Pro miners pls give an answer on this - page 2.

FP91G

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Quote from: BitKongy on August 25, 2022, 09:31:09 AM

I am asking this on behalf of a friend, is 580 8gb still worth buying in 2022 for long term crypto mining? The rx580s are the cheapest around him like 150-180$ per card, what do you think pro miners?.. He said he has cheap electricity bill.

580 8gb have been mining for 3-4 years. In my country, there are a lot of offers for 150-160 dollars.
To buy these video cards, you need to carefully check this. If you want to buy them, then do it after the end of ethereum mining, when there will be much more offers and prices will be much lower. For the remaining 20-25 days of Ethereum mining, you will not get a big profit.

rdluffy

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Quote from: CryptoATM on August 26, 2022, 01:16:19 AM

How about buying those RX580 for 70-80$ each? Yes if this happens I will buy eight pieces to mine ravencoin only, the graphic card is very old but yes mining software still supports the graphic cards, we don't know what will happen in future.

It's hard to say if 70 or 80 USD are good prices, but if you have cheap electricity, maybe it's worth
Just do the math

Here in my country for example, my electricity rate is .20, so it's barely profitable, like 10cents per day per card (rx 580), putting 5 in a rig will be .50 cents a day = 30 USD month
Not worth the time and noise in my opinion

But let's say you have 0.05 rate, things start to look better

After ETH POS we'll have a better understanding about which cards will continue to mine in profit (if), but I'm doubt about Polaris generation. I suspect only RTX 3XXX and AMD 6XXX will continue on the game

devil2man

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Unfortunately it is not worth buying a 580 since the end of eth mining is approaching, then it really consumes a lot of energy for the other algorithms, nvidia with at least 6gb of ram are much better

Ketesnuko

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Buy something recent, like the RX5700, 6700, 6600xt, rtx3060, if something old is what you prefer due to lesser price on the market make sure its what gamers still use to build gaming PC today like GTX 1070 and 1080, gamers still pairs this card with high-end gen CPUs.

SafuBTC

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The only thing that makes a graphic card outdated is lesser VRAM, if you can say that RX580 8gb are no more a good choice for mining what about GTX 1070 and 1080? To me they are in same category, they are old but still works because they have 8GB memory, that's all that matters, if you can pay the bills for power consumption then you are not on a wrong path.

CryptoATM

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How about buying those RX580 for 70-80$ each? Yes if this happens I will buy eight pieces to mine ravencoin only, the graphic card is very old but yes mining software still supports the graphic cards, we don't know what will happen in future.

adaseb

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No it’s not worth it. It’s overpriced. It seems pretty almost at MSRP when they came out in 2016.

ETH is no longer going to be mineable. The profitability for anything GPU mineable will be very little. I don’t think it’s wise to invest this much per GPU for such a old GPU. You are better off buying something newer that you can sell to a gamer in the future.

Gamers won’t want the rx580 due to its age.

swogerino

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Bitcoin Casino Est. 2013

Quote from: BitKongy on August 25, 2022, 09:31:09 AM

I am asking this on behalf of a friend, is 580 8gb still worth buying in 2022 for long term crypto mining? The rx580s are the cheapest around him like 150-180$ per card, what do you think pro miners?.. He said he has cheap electricity bill.

If that is his cheapest option and if he truly has cheap electricity bill which I would define right now up to 0.05 and for long term like your friend is looking a maximum of 0.07 cent would be the max limit of what can be considered "cheap" electricity compared to us in Europe which the prices have skyrocketed and most likely we will see further increase this very September.

6 such cards would cost him like 900 dollars plus 200-300 dollars for used other parts that would be 1200 dollars for a 6 cards rig,of course he should get a very good PSU that may rise the cost but it will be worthwhile in the long run,so for 1500 USD he can buy the parts himself or from what I have seen in local market where I am plus in Ebay and others you can get a rig with 6 such cards in the above mentioned price.It can be as jump starting for your friend,if he likes what he sees and start to thoroughly understand cryptos even more,I am sure he will expand.

JayDDee

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Investment decisions shouldn't be made based on 3rd hand forum advice. "Professional" advice, by definition, is paid for.
If you're friend isn't comfortable making their own decision they should get professional advice or stay away.

That's my free advice.

rdluffy

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I don't know how cheap is his electricity rate, but in general, RX 580 and Polaris generation are already outdated
They are good in ETHASH, but with the end of Etherem POW I think Nvidias are more future proof.
Nvidias are better to mine more algos.

I've seen good offers on RTX 2060, it's old, but 1 generation ahead of polaris, and can mine more algos.

Maybe it's better to wait a little until ETH changes and see about the profitability

BitKongy

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I am asking this on behalf of a friend, is 580 8gb still worth buying in 2022 for long term crypto mining? The rx580s are the cheapest around him like 150-180$ per card, what do you think pro miners?.. He said he has cheap electricity bill.

Topic: Pro miners pls give an answer on this - page 2. (Read 425 times)