I use the Alonne great bow w/Ring of Blades +2/red tear stone ring. I can kill the king giant with it easily inside of 5 minutes.
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I just killed him today. I killed him in 20-30 ish casts. Which is less time I'm sure. Main reason I went Mage is because got a bit tired of spending souls for arrows (ironically learn that resonant spells cost souls too -,-)
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Takes me about 40 arrows to down him. It costs me about 50,000 for 250 destructive great arrows, which if you've farmed that spot you know that 50k takes no time to get. The destructive arrows that Vengarl sells are the hardest hitting in the game. I think.
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Never tried that bow due to it appearing like the dragon slayer bow in the first one with those arrows. Too long to draw and damn expensive
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It hits like a hammer though. And the thing is I hit 270 with it with zero stamina, which doesn't sound like a lot, but you have to take into account that that's bonfire +7. So you need no stamina to use it, and it hits hard. It's really only useful for that spot though, I have nashandras bow and the dragonriders bow for everything else
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I should add that it's a super effective farming spot. 500,000 souls every 5-10 minutes basically foolproof w/unlimited bonfire ascetics