friend wants to buy 3 GPU's ... should he ?

[realwhitewhidow]

Hi,   my friend is thinking of buying 3 new, non-lhr rtx 3080's

Occording to him, they should pay for itself by around 10 months ...

I personally feel like its probably not worth the hasstle, time, investment, headache, etc...    if we are just talking about just 2 cards making such a small profit after the initial 2 months ...
If it where 10 cards,    i would have probably told him, yea, go for it.

Thoughts,    would you do it , if you had the cards available for purchase ?

Thx in advance for the input

Sam

[1715090994]

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[1715090994]

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[NeuroticFish]

Hi,   my friend is thinking of buying 3 new, non-lhr rtx 3080's

Occording to him, they should pay for itself by around 10 months ...

I personally feel like its probably not worth the hasstle, time, investment, headache, etc...    if we are just talking about just 2 cards making such a small profit after the initial 2 months ...
If it where 10 cards,    i would have probably told him, yea, go for it.

Thoughts,    would you do it , if you had the cards available for purchase ?

Thx in advance for the input

Sam

I can't tell how good or bad are those cards, but:
1. You should ask in Altcoin Mining subforum, since one cannot mine bitcoin with GPU, hence it's the altcoin miners who can actually help.
2. You should tell clearly what's your friend's electricity cost (cents / kWh), because it's important for a (any such) decision.

[realwhitewhidow]

Ah my bad, im sorry,    i thought i was in general mining,   bit see now that we are under the btc section in particular.

Ill check on him with actual CORRECT electricity costs

THX

[philipma1957]

I asked for this to be moved. to alt coin section.

I gave you a merit for your polite reply.

As for should you grab 3x cards if they are full power  for hashing 3080's new in the box with warranty they are an okay buy. assuming the price is not falsely jacked up to crazy numbers.

if they are used with no warranty they are risky.


Also if the gear is going to be mined in California at 40 to 50 cents a kwatt versus New Jersey at 13-16 cents a kwatt they are less attractive.

[rdluffy]

How much he's going to pay for each card?

Maybe it's worth, depending of buying and electricty costs

3 x 3080s can do 300 Mhs, it's not bad, with warranty as philipma1957 said, can be a good investment, but you should alert him the 10 months ROI could be 12, 16, 24 months...
Another good side is the reselling factor, probably 3080s will hold a good value after some years

[realwhitewhidow]

I asked for this to be moved. to alt coin section.

I gave you a merit for your polite reply.

As for should you grab 3x cards if they are full power  for hashing 3080's new in the box with warranty they are an okay buy. assuming the price is not falsely jacked up to crazy numbers.

if they are used with no warranty they are risky.


Also if the gear is going to be mined in California at 40 to 50 cents a kwatt versus New Jersey at 13-16 cents a kwatt they are less attractive.

Thank you for the merit !!

We are actually located in belgium ..   i believe(but would have to check) that i myself pay around 13eurocents per kwh for my apartment, i assume my friend would be around the same price, but will definitely have him check and come back

[FP91G]

I asked for this to be moved. to alt coin section.

I gave you a merit for your polite reply.

As for should you grab 3x cards if they are full power  for hashing 3080's new in the box with warranty they are an okay buy. assuming the price is not falsely jacked up to crazy numbers.

if they are used with no warranty they are risky.


Also if the gear is going to be mined in California at 40 to 50 cents a kwatt versus New Jersey at 13-16 cents a kwatt they are less attractive.

Thank you for the merit !!

We are actually located in belgium ..   i believe(but would have to check) that i myself pay around 13eurocents per kwh for my apartment, i assume my friend would be around the same price, but will definitely have him check and come back

You have a very expensive electricity price, I would not invest in mining.
If the payback is now 10 months, then you need to count on a payback of 20 months at least. But all mining will depend on the Ethereum coin and when the developers change the mining algorithm.

[realwhitewhidow]

what do you mean ?  13 eurocents, comes to around 15 dollarcents per kwh.   is that expensive for US standards ?

[legcramp]

Don't believe the expensive electricity costs stuff/misinformation... even in California where electricity can be around .27c or (16-17c if you own an electric car) RTX 3000 series are extremely profitable assuming you're not paying super scalped prices. I would tell your friend to go ahead and pick them up if they are priced decently, especially if you they are non-LHR variants.

I assume he's getting them for around $1400-1500 USD if the payback is ESTIMATED for 10-months (of course this can change to 6 months or 2 years overnight)

[swogerino]

I would buy them.They are 300 Mhsh in processing power or 100 Mhsh each of them.I would mine with them even at a loss meaning high electricity prices,a price I would pay to keep mining and store my coins when the better times will come and although we are in a downtrend I predict the better times to come sooner rather than later.I am myself stacking up some cash to add one of these to my almost 300 Mhsh processing power I have in October and probably one more in December and with almost 500 Mhsh I think I am Ok to mine for some time.Definitely a good investment no matter what ROI is for me.

[skablast]

If eth goes POS before eastern 2022, like it seem likely, it doesn't make sense to start mining now.
When ETH mine will die, the price for second hand gpu will go well below retail price as 70 % of miners will stop mining.
The only people will keep mining will be the ones with free electricity or very cheap. There simply will be too many miners compared to the worldwide nethash available, so profitablity will drop leaving no space for the casual miner and people with few rigs.

better invest the same money in some crypto coin

I will personally dump 50 % of my rigs before that  and I have already started dong so, like a lot of other people  that I know

[adaseb]

Your friend should learn first what difficulty is because I notice most new people have no idea what it is. If a GPU earns $5/day as an example. Say ETH is at $3000. People will just say “I can short hedge some ETH at this price and I am guaranteed to get ROI after a certain amount of days”.

Which is true if ETH goes down and crashes. Usually the difficulty will stay the same or even go lower in their favor. However the issue is when ETH stays the same or goes up a little. Then the difficulty keeps rising and the $5/day can quickly become $4/day or $3/day. And they are at a loss because their short hedge is also underwater.

[philipma1957]

what do you mean ?  13 eurocents, comes to around 15 dollarcents per kwh.   is that expensive for US standards ?

no it is meh

I will use usa cents


under 5 very good

5 to 10 mostly of the time good

10 to 15 you enter some zone risky


15 to 20 more risk


over 20 cents pretty high risk


over 30 cents do not mine almost always bad.


My home is 13 usa cents in the winter  make it 10-11 cents due to heating savings

my home is 16 usa cent in the summer make it 18 cent due to warm house in the summer.

I made good money from July 2020 to Sept 2021 with those prices.

But understand July 2020 eth to Sept 2021 eth has been very good very very very good.

I also have access to dirt cheap power so I can move all my in house gear there if market crashes.

If you run 3 cards doing 300 mh =

18 usd a day    burns 20 kwatts or 3.50 usd a day you are up 14.50 usd a day.

but the gear could drop to earning 6 or even 3 a day and you are burning 3.50 usd a day.

I consider you to be okay not terrible not good ok to get the cards if the price is close to retail.

[fmz89]

Hi,   my friend is thinking of buying 3 new, non-lhr rtx 3080's

Occording to him, they should pay for itself by around 10 months ...

I personally feel like its probably not worth the hasstle, time, investment, headache, etc...    if we are just talking about just 2 cards making such a small profit after the initial 2 months ...
If it where 10 cards,    i would have probably told him, yea, go for it.

Thoughts,    would you do it , if you had the cards available for purchase ?

Thx in advance for the input

Sam

At 2x msrp and hold all coin that you earm from mining, and start mining from now until 1s jan 2022, sell at peak, should be paid off, if electric paid by yourself

[OgNasty]

If he's spending dollars then historically it has been a good bet to purchase GPUs (if you can get them at a decent price).  If he's planning to part with his Bitcoin to purchase them, then it might not be the greatest time to do so.  In a few months it's possible Bitcoin will have 3x the purchasing price and GPUs could fall 30% back down to MSRP during that time period.  Some people don't like to buy Bitcoin with the intent of selling to a "greater fool" down the line, so if that's the case then getting into mining is a great move compared with sitting on the sidelines.

[flip4flop]

I wouldnt pay scalper prices for them but if he can comfortably mine with them if the price drops 30-60% and can mine for 18-22 months without any financial stress then it should be okay. I personally always look at the current ROI and multiply it by 2. If I don't mind running them for that long and it won't cause me any additional financial stress then I would do it.

[arielbit]

mining is basically monetizing your cheap power source.

if you are in it for the money, think about the non mineable coins that made a killing.

if you can make money mining, then you/they/friend can easily figure it out yourselves.

exception is if you can go underwater with speculation that the coin/s you are mining is going parabolic/will make a killing/will satisfy your greed/ROI etc..etc..

[VRMdude]

Hi,   my friend is thinking of buying 3 new, non-lhr rtx 3080's

Occording to him, they should pay for itself by around 10 months ...

I personally feel like its probably not worth the hasstle, time, investment, headache, etc...    if we are just talking about just 2 cards making such a small profit after the initial 2 months ...
If it where 10 cards,    i would have probably told him, yea, go for it.

Thoughts,    would you do it , if you had the cards available for purchase ?

Thx in advance for the input

Sam

From a purely financial view one could weigh up if mining is right at this time by looking at how much actual "crypto" could be bought for a £6k capital investment (rough cost of such new GPU rig setup) and what it might be worth in 10 months. I would say at this time its worth mining esp if you like the tec but risky if you only have £6k to spend tho nothing ventured nothing gained. bear in mind Intel are on the cusp of entering GPU market with an offering in first qurter next year so GPU prices may fall at same time hash rate increases even if ETH goes POS but there will still be ETC and other alts to mine.

I just built what i call a 4th Gen rig using RX6000 series cards from profits derived from a 3rd gen rig now decommissioned. The last two years have been good but nobody could have guessed it han on heart and I setup that 3rd gen rig two years ago at the bottom of the market when Eth was $80 and i mined it for a year at a loss operating costs wise but now who's laughing - nothing ventured nothing gained! One must speculate to accumulate but be sensible and before mortgage your childhood home think hard unless you can accept losing it which probly wont happen but no crypto no cry as Bob might say...

[VRMdude]

I wouldnt pay scalper prices for them but if he can comfortably mine with them if the price drops 30-60% and can mine for 18-22 months without any financial stress then it should be okay. I personally always look at the current ROI and multiply it by 2. If I don't mind running them for that long and it won't cause me any additional financial stress then I would do it.

Find the cards with 36 months warranty, it becomes a free lease of the cards to mine with if they break under warranty esp near the end and then return when faulty for refund or credit towards new ones.

[VRMdude]

Hi,   my friend is thinking of buying 3 new, non-lhr rtx 3080's

Occording to him, they should pay for itself by around 10 months ...

I personally feel like its probably not worth the hasstle, time, investment, headache, etc...    if we are just talking about just 2 cards making such a small profit after the initial 2 months ...
If it where 10 cards,    i would have probably told him, yea, go for it.

Thoughts,    would you do it , if you had the cards available for purchase ?

Thx in advance for the input

Sam

At 2x msrp and hold all coin that you earm from mining, and start mining from now until 1s jan 2022, sell at peak, should be paid off, if electric paid by yourself

Agreed.

I have a electric key meter payg style and it costs £35 weekly just to run the rig however i mine weekly in excess of £70 worth of Eth and so for every £1 i put in the meter i get £2 back plus free heating as rig keeps house warm. Its a nice money duplicating machine to have as prior only central abnks could do this and soon it might be £3 back for every £1 put in. 10 months ROI even when MRRP is +100%. Lots of variables to monitor so long as theres more money coming out the meter than going in its win. keep eye on electric prices they are rising fast as our ruling class employ the scarcity theory of value in conjunction with there social control system fake climate change thing... Get a smart meter they say, no thanks i dont want remotely disconnecting on a whim when the energy company finds I use a domestic supply for crypto mining and that is coming mark these words as BTC is the direct conversion of energy to Gold and alts are the tributary's filling that vast river. All involved in supplying that energy to us will want a cut of that pie in time when they truly realise whats going on with the game theory.