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Author Topic: Buy more GPU miners, or just keep the cash, I don't know.......  (Read 195 times)
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February 16, 2021, 07:34:58 PM
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I have a chance to buy 8 GPUs and get them mining at a fair price.  A price even I'd pay.  Well, I'm not exactly PAYING it, it'll go on the credit card.  The good old American "buy now pay later".

Assuming prices stay above $30K for BTC all year, the GPUs will pay for themselves, even when counting for electric, but damn, all the monitoring, all the checking, all the frantic work in case the miner goes down, etc.  Is it worth the hassle, or should I just keep the cash available on the credit card in case I need it for something else?

Even if I bought them, mined for 6 months, and quit, I'm sure I could sell them for at least 2/3 of what I paid.  I just can't decide if it is worth the frickin' hassle.
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deskless
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February 16, 2021, 08:03:47 PM
 #2

I have been thinking same for many days  Grin
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February 16, 2021, 08:25:41 PM
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Crypto will only go up in the long run, buy the cards and dont look back.

Worst case you make money either way.

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February 16, 2021, 08:47:07 PM
 #4

I have a chance to buy 8 GPUs and get them mining at a fair price.  A price even I'd pay.  Well, I'm not exactly PAYING it, it'll go on the credit card.  The good old American "buy now pay later".

Assuming prices stay above $30K for BTC all year, the GPUs will pay for themselves, even when counting for electric, but damn, all the monitoring, all the checking, all the frantic work in case the miner goes down, etc.  Is it worth the hassle, or should I just keep the cash available on the credit card in case I need it for something else?

Even if I bought them, mined for 6 months, and quit, I'm sure I could sell them for at least 2/3 of what I paid.  I just can't decide if it is worth the frickin' hassle.

Well if they are new with warranty and nvidia 3000 series cards it is a no brainer.

I can't tell you buy or not buy if i don't know the cards and the price.

but nvidia

3080 under 800 yes
3070 under 675 yes
3060ti under 500 yes

all of the above would be really good prices. if new with a warranty just buy them.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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February 16, 2021, 10:11:55 PM
 #5

I have a chance to buy 8 GPUs and get them mining at a fair price.  A price even I'd pay.  Well, I'm not exactly PAYING it, it'll go on the credit card.  The good old American "buy now pay later".

Assuming prices stay above $30K for BTC all year, the GPUs will pay for themselves, even when counting for electric, but damn, all the monitoring, all the checking, all the frantic work in case the miner goes down, etc.  Is it worth the hassle, or should I just keep the cash available on the credit card in case I need it for something else?

Even if I bought them, mined for 6 months, and quit, I'm sure I could sell them for at least 2/3 of what I paid.  I just can't decide if it is worth the frickin' hassle.

Well if they are new with warranty and nvidia 3000 series cards it is a no brainer.

I can't tell you buy or not buy if i don't know the cards and the price.

but nvidia

3080 under 800 yes
3070 under 675 yes
3060ti under 500 yes

all of the above would be really good prices. if new with a warranty just buy them.
What would you recommend for AMD cards?
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February 16, 2021, 10:45:05 PM
 #6

I have a chance to buy 8 GPUs and get them mining at a fair price.  A price even I'd pay.  Well, I'm not exactly PAYING it, it'll go on the credit card.  The good old American "buy now pay later".

Assuming prices stay above $30K for BTC all year, the GPUs will pay for themselves, even when counting for electric, but damn, all the monitoring, all the checking, all the frantic work in case the miner goes down, etc.  Is it worth the hassle, or should I just keep the cash available on the credit card in case I need it for something else?

Even if I bought them, mined for 6 months, and quit, I'm sure I could sell them for at least 2/3 of what I paid.  I just can't decide if it is worth the frickin' hassle.

Well if they are new with warranty and nvidia 3000 series cards it is a no brainer.

I can't tell you buy or not buy if i don't know the cards and the price.

but nvidia

3080 under 800 yes
3070 under 675 yes
3060ti under 500 yes

all of the above would be really good prices. if new with a warranty just buy them.
What would you recommend for AMD cards?

all the 6000 series were really expensive even with msrp  deals

but
the 5700 xt at 500 with warranty is good price  you can find them under 700 used on ebay
the 5600 xt at 400 with warranty is good price you can find them under 600 used on ebay
the 5500 xt at  300 with warranty is good price you can find them  under 400 used on ebay.



Note every price above is over priced but not stupidly so.

right now eth pays 12 cents an mh. so a 5700 pays about 6 bucks - 50 cents for power or 5.50 a day

so at 500 you pay it off in 95 days = decent if you can get it and mining stays good.

all usa prices above.

I have half a mind to sell my

13x5500 =  3900
16x5600 =  6400
15x5700 =  7500

17800 usd and call it a day

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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February 17, 2021, 08:45:20 AM
 #7

I have been thinking same for many days  Grin
Guess what? You are wasting time thinking if you would buy or not, now that crypto mining is still Profitable it's better to going the train faster before it becomes too late, if it's a NO then let is be a NO, if it's a Yes then don't wait any longer, every day counts

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February 17, 2021, 09:27:59 AM
 #8

Have it in mind that bear market can start at any time, if you aren't ready to keep mining for a longer time do not buy mining equipments, it's better to just look for good top altcoins to buy and hold or even stake if you want

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February 17, 2021, 09:52:09 AM
 #9

Since you already have some gpu for mining why can't you wait to buy gpu cheaper? I'm sure once bears attack the market crypto mining will be less Profitable and all GPUs will start dropping in value, keep mining with what you have for now and wait

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February 17, 2021, 12:41:44 PM
 #10

 nothing go wrong buying new card for fair price rather than buying coin at this peak of crypto, and most likely eth mining still profitable to the next 6-12months

before gpus out of stock better to buy when had a chance, then you can go sleep well while your gpus make money for you

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deskless
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February 17, 2021, 03:14:46 PM
 #11

nothing go wrong buying new card for fair price rather than buying coin at this peak of crypto, and most likely eth mining still profitable to the next 6-12months

before gpus out of stock better to buy when had a chance, then you can go sleep well while your gpus make money for you
Agree to your point of purchasing GPU vs purchasing crpyto at peak.
However, GPU mining is not like plugging GPU and go to sleep. There is always work specially first few weeks of a new setup. After 3 years of mining now I dont feel that excited when things break in rig. May be I should not purchase new GPUs.
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February 17, 2021, 03:30:02 PM
 #12

nothing go wrong buying new card for fair price rather than buying coin at this peak of crypto, and most likely eth mining still profitable to the next 6-12months

before gpus out of stock better to buy when had a chance, then you can go sleep well while your gpus make money for you
Six to twelve months? Don't mislead that guy mate, what makes you think that mining profitability will last that long? Don't you think that bear market can start at any time? 12 months is a complete year mate, stop fooling yourself

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February 17, 2021, 03:32:08 PM
 #13

If OP can find the card at MSRP then he can proceed but if not I don't think its worth it cos if bear market start its going to take years to recover your return of investment, choose wisely

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February 17, 2021, 04:10:43 PM
 #14

Do it and keep doing it.
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February 18, 2021, 10:08:34 AM
 #15

If you can power more gpu then do it, it's more money anyways, as for me I can only power 4 GPUs in 24 hours due to electricity bill, actually I'm running off solar but more than 4 gpu won't keep me running for 24/7, more watts less power and energy

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February 18, 2021, 04:20:34 PM
 #16

The more gpu you have the more money you make, also if your electricity bill is cheap I don't see any reasons not to buy more gpu, the reason why I couldn't buy more GPUs is because I run on solar panels only so I will need more panels if I have to add more gpu

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