I have had good experience with this processor: http://pcpartpicker.com/part/intel-cpu-bx80633i74820k I also tend to gravitate towards the AMD Radeon graphics cards, not only for mining cryptocurrencies.
The i7 is good, but it's a bit over the top. If you were to get intel, the i5 would do you fine. And if you're not careful, you'll easily end up spending over $1000 on an i7...
That processor is a good pick for very heavy users, but like mba said, an i5 will do him fine. An i5 K version should suit him well. While the processor you linked is great, it comes with the downside that LGA2011 motherboards tend to be quite expensive for a quality board, sometimes $100-$150 more.
Heres what I got so far: CPU: AMD FX-4350 Vishera Quad-Core 4.2Ghz 8MB Cache AM3+ Motherboard: ASUS M5A78-LX Plus Memory: 8 GB Hard drive: 500GB 7200RPM 32MB Cache SATA3 6Gbps I did this customization here: http://www.ecollegepc.com/amd-athlon-phenom.html This came out at $499. If you would like to show me an alternative that would be great too.
I'm almost positive your budget is way too small for what you want. If you're really stuck on those specs you're out on about 1200$ or like some said maybe 800$ on sale.
hmmm i put together what i wanted for a pc at http://www.ecollegepc.com/amd-athlon-phenom.html it came out $5018
Case : http://www.ebuyer.com/390900-casecom-kk-9949-case-kk-9949 £27 Power Supply : http://www.ebuyer.com/255694-cit-600w-power-supply-gold-12cm-fan-2x-sata-psucit600ugold £21 Heres a nice case, and a pretty cheap power supply to go with it, ebuyer is the best place to find anything
I fond this article online: http://toptengamer.hubpages.com/hub/Best-Under-600-Gaming-PC-Desktop-Computer-Build So I should go with an i5 K processor?
http://www.pcpartpicker.com/p/2sNuq Here's a build I threw together real quick, feel free to modify anything you want, the price came out to (about) $480. It has everything you'll need except for an Operating System, Keyboard, Mouse, Speakers, and a monitor(s) which i assumed you already have.