

nicehash miner
rx series
i3
https://unichange.me

gibe me solved thing pls <3

Please don't beg for BA's

 

[g-unit1111]

FYI - if you decide to get into coin mining, this is what you will be competing against - and the reason why GPUs aren't currently available, or going for ridiculously high prices:

 

[TJ Hooker]

- Amateur/individual bitcoin mining is long dead.
- For eth mining, you'll want RX 480s/580s/470s/570s, or GTX 1060s/1070s. However, these cards are either unavailable or have hugely inflated prices due to miners buying them up. It's entirely possible you'll never break even on the cost of your mining rig. Rest of the rig specs aren't that important.
- You need to factor in electricity costs as well.
- If you use nicehash, you'll need to set up a bitcoin wallet in order to receive payments (in bitcoin). Haven't actually figured out the bitcoin to real currency part yet myself lol

 

[g-unit1111]

- Amateur/individual bitcoin mining is long dead.
- For eth mining, you'll want RX 480s/470s, or GTX 1060s/1070s. However, these cards are either unavailable or have hugely inflated prices due to miners buying them up. It's entirely possible you'll never break even on the cost of your mining rig. Rest of the rig specs aren't that important.
- You need to factor in electricity costs as well.
- If you use nicehash, you'll need to set up a bitcoin wallet in order to receive payments (in bitcoin). Haven't actually figured out the bitcoin to real currency part yet myself lol

Plus you'll need to factor in the costs of a good firewall (bitcoins are very easily stolen with zero accountability / insurance) and virus protection (bitcoins are also prone to viruses) - both things should definitely not be consumer grade.

 

[Dan28453]

- Amateur/individual bitcoin mining is long dead.
- For eth mining, you'll want RX 480s/470s, or GTX 1060s/1070s. However, these cards are either unavailable or have hugely inflated prices due to miners buying them up. It's entirely possible you'll never break even on the cost of your mining rig. Rest of the rig specs aren't that important.
- You need to factor in electricity costs as well.
- If you use nicehash, you'll need to set up a bitcoin wallet in order to receive payments (in bitcoin). Haven't actually figured out the bitcoin to real currency part yet myself lol

what he said^^

 

[Dan28453]

honestly, follow the instructions on the nicehash website and youll be good to go, best of luck and happy mining!

 

[Morad Tamer]

FYI - if you decide to get into coin mining, this is what you will be competing against - and the reason why GPUs aren't currently available, or going for ridiculously high prices:

I know what I getting myself into
I also know that mining is the reason the prices of GPUs is skyrocketing
So I figured I might join the cause

 

[g-unit1111]

I know what I getting myself into
I also know that mining is the reason the prices of GPUs is skyrocketing
So I figured I might join the cause

I have heard that NVIDIA and AMD are both going to market coin mining-specific GPUs but have heard no word on availability as of yet. I'm buying a 1070 once the surplus of used ones hits eBay. Come on surplus!

 

[Dan28453]

theyre gonna overcharge for the mining oriented gpus..they will estientially be the same besides tightened timings and reduced power consumption which can be done ez on a consumer gpu with bios modding.

 

[spdragoo]

I know what I getting myself into
I also know that mining is the reason the prices of GPUs is skyrocketing
So I figured I might join the cause

I have heard that NVIDIA and AMD are both going to market coin mining-specific GPUs but have heard no word on availability as of yet. I'm buying a 1070 once the surplus of used ones hits eBay. Come on surplus!

Techspot & Tom's Hardware have already started mentioning a couple of them. Basic changes seem to be twofold:

1. A lack of any video outputs (http://www.anandtech.com/show/11579/asus-sapphire-release-pascal-and-polarisbased-cryptocurrency-mining-cards-), or possibly just 1 DisplayPort jack on it. On the 1 hand, it makes sense, because if you're using them for cryptomining, you're not worried about hooking those cards up to a monitor. On the other hand, it makes it much, much harder to resell them down the road when a) they can no longer keep up for crypto mining purposes, b) Etherium joins Bitcoin in no longer being easy to mine on these kinds of setups, or c) a combination of the 2.

2. Greatly reduced manufacturer warranties. As noted in the comments in this post on Techspot (https://www.techspot.com/news/69895-asus-launch-custom-gpus-bitcoin-mining.html), Sapphire for one is now limiting the return policy for all of those RX 470/480/570/580 cards to 180 days -- even the regular ones -- instead of their usual 2-year return policy. Not sure if the other companies will follow along, but I wouldn't be surprised. Which means that any crypto miner whose card gives out after a little more than 6 months is going to essentially have to pay full price to replace them, since they'll be out of warranty.

 

[g-unit1111]

2. Greatly reduced manufacturer warranties. As noted in the comments in this post on Techspot (https://www.techspot.com/news/69895-asus-launch-custom-gpus-bitcoin-mining.html), Sapphire for one is now limiting the return policy for all of those RX 470/480/570/580 cards to 180 days -- even the regular ones -- instead of their usual 2-year return policy. Not sure if the other companies will follow along, but I wouldn't be surprised. Which means that any crypto miner whose card gives out after a little more than 6 months is going to essentially have to pay full price to replace them, since they'll be out of warranty.

That is really interesting. It is good to know that.

 

[13thmonkey]

I'm not sure if they'd get away with that in the UK, I thought that there was some minimum period that things had to be warrantied for, regardless of the usage pattern which is what they are trying to cover against.

 

[Morad Tamer]

2. Greatly reduced manufacturer warranties. As noted in the comments in this post on Techspot (https://www.techspot.com/news/69895-asus-launch-custom-gpus-bitcoin-mining.html), Sapphire for one is now limiting the return policy for all of those RX 470/480/570/580 cards to 180 days -- even the regular ones -- instead of their usual 2-year return policy. Not sure if the other companies will follow along, but I wouldn't be surprised. Which means that any crypto miner whose card gives out after a little more than 6 months is going to essentially have to pay full price to replace them, since they'll be out of warranty.

So that means that even normal Mid-Tier Cards are gonna get a very short warranty period
That is terrible

 

[spdragoo]

I'm not sure if they'd get away with that in the UK, I thought that there was some minimum period that things had to be warrantied for, regardless of the usage pattern which is what they are trying to cover against.

Wasn't sure myself, but a quick Google search turned this up:

http://www.thisismoney.co.uk/money/bills/article-1677034/Two-year-warranty-EU-law.html

Having some trouble pulling up the wording on this "Sales of Goods Act", but the significant portion are these three paragraphs:

Under UK law, buyers in England and Wales can get a partial refund or full repair up to six years after the purchase was made (five years from discovery in Scotland). The refund should take into account how much use the customer has already had of a product. Ultimately, a county court would decide this.
However, the likelihood of getting such a refund is dramatically reduced after just six months. The reason is that for six months after the purchase, it is up to the retailer to show that a fault on an item is down to the actions or misuse of the buyer, rather than an inherent fault in the product.
After six months, the burden of proof switches to the buyer and it is they who must then show a fault is due to some inherent problem, something that can be almost impossible in all but the most straightforward cases.

In other words, 6 months/180 days (at least over in the UK) appears to be the minimum time that a retailer or manufacturer would have to do, because any claims within that time frame require the retailer/manufacturer to prove that it was the consumer's fault the product failed vs. a flaw in the product...but after that timeframe, it flips over to the consumer having to prove that the product was actually faulty vs. consumer-caused problem (or even "normal" wear & tear).

EDIT: The page finally loaded.

http://webarchive.nationalarchives.gov.uk/20090609003228/http://www.berr.gov.uk/whatwedo/consumers/fact-sheets/page38311.html

This is the "fact sheet" for the Sale of Goods Act, which reiterates the 6-month "switchover" in terms of who has the burden of proof in the claim.