Mainly going to be used for mining, got another 2 x R9 280's on the way but had to order from somewhere else as they only told me about them being out of stock after it had shipped

LBC_zpsb21cf9db.jpg

 

Im confused about the 4 GPU's and two power supplies?

 

In what respect?

 

Well the Asus M5 only has 2 PCI-e slots....or am I missing something?

 

Take it your mining litecoins? Should of gone with a lower wattage cpu and single psu, you using risers to run these cards, also did you get the 280s in stock??? , my miner is using 2 7950s and 2 7970s I have a friend who runs a few of these rigs and has just setup a 280 rig and he said powerdraw and heat consumption is horrendous over the 7950s but there mining well at 24/7, if you want any tips give me a shout!!

 

Cheers

The lad I'm doing it with is running the 7970's already and is pretty clued up to it all so should go pretty smoothly, he's more or less built the rig from his experience / knowledge so fingers crossed.

Will be using risers yes, I ordered 4 of the XFX cards but it only came with two as they are out of stock now, so have had to order 2 x MSI ones from scan should be here tomorrow, The PSU's were the choice just down to a combination of cost, stock, efficently etc

We will be doing abit of litecoins yes, but he's also involved in other coins at the moment which are doing really well so will be abit of variation.

How are you doing from it?

 

Can you explain this mining???

 

Yeh it's going well mining at around 2400khs I'm my garage at my mums mono is latterly just hanging no case with a fan blowing on her will get some pics at some point, gettin about 5 coins a week at current difficulty the days when it was 5 coins a day on this setup were good but the price wasn't as high as it is now, these rigs really do make some heat you could easily heat a large room with a 4 card setup. I have been into crypto for a while I bought in with bit coins at Ł3 a piece and sold at Ł30 if I had held onto now I would be a very rich man

 

Using gpus (graphics cards) to solve complex hashing algorithms the end result is a virtual coin that can be exchanged for currency in simple terms.
Bit coin was the first to become mainstream and is now worth between $700 - $1300 a coin

 

 

Is there a noddy guide to read about this to get my understanding of it? I'm quite interested in this.

 

So does that mean you have a spare copy of BF 4?

 

I had two spare copies, but some guys off the other forum were quicker sorry

 

Haha no worries

 

 

Getting just under 3200KH/s with the new setup

 

Danneth I kinda get the jist after a bit of reading about this but how actually do u turn it back into Ł

How much has your setup cost ?? How many a day do I rekkon your gonna get?

 

It cost Ł1300 total, it's as simple as mining the coins they go into your wallet you then sell them on forums/ebay/in person etc

Here you can find the calculator enter the hash rate and it will show you what you would earn coinwise - http://www.litecoinminingcalculator....72027285&fee=0

you then have the convertor of the coins - http://litecoinexchangerate.org/c/USD/3

Don't forget the above is based on litecoins only, there is more value in doing newer coins as well.

 

So from my calcs there your roughly with 32k gonna make Ł200 a day?
Seems descent that! You got anymore easy guides to learn a bit more?

 

you have added a 0

 

How many cards you running to get 3200khs? I bet shes keeping your house nice and warm haha, just sold 50 litecoins for christmas

 

It's got 4 x R9 280X in it at the moment, it's not home yet, still at my mates who is building it and setting it up he says it's pretty toasty

 

Oh yeh my fault, still 580 a month is still not to be sniffed at.

I'm deffo interested in this..

Do you fully understand the ins and outs or are you learning off your mate??

 

As I say that's only a rough calculator on LTC alone, the machine will do 1 LTC a day so 7 a week if you check ebay / forums people are willing to pay some silly money for them 10 here for Ł460 - http://www.ebay.co.uk/itm/10-LTC-Lit...item3f2d0e23b3

It's estimated the price will only raise so really need to try keep hold of some as well, but we are also mining some other lower difficulty coins and you just hope they might go the same way.

I "understand" it to a degree, I'm not that into the newer coins nor setting the actually machine us with the optimal settings etc there is quite abit to it, but it should come in time.

 

Its realitivly easy to set up, tbh the hardest part is getting the graphics cards without paying silly money as there alwayd out of stock, any amd gpu will dovalue for money wise the 7*** series are best but getting hold of them is getting hard, you have to counter powerdraw and cost of elec into the proffit aswell as these rigs pull the same wattage as a small space heater, the mining process is very st8 forward you join a pool which is a group of miners that mine in syndicate and you are paid in relation to your contributed hashing power, also the coin are very easy to sell the damand is very very high at the moment. The setup of the machine is quite easy might suffer some niggles at first most people use a gui miner which is easy on the eyes but the more proffit orinated miners use light linux distros to save on proccesing power and background task drawing from your profits, one thing I will tell you about crypto coins is once you install a wallet or start mining coins you become a target to the cyber relms every other fucker is trying to steal yout wallet or

 

What sort of load are the GPU's under during said minning process? or is this something you can set?

 

You can set it usualy would aim for 100% aslong as temps are safe

 

So how is the best way to protect from your wallet being ripped off??

I need to keep reading about this it's got me intrigued.. Fezzie what sort money u making then?
If I was to stump up the Ł1300 am I Deffo going to recover it??

I'm quite handy with a computer ie can build them etc so once I get my head round it (the software side) I think I could build a rig.

When say about the wattage what wattage we talking ?

 

Yeh im making around 150 a week give or take, I got into it quite early tho, whatever you pay for the hardware you will always get back as the demand os high so take that into account, difficulty also increases regualy and when it does your machine generates less coins as the get harder to mine you can combat this by using you earning to buy more hardware until it becomes un proffitable to mine litecoins then eiver sell your hard ware cashing in that way or start on the next coin, my pal has being building 2 new rigs a month and cashing in some proffit from what he makes you could always hold onto the coins anticipating a huge increase in price or just cash in weekly
Thinking about a second machine after christmas just to mine secondary coins incase they jump in price I also wouldnt mind playing some games haha

 

Safest way to access you wallet is on a virtual machine using a fresh install of a os of you choice fully patched do not use this vm for anything other than checking your wallet and sending funds also back this wallet up 2 times atleast and not on any cloud based storage as these have been comprimised a few times recently for wallets, also use a vpn whist mining to keep you identity abit more hidden check for dns leakages and keep talk about mining to a minimum or atleast use a alterego, also when buying with coins if it sounds to good to be true it probably is!!
A vm is a sand box in which you run a operating system, a vpn is a tunnel that routes yoir connection elsewhere! With encryption at each end

 

currently running 5 cards

 

this has got me interested, how much electricity are you guys using?
prices are always going up, no idea for sure what the rate s at current, got to be 12p/hr at least, so 2kw of power would be 24p/hr, just over Ł5 a day.
so say i get 2 coins a day at around Ł17 a pop, then there is Ł29 profit a day, so a 2k setup would pay for itself in 3 months, then you sell up and get a bigger rig, virtually paying for the upgrades and syphon off a percentage as you go along.
the key as far as i understand would be to balance power against productivity, ASIC would be the way to go, but cost would be higher although energy usage would be lower.

 

Not far off with your power figues a 4 card rig will drain 1200w, also the coins have gone up in value some, bitcoins at around $700-$1200 and litecoins around Ł30 bitcoins mining is all asics now there no money for gpu miners, litrcoins are know as skrypt coins and are asic safe for now so they can only be mined woth gpus altho there are fgpa miners being developed whist we speak! You will always recoop your investment when you cash in your hardware waste heat can be used to heat your house, theres also other methods to make money with gpus if the coin market drys up which it wont!! Also electricity is not a issue as my mums on a capped plan where she pays for so many units then the price drops, my friend who runs a few of these rigs is on a pay meter as is parinoid police are going to bust his door down thinking hes operating a canabis farm haha he will have fun explaining that one

 

I don't understand! We're r u mining!

How can u convert into real money?

 

Decentralised digital currencys, check out mtgox.com for prices its to complicated to explain check out this video for a basic explanation http://vimeo.com/m/63502573

 

That's mad !
Do u actualy earn on this !
Saves geting up for work!
Do u need to leave ur computer running 24/7 and do u have to be at the controls to mine or will it doing it without being there

 

Oh yeh theres money to be made I wouldnt quit aby job tho just a nice secondary income/hobby, you just leave them running 24/7 rarly do I have touch my rig I connect to it over the internet to check all is good, like anything tho stuff can go wrong your hardware can break being on full wack all the time, you can sell at the wrong time or you could save all your coins anticipating a rise and end up panic selling I recomend anyone with a desktop pc with spare pci port to stick a couple 7950 or 7970s in and make a few quid chances are when youve had enough you will get more money for thw gpu than you paid for it!!

 

Can I start with this by trying it on a old PC with just a shitty gpu?? Obviously I won't be making much if anything but I would like to just get my head round the setting up and running before I slap loads of money on a rig. What software and stuff do I need?

 

Yeh you can if you gpu is open cl or cuda compatible just download a skypt gui miner litecoin wallet and join a pool such as slush pool or coin tron read a guide and you should be cooking in a few hours, nothing interesting will happen you probably wont make anything substantial but it will give you a insite into mining

 

Yeh that's what I'm after, just wanna get my bearings with it, is the gpu the only significant part of the rig really? Is there a couple of cheap card u can recommend just to try it out?
Is there any other requirements for the PC to get it going?

Thanks for the help so far btw