I think new miners focus too heavily on upfront cost as compared to how long it will take to pay off the gpu from mining. You also need to consider resale value. If you can afford high-end gpus they are often a better buy if you take into account resale value. The 1080ti, despite being a pretty old card, is still an in-demand card on the secondary market because you can get 2080 levels of performance on most games for less money.
So I suggest the following calculation. Calculate the payoff period for the lowest end gpus you're considering (e.g. 580/1060). These likely have low or negligible (scrap/spare parts) resale value. Then calculate how much you would earn in that time from a higher end gpu, and add 50% of the price of the higher-end gpu to those earnings (50% being the likely resale value). I bet the higher end gpu ends up a better buy.
For example:
RX580 purchased new currently takes about 5.4 years to pay off by mining eth.
RTX2080 purchased new will earn roughly $410 in 5.4 years by mining eth. Selling to a gamer for half price ($400) leaves you with an extra $10.
People who bought 1080ti's for mining are generally doing pretty well. They can mine on them as long as they're profitable or sell them for a reasonable return. But there isn't a strong secondary market for 480/580.
You also need to account for the fact that higher-end cards are typically more versatile and powerful for mining other algorithms (especially higher-end nvidia cards). For example, the RTX2080 can mine e.g. x16r or timetravel or progpow very well. At current prices, you could pay off a 2080 in a little over three years by mining alternative algorithms. That's a lot better than the rx580's 5.4 year timeframe.
I'm starting to look at it is way. I started 2 years ago and bought all my cards right before the boom and I'm surprised at how much value my Navidia cards retained. I assumed after a crash they would be almost worthless. I'm looking at replacing my cards, with .049 electrical cost and high resale the risk isn't as big as one would think. I'm trying to calculate which 2000 series card has the best potential. Best bang for your buck seems like the 2060 or 2070 but 2080 or 2080 ti might retain more resale value.
So true , but anyways it's really depends on our capabilities which and which cards to use. If we are planning for longterm hold of the coin we mined or we are going to liquidates as soon as we mined them. Big consideration is our electricity cost , so it's okay to buy any cards which you prefer to buy depending on your knowledge and target. Have a good day everyone.
