Topic: Bad time to buy mining rigs? (Read 2972 times)
The profit has grown significantly recently and I think that will continue to grow
If we consider the cost of electricity in many countries, it is best now not make new rigs. But in some countries, there are low-cost electricity. If you have free electricity, it changes everything.
I'd say anything below 0,10$/kW is still worth it.
You can always build 4-5 GPU rigs with cheaper PSU's and eventualy mine monero for low power usage.
Anyway, i'm still buying GPU's, i think there will always be something to mine, even in a few months when ETH ends and ZEC dissapears into oblivion
There will always be something to mine.
Besides my RX series, I'm still runing R9's and 79x0 series on ZEC, they don't bring much profit, but still are far from over.
The difficulty that would drop onto everything else after ETH turns PoS and ZEC gets flushed would do more than double the hash rate for everything else. You can't look at the current profitability of XMR or any coin.
If your R9 and 79x0 cards are little profit now, they likely wont be profitable to run soon.
not true, i think there would be a massive sell off of many mining rig, if the diff triple on everything there will be no more profit for everyone, only peanuts for those that have lower than 5 cent electricity
If the ETH goes to PoS, then the difficulty for other coins will rise. That is the reason I am not expanding.
ETH is planned to go PoS
ZEC is just a glorified pump and dump coin. The hike back in value is a blessing for me to get more earnings prior to the BTC ETF but besides that it is a coin waiting to die
It will be grim in due time if 2 of the 3 biggest mining coins go down
I completely disagree with this.
ZEC is a rebate/commercial supported by
INTEL
AMD
NVIDIA
ASUS
ASROCK
BIOSTAR
EVGA
GIGABYTE
MSI
SAPPHIRE
POWERCOLOR
CORSAIR
SEASONIC
ANTEC
GEIL
MUSHKIN
AND MANY OTHER COMPANIES
simple economics any of the companies above simply buy some coin to prop up its price.
this encourages miners to buy gear.
why is ZEC the best coin for this at the moment?
market cap is small so it is easy to support the price.
it is a win-win for them at the moment, the 1080 ti is still fresh and Vega release date is near, miners are enticed to buy the newer and faster or older and cheaper (older models are reducing prices).
12 months ago, people were asking the same question! "Is it too late to start mining ETH?"
And the answer I saw most of the time is "YES, ITS TOO LATE"
In July2011 when BTC rose from $1.00 to $31.00, I saw people asking "Is it too late to buy BTC?" and 95% of the answers was "YES, UR LATE TO THE PARTY"
Let me tell you one thing.. It's never too late!
Good luck.
And the answer I saw most of the time is "YES, ITS TOO LATE"
In July2011 when BTC rose from $1.00 to $31.00, I saw people asking "Is it too late to buy BTC?" and 95% of the answers was "YES, UR LATE TO THE PARTY"
Let me tell you one thing.. It's never too late!
Good luck.
We can never predict the future but we can learn from the past.
ETH profit is finally back, after months of stagnant price and a rising difficulty. There is no telling how crazy Eth can get, but it is certainly making splashes.
With bitcoin we had asic and that gave the hashing power to the corporations. With ethereum it is planned to go POS one day which will give rewards to the share holders.
I personally don't see the big farms very willing to suddenly give up 80% of their profits over night for POS. That is where the difficulty bomb comes in, and the dag file. Even still it is hard to imagine many investors would want to mess with a system that is working.
If we consider the cost of electricity in many countries, it is best now not make new rigs. But in some countries, there are low-cost electricity. If you have free electricity, it changes everything.
I'd say anything below 0,10$/kW is still worth it.
You can always build 4-5 GPU rigs with cheaper PSU's and eventualy mine monero for low power usage.
Anyway, i'm still buying GPU's, i think there will always be something to mine, even in a few months when ETH ends and ZEC dissapears into oblivion
There will always be something to mine.
Besides my RX series, I'm still runing R9's and 79x0 series on ZEC, they don't bring much profit, but still are far from over.
The difficulty that would drop onto everything else after ETH turns PoS and ZEC gets flushed would do more than double the hash rate for everything else. You can't look at the current profitability of XMR or any coin.
If your R9 and 79x0 cards are little profit now, they likely wont be profitable to run soon.
not true, i think there would be a massive sell off of many mining rig, if the diff triple on everything there will be no more profit for everyone, only peanuts for those that have lower than 5 cent electricity
If the ETH goes to PoS, then the difficulty for other coins will rise. That is the reason I am not expanding.
ETH is planned to go PoS
ZEC is just a glorified pump and dump coin. The hike back in value is a blessing for me to get more earnings prior to the BTC ETF but besides that it is a coin waiting to die
It will be grim in due time if 2 of the 3 biggest mining coins go down
I completely disagree with this.
ZEC is a rebate/commercial supported by
INTEL
AMD
NVIDIA
ASUS
ASROCK
BIOSTAR
EVGA
GIGABYTE
MSI
SAPPHIRE
POWERCOLOR
CORSAIR
SEASONIC
ANTEC
GEIL
MUSHKIN
AND MANY OTHER COMPANIES
simple economics any of the companies above simply buy some coin to prop up its price.
this encourages miners to buy gear.
why is ZEC the best coin for this at the moment?
market cap is small so it is easy to support the price.
Eth go to POS not very soon, also do not forget about ETC and other coins which maybe launch soon.
The block time or reward is supposed to scale down profits on ETH and the net hash will flood ETC to dust. ETC needs something to seriously shoot its price to the moon to absorb that net hash. Newly launching coins are often short lived mining profits
DCR may be rising but the coin can have ASIC made for it and will happen when it gets big enough so DCR will not be the mining savior
XZC will hardfork to a new algo that is CPU mining so that will not save the GPU mining scene
You are banking on an ETC miracle, or a miracle mining coin to hold out. Maybe XMR moons and that will keep everything afloat. Best hope that Poloniex adds ZCL to pump that up a bit prior to the Zencash fork leading to a nice big fat Zencash price tag to save the day
That is right. If ETH goes to PoS, the hash rate from the ETH to ETC will make it not so profitable.
12 months ago, people were asking the same question! "Is it too late to start mining ETH?"
And the answer I saw most of the time is "YES, ITS TOO LATE"
In July2011 when BTC rose from $1.00 to $31.00, I saw people asking "Is it too late to buy BTC?" and 95% of the answers was "YES, UR LATE TO THE PARTY"
Let me tell you one thing.. It's never too late!
Good luck.
And the answer I saw most of the time is "YES, ITS TOO LATE"
In July2011 when BTC rose from $1.00 to $31.00, I saw people asking "Is it too late to buy BTC?" and 95% of the answers was "YES, UR LATE TO THE PARTY"
Let me tell you one thing.. It's never too late!
Good luck.
Eth go to POS not very soon, also do not forget about ETC and other coins which maybe launch soon.
The block time or reward is supposed to scale down profits on ETH and the net hash will flood ETC to dust. ETC needs something to seriously shoot its price to the moon to absorb that net hash. Newly launching coins are often short lived mining profits
DCR may be rising but the coin can have ASIC made for it and will happen when it gets big enough so DCR will not be the mining savior
XZC will hardfork to a new algo that is CPU mining so that will not save the GPU mining scene
You are banking on an ETC miracle, or a miracle mining coin to hold out. Maybe XMR moons and that will keep everything afloat. Best hope that Poloniex adds ZCL to pump that up a bit prior to the Zencash fork leading to a nice big fat Zencash price tag to save the day
Yeah dont buy rigs please but coins ! So my mining profits will increase.
Eth go to POS not very soon, also do not forget about ETC and other coins which maybe launch soon.
If we consider the cost of electricity in many countries, it is best now not make new rigs. But in some countries, there are low-cost electricity. If you have free electricity, it changes everything.
I'd say anything below 0,10$/kW is still worth it.
You can always build 4-5 GPU rigs with cheaper PSU's and eventualy mine monero for low power usage.
Anyway, i'm still buying GPU's, i think there will always be something to mine, even in a few months when ETH ends and ZEC dissapears into oblivion
There will always be something to mine.
Besides my RX series, I'm still runing R9's and 79x0 series on ZEC, they don't bring much profit, but still are far from over.
The difficulty that would drop onto everything else after ETH turns PoS and ZEC gets flushed would do more than double the hash rate for everything else. You can't look at the current profitability of XMR or any coin.
If your R9 and 79x0 cards are little profit now, they likely wont be profitable to run soon.
not true, i think there would be a massive sell off of many mining rig, if the diff triple on everything there will be no more profit for everyone, only peanuts for those that have lower than 5 cent electricity
If the ETH goes to PoS, then the difficulty for other coins will rise. That is the reason I am not expanding.
ETH is planned to go PoS
ZEC is just a glorified pump and dump coin. The hike back in value is a blessing for me to get more earnings prior to the BTC ETF but besides that it is a coin waiting to die
It will be grim in due time if 2 of the 3 biggest mining coins go down
If we consider the cost of electricity in many countries, it is best now not make new rigs. But in some countries, there are low-cost electricity. If you have free electricity, it changes everything.
I'd say anything below 0,10$/kW is still worth it.
You can always build 4-5 GPU rigs with cheaper PSU's and eventualy mine monero for low power usage.
Anyway, i'm still buying GPU's, i think there will always be something to mine, even in a few months when ETH ends and ZEC dissapears into oblivion
There will always be something to mine.
Besides my RX series, I'm still runing R9's and 79x0 series on ZEC, they don't bring much profit, but still are far from over.
The difficulty that would drop onto everything else after ETH turns PoS and ZEC gets flushed would do more than double the hash rate for everything else. You can't look at the current profitability of XMR or any coin.
If your R9 and 79x0 cards are little profit now, they likely wont be profitable to run soon.
not true, i think there would be a massive sell off of many mining rig, if the diff triple on everything there will be no more profit for everyone, only peanuts for those that have lower than 5 cent electricity
If the ETH goes to PoS, then the difficulty for other coins will rise. That is the reason I am not expanding.
If we consider the cost of electricity in many countries, it is best now not make new rigs. But in some countries, there are low-cost electricity. If you have free electricity, it changes everything.
I'd say anything below 0,10$/kW is still worth it.
You can always build 4-5 GPU rigs with cheaper PSU's and eventualy mine monero for low power usage.
Anyway, i'm still buying GPU's, i think there will always be something to mine, even in a few months when ETH ends and ZEC dissapears into oblivion
There will always be something to mine.
Besides my RX series, I'm still runing R9's and 79x0 series on ZEC, they don't bring much profit, but still are far from over.
The difficulty that would drop onto everything else after ETH turns PoS and ZEC gets flushed would do more than double the hash rate for everything else. You can't look at the current profitability of XMR or any coin.
If your R9 and 79x0 cards are little profit now, they likely wont be profitable to run soon.
not true, i think there would be a massive sell off of many mining rig, if the diff triple on everything there will be no more profit for everyone, only peanuts for those that have lower than 5 cent electricity
The difficulty that would drop onto everything else after ETH turns PoS and ZEC gets flushed would do more than double the hash rate for everything else. You can't look at the current profitability of XMR or any coin.
If your R9 and 79x0 cards are little profit now, they likely wont be profitable to run soon.
If your R9 and 79x0 cards are little profit now, they likely wont be profitable to run soon.
That Sir is very true.
We can hope that in the future we will get more coins to mine and the difficulty will spread amongst those so we can all enjoy a little profit.
But ofcourse there are no guarantees in mining, people still remember the time when BTC went to ASIC's and GPU farms almost ceased to exsist.
Well, let's hope for the best
BTW, when do you guys think ETH will turn PoS? When can we expect it will turn non-profitable?
I was thinking. Looks like a great time to buy GPU's
ETH shot up and people are profiting again. ZEC pumped. But thing is ZEC will dump again and ETH block time will progressively get longer till it is not worth mining and enters POS with a rather large amount of miners jumping to everything else.
I could be wrong but this looks like an amazing time to stock up but I see that as a big trap right now especially with summer coming when the ETH mining decreases and temperature management becomes a larger concern with potential AC cost
No one will answer your question , all you will have here is personal views no one know the future , what you need to do is put your own risk factor and always have a backup plan if things got shity , so if you think you can handle your own risk factor and the amount of money you can loss then do it without asking it's a win loss buisness like any other. ETH shot up and people are profiting again. ZEC pumped. But thing is ZEC will dump again and ETH block time will progressively get longer till it is not worth mining and enters POS with a rather large amount of miners jumping to everything else.
I could be wrong but this looks like an amazing time to stock up but I see that as a big trap right now especially with summer coming when the ETH mining decreases and temperature management becomes a larger concern with potential AC cost
Personally, I just built a new rig (my 3rd) based on 6x MSI 470s for about that same $1400 that the OP mentioned. Many good points have been made in this thread about the eventual move to POS for ETH, but there is still some time to make money on ETH mining it... as well as if you can accumulate some for profit after said move. Furthermore, even if ZEC tanks around that same time (Im not a big fan of ZEC but its death is certainly far from a sure thing), there is indeed still XMR but also probably a decent chance of another few coins coming into decent profitability range for mining. To me, it seems like a LOT of bad things would all have to line up to making mining mostly not profitable before the end of 2017. Sure, it could happen, but just seems against the odds to me. And... even if the sky falls, there is indeed the option to sell off GPUs to gamers and minimize losses.
I was thinking. Looks like a great time to buy GPU's
Prices have been falling on the RX 470 and 480 due to mfr rebates. AMD redesigned them as the more powerful 500 series, but I've heard that the expected power draw is higher. Look for current card prices to drop around the launch of the new cards.
you only get one rebate per houshold , you buy 5 cards of the same brand they will only honor the rebate on one card , been there done that read the fine print i dont even look at the rebate price anymore
I was thinking. Looks like a great time to buy GPU's
Prices have been falling on the RX 470 and 480 due to mfr rebates. AMD redesigned them as the more powerful 500 series, but I've heard that the expected power draw is higher. Look for current card prices to drop around the launch of the new cards.
I was playing around on NewEgg too thinking about buying a new rig, I can put together a 6x GPU based on RX470's that would yield ~168 MH/s on ETH. But when crunching the numbers I would spend close to $1400 in hardware to net about a buck a GPU, or $6/day on this rig after electricity. Even with free electric and the recent high trading rates you would only earn at $8/day. Also, you can be sure even if prices stay high the hashrate will soon catch-up to lower profitability soon enough.
Now I also trade a lot of my mining proceeds and with the recent volatility I can easily make $5-10 per trade with fairly low risk. So instead of putting that $1,400 in a rig, I could put in on an exchange and even keeping my risk to the recommend 1% of this account value, would let me risk up to $14 per trade. So using a 50 lot order of ETH as an example, I could bet a long at say $17 and if it goes south more than 28 cents I would stop out. Well with 50 lot orders I can easily pick up 10 cents per trade, which is a $5 profit , and $10 or even occasional $20 profits are also doable.
Point is it is fairly easy to put that $1400 to work and make the same income trading as with mining, with the potential of earning much more. Just one 50 lot trade that moves 12 cents will pick up the same earnings as a days worth of mining.
I know some people like the passive income side mining offers, as I do too, but I bought most of my miners when you could earn $20-$30/day per rig. At only $5-$10 per day it is a big investment for little gain, not counting the ~200 day ROI's. Anyway, I decided against adding anymore rigs and I am enjoying the easy picks on trading while it lasts.
Now I also trade a lot of my mining proceeds and with the recent volatility I can easily make $5-10 per trade with fairly low risk. So instead of putting that $1,400 in a rig, I could put in on an exchange and even keeping my risk to the recommend 1% of this account value, would let me risk up to $14 per trade. So using a 50 lot order of ETH as an example, I could bet a long at say $17 and if it goes south more than 28 cents I would stop out. Well with 50 lot orders I can easily pick up 10 cents per trade, which is a $5 profit , and $10 or even occasional $20 profits are also doable.
Point is it is fairly easy to put that $1400 to work and make the same income trading as with mining, with the potential of earning much more. Just one 50 lot trade that moves 12 cents will pick up the same earnings as a days worth of mining.
I know some people like the passive income side mining offers, as I do too, but I bought most of my miners when you could earn $20-$30/day per rig. At only $5-$10 per day it is a big investment for little gain, not counting the ~200 day ROI's. Anyway, I decided against adding anymore rigs and I am enjoying the easy picks on trading while it lasts.
If I can ask you, where are you trading at?
Kraken, Poloniex, and GDAX mainly. I like GDAX for the no fees for makers, so it is a bit easier to make your spreads, but they are a bit lower volume than like Poloniex. I tend to trade all three to spread my "exchange" risk out, but for the quick trades I posted about before GDAX seems easiest (again no fees). The other two exchanges work better for the longer trend trades, like with the recent run-up to $21.
Hi,
So guys which graphic card you would suggest: 470 or 480 at the moment?
I am at the point of buying 6 of them and start, but really cannot decide.
Anyone with strong opinion for which one to choose?
Thanks!
So guys which graphic card you would suggest: 470 or 480 at the moment?
I am at the point of buying 6 of them and start, but really cannot decide.
Anyone with strong opinion for which one to choose?
Thanks!
little difference in performance on the 480...470 probably roi's faster.
Well everyones' points are very right but there are some more to add !
Running a Rig is a Passive thing, so once you set it up right, you have an income coming in without much worry.
Yes holding the same amount of coins in BTC or Dash or ETH might turn out to give an even better profit..but who knows..it might or might not be same maybe in 1 years time.
Also, when you mine you actually burn electricity and convert your money into a crypto currency, so you do end up with coins as investment but not as the same rate as direct investment. So after a period of time you have coins + your GPUS to sell off and get some more profit.
To decrease the risk factor you could target older parts or go for part that resell well, like 1070 etc.
Running a Rig is a Passive thing, so once you set it up right, you have an income coming in without much worry.
Yes holding the same amount of coins in BTC or Dash or ETH might turn out to give an even better profit..but who knows..it might or might not be same maybe in 1 years time.
Also, when you mine you actually burn electricity and convert your money into a crypto currency, so you do end up with coins as investment but not as the same rate as direct investment. So after a period of time you have coins + your GPUS to sell off and get some more profit.
To decrease the risk factor you could target older parts or go for part that resell well, like 1070 etc.
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