If block rewards are cut that much mining is over.
Yeah, they have eips for both the fees and reduce block reward and if eth 2.0 iws released then half reward will be for pos users and half for miners, hybrid. that is why miners who will survive the next culling need x2 hashrate to stay alive. 1080ti to 3080 is an example. those who have low hashrate card but do not have physical space to add more cards and those who do not have electrical space to add more load will be the first to go. if eth is no longer profitable to mine, the eth mining reliant cards (amd) will be on life support. 3080 cards (nvidia) that will do well on other algo will do better than others hehe You need cheap power, once eth is done theirs so much GPU power no matter how much power you have your margins will be very thin. I have 135 gpus started in late 2016, 90 of the gpus are almost 4 years old. Not sure what I'm going to do. The bright side of gpus is they maintain their resale value. Pretty amazing I can sell my 1070s for over $100 and I paid $340 for them over 3 years ago. |
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at 133.33mhs x3 card rig will be 400mhs. comparable to x4 3080 rig, but much expensive. not worth the density vs x4 3080.
but if you think about it, it is still better purchase than "500mhs eth asic is 4689$ at 750w" hehe
I do prefer the 3080 cause the gddrx6 on the 3090 is the same memory slightly binned, everything is better than asics because in the end has resale value and can mine other algos. ETH will soon halve the fees and mining rewards per block and then the 0.75 cents of usd per gpu today with the rx 570 will become 0.15 cents of usd or less per day per gpu, gpus are so expensive to a point mining already lost 50% of its income, if it was before 2016 you could buy a rx 5700 nowadays for $180, no joking, that is how used to be, gpus like the 3080 would be $499 and 3070 around $300. Yeah, it seems nvidia and micron wants to clear inventory of bad binned gddrx6 memory then they will use better ones in few months. If block rewards are cut that much mining is over. |
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ps. Still on the fence about selling my GTX 1000 GPUs. Made almost $160 with them yesterday...
I'm in the same boat, I have 130 gpus half GTX 1000 GPUs. Temping to replace them with RX 5600 xts, I could increase my revenue a decent amount and not raise my electrical cost. I'm maxed out on a 100 amp 240 line, so its increase efficiency or find a cheaper place to host the 1000 series GTXs and add the new cards to my farm. How long will the 1000 series cards be profitable? |
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Some of you guys are missing a point, the 3080 is very close to 5700s and Radon VIIs on efficiency BUT I would guess it can do a lot better on other algos then the AMD cards and retain a higher percentage resale price.
I have 130 GPUs and half are 5700s and half are the 1000s series NVIDIA and 500-400 series AMDs. I plan on replacing all the old cards with the new 3000 series if AMDs new cards aren't better then the 3000 series.
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I found this beast on youtube review >> https://www.youtube.com/watch?v=A6sbW6H5jCg What do you think about this gpu, the reviewer got 45MH and he told that if the official driver will become available, it will get the 100-120MH per card and the power consumption is so cool, it has only consumed 65w. Its $1,900 your roi is years, plus the I wouldn't hold my breath for better drivers they always say that. $1900 is 7 RX 5600 XTs at 280 mh. |
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Need to see other alogs, slightly less efficient then a 5700 on eth but density is a winner and I would assume much better on other algos.
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I really like the 5700s but 90% of my gpus are 3 years old. It would be nice if performance was twice as fast as the 5700s, but I would want to see how they preform on other algos. Eth is great but for a large investment I would need more then one algo.
It is funny you say 5700s as you own one correct? After seeing others doing the xt bios modification. I just noticed even though you are able to bios mod the 5700 cards to xt clocks it does not affect the hashrates at all.  I have 18 rx 5700s and 5700s XTs and haven't tried bios modding any of them. I think you can get a little more hash rate but I don't want the possibility of unstable rigs. i'm getting 51-52 MH/s around 110 -120 watts and they can get 1.1h/s on G31. 18 each of rx 5700 and 5700 XT? I'm planning on getting 18 pcs of 5700 of non-XT too, based on brand what is the best for you? is it true Powercolor is the 2nd best next to Sapphire. Since that post i have about 30 now and bios modded some. The blower cards are the best card they run cool and have very cool memory temps and consume less power but I don' think they make then anymore. I buy open box what ever they have and I can't tell a difference between brands. |
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There is no right answer when is the best time to get into mining. When I started back in 2014... it was also a risky time. Basically its when BTC peaked and its around the time that ASICs for Litecoin came out and mining profits were brutal. Basically if I recall an R9 280X, the best mineable GPU at the time was pulling in about $5/day. Then a month later it was like $2.50/day, then $1/day, then $0.50/day to pretty much losing money. Basically with a retail price of $400, I think some ROI and some didn't.
However I kept the gear and reused it for mining ETH later in 2016. I honestly think 2016 was the best time to mine because it was profitable... but not too profitable where GPUs get sold out everywhere.
2017.2018 sure was more profitable however it wasn't "that" profitable for long. Basically GPUs sold out everywhere, so you couldn't expand your farm. And the days of making $5-10/day/GPU were sort lived. So when you are buying a $1000 GPU, even with a $10/day/gpu, would still take 3 months.
Its like a ll business adventures smart money wins and a huge amount of idiots but high and sell low. Buying gear to decent prices and low electrical cost are key. I've been mining since late 2016 120 gpus and various ASICs and they paid off long ago and now its all profit after electrical cost and expansion cost. I also hedge my mining profits so price swings are less of a problem. |
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Thanks for killing the profits, they are now less then half of what you posted.
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I ordered one from coinminingcerntral, I'll let you guys know when and if it arrives, lol.
I ask .... but coinminingcentral not send you the certificate of conformite and all the documentation for the custom ? Because i see with various asic miner the risk for reject at the custom if you don't have the certificate of conformite...... I've haven't had problem with them in the past, every miner I ordered made it through customs. |
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Anyone serious about mining can also hedge their mining with eth or btc futures when you think a bull run is over. They also have BTC hash rate futures, which would make a good hedge. If I hedged back in 2018 & 2019 my profits wold have been much more steady, 2019 would have been better.
If mining becomes popular again and microcenter is packed with people be ready to hedge.
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. Rental properties is much more lucrative than mining. Good properties appreciate in value with time.
Yeah but I still think buy and hold give more money than anything else by many many times and eth will soon be staked which means like rental property, you will also get money from it while is appreciating in value over time. My rigs have been running for over 3 years and I'm just started to sell cards to refresh. If you have low electrical cost and don't buy over priced cards you'll do fine. My electrical cost is low and I bought my cards open box or refurbished before the craziness in 2017 and 2018. I'm selling my 1070s and replacing with rx 5700s. I'll sell my 1070s for around 190-220 on ebay and buy refurbished 5700s XTs for around 339. After I sell a 1070 and pay taxes and fees I'm paying 150 for a rx 5700 xt. I also hedge my earnings, sell short btc or eth in a down trend. |
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My RX 5700 XTs are getting 24.8 on RVN with team red miner, that is 2080 territory very impressive.
How can you achieve this hashrate? I tested here and max I get is 20.4 with team red miner, but with a very high power, with the same card (5700xt Gigabyte OC Gaming) I do 54.5mhs on ETH 120watts on the wall I'm running SIMPLE OS with 1400 core, 885 mem and 812mv. They use around 131 watts https://ibb.co/Dky6vJ9 |
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My RX 5700 XTs are getting 24.8 on RVN with team red miner, that is 2080 territory very impressive.
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In any other business a 2 years to break even would be considered great.
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raven fork still doing well.
1660ti is good as it is cheap
rx 5700 is very good but cost more.
Using Team Red Miner 5700s are a beast on RVN, 25 MH/s on my 5700 XTs. |
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I have about 20 RX 5700s, they are great cards also good at C31 and KAWPOW. RVN is now more profitable then eth on the 5700s with Team Red miner. 24.81 MH/s on a RX 5700 XT. That's RTX 2080 speed for almost half price.
I wouldn't touch the ASIC with the threat of ProgPOW.
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