Author Topic: Looking for advice  (Read 678 times)

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Offline timc1981

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Looking for advice
« on: January 17, 2014, 07:31:10 AM »
I've got a pretty wimpy rig right now - just a laptop really - get maybe 16khash/sec :(

I'm trying to decide if it makes sense to buy mining contracts, buy dogecoins directly, or just splurge and get a better rig.

I feel like, to get a decent machine, it will cost at least $1500, and could run double, triple, or more than that.  At the same time, I'm seeing sellers on ebay selling doges for between 1000 doges for $.50 to $1.00.  Mining contracts appear to be maybe 800KHash/s for 24 hours for maybe $15-$25.

Is buying a machine really the most profitable thing to do?
To the moon!


Offline otrkid70

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Re: Looking for advice
« Reply #1 on: January 17, 2014, 07:34:37 AM »
I think buying hardware to mine is the best way. Buying dogecoins for cash you may lose $$ if the market drops.  Buying a mining contract is a gamble because you may or may not receive enough coins to match what you paid for the contract.

If you buy hardware it's a 1 time investment and your doges just grow and eventualy the hardware pays for itself.  just my opinion.

Offline DidiMidi

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Re: Looking for advice
« Reply #2 on: January 17, 2014, 10:30:53 AM »
You have to decide quick, ATM DOGE mining is still profitable, but difficulty keeps increasing so you get less DOGEs per kH/s.  And February the 14h is the expected date when profit will halve (50% DOGEs mined).

If i were you i'd set up a humble rig. I've done so for 250€ (who needs a case anyway), a dirt cheap Athlon x2 240e, a dirt cheap mATX motherboard and a reasonably powerful R9 270 (415 kH/s, stock speed. No overclock. Such crash. Not compensate.).

In a nutshell, Cryptocurrencies are here to stay it seems, so if you want to enter the arena get a cheap (or expensive if you're really serious) mining rig and mine DOGEs until it's profitable. Then move to the next best thing (new coin) and trade it for more DOGEs.

Either way, stick to DOGEs. To the moon!!

EDIT: As a reference, the 250€ i invested on HW should pay for itself in 3 or 4 months. :D
« Last Edit: January 17, 2014, 10:36:03 AM by DidiMidi »


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