Pro miners pls give an answer on this

[BitKongy]

I am asking this on behalf of a friend, is 580 8gb still worth buying in 2022 for long term crypto mining? The rx580s are the cheapest around him like 150-180$ per card, what do you think pro miners?.. He said he has cheap electricity bill.

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[rdluffy]

I don't know how cheap is his electricity rate, but in general, RX 580 and Polaris generation are already outdated
They are good in ETHASH, but with the end of Etherem POW I think Nvidias are more future proof.
Nvidias are better to mine more algos.

I've seen good offers on RTX 2060, it's old, but 1 generation ahead of polaris, and can mine more algos.

Maybe it's better to wait a little until ETH changes and see about the profitability

[JayDDee]

Investment decisions shouldn't be made based on 3rd hand forum advice. "Professional" advice, by definition, is paid for.
If you're friend isn't comfortable making their own decision they should get professional advice or stay away.

That's my free advice.

[swogerino]

I am asking this on behalf of a friend, is 580 8gb still worth buying in 2022 for long term crypto mining? The rx580s are the cheapest around him like 150-180$ per card, what do you think pro miners?.. He said he has cheap electricity bill.

If that is his cheapest option and if he truly has cheap electricity bill which I would define right now up to 0.05 and for long term like your friend is looking a maximum of 0.07 cent would be the max limit of what can be considered "cheap" electricity compared to us in Europe which the prices have skyrocketed and most likely we will see further increase this very September.

6 such cards would cost him like 900 dollars plus 200-300 dollars for used other parts that would be 1200 dollars for a 6 cards rig,of course he should get a very good PSU that may rise the cost but it will be worthwhile in the long run,so for 1500 USD he can buy the parts himself or from what I have seen in local market where I am plus in Ebay and others you can get a rig with 6 such cards in the above mentioned price.It can be as jump starting for your friend,if he likes what he sees and start to thoroughly understand cryptos even more,I am sure he will expand.

[adaseb]

No it’s not worth it. It’s overpriced. It seems pretty almost at MSRP when they came out in 2016.

ETH is no longer going to be mineable. The profitability for anything GPU mineable will be very little. I don’t think it’s wise to invest this much per GPU for such a old GPU. You are better off buying something newer that you can sell to a gamer in the future.

Gamers won’t want the rx580 due to its age.

[CryptoATM]

How about buying those RX580 for 70-80$ each? Yes if this happens I will buy eight pieces to mine ravencoin only, the graphic card is very old but yes mining software still supports the graphic cards, we don't know what will happen in future.

[SafuBTC]

The only thing that makes a graphic card outdated is lesser VRAM, if you can say that RX580 8gb are no more a good choice for mining what about GTX 1070 and 1080? To me they are in same category, they are old but still works because they have 8GB memory, that's all that matters, if you can pay the bills for power consumption then you are not on a wrong path.

[Ketesnuko]

Buy something recent, like the RX5700, 6700, 6600xt, rtx3060, if something old is what you prefer due to lesser price on the market make sure its what gamers still use to build gaming PC today like GTX 1070 and 1080, gamers still pairs this card with high-end gen CPUs.

[devil2man]

Unfortunately it is not worth buying a 580 since the end of eth mining is approaching, then it really consumes a lot of energy for the other algorithms, nvidia with at least 6gb of ram are much better

[rdluffy]

How about buying those RX580 for 70-80$ each? Yes if this happens I will buy eight pieces to mine ravencoin only, the graphic card is very old but yes mining software still supports the graphic cards, we don't know what will happen in future.

It's hard to say if 70 or 80 USD are good prices, but if you have cheap electricity, maybe it's worth
Just do the math

Here in my country for example, my electricity rate is .20, so it's barely profitable, like 10cents per day per card (rx 580), putting 5 in a rig will be .50 cents a day = 30 USD month
Not worth the time and noise in my opinion

But let's say you have 0.05 rate, things start to look better

After ETH POS we'll have a better understanding about which cards will continue to mine in profit (if), but I'm doubt about Polaris generation. I suspect only RTX 3XXX and AMD 6XXX will continue on the game

[FP91G]

I am asking this on behalf of a friend, is 580 8gb still worth buying in 2022 for long term crypto mining? The rx580s are the cheapest around him like 150-180$ per card, what do you think pro miners?.. He said he has cheap electricity bill.

580 8gb have been mining for 3-4 years. In my country, there are a lot of offers for 150-160 dollars.
To buy these video cards, you need to carefully check this. If you want to buy them, then do it after the end of ethereum mining, when there will be much more offers and prices will be much lower. For the remaining 20-25 days of Ethereum mining, you will not get a big profit.

[VRExpress]

Tell me where to buy rx580 for 80$ and I will be glad, you can't find the offer unless you are buying from another miner which I don't recommend, they might have flashed some bios that will cause instability to the project later.

[swogerino]

I am asking this on behalf of a friend, is 580 8gb still worth buying in 2022 for long term crypto mining? The rx580s are the cheapest around him like 150-180$ per card, what do you think pro miners?.. He said he has cheap electricity bill.

580 8gb have been mining for 3-4 years. In my country, there are a lot of offers for 150-160 dollars.
To buy these video cards, you need to carefully check this. If you want to buy them, then do it after the end of ethereum mining, when there will be much more offers and prices will be much lower. For the remaining 20-25 days of Ethereum mining, you will not get a big profit.

I would also strongly suggest the same also,as when Ethereum mining will go away these cards cannot do that much other algos except ETC which most people will flock into it,we already have 565 T difficulty in ETC network while before the news of Ethereum mining it was maximum of 382 T,it shows people have already migrated here,beside this algo the Rx versions can mine RVN but at the cost of greatly heating the cards,so most probably the price after the first half of September will be like 50-60 dollars for a card which would makes sense to buy them then.

Keep in mind though as you can use your ETChash to be used at unmineable website where you can choose any coin to mine,you only will get slightly decreased mining rewards daily,so if the price will fall in the second half of September get these cards if you have cheap electricity because right now one such card can make you 0.035 LTC through unmineable mining pool and six of them can make you 0.20 LTC daily which in USD is not much but in crypto 0.20 LTC is a good amount to be mined daily.

[ANSEL_2.0]

Nvidia graphic cards are hot cake for long term mining, they supports more algorithms than AMD cards and rx580 is just too old for that price, the only AMD graphic card that I can buy for mining is vega 56&64 because they are very very good for Autolykos Algorithm.

[FP91G]

At what price can you buy the RX 580s?
"prices
night 1.11 ($0.018)
day 2.11( $0.035)
I don't think prices will go down anytime soon."
https://miningclub.info/threads/po-kakoj-cene-mozhno-pokupat-rx-580-e.103134/

Russia, Irkutsk. I wrote you electricity prices in dollars. A used 570 8 GB graphics card can be bought in bulk for $120.
If you have such an electricity price, then the purchase will not be a mistake, but if you do not have such prices, then wait for the end of ethereum mining.

[S3300]

At what price can you buy the RX 580s?
"prices
night 1.11 ($0.018)
day 2.11( $0.035)
I don't think prices will go down anytime soon."
https://miningclub.info/threads/po-kakoj-cene-mozhno-pokupat-rx-580-e.103134/

Russia, Irkutsk. I wrote you electricity prices in dollars. A used 570 8 GB graphics card can be bought in bulk for $120.
If you have such an electricity price, then the purchase will not be a mistake, but if you do not have such prices, then wait for the end of ethereum mining.

Graphics cards price may not go down soon if after Ethereum merge other altcoins remains profitable to mine but if things get so bad and hopeless many more gpus will flood the market and miners will sell for cheaper price.

[ZeeeN]

if you not have card yet buy rx580 i dont think it worth, if you have cheap electricity bill buy more powerful card is better for long term when you mining around 2-3 years you can sell card to gamer and take some money to buy new card.

i think rx580 next year gamer don't want to buy it.

[GEMIN_M4]

if you not have card yet buy rx580 i dont think it worth, if you have cheap electricity bill buy more powerful card is better for long term when you mining around 2-3 years you can sell card to gamer and take some money to buy new card.

i think rx580 next year gamer don't want to buy it.

This is a big lie, a gamer wants to buy a RTX 2060 from me and he promised the next day, the next day he sent me a screenshot of someone trying to sell a rx580 for a lesser price and he said ' I am sorry I will have to go with this deal because it's cheaper' he claimed he is playing on a 1080p display which rx580 is a perfect choice.

[rdluffy]

This is a big lie, a gamer wants to buy a RTX 2060 from me and he promised the next day, the next day he sent me a screenshot of someone trying to sell a rx580 for a lesser price and he said ' I am sorry I will have to go with this deal because it's cheaper' he claimed he is playing on a 1080p display which rx580 is a perfect choice.

It's hard to say something about possible resale value because every country have their own market.

Here for example, there's still market for old cards like RX 580, but I know it's almost at the edge, the next launch of Nvidia and AMD will probably push the generation and Polaris and GTX 1XXX will lose more value and games will be harder to play at these.

But talking about mining, in the next weeks we'll have a clue about the cards and algos, RX cards could lose value fast if ETHW and ETC doesn't make any profits.
Nvidia are afraid, and will reduce even more the prices of GPUs...

Hey OP @BitKongy, have you talked to your friend about the asnwers here?

[arielbit]

you should worry more about hidden defects when dealing with an old card.

yeah you bought cheap and it runs till ROI then poof it is bricked, yeah you ROI'd but energy and time wasted LOL

[FirmWars]

The best graphic card to buy if you have free electricity is 1660s, even if you are paying for electricity it's still the best because you can easily mine few other algorithms too, rx580 is for Ethereum and ravencoin only, this makes it limited.

[FP91G]

At what price can you buy the RX 580s?
"prices
night 1.11 ($0.018)
day 2.11( $0.035)
I don't think prices will go down anytime soon."
https://miningclub.info/threads/po-kakoj-cene-mozhno-pokupat-rx-580-e.103134/

Russia, Irkutsk. I wrote you electricity prices in dollars. A used 570 8 GB graphics card can be bought in bulk for $120.
If you have such an electricity price, then the purchase will not be a mistake, but if you do not have such prices, then wait for the end of ethereum mining.

Graphics cards price may not go down soon if after Ethereum merge other altcoins remains profitable to mine but if things get so bad and hopeless many more gpus will flood the market and miners will sell for cheaper price.

The used video card 570 8 GB may drop the price, but what do you think, what is the price drop limit. I think not more than 80-100 dollars, so I say that at such prices you can buy these video cards for 120 dollars. I would leave part of the money for purchases after the end of ethereum mining, but if the prices are below $80, then the miners will not sell them. It will be more profitable for them to mine themselves if the electricity is inexpensive.

[Pterosaur]

100$ per rx580 is the minimal expectation and yes this is still a good investment if only the next Ethereum fork is going to be successful and profitable for miners, also you need to have free electricity to run this old bad boys, I am not ready to take the chances so my target is those 6600XT AMD cards, I hope I can get those for 180$ each.

[FP91G]

100$ per rx580 is the minimal expectation and yes this is still a good investment if only the next Ethereum fork is going to be successful and profitable for miners, also you need to have free electricity to run this old bad boys, I am not ready to take the chances so my target is those 6600XT AMD cards, I hope I can get those for 180$ each.

Of course, it is better to buy AMD 6600XT for $180 instead of rx580 video cards, because you can install 2 times more video cards for the same power consumption. But I see the problem with the price. In my country, these video cards cost more than $350 and so far the prices are not falling.

[philipma1957]

100$ per rx580 is the minimal expectation and yes this is still a good investment if only the next Ethereum fork is going to be successful and profitable for miners, also you need to have free electricity to run this old bad boys, I am not ready to take the chances so my target is those 6600XT AMD cards, I hope I can get those for 180$ each.

Of course, it is better to buy AMD 6600XT for $180 instead of rx580 video cards, because you can install 2 times more video cards for the same power consumption. But I see the problem with the price. In my country, these video cards cost more than $350 and so far the prices are not falling.

Weigh price
Weigh efficiency
Weigh availability
Weigh warranties

I on very rare occasion Have purchase rtx a2000 6gb cards at 353 USD that is a pre tax pre discount price.

New
3 year warranty
paid with a CC got 13 months to pay no interest
2% discount
and a 12% discount
and a 6% discount
and 6% tax

so the 6% cancels out

thus 353 x 86% = $303.58 13 months to pay no interest
and 3 year warranty
they had 4 in stock.

That is a good deal. Even with the merge coming I would buy 20 with that deal right now.

But no longer in stock.

[swogerino]

100$ per rx580 is the minimal expectation and yes this is still a good investment if only the next Ethereum fork is going to be successful and profitable for miners, also you need to have free electricity to run this old bad boys, I am not ready to take the chances so my target is those 6600XT AMD cards, I hope I can get those for 180$ each.

Of course, it is better to buy AMD 6600XT for $180 instead of rx580 video cards, because you can install 2 times more video cards for the same power consumption. But I see the problem with the price. In my country, these video cards cost more than $350 and so far the prices are not falling.

The same where I am because that card 6600 XT is very good for gaming also and it has value even for other uses except mining.Gamers now are not a problem as they have tons and I mean tons of options to play their games,so they are not a burden on the miners anymore.We have just to wait to see what will happen after the ETH merge and moves to PoS and I think a couple of days or maximum couple of weeks after that is the best time to stock up video cards with ridiculous cheap prices.

Right now ETC is taking the lead from many people who have switched to it,its difficulty got from 300 T levels before news of ETH PoS to over 600 T now,a double increase.

[FP91G]

100$ per rx580 is the minimal expectation and yes this is still a good investment if only the next Ethereum fork is going to be successful and profitable for miners, also you need to have free electricity to run this old bad boys, I am not ready to take the chances so my target is those 6600XT AMD cards, I hope I can get those for 180$ each.

Of course, it is better to buy AMD 6600XT for $180 instead of rx580 video cards, because you can install 2 times more video cards for the same power consumption. But I see the problem with the price. In my country, these video cards cost more than $350 and so far the prices are not falling.

The same where I am because that card 6600 XT is very good for gaming also and it has value even for other uses except mining.Gamers now are not a problem as they have tons and I mean tons of options to play their games,so they are not a burden on the miners anymore.We have just to wait to see what will happen after the ETH merge and moves to PoS and I think a couple of days or maximum couple of weeks after that is the best time to stock up video cards with ridiculous cheap prices.

Right now ETC is taking the lead from many people who have switched to it,its difficulty got from 300 T levels before news of ETH PoS to over 600 T now,a double increase.

Now profit on ethereum classic 20 cents
Rx 580 120 watts, 5 cents per kilowatt
or profit 29 cents
6600 XT 60 watts, 5 cents per kilowatt
Not even all miners pay 5 cents here, for many, energy is much more expensive. In a few weeks, the profit will drop very much on video cards on this coin due to the arrival of ASICs.

[YellowSwap]

The only thing that makes a graphic card outdated is lesser VRAM, if you can say that RX580 8gb are no more a good choice for mining what about GTX 1070 and 1080? To me they are in same category, they are old but still works because they have 8GB memory, that's all that matters, if you can pay the bills for power consumption then you are not on a wrong path.

You are wrong, less vram is just a part, high electricity consumption takes over profits faster than Vram, there are old graphic cards with 8gb Vram today but they are bad for crypto mining because of power consumption, you will use the whole profit to pay for electricity bills.

[FP91G]

The only thing that makes a graphic card outdated is lesser VRAM, if you can say that RX580 8gb are no more a good choice for mining what about GTX 1070 and 1080? To me they are in same category, they are old but still works because they have 8GB memory, that's all that matters, if you can pay the bills for power consumption then you are not on a wrong path.

You are wrong, less vram is just a part, high electricity consumption takes over profits faster than Vram, there are old graphic cards with 8gb Vram today but they are bad for crypto mining because of power consumption, you will use the whole profit to pay for electricity bills.

It depends on the cost of electricity in your country. If you have such prices, then you have a great advantage.
https://bitcointalk.org/index.php?topic=5411174.msg60834095#msg60834095
You need to have experience to buy good 5 year old graphics cards after mining.
For 5 years, my 1070 and 1080 graphics cards have given me no problems. 3060 and other video cards have a lot of negative reviews due to memory

[batsonxl]

150-180 not cheap. I would buy 3060 instead. Or wait for better deal.buying 2 rx580 and get 60mhs for 300-360$ and at powe at 260watts not sounds good in 2022.

[FP91G]

150-180 not cheap. I would buy 3060 instead. Or wait for better deal.buying 2 rx580 and get 60mhs for 300-360$ and at powe at 260watts not sounds good in 2022.

Do you look at the payback rates of a video card when buying? A used RX 580 graphics card costs $120-140 in my country. These are prices for video cards in good quality. There are also models without video outputs, which are cheaper, but they are only for mining. If the models with problems. There, the price can be as low as $90. The 3060 graphics card is now $550, and it's expensive for that kind of profit.