CryptoCurrency Mining with GPUs *spawn*

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

  1. Gubbi

    Veteran

    Joined:
    Feb 8, 2002
    Messages:
    3,639
    Likes Received:
    1,082
  2. pharma

    Veteran Regular

    Joined:
    Mar 29, 2004
    Messages:
    4,499
    Likes Received:
    3,916
    PSman1700 and Lightman like this.
  3. orangpelupa

    orangpelupa Elite Bug Hunter
    Legend Veteran

    Joined:
    Oct 14, 2008
    Messages:
    9,648
    Likes Received:
    2,737
    Lightman likes this.
  4. pcchen

    pcchen Moderator
    Moderator Veteran Subscriber

    Joined:
    Feb 6, 2002
    Messages:
    2,980
    Likes Received:
    523
    Location:
    Taiwan
    Probably not for the more expensive cards though. For example, a 3080 Ti's best mining profit now is for "Raven" coin (which is not 'rate limited') with less than US$5 per day without taking account of the cost of electricity. To get US$1,200 back you'll need 240 days, which is 8 months running it 24 hours a day. I don't think that's a good investment, if you do it purely for mining.
     
    Lightman likes this.
  5. sonen

    Newcomer

    Joined:
    Jul 13, 2012
    Messages:
    80
    Likes Received:
    102
  6. CarstenS

    Legend Veteran Subscriber

    Joined:
    May 31, 2002
    Messages:
    5,648
    Likes Received:
    3,627
    Location:
    Germany
    Yeah, that Anonymous account "verified by google" really lends this credibility...
     
    Jawed, Lightman and Rootax like this.
  7. A1xLLcqAgt0qc2RyMz0y

    Veteran Regular

    Joined:
    Feb 6, 2010
    Messages:
    1,589
    Likes Received:
    1,490
    Total Mining Profit until 2.0 (Chart Update!)

    Go here for original article: www[DOT]reddit[DOT]com/r/EtherMining/comments/ntrnzp/total_mining_profit_until_20_chart_update

    Change [DOT] to . in above link. I am not sure why the link expands to a MEDIA link?

    Great article in the breakdown on what earnings for ETH will be for miners going through EIP 1559 next month until ETH 2.0 completely shuts down mining completely.


    With eBay sold prices still in the $700+ range I will be selling off my Vega 56's starting tomorrow after I earn my latest 0.1 ETH reward.


    I really don't see prices of Vega 56's holding up going forward and the data in the above article shows that selling them for $700+ will earn more in profits than mining with them till ETH 2.0.


     
    #1227 A1xLLcqAgt0qc2RyMz0y, Jun 7, 2021
    Last edited: Jun 7, 2021
    Arwin, Lightman and pharma like this.
  8. Rootax

    Veteran Newcomer

    Joined:
    Jan 2, 2006
    Messages:
    2,285
    Likes Received:
    1,729
    Location:
    France
    I really believe eth 2.0 will be late, like Q2 2022...
     
  9. dskneo

    Regular

    Joined:
    Jul 25, 2005
    Messages:
    752
    Likes Received:
    274
    You are allowed to believe that, but you should plan for what they recommended - End of 2021.

    So today, you can sell your GPU's for 3x the MSRP. The question is if the income from mining until Dec-2021 can offset the drastic fall in GPU prices you will see then.

    The bet that it could only happen in Q2 2022 may backfire even worse. Or, you may profit from it, but not by much. Does the risk compensate the benefit?
     
    A1xLLcqAgt0qc2RyMz0y likes this.
  10. Rootax

    Veteran Newcomer

    Joined:
    Jan 2, 2006
    Messages:
    2,285
    Likes Received:
    1,729
    Location:
    France
    Oh I'm not in the mining game anymore. I only play on the exchanges now.
     
  11. MfA

    MfA
    Legend

    Joined:
    Feb 6, 2002
    Messages:
    7,382
    Likes Received:
    716
    This seems insanely risky both for Strike and El Salvador, between massive exchange rate movements, possible changes in US regulations and the massively subsidized nature of Lightning network this could all come tumbling down all too easily. Even if the Strike App just keeps all the balances in US dollars and just uses Bitcoin as a transfer mechanism, it's still very risky.

    It's only a couple really big Lightning Service Providers which subsidize the real cost (ie. they don't charge the real cost of sacrificed liquidity) and hide the fucked up user side details (ie. channel setup, watchtowers etc) which make Lightning usable ... but that could disappear overnight, it's not a sustainable business.
     
    #1231 MfA, Jun 7, 2021
    Last edited: Jun 7, 2021
  12. ToTTenTranz

    Legend Veteran

    Joined:
    Jul 7, 2008
    Messages:
    12,702
    Likes Received:
    7,705
    I believe the actual Anonymous already claimed this video isn't theirs.
     
    Lightman and CarstenS like this.
  13. A1xLLcqAgt0qc2RyMz0y

    Veteran Regular

    Joined:
    Feb 6, 2010
    Messages:
    1,589
    Likes Received:
    1,490
    I just sold one of my seven Vega 56's on eBay for $710. I cleared $624 after eBay fees (9.5%), shipping (1.7%) and insurance costs (0.9%).

    The buyer paid a total of $765 including sales tax.

    This Vega 56 produced 46 MH/s on Ethereum.

    From article posted above: As of today, June 6, the total future ETH mined per 100MH/s is 0.265 ETH modeled

    So the 46 MH/s should produce a total 0.1219 ETH and at today's price of $2583 be would be worth $315.

    Since Vega 56's were selling on eBay for $125 last year before the current mining craze happened I feel getting $624 right now is a better choice than getting $99 for selling it on eBay ($125 - eBay Fees - shipping) plus the $315 in mining income.

    The buyer who paid
    $765 will need to get an additional $450 from somewhere else to break even. Maybe mining other coins after ETH POS or if Ethereum goes up 242% from today.

    Good luck to the buyer but I feel for myself it isn't worth the risk.
     
    #1233 A1xLLcqAgt0qc2RyMz0y, Jun 9, 2021
    Last edited: Jun 20, 2021
    Jawed, pharma, BRiT and 2 others like this.
  14. Arwin

    Arwin Now Officially a Top 10 Poster
    Moderator Legend

    Joined:
    May 17, 2006
    Messages:
    18,518
    Likes Received:
    2,259
    Location:
    Maastricht, The Netherlands
    I even sold my 970 GTX for € 150, and could probably have gotten more. That thing was like €350 when I bought it, what, 7-8 years ago? These were like €90 second hand 3 years ago. It is crazy.
     
  15. dskneo

    Regular

    Joined:
    Jul 25, 2005
    Messages:
    752
    Likes Received:
    274
    I sold my old 1080ti for 300€ in December 2020 and I bought a 3080 for 700€. 1 month later I sold the 3080 for 1800€ and purchased a 6900xt red devil for 1400€. So you can say I upgraded from a 1080ti to a 6900xt for basically free.

    I was happy with the 1080ti and later the 3080, but if the world throws you a bone you have to take it.
     
  16. PSman1700

    Legend Newcomer

    Joined:
    Mar 22, 2019
    Messages:
    5,506
    Likes Received:
    2,416
    Damn, hell of a deal. Inclined to sell the 2080Ti massively overpriced and wait out the hardware availabilities problems and get a RTX3090/4090 for 'free' later on. Never thought pc hardware/consoles could become a nice investment lol.
     
    A1xLLcqAgt0qc2RyMz0y likes this.
  17. DavidGraham

    Veteran

    Joined:
    Dec 22, 2009
    Messages:
    3,687
    Likes Received:
    4,510
    Honest question, with Eth going PoS, shouldn't that increase it's value in the future? meaning the more you mine now, the more you can earn if you sell your Eth later?
     
  18. Rootax

    Veteran Newcomer

    Joined:
    Jan 2, 2006
    Messages:
    2,285
    Likes Received:
    1,729
    Location:
    France
    It will depend a lot of the technical state of ETH2.0 imo. And market state of course. Right now, tech doesn't matter a lot, it's all hype for the futur, and alignement on bitcoin. Kind of.
     
  19. entity279

    Veteran Regular Subscriber

    Joined:
    May 12, 2008
    Messages:
    1,310
    Likes Received:
    484
    Location:
    Romania
    Impossible to predict. Also waiting out for months for a price increase is a risk in itself.

    Edit : I mean pretty reliably one can expect a price increase just before a big fork/big change. So say a 20% - 100% increase might be likely. But that's a few weeks before the fork. Until then, anything can happen, including a much more significant falling of prices
     
    #1239 entity279, Jun 10, 2021
    Last edited: Jun 10, 2021
    A1xLLcqAgt0qc2RyMz0y likes this.
Loading...

Share This Page

  • About Us

    Beyond3D has been around for over a decade and prides itself on being the best place on the web for in-depth, technically-driven discussion and analysis of 3D graphics hardware. If you love pixels and transistors, you've come to the right place!

    Beyond3D is proudly published by GPU Tools Ltd.
Loading...