7970 still relevant?

[iTiamo]

Hey,

I have the opportunity to buy a system with 2 7970s in it for $300. I want to use that for mining altcoins. Is it still profitable for me to do that? My electricity is really expensive, around 20 cents per kWh. It seems to me it will be around 9 months to break even?

What do you think?

[adaseb]

No you should buy either RX 480/ Nvidia 1060/1070 if you pay that much for electricity.

[Wind_FURY]

No you should buy either RX 480/ Nvidia 1060/1070 if you pay that much for electricity.

Why? What is the difference? I think I pay for the same rate of electricity so I am interested. Do you know a guide or website where we can learn a little bit more about mining?

[adaseb]

7970 will use exactly double the power as a 480

[iTiamo]

Yea, that requires a bigger investment though. Someone is sellin 2 7970s for $75...

[Amph]

Yea, that requires a bigger investment though. Someone is sellin 2 7970s for $75...

yeah ok, but remember this

the 7970 when you sell it again it will be worth $50, if you can ever dream to sell it again(no one will buy it)

a 480 can still be worth $200 in 6 months or more, that is the big difference

you only need to roi on the difference between the purchase price and the resale price, not the whole initial investment

[antantti]

Yea, that requires a bigger investment though. Someone is sellin 2 7970s for $75...

yeah ok, but remember this

the 7970 when you sell it again it will be worth $50, if you can ever dream to sell it again(no one will buy it)

a 480 can still be worth $200 in 6 months or more, that is the big difference

you only need to roi on the difference between the purchase price and the resale price, not the whole initial investment

Amph please, you can sell them $100 each, instant roi. There is always a buyer for an old gpu.

[Amph]

Yea, that requires a bigger investment though. Someone is sellin 2 7970s for $75...

yeah ok, but remember this

the 7970 when you sell it again it will be worth $50, if you can ever dream to sell it again(no one will buy it)

a 480 can still be worth $200 in 6 months or more, that is the big difference

you only need to roi on the difference between the purchase price and the resale price, not the whole initial investment

Amph please, you can sell them $100 each, instant roi. There is always a buyer for an old gpu.

not gamers for sure, only other miner, with new gpu you have a vast range at whom you can sell

also if it was really possible to buy at 75 and sell at 100, then mining with those would be pointless, see where i'm going? just sell them and repeat, this is why it can't be true that they resale value is so high

[antantti]

Yea, that requires a bigger investment though. Someone is sellin 2 7970s for $75...

yeah ok, but remember this

the 7970 when you sell it again it will be worth $50, if you can ever dream to sell it again(no one will buy it)

a 480 can still be worth $200 in 6 months or more, that is the big difference

you only need to roi on the difference between the purchase price and the resale price, not the whole initial investment

Amph please, you can sell them $100 each, instant roi. There is always a buyer for an old gpu.

not gamers for sure, only other miner, with new gpu you have a vast range at whom you can sell

also if it was really possible to buy at 75 and sell at 100, then mining with those would be pointless, see where i'm going? just sell them and repeat, this is why it can't be true that they resale value is so high

Once again, you don't know what you are talking about. csgo.

[Amph]

Yea, that requires a bigger investment though. Someone is sellin 2 7970s for $75...

yeah ok, but remember this

the 7970 when you sell it again it will be worth $50, if you can ever dream to sell it again(no one will buy it)

a 480 can still be worth $200 in 6 months or more, that is the big difference

you only need to roi on the difference between the purchase price and the resale price, not the whole initial investment

Amph please, you can sell them $100 each, instant roi. There is always a buyer for an old gpu.

not gamers for sure, only other miner, with new gpu you have a vast range at whom you can sell

also if it was really possible to buy at 75 and sell at 100, then mining with those would be pointless, see where i'm going? just sell them and repeat, this is why it can't be true that they resale value is so high

Once again, you don't know what you are talking about. csgo.

sure, as if I had not done in the past, i was here instamining the shit out of this place, long time ago, i instamined every shit coin in 2013-2014, i can assure you that i know what i'm talking about, i took a rest in 2015, only because singature campaign was paying me 0.07 a day

but this is still the same place as it was in those years

[antantti]

blaablaablaa...

Street price for 7970 is 90-100€, gtx 660 is in 60-80€ area. Buying and selling them night in night out.

[Amph]

blaablaablaa...

Street price for 7970 is 90-100€, gtx 660 is in 60-80€ area. Buying and selling them night in night out.

they are bad in any other algo which is not ethereum, and they consume a lot, 480 is vastly better on etheruem and will hold its value for a long time, no matter what will happen to the mining scene, due to gamers have high interest in them since they are brand new

[QuintLeo]

20 cents/KWH?

 Realistically, don't even bother THINKING about mining unless you move to an area with REASONABLE electric cost, or preferably very low electric cost.

 You'd have a hard time making money even with current EFFICIENT cards like the RX480 or GTX 1xxx series.

[klondike_bar_recovery]

20 cents/KWH?

 Realistically, don't even bother THINKING about mining unless you move to an area with REASONABLE electric cost, or preferably very low electric cost.

 You'd have a hard time making money even with current EFFICIENT cards like the RX480 or GTX 1xxx series.

IMO the best bet is the GTX 1070 at $~500USD after taxes. its a bit more efficient than the rx480 and capable of much broader range of currencies such as ETH/ETC (~26MH in linux only for now, about $4/day), VTC (38-40MH, about $3/day), and LBC (230-260MH, about $6/day)

it is the newest 16nm process and uses about 150W from an 8pin connector. Resale value should be pretty good, and there wont be any major improvements (besides maybe 20% efficiency boost from tuning/undervolting in the eventual 11xx series) over it until <14nm gpus arrive in 2-4 years.

I figure that it will take ~100 days to mine enough that you could resell it and break even. 200-250 days and you'll pretty much have a free GPU. (based on 12c//kwh, at 20c/kwh it may be more like 150days and 300days respectively)

mining with a comparable hashrate of older cards (such as 2x gtx970 or r9-290) may save $300 upfront, but the resale value will drop off quicker and you'll find yourself paying about $8/month extra for electricity and filling up twice asmany pci slots

[Amph]

20 cents/KWH?

 Realistically, don't even bother THINKING about mining unless you move to an area with REASONABLE electric cost, or preferably very low electric cost.

 You'd have a hard time making money even with current EFFICIENT cards like the RX480 or GTX 1xxx series.

not really true, playing with the 1070 it's like having your electricity cut in half, in comparison with old gen

also currently there are very profitable coins, so profitable that even at 0.5 cent you would make a good profit

[AmoreJaz]

in my neck of the woods almost any coin is profitable.... while having a nice solar system setup with a wind generator also i am building a very functional set up off grid that i can use even the very cheap old asic's  and run a great profit and a roi that is almost unheard of and even the old GPU rigs are profitable

[64dimensions]

Some comments:

1) Agree with previous poster(s) that a new NV card is the way to go. Resale will hold up and very efficient.

2) Original owner of 3 ASUS HD7970's. If you own older cards, be prepared to do your own maintenance. The 7970 is definitely an older card.

a) Two of the above cards within the last couple of months had their fan set replaced because one fan bearing was going bad. $20 for the fans on ebay plus your labor.

b) On older cards be prepared to renew the thermal grease. Within the last several months all 3 underwent this procedure.

3) Condition: It's difficult to tell when a fan is going bad even when it's powered. In my case one card had a slight vibration and running hot and in another case the particular card was just running 5 - 10 C hotter than the other 7970's.

To put it bluntly, just get a new NV 1070.

[adaseb]

I am pretty sure most 7950/7970/280x are at the bottom of the depreciation curve. You can almost buy one and sell it almost at the same price.

If you read any reviews or looked at any gaming benchmarks for most games the RX480 is at most 50% faster. I highly doubt a R9 280X will be selling for $50 anytime soon.

[Amph]

in my neck of the woods almost any coin is profitable.... while having a nice solar system setup with a wind generator also i am building a very functional set up off grid that i can use even the very cheap old asic's  and run a great profit and a roi that is almost unheard of and even the old GPU rigs are profitable

green energy is too expensive in my opinion, with the money you spend in green energy you can simply buy another rig and do much more with your earnign than saving

[AmoreJaz]

in my neck of the woods almost any coin is profitable.... while having a nice solar system setup with a wind generator also i am building a very functional set up off grid that i can use even the very cheap old asic's  and run a great profit and a roi that is almost unheard of and even the old GPU rigs are profitable

green energy is too expensive in my opinion, with the money you spend in green energy you can simply buy another rig and do much more with your earnign than saving

i actually dont like calling solar systems "green" i live in a place where the bills are terrible so making that system is also for house hold use,
the reliability is also part of that reason because here in the Philippines black outs and brown outs are a everyday  thing, over building the system allowed me to use the excess  for mining so its a big win for me.