$2300 for ethereum mining. | Bitcointalksearch.org

klintistwood

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Quote from: zarados on October 23, 2017, 06:45:30 AM

so the rate of electricity usage is also affected by the type of coin we mine. well, that makes sense, since every coin has different difficulty to mine. But the thing is now, I just want to buy the GPU that available in my local country, so I don't need the cost of shipping from abroad and tax payment at the excise, which can increase the amount of capital needed. And the RX 480 I think is the right choice.

Yes indeed, XMR and ZEC use less power than ETH.
As for ordering you are right, in what country are you located?

zarados

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Quote from: klintistwood on October 22, 2017, 10:45:08 AM

Quote from: zarados on October 22, 2017, 09:00:36 AM

Quote from: klintistwood on October 21, 2017, 09:20:48 AM

Zarados: with the cards I mentioned in my initial post I can reduce power to 75W, the whole rig is below 900w. AMD cards can produce more hashrate but they are more expensive and use more power.

well, power requirement under 900w is one of value added. because in my place of residence, there is a tax authorized by the power company for residents or businesses using above 900w. with low power requirements I think we can also reduce costs and enlarge profit.

The configuration I gave you in the beginning of this thread goes below 900W for everything together (GPU, motherboards, SSD, ...). If you mine ZEC, it will even go lower (below 800).

so the rate of electricity usage is also affected by the type of coin we mine. well, that makes sense, since every coin has different difficulty to mine. But the thing is now, I just want to buy the GPU that available in my local country, so I don't need the cost of shipping from abroad and tax payment at the excise, which can increase the amount of capital needed. And the RX 480 I think is the right choice.

klintistwood

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Quote from: zarados on October 22, 2017, 09:00:36 AM

Quote from: klintistwood on October 21, 2017, 09:20:48 AM

Zarados: with the cards I mentioned in my initial post I can reduce power to 75W, the whole rig is below 900w. AMD cards can produce more hashrate but they are more expensive and use more power.

well, power requirement under 900w is one of value added. because in my place of residence, there is a tax authorized by the power company for residents or businesses using above 900w. with low power requirements I think we can also reduce costs and enlarge profit.

The configuration I gave you in the beginning of this thread goes below 900W for everything together (GPU, motherboards, SSD, ...). If you mine ZEC, it will even go lower (below 800).

Basmic

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I have the ability to mine coins without paying for electricity. I tried it and it seems to me that GPU can't give enough profit. I've tried AMD and after I got my money back sold my rack. Price is constantly decreasing. If you pay for electricity then I do not understand why this is necessary.

zarados

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Quote from: klintistwood on October 21, 2017, 09:20:48 AM

Zarados: with the cards I mentioned in my initial post I can reduce power to 75W, the whole rig is below 900w. AMD cards can produce more hashrate but they are more expensive and use more power.

well, power requirement under 900w is one of value added. because in my place of residence, there is a tax authorized by the power company for residents or businesses using above 900w. with low power requirements I think we can also reduce costs and enlarge profit.

klintistwood

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Out of the box is where I live

it's always a bit of a gamble and it all depends if you're looking at the long run or not. If you want short term results, you should speculate on current value, buy/sell whenever you feel like it's appropriate. You can earn much more like this but BTC and ETH are very volatile, you can earn a lot or lose a lot too. With mining, you won't be break even before a couple of months (if not more) but you won't lose money. Of course there is the hardware you buy but it's never going to be of no value.

bouldou

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Hi, let me give you an advice

To be honest with you, with the actual mining difficulty and the PoS coming in one year, I honestly don't advise you to invest into a rig now : I think it's too late

Trust me, making a rig work properly takes a HUGE time at the beginning, and if your rig don't work properly, you will lose some money

If I were you I would invest my money in Bitcoin or Altcoins, and wait for it to increase

klintistwood

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Out of the box is where I live

Zarados: with the cards I mentioned in my initial post I can reduce power to 75W, the whole rig is below 900w. AMD cards can produce more hashrate but they are more expensive and use more power.

zarados

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Quote from: Aureliusy on October 21, 2017, 08:26:21 AM

There are many other coins that you can mine with a GPU. Nvidia cards tend to be more silent . Use Less W and can mine more different coins with a good hashrate. Currently Mining Vertcoin (Lyra2rev2) Zencash (equihash) and Solaris (Xevan).
If you are more into the flavour of the day use whattomine or coingecko.

Good luck with mining!

So you're recomend to use nvdia cards than other gpus card? Well, I have no problem with the GPUs noise, but if it's use less W than other GPUs, I should considering this specification. And about a coin that I will mine, I would prefer the coin that available on my local exchange, so its not difficult to cash out my coin.

Kronos21

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Quote from: solarion on October 21, 2017, 03:12:16 AM

Quote from: zarados on October 19, 2017, 08:35:57 AM

I would like to do a GPU mining and I have a capital of about $ 2300. But I need a recommendations from experienced people to choose a better device for mining ethereum. My choice is in Shapire RX 480 for GPU, what do you think, please tell me your opinion.

Yes this investment amount you are having is enough to start mining. Components such as processor, RAM, 6 GTX 1060i cards, risers, PCI, Power supply and rig. These all will cost your around around 2k USD. You can mine the electrum or Monero with this specification.
You will be able to get the 400 USD in a month. If you run it in domestic or residential location. If you go to commercial location means then profit will damage because of electricity cost.

Where did the amount of 400 dollars? I have RX 580. They are more powerful and they produce 58-68 dollars a week. It is not $ 400 a month. I gave the statistics does not include the price of electricity. Then the yield will be even lower. I recommend OP to try to run the job only one GPU and see how much it will bring income. To listen to the advice incorrectly. In this case, remember that the profitability of production is constantly decreasing.

Pennywis3

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Did you consider buying Vega 56 cards?
They are doing about 1.800 h/s XMR, way more profitable than mining ETH with RX cards.
In a week we should be seeing AIB Vega models, just for consideration.

and B4 power usage: its not that bad once you downvolt them...

Aureliusy

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There are many other coins that you can mine with a GPU. Nvidia cards tend to be more silent . Use Less W and can mine more different coins with a good hashrate. Currently Mining Vertcoin (Lyra2rev2) Zencash (equihash) and Solaris (Xevan).
If you are more into the flavour of the day use whattomine or coingecko.

Good luck with mining!

zarados

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Quote from: solarion on October 21, 2017, 03:12:16 AM

Quote from: zarados on October 19, 2017, 08:35:57 AM

I would like to do a GPU mining and I have a capital of about $ 2300. But I need a recommendations from experienced people to choose a better device for mining ethereum. My choice is in Shapire RX 480 for GPU, what do you think, please tell me your opinion.

Yes this investment amount you are having is enough to start mining. Components such as processor, RAM, 6 GTX 1060i cards, risers, PCI, Power supply and rig. These all will cost your around around 2k USD. You can mine the electrum or Monero with this specification.
You will be able to get the 400 USD in a month. If you run it in domestic or residential location. If you go to commercial location means then profit will damage because of electricity cost.

well, don't you think $400/ month was too high? Or thats normal for mining electrum or monero with those rig specification. I could get my ROI just within 5-6 month. If I would mine crypto currency other than bitcoin or ethereum, I thought I will go for Zcoin. And about the domestic or commercial location, was it give a different electricity cost? I just calculate a normal cost.

solarion

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Quote from: zarados on October 19, 2017, 08:35:57 AM

I would like to do a GPU mining and I have a capital of about $ 2300. But I need a recommendations from experienced people to choose a better device for mining ethereum. My choice is in Shapire RX 480 for GPU, what do you think, please tell me your opinion.

Yes this investment amount you are having is enough to start mining. Components such as processor, RAM, 6 GTX 1060i cards, risers, PCI, Power supply and rig. These all will cost your around around 2k USD. You can mine the electrum or Monero with this specification.
You will be able to get the 400 USD in a month. If you run it in domestic or residential location. If you go to commercial location means then profit will damage because of electricity cost.

klintistwood

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Out of the box is where I live

you're still one year away from POS so yes you can still make money with ETH

je@ngrey83

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But is it worth investing in eth mining today considering that it will be pos soon??

Cereberus

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Quote from: zarados on October 19, 2017, 08:35:57 AM

I would like to do a GPU mining and I have a capital of about $ 2300. But I need a recommendations from experienced people to choose a better device for mining ethereum. My choice is in Shapire RX 480 for GPU, what do you think, please tell me your opinion.

Depending on where you are located I have found out lately that at Ebay you can buy a rig with 6 RX 480 at the price you have to invest. In many countries I have learned that people have invest a lot of money thinking that difficulty would stay the same so they are all selling their rigs under normal price right now at 2200 Euro for a rig with 6 RX 580 which is much better than RX 480 at mining.

You can find those rigs on big marketplaces online.

preda

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Quote from: zarados on October 19, 2017, 08:35:57 AM

I would like to do a GPU mining and I have a capital of about $ 2300. But I need a recommendations from experienced people to choose a better device for mining ethereum. My choice is in Shapire RX 480 for GPU, what do you think, please tell me your opinion.

if you need i am selling

https://bitcointalksearch.org/topic/m.22088480

for whathever info contact me Wink

klintistwood

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Out of the box is where I live

zarados: it was for practical reasons. I could get my hands on a cheap server psu with only pcie cables, if you want to find a normal psu with the same power you're usually above 200$ for a single psu

abvhiael: indeed but at the time I bought my GTX 1060 there were no 480 on the market. Are they back now?

abvhiael

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i personally prefer Radeon Rx 480 GPU25.0 MH/s GPU though it is a long term investement (Payback period
257 days) yet it cheaper to buy only 199 USD.

Topic: $2300 for ethereum mining. (Read 1526 times)