OP I salute your grit.
I think OP's goal was to get more ETH with his current ETH stash, since he did not sell his existing ETH but used them as collateral for the loan to get equipment to mine more ETH.
He would've been successful if crypto prices stayed the same, OR prices dropped. But this bull run has wrecked his plan. He will not get mucho ETH; he will get less ETH than he expected.
He may still come out ahead, albeit with a longer ROI window, so long as he can mine enough $$ to repay his loan to get back his ETH.
Not a bad play OP. Very creative. But who would've though a big bull market would come NOW.
Topic: I Bought 150+ GPUs for Ethereum mining. Think I'm Insane? - page 3. (Read 2711 times)
And there is that thing to resell the crap of it if you dont want to mine anymore, reselling old hardware is hard and not worth these days, sometimes is even better to throw away in the garbage. It saves a lot of time.
https://etherscan.io/chart/difficulty
You would be surprised but computer equipment actually sells pretty well. I've sold most of mine on Craiglists at asking price and if that didn't work there was also eBay as an option.
GPUs like the RX 470/570 are not considered old. A R9 280X is considered old but I had no trouble selling them in the last 12 months. Yes they are power hogs and ancient but AMD still makes drivers for them and they are great for Crossfire.
So in a couple years or so, the RX 470 will still be worth something. Never worth it throwing away in the garbage. Throwing away in the garbage is maybe worth it if the GPU is damaged and not worth the time to repair it.
^Hell no, I'd rather buy the coin.
now the market is on the rise, I think it is advisable to buy or video cards or miners. prices for miners have increased, but for video cards yet.
This is what newbs fail to calculate. If the ROI interval shortens that means the coin is making good profits and even people with marginal electric rates will now jump in. That happens and the difficulty will go up. So while the fiat return may be the same or perhaps even better, the eth return is typically worse. The only time you can beat ETH returns with a rapidly rising coin is when you have a monopoly on specialized mining equipment. In this case granny is turning on her old PC to mine ETH and difficulty is shooting up.
It's hindsight, but better move would have been to buy ETH with the money spent on the 150 cards. OP will never make as much as he could have bought. NEVER. But if he/she has fun mining then who's to stop them. Just know it would have been better to buy than mine. This is true will all established coins in almost every scenario. Buying also affords you option to quickly exit the market should you decide you've had enough profit or loss - opportunity cost.
It's hindsight, but better move would have been to buy ETH with the money spent on the 150 cards. OP will never make as much as he could have bought. NEVER. But if he/she has fun mining then who's to stop them. Just know it would have been better to buy than mine. This is true will all established coins in almost every scenario. Buying also affords you option to quickly exit the market should you decide you've had enough profit or loss - opportunity cost.
Very good point and to add to that, I guess the op is having too much work, rigs crashing, fans need to be replaced, gpus dying, other issues that need to spend a lot of money on and also the fact that it might even burn the house down if no precautions were thought up.
As ETH price rises difficulty rises, I mean, before all this rise eth was around 1721, right now is at 2168 and people are holding out for new amd cards I take. So only the eth he mined prior to the rise will be worth more if he did not sell it. Bullmarket is pointless to mine cause the coin rises more than is worth mining by ten to 50 times, bearmarket is pointless because you could buy the coin far cheaper than mining it, so in the end mining is just a wasteful workload. Now if you have 1 to 5 gpus as a hobby then is fine. You are not going to lose your time and time is the most valuable thing in life.
And there is that thing to resell the crap of it if you dont want to mine anymore, reselling old hardware is hard and not worth these days, sometimes is even better to throw away in the garbage. It saves a lot of time.
https://etherscan.io/chart/difficulty
2 observations here, pay attention to them.
This thread was created on June 12, 2019, today is June 26, 2019, so 14 days. Now, on June 12, eth was 242 usd, 14 days after that eth is 360 usd, so in 14 days eth had an increase of 118 usd which corresponds to almost 50% of 242 usd, so when I say buy eth is better than mine, you trolls must pay attention.
His post stated that he would roi in 6 months, so 50% is 3 months, pay attention that his earnings also increased too as eth values more but still a bit around 5 months and some days to roi.
Anyway, this is a very interesting observation.
This thread was created on June 12, 2019, today is June 26, 2019, so 14 days. Now, on June 12, eth was 242 usd, 14 days after that eth is 360 usd, so in 14 days eth had an increase of 118 usd which corresponds to almost 50% of 242 usd, so when I say buy eth is better than mine, you trolls must pay attention.
His post stated that he would roi in 6 months, so 50% is 3 months, pay attention that his earnings also increased too as eth values more but still a bit around 5 months and some days to roi.
Anyway, this is a very interesting observation.
This is what newbs fail to calculate. If the ROI interval shortens that means the coin is making good profits and even people with marginal electric rates will now jump in. That happens and the difficulty will go up. So while the fiat return may be the same or perhaps even better, the eth return is typically worse. The only time you can beat ETH returns with a rapidly rising coin is when you have a monopoly on specialized mining equipment. In this case granny is turning on her old PC to mine ETH and difficulty is shooting up.
It's hindsight, but better move would have been to buy ETH with the money spent on the 150 cards. OP will never make as much as he could have bought. NEVER. But if he/she has fun mining then who's to stop them. Just know it would have been better to buy than mine. This is true will all established coins in almost every scenario. Buying also affords you option to quickly exit the market should you decide you've had enough profit or loss - opportunity cost.
2 observations here, pay attention to them.
This thread was created on June 12, 2019, today is June 26, 2019, so 14 days. Now, on June 12, eth was 242 usd, 14 days after that eth is 360 usd, so in 14 days eth had an increase of 118 usd which corresponds to almost 50% of 242 usd, so when I say buy eth is better than mine, you trolls must pay attention.
His post stated that he would roi in 6 months, so 50% is 3 months, pay attention that his earnings also increased too as eth values more but still a bit around 5 months and some days to roi.
Anyway, this is a very interesting observation.
This thread was created on June 12, 2019, today is June 26, 2019, so 14 days. Now, on June 12, eth was 242 usd, 14 days after that eth is 360 usd, so in 14 days eth had an increase of 118 usd which corresponds to almost 50% of 242 usd, so when I say buy eth is better than mine, you trolls must pay attention.
His post stated that he would roi in 6 months, so 50% is 3 months, pay attention that his earnings also increased too as eth values more but still a bit around 5 months and some days to roi.
Anyway, this is a very interesting observation.
Since eth price is higher he will roi on dollars faster but in eth amount will take longer to Roi if at all. High price equals higher difficulty thus slower to mine and missed opportunity to sell his eth higher to buy 50 percent more gear. if he just held his eth he would have been better off I'm afraid.
Now he's stuck trying to get his 150 gpus running correctly, wasting his time bios modding and trying to figure things out on soon to be outdated gear.
Word of advice. Value your time, the best play is to do nothing and hodl your coins You don't need to feel productive by mining and spending money on gear as this exposes you to missed opportunity from a huge rally and lead to less crypto coins.
His only saving Grace is that he was smart enough to take a loan on his crypto as collateral instead of selling and liquidating his eth.
Things did not go as he planned so any mining newbs about to get started mining need to remember and learn from this experience.
When you decide to mine you are saying I'm hedging into depreciating assets and I will pay taxes on any earned income. Maybe I get lucky mining new shitcoins or maybe I will just get rekt mining coins like every miner did in 2018. Hehe
bump for update
Been getting it up and running, currently at 3.5Gh/s. ill update OP with some pictures! Having a ton of BSODs and crashes so it's taking longer than I would of hoped. Without Claymore STRAP feature working correctly(He is working with me on this issue) I have to painfully BIOs mod and flash each memory type then adjust for Memory clocks. It's real pain. Some BIOs mods are better than others etc.
2 observations here, pay attention to them.
This thread was created on June 12, 2019, today is June 26, 2019, so 14 days. Now, on June 12, eth was 242 usd, 14 days after that eth is 360 usd, so in 14 days eth had an increase of 118 usd which corresponds to almost 50% of 242 usd, so when I say buy eth is better than mine, you trolls must pay attention.
His post stated that he would roi in 6 months, so 50% is 3 months, pay attention that his earnings also increased too as eth values more but still a bit around 5 months and some days to roi.
Anyway, this is a very interesting observation.
This thread was created on June 12, 2019, today is June 26, 2019, so 14 days. Now, on June 12, eth was 242 usd, 14 days after that eth is 360 usd, so in 14 days eth had an increase of 118 usd which corresponds to almost 50% of 242 usd, so when I say buy eth is better than mine, you trolls must pay attention.
His post stated that he would roi in 6 months, so 50% is 3 months, pay attention that his earnings also increased too as eth values more but still a bit around 5 months and some days to roi.
Anyway, this is a very interesting observation.
Also, on that same note that my ROI time has now decreased for these GPUs. Really wish I could have gotten them early March/April. Now I'm in a frantic race to get these up and running to acquire ETH during this bullrun. Wasn't really part of my plan
2 observations here, pay attention to them.
This thread was created on June 12, 2019, today is June 26, 2019, so 14 days. Now, on June 12, eth was 242 usd, 14 days after that eth is 360 usd, so in 14 days eth had an increase of 118 usd which corresponds to almost 50% of 242 usd, so when I say buy eth is better than mine, you trolls must pay attention.
His post stated that he would roi in 6 months, so 50% is 3 months, pay attention that his earnings also increased too as eth values more but still a bit around 5 months and some days to roi.
Anyway, this is a very interesting observation.
This thread was created on June 12, 2019, today is June 26, 2019, so 14 days. Now, on June 12, eth was 242 usd, 14 days after that eth is 360 usd, so in 14 days eth had an increase of 118 usd which corresponds to almost 50% of 242 usd, so when I say buy eth is better than mine, you trolls must pay attention.
His post stated that he would roi in 6 months, so 50% is 3 months, pay attention that his earnings also increased too as eth values more but still a bit around 5 months and some days to roi.
Anyway, this is a very interesting observation.
bump for update
When ETH goes POS, miners will just switch to other algos. C29 algo is quite popular with Beam and Grin, right? And both of them have been quite profitable as of late.
I actually did the same thing a few weeks ago. Still had all the components for two rigs here - only thing missing were the GPUs. Now I bought 16 more RX470 for around $50-$55 each. But I have free electricity (included in rent), so I am pretty sure I will ROI within a few months.
Be careful how big you go. 16+ gpus won't go unnoticed on the power bill and your LandLord will notice that. Might even increase your rent
I actually did the same thing a few weeks ago. Still had all the components for two rigs here - only thing missing were the GPUs. Now I bought 16 more RX470 for around $50-$55 each. But I have free electricity (included in rent), so I am pretty sure I will ROI within a few months.
I think people are offloading their ethereum mining gear before they go pos. Mining gear will flood the market around that time so you'll have trouble selling them afterwards
Pos = death for eth.
Do I think op was smart. No as he has 10 cent power.
But if he pulls it off good for him.
Thanks. Still hoping to pull it off lol! When Ethereum goes PoS that will be the BIG question considering how many GPUs are mining it. Are those farms going to shut-down? how much GPU-mining power is going to mirgrate. This is things I'm thinking of. But we don't know till it happens. So I'll keep my farm running until then and play a 'wait and see'
Maybe you should try to specify the value for each GPU
eg: 3x GPU used parameter -strap 1@2100,2@2000,3@1900
it means 1st GPU used strap #1 with a memory clock 2100 Mhz, 2nd GPU used strap #2 with MC 2000 Mhz and 3rd GPU used strap #3 with MC 1900 MHz. You can play with strap index and memory clock values for getting the best hashrate and maybe avoid crashes. The higher strap index (strap 1) supports higher MC than strap index 2 (You can learn it from readme.txt in your claymore folder)
eg: 3x GPU used parameter -strap 1@2100,2@2000,3@1900
it means 1st GPU used strap #1 with a memory clock 2100 Mhz, 2nd GPU used strap #2 with MC 2000 Mhz and 3rd GPU used strap #3 with MC 1900 MHz. You can play with strap index and memory clock values for getting the best hashrate and maybe avoid crashes. The higher strap index (strap 1) supports higher MC than strap index 2 (You can learn it from readme.txt in your claymore folder)
Yeah, I've tried everything in the Readme, what happens is as soon as reads the memory type "Applying best Straps for POLE4"(for example) and once it hits the 2nd GPU GPU 0, GPU 1, then bam Computer crashes with a black-screen and reboots itself. This happens when the 6th GPU(or more) is added. 5 GPUs work normally. So far still at a loss of what causes it. ill take a video and post it later today.
I think people are offloading their ethereum mining gear before they go pos. Mining gear will flood the market around that time so you'll have trouble selling them afterwards
Pos = death for eth.
Do I think op was smart. No as he has 10 cent power.
But if he pulls it off good for him.
Maybe you should try to specify the value for each GPU
eg: 3x GPU used parameter -strap 1@2100,2@2000,3@1900
it means 1st GPU used strap #1 with a memory clock 2100 Mhz, 2nd GPU used strap #2 with MC 2000 Mhz and 3rd GPU used strap #3 with MC 1900 MHz. You can play with strap index and memory clock values for getting the best hashrate and maybe avoid crashes. The higher strap index (strap 1) supports higher MC than strap index 2 (You can learn it from readme.txt in your claymore folder)
eg: 3x GPU used parameter -strap 1@2100,2@2000,3@1900
it means 1st GPU used strap #1 with a memory clock 2100 Mhz, 2nd GPU used strap #2 with MC 2000 Mhz and 3rd GPU used strap #3 with MC 1900 MHz. You can play with strap index and memory clock values for getting the best hashrate and maybe avoid crashes. The higher strap index (strap 1) supports higher MC than strap index 2 (You can learn it from readme.txt in your claymore folder)
How have you set up your motherboard's bios? Are you using PCIe Gen1/2/Auto?
The motherboard is setup like so: PCI-E GEN 2 all, Use onboard IGP, POWER-ON, Security settings Disabled,What AMD driver are you using? Make sure you do anything but install Wattman, that piece of crap has nothing to do on your system.
AMD 19.5.1 also tried 19.6.1. Correct I only installed AMD Driver, I don't use Wattman. I use Claymore's miner to overclock the GPUs.How many AMD cards per mobo? How good/old are your risers? How strong is your PSU?
13x GPU per motherboard, this is done for Density and space purposes. I've ran 13x MSI RX580's 8GBs previously without any issues. Risers are risers? I've previously used them before in my mining setup which ran for a year +. I run a PSU/Server combo. EVGA 450w PSU to run the motherboard/SSDs etc and a Delta 2400w PSU that runs all the GPUs.I'm not saying I'm having issues there, everything mines fine using BIOs mod. Just fine tuning on what memory speeds/voltage to get them from crashing takes a little time since I've never had 4GB cards before. I just noticed in my testing(using 1 GPU) that Claymore's straps are far more effective than any BIOs mod for Elpida/Hynix 4GB's. When I BIOs modded one I noticed tons of memory errors around 2000mem clock, using claymore's STRAP feature better hashrate and same clock, but no memory errors. Obviously got me excited.
How have you set up your motherboard's bios? Are you using PCIe Gen1/2/Auto?
What AMD driver are you using? Make sure you do anything but install Wattman, that piece of crap has nothing to do on your system.
How many AMD cards per mobo? How good/old are your risers? How strong is your PSU?
What AMD driver are you using? Make sure you do anything but install Wattman, that piece of crap has nothing to do on your system.
How many AMD cards per mobo? How good/old are your risers? How strong is your PSU?
Well, I've played around a lot. Trying to get Claymore STRAPs to work with multiple cards
So I used whatever stock BIOs were on the cards that were shipped. It crashed.
Then I tried stock BIOs from Techpowerup. No difference still crashed.
Right now I'm running modified BIOs using PBE and RXBOOST just to get the rigs running.
I can get up to 5 GPUs working with STRAPs. Soon as I add the 6th and launch claymore with STRAP, bam hard crash right at the "Detecting best straps", and windows reboots. it doesn't matter the 6th GPU either I went one by one and it does the same thing every time. I can get -STRAPs to work if I enable it for only GPU 0 out of 13 then it works normally. If I then apply it to GPU 0,1 same thing. Crashes at "detecting best straps"
After work today I plan on testing some more trying various configurations. It seems to be a Claymore, Windows, AMD Driver problem, unfortunately, I just don't know.
As of right now I have 4 13x ELPIDA RX470's BIOs modded, setup, and running...or crashing. I hate BIOs mod, I'm on fairly conservative settings yet 2 are crashing. 1950mem/1125 900/900 clocks. I used the BIOs mod from here,
https://1stminingrig.com/sapphire-rx-470-nitro-oc-4gb-bios-flash-mod-tutorial-hynix-elpida-samsung-micron/
I noticed 2 rig's won't Hash right with that BIOs from FirstMiningRig they get 24/26~ so that may be on what you're talking about different BIOs sizes. So I used different BIOs for those 2.
Current Hashrate
https://ethermine.org/miners/531E893595875098c10994dF91edF6D886aF6B63/dashboard
So I used whatever stock BIOs were on the cards that were shipped. It crashed.
Then I tried stock BIOs from Techpowerup. No difference still crashed.
Right now I'm running modified BIOs using PBE and RXBOOST just to get the rigs running.
I can get up to 5 GPUs working with STRAPs. Soon as I add the 6th and launch claymore with STRAP, bam hard crash right at the "Detecting best straps", and windows reboots. it doesn't matter the 6th GPU either I went one by one and it does the same thing every time. I can get -STRAPs to work if I enable it for only GPU 0 out of 13 then it works normally. If I then apply it to GPU 0,1 same thing. Crashes at "detecting best straps"
After work today I plan on testing some more trying various configurations. It seems to be a Claymore, Windows, AMD Driver problem, unfortunately, I just don't know.
As of right now I have 4 13x ELPIDA RX470's BIOs modded, setup, and running...or crashing. I hate BIOs mod, I'm on fairly conservative settings yet 2 are crashing. 1950mem/1125 900/900 clocks. I used the BIOs mod from here,
https://1stminingrig.com/sapphire-rx-470-nitro-oc-4gb-bios-flash-mod-tutorial-hynix-elpida-samsung-micron/
I noticed 2 rig's won't Hash right with that BIOs from FirstMiningRig they get 24/26~ so that may be on what you're talking about different BIOs sizes. So I used different BIOs for those 2.
Current Hashrate
https://ethermine.org/miners/531E893595875098c10994dF91edF6D886aF6B63/dashboard
mining on windows is nothing but headache and way too much work, with the number of riggs you are dealing with is a full time job and than some. the down time alone will eat up your profit quickly if i were you i would look into some linux distros like ethos smos.
i am a hobby miner IT guy myself and been testing mmpOS and i really like it it's been super stable for my AMD cards
Best of luck!
about your power cost, is it 10 cents or 1 cent?
most power companies in US charge extra premium after 1000KW or so, is yours a fixed amount?
It's a fixed amount but PA is weird They charge a 'supplier rate' and 'Distribution rate' So while my Supplier rate is .04599c/Kw hr the distribution is what it costs to get that power to my house. So my total is .10C/kw. There is no Seasonal rate or anything.i am a hobby miner IT guy myself and been testing mmpOS and i really like it it's been super stable for my AMD cards
Best of luck!
about your power cost, is it 10 cents or 1 cent?
most power companies in US charge extra premium after 1000KW or so, is yours a fixed amount?
Claymore straps are fine, 32 mh/s for my Micron babies with Claymore straps is the best I could ever get from them.
I wish all the luck to the topic starter, 10c per kWh doesn't sound attractive though
I wish all the luck to the topic starter, 10c per kWh doesn't sound attractive though
How many GPUs do you have per rig using Claymore straps? I can't get more than 5 to work. No idea why.
I am really sorry to disappoint you now, but I am running 12 AMD GPU rig almost with no problems. Uptime is around 6 days. Using Windows (as it's free and straps are working; once strap function is available in HiveOS I might switch to it).
My setup is a little different though; MOBO is Gigabyte's
upd: I re-checked your first post and haven't found anything about your MOBO lol. I had a feeling you use different one or mentioned it in some other post.. w/e
my piece of advice is to distinguish each GPU's bios and put GPUs with the same bios in the same rig.
This would help you to flash them much easier.
The motherboard I have is an Asrock H110 PRO BTC+
Of course, I've done this. Each rig is separated by memory type. Samsung/Hynix/Elpida. Strange that you don't have this issue. Wonder if it's something to do with the motherboard then?
Gosh I hate Asrock stuff
I don't question your flashing skills, but could you share what exactly have you done with AtiFlash?
I faced the problem that the bios of my GPUs was 256kb instead of needed 512kb in order to flash correctly.
So I believe I haven't flashed them at all, and just used Claymore in-built settings.
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