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blg42598 (OP)
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June 19, 2016, 08:32:36 PM |
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Still worth buying GPUs? With Ethereum mining getting tough. Can we hope for another profitable coin?
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limbaugh
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June 19, 2016, 11:43:58 PM |
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Still worth buying GPUs? With Ethereum mining getting tough. Can we hope for another profitable coin?
Borderline insanity to buy mining hardware at this point. Most new coins are moving away from Proof of Work anyway - including Ethereum. |
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Tmdz
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June 20, 2016, 03:05:07 AM |
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The quick answer is no.
It seems to be a downhill ride for now, when ether gained massive value we had a pretty decent future but it came crashing down. When I went into mining and buying up some gpus I tried to position myself to have more value in the hardware than I owed (altho there is the sweat period where you own more until you mine enough). Basically I went into this knowing that some big event could happen that could quickly end profitability. While there is still profit to be made it is becoming less everyday and there are no coins large enough to soak up the huge amount of gpus in circulation.
But if you have cheap enough electricity and don't mind taking a good amount of time to roi on your gpu then it could still make sense to pick up a few of the 480's that are very efficient. There is always the possibility that a coin or either could rise to new heights.
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blg42598 (OP)
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June 20, 2016, 03:45:34 AM |
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I was thinking of making 2 rigs of RX 480s, either 10 or 12 GPUs in total. Just mine profitable coins or coins that look promising in the future even if they aren't the most profitable (Ex. Decred). My electricity is around $0.09/kwh. Is that electricity a good price for mining? Seems around medium. I have another house I where I could set up for $0.04/kwh.
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PovertyByte
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June 20, 2016, 03:50:20 AM |
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Electricity is covered in the university dorms, and I plan to get a 480 to begin with. Just hope the coins do not become too difficult too soon.
I just need to figure out what to mine. I get the sad feeling that Ether will not be worth mining (at home) after 2 weeks when the card arrives, or if it is it will quickly get mined up by the 480's
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ps_jb
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June 20, 2016, 04:20:36 AM |
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I just need to figure out what to mine.
And don't be shy to share it with 1-2M miners with GPUs |
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Amph
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June 20, 2016, 05:35:07 AM
Last edit: June 20, 2016, 11:18:41 AM by Amph |
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it always depend on your electricity, with 0.05 there is no reason to stop mining
but even with expensive electricity is still profitable, you need to factor the fact that bitcoin has a very high value now, so the profit is actually greater than before
etheruem halved but btc doubled, same shit in the end
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Quartx
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June 20, 2016, 05:37:28 AM |
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You can always mine some new pump and dump shit coin, gpus are always worth it
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bitwhizz
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June 20, 2016, 09:52:09 AM |
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depends on which coin?!
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Wexlike
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June 20, 2016, 10:53:38 AM |
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it always depend on your electricity, with 0.05 there is no reason to stop mining
but even with expensive electricity is still profitable, you need to factor the fact thta bitcoin has a very high value now, so the profit is actually greater than before
etheruem halved but btc doubled, same shit in the end
Difficulty increased. |
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Amph
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June 20, 2016, 11:19:08 AM |
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it always depend on your electricity, with 0.05 there is no reason to stop mining
but even with expensive electricity is still profitable, you need to factor the fact thta bitcoin has a very high value now, so the profit is actually greater than before
etheruem halved but btc doubled, same shit in the end
Difficulty increased. yeah in fact etheruem is not the most profitable anymore, because of that also not onyl the price decreasing |
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Psynthax
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June 21, 2016, 02:07:41 AM |
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go for it if you have cheap or free electricity and extra money to invest in..
there will always be something to mine.. besides you can sell the gear and get some of the money back..
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JarBinks
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June 21, 2016, 02:34:47 AM |
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I was thinking of making 2 rigs of RX 480s, either 10 or 12 GPUs in total. Just mine profitable coins or coins that look promising in the future even if they aren't the most profitable (Ex. Decred). My electricity is around $0.09/kwh. Is that electricity a good price for mining? Seems around medium. I have another house I where I could set up for $0.04/kwh.
With electricity @ .09, the margins will not be large but your setup sounds promising. You may want to pay investigate algo switching and/or coin switching pools to maximize the profitability of the rig. There are lots of people doing some awesome GPU rigs, in this forum, and your sounds like a good one. Good luck. |
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bitwhizz
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July 26, 2016, 08:21:18 AM |
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It is still worth buying GPUS, Surely?
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limbaugh
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July 26, 2016, 01:36:56 PM |
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It is still worth buying GPUS, Surely?
Always better to buy coins. PoW is dying off quickly. Never buy hardware to mine for profit.. |
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Amph
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July 26, 2016, 02:00:17 PM |
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It is still worth buying GPUS, Surely?
always just now you can do 0.13 btc per day with a rig of 6 x 1070, just saying... approaching roi of one month, pretty crazy... |
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Ultrabat
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July 26, 2016, 03:06:16 PM |
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It is still worth buying GPUS, Surely?
always just now you can do 0.13 btc per day with a rig of 6 x 1070, just saying... approaching roi of one month, pretty crazy... Which coin do you mine to get such a high return of investment. I thought ETC would not give you such return. |
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Amph
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July 26, 2016, 03:55:54 PM |
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It is still worth buying GPUS, Surely?
always just now you can do 0.13 btc per day with a rig of 6 x 1070, just saying... approaching roi of one month, pretty crazy... Which coin do you mine to get such a high return of investment. I thought ETC would not give you such return. yeah it's ETC right now, it's fucking profitable, nothing else come close, but i guess it will not last even one day |
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spyshagg
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July 26, 2016, 04:19:37 PM |
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Such a glorious day, I'll take it.
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Za1n
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July 27, 2016, 03:19:24 AM |
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Yes, it has always been profitable to by a GPU to mine ever since you could profitably mine BTC with it. Another truth is since that time people have also been giving advice to new users that they missed the boat, it's too late, etc. Considering most of them are miners themselves, it is not surprising they do not want to encourage more competition.
Now with that said I will point out that at times the profits get really slim, and depending upon your electricity rates may even temporarily dip into the unprofitable area and you may need to shut your miners down for periods of time. I mined through the 2015 winter at slim margins, but it was somewhat offset because I also used my miners to heat my house, which would normally cost $200/month, so in some sense it was free power in that I would spend $200 on heat either way. Now it actually worked in my favor as I was mining Ethereum most of that time before it spiked, so in the long run I made out handsomely, but you should not count on that type of luck all the time.
All in all I think anyone buying a GPU at any point over the past 5 years would have made profit, as it seems there is always a new coin or algorithm introduced to replace the ones that die off or go asic. Some months you may only be making a few dollars or cents per GPU profit, but then it seems every 6 month or so something new hits where you can hit hardware ROI in as little as 30 days.
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