CryptoCurrency Mining with GPUs *spawn*

Discussion in 'Architecture and Products' started by CarstenS, Jun 1, 2017.

  1. swaaye

    swaaye Entirely Suboptimal
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    Sigh. I guess that's why the inventory problems aren't going to end anytime soon. Again.
     
    #921 swaaye, Jan 5, 2021
    Last edited: Jan 5, 2021
  2. ToTTenTranz

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    What a letdown.
    All the thought process of determining which card is the most future-proof and which presents a better price-performance ratio becomes completely moot.
    No one needs to decide between a card we can't buy and another card we can't buy.

    At this rate I'm just going to shut off from pretty much all AAA PC gaming until the mining bubble busts again. Which if it's anything like 2017 it should be well until next year.


    At least we (or some of us) have the new consoles to be excited about, thankfully.
     
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  3. Man from Atlantis

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    Yeah I started ethereum mining, it says 140$ per month 95MH/s for a 3080@176W.
     
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  4. pcchen

    pcchen Moderator
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    My understanding is, don't trust a "mining return" of longer than maybe 2 months. It's very likely that you won't be able to get your cost back. The reason why mining Ethereum is profitable now is mostly due to the fact that not many new miners are joining in, combined with the situation of the current high activities on the Ethereum blockchain (the gas fee is very high right now), also the high price of Ethereum. However, none of these are guaranteed to last. More miners could be joining in as profit is high enough, and gas fee might be lower once the "DeFi Farm" frenzy hit a wall, or the price of Ethereum could go down. So, in the end, it's still an efficiency game: the miners with access to the cheapest electricity win (better GPUs are also more efficient, but the upfront cost is generally too high to justify the cost). Also, the "Proof-of-Stakes" Eth 2.0 is coming, maybe in a year or two, at that time mining profit will be greatly reduced.

    However, if you want to use your GPU normally (as, for gaming or other purposes), it's quite possible to do some short-term mining to cover some of the cost. $140 per month is not too shabby. Of course, you'll want to make sure that you know how to sell your mined Ethereum or Bitcoin, as it can be quite expensive to sell them for fiat in some places.
     
  5. pharma

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    Man has two guesses to unlock bitcoin worth $240m - BBC News
     
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