Hi,
I have never mined anything and I am very newbie but want to learn.
Can someone please let me know what kind of hardware i should buy to mine protoshares effectively? I am looking to spend around $700 -$800.
If someone could advise what kind of CPU, GPU, cool fan maybe and anything else I need to build a mining ring that would be great..
Many thanks in advance!
Okay, first my two pence on what you're trying to do:
Investing in local hardware is - in my opinion - really ill-advised. There is absolutely no guarantee you will make your money back and although it's true you could always use the rig built to mine another cryptocurrency, you are going to be spending months and months earning that $700-$800 back. Not to mention power costs factor into local mining.. If you're making less than it costs to run your rig, then is it worth it (at all)? Cryptocurrencies are very finicky and protoshares are a very young currency - that comes with all kinds of caveats you should look into.. I would really advise you to do your research on cryptocurrencies and how they can rise and fall and have more of an idea about your investment before you spunk $800 on a rig for it. In truth, it sounds like a silly idea - sorry
My opinion, totally my own doing this on a budget.. I'd spend that $800 on cloud mining personally. The overhead is much smaller. Electric costs!
But to answer your question, the general rule of thumb is to go for as many cores as possible with as much GHz and cache as you can. I local mine with an Intel Core 2 Quad Q8300. I didn't pay for it - so already I'm getting profit - but I'm netting around 60col/min with that (70col/min on a good day). In comparison, I have a Pentium G860 (mid-range i3 equivalent) that nets around 50col/min. The newer i-series of chips (i7 etc) have an extra instruction set called AVX - these perform very very well with mining and if you were to build a rig, I'd suggest one of these. However, for a budget rig an Athlon II X6 would not go amiss - those cores will definitely make a difference.