How to choose the Gpus to start the crypto mining?

[Masterbb]

Hello guys,

I'm new here and plan to start crypto mining at home. But I'm confused with the types of gpus. My budget is 7k-8k.
I want to start from mining ETH/ETC. Anyone can give me any advice?

[sunsilk]

You can't mine ETH anymore because it's already a POS these days but you can mine ETC. You can refer to https://whattomine.com/ for what GPU you may want to use and what coins you can mine with them.

Just explore the website as it includes a mining calculator.

And to know more about mining of altcoins, we have a dedicated section which is the Mining (Altcoins).

[SadGoodbye]

Warning

Are you sure you understand what you are about to venture into?

Crypto mining is not profitable anymore, if I were you id buy Asic miner to mine BTC or Doge coin.

All Pow coins that can be mined using a graphic card are not profitable anymore, even if you have free electricity in your home it's still not profitable.

Use mining calculator to do thoroughly calculations first.

https://whattomine.com/

https://minerstat.com/hardware/nvidia-gtx-1660

[Plaguedeath]

Crypto mining is not profitable anymore, if I were you id buy Asic miner to mine BTC or Doge coin.

You're also forget to mention, if you bought ASIC miner it doesn't mean you're always make profit if you mine BTC or Doge. We're currently on bear market and you wouldn't mine that's much if you only have few ASIC miner. While Doge the price only increase when there's a news about Elon Musk (which I don't know why the reason is), if not the price will continue to decrease.

[stompix]

Anyone can give me any advice?

Yeah, DON'T!

A 3090 at 5 cents/kWh will get you randomly between 10-20 cents a day depending on the up and downs of the few coins left to mine.
So best case scenario free electricity cheap GPU you look at spending $1000 to make $100 a year.

Crypto mining is not profitable anymore, if I were you id buy Asic miner to mine BTC or Doge coin.

If I were him and did not even have a clue that ETH is not minable anymore for a month already I would stay out of any kind of mining.
When you have zero clue what you're getting yourself into it's far better to just buy the coins and hold them rather than burn money away.

[dkbit98]

I'm new here and plan to start crypto mining at home. But I'm confused with the types of gpus. My budget is 7k-8k.
I want to start from mining ETH/ETC. Anyone can give me any advice?

My advice is - Don't do it.
It's not profitable currently and it's a big gamble to bet on some shitcoin mining right now, Ethereum moved to PoS and all forks are not doing good.
If you really want to invest in something your 7k-8k it is better to just buy Bitcoin and hold it in some cold wallet for few years.
There is no guarantees this will pay off in future, with currently crazy situation we have in world, but you can diversify with other assets like gold and silver.

[Outhue]

Hello guys,

I'm new here and plan to start crypto mining at home. But I'm confused with the types of gpus. My budget is 7k-8k.
I want to start from mining ETH/ETC. Anyone can give me any advice?

7-8k is a lot of money right now, you are better off buying BTC and ETH with the money and hold for a while, you will make money this way without having to waste your grid power, even altcoins like Doge coin and few others have bring up to 40% for investors in just few days.

[batsonxl]

It is better buy coins.for 7-8k you will get good amount of coins at these prices. Or 50/50 for half money gpu and half money coins if you want mine so badly.back to your question rx5700s and rtx3060 are good options to start

[swogerino]

Hello guys,

I'm new here and plan to start crypto mining at home. But I'm confused with the types of gpus. My budget is 7k-8k.
I want to start from mining ETH/ETC. Anyone can give me any advice?

I would suggest you build a 4K rig and with that money,right now that everything is in red you would be creating a great rig for the money.The rest of the money you buy coins.In this time I think we should experiment in mining coins otherwise normally not mineable and I do this with my rig,I mine Litecoin,Shiba Inu and a couple of other coins normally not mineable with a GPU but I use unmineable miner,that pool gives you a bit less than other pools but that is because it offers to mine such coins.

For example with 300 Mhsh at using ETHW as an algorithm I am making near 65.000 SHIB per day,anyone is free to experiment at this time where nothing is profitable.

[adaseb]

I bet you he was browsing the classifieds and found maybe crypto mining rigs for sale and is thinking about buying one because the prices are cheaper. There was some guy here or on Reddit who bought some expensive mining rig and was shocked when he learn't there is no more profitability anymore.

Those sellers shouldn't sell entire mining rigs. They should just part it out or build some gaming rigs. People are getting tricked into buying this equipment because they heard about "friend of friend who pulls in $10/day" and they think its a great investment.

At least this guy asked beforehand and we warned him.

[batsonxl]

I bet you he was browsing the classifieds and found maybe crypto mining rigs for sale and is thinking about buying one because the prices are cheaper. There was some guy here or on Reddit who bought some expensive mining rig and was shocked when he learn't there is no more profitability anymore.

Those sellers shouldn't sell entire mining rigs. They should just part it out or build some gaming rigs. People are getting tricked into buying this equipment because they heard about "friend of friend who pulls in $10/day" and they think its a great investment.

At least this guy asked beforehand and we warned him.

Totally agree with.i still see youtubers keep sayin bla bla profitable something.

[adaseb]

These people who made this listings don’t really think straight. They put stuff like “you can make up to $100/day”, etc, etc.

They list their home address for pickup, and they don’t worry that they will come back and demand a refund?

I think that the ones who are doing this were the ones who bought GPUs in early 2022 and they are sitting at a loss and want to recoup their losses.

Most people I know who are new to mining they all funded their gear with credit cards which charge 20% interest.

[YellowSwap]

Mining is dead right now, the only thing that's still fair when it comes to mining is asic miners, if I have up to 7,000$ right now I will build a very good crypto portfolio for 2024-2025, you will make a huge amount of ROI buying good projects than buying graphic cards right now.

[Bitcoin_Arena]

Mining is dead right now,

It's not dead as such, otherwise different POW blockchains would be completely non-operational and "dead" too 

In terms of profitability, yeah, it sucks right now. Only those who mine to sell in the future when coin prices have gone up will benefit. Mining and then selling off all you have mined right now at a loss makes no sense.

[Masterbb]

It is better buy coins.for 7-8k you will get good amount of coins at these prices. Or 50/50 for half money gpu and half money coins if you want mine so badly.back to your question rx5700s and rtx3060 are good options to start

Thanks for your suggestion and recommendation. What's the difference between rx5700s and rtx3060? Usually you directly buy cards or buy gpu machines directly?

[Masterbb]

These people who made this listings don’t really think straight. They put stuff like “you can make up to $100/day”, etc, etc.

They list their home address for pickup, and they don’t worry that they will come back and demand a refund?

I think that the ones who are doing this were the ones who bought GPUs in early 2022 and they are sitting at a loss and want to recoup their losses.

Most people I know who are new to mining they all funded their gear with credit cards which charge 20% interest.

I think the profit is based on the power rate? Where can I calculat the mining profit?

[hymperion]

I think the profit is based on the power rate? Where can I calculat the mining profit?

you can use https://whattomine.com/

I always recommend nvidia 20/30 series GPUs as they have good computing power in different algorithms. AMD was sibling to ETHASH but less potent in most other cases.

[FP91G]

Hello guys,

I'm new here and plan to start crypto mining at home. But I'm confused with the types of gpus. My budget is 7k-8k.
I want to start from mining ETH/ETC. Anyone can give me any advice?

Learn to use calculators
https://woolypooly.com/en/calc/what-to-mine-gpu  
https://2cryptocalc.com/
https://hashrate.no  

How much do you pay for electricity? If you pay more than 6 cents, then buy better coins with your money.
5600 xt mines the ethash algorithm well and these video cards can be bought inexpensively from miners. They do not heat up and work stably, unlike 5700 xt.

[devil2man]

There are various factors to consider such as how much you pay for the energy, if you have solar panels, a place with good ventilation, however I would opt for 3090 with your budget you can buy about 6 and they make a profit of 4 $ a day these days is a decent result

[hymperion]

There are various factors to consider such as how much you pay for the energy, if you have solar panels, a place with good ventilation, however I would opt for 3090 with your budget you can buy about 6 and they make a profit of 4 $ a day these days is a decent result

even having free electricity, the investment for 6 RTX 3090 including psu frame and various would amount to about 5500/6000, at $ 4 a day it would take about 4 years to return the investment alone. An unrealistic ROI.