Topic: Is mining still a thing ??... (Read 449 times)

It doesn't need to be in the top 5 coins.

POW is not considered a waste of energy, otherwise why BTC and ETH price is rising and they are, with other small pow coin, the 80% of the crypto market cap?

Blow off all the dust from radiators once a month with compressed air, change thermal paste and pads and grease fan shafts once a year... Nothing much, really.

Any advice to keep the cards in good shape after years besides being conservative on the overclocks and keeping them cool? I am looking to do the same thing with my stash of RTX 3000 cards and keep them for long.

Back in 2017 people were saying exactly the same things. There were no cards in the market so those who wanted them were scraping bottoms at whatever price they were offered. I myself bought a few 1080ti's at way over $1000 back then. But you know what, I still have them and they still work making me money. The fact that I managed to have my ROI in 5 months back then was irrelevant to me - I wasn't looking for quick returns but rather for top of the line equipment that I would take good care of and it will work for me for years. I guess that was the right decision, so now I do exactly the same with 3080 and 3090 whenever I have a bit of spare cash on hand.

That is if ETH stays at that price or grow higher, the issue is no one can say for sure but it's just so much unsafe buying gpu at high price for mining right now but yes I expect so many people to keep buying GPUs even at high prices anyways, it's a big risk I don't want to take

First there was Bitcoin that you could mine with GPUs. Then when ASICs came it was replaced with LTC. Then Scrypt ASICs came and you could mine Darkcoin (X11 now Dash) for a while, even though it wasn't that profitable for 2 years during the 2014-2015 bear market.

Then when ETH was released it gave GPU miners hope again and since then no other coin has come close and I don't think any coin will. Reason why is because most new coins these days are tokens or POS. POW is considered a waste of energy and hence why new projects never implement it.

So I don't think there will be any top 5 coin in the near future that is going to be a new type of POW for GPU miners.

Generally speaking, looking the past trends, when a GPU coin with high profitability was dying, shortly after another one was ready to making profitable again these graphics cards. I saw this with LTC, DASH and ETH

Funny, when i asked this same question months ago here in the forums people seemed really INTO mining despite eth 2.0 was probably in the horizon now am getting everyone saying the exact opposite judging from this thread. There are alternative coins if eth fails and goes to hell no ?! Or will mining die with simply when coin (eth) deprioritize mining and reduce rewards...

Except I don't know how to trade any need a steady source of income, sorry I meant 10k in my own currency so more like 2.7k usd...

Not defending btc but we r still im the BEGGINING of the bull run why NOT make more money by year end and already pass the ROI ?! As I said am NOT defending my point but I wanna know ur opinon since we r still in beginning of bull run and looking at lots of gains down the road...

The only downside is lack of warranty protection  but it is okay deal for a few of them.

If you can get 3080's at that price, you should grab them and flip them all day for $200/250 mark up and skip the mining.  But the average joe miner does not have connections that can get cards at that price even with May deliver date. 

I paid a used 1070 310 USD, now is generating 1,5/2 USD, was this a good deal / risk management in your opinion?

I would pay 1165 for 3080 and take may delivery
I would pay   920 for 3070 and take may delivery

I can get both deals above.

I can also do Newegg Shuffle which sometimes hits.


I would not pay 2000 for a 3080 and instant ship
I would not pay 1300 for a 3070 and instant ship

Define slightly over priced.  10%, 20% over MSRP or 2x over MSRP?  Because unless you have some connections or willing to spend a lot of time hunting them down on websites/boards most usable gpu's are running crazy 2x or higher msrp.

no pain no gain 

eth is back over $1811 and paying  9.78 cents an mh

if it can stay at 9.78 cents an mh

buying slightly over priced cards is fine.

It seems bitcoin bullrun isn't done yet, adoption rates keeps growing almost everyday which can make this bull season last longer but mining isn't that reliable here because ethereum is the most profitable to mine but GPUs are too high in price and also EIP1559 is coming in July, too risky to invest on mining rigs right now, if you want to take risks it's better to buy BTC

If I were you and have $10k, I would not buy graphic cards to mining bitcoin or altcoin because that is not worth to do this day. Every coin's difficulty increases, which means we need to have high-end hardware to get good rewards from the mining. I prefer to use that money to trade because I see the chance to make a profit will be better now. Besides that, many coins can be the next potential coins that can increase in the short and long term, which can be my way to make a profit.

You aren't making any money until you make your ROI back in a short term possible, this is what makes mining sensible, just because I'm making some dollars everyday doesn't mean I'm in profits yet

As long as you make money...it is still a thing. Actually it is applicable to anything where you can make money--"IS A THING"

ok so bottom line it will take Forever to ship, i still got other sources to buy few cards but thanks for pointing this out to me...

Not a good time to buy cards and not a safe time to invest too, if you have to invest then don't use all that 10k, invest only what you can afford to lose and I'm sure you aren't ready to lose the whole 10k, as for mining hunt for MSRP if you can't find any then hold your money for now

you might want to check this reddit thread about shopblt.

https://www.reddit.com/r/nvidia/comments/jbmh6m/has_anyone_used_the_shopblt_website_to_order_the/

of course i was talking about shopblt,

It depends upon the condition of the 1080ti.  If it in good shape absolutely.  But you better plan to pull the heatsink and redo the thermal pads and paste just as a precaution, of course that should be a given.  Tweaked right, and you can easily get 41 to 45 mh/s.  Then based upon the numbers that philipma1957  posted in his reply for profitability per mh of 9.02cents/mh gives you a gross of $3.69 to $4.06 per card. Guessing power draw of 180w your daily electric costs 10 cents/kwh =$.45 so net around $3.24 to $3.61 per day.  That would make your ROI at about 165 to 180 days.

honestly if you can get 3000 series cards at msrp buy them.

and let me know your source

I never said I’ll buy at those inflated prices or from scalpers I was just asking in general how does it sound investing in 10k in mining that’s all !!...

I was talking about buying cards at their original cost not from scalpers eg (3080 cost of the 800-1000$) not electric 2000+ !..

Also how does it sound 580$ for an 1080ti ?!...

My recommendation now is to not buy hardware but instead buy crypto directly on an exchange, with a dollar cost average strategy.

Hardware is expensive and too much eth dependant in this moment, in the worst case you'd have bought overpriced hardware that could be depreciated very quickly in case of a bear market.

Putting $10k into a rig right now would be the equivalent of lighting $10k on fire. Use that $10k to buy when crypto inevitably crashes again or wait until after a crash when things start picking up to mine some altcoin because by then ETH would be unmineable

mining dead if btc dead, there will be coin to mine, crypto without mining, like human without soul, and mining is for base price the coin itself, like gold

dont worry 10k$ investment on gpu it wont go away like buying coin, you cannot be scammed on real things lol

Well first off take evga cards.  I mention them because they are Warranty transferable.

If I were to offer you  used but under full warranty  2x 3090 and 4x 3080 evga cards along with 2 mobos and psus for 10k  it would be considered a cheap price.

What does that gear do in hashrate?

about 103+103+91+91+91 = 480 mh

what does 480mh earn it earns 9.02 cents an mh or $43 a day excluding power cost what do they cost to run about 37 kwatts a day at 10 cents  3.70 at 20 cents 7.40

so 35-39 a day for gently used gear with long warranties

35 x 300 = 10500 so a possible break even for 10 months.

The problem is you won't find anyone to sell you  2x 3090 and 4 x 3080 with mobos and psu's for 10k
https://www.ebay.com/itm/EVGA-GeForce-RTX-3090-FTW3-ULTRA-GAMING-24G-P5-3987-KR-24GB-GDDR6X-iCX3/303910074976?

the cheapest evga 3090 on ebay is $2749

so 2 of them = 5498 + tax and the warranty may not transfer

https://www.ebay.com/itm/EVGA-GeForce-RTX-3080-XC3-ULTRA-10GB-GDDR6X-Graphics-Card-Ships-Same-Next-Day/143970690287?

the cheapest 3080 is 2100 so 4 of them are 8400 + tax

so you go to 13898 + tax with suspect warranty add 502 for mobos you are at 14400 and tax of 1100 you go to 15500

which is a lot more than 10k

So to me buying at 10k if I were to offer the deal (I am not doing that) would be maybe okay

Reality is on ebay that deal is going for 15500 not 10k

So yeah see if you can get 4x of these cards
https://www.evga.com/products/product.aspx?pn=10G-P5-3885-KR

and 2 x of these cards

https://www.evga.com/products/product.aspx?pn=24G-P5-3987-KR

for 9400 or 9500 if you do buy them.

I will sell you 2 mobos with psu's  to run them 3 cards per mobo

and I would tell you even if you do it is kind of iffy.

3060ti is working for mining fine, the limit of hashrate only affects the new RTX3060, I don't think this is the best time to build a mining rig, that 10,000$ can build you 2x of that 3060ti build if not for the high gpu price presently and also we still don't know what impact the next ethereum upgrade will bring, for now EIP1559 isn't showing interest to miners as rewards will surely be reduced

$ 10,000 now costs 1 farm 3060ti * 6 video cards. But be careful with investments, because the new Nvidia models will be limited in Ethereum mining.
I will wait for a drop in prices for video cards and only then I will invest in mining. So far, I believe that the prices for video cards are very expensive.
It may happen that you invest $ 10,000 and the profit per day drops to $ 6 from 1 farm.

Long run mining requires green energy or free electricity because if bear comes you won't have to worry about electricity bills

Short run mining is presently a no go area, GPUs are costly and getting ROI back will take longer, meaning bears can take over the market under few more months

There you have it, now the choice is yours, remember, what makes mining on long run a good idea is if you don't have to pay for electricity because a single card that gives 5$ today can bring you 1$ tomorrow

Just wondering is it still worth investing 10k$ in graphics cards and mine on the long run or is mining dead with ETH new announcement ...

Thanks,