Some questions, a dilemma and confusion...

smax303

newbie

Activity: 19

Merit: 0

Quote from: TheFilmGuy on March 13, 2021, 06:22:15 AM

Here's my two cents on your dilemma:

Two months ago, mid January, I started researching the mining opportunities, and sometime later decided to buy 6 x 5600 XTs. The whole mining rig is $4300, around $600 per card and around $600 for the other parts.
Yes, I do realise that I paid almost twice the msrp. I bought all the cards from ebay.de, because I live in Bulgaria and here the prices of everything were in the sky. Five of the cards are new, one is used for a while. So, with a lot of sleepless nights, reading, watching videos and learning - now I've been mining for 2 weeks with 3 of the GPUs. On Tuesday, hopefully I will receive my remaining GPUs, so the rig will start working fully the next week. I just need to flash the BIOSes and do some overclocking.

I know that there's a huge risk in this investment nowadays, but for me it's worth the time and money. I like this process, it's fun and challenging, and I regret that I did not start earlier, say 4-5 years ago...

So, my suggestion to you is - do your own research and calculations, and make it worth to you.

Good luck, mate! BTC

Thank you for your input!

Yes I do too plan to buy the rig and upgrade it once I can.

TheFilmGuy

newbie

Activity: 6

Merit: 1

Here's my two cents on your dilemma:

Two months ago, mid January, I started researching the mining opportunities, and sometime later decided to buy 6 x 5600 XTs. The whole mining rig is $4300, around $600 per card and around $600 for the other parts.
Yes, I do realise that I paid almost twice the msrp. I bought all the cards from ebay.de, because I live in Bulgaria and here the prices of everything were in the sky. Five of the cards are new, one is used for a while. So, with a lot of sleepless nights, reading, watching videos and learning - now I've been mining for 2 weeks with 3 of the GPUs. On Tuesday, hopefully I will receive my remaining GPUs, so the rig will start working fully the next week. I just need to flash the BIOSes and do some overclocking.

I know that there's a huge risk in this investment nowadays, but for me it's worth the time and money. I like this process, it's fun and challenging, and I regret that I did not start earlier, say 4-5 years ago...

So, my suggestion to you is - do your own research and calculations, and make it worth to you.

Good luck, mate! BTC

smax303

newbie

Activity: 19

Merit: 0

Quote from: adaseb on March 13, 2021, 01:48:44 AM

Quote from: smax303 on March 12, 2021, 03:46:47 PM

I see.

Thanks for the replies guys.

Question about the cards: Which do you think will perform better when POS hits? The RX 580 or the 1660 Super?

Thank you.

You mean which will be worth more when mining is over? Definately the Nvidia.

I basically had both brands of GPUs and in the last few years I always had difficulty selling AMD video cards. I am not talking about the last 3 months, you could sell any GPU in the last 3 months but I am talking about the last 3 years, including the 2018 bear market.

I would make a Craiglist ad for my AMD RX GPU and it would take maybe a month or two to sell a single GPU. Most of the replies were low-ballers. With Nvidia it usually almost sold within the week and the prices held up better from my MSRP.

Guess I'll go with the Nvidia then. Thanks again.

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: smax303 on March 12, 2021, 03:46:47 PM

I see.

Thanks for the replies guys.

Question about the cards: Which do you think will perform better when POS hits? The RX 580 or the 1660 Super?

Thank you.

You mean which will be worth more when mining is over? Definately the Nvidia.

I basically had both brands of GPUs and in the last few years I always had difficulty selling AMD video cards. I am not talking about the last 3 months, you could sell any GPU in the last 3 months but I am talking about the last 3 years, including the 2018 bear market.

I would make a Craiglist ad for my AMD RX GPU and it would take maybe a month or two to sell a single GPU. Most of the replies were low-ballers. With Nvidia it usually almost sold within the week and the prices held up better from my MSRP.

ipp2

newbie

Activity: 37

Merit: 0

The moment someone says they have a budget for a build is the moment I'm confused.

Start small and expand as you see fit, don't budget yourself.

smax303

newbie

Activity: 19

Merit: 0

I see.

Thanks for the replies guys.

Question about the cards: Which do you think will perform better when POS hits? The RX 580 or the 1660 Super?

Thank you.

fmz89

legendary

Activity: 1762

Merit: 1002

Quote from: smax303 on March 11, 2021, 08:11:55 PM

Hello. I'm from Portugal, if that matters.

So, here's the thing. I have 2 Bitmain S9 miners in my basement. Right now, I can only turn them on at night, mainly due to the heat they make and the noise also.

I have about 3500€ available to spend on a rig. I'm looking at one with 6 RX 580 Sapphire 8GB Nitro and the price is 3500€ and I'm looking at a 1660 rig with 6 cards, just a bit more expensive at 3700€.

Electricity is free so no worries about that. What I'm concerned is what's going to happen in July and the fact that POW is going to end.

From my calculations, it seems I should hit ROI on the rig in about 7-8 months. Not in time for July.

So, questions... Is this worth? What will miners turn to once POW is over? RavenCoin? Will the profits be about the same, less or more? I know it's always speculation but there should be consensus here about that.

Another thing, I use Nicehash. Using that, should I even be worried? I mean, doesn't NiceHash mine whatever coin is more profitable with the hardware you have?

And last but not least... Do these rigs make a great amount of heat and noise? I don't mind having a fan or two pointed at the rig, but it cannot be as loud as the S9's, otherwise it's not really worth it.

Thanks and sorry for the n00b questions.

Basically eth only halving the rewards from burnerd the fee on july, and pow still continue until eth 2.0 pos fully implemented and run without problem, beside mining eth, you can mine other coins,at this very moment when gpu already 2x msrp, i think better to buy newer gpu which is better hashrate on other algo, and future proof

FloppyPurpleGherkin

jr. member

Activity: 309

Merit: 2

Even with 'free' electricity that rig is way overpriced.

In a bear market you'd get that rig for $1300-$1500 tops.

I paid £120(~$150) for each of my Nitro 580 8GB's in early October last year... That is there true price when this current bull market ends.

smax303

newbie

Activity: 19

Merit: 0

Quote from: adaseb on March 11, 2021, 11:40:15 PM

POW doesn't end in July, only the miner rewards will be less. Nobody knows how the profitability will be back then. Even right now an entire week can make all the difference. A week ago we were at $1300 and now we are at $1800 again. Price is very volatile and the difficulty keeps climbing.

In my opinion I wouldn't buy 3500 Euro because its like $4200 USD for a rig which has GPUs which are 5 years old. At $4200 that's about $700 for a GPU. The motherboard, PSU, cpu, ram don't really account for much. So lets say $600 a GPU. That is crazy expensive since this GPU when new was $250.

So when the mining fad is over and you want to liquidate your GPUs, you won't get much in the second hand market. I think they were going on Craiglist for $120 before Covid and before Ethereum starting to pump. I wouldn't buy that rig.

Thanks for your reply. If you take in consideration that the market here in Portugal is different, and things are always more expensive, do you maintain your opinion?

adaseb

legendary

Activity: 3808

Merit: 1723

POW doesn't end in July, only the miner rewards will be less. Nobody knows how the profitability will be back then. Even right now an entire week can make all the difference. A week ago we were at $1300 and now we are at $1800 again. Price is very volatile and the difficulty keeps climbing.

In my opinion I wouldn't buy 3500 Euro because its like $4200 USD for a rig which has GPUs which are 5 years old. At $4200 that's about $700 for a GPU. The motherboard, PSU, cpu, ram don't really account for much. So lets say $600 a GPU. That is crazy expensive since this GPU when new was $250.

So when the mining fad is over and you want to liquidate your GPUs, you won't get much in the second hand market. I think they were going on Craiglist for $120 before Covid and before Ethereum starting to pump. I wouldn't buy that rig.

smax303

newbie

Activity: 19

Merit: 0

Hello. I'm from Portugal, if that matters.

So, here's the thing. I have 2 Bitmain S9 miners in my basement. Right now, I can only turn them on at night, mainly due to the heat they make and the noise also.

I have about 3500€ available to spend on a rig. I'm looking at one with 6 RX 580 Sapphire 8GB Nitro and the price is 3500€ and I'm looking at a 1660 rig with 6 cards, just a bit more expensive at 3700€.

Electricity is free so no worries about that. What I'm concerned is what's going to happen in July and the fact that POW is going to end.

From my calculations, it seems I should hit ROI on the rig in about 7-8 months. Not in time for July.

So, questions... Is this worth? What will miners turn to once POW is over? RavenCoin? Will the profits be about the same, less or more? I know it's always speculation but there should be consensus here about that.

Another thing, I use Nicehash. Using that, should I even be worried? I mean, doesn't NiceHash mine whatever coin is more profitable with the hardware you have?

And last but not least... Do these rigs make a great amount of heat and noise? I don't mind having a fan or two pointed at the rig, but it cannot be as loud as the S9's, otherwise it's not really worth it.

Thanks and sorry for the n00b questions.

Topic: Some questions, a dilemma and confusion... (Read 166 times)