CHEAPEST MINING RIG for a student.
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It all depends on what you want to get out of it.
If you want cheap, use the computer you’re reading this on. Of course you’re going to get absolutely nothing in the way of hash rate without a GPU, but technically you can still mine with it, and get the experience of setting up a miner, pointing it at a pool, and seeing what it’s all about.
The MB/processor matters very little for a budget system. All that matters is that you stick the right GPU in there, and there’s tons of articles on the web comparing GPU mining speeds. Just google “GPU mining comparison”.
400 dollars is about the cost of a high-end GPU, which is what you need to see any sort of return on your investment. Most miners get as many of these spinning as they can, because that’s the only way to make your money back before the difficulty pushes you out of the game. ASIC’s are coming like winter in Game of Thrones, and when they arrive on the scene in the next 6 months, it’s going to make your GPU investment worth a whole lot less.
If you just want to acquire crypto-currency because you believe it has a great deal of value long term, then just buy it at an exchange and save yourself the hassle and heartache.
If you’re really convinced mining is the best option, do your math first: How much does 400 dollars buy of crypto-currency? How much can you mine with a 400 dollar card? How fast? How fast is difficulty going up? At that rate, how long do you have before you can’t achieve ROI? When do you think ASIC’s will come on the scene and disrupt that number? How much do you think your coins will be worth in that timeframe? Unless the numbers add up, chances are your throwing away money, and as a student I can’t see how that’s a good option for you. If the numbers make sense, perhaps you’d consider sharing them with us? I’m sure others could benefit from it.
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I can recomend R9 270 cards, very cheap and with impressive hashrate.
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[quote name=“ramano15” post=“50310” timestamp=“1389042046”]
Im looking for a lowbudget(200-400 euro) MINING RIG.Im not serious about it but would like to give it a go(and hopefully earn a tiny bit). I dont have to worry about my electricity costs. And i dont care if it takes to long.
Im pretty much a beginner to this and would really appreciate some help!!THNX!!!
Mark
[/quote]Depending on where you live, you might be able to get a rig for free.
Local scrap yards or recycling centers that take in computers.
Some of these places let you take what you like, others charge a small fee.You can get a lot of parts for rig in these places and if your really lucky 1 or 2 working GPU’s, the only item that might be hard to get is a powerful PSU, but if your only running 1 or 2 cards on a free rig, power wont be a problem.
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Thnx Kevlar for you time and for the great advice!!! I actually tried some mining already on my laptop(everything was hot like hell and it might be because it is a laptop ha ha) . I did it for the fun, not to make cash or earn some real cash, its just a fun thing. And i know 400 dollars is a big price to throw away when im a student. But aye, you only live once. But thanks for the reply!!!
But its getting clear for me that the race for mining bitcoin is getting harder and harder, so if i dont own a ascic card i might aswel dont do any mining at al?
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[quote name=“ramano15” post=“50333” timestamp=“1389048439”]
But its getting clear for me that the race for mining bitcoin is getting harder and harder, so if i dont own a ascic card i might aswel dont do any mining at al?
[/quote]Not necessarily. There’s plenty of times when mining makes sense.
One reason to mine is to help secure the network. If you’re holding, network security is an important factor. When the network is attacked, the price tends to dip. If the hash power was more distributed, such attacks would be unfeasible. Mining prevents such attacks, or at least makes the more expensive to pull off.
Another reason to mine is because your electricity is free, or insanely cheap. If that’s the case, this can definitely be cheaper than purchasing.
Another reason to mine is because you’re not able to acquire the coins another way, or you have spare hardware that could be put to better use. It’s entirely possible that even with all the factors I’ve described, mining can still be cheaper than purchasing at any given moment. Your mileage may vary, which is why I invite you to run the numbers and do the math.
Either way, I’m trying to set you up with solid advice. Believe me, I would love it if you just stuck all your money into mining and securing the network, but I think it’s more important we get dedicated people who understand what it is they’re getting into rather than hobbits who lose their investment, get burned, get frustrated, and make a bad name for crypto-currencies. Mining is a business, and if you’re going to invest in a business I’d rather you do it with both eyes open having done the math and knowing the risks, rather than just thinking that you’re going to get rich overnight (pro tip: you won’t).
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Like previous said the R9 270 are very good cards with decent price and hash rate.
Just buy the cheapest main board you can find (Asrock FM2AX88), cheapest cpu (AMD A4-4000), 2Gb RAM (Corsair Value Select) and a good PSU (Cooler Master B700) of 700W.
The mobo, ram and CPU can be bought new for just under €200,- euro !
The Sapphire R9 270 will cost you €165,=
Through in another €5,- for a decent 8GB USB pen drive (Sandisk Cruzer) and you’re all set.So you can have a brand new system for €370 and its even possible to expand later on upto 4 GPU’s. Just add extra GPU’s and 700W PSU (with PSU combiner) when finance allows :-)
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Thank you again Everyone for responding so quickly!!! And dont worry kevlar im not dreaming of being rich or what so ever. I actually dont have anything to lose for this rig. The electricity is free, (because i rent and the current is included in the rental price).I acutally wanted to experiment with this ‘building your own rig’. I always fancies computers and technology(im a little bit of a geek) I know this mining thing by now, i have tried it and its really fun. But i dont dream of making money or whatsoever. its Just a little hobby what teaches me more then i lose for. And i will do my best not to be one of those mindless hobbits trying to get rich in one night, because im still learning!
At prensel: THANKSSSS, was looking for this!!
Can anyone else top this?
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Another tip i might give you: don’t bother using Windooz for your rig.
Just start with Linux (BAMT or Xubuntu) while its much more fun to deal with and easy to learn.
If you’d like to learn how to trade with crypto coins go mining for a while on middlecoin or multi pool so you’ll end up with all sorts of pretty useless coins but it’s fun trading with them :-) -
If your interested, This is my rig build on a budget. It uses R9 270’s.
[url=http://forum.feathercoin.com/index.php/topic,6473.0.html]http://forum.feathercoin.com/index.php/topic,6473.0.html[/url]
It also has some good tweaks for your miner in there too.
I’m currently battling the second gpu I bought today. but a cheap 1 card system is what I achieved.
[i]update!
It’s alive![/i]
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Thanx for this Thread :) i ordered a R9 270. Can’t get a lot with my 560 GTX