Just made $500 in my first month of GPU mining

[Anonymous No.29931452]

Well /biz? You said it was unprofitable? Tell me why I shouldn't go out and get 4 more of these babies and be self employed?

[Anonymous No.29931510]

Whats your setup? Im getting 160 with my 3070

[Anonymous No.29931561]

>>29931452
You got your electricity bill yet?

[Anonymous No.29931571]

>>29931452
whats your rig specs?
whats your electricity use?
whats your electricity cost?
Am thinking of doing the same but I might be priced out if ETH keeps falling and/or my electric bills shoot through the roof.

[Anonymous No.29931581]

>>29931452
And I am sitting here, wondering why my eth investment is dropping like a stone...

[Anonymous No.29931593]

I still have 4 or 5 outdated cards from last bullrun, they weren't even worth the electricity to run for most of the bullrun. it's an expensive thing to get into as you need to constantly upgrade the equipment. plus, when ETH goes to staking the majority of ETH miners move to other coins which will kill any chance of profits after that point. but it is a fun hobby I will give you that

[Anonymous No.29931612]

>living with parents who put up with moron son raising power bill by $1,000

[Anonymous No.29931702]

>>29931452
If you have to ask, there's something wrong. Why wouldn't you just do it?

[Anonymous No.29931741]

How profitable would a mining setup be if you had solar panels for example?

[Anonymous No.29931845]

>>29931741
Domestic solar panels take like 10 years to pay for themselves, it’s a meme

[Anonymous No.29931861]

>>29931612
i mine only 14h/day, night cycle with electricity costing 8€/kwh. i have a wattage meter and i pay my parents double the cost bi monthly.

Fuck you fudder

[Anonymous No.29931870]

>>29931510
>>29931612
i don't know where you retards live but me with a single 3090 netted me 562$ on my first month, powerbill only increased by a mere 50$, that mans 512$ profit, i'll take that any day

[Anonymous No.29931919]

>>29931845
its 4-5 years where i live. south europe is the white mans land, white nigger. get fucked

[Anonymous No.29931943]

>>29931870
>with a single 3090
sounds like a larp. Bots grabbed almost all of those.
Unless you paid 4k for a GPU anon?

[Anonymous No.29932010]

>>29931845
most houses aren't even wired properly to run mining rigs, I had to isolate each rig to a new circut, meaning if you plugged anything into the wrong plug shit would start tripping all over. running them off solar panels is a total fucking meme lmao. plus, you want your ROI to be sub 1 year, if it's over 1 year you will probably never reach it with the current equipment you own

[Anonymous No.29932026]

>>29931943
i bought it for 1700€ in january, it costs 2999€ now

[Anonymous No.29932118]

>>29932026
I would just sell the card personally, I wish I dumped my cards at the top rather than running them till they were more or less worthless

[Anonymous No.29932240]

>>29931943
>with a single 3090
>sounds like a larp. Bots grabbed almost all of those.
lmao, I can get you about 150-200 units of 3090 right fucking now shipped tomorrow fully legally with warranty for 2.7k € each

[Anonymous No.29932259]

>>29932118
thing is i really need it for work, i would do that desu, but i'm affraid i can't get a decent card for work right now, they're all too expensive

[Anonymous No.29932280]

>>29931561
Dude, a graphics card consumes 150-300W while mining, depending on how strong it is.
Thats about 220kWh of energy per month worst case scenario.
An RTX 3090 can mine about 0.25 ETH a month, if he sold that at $2000 that is $500 by itself. For one card.
Do you really think he pays more than $2 per kWh?

[Anonymous No.29932300]

>>29932240
>€
yuck

[Anonymous No.29932312]

>>29931741
Not at all.

[Anonymous No.29932313]

>>29932240
yes but you are buying from chink without proper license to sell those.

[Anonymous No.29932380]

>>29932313
with warranty in European country from official retailer through official import channels

[Anonymous No.29932394]

>>29931510
You should be getting 61mh/s on that 3070, unless you are not properly overclocking the memory and underclocking the gpu.

[Anonymous No.29932396]

>>29932313
I should have said
>stolen
because they are making them and selling them direct to customers without paying nvidia for inventing.

[Anonymous No.29932421]

>>29932010
Electrician here, how many watts does it draw at full mine ahead

[Anonymous No.29932428]

>>29931452
OP, which pool are you using btw? my monthly rewards from ethermine dropped drastically fucks knows why

[Anonymous No.29932501]

>>29932421
That depends on the GPU. If anyone is using anything in the RTX2xxx and RTX3xxx series they can ignore electricity costs.

[Anonymous No.29932508]

>>29932421
with 6 rx580s I think I was pulling 11-1200 watts

[Anonymous No.29932542]

>>29931452
With only one of these cards?

[Anonymous No.29932547]

>>29931510
>>29931571
I have a 3080 and 2 2060s from my old rigs. Still dont have the electricity bill but I'd assume it went up $50-$150. Possible more since I don't have a proper rig yet and am basically running them on two gaming rigs. Once I make my actual mining rig they'll be more efficient.

>>29931943
I have OP pic rel that I got from Best Buy before christmas. It's totally possible, even now, to get these cards at retail price.

[Anonymous No.29932553]

If your GPU is decent and has 4gb of RAM or less, hit up Raven Coin. If its 6GB or more, hit up ethereum.

[Anonymous No.29932711]

I could mine in my college dorm next year, its a shared building, 5 people in a room kinda thing, no electricity bill since goberment just pays the whole building water electricity etc
I'm considering getting two of those bad boys and hidding them under my bed for some free beer money, good idea or nah?

[Anonymous No.29932771]

>>29931702
I will. I'm mostly trolling. I love flexing on the gaymers without GPUs. It makes them so butthurt to see someone actually doing something profitable with their PC and not just wasting time playing video games.

[Anonymous No.29932789]

>>29932711
>hidding them under my bed
yeah, don't do this

[Anonymous No.29932801]

>>29932547
>I have OP pic rel that I got from Best Buy before christmas. It's totally possible, even now, to get these cards at retail price.
Yeah I was thinking about that. Actual physical retailers should still have some stock shouldn't they?

[Anonymous No.29932898]

>>29932711
>hiding it under your bed

Sounds like a good way to start a fire

[Anonymous No.29932900]

>>29932542
>With only one of these cards?
My 3070 mined about 45 euros worth over the past 5 days but I hear thats abnormally good profit due to market being excited

[Anonymous No.29932949]

>>29932801
They update regularly. Every week or so. You basically just have to be awake with the page up ready to click BUY NOW like mad. If you're late by 30 seconds they'll sell out and you're SoL. It's not easy, but I was able to get that card a 3070, and two AMD CPUs before the christmas rush. Anyone saying its impossible didn't try hard enough.

[Anonymous No.29932964]

>>29932711
>good idea or nah?
is the room actually secure? expect them to get stolen if not

[Anonymous No.29932992]

>>29931452
What will happen when ETH moves to PoS, you’d have to mine different asic resistant pows

[Anonymous No.29933019]

I need crypto to crash catastrophically so I can 1) buy low, 2) finally get a 3080, and 3) be there toward the bottom for the next cycle
All the dumb idiotic shit I’ve blown my money on since September are all because I couldn’t get the thing I actually wanted. Decided if I can’t beat em, join em, but now that I’m invested in BTC I want the GPU even MORE. Not 3x markup more though, because by the time the card is halfway toward paying itself off crypto will crash again. Sucks shit.

[Anonymous No.29933101]

Is there a poorfag setup for like 1500 total? Gtx cards still good enough?

[Anonymous No.29933128]

>>29932992
Most miners have already decided on RVN for their next mine coin, but that could change at any moments notice. Thats the crypto game. Still, ETH 2.0 probably wont happen until late next year. Plenty of time to pay off cards and make some profit.

[Anonymous No.29933142]

>>29933019
>because by the time the card is halfway toward paying itself off crypto will crash again. Sucks shit.
you need to mine all the way up to the next bull market so you have something to invest

[Anonymous No.29933182]

>>29932711
if your roommates are okay with your room being 95 degrees day and night and listening to all your fans going

[Anonymous No.29933201]

>>29933101
>Gtx cards still good enough?
my 1070 has been pulling in about 1.5 to 3.3 euros a day over the past week, just make sure it has at least 6gb of memory

[Anonymous No.29933240]

>>29933128
ETH mining makes up the vast majority of mining power, if even a % of that were pointed at ravencoin it looses all profitablity

[Anonymous No.29933247]

>>29931452
What pool are you using?

[Anonymous No.29933272]

>>29931452
are you sure you made that money?
you can't claim net profits until you show us the power bill, faggot.
get assraped by AEP while I collect the dividend from your demise.

[Anonymous No.29933338]

>>29932964
relatively so, I lived there for a semester before rona and rarely did things get stolen, I left my door open while showering and shits with my stuff inside, theres video cameras on the halways and no one gets in the building without ID, I'd say its fine, people have fridges, computers, money, drugs etc and rarely any problems
I'm only worried about the police raids for drug dealers that use other students, they might come in and ask me the fuck am I doing and what am I gonna say
>>29932898
aight noted
>>29933182
ah the fucking fans, i disscussed this with one of my ex roommates already, i guess i could convince some other poorfags to get on the gag
Actually while on it I could convince a fuck ton of people to do it
I could build a mining empire in this bitch

[Anonymous No.29933346]

>>29933272
>you can't claim net profits until you show us the power bill, faggot.
I have a computer running 24/7 and my electric heating costs more than my computer, with enough computers I don't have to keep the heating on and still have smaller electric bill

[Anonymous No.29933383]

>>29933182
yeah, don't underestimate the noise, with many of those it sounds like a fucking turbine

[Anonymous No.29933448]

>>29933338
>about the police raids .., they might come in and ask me the fuck am I doing and what am I gonna say
just tell them its an array of GPU cards

[Anonymous No.29933515]

>>29933272
The electricity FUD doesn't work anymore.

[Anonymous No.29933595]

>>29933247
Flexpool. Set up my payout to 0.35 ETH and I acheived that in 1 month and 15 hours.

>>29933272
I know I'm mostly just flexing on the nocoiners and GPUlets since they'll probably never see $500 dollars worth of ETH in their entire lives.

[Anonymous No.29933846]

>>29932010
>meaning if you plugged anything into the wrong plug shit would start tripping all over.
use wire to hold the breaker switch in position

[Anonymous No.29933951]

>>29933846
I don't think you should be doing that

[Anonymous No.29933962]

>>29932711
people notice abnormal electricity usage. You will not go unnoticed

[Anonymous No.29934020]

>>29933595
I've been using ethermine.org, but I don't feel I'm getting enough shares for my hashrate (around 110mh/s)

[Anonymous No.29934043]

>>29933595
>Flexpool
doesn't seem like a good pool though, average luck is way too high

[Anonymous No.29934045]

>>29933142
You know what, shit maybe.

[Anonymous No.29934080]

>>29933951
it works.

[Anonymous No.29934119]

would it be worth mining with a 1070ti

[Anonymous No.29934142]

>>29934080
my power doesn't turn on if I try to turn the switch right after it triggers, I need to wait a minute or so

[Anonymous No.29934175]

>>29933846
please don't be a massive retard anon

[Anonymous No.29934263]

>>29933142
>>29934045
during bear markets you will be spending more on electricity than you will be making in coins. you can just not run the cards and put the extra money off your elec bill into coins every month

[Anonymous No.29934273]

>>29934119
it might be, depending on your electricity costs and if you're willing to wait for the coins to accumulate
https://www.nicehash.com/profitability-calculator/nvidia-gtx-1070-ti

[Anonymous No.29934400]

>>29934043
They're a relatively smaller pool and they use AWS servers. I really can't compare them to anyone since they're my first pool. Got the payout as advertised though and .35 ETH a month isn't bad. Can't argue with results.

[Anonymous No.29934424]

>>29934119
Yes

[Anonymous No.29934466]

>>29931943

I got my 3090 in December for 1650. Get fucked scalpers

[Anonymous No.29934485]

>>29934400
i guess i'll give them a try, my rewards on ethermine dropped, but my next payout is tomorrow, so after that i'll switch and give it a go

[Anonymous No.29934489]

>>29934263
Not if you're holding the coins for later.

[Anonymous No.29934545]

>>29931452
Was making around $5.8 USD a day myself on a 3070, pay around 19c /kWh (I'm not American, I just translated the currency for your sake). Making just under $5 USD now that everything has corrected a little, though one day last week it was almost $14 USD, I think its proportional to the value of BTC and the volume of transactions (and obviously how many transactions you can process).
If profitability is lower one day I just don't mine that day, and I bought a 3070 for games so its hardly even an investment put down, I bought it regardless, for leisure.

[Anonymous No.29934592]

>>29931452
How do I do this?

[Anonymous No.29934624]

>>29934592
I like nicehash because you get paid in bitcoin and the software automatically picks the most profitable algorithm to mine for you

[Anonymous No.29934792]

>>29931741
https://youtu.be/uE9okRoy3Z8

[Anonymous No.29934821]

>>29934119
1070's have pretty good power efficiency. Won't be much, but you'll be in the green as long as you don't live somewhere with retarded electricity.

[Anonymous No.29934847]

>>29934592
>>29934624
Nice hash is fine when you're just starting out. But if you have 30 series RTX card, it would probably be more profitable to mine ETH directly. Here's a quick guide.

https://flexpool.io/en/docs/getting-started/

[Anonymous No.29934889]

>>29934489
why mine 10 coins for 100 dollars in electricity when you can buy 10 coins for 90 dollars? you can still hold coins if you buy them lmao

[Anonymous No.29934987]

>>29931870

How much was your 3090 and was you able to mine Monero?

[Anonymous No.29935042]

>>29934889
where I live you can write off crypto mining equipment in taxes and its gonna keep going and going with very little effort once its all dialed in

[Anonymous No.29935081]

>>29934987
Very brainlet.

[Anonymous No.29935082]

>>29932118
OTOH, people who kept their RX 580s from 2017/2018 made a lot of money in late 2020~2021.

[Anonymous No.29935142]

>>29932118
>I would just sell the card personally
look at used card sellers, they're asking top dollar, its not a mass sell off on the GPU miner side

[Anonymous No.29935223]

>mining talk just starting
the bull run isn’t over FUCK

[Anonymous No.29935431]

>>29935042
Is that across the states or does it vary?

[Anonymous No.29935460]

>>29935431
check your local laws to cover your ass

[Anonymous No.29935522]

is it worth mining a warm area? ive lived in a cold shit hole my entire life and could probably heat a room with a mining rig but i cant take this fucking snow shit anymore i wanna move to the tropics

[Anonymous No.29935566]

> gpu prices gone up 100%
> eth2 around the corner
> eth price’s plunging
> difficulty increasing
It’s too late to jump into mining, you are better off just buying and holding coins

[Anonymous No.29935664]

>>29934987
Anon, you don’t mine monero on a GPU. It uses the randomx algorithm which is only viable for cpu mining. You’d want an AMD ryzen 3900x probably.

I don’t mine monero so I’m not an expert here.

[Anonymous No.29935718]

>>29935522
>is it worth mining a warm area?
energy efficient cooling solution for your home could be worth the investment

[Anonymous No.29935767]

>>29931452
Mining is being phased out in favor of PoS, it will be DoA soon

[Anonymous No.29935815]

>>29935767
>PoS
wasn't this originally planned to happen in 2018? what makes you think it won't be delayed again?

[Anonymous No.29935886]

>>29931845
It's good if you live in sunny weather desu. I'm from Malta and we don't even pay for electricity anymore cause of the solar panels. Government here was shilling solar panels too so they gave people who wanted the solar panels money

[Anonymous No.29935892]

>>29935042
if you got all the equipment free, you would STILL be better off spending money of coins than electricity during a bear market. there is no way around this anon. you LOSE money running a mining rig when the market shits the bed. like this isn't up to interpretation, you will have more coins in your wallet at the end of a bear market if you invest that money rather than spend it on your electric bill

[Anonymous No.29935939]

>>29935142
tons of people got into mining at the top kek, I know someone who went into debt to buy a mining rig November 2017, no way in hell he paid that shit off kek

[Anonymous No.29935974]

>>29935892
I see you haven't done the math, I have currently open orders for up to 300 MH/s worth of new GPUs

[Anonymous No.29936005]

Don't buy anything from ebay. There are a ton of asic and gpus hitting the market after being used. Most of the crap on there seems like a good deal, but they're no longer profitable to run. If they were profitable to run they would be still inside the miner's racks.

You can buy an asic miner that can do as many hashes as multiple gpus right now for under a $100. Problem is they're useless unless you want to do it as a hobby or you have someone else paying your electricity bill.

[Anonymous No.29936068]

>>29935939
>I know someone who went into debt to buy a mining rig November 2017, no way in hell he paid that shit off kek
dude he made off like a bandit if he mined, accumulated the coins and sell off at the top now

[Anonymous No.29936132]

>>29931741
solar panels are a scam

[Anonymous No.29936142]

>>29936005
>Don't buy anything from ebay.
ebay has buyers protection, you get money back if you say it doesn't work

[Anonymous No.29936210]

>>29935974
anon I literally had to turn off my miners because they were costing me about 1.50 in electricity every day AFTER accounting for eth profits lmao, again this isn't up to interpretation, it's the way the game works. look at it this way:

1 month of mining = 0.1 eth @ 0.09 eth per month electricity = 0.01 eth profit a month

1 month of mining = 0.1 eth @ 0.11 eth per month electricity = 0.01 eth loss per month

as soon as gross eth profits drops past the point of paying electricity, the miners go off. there are people who do not pay electricity (whole farms) and they will run their rigs to a price point you can't keep up with. this only happens as we enter the later parts of the bear

[Anonymous No.29936280]

>>29936068
>buy a mining rig for 5k, mine 5 eth with it
OR
>buy 15 eth at the bottom and hold

anon I am an og mining fag lol if you haven't tried to run that shit during a bear market don't talk

[Anonymous No.29936310]

>>29936210
I literally save money by heating my home with computer instead of the electric heating element and accumulate all my coins for years, I do not fucking use mining profits for electricity holy shit thats the dumbest thing I have ever fucking heard

[Anonymous No.29936324]

>>29936210
this.

I can't wait for the new batch of used 3080's to hit the market so i kind finally play some vidya.

[Anonymous No.29936359]

>>29936280
>lol if you haven't tried to run that shit during a bear market don't talk
my bitcoin investment is at 17000% profit right now, I am talking about long term commitment

[Anonymous No.29936382]

>>29936310
so you don't pay for electricity?

[Anonymous No.29936389]

>>29931593
newfag talking out of his ass SHUT THE FUCK UP

[Anonymous` No.29936399]

>>29931452
You did not make $500 with a single 3090.

I have a 3090 and a 1660 and I've made $400. Only way you could make that much is if you found a whole block

[Anonymous No.29936413]

>>29936310
oh my god you still don't get it. you aren't spending eth profits on electricity you are weighing it against electricity costs. anon, if you can make 50 dollars selling something you own but it will cost you 60 dollars in gas to drive out to the place to sell it, you have lost 10 dollars even if you now have a 50 dollar bill in your pocket

[Anonymous No.29936424]

>>29936324
>I can't wait for the new batch of used 3080's to hit the market
look at the fucking used card market, they're asking for more than the new cards cost, there is no sell off, I am buying too, I'll pay you the current listing price at very least

[Anonymous No.29936472]

>>29936310
This. If you're selling coins to pay for the bill you're doing it wrong.

[Anonymous No.29936484]

>>29932240
I get why you do this, but you are still an enormous faggot and I hope you lose your investment.

[Anonymous No.29936508]

>>29932771
Based OP. I'm doing the same, their salty tears fuels my motivation to buy more GPUs they can't get.

[Anonymous No.29936509]

>>29931452
my buddy has 8 rtx 3080s, he quit his min wage cuck job

[Anonymous No.29936549]

>>29936382
>so you don't pay for electricity?
my computer is ALWAYS on, 99% uptime since mid 00's, I run a server, my heating is electric, I can turn off the heater with enough computers, the computer heating is more cost efficient even without mining entering into picture than the actual heater is
>>29936413
are you some kind of a ELIZA tier chat bot?

[Anonymous No.29936553]

MINE RVN OR REGRET IT LATER

[Anonymous No.29936558]

>>29931452
VTC mining all the way babbyyy

[Anonymous No.29936563]

>>29936399
No you're right. It was a 3080 and 2 2060s. Average of 175 Hashrate.

[Anonymous No.29936590]

>>29936484
>I get why you do this
dude the cards are literally listed in public internet right fucking now for sale on the official retailers web store

[Anonymous No.29936609]

>>29936210
What you are saying is true. In a bear market. In our current time, if you have a GPU then mining is a no brainer. The only way to lose money is not selling your eth profits before eth goes below $800

[Anonymous No.29936636]

>>29936359
okay but if you have the choice of buying 5 eth for 5 grand or 6 eth for 5 grand, only a retard would pick the latter. if we have 6 more months of bullrun you don't need to worry about it because you will make roi
>>29936389
faggot I'm not even fudding mining, this is my experiences as a miner

[Anonymous No.29936699]

>>29936484
>>29936590
to add, they're literally new, in sealed boxes, right from the factory through official import channel

[Anonymous No.29936698]

>>29932949
Teach me your ways, sempai. When and where exactly should I be slamming F5 like a coked out monkey? I just want to play some vidya

[Anonymous No.29936701]

>>29936636
>only a retard would pick the latter
former, obviously

[Anonymous No.29936727]

>>29936609
I didn't want to be the one to shit on that anon since he seems very sure of himself. You speak the truth. Right now at this moment, its basically free money. During the bear market IDK sell the cards to your gullible normie gaymer friends. What do you have to lose?

[Anonymous No.29936783]

>>29931593
Moron... I'm still mining with 30 RX580 8gb cards I bought years ago. I've replaced 1 fan and had one card shit out. My electricity price is .09 kw/h. My rigs were paid for during the last bull run. My only regret is buying 30 RX580s and not 1000.

[Anonymous No.29936789]

>>29936609
>>29936727
You do realize my whole point is you need to get ROI before the bear market comes, right? are you even reading my posts or preemptively getting angry because you just dropped 3k on a gpu lmao

[Anonymous No.29936824]

All these big mining profits will end as soon as Ethereum goes proof-of-stake or is dethroned by a better coin

[Anonymous No.29936827]

>>29936783
whoopie anon, you are in the same boat as every other miner including myself, still changes NOTHING about what I said so off yourself lmao

[Anonymous No.29936865]

>>29936789
only reason you MUST get the ROI back NOW is if you cannot afford the investment, I could buy a whole stack, run them 24/7 for next four years straight and then sell the accumulated crypto for mad profit/personal effort ratio

[Anonymous No.29936903]

>>29931452
i still mine and defi niggers pay me kek. based skelly with high gas prices

[Anonymous No.29936964]

>>29936865
but in that case, you would be better off spending all that money at the bottom of the bear market, you will get a much larger stack than mining through the bear market. again, if you want to pay extra for your stack no problem, but if you don't make ROI it's not worth it. I say this as someone who did make ROI lmao

[Anonymous No.29936981]

>>29936789
Okay, no.
If you don't get ROI then you can either continue mining in the next bullrun, or you can sell the card to gaymers in which case you only need to get (ROI - Card Resale Value).
I assume most people have a GPU at home. If you just want some mild profits during the bull market, mining on your already existing GPU is a very good idea.

[Anonymous No.29936985]

>>29936789
>my whole point is you need to get ROI before the bear market comes
Noted and you are correct. If you get in RIGHT NOW you MIGHT escape with the skin of your balls on a ROI before the next crash. I did not buy these cards for this purpose. They were purchased for gaming and since I dont sell my used cards when I upgrade I had extras I could use to mine. I consider myself already making a ROI.

[Anonymous No.29937031]

>>29936981
sure, mining on your gaming computer is a good way to make a few bucks. why would I be against that? I'm a miner.... I don't understand the peopel in this thread lmao

[Anonymous No.29937140]

>>29936964
>you would be better off spending all that money at the bottom of the bear market
but I don't wanna pay taxes

[Anonymous No.29937186]

>>29937140
*mining equipment is a tax write-off

[Anonymous No.29937242]

>>29937140
Don't know where you live but in Canada and the US mining profits are taxed as income

[Anonymous No.29937313]

is it normal that my yields were reduced by ~30% in the past week?

[Anonymous No.29937341]

>>29936698
Newegg right now is your best bet on anything thats scarce like GPUs or CPUs. They do a lottery like drawing when you get time to choose from anything on your wishlist to buy. Other than that, I'd suggest getting on GitHub and grabbing a free bot that scrapes Amazon and autobuys. Distill.io is a good extension that scrapes sites for when things are in stock though some people have gotten banned from manufactures sites when using it. Zotacs website usually restocks every week and so does Best Buy but you would have to know the exact time they restock to have a chance at something.

[Anonymous No.29937347]

>>29937031
The last part wasn't aimed at you specifically, I just noticed that in every mining thread somebody asks about electricity costs, as if they think a gaming PC can't turn a profit mining during a bull market.

[Anonymous No.29937373]

>>29937242
:) here, the mined coin is income that you must list on tax report, but you get to claim the price of the coin at the time of being being mined as investment expense meaning its write-off and you only have to pay on profit on sale event

[Anonymous No.29937399]

>>29936827
It shows that you're a fucking idiot. RX580's came out in 2017. That's FOUR FUCKING YEARS and while there are more efficient cards now - these things are still running and still profitable. If you couldn't figure out how to make your cards profitable for "most of the bullrun" you're an even bigger fucking retard than I thought. Imagine thinking that no other coin will step up to replace ETH for miners. There is way too much money on the line. Miners will pump another coin so that they can continue to mine at a profit. You are a smoothbrain anon, that's why you only have 4 cards, poorly configured. Brainlet.

[Anonymous No.29937407]

>>29937313
Have you seen the market? Everything dumped so the coins you have are worth less.

[Anonymous No.29937465]

>>29937407
>Have you seen the market? Everything dumped so the coins you have are worth less.
dude BTC has gone like 4k up today.. I am SUPER glad I didn't sell this morning

[Anonymous No.29937467]

>>29937407
oh, that makes sense. Thanks anon

[Anonymous No.29937515]

>>29937373
+again, mining equipment is a tax write-off

[Anonymous No.29937563]

How much would I get with my 3070?
0.07kw/h here

[Anonymous No.29937564]

>>29931452
Sell those and get $TON for Tokamak if you want to have the easiest 10x

[Anonymous No.29937615]

>>29937373
+also, again, you also get to write electricity off in taxes, now that I remember

[Anonymous No.29937654]

>>29936824
about half of my profit lately has been from Ravencoin (RVN) which is PoW like Bitcoin. Mining will never die.

[Anonymous No.29937706]

>>29937563
>How much would I get with my 3070?
right now, my 3070 is showing about 4 euro (~5 USD) a day profit, you can turn down the wattage to 50-55% and still get the same mining result with 3070, its a very efficient card, remember to tune to fan profile to keep it cool, like below 60c to make sure the memory stays cool for best memory performance

[Anonymous No.29937710]

>>29937399
I never said my cards weren't profitable during the bullrun? Literally not once. My only point was about ROI vs investments should a bear market event happen again. You are so angry about shit I'm not even sating lmao.

Let me be perfectly clear here. I know someone who spent thousands on a mining rig in late 2017. had he just bought ETH 6 months later he would have been able to buy about 40 ETH. If he ran his rig the entire time, no breaks, free electricity, he would have made WAY more buying ETH at the bottom.

again, this is a factual. you can give all the counterfactuals you want, but it doesn't change anything about the ecomonics of mining. Best move is to mine, get ROI, dump cards as we start collapsing and buying at the bottom, but that takes a lot of market timing.

I'm going to leave this thread because you faggots aren't even objecting to my points, you are all fucking coping somehow when miners are still making bank lmao

[Anonymous No.29937758]

>>29932771
based as fuck

[Anonymous No.29937768]

>>29937615
so you get free electricity to mine and get to be one of the people fucking over other miners in the bear market, confirming my point by accident I guess kek

[Anonymous No.29937882]

>>29937768
>so you get free electricity to mine
funny enough I just remembered that and I have never put that on my tax report yet

[Anonymous No.29938173]

>>29937341
Thank you. You're pretty cool, anon.

[Anonymous No.29938242]

>hey guys I got free coins
>Burns out already expensive cards
>Drive electricity bill through the the roof
>Could have made more by simply buying and selling during bull run

[Anonymous No.29938475]

>>29938242
>Burns out already expensive cards
dude you can run the new cards at 50% power for literally same hashrate
>Drive electricity bill through the the roof
false, literally cheaper than my electric heater and saves me money

[Anonymous No.29938788]

>>29935664
of course you can use GPUs. just not asics

[Anonymous No.29938811]

>>29931452
Any idea of the 2070s hashrate?
Just running Phoenix miner leaving all of the stock config I'm getting about 35hashrate.

[Anonymous No.29938858]

>>29932280
Retards on this board really fell for muh electricity meme kek.

[Anonymous No.29938963]

>>29931452
A shitcoin I mine on the sides for two week just mooned 5x and that alone worth $300. I swear making money never have been this easy before.

[Anonymous No.29939036]

>>29938811
https://www.nicehash.com/profitability-calculator/nvidia-rtx-2070
https://www.nicehash.com/profitability-calculator/nvidia-rtx-2070-super
scroll down to see breakdown by algorithm, the values are those you get once you overclock and dial in the cards properly, quite accurate for my 3070 and 1070

[Anonymous No.29939040]

>>29938242
>>29938475
>>29938811
Knowledgeable miners undervolt their card and run em at %70 power. You get the best hashrates and draw way less power than stock. In fact, one could argue stock settings could burn out your cards over long playing times faster than mining with your card at an efficient %75 power 24/7.

[Anonymous No.29939047]

>>29936553
I dunno about that quote.

[Anonymous No.29939202]

>>29932394
Can get to 63mh/s if you're lucky.

1337 mem oc unironically

[Anonymous No.29939219]

>>29931452
Only reason not to is whenever ETH 2.0 comes out it will make ETH mining shit.

Although there will be other crypto to mine so I dunno. If I could actually buy $30,000 worth of graphics cards I'd do it in a heartbeat.

[Anonymous No.29939226]

>>29931452
Lol

[Anonymous No.29939281]

>>29932394
I'm getting 62.07
+1300 mem -200 core 55% PL (120W)

[Anonymous No.29939325]

>>29939040
I’ve been keeping my GTX 1060 6GB at low power using NiceHash, it runs between 62 and 68 degrees usually. Sometimes I’ll let it run at medium and it tops out at 71 degrees.
I don’t really wanna fuck around with underclocking the card because I still use it for rendering and gaming, but as long as I keep it under 75 degrees consistently I’ll be okay right? Making a whole dollarino a day

[Anonymous No.29939518]

>>29939325
You are doing something wrong. I had 25mh/s with a 1060, around 1.4€/day

[Anonymous No.29939615]

Anyone mining xmr with i5 10400? Getting only 3000H/s, which translates to peanuts, but I got free eletricity.

[Anonymous No.29939656]

>>29931861
brah do I need to know compooters and shiet to mine?

[Anonymous No.29939809]

>>29939325
>I don’t really wanna fuck around with underclocking the card because I still use it for rendering and gaming
if you use something like asus gpu tweak II software you can have multiple profiles you switch between with one click

[Anonymous No.29939821]

>>29939325
Oh yeah my advice was mostly towards RTX cards. 1060s work fine out of the box, maybe just up the mem a couple hundred and lower the power %5 and you should be fine.

>>29939615
I don't mine with my CPU for this reason. Low payout for a lot more power. Is it possible to CPU mine with a VM though? In that case I would mine with a bunch of VMs and maybe that would be profitable? I just had that thought sorry if its retarded.

[Anonymous No.29940121]

>>29931452
we just got out of a gruesome bear market, watching miners capitulate at a loss until a few months ago.
I remember bitcoin miners spending 15k per bitcoin, when it was 8k.
There were countless stories just like this...
https://www.youtube.com/watch?v=BHoJSMmvd3I

Lesson is don't scale up to a large operation. Keep it casual.

[Anonymous No.29940235]

>>29940121
>fomo
should be moon
>moon
should be fomo

[Anonymous No.29940820]

>>29937654
Unless Ravencoin can achieve the market cap of ETH its mining profitability will fall towards zero if all the ETH hashrate tries to migrate to Ravencoin. Without an extremely high market cap proof of work coin like ETH there is no GPU mining market. It's hard to see Ravencoin achieving such a high market cap in the face of competitors like ADA or even ETH if they ever get their shit together.

[Anonymous No.29940949]

>>29940235
doesn't matter.
point is, double digit shitcoin hell was scary as fuck.
I remember thinking the miner capitulation could leave networks all the way up cmc vulnerable to a 51 and that chart could actually play out.

[Anonymous No.29940984]

>>29931612
>muh power bill too much
not when the coin increases by 100000% you stupid short sighted nigger

[Anonymous No.29941016]

>>29931861
And what do you do for a living, work from home?

[Anonymous No.29941061]

>>29939656
pls respond

[Anonymous No.29941113]

>>29937710
>reddit spacing
>canadian

Refers to himself as an "OG" but doesn't even know how to properly tune his "rig" which consists of 4 GPUs, lmao... good riddance faggot. Back to plebbit. Also - you can't and won't time the bottom. Making hypothetical "if you just bought the exact bottom instead of buying GPUs you'd have made x% more" is a retard statement. You don't know when the bottom is. What I do know is that I paid for these fucking cards in 3 months in 2017 and they have since paid for themselves about 10 times over. That's $100,000 in profit from a $10,000 investment. I have plenty of other money to invest - but mining has been and will likely continue to be a guaranteed profit unless you hold your coins to the bottom and panic sell - which you probably do because you're a massive leaf faggot and plebbitor. Good riddance.

[Anonymous No.29941381]

>>29941113
first, I started reddit spacing because you faggots were having a lot of trouble parsing what I was saying (including you). second, I had multiple rigs with more than a dozen cards, third, yes, EVERYTHING is based on timing the market. buying a rig is timing that you aren't at the top lmao cope
>I made profits!
so did literally everyone else the last 8 months lmao cool blogpost

[Anonymous No.29941575]

>>29941381
You have contradicted yourself about 10 times. You have posted in this thread 24 times.
You are a [pic related].
Additionally - you literally CAN'T buy a rig at the top because there aren't any fucking cards available. Retard. You're such a larping shitlord. You told everyone to sell their cards when the price goes down... where did that leave you? With no fucking cards, which is why you have 4 now and didn't make fuck all this entire time. What is the point of buying cards if you are going to sell once you make ROI? You're the dumbest gorilla nigger on all of biz.

[Anonymous No.29941643]

>>29931452
Give me $100 op

[Anonymous No.29941699]

>>29941643
he hasn't paid the card off yet

[Anonymous No.29941760]

>>29941061
Yeah of course you need to know about computers.
Are you an actual, unironic clown?
I've been building my rigs since I was 16 so this kind of thing just came naturally to me. If you have no experience with PCs you will be stressing over every little issue that might come from OCing your Card to regular windows issues. Not recommended.

[Anonymous No.29941901]

>>29931452
could just take that money and stake on dHEDGE. basically a tiny fraction of the overhead and potentially similar returns.

[Anonymous No.29941924]

There is no future for GPU mining. With the exception of Ethereum all the top 10 cmc coins are ASIC-mined, proof-of-stake or tokens. And Ethereum will go proof-of-stake soon.

[Anonymous No.29942036]

>>29941760
Wow, that's incredible anon. How did you get into building them? I'm pretty knowledgeable in computer programming but I don't know much about hardware. I'm also a bit confused on what people mean when they 'build'. Are you building some compact machine similar to an antminer or putting together a set of gpus in a case? Are there any guides that you wish you had when you first started that you can share?

[Anonymous No.29942119]

>>29941924
There are literally 20 other coins I can mine at a profit right now. RVN is looking to be the next big mining coin when ETH moves to 2.0 (which is still probably over a year away)

[Anonymous No.29942129]

>>29941924
Sooo... Is asic the way to go? I have around $10k to spend and I found an asic miner that returns around $1.2k a month. Are they any good? Any good sources on where to get them? Can they be built by hand and is there anywhere to buy the parts specifically to make one?

[Anonymous No.29942239]

>>29942119
>mine at a profit right now
That's the key point. Once Ethereum mining stops what happens to profitability when all those GPUs try to mine other coins?

[Anonymous No.29942249]

>>29941924
>There is no future for GPU mining.
I would not agree with this; however; I'd say you should not buy new GPUs right now for the purposes of mining if you NEED to use the money in the next 12 months

[Anonymous No.29942301]

>>29942239
>Once Ethereum mining stops
was supposed to stop in 2018

[Anonymous No.29942353]

>>29931452
what are you mining?where can I find more info.

[Anonymous No.29942522]

>>29941575
>You told everyone to sell their cards when the price goes down... where did that leave you?
I never said this, I said sell them at the top, and I never did this either lmao if you read my posts I had to turn off my rigs during the bear
>With no fucking cards, which is why you have 4 now
I have a lot more than 4 cards kek, why did you make this assumption? the post of a shelf full of boxes? do you think that is every computer part I have ever bought or something?
>and didn't make fuck all this entire time.
nigger I am still mining lmao why are you so mad right now?

[Anonymous No.29942545]

>>29942036
Oh no I'm simply talking about assembling a PC like buying all the parts separately and building your PC step by step. Mobo in the case, followed by the RAM, your GPU and any AIOs and fans, the PSU and all the cables, routing them trough the back of the case nice and neat like, thats what most people mean when they say they "build their own PC".
https://www.youtube.com/watch?v=hK51upU5bkU

I'm very interested in breadboards though and would like to actually build the board with resistors and leds and processor and write some code for it. It seems like a fun project to me. Again though I'm weird and find this stuff is just fascinating.
https://www.youtube.com/watch?v=xBjQVxVxOxc

[Anonymous No.29942620]

>>29942249
Now that I think about it more you're probably right. As profits continue to drop most miners will stop mining and sell their rigs but a few dedicated hobby miners will continue. When most of the miners have quit the smaller coins will be profitable again and GPU mining will continue in some form. Today's crazy market will never be seen again though because crypto consensus has mostly evolved to ASIC mining and proof-of-stake while GPU mining will only be used on smaller niche coins.

[Anonymous No.29942637]

>muh electricity costs!
Just hold the ETH/coin retards. You know it's going up, just sell it later and treat the electricity cost of mining as your cost basis for buying. ALL mining is profitable if you wait long enough.

[Anonymous No.29942763]

>>29942301
Development is behind but now that staking is working the end of Ethereum mining is inevitable

[Anonymous No.29942947]

>>29942763
I am still not going to cancel my open GPU orders and I don't see a GPU sell off on ebay, heck, even the new 3070s on amazon are asking for 1600 dollars here

[Anonymous No.29942957]

>>29942353
I mine ETH using T-Rex Miner on Flexpool's mining pool. This is a VERY ROUGH guide to start mining with flexpool but I recommend looking up some YT videos on the subject

>>29942637
Yeah IDK why people make it more complicated than it has to be. My electrify bill and internet bill comes out to $200 and I made .35 ETH in that month which is worth $500 (right now). So I bought .35 ETH with $200 thats a win in my book.

[Anonymous No.29943028]

>>29942957
>>29942353
Forgot the link oops.
https://flexpool.io/en/docs/getting-started/

[Anonymous No.29943163]

Only a retard would buy a used ETH mining card. I will not work well.

[Anonymous No.29943316]

>>29943163
cards burning out is a meme, the most stressful thing to do to a gpu is to turn it on and off, mining rigs are on 24/7 so they actually see very little wear. sometimes you need to replace a fan

[Anonymous No.29943400]

>>29935522
I'm from São Paulo. Room temp is around 26~31C for the most part of the year, it's cool enough to mine with just a fan blowing cool air inside the room. During the summer the temperature ranges from 28C up to 36C and an AC is needed to cool the room if you don't like the idea of getting cooked alive.

[Anonymous No.29943529]

>>29943163
see
>>29939040
At worst you would need to replace the thermal paste or thermal pads.

[Anonymous No.29943922]

>>29942947
When Cardano gets smart contract capability Ethereum mining profits may collapse much sooner than people expect. Ethereum holders will not like this very much though.

[Anonymous No.29944010]

Need to start doing this. I live in a barracks room with no roommate and I doubt the base contractors would care to try to shut down a rig.

[Anonymous No.29944358]

>>29932421
For me it was amps being drawn. I had 6 1080s back in the day each pegging at 150watts but I was drawing 16amps. Charging the EV car at the same time the dmarc for my electricity to my house started to crackle and pop. I fried the connectors and had the utility company replace those connectors. The car was doing about 32amps

[Anonymous No.29944590]

I'm convinced that mining FUD is spread by miners to prevent new hash from coming online. I was looking at Antminers today; it's literally 100% annual ROI even if you buy from scalpers and pay residential pleb US electric rates. The price of Bitcoin would have to dump to around $7k before you lose money keeping them on.

I'm not gonna mine because it's pleb manual labor and I made it, but please niggers we can all catch you in your lies.

[Anonymous No.29946522]

>>29942036
kek

[Anonymous No.29946776]

Anyone have a 3090 and what settings do they use?
I get like 100mh/s with this but I've seen people getting a lot more, but I can't seem to get anything much higher sadly

[Anonymous No.29946921]

>>29931452
Seems like hard work the LP I'm in pays me 4000 a week and I don't have to do anything.

[Anonymous No.29947066]

I was on track for 4500 in February until last week's crash.

[Anonymous No.29947246]

>>29933247
Anyone doing nice hash? I have a similar setup that was doing 20 or so per day for the last few months but I'm getting barely half that now

[Anonymous No.29947673]

>>29947246
>>29934545
Yeah I use Nicehash, looking around for alternatives at the moment though for this same reason.

[Anonymous No.29947753]

>>29946776
Yeah something is wrong I get that on my 3080 using pic rel settings

[Anonymous No.29948162]

>>29931452
>500/mo
get fucked

[Anonymous No.29948174]

>>29946776
Settings look fine... try running the card on stock settings then applying the settings while mining, I've had that work.

[Anonymous No.29948193]

I live in Thailand. Where are some decent places to buy antminers either online or here? Is it possible to make one myself using the cheap parts sold here?

[Anonymous No.29948678]

>>29936005
how are they capable of mining with the same hash rate as multiple GPUs yet not profitable

[Anonymous No.29948704]

>>29942957
I mine ~0.07 ETH/day ($100/day), using ~55 KWh per day in electricity ($5.50/day). My rates are 0.10 per KWh. Other places are cheaper. Either way electricity is only going to cut 3-10% into your revenue. I'm amazed at how many Zoomers can't do basic math.

[Anonymous No.29948977]

>>29944590
Well, you can check it by yourself, those numbers don't seem very attractive, given the initial investment mining only seems viable for people who have (really) cheap access to GPUs.

[Anonymous No.29949054]

>>29931452
i got $90 AUD around a month using two 1070's
I don't run both devices all the time, sometimes i forgot to run them at all & I don't bother running them overnight either, usually just in the day while I work

[Anonymous No.29949057]

>>29948174
Thanks for the tip. I messed with a few bits and tweaked the settings a little. Still only getting about 106mh/s but it's a little better.
Maybe I just lost the silicon lottery and got a janky board or something.

[Anonymous No.29949061]

>>29948678
I have access to free eletricity, if this is true I'll go to hell and back to have it.

[Anonymous No.29949165]

>>29943922
Who's building on Cardano?

[Anonymous No.29949198]

>>29946776
>>29947753
Use Linux you get so much more with your mem clocks. Green with envy is p good.

[Anonymous No.29949213]

>>29943922
LOL

[Anonymous No.29949332]

>>29948678
You should really read up on the hardware bud. That's real basic stuff that shouldn't need explaining.

[Anonymous No.29949349]

Anyone hear about these new Nvidia CMP cards especially made for mining? I might have to make the move from ASICs if i can get my hands on a few

[Anonymous No.29949433]

>>29943400
Porra mano, how do you get access to cheap gpus in this hellhole?

[Anonymous No.29949868]

>>29939615
>mining monero
It's a piece of shit stablecoin that gives back nothing. Why would you ever want to mine that?

[Anonymous No.29950772]

>>29932771
>bullying children
Anon...

[Anonymous No.29950862]

>>29931845
Paid 3k for mine and they save me 600 a year

[Anonymous No.29951175]

>>29949868
It's one of the few coins you can mine with your CPU. I'm making ~$15/mo in XMR by letting my processor run when I'm not using my computer. Not anywhere near as profitable as GPU mining but money is money.

[Anonymous No.29952066]

>>29931452
And then Moore's law kicks in, difficulty rate of the coin you mine goes up and your mother wants to talk with you about an electric bill.

>Should have just bought the damn coins

[Anonymous No.29952521]

>>29952066
Read the thread it's been discussed.
>>29942637
>Just hold the ETH/coin retards. You know it's going up, just sell it later and treat the electricity cost of mining as your cost basis for buying.
>>29942957
>Yeah IDK why people make it more complicated than it has to be. My electrify bill and internet bill comes out to $200 and I made .35 ETH in that month which is worth $500 (right now). So I bought .35 ETH with $200 thats a win in my book.

[Anonymous No.29952633]

>>29931452
I must be doing something wrong with my 3080. Only get around $200 a month now, used to get ~300 before the correction.

[Anonymous No.29952647]

>>29931845
its an investment.

[Anonymous No.29952691]

>>29931943
i paid 2150 usd including tax and ship after they were released. bought on ebay new. glad i didnt wait.

[Anonymous No.29952763]

>>29952633
I just got a 3080 asus tuf OC.
Do you use gpu tweak II to manage it? What are your parameters?
I will set mine up today, very excited about it.
I will link it to binance pool and see how that is going to work out

[Anonymous No.29952776]

>>29952633
Lol it's the price and volume being down

[Anonymous No.29952892]

>>29931452
why would you as a miner be shilling mining? are you fucking retarded?

[Anonymous No.29952938]

>>29931452
I'm going to do this OP. I've been waiting to try it out, but I'm simply going to now. How do you find the most profitable thing to mine?

[Anonymous No.29952948]

>>29952763
I have EVGA FTW3, mining on ethermine with T-Rex. I googled optimal parameters and they seem to be -500 MHz Core Clock, +1200 MHz Memory Clock. It's doing 95 MH/s on average.

[Anonymous No.29952977]

>>29952776
Yeah I know, but I thought I'd get more overall, kek

[Anonymous No.29953097]

>>29931452
>Just made $500 in my first month of GPU mining
Nah you did't becaus eyou did not sum cost in electricity, your time, the depreciation on your mining rig or anything much in fact. You're just a simple tard who can't even keep a simple P/L leger.

[Anonymous No.29953718]

>>29931452
for newfags wanting to FOMO their life savings for a scalped 3090, mind you that for the MSRP price of a 3090 you could've bought 10ETH at or below 150$ which you could've done any time during 36 weeks between november '18 and april '20. If you're mining 0.33 ETH per month or 1 ETH per quarter, you need 2 and a half years to catch up with someone who didn't even bought the absolute bottom. Factor in difficulty increases, scalped prices, electricity expenses and other hardware you might need to purchase (like PSU) and calculate how better or worse you are against the rest of the players in the market who've been here before you.

t. miner for 4 years, glad that I spent the money on DCAing < 150$ ETH instead of increasing my operation with a couple more Turing GPUs. Also glad that I mined 20k RVN in 2018 with a single 1060 rather than 0,05 ETH, worth 2ETH at current prices. Learn the game and be a player, or you'll be played.

[Anonymous No.29953752]

>>29953097
>your time
yeah hate that punch card system requiring you to shuffle billions of cards a second manually

[Anonymous No.29953805]

>>29953718
I made 50 dollars last week doing literally nothing, thats 50 dollars more than the govenrment sent me, and on top of it I don't have to pay taxes on it

[Anonymous No.29953816]

>>29953718
Does RVN still pays to mine?

[Anonymous No.29953907]

>>29953718
>for newfags wanting to FOMO their life savings for a scalped 3090
*cough* tax deductible *cough*

[Anonymous No.29954017]

>>29953907
that said 3090 is way overpriced for performance, I got my eyes on 3060 TIs waiting for the CMP cards

[Anonymous No.29954035]

Uh, anons, I live in project housing. I’m pretty sure we don’t have to pay for electricity, but I’m really really retarded, like I don’t know how anything in this world functions. If so, can I mine coins without any downside or something? Again, I’m a complete retard autist lmk if I’m asking a stupid question

[Anonymous No.29954495]

>>29936783
What did you pay for those at the time and were you able to turn a profit in the bear market? What are you making monthly now and what are the electric costs. Those cards are like 1000-1100 now

[Anonymous No.29955119]

It's almost as if bitcoin has gone parabolic

[Anonymous No.29955130]

>>29954035
If you already have the GPUs there is no downside.

If you need to buy the GPUs, you need to decide if you want to spend $1200 on a GPU that makes $4/day currently, with the following on the horizon:

(1) EIP 1559 cutting into miners profits
(2) ETH 2.0 getting rid of mining completely
(3) ETH price crashing

[Anonymous No.29955341]

Just scalp your GPU for instant cash, by the time you recoup the cost of the card you bought and go into a profit the bull run might end.

[Anonymous No.29955576]

>>29955130
>>29955341
there are no used cards on ebay for reasonable prices, no one is selling or everyone is buying

[Anonymous No.29956462]

>>29931452
no we didn't tell you it was unprofitable. larp less faggot