GPU mining today, should I go or not?

arielbit

legendary

Activity: 3388

Merit: 1059

LOL at video card prices.

anyway I bought a nice car amplifier(upgrade to the older one), this thing cost around 400$ much better spending than another gpu in the farm.

12v from ax1500i (inside the PC-modified wire going out) to power this amplifier to a sub and stereo speakers, voila...those department store PC speaker system (however high end it is) is no match. night and day difference Grin

Bitbtc8

full member

Activity: 1148

Merit: 116

Quote from: DaveF on March 03, 2021, 08:21:53 PM

I would sell the cards. RX 580 4GB are going for over $200 and 8GB are over $300 with the power needs for mining and everything else it's going to take a lot of time to make that kind of money. They are older and less efficient so you are going to be behind the curve when mining.

Just my view. Don't know your exact situation, but as I said, I would sell.

-Dave

I don't believe this information, a RX580 8gb coats 450$ to 700$ right now, kindly show me where they are selling for 300$ per gpu, if that exists right now it would be out of stock in no time, you aren't going to see one at 300$ until bullrun is over

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Quote from: FireBallex on March 04, 2021, 01:55:25 PM

The chances that ethereum mining will remain profitable is very low as you said but what if? Those who buy cards in November 2020 are already at the end of their ROI already, anything is possible but the don't right now is buying those cards at high price

How do you know they sold or are selling their coins, maybe they are holding and imagine if this crashes fast and they even dont have the time to sell when eth is high? or maybe this things crashes and they think is going up again and it doesn't and then they see eth crashing to 100 usd again just like 2018?

FireBallex

member

Activity: 462

Merit: 19

Quote from: Metroid on March 04, 2021, 12:51:16 PM

Quote from: adaseb on March 04, 2021, 12:20:03 PM

Basically I had my RX 470 4GB since 2016. In 2018 I started to sell them and honestly nobody was buying them. Gamers basically only wanted an nvidia. I would make an ad on Craigslist and It would take maybe a month or two to sell for $75. Most of the time I got nothing but messages like “I know you mined with this GPU I will give you $25 cash , today”.

Now with the last of my RX 470 they all sold for like $150 or so. And not only that but they sold in like a day or two and there were no low ballers.

So just realize this that once the dust settles and you want to sell your RX 470 it will be worth maybe $50 and will take forever to sell. So maybe right now is the time to liquidate them.

You see that is the thing, they dont sell now because they think this profit will keep going, they think this --> "this time will be different" ehhe, once they realize this was not different than 2011, 2014 or 2018. Yeah this is the best time to liquidate them at good prices, i mean 3 to 4 x the price you will sell after this crashes to hehell, from 50 usd to 200 usd easy, I think rx 580 4gb gpus are giving 1 dollar per day, so in theory trolls think --> "why sell for 200 usd while i can mine 5 months and get that 200 usd and keep the gpu" ehhe

They really think this will keep going like this for another 5 months, I'm not saying it will not, I'm saying chances are low.

The chances that ethereum mining will remain profitable is very low as you said but what if? Those who buy cards in November 2020 are already at the end of their ROI already, anything is possible but the don't right now is buying those cards at high price

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Quote from: adaseb on March 04, 2021, 12:20:03 PM

Basically I had my RX 470 4GB since 2016. In 2018 I started to sell them and honestly nobody was buying them. Gamers basically only wanted an nvidia. I would make an ad on Craigslist and It would take maybe a month or two to sell for $75. Most of the time I got nothing but messages like “I know you mined with this GPU I will give you $25 cash , today”.

Now with the last of my RX 470 they all sold for like $150 or so. And not only that but they sold in like a day or two and there were no low ballers.

So just realize this that once the dust settles and you want to sell your RX 470 it will be worth maybe $50 and will take forever to sell. So maybe right now is the time to liquidate them.

You see that is the thing, they dont sell now because they think this profit will keep going, they think this --> "this time will be different" ehhe, once they realize this was not different than 2011, 2014 or 2018. Yeah this is the best time to liquidate them at good prices, i mean 3 to 4 x the price you will sell after this crashes to hehell, from 50 usd to 200 usd easy, I think rx 580 4gb gpus are giving 1 dollar per day, so in theory trolls think --> "why sell for 200 usd while i can mine 5 months and get that 200 usd and keep the gpu" ehhe

They really think this will keep going like this for another 5 months, I'm not saying it will not, I'm saying chances are low.

adaseb

legendary

Activity: 3738

Merit: 1708

Basically I had my RX 470 4GB since 2016. In 2018 I started to sell them and honestly nobody was buying them. Gamers basically only wanted an nvidia. I would make an ad on Craigslist and It would take maybe a month or two to sell for $75. Most of the time I got nothing but messages like “I know you mined with this GPU I will give you $25 cash , today”.

Now with the last of my RX 470 they all sold for like $150 or so. And not only that but they sold in like a day or two and there were no low ballers.

So just realize this that once the dust settles and you want to sell your RX 470 it will be worth maybe $50 and will take forever to sell. So maybe right now is the time to liquidate them.

FP91G

legendary

Activity: 1610

Merit: 1026

Quote from: SweetMochi24 on March 03, 2021, 06:39:03 PM

Hello! Quick question! I used to have a small GPU-based farm and am now thinking about jumping back into mining again. I already sold most of them, but I still have 5 rx 580, should I go for it again? I'm using Nicehash btw.

If you are experienced in mining, then why ask such strange questions?
Miners buy expensive laptops to mine cryptocurrencies because there are no graphics cards in stores.
4 or 8 GB of Px580 graphics cards are now making a good profit.
I would not recommend buying new ones, but if you do not want to mine yourself, then your video cards can be very profitably sold now.

Williamm07

member

Activity: 181

Merit: 14

$CYBERCASH METAVERSE

Quote from: SweetMochi24 on March 03, 2021, 06:39:03 PM

Hello! Quick question! I used to have a small GPU-based farm and am now thinking about jumping back into mining again. I already sold most of them, but I still have 5 rx 580, should I go for it again? I'm using Nicehash btw.

Used to? Why shut the miners down when ethereum mining have become so profitable since DeFi projects become a big thing in crypto space? You've missed some high quality opportunities mate, anyways if the 5x rx580 are the 8gb version then start mining right now I don't think this mining thing will become profitable in few more weeks

Ceyflix-Rez

member

Activity: 420

Merit: 13

$CYBERCASH METAVERSE

Quote from: SweetMochi24 on March 03, 2021, 06:39:03 PM

Hello! Quick question! I used to have a small GPU-based farm and am now thinking about jumping back into mining again. I already sold most of them, but I still have 5 rx 580, should I go for it again? I'm using Nicehash btw.

It means you already have those cards before the bullrun? That means you buy them cheaper I guess so why wait around when you can make good money out of the cards once again? You don't have to be told mate, fire them up and make some money

DaveF

legendary

Activity: 3458

Merit: 6231

Crypto Swap Exchange

I would sell the cards. RX 580 4GB are going for over $200 and 8GB are over $300 with the power needs for mining and everything else it's going to take a lot of time to make that kind of money. They are older and less efficient so you are going to be behind the curve when mining.

Just my view. Don't know your exact situation, but as I said, I would sell.

-Dave

rdluffy

legendary

Activity: 2226

Merit: 1304

If you already have the cards, like you said 5 RX 580, put them to work, why not?

Check if it's profitable first, and let them run on Nicehash, if you have 4Gb cards, you can't mine ETH, but there are another profitable coins, if it's 8Gb cards, you're good to mine ETH

You should started some months ago, but there's some time to mine yet

Another alternative is to sell your cards, the market is hot looking for cards

SweetMochi24

newbie

Activity: 72

Merit: 0

Hello! Quick question! I used to have a small GPU-based farm and am now thinking about jumping back into mining again. I already sold most of them, but I still have 5 rx 580, should I go for it again? I'm using Nicehash btw.

Topic: GPU mining today, should I go or not? (Read 197 times)