An update for you.
Pretty much everything except the GPUs, will be ordered from mikescomputershop, at approximately $1500 after taxes.
6 1080ti, if I can buy all of the same type; will be around $7000-$8000.
Jan 9th, 2018 10:22 pm
An update for you.
Jan 9th, 2018 10:35 pm
Thanks. Right now I'm still on the fence whether or not to use $8k to set up a mining rig or just use the $8k and buy coins. My thinking is that a mining rig is safer as you get physical hardware you can sell later. Plus, I think there's always going to be another round of crazed mining later on too. I also need to see if nicehash is also the best way to do it as some people suggest joining a eth pool like nanopool nets better returns.
Jan 9th, 2018 10:37 pm
I think they are capping production to prevent a massive drop in value of their cards. Heard from a retailer there is now a massive worldwide shortage and manufacturers aren't making more to satisfy the demand, and simply raising prices instead. This should be better as with a higher price, the decrease won't be as bad but who knows.coriolis wrote: ↑Jan 9th, 2018 10:00 pmWell, GPUs will still be worth something, because there is still a demand for them, for gamers and such. However, when that happens, there will be a mass exodus of these cards. This whole mining craze is resulting in the overproduction of video cards and RAM, there are warehouses out there with thousands of cards.
It's really hard to estimate what will happen. Video card prices, like all technology, depreciate quickly. But this mining phenomena is creating huge influx of production of these cards, not for its intended purposes. How long will it last? What happens then? No one knows because this has never happened before.
Also, to add, this is definitely good for business, especially nVidia and AMD, and its vendor manufacturers, but how high will this go? Will it reach a point where GPU mining is dead and there are hundreds of thousand of cards that are not in use. What then?
This is why the 1080ti is a popular option, even with its price tag that hasn't moved, instead, above MSRP. It's one of the most expensive, but also has the best return. If mining dies, its still a top end video card that can be used for other things, and should hold more value then the 3gb 1060 for example. There will be hundreds of these cards going on sale on Kijiji, whos going to buy them? Gamers, sure, many of them will definitely upgrade, but outside that, its scary to think what kind of aftermath will result in the industry and the used market, that is if it happens. It is definitely interesting development that will have books written about this in the future.
Jan 9th, 2018 10:53 pm
I mined ETH for a little while when nicehash was down, its not even close. The best other option other than nicehash would be MiningPoolHub from my experience.bomber17 wrote: ↑Jan 9th, 2018 10:35 pmThanks. Right now I'm still on the fence whether or not to use $8k to set up a mining rig or just use the $8k and buy coins. My thinking is that a mining rig is safer as you get physical hardware you can sell later. Plus, I think there's always going to be another round of crazed mining later on too. I also need to see if nicehash is also the best way to do it as some people suggest joining a eth pool like nanopool nets better returns.
Jan 9th, 2018 11:15 pm
How long do you think we can keep mining until it's not profitable anymore?barrette123 wrote: ↑Jan 9th, 2018 10:53 pmI mined ETH for a little while when nicehash was down, its not even close. The best other option other than nicehash would be MiningPoolHub from my experience.
I really highly doubt there will be any other craze of mining in the future, as Proof of Work is really fading out, getting replaced by Proof of Work, DAG or any other types of Proof of *insert anything*. In a 2-3 years i doubt that all the altcoins (most of them shitcoins) being mined right now when renting your GPUs on nicehash will be worth anything. Probably only BTC will stay Proof of Work, even BTC with lightning network removing TX fees to miner and reward halvings, mining profit will probably lower alot (doesnt matter for GPUs as they dont mine BTC anyway)
Jan 9th, 2018 11:22 pm
How long do you think you will live? Theres absolutely no accurate estimation on how long you can keep mining until it's not profitable. Just keep mining if it isn't. I made that mistakes back in 2011 when I stopped mining bitcoin, just because it became unprofitable.
Jan 9th, 2018 11:43 pm
Right now its pretty hard to say. Mining is so profitable at the moment because the altcoin market is so irrational. We are mining tons of overvalued coins trying to be the next bitcoin, and when the cryptocurrency space matures and get real world usage and adoption, 99% of those coins will go from 10M-500M market cap to 0$. I mean Dogecoin is valued at 1Billion dollar right now. Complete nonsense. In the meantime, people are willing to pay us in BTC to mine those coins for them so everyone is happy.
Jan 10th, 2018 12:39 am
I added up all the parts and it adds up to $1200 after taxes. What did you order differently?
Jan 10th, 2018 12:53 am
Jan 10th, 2018 6:22 am
I went with the Asus B250 MINING EXPERT Desktop Motherboard - Intel Chipset - Socket H4 LGA-1151 ( B250 MINING EXPERT ) at $329.99 and Windows 10 Home 64-bit at $119.99.bomber17 wrote: ↑Jan 10th, 2018 12:39 amI added up all the parts and it adds up to $1200 after taxes. What did you order differently?
Open Air MinerPark - Frame Mining Rig Case For 6 GPU - Stackable 199.99
Asus PRIME Z270-P Desktop Motherboard with 6 x PCI-E Slots (PRIME Z270-P) 179.99
Crucial 4GB DDR4 2133 Desktop Memory 64.99
Intel Skylake Pentium G4400 3.30GHz Dual-core Processor - 3MB Cache LGA 1151 86.00
Kingston SSDNow UV400 120GB 2.5" Internal Solid State Drive (SUV400S37/120G) 67.99
2x EVGA SuperNOVA 850 G3 Power Supply (220-G3-0850-X1) 387.98
Dual PSU 24pin ATX Motherboard 20+4Pin Connector Cable 30cm 14.99
*6-PACK* USB 3.0 PCI-E Powered Riser Card W/ Extender Cable 1x to 16x v.006c, 4 Solid CAPS. 90 Day Warranty 69.99
My province is 12% tax.
Jan 10th, 2018 6:25 am
Your GPU, based on the closest card I can find on Nicehash calculator, will generate you USD $55/month.
Jan 10th, 2018 7:35 am
I would not recommend a 2GB VRAM card as it limits your options to mine since bigger difficulty coins will require larger VRAM. You can still mine but only on low difficulty coins which may not give you the most profit.
Jan 10th, 2018 3:15 pm
Jan 10th, 2018 3:20 pm
You will be hashing whatever coin is most profitable, but in the end, you will only be paid in bitcoin, if you use Nicehash. There are other methods and places to mine that can payout in other coins, but you have to do your own research for that.
Jan 10th, 2018 4:21 pm
https://www.reddit.com/r/NiceHash/comme ... h_gtx_950/