Im torn between buying a GTX 1080 or multiple 1050
Is there any Pros and Cons on having multiple but slower miner?
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The money in mining is really from the increasing value of the coin you have mined. You may make mre mony just just investing in coin rather than the rig and mining but where's the fun in that. So lets get mining.
You will want to spend the least on your rig and your electric as possible. You will want to mine a coin with the most profit AND most potential. Here is what my friend and I have discovered.
Ethereum mining got exciting when the price went up. I don't think it was ever spectacular to mine. The problem is that it needs a NEW graphics card since these have 4GB of RAM or more. This causes a problem since the miners cleaned out all the best ones and all the new GPUs doubled in price.
What we found was in terms of HASH rate a HD5870 for £25 is the same as a RX560 for £160 except you are limited to NeoScrypt on the HD5870.
We found that the HD5870 was making about the same money on PhoenixCoin as an RX560 would make on Ethereum but a lot shorter return on investment.
We started simply by fitting an HD5870 into our existing PCs but we wanted more. So we got hold of the crappiest scrappiest old PCs and fitted the £5 PCIe extenders and bigger PSUs to support more cards. We hit ebay and bought every cheap HD5870 going.
We found we can use an extra PSU to drive an extra GPU with a paperclip between the green pin and the black pin to make it come on.
Your motherboard wants as many PCIe sockets as you can get. The Crossfire ones are good as they take two cards. The little PCIe x1 sockets will mine perfectly well too as long as you use the PCIe extender to fit the GPU.
No need to have a decent CPU. We're using a Celeron and an Athlon 64 with 2GB RAM and a hard drive big enough to hold a wallet and Windows 7 64 bit. Then using the NSGminer neoscrypt on PXC, PhoenixCoin. Using The Blocks Factory mining pool.
We've now got some ugly noisy mining rigs that are making us about a £1 a day and using who knows how much electric, we don't care. Calculations suggest that as difficulty rises the coins first mined will rise in value to say £100 per day. OK so we will always only ever mine £1 per day with these rigs but effectively we're mining £100 per day.
Clearly we're insane to think that would happen but then look at the insane price rises that have already happened. Mining is all down to the price rises, otherwise it's nothing.
You ain't gonna know if you don't do it and if you only dabble in it as I did in 2013 and then see "what you coulda won" then you'll kick yourself. Do get your wallet sorted and make a 'paper' backup. I came back to my BitCoin wallet that had £20 in it from Christmas to find it was £100!
So even if this is just a bubble you learn something and keep the house warm this winter. Have fun.