Newegg Mining Kits

[Doomer]

Pardon my ignorance but what is mining?

Thanks

 

[ronbo613]

This is like Levi Strauss selling blue jeans to gold miners and we all know who wound up making the fortune...

 

[mfenn]

This is like Levi Strauss selling blue jeans to gold miners and we all know who wound up making the fortune...

:thumbsup::thumbsup:

 

[Torn Mind]

Pardon my ignorance but what is mining?

Thanks

You use a hardware that does calculations, such as the graphics card, CPU, or ASICs(application-specific integrated circuit) to solve some cryptography problem and you get virtual currency in return. Bitcoin is such a currency and retailers are starting to accept payments with it.

 

[KentState]

They have a disclaimer at the bottom.

Please note: To use more than 2 graphics cards on the motherboard, additional accessories and setup, such as PCI-E riser cables, etc., will be needed

Not sure what accessories would allow you to use more than 2 cards, but they did throw that in there.

 

[nwo]

Not sure what accessories would allow you to use more than 2 cards, but they did throw that in there.

They are probably referring to PCI-e 1x to 16x risers.

 

[JackMDS]

Pardon my ignorance but what is mining?

Thanks

According to many. The modern Computer version of the old Ponzi scheme.




😎

 

[Torn Mind]

According to many. The modern Computer version of the old Ponzi scheme.




😎

Ponzi schemes are guaranteed to fail for the investor. In addition, the "top dog" human promoting such an investment strategy interacts with the investors. There is no top dog making promises of huge returns if you going to start mining, unless you are seriously thinking you can sue that 7970 in a rig for causing you ills, or do old-fashioned exchange rate speculation. The money you lose will be from the product losing value because it isn't new anymore, your electricity bills, and the market forces on the exchange rates.

Mining is essentially giving minting power to the power who do it, and the attempt to profit via exchange rates is something done before, with George Soros being on of the most recognized figures in that department.

 

[B-Riz]

This mining craze has been a punch in the gut for the people who wanted to get a nice custom R9 290 for primarily gaming at ~$400...

 

[lagokc]

This mining craze has been a punch in the gut for the people who wanted to get a nice custom R9 290 for primarily gaming at ~$400...

Eh on the other hand a R9 280X is $419 and generates .2286 Litecoins per day which after electricity ends up being $4.36 which effectively means you get a free R9 280X after 96 days. I mean if you can't beat 'em join...

Er no no I mean I hate those miners!:whiste: