Topic: Radeon VII - Will it be good at Cryptomining (Read 505 times)

If you are looking at starting out on mining with a tight budget while hoping to enjoy the enormous benefits of mining, then I believe you should have a look at the Whalesburg Crypto Mining Platform. The whalesburg platform is the first of its kind, making use of an algorithm which automatically switches profits, it offers a software system that pioneers profit switching in crypto-mining. The transparent system it offers allows start-up crypto-miners to understand its algorithm. Monitoring and gathering information, the software provides the most viable option to mine, helping the miner to gain maximum yield while being time efficient. It wouldn't be bad to explore the option of mining on the platform.

Great, anyway , are you a miner, are you planning to set up a bigger rig in the near future?

Exactly. Thats why I will only buy one to play arround. I can still use it for VR and gaming if nothing else. But buying more will require a good timing and is dependent on the market moves as well as FPGA developments.

I agree with you here. Although I think most should be accumulated in BTC. Maybe it will not go up most but its the safest bet. In my mind it will become a store of value, like digital gold. But yes this year whatever you buy and its not a shitcoin can only go up.

Hello i have read all the comments here by our fellow bitcoiners and find everyone as an expert in terms of technicality. BUT to answer your question..... YES ,Radeon VII is very good in mining cryptocurrency. It is powerfull enough to mine your prefered coin BUT you need to do Math and perfect location and timing and most important your electricity cost to make a good profit.

It was not only him, many here including me sold thousands of eth for $30 each, to compensate i sold thousands of eth for $1300 each, never know when market will crash or be pumped, right now it can only be going up cause it makes no sense billions of dollars invested on crypto for it to fail around the corner, smart people like me are buying eth on dumps and holding to sell when btc reaches 80-100k in 2020/2021 or eth reaches 10k, whichever will be.

The usd is not worth as used to be, a crisis might happen and from there crypto and gold will be on the extreme rise.

You are the guy that only miner ETH all the time right? There are other algos. As I said ethash is dead for GPU mining sooner or later. Sooner probably. New PoW coins are still comming out and older are forking to new algos. Grin just launched yesterday.

Noone is arguin buying GPUs today is a very bad idea and again if you actually read what I wrote I said so. However saying there will be no market reversal is just plain speculation. I am sure there will be just not probably this year. I expect a new long bull run next year based on logarithmic charts. Again speculation sure. But if you don't risk it there is no gains. Mining is far far from dead. PoW showed many weaknesses but its not going nowhere because there is not real competitor here yet to be widely adopted. Also PoW actually makes cost to printing money opossed to some "lets just make 1 billion coins and put them in circulation" method. There is room for PoW to evolve.

I bet the same situation was already played out years back. Its the same repeating cycle. The only thing I really see is FPGA taking a big chunk of GPU market so on the next run GPUs will not have the same crazy profitability as in 2017. But they will be profitable again.

P.S.
The same mistake as the guy who mined like 10.000 ETH and sold them all to not even cover the price of equipment he bought. You should see his blog post after the 2017 run

Yea this has been heard on these forums for nearly 10 years now. Its good that these bull markets wipe out people like you, since only the true adopters remain on each flush cycle and the sphere just gets stronger and stronger each time

market reversal? who has told you that shitty lie?? ETH is going hard fork tomorrow or the day after tomorrow. Mining at current prices is a no go. With a reduction from 3 to 2 , it will be absolutely a disaster. And moreover the fork is not even attracting people to invest.

So please, base your statement on something else than lies.

BTW, DO NOT BUY GPUS FOR MINING. Mining is going to die this year and you´ll not even get money selling the mined coins for paying the electricity bill. it's nonsense.

you guys thinking of buying this crap must do it 'for fun' considering a 2 year payback is VERY optimistic in this market. GPU mining these days is about as effective as picking up pennies on a busy street corner.

Vega 56/64 with its 500GB/s mem bus could do about 45-50MH/S optimized....I dont see why this wouldn't be able to do ~100MH/s. Obviously ETH will have ASICS all over it soon so this will probably really shine with XMR @ 4kh/s

Real kicker here would be power (especially if it can do both algorithms at under 200 watts).

Did you actually read what I wrote? But if there is going to be a market reversal then its important to enter at the smart point in time not again buy GPUs at all time high prices.

at current prices, YOU HAVE TO BE REALLY STUPID TO THINK OF BUYING CARDS FOR MINING. Really stupid.

Just for ProgPow: https://docs.google.com/spreadsheets/d/17nSAePMtoncUWe0YY2HjOgV3J8n-fm4y34j-T0_hUVQ/edit#gid=0

Almost 3x faster. So the new card I bet will be around 4x faster at least with way less power consumption. All speculation though as I said. Currently buying anything for mining is stupid anyway unless you have free power or like losing money.

And I said I will buy one and test. Its all speculation at this point. Also it greatly depends on the algo. Why are you all so hung on ethash that is about do die anyway. All will either fork away or perish under ASICs. So comparing ethash is poor comparison. New algos are comming out like coocko, ProgPow and others and there the difference is more then just 2x I would bet. Even current Vegas outperform 570 more then 2x. Also 4GB cards already can't handle some of the new algos.

Mining ETH for profit is a thing of the past.

Did you understand what I wrote? I said radeon vii would be a good card if it was faster than 4 x rx 570 but as it stands it is likely better than only 2 rx 570. For example, 2 x rx 570 = 60mhs on eth, 4 x rx 570 = 120mhs.

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=60&p=150&fee=3.0&cost=0.1&hcost=699&commit=Calculate

2046 days to roi

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=120&p=150.0&fee=3.0&cost=0.1&hcost=699.0&commit=Calculate

670 days to roi

The only way radeon vii is worth the money, is if is 4 times faster than a rx 570, we all know that is not going to happen.

You need to take electrictiy into account. At 7nm it will probably consume very little. 4x 570 consume a lot. They are not even profitable atm.
I will probably buy one to play around with it. More depends on the results.

at $699, hell no, it will def be twice as faster than a rx 570 but not 4 times. You can buy a new rx 570 for as low as $180 x 4 = $720.

https://youtu.be/4dNqg3MxGNg

Talking to engineers at the AMD booth at CES 2019 ... they seem to think 25% in raw hashpower increase. The question is, are they sandbagging and its actually much better?