Should I invest in GPU mining? - page 2.

icmanik

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Quote from: Djentriser on June 09, 2017, 02:35:31 PM

Quote from: iluvbitcoins on June 05, 2017, 04:04:31 PM

Hey guys

I'v been here for a long time

But most mining I did was cloud based and from my laptop/PC Cheesy

So, I'm really not experienced in the field.

I'm considering investing into GPU mining
I'm reading this

http://www.coinminingrigs.com/how-to-build-a-6-gpu-mining-rig/

Building such a rig would cost around 2500$ if I'm right?
Also, setting up different GPUs shouldn't affect performance?

As I see, mining ETH with that sort of rig would bring around 1000$/month
Making a break even after 3 months

What's my biggest motivator is that, even if ETH goes down, there's always other profitable coins to mine with the setup, right?
I just want some tips to see if I'm not getting ahead of myself

For the 100th time... gpu mining will die in a couple of months. Do not start mining! Nvidia and AMD will release series of gpus only for mining which will skyrocket the difficulty of ETH and other coins also. What will happen with the fork of btc? Do not invest in mining hardware you will lose your money and the market will be flooded with cheap gpus. This happened in 2013 do no relive the past mistakes.

What you mean mining will die what about mining different alt coins like etc or monero?

mocoin

newbie

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GPU mining is profitable but profitable Amd and Nvidia cards are not available in the market.Btc rates are on the peak so everyone is interested in the mining.But there is hardware purchase problem worldwide.

iluvbitcoins

legendary

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Freedom&Honor

Quote from: bclcjunkie on June 10, 2017, 04:02:49 AM

it's just awesome to see every tom, dick and harry getting into gpu mining. i guess when eth goes hybrid POS and difficulty gets parabolic combined with price crash. I'll be waiting with wads of cash to buy up their GPUs. And by the way i won't be surprised if zcash ASIC gets announced making gpu mining move to lower cap shitcoins, which should also collapse when this entire altcoin frenzy is over.

Bitcoin scaling issues won't be resolved - at all.

As long as this issue persists and it will persist because the community will never agree on a solution that would fix this (or brake it) the alternate crypto market will keep receiving an influx of users and their capital.

bclcjunkie

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it's just awesome to see every tom, dick and harry getting into gpu mining. i guess when eth goes hybrid POS and difficulty gets parabolic combined with price crash I'll be waiting with wads of cash to buy up their GPUs. And by the way i won't be surprised if zcash ASIC gets announced making gpu mining move to lower cap shitcoins, which should also collapse when this entire altcoin frenzy is over.

iluvbitcoins

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Freedom&Honor

Quote from: poby on June 09, 2017, 06:05:36 PM

Market Cap is irrelevant. Yes GPU mining will die very likely before the end of this year for those paying more than 10 cents a kw. The reason being the constant flood of new miners coming online is rapidly increasing the difficulty of all the coins. If it weren't for the rapidly increasing prices, it would be dead already. The simple inescapable fact is that gpu mining depends on increasing coin value to sustain profitability. If prices stop rising, difficulty will still keep increasing for a while, profits will plummet, anyone paying more than 10 cents a kw will be losing money. Ebay will be flooded with high end video cards so you will be lucky to get back 10 cents on the dollar of what you paid for your rig.

It will happen. There can be no doubt about it. Maybe not this month, maybe not next but the current boom times will definitely end. I think it's optimistic to hope to maintain profitability through to the end of the year, but we might be lucky. Those who got set up a few months ago, have done very well. Anyone building a rig now I reckon has at best a 50/50 chance of getting a ROI.

Well, ROI is 3 months, so basically if it remains profitable until the end of the year, I'll be in deep profit Cheesy

Quote from: poby on June 09, 2017, 11:32:59 PM

Quote from: paul21 on June 09, 2017, 10:33:07 PM

I have been paying 9-12 c/kwh since 2013. In the winter months (nov-mar) it is 0 c/kwh since my home is heated with a giant resistor, and this offsets that.

Aint you a lucky one

I was hoping you were gonna say 20 c/Kwh. Then there might be some hope for those of us without such cheap electric. But yeah like I said, unless you got cheap electric, it's never gonna be a profitable business in the medium to long term.

Outside North America and India and China, we are stuck with high electric going up dramatically every year. Sux to be us Sad

20c/kwh :O
That's just what the fuck, how do people live with those prices xD
I always thought electricity in Croatia was expensive, and it's 0.08$/kwh during the day and 0.038$/night
Since value of USD is fluctuating, it varies, Croatian Kuna is a lot more stable
USD is currently 6.62 HRK
0,52602 HRK from 7-22 (summer) and 0,25764 from 22-7
During winter it's 7-21 and 21-7, so an extra hour of cheap electricity

Basically, average daily price during the summer would be 0,4253775 HRK per kwh
So that's around 6.4c/kwh

rngkll

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Have thought of mining also some other Crypto at the same time to increase profitability. Like SiaCoin for example.

poby

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Quote from: paul21 on June 09, 2017, 10:33:07 PM

Quote from: poby on June 09, 2017, 10:23:27 PM

Quote from: paul21 on June 09, 2017, 10:10:08 PM

GPU mining was dead in a few months for how many years now? I put together a 4x 7950 rig in 2013, and it's been more or less profitable for 4+ years despite bitcoin, scrypt, and others all going ASIC. It's not always highly profitable, but at a minimum I get free power for 3-4 months a year because I account the heat output as equivalent to my resistance-based heater. By the time the residual value of the hardware is calculated, it's basically a medium risk hobby.

How much do you pay in US cents per kwh?

I have been paying 9-12 c/kwh since 2013. In the winter months (nov-mar) it is 0 c/kwh since my home is heated with a giant resistor, and this offsets that.

Aint you a lucky one

I was hoping you were gonna say 20 c/Kwh. Then there might be some hope for those of us without such cheap electric. But yeah like I said, unless you got cheap electric, it's never gonna be a profitable business in the medium to long term.

Outside North America and India and China, we are stuck with high electric going up dramatically every year. Sux to be us Sad

shaninium

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Quote from: tonygal on June 07, 2017, 02:42:18 PM

GPUs specifically for mining?? Shocked

First time I hear about that.
Do you have a source/link for me?

I'd be very much interested in their gear!!

https://www.google.com.au/amp/s/www.cryptocoinsnews.com/nvidia-amd-to-release-cheaper-bitcoin-mining-gpus/amp/

paul21

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Quote from: poby on June 09, 2017, 10:23:27 PM

Quote from: paul21 on June 09, 2017, 10:10:08 PM

GPU mining was dead in a few months for how many years now? I put together a 4x 7950 rig in 2013, and it's been more or less profitable for 4+ years despite bitcoin, scrypt, and others all going ASIC. It's not always highly profitable, but at a minimum I get free power for 3-4 months a year because I account the heat output as equivalent to my resistance-based heater. By the time the residual value of the hardware is calculated, it's basically a medium risk hobby.

How much do you pay in US cents per kwh?

I have been paying 9-12 c/kwh since 2013. In the winter months (nov-mar) it is 0 c/kwh since my home is heated with a giant resistor, and this offsets that.

poby

full member

Activity: 258

Merit: 104

Quote from: paul21 on June 09, 2017, 10:10:08 PM

GPU mining was dead in a few months for how many years now? I put together a 4x 7950 rig in 2013, and it's been more or less profitable for 4+ years despite bitcoin, scrypt, and others all going ASIC. It's not always highly profitable, but at a minimum I get free power for 3-4 months a year because I account the heat output as equivalent to my resistance-based heater. By the time the residual value of the hardware is calculated, it's basically a medium risk hobby.

How much do you pay in US cents per kwh?

paul21

member

Activity: 70

Merit: 10

GPU mining was dead in a few months for how many years now? I put together a 4x 7950 rig in 2013, and it's been more or less profitable for 4+ years despite bitcoin, scrypt, and others all going ASIC. It's not always highly profitable, but at a minimum I get free power for 3-4 months a year because I account the heat output as equivalent to my resistance-based heater. By the time the residual value of the hardware is calculated, it's basically a medium risk hobby.

The reality is too many people want mining to be GPU-based for the ecosystem of mine-able coins to disappear. CPU-based lends itself too easily toward botnets, ASIC based lends itself to centralized manufacturers with the NRE capital, and that leaves GPU as the quasi-distributed platform that enthusiasts center around.

VyprBTC

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Quote from: poby on June 09, 2017, 06:05:36 PM

Quote from: fistfullofbtc on June 09, 2017, 04:47:42 PM

everything has risk, but the new mining graphics cards will have 90 day warrentys for a start, making the gaming cards worth more, mine have 3 year warrentys, amongst over things, they are just talking about removing things and making them cheaper, not 50 times more efficient in hashing.

Also 2013 was light years away, the market was 1.5 billion for all coins, the current market cap is 100 billion, do you really think gpu mining will disappear overnight due to new mining gpus, then you are stupid.

my 5 gtx 1070 generate around 25 dollars a day, so 120 days they have paid for themselves. there is still demand for gaming cards due to vr etc.

Market Cap is irrelevant. Yes GPU mining will die very likely before the end of this year for those paying more than 10 cents a kw. The reason being the constant flood of new miners coming online is rapidly increasing the difficulty of all the coins. If it weren't for the rapidly increasing prices, it would be dead already. The simple inescapable fact is that gpu mining depends on increasing coin value to sustain profitability. If prices stop rising, difficulty will still keep increasing for a while, profits will plummet, anyone paying more than 10 cents a kw will be losing money. Ebay will be flooded with high end video cards so you will be lucky to get back 10 cents on the dollar of what you paid for your rig.

It will happen. There can be no doubt about it. Maybe not this month, maybe not next but the current boom times will definitely end. I think it's optimistic to hope to maintain profitability through to the end of the year, but we might be lucky. Those who got set up a few months ago, have done very well. Anyone building a rig now I reckon has at best a 50/50 chance of getting a ROI.

Sweet. I can't wait to get a 1080 Ti for $60. Roll Eyes

poby

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Quote from: fistfullofbtc on June 09, 2017, 04:47:42 PM

everything has risk, but the new mining graphics cards will have 90 day warrentys for a start, making the gaming cards worth more, mine have 3 year warrentys, amongst over things, they are just talking about removing things and making them cheaper, not 50 times more efficient in hashing.

Also 2013 was light years away, the market was 1.5 billion for all coins, the current market cap is 100 billion, do you really think gpu mining will disappear overnight due to new mining gpus, then you are stupid.

my 5 gtx 1070 generate around 25 dollars a day, so 120 days they have paid for themselves. there is still demand for gaming cards due to vr etc.

Market Cap is irrelevant. Yes GPU mining will die very likely before the end of this year for those paying more than 10 cents a kw. The reason being the constant flood of new miners coming online is rapidly increasing the difficulty of all the coins. If it weren't for the rapidly increasing prices, it would be dead already. The simple inescapable fact is that gpu mining depends on increasing coin value to sustain profitability. If prices stop rising, difficulty will still keep increasing for a while, profits will plummet, anyone paying more than 10 cents a kw will be losing money. Ebay will be flooded with high end video cards so you will be lucky to get back 10 cents on the dollar of what you paid for your rig.

It will happen. There can be no doubt about it. Maybe not this month, maybe not next but the current boom times will definitely end. I think it's optimistic to hope to maintain profitability through to the end of the year, but we might be lucky. Those who got set up a few months ago, have done very well. Anyone building a rig now I reckon has at best a 50/50 chance of getting a ROI.

stefek99

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Activity: 233

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https://genesis.re

Quote from: poby on June 05, 2017, 04:26:20 PM

Right now it's insanely profitable. But don't expect it to last.

"Mainstream" media covering that: https://motherboard.vice.com/en_us/article/an-idiots-guide-to-building-an-ethereum-mining-rig?utm_source=mbfb

I always thought there is someone with more time, cheaper electricity, safer storage, more experience... Now... I'm considering diving into mining as well...

Same GPUs for simplicity of configuration.

Is there a website explaining which GPU per hash per electricity usage to buy?

Or buy any, as everything is sold out anyway...

fistfullofbtc

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Activity: 210

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everything has risk, but the new mining graphics cards will have 90 day warrentys for a start, making the gaming cards worth more, mine have 3 year warrentys, amongst over things, they are just talking about removing things and making them cheaper, not 50 times more efficient in hashing.

Also 2013 was light years away, the market was 1.5 billion for all coins, the current market cap is 100 billion, do you really think gpu mining will disappear overnight due to new mining gpus, then you are stupid.

my 5 gtx 1070 generate around 25 dollars a day, so 120 days they have paid for themselves. there is still demand for gaming cards due to vr etc.

Djentriser

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🌟 æternity🌟 blockchain🌟

Quote from: iluvbitcoins on June 05, 2017, 04:04:31 PM

Hey guys

I'v been here for a long time

But most mining I did was cloud based and from my laptop/PC Cheesy

So, I'm really not experienced in the field.

I'm considering investing into GPU mining
I'm reading this

http://www.coinminingrigs.com/how-to-build-a-6-gpu-mining-rig/

Building such a rig would cost around 2500$ if I'm right?
Also, setting up different GPUs shouldn't affect performance?

As I see, mining ETH with that sort of rig would bring around 1000$/month
Making a break even after 3 months

What's my biggest motivator is that, even if ETH goes down, there's always other profitable coins to mine with the setup, right?
I just want some tips to see if I'm not getting ahead of myself

For the 100th time... gpu mining will die in a couple of months. Do not start mining! Nvidia and AMD will release series of gpus only for mining which will skyrocket the difficulty of ETH and other coins also. What will happen with the fork of btc? Do not invest in mining hardware you will lose your money and the market will be flooded with cheap gpus. This happened in 2013 do no relive the past mistakes.

iluvbitcoins

legendary

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Freedom&Honor

Quote from: Vann on June 09, 2017, 05:53:44 AM

For the GPU's I agree, unless you are patient and buy them one at a time. Lots of cheaper mobo's that would work, ASUS Prime Z70-A / AR for one.

Should of known about it earlier Cheesy

Just ordered the last RX 470 for 330€

So my total expenses are 3087$ without fees to zazarb, all4btc and wirex I used to order most of these things.
Let's say the average fee was 4%, my total is 3210$

A lot, a lot more than I thought when I started this
But anyways, I'm hoping for a quick break even.

Vann

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Activity: 1036

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Quote from: iluvbitcoins on June 09, 2017, 05:50:01 AM

Quote from: Vann on June 09, 2017, 05:46:38 AM

Quote from: iluvbitcoins on June 09, 2017, 05:35:27 AM

Quote from: philipma1957 on June 08, 2017, 04:48:01 PM

@ op how much did you spend for the six card setup?

300$ for ASRock H81 PRO BTC R2.0
65$ for 9 Risers
1068$ for 3x rx470 (+50$ for shipping forwarding from Italy)
1070$ for 2x gtx1070
256$ for hx1200i PSU (+ around 25$ probably for forwarding the hx1200i from United Kingdom)
53$ for 120 gb SSD
56$ Intel Celeron G1840 Processor 2.8 GHz
25$ 4gb RAM
20$ fans, zip ties, rubber, grid..

I found a local ad for an rx470 pretty cheap, so I planned to buy that one as the 6th one
However, no one is yet answering so I'll probably have to purchase +1 online.

Anyways, so far total is 2718$ and I have to order one more GPU.
+ I paid around 70% of the orders in bitcoin which adds up around 4% fees on average, which would come in total over 2800 USD

Wow, you paid top dollar for that mobo and all the GPU's. The same rig here would cost less than $2000 if you bought it right.

Everything is out of stock currently, only way to get equipment is to pay high :/

For the GPU's I agree, unless you are patient and buy them one at a time. Lots of cheaper mobo's that would work, ASUS Prime Z70-A / AR for one.

iluvbitcoins

legendary

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Freedom&Honor

Quote from: Vann on June 09, 2017, 05:46:38 AM

Quote from: iluvbitcoins on June 09, 2017, 05:35:27 AM

Quote from: philipma1957 on June 08, 2017, 04:48:01 PM

@ op how much did you spend for the six card setup?

300$ for ASRock H81 PRO BTC R2.0
65$ for 9 Risers
1068$ for 3x rx470 (+50$ for shipping forwarding from Italy)
1070$ for 2x gtx1070
256$ for hx1200i PSU (+ around 25$ probably for forwarding the hx1200i from United Kingdom)
53$ for 120 gb SSD
56$ Intel Celeron G1840 Processor 2.8 GHz
25$ 4gb RAM
20$ fans, zip ties, rubber, grid..

I found a local ad for an rx470 pretty cheap, so I planned to buy that one as the 6th one
However, no one is yet answering so I'll probably have to purchase +1 online.

Anyways, so far total is 2718$ and I have to order one more GPU.
+ I paid around 70% of the orders in bitcoin which adds up around 4% fees on average, which would come in total over 2800 USD

Wow, you paid top dollar for that mobo and all the GPU's. The same rig here would cost less than $2000 if you bought it right.

Everything is out of stock currently, only way to get equipment is to pay high :/

Vann

hero member

Activity: 1036

Merit: 606

Quote from: iluvbitcoins on June 09, 2017, 05:35:27 AM

Quote from: philipma1957 on June 08, 2017, 04:48:01 PM

@ op how much did you spend for the six card setup?

300$ for ASRock H81 PRO BTC R2.0
65$ for 9 Risers
1068$ for 3x rx470 (+50$ for shipping forwarding from Italy)
1070$ for 2x gtx1070
256$ for hx1200i PSU (+ around 25$ probably for forwarding the hx1200i from United Kingdom)
53$ for 120 gb SSD
56$ Intel Celeron G1840 Processor 2.8 GHz
25$ 4gb RAM
20$ fans, zip ties, rubber, grid..

I found a local ad for an rx470 pretty cheap, so I planned to buy that one as the 6th one
However, no one is yet answering so I'll probably have to purchase +1 online.

Anyways, so far total is 2718$ and I have to order one more GPU.
+ I paid around 70% of the orders in bitcoin which adds up around 4% fees on average, which would come in total over 2800 USD

Wow, you paid top dollar for that mobo and all the GPU's. The same rig here would cost less than $2000 if you bought it right.

Topic: Should I invest in GPU mining? - page 2. (Read 6638 times)