Topic: Is is too late to invest in gpu considering prices atm? (Read 1174 times)
i would buy, but not amd which can do less hashrate now by 30%, i would buy nvidia, always have with you a rig to mine, it's never useless you can mine many coin and always have some profit, yes now it's a bad time but it's not something that we haven't seen already, it's the same cycle, pump and dump repeat itself, we will get another good pumop soon in autumn
Why buy rx 580 at $450 now while you can buy rx 580 for less than $100 in few weeks, but then again when rx 580 hits $100 then i dont think you will buy them cause the return of investment mining with it per day per card will be around $0.05 and your roi will be 1000 years hehe
Nobody can predict the future and much less predict which coin you should buy. While I would certainly not buy cards at the inflated prices they are now, a mining rig always has and will be a hedge versus buying coins directly. By investing directly in a coin you are taking a risk that the coin you invest in goes down in value and you are left holding the bag. A mining rig is an asset that has a value other than mining that can be sold or it be can be repurposed towards another coin. What history has shown is that those that look at mining as a long term investment and keep mining even when it was not profitable to do so are the ones that benefit the most e.g. LTC and ETH 6 months ago.
History has shown us if MOST people had spent the $600 dollars they would have spent buying a 7970 on buying Bitcoin directly they would have come out with more Bitcoin in the end (myself being one those and I was mining BTC in 2011).
There is no guarantee history will repeat itself from 2014. 10x as many people now know what crypto and blockchain tech is. GPU mining has proven that it not just a fad. Hindsight has also shown Bitcoin has periods of great boom and retraction, as does ETH. Even if you missed buying ETH at 0.8 cents where was everybody when it was under $10 in January of 2017. Litecoin was laughed at. Monero was looking like a PnD.
My gut tells me that all those people buying $600 1070s and $400 470s are going to call it quits once they're making less than 50 cents a day per card and they get sick of the heat and noise. Those using the cards for heating will push on. Those massive GPU farms in China have no intentions of quitting and will drive ETH difficulty well past 100 before end of August.
If you're casually mining to pay off part of your new gaming rig then go for it! You're helping to secure emerging networks and if you're selling for fiat each week you really can't lose much - but you're not really INVESTING.
INVESTORS don't care about the fiat price from day to day or even month to month. They care if their dev team is advancing the tech. If you're buying one of these new ETH ICOs which people are selling their cars and houses for then I have to question the sanity of the current market. Bloomberg calling Bitcoin a ponzi in 2011 was hack journalism. WSJ call ETH ICOs a craze that will end badly for some is probably insightful reporting.
You say if INVEST in a coin and the coin's value (in fiat) I assume goes down then you are left holding a BAG. haha, bagholders. Yeah well some of us BTC bagholders sold at $5 after Bitcoin recovered from $2. Again anything is duh stupid with hindsight. That's the thing though, there is RISK with investment.
Building a mining rig to mine with is hedging your investment. You're assuming that even if the coin you're mining goes to zero you still can sell your parts for at least 33 to 50% of their original value (unless you're buying a RX560 for $250).
The richest men/women in crypto did not become that way buy hedging. They went all in (some by scamming).
As an investor never invest more than you can afford to lose - this is sound advice since all of time and is still valid today (unless you like waking up with your kidney missing). If you feel more comfortable hedging by mining then that is a viable option. If you truly believe your blockchain technology will change the world then you don't care if ETH was $10 in January even if you bought it at the peak in March 2016 (well unless you switched to the ETC team).
TLDR - If your goal is to break even in fiat and risk little go ahead and mine with current inflated card, DDR4, PSU and Mobo prices. If your goal is to become a crypto overlord and retire at 40 then just buy the coins - but at least learn a little bit of basic trading strategy and learn how to at least secure your own private keys.
And if instead of mining BTC with that 7970 you had mined LTC when it launched in 2011 you would have thousands more today. To me the main adavantage a mining rig has over investing directly is YOU can decide what to mine and after it's paid off there is little additional risk other than your power cost. When the next big coin comes around, like ETH did after the scrypt and x11 crash of 2014, you will be ready.
Hehe, true, but LTC was tantamount to a scam when it was launched. Read all the posts about it and how disorganized it was. Next you'll tell me I should have mined Cosybcoin (google it, you'll get a laugh - oh man that hack made my day). I had my 6870s working on LTC so I'm good with Chuck.
Nobody can predict the future and much less predict which coin you should buy. While I would certainly not buy cards at the inflated prices they are now, a mining rig always has and will be a hedge versus buying coins directly. By investing directly in a coin you are taking a risk that the coin you invest in goes down in value and you are left holding the bag. A mining rig is an asset that has a value other than mining that can be sold or it be can be repurposed towards another coin. What history has shown is that those that look at mining as a long term investment and keep mining even when it was not profitable to do so are the ones that benefit the most e.g. LTC and ETH 6 months ago.
History has shown us if MOST people had spent the $600 dollars they would have spent buying a 7970 on buying Bitcoin directly they would have come out with more Bitcoin in the end (myself being one those and I was mining BTC in 2011).
There is no guarantee history will repeat itself from 2014. 10x as many people now know what crypto and blockchain tech is. GPU mining has proven that it not just a fad. Hindsight has also shown Bitcoin has periods of great boom and retraction, as does ETH. Even if you missed buying ETH at 0.8 cents where was everybody when it was under $10 in January of 2017. Litecoin was laughed at. Monero was looking like a PnD.
My gut tells me that all those people buying $600 1070s and $400 470s are going to call it quits once they're making less than 50 cents a day per card and they get sick of the heat and noise. Those using the cards for heating will push on. Those massive GPU farms in China have no intentions of quitting and will drive ETH difficulty well past 100 before end of August.
If you're casually mining to pay off part of your new gaming rig then go for it! You're helping to secure emerging networks and if you're selling for fiat each week you really can't lose much - but you're not really INVESTING.
INVESTORS don't care about the fiat price from day to day or even month to month. They care if their dev team is advancing the tech. If you're buying one of these new ETH ICOs which people are selling their cars and houses for then I have to question the sanity of the current market. Bloomberg calling Bitcoin a ponzi in 2011 was hack journalism. WSJ call ETH ICOs a craze that will end badly for some is probably insightful reporting.
You say if INVEST in a coin and the coin's value (in fiat) I assume goes down then you are left holding a BAG. haha, bagholders. Yeah well some of us BTC bagholders sold at $5 after Bitcoin recovered from $2. Again anything is duh stupid with hindsight. That's the thing though, there is RISK with investment.
Building a mining rig to mine with is hedging your investment. You're assuming that even if the coin you're mining goes to zero you still can sell your parts for at least 33 to 50% of their original value (unless you're buying a RX560 for $250).
The richest men/women in crypto did not become that way buy hedging. They went all in (some by scamming).
As an investor never invest more than you can afford to lose - this is sound advice since all of time and is still valid today (unless you like waking up with your kidney missing). If you feel more comfortable hedging by mining then that is a viable option. If you truly believe your blockchain technology will change the world then you don't care if ETH was $10 in January even if you bought it at the peak in March 2016 (well unless you switched to the ETC team).
TLDR - If your goal is to break even in fiat and risk little go ahead and mine with current inflated card, DDR4, PSU and Mobo prices. If your goal is to become a crypto overlord and retire at 40 then just buy the coins - but at least learn a little bit of basic trading strategy and learn how to at least secure your own private keys.
And if instead of mining BTC with that 7970 you had mined LTC when it launched in 2011 you would have thousands more today. To me the main adavantage a mining rig has over investing directly is YOU can decide what to mine and after it's paid off there is little additional risk other than your power cost. When the next big coin comes around, like ETH did after the scrypt and x11 crash of 2014, you will be ready.
Nobody can predict the future and much less predict which coin you should buy. While I would certainly not buy cards at the inflated prices they are now, a mining rig always has and will be a hedge versus buying coins directly. By investing directly in a coin you are taking a risk that the coin you invest in goes down in value and you are left holding the bag. A mining rig is an asset that has a value other than mining that can be sold or it be can be repurposed towards another coin. What history has shown is that those that look at mining as a long term investment and keep mining even when it was not profitable to do so are the ones that benefit the most e.g. LTC and ETH 6 months ago.
History has shown us if MOST people had spent the $600 dollars they would have spent buying a 7970 on buying Bitcoin directly they would have come out with more Bitcoin in the end (myself being one those and I was mining BTC in 2011).
There is no guarantee history will repeat itself from 2014. 10x as many people now know what crypto and blockchain tech is. GPU mining has proven that it not just a fad. Hindsight has also shown Bitcoin has periods of great boom and retraction, as does ETH. Even if you missed buying ETH at 0.8 cents where was everybody when it was under $10 in January of 2017. Litecoin was laughed at. Monero was looking like a PnD.
My gut tells me that all those people buying $600 1070s and $400 470s are going to call it quits once they're making less than 50 cents a day per card and they get sick of the heat and noise. Those using the cards for heating will push on. Those massive GPU farms in China have no intentions of quitting and will drive ETH difficulty well past 100 before end of August.
If you're casually mining to pay off part of your new gaming rig then go for it! You're helping to secure emerging networks and if you're selling for fiat each week you really can't lose much - but you're not really INVESTING.
INVESTORS don't care about the fiat price from day to day or even month to month. They care if their dev team is advancing the tech. If you're buying one of these new ETH ICOs which people are selling their cars and houses for then I have to question the sanity of the current market. Bloomberg calling Bitcoin a ponzi in 2011 was hack journalism. WSJ call ETH ICOs a craze that will end badly for some is probably insightful reporting.
You say if INVEST in a coin and the coin's value (in fiat) I assume goes down then you are left holding a BAG. haha, bagholders. Yeah well some of us BTC bagholders sold at $5 after Bitcoin recovered from $2. Again anything is duh stupid with hindsight. That's the thing though, there is RISK with investment.
Building a mining rig to mine with is hedging your investment. You're assuming that even if the coin you're mining goes to zero you still can sell your parts for at least 33 to 50% of their original value (unless you're buying a RX560 for $250).
The richest men/women in crypto did not become that way buy hedging. They went all in (some by scamming).
As an investor never invest more than you can afford to lose - this is sound advice since all of time and is still valid today (unless you like waking up with your kidney missing). If you feel more comfortable hedging by mining then that is a viable option. If you truly believe your blockchain technology will change the world then you don't care if ETH was $10 in January even if you bought it at the peak in March 2016 (well unless you switched to the ETC team).
TLDR - If your goal is to break even in fiat and risk little go ahead and mine with current inflated card, DDR4, PSU and Mobo prices. If your goal is to become a crypto overlord and retire at 40 then just buy the coins - but at least learn a little bit of basic trading strategy and learn how to at least secure your own private keys.
Its never too late™ If you can take risk, then do it. Market can skyrocket or crash in any moment
Nobody can predict the future and much less predict which coin you should buy. While I would certainly not buy cards at the inflated prices they are now, a mining rig always has and will be a hedge versus buying coins directly. By investing directly in a coin, you are taking a risk the coin you buy goes down in value and you are left holding the bag. A mining rig is an asset that has a value other than mining that can be sold or it be can be repurposed towards another coin. What history has shown is that those that look at mining as a long term investment and keep mining even when it was not profitable to do so are the ones that benefit the most e.g. LTC and ETH 6 months ago.
Totally agree with the previous comment. . difficulty rising and prices falling, this already saw him 3 years ago...
Same scenario, you can take a look on Ebay, the more awake without fairy tales already are liquidating miners...
Same scenario, you can take a look on Ebay, the more awake without fairy tales already are liquidating miners...
Scared money don't make money. It's never too late. It's better to start than to never start at all.
You have the hindsight of 6 years of alt crypto mining. History has show that last statement is only true when timed appropriately.
Right now I would be selling cards, buying coins on weakness (eth and zec are 45% off from highs), and amassing capital to buy all the liquidation cards come September.
Why mine for 3 months only to pay the 1/2 the risk of buying cards. Patience should reward those who can buy a 1070 at pre insanity prices.
no, I have 10000$, I'm waiting for amd vega, i'll buy 9.
Scared money don't make money. It's never too late. It's better to start than to never start at all.
Youll be making less than a dollar per GPU in about a month. Do yourself a favor and buy some Litecoin with that money if your really considering paying 450 per GPU for an RX570/580. Youll never ROI at the price.
I found a few RX's to buy (finally), but they're all in the 450 USD range.
Right now it would be farming for ~2,50USD/day, not considering energy costs atm it would take 3 months to get the investment back.
My concern is:
a) within the 3 months the USD/day goes much lower;
b) the gpu itself heavily devalues
I have the money to get myself my second gpu (mining with just one atm, happy with the results so far), I'm a bit afraid to invest but also don't wanna look back in a few months and regret not doing it.
Is there any place I can check for good foresight or news regarding this?
Thank you all
Right now it would be farming for ~2,50USD/day, not considering energy costs atm it would take 3 months to get the investment back.
My concern is:
a) within the 3 months the USD/day goes much lower;
b) the gpu itself heavily devalues
I have the money to get myself my second gpu (mining with just one atm, happy with the results so far), I'm a bit afraid to invest but also don't wanna look back in a few months and regret not doing it.
Is there any place I can check for good foresight or news regarding this?
Thank you all
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