Topic: Bad time to buy mining rigs? - page 2. (Read 2972 times)

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.

IMO it is not bad time to buy mining rigs but if you are building your own rig, ensure that you select correct components. I've had unlucky moments with my PSU. It worked fine 24 hours than big bang happened I think my circuit is not good enough to handle more than 800 watts through my PSU. I have Evga 1200 and replacing it now.

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!

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.

If I can ask you, where are you trading at?

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.

it's the same, because those cash can go in bitcoin instead

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.

Well that is assuming you purchase the hardware with BTC rather than cash

1+
Absolutely right

the problem is that if btc go very high you will lose on the investment, let's say btc skyrocket to 2k after you bought your rig, you would have payed less by waiting

but it is unknown and a gamble as usual, i'm building another rig, because it's only about resale value for me, if everything sink i can easily sell for 80% my 1070, there is a huge demand for them from gamers

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