Buy GPU now or wait till new ones are out??

[maggotminer]

I know I might be late into the mining game, but I would really like to get into it, since I have been researching so much about it lately.

Problem is that my GPU of choice(RX580), I could not find much info about whether to buy them now is a good option or not.

The deal breaker for me are the following -

1 - Already I am late at the game, so buying these GPUs, according to my calculation if I buy 20, it would take atleast 1.7 years to break even on hardware after elec costs(if I only mine Ether). Now, by then I guess these GPUs will be less efficient sinse newer cards are coming out thsi year.

I am very confused about what to do regarding this. Also maybe another factor contributing to this confusion is, how long should I plan on running these GPUs before upgrade?

[1715343793]

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[1715343793]

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[1715343793]

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[hustleman]

Well there are new GPU's out already... Radeon VII,  RX 5600 xt, RX 5700 & XT are already available and are more efficient.  Difference there being you will spend roughly $300-$400 on a new or used RX 5700.  They will get you 52mhs using about 115-125watts.  The RX580 can be purchased for $100 used on ebay or you can buy them new for $170-$200.  After bios flash you can obtain 30-32mhs using about 110-125watts.  So you can do the calculations there.  Another thing to consider is Ethereum Devs just announced they are going to change the network algorithm to Progpow some time in July 2020.  Now ETH devs are notorious for giving announcing dates for the changes to the network but falling short on meeting those deadlines.  They have pushed many network protocol changes deadlines to later dates.  So you can double check benchmarks for Rx580 on Progpow, but from what I remember they don't do very well mining that algo.

Nvidia cards are also available and better at mining other algos than ethash.

Good luck!

[maggotminer]

So I have drilled down to some cards and I found the following options from a supplier overseas-
a)1060 6GB~ $140 - $160 (new 3 yr warranty)
b)1080ti 11GB~ $500 - 450 (new 1yr warranty)

So basically I can spend about 3k on cards resulting in - either 6x1080ti or 20x1060

i used whattomine to check which coin is best for the above cards, and seems like ROI on the 1080ti are bad, however the 1060s will take 1.5 years

is this normal? or am I just too late, which is why its bad for me?

What do you guys do. same as above?? use a profit calculator and mine the best coin? are your ROI on hardware around similar time as mine?

Am I missing something regarding mining.

[rdluffy]

So I have drilled down to some cards and I found the following options from a supplier overseas-
a)1060 6GB~ $140 - $160 (new 3 yr warranty)
b)1080ti 11GB~ $500 - 450 (new 1yr warranty)

So basically I can spend about 3k on cards resulting in - either 6x1080ti or 20x1060

i used whattomine to check which coin is best for the above cards, and seems like ROI on the 1080ti are bad, however the 1060s will take 1.5 years

is this normal? or am I just too late, which is why its bad for me?

What do you guys do. same as above?? use a profit calculator and mine the best coin? are your ROI on hardware around similar time as mine?

Am I missing something regarding mining.

I would suggest another GPUs for you, RX 580 was an excellent choice some time ago, and if you already have that card it's ok to keep mining, but to buy now, you have to chose more efficient cards
A nice card to keep you prepared for future is 1660 TI, take a look

Consider the fact that ETH will change their network and it's best to have a card that can mine another kind of algos

Here is an excellent article to read: https://cryptominertips.com/mining-hardware/best-gpu-for-mining/

[Wotan Wipeout]

At the moment there is a risk of ending ETH-mining.
I would go for a flexible GPU. That means Nvidia, mining GRIN.
Overall you should look for 8GB Nvidia cards.
The new ones (20xx) start with the 2060 super.
These have got a lower power consumption compared to 10xx cards.
So with low energy prices you could go for 10xx cards, like 1070 and 1070tis, 1080 or 1080ti.

I (personally) go for 2080 cards. You find them quite often for a good price and they give good hashrate combined with low power.
Example: 1.7 Ghs GrinC31 for 140 Watt.

I (personally) believe, on the 30xx series, they will start with the Titan for over 3k and we will see good mining cards in september.

When you want to buy now, go for 20xx cards. Thats my opinion.

[hustleman]

So I have drilled down to some cards and I found the following options from a supplier overseas-
a)1060 6GB~ $140 - $160 (new 3 yr warranty)
b)1080ti 11GB~ $500 - 450 (new 1yr warranty)

So basically I can spend about 3k on cards resulting in - either 6x1080ti or 20x1060

i used whattomine to check which coin is best for the above cards, and seems like ROI on the 1080ti are bad, however the 1060s will take 1.5 years

is this normal? or am I just too late, which is why its bad for me?

What do you guys do. same as above?? use a profit calculator and mine the best coin? are your ROI on hardware around similar time as mine?

Am I missing something regarding mining.

Mining profitability is minimal to zero at current prices and difficulty.  People who mine currently typically do it as a hobby, already have the hardware, so utilizing it, have really low electricity rates, and/or will hodl the mined coin for future price increases.  your ROI at current values is correct to even on the shorter end.  You are a little late to the game, but not saying things can't turn around.

[ronnieb]

Find a couple of cheap second hand p106s for rig and experiment. they can mine more coins than amd and can found around for $60 at the moment

[philipma1957]

So I have drilled down to some cards and I found the following options from a supplier overseas-
a)1060 6GB~ $140 - $160 (new 3 yr warranty)
b)1080ti 11GB~ $500 - 450 (new 1yr warranty)

So basically I can spend about 3k on cards resulting in - either 6x1080ti or 20x1060

i used whattomine to check which coin is best for the above cards, and seems like ROI on the 1080ti are bad, however the 1060s will take 1.5 years

is this normal? or am I just too late, which is why its bad for me?

What do you guys do. same as above?? use a profit calculator and mine the best coin? are your ROI on hardware around similar time as mine?

Am I missing something regarding mining.

Mining profitability is minimal to zero at current prices and difficulty.  People who mine currently typically do it as a hobby, already have the hardware, so utilizing it, have really low electricity rates, and/or will hodl the mined coin for future price increases.  your ROI at current values is correct to even on the shorter end.  You are a little late to the game, but not saying things can't turn around.

Note this advice it is pretty sound.  if you have cheap power and can hodl coins .

I use my gear to heat my home. It makes me effectively have cheaper power.

[ZeeeN]

If you want to learn about POW it not late but it take more time for ROI.

about card i recommend use nvidia for other algo because we dont know ETH change to POS this year or later.

and nvidia card can sell in good price for gamer  amd card have driver issue when play some game.

1080ti-2060-1660 super is good pick it up to you what coin you want to mine if you want stick with ETH 1080ti is ok

pick in 3fan card is better than 2fan for 1080ti it very hot.


you can mine right now and hodl for alt coin party season come.

[Number6]

So I have drilled down to some cards and I found the following options from a supplier overseas-
a)1060 6GB~ $140 - $160 (new 3 yr warranty)
b)1080ti 11GB~ $500 - 450 (new 1yr warranty)

So basically I can spend about 3k on cards resulting in - either 6x1080ti or 20x1060

i used whattomine to check which coin is best for the above cards, and seems like ROI on the 1080ti are bad, however the 1060s will take 1.5 years

is this normal? or am I just too late, which is why its bad for me?

What do you guys do. same as above?? use a profit calculator and mine the best coin? are your ROI on hardware around similar time as mine?

Am I missing something regarding mining.

Here is some food for thought:

6x1080ti = 0.0214 ETH/day = 7.811 ETH/year at today's difficulty (which of course will change as time goes on, so you will be making even less)

20x1060 = 0.0337 ETH/day = 12.3 ETH/year

$3,000 / $220 (ETH price today) = 13.63 ETH right now. If it drops to $200 (likely) you would get 15 ETH for that same $3k investment.

Notice also I didn't include electricity prices in any of this, so by buying ETH outright you are even further ahead.

Also, by buying ~15 ETH right now, say the price jumps up to $800+ in 6 months, you can sell a quarter of your holdings and be at breakeven with ~11 ETH left over, while with mining you would still be chugging along with maybe 6 total ETH mined at that point.

[badbart]

Mining coins and buying coins have two different types of risk. 

With gpu's if the market goes to hell you can sell them at a small loss if you buy smart.  If you have decent electrical cost mining produces income everyday.

Buying coins theirs zero overhead and if you time it right your upside is huge.  But you have to wait out long periods of no income.  Also the potential loss is large unless you think you can trade, lol.

[maggotminer]

thanks for your replies, this really opens up different perspectives.

I was actually planning to setup a remote mining rig overseas as where I live electricity cost is almost 0.22/kw.

But it seems it would save me tons of headache by just investing in ETH instead of mining(atleast to start with).

Are BTC and ETH are my safest bet for HODLing for profit? I was also looking at Zcoin(XZC) which rovides masternode(passive income? of $60 a month)

I know its a stupid question to ask what is really safe in crypto, but I would really apreciate if you could share your views. I will take them as 'lessons learnt' by experienced investors and try to atleast eliminate those mistakes.

[Bohr256]

No coin is safe in the crypto world. However, your best bets are BTC and ETH. Also note the return may not be as high in the short term. If you feel adventurous, there are less popular coins that are very risky but may get you very high returns.

[Wotan Wipeout]

There are tons of coins. You have to do your own research.
BTC actually might be cheap before it goes up past 10k - or expensive before the next dip.
Who knows?
In the long term BTC is a must i think, even if only 20% of your coins. You mostly need BTC to buy other coins.

I would go for a bit BTC first, and wait whats gonna happen. Interesting times before the halving.

[OasisDre]

I know I might be late into the mining game, but I would really like to get into it, since I have been researching so much about it lately.

Problem is that my GPU of choice(RX580), I could not find much info about whether to buy them now is a good option or not.

The deal breaker for me are the following -

1 - Already I am late at the game, so buying these GPUs, according to my calculation if I buy 20, it would take atleast 1.7 years to break even on hardware after elec costs(if I only mine Ether). Now, by then I guess these GPUs will be less efficient sinse newer cards are coming out thsi year.

I am very confused about what to do regarding this. Also maybe another factor contributing to this confusion is, how long should I plan on running these GPUs before upgrade?

You are worried about seeing the GPUs get obsolete after few months you buy them? Yes it's true and one more thing to be worry about is Ethereum will switch to Proof of Stake soon, you won't be able to keep mining Eth with those cards

[OasisDre]

The cards I would like to recommend are based on success ROI and costs, starting from gtx1060 variants with 6Gb memory are good choice, less costly, make sure memory starts from 4GB if you looking to mine Ethereum, others are

Gtx1080ti
Rtx2080ti
RX Vega 64 and 56 variants
RX Radeon VII

[lunobird]

You can be a fomo crypto noob and buy mining gear and get rekt years down the line and realize after your electric cost you never roi.

Us miners are very tribal and will mine at a loss to mess with other miners and keep playing chicken with one another to drive each other out of the mining game.

Or you can be a crypto pro and learn from our mistakes and just buy quality coins and potentially make real money in the future

Choice is yours.

[OasisDre]

You can be a fomo crypto noob and buy mining gear and get rekt years down the line and realize after your electric cost you never roi.

Us miners are very tribal and will mine at a loss to mess with other miners and keep playing chicken with one another to drive each other out of the mining game.

Or you can be a crypto pro and learn from our mistakes and just buy quality coins and potentially make real money in the future

Choice is yours.

OP I think you should listen to this guy, the real fact is it's a pain waiting for a whole year or more to reach ROI where anything can happen along the journey, it's better if you consider investing in Bitcoin than investing in mining setup this days, I've tried this for 3years and it doesn't pay

[maggotminer]

Thanks for the honesty guys, really appreciate it. Believe I'm going to invest in buying coins instead of mining. It probably doesn't make sense for me so cd the electricity cost is high too.

I'm thinking of slowly buying more of energi coins and hopefully so.eday accumulate enough for a masternode. Seems to be pretty good passive I come.

If you have any more suggestions for masternodes do let me know. I'm also looking at zcash MN and gobyte MN.

Have you guys had any xp with masternoding or staking?

[IIV]

I'm getting a RX 580 for $200 and ASRock H110 Pro for $40. Electricity here is a 10cents per unit on average. Would it be profitable if I started a mining rig?