Bitcoin Forum

Hi guys,
We bought 24 -- R9 280x cards and by the time we got them the difficulty for Litecoin went so high.. and we haven't use them since then.. also no one would buy them in my country even half the price.
I was wondering if can do any mining with them that can worth the effort.. is that any good GPU mining still out there?

Would be great if you can help me out

Thanks

The "it is what it is" statement of these times is that noone is going to give up their personal cashcow coin.  A couple months back when there were fewer miners and more profit to be made, these types of questions were more directly answered.

What it comes down to is that if it's my ROI vs your ROI or my profit vs your profit, i have to look out for my own.  I say this not to be a jerk, but i see these posts all the time now and i have to shake my head.  I don't typically respond to them (this is one of the first), but i feel the need for frankness concerning the truth here.

That being said, the altcoin section of this forum is all you need.  The other thing you need is basically free rent / electricity, so hopefully you have that working for you.

Good luck  :)

Sadly with that amount it will take really cheap electricity to mine for profit.  With removing heat, and powering GPU's it is hard now days for most to be profitable.

I sold off my GPU's and went with scrypt asic.  Much more efficient on electricity and I can mine with profit. 

I would cut loses and sell cards myself, unless you have very very cheap electricity.

I've found some tiny backwater multi algo coin that keeps hitting min diff for scrypt, been doing 100k sat a day or more, yeah not a lot, but using only 75kh scrypt, and even that sometimes brings the diff back up, I actually need LESS power on it to make more. Actually tempted to get a dualminer USB for like $12 just to use on it, but I hear those burn out quickly a lot.

you bought too many , you should have started with a few and then increase with the profit that you could have made

Terrible planning. You should have run your numbers before buying such a large quantity.
Your only hopes at this point are:

• keep on mining and hope the price will go up: I can tell there are some alts for which running costs are almost on the same order of magnitude as the produced coins;
• try super extra hard and get the (very likely to exist) elite kernels for the coin of your choice - good luck at that!

Given your initial investment, terminating mining operation just because of the running costs is basically nonsense. You have made your bet already.

which country are you from? If u happen to be close to me I can buy them..

How much are you asking for your cards ?

Just wait, you can use them soon again ;) #NeoScrypt

^+1
And perhaps Lyra2

LOL ! You should really plan your investments a "little" bit better in advance. If your electricity is cheap, then mine monero. I think this is the only coin/algo that can give you a ROI. Everything else is pretty much throwing money out of the window.

Keep in mind the card will go down in value as you are mining.  At some point you have to cut your loss.

Without knowing your electricity and cooling I cannot say what is best.

You got no choice but to try hard to sell it, the price is dropping each day as we speak.

It is sad but true.  There are many lucky gamers out there getting cards very cheap (if they have not been push to hard).

Some advice on selling include copy of invoice and you will get a little more it seems if your still in warranty with your brand.

More importantly, how much is your electricity cost/kwh? If its low enough you can try mine and get some profit out of it.

You can still use them to mine some cryptonote coin, see e.g. Minergate (http://bit.ly/1l6hUPe) (they also have profit calculator).

I though minergate is only for cpu mining and not gpu?

you made the big investment already now you only risk the costs of electricity .
even if the cost is high it is worth the risk since you already paid for the gear and no one will buy it as you stated ..
as i see it this is the smartest move
try selling it bit by bit to reduce your risk not at less then 50% of the cost however meanwhile keep mining try to focus on new coins that look promising and wait for the next price rise if it will come ..

good luck man i joined the mining game late like yourself however with a couple of smart investments in the right coins i managed to almost reach my ROI .

Now theier new GUI miner includes also GPU mining of cryptonotes, but I don't know which GPUs are supported. They also support external GPU miners though.

Use the site coinwarz . It will be of more help then generic answers you'll get from here.

Neoscrypt looks promising.

I'm also working on a GPU miner for a new coin coming out that could be worth it.

It's possible that GPU mining will become profitable again in the near future, if you can afford to hold on to those cards a little while longer.

Try to only bring your miners up when needed and get into coins at launch. This way you can accumulate a lot of coins really quickly. This is totally a gamble but if even one of the coins you pick gets pumped you could be in for a windfall. Pick wisely, though. I have had a few I got in on early, got a bunch of coins, and they were quickly proven to be scams. Wasted electricity.

I took the advice of others and started small (2x R9 270s.) Got the rig about 2 months ago. Considering selling it now. HOWEVER, I got into CannabisCoin a day or two after it launched and mined a bunch of it. Now that it has pumped I have easily paid for my rig, electricity spent, and pocketed some cash. Off of one coin! I wish I would've used this strategy early on, before wasting my first few weeks mining scrypt and other high difficulty coins. My electricity is NOT cheap :(

everyone is mining cryptonight and from what I can see that is most profitable unless you get lucky with timing on some X-? coin.  I'm just wondering what the next big thing will be.  Should be some new gpu's coming out soon that are more cost effective for power.  but if coin prices surge than the equipment doesn't matter as much.  The more financial market share crypto takes the more value there should be.  But eventually big businesses will make their own mining farms and it will make coin mining by the lay person or even the person with 24+ gpus pretty irrelevant.  That's 'if' and 'when' of course.

maybe the future is hard disk mining, better to watch now and not cry later

Hard disk mining is too easily abused, I dont think so.

there is a limitation in memory, you can't really abuse it, if you mean using tons of hard disk with one rig, and at least the consumption is far lower

And easily centralized.

Nonetheless, with HDD prices slumbering and the very easy latency requirements, I suspect spinning-platter storage manufacturers might want to jump on that.

Perhaps I could use my ARC1230... with the mainboard that should give me 20 HDDs per rig and I have extra PCI and PCIex slots available... still nothing compared to whoever can afford a SAN...

I'm still not sure what have to do yet.. I'm getting electricity for next to nothing so that is not an issue.. but something worth to put them in work... Any interesting coin to mine?
it seems the country I'm from (Iran) selling them is not a great option though :/

Hello Hannan,
my country is severely limiting free market in various ways so I cannot neither buy nor sell cryptos.

As a result I'm interested in cryptos for the future value that might provide to me as an user.
I'm currently mining MYR. Perhaps I will do some Digibyte, VTC and Monero in the future.

At .14c/kWh my operating costs are more than twice as the value of generated coins but considering we're talking about 1€/week, I still think this is the best way to get some without going through the legal minefield that's my country nonsensical legislation and I think those coins hold considerable potential.

Thanks, so what is the best algorithm to do with GPU right now?

they said monero, xcn also isn't bad

Monero.  8)

The profit seems to be as bad for mining monero.

Correct.  Profit on monero with current (public) miners is nil with current GPU / CPU performance.

I can tell you/anyone this much: noone is giving up their cash cow coin.

Nice, there is a secret miner that can mine like 10x the speed?

It is possible there is a GPU cryptonight implementation which is much faster (4-8x faster) but we can only speculate about it.

Anybody care to share? :P

They don't and to be completely clear, they have no reason to.  GPL violations are tolerated here as well as imposed fees or modified servers so you can only mine to them... you can see a few examples live now on this forum.

So here is the question, what people do with their GPU's right now?

Shut down the gpu miner and sell it.. Best solution right now..

Well,yep, it's better to sell it as in the race for faster miner you spend more than you earn on mining coins.
I think it's profitable to mine with gpu for corporations only. Alternatively, it's possible to mine coins that have just been created so the h/r is low and than sell it in a right time before it become unprofitable to mine it.

Guys, if you have very cheap electricity and would still like to keep GPUs running you can point them at NiceHash.com (http://NiceHash.com) multi-algo ports ... they will automatically switch among some of the most profitable algos (set by hashing power buyers) and could bring you some profit.

Yup, but even I have really cheap electricity, it is hardly profitable. :(

Wait for the winter ...  ;D

How does that help?

Mining produces heat => warm room => profit covers power costs to heat the room

(needs very cheap elec, of couse)

New generation GPUs will be launched soon and price of current gen cards will fall and more loss will occur if GPUs are sold later. Better sell them now as mining profitability on GPUs is pennies.

Very optimistic view on counting the costs of mining  :D
I have a very cheap electricity but even for me and my PC it's hardly profitable to mine with GPU. No doubt GPU mining is dying and there are less people who'd like to spend a lot of money on the gpu miners/ graphics card/ electricity / etc

Sell your GPU before the next generation comes..

Already done it. I don't see the point to buy the last gpu miners unless you are a geek who like hardwares and mining coins and, maybe, who are willing to optimize the miner.

I was thinking the next generation coins has already come. What is in your understanding of ''second generation''???

Next generation gpu is coming, GTX 980 and R9 390

Unless you have very low cost electricity, these new cards will not ROI.

I'm inclined to agree. NV will have a wattage advantage ... and charge in advance for it.
AMD will be cheaper but will run hot. Operating costs will be higher than the NV counterpart.

I still expect most coins to go up in value this winter.

BTW, highest end is nonsense for mining as far as I'm concerned.