Why you SHOULD NOT MINE Ethereum now with more rigs

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  • Marvell9Marvell9 Member Posts: 593 ✭✭✭
    shutfu said:

    i didnt think i was going to get into mining, but i found some sweet deals

    New in Box thermaltake toughpower 1275watt 80+ platinum = 100$
    XFX r9 280x (lifetime warranty) = 110$
    HIS r9 280 = 80$
    HIS r9 290 = 180$
    so a total of 470$ for ~67 mh/s after undervolting

    I probably won't make my money back, but I can likely sell the hardware for near what I paid for it in a few months. Everything is running really cool too.

    I also plan on buying 500$ worth of eth over the next few weeks. coinbase only lets me buy 50$ a day, and takes 3-5 days to get it to me, then i have to transfer to kraken. I'm guessing I probably should have just invested the 1000$ in eth instead of doing half and half.

    Power is .07kWh here in texas

    What do u mean lifetime warranty there's no such thing
  • dittoditto Member Posts: 139 ✭✭
    edited May 2016
    Marvell9 said:

    syaoran99 said:

    Also, for those out there who might still think of competing for mining profits, you might find this interesting as to how your mining profits are going to be severely reduced.

    http://www.coinfox.info/news/company/5477-genesis-mining-zapuskaet-enigma-samoe-krupnoe-predpriyatie-po-dobyche-ether-v-mire-2

    Genesis has now officially set it's sights on Ethereum mining and is going to open the world's largest ETH mining farm :smile:

    Good luck with difficulty! And here's to I TOLD YOU SO. Better if you bought ETH when it was 7 USD than got yourself doomed with rigs that can't mine the same amount of ETH as you would have gotten buying ETH at 7USD with that money for rigs plus running costs lol.

    Shortly Pascals are going to be released with half the energy double the power. Basically 2x NANO for one card are going to be released. Making your current cards worthless for resale too lol. What is your 280x 390 and such going to be worth then lol. Pennies.

    Pascals are no where near 2x nanos it actually might equal nano performance at the same price point actually higher as new cards tend to be priced higher than msrp
    I wonder if this idiot syaoran99 forgot he started this thread April 16th

    Literally he has been wrong in every possible way. :D

    I told you so, syaoran99 - you were wrong and STILL wrong. :)

    Some people will never learn.
  • syaoran99syaoran99 Member Posts: 204
    edited May 2016
    ditto said:

    Marvell9 said:

    syaoran99 said:

    Also, for those out there who might still think of competing for mining profits, you might find this interesting as to how your mining profits are going to be severely reduced.

    http://www.coinfox.info/news/company/5477-genesis-mining-zapuskaet-enigma-samoe-krupnoe-predpriyatie-po-dobyche-ether-v-mire-2

    Genesis has now officially set it's sights on Ethereum mining and is going to open the world's largest ETH mining farm :smile:

    Good luck with difficulty! And here's to I TOLD YOU SO. Better if you bought ETH when it was 7 USD than got yourself doomed with rigs that can't mine the same amount of ETH as you would have gotten buying ETH at 7USD with that money for rigs plus running costs lol.

    Shortly Pascals are going to be released with half the energy double the power. Basically 2x NANO for one card are going to be released. Making your current cards worthless for resale too lol. What is your 280x 390 and such going to be worth then lol. Pennies.

    Pascals are no where near 2x nanos it actually might equal nano performance at the same price point actually higher as new cards tend to be priced higher than msrp
    I wonder if this idiot syaoran99 forgot he started this thread April 16th

    Literally he has been wrong in every possible way. :D

    I told you so, syaoran99 - you were wrong and STILL wrong. :)

    Some people will never learn.
    I've thought about it and I've decided I'm selling my cards and since my rented premises is from my partner's relative I'm able to opt out at any point of time where it becomes less profitable

    The way things are going, I've managed to make more money through trading than I do through mining in my personal situation. Plus I will be able to get more ETH immediately than I will from mining for the next 365 days with the money gained from selling my cards. Hence the decision to sell my gear:dizzy:

    Anyone who's interested in getting Used R9 390, R9 380, R9 280x, HD 7990, HD 7970 and HD 7950 from me and supporting @ditto and his mining profitability scheme thinggy please don't hesitate to send me a private message. Details will be discussed there.
  • greenusergreenuser 50.8862°N 4.5537°WMember Posts: 439 ✭✭
    Thanks syaoran99 but i think i will pass on your GPU cards right now.... I have been doing some reading on a forum that goes out to the whole world and.....

    "you SHOULD NOT MINE Ethereum now with more rigs",


    its just too speculative.
  • workwork Member Posts: 2,084 ✭✭✭✭
  • o0ragman0oo0ragman0o Member, Moderator Posts: 1,291 mod
    syaoran99 said:

    ...
    Shortly Pascals are going to be released with half the energy double the power. Basically 2x NANO for one card are going to be released. Making your current cards worthless for resale too lol. What is your 280x 390 and such going to be worth then lol. Pennies.

    Just catching up on some threads...

    @syaoran99, The Pascals don't address the Translation Lookaside Buffer problem that has crippled the Maxwells, so they're still going to be crap cards to mine with regardless of power usage.

  • Marvell9Marvell9 Member Posts: 593 ✭✭✭
    work said:

    @Marvell9 XFX has lifetime warranty on some of their GPUs. http://xfxforce.com/en-us/support/xfx-warranty

    Ahh seems like a legacy thing good to know thanks
  • dittoditto Member Posts: 139 ✭✭
    syaoran99 said:

    ditto said:

    Marvell9 said:

    syaoran99 said:

    Also, for those out there who might still think of competing for mining profits, you might find this interesting as to how your mining profits are going to be severely reduced.

    http://www.coinfox.info/news/company/5477-genesis-mining-zapuskaet-enigma-samoe-krupnoe-predpriyatie-po-dobyche-ether-v-mire-2

    Genesis has now officially set it's sights on Ethereum mining and is going to open the world's largest ETH mining farm :smile:

    Good luck with difficulty! And here's to I TOLD YOU SO. Better if you bought ETH when it was 7 USD than got yourself doomed with rigs that can't mine the same amount of ETH as you would have gotten buying ETH at 7USD with that money for rigs plus running costs lol.

    Shortly Pascals are going to be released with half the energy double the power. Basically 2x NANO for one card are going to be released. Making your current cards worthless for resale too lol. What is your 280x 390 and such going to be worth then lol. Pennies.

    Pascals are no where near 2x nanos it actually might equal nano performance at the same price point actually higher as new cards tend to be priced higher than msrp
    I wonder if this idiot syaoran99 forgot he started this thread April 16th

    Literally he has been wrong in every possible way. :D

    I told you so, syaoran99 - you were wrong and STILL wrong. :)

    Some people will never learn.
    I've thought about it and I've decided I'm selling my cards and since my rented premises is from my partner's relative I'm able to opt out at any point of time where it becomes less profitable

    The way things are going, I've managed to make more money through trading than I do through mining in my personal situation. Plus I will be able to get more ETH immediately than I will from mining for the next 365 days with the money gained from selling my cards. Hence the decision to sell my gear:dizzy:

    Anyone who's interested in getting Used R9 390, R9 380, R9 280x, HD 7990, HD 7970 and HD 7950 from me and supporting @ditto and his mining profitability scheme thinggy please don't hesitate to send me a private message. Details will be discussed there.
    And? You can trade great for you, that still takes away from the point - you telling people not to mine - and just being flat out wrong about it.

    Solution? Oh just tell everyone to be a pro trader like you right? Yeah that will for sure lose peoples money. Idiot.
  • o0ragman0oo0ragman0o Member, Moderator Posts: 1,291 mod
    @ditto, my guess is a pro trader wouldn't have stepped out at 15% before the very predictable DAO induced pump peaked, just to play computer games.... I know I haven't.
  • dlehenkydlehenky Member Posts: 2,249 ✭✭✭✭
    edited May 2016
    @o0ragman0o Aren't we playing computer games? :) Seems like a lot of fun to me!
    Post edited by dlehenky on
  • greenusergreenuser 50.8862°N 4.5537°WMember Posts: 439 ✭✭
  • o0ragman0oo0ragman0o Member, Moderator Posts: 1,291 mod
    greenuser said:

    Solitare?

    Wonder what the frame rate would be for his two Pro DUO's? ;)
  • hasherhasher Member Posts: 642 ✭✭✭
    @shutfu why don't you just buy bitcoin from localbitcoins.com and then send your bitcoins to an exchange like btce and trade btc for eth? easier quicker and faster in my opinion.
  • shutfushutfu Member Posts: 320 ✭✭
    @hasher all of the people selling bitcoin on local bitcoin sell it for considerably more than the market rate, at least near me. 40$+ more
  • bluelogicbluelogic Member Posts: 86
    edited November 2016
    You should mine right now. If you live in the USA it is the holidays. If you are a premier member and buy RX 470 cards off Newegg you can return them with NO restock fee and free shipping by Jan 31,2017 if you don't like the outcome. You can literally make a few hundred dollars.
  • Zelo533Zelo533 Member Posts: 1
    edited April 2017
    doing what OP said would've made me 300k$ :dizzy:
  • narba88narba88 Member Posts: 85
    syaoran99 said:

    ditto said:

    Marvell9 said:

    syaoran99 said:

    Also, for those out there who might still think of competing for mining profits, you might find this interesting as to how your mining profits are going to be severely reduced.

    http://www.coinfox.info/news/company/5477-genesis-mining-zapuskaet-enigma-samoe-krupnoe-predpriyatie-po-dobyche-ether-v-mire-2

    Genesis has now officially set it's sights on Ethereum mining and is going to open the world's largest ETH mining farm :smile:

    Good luck with difficulty! And here's to I TOLD YOU SO. Better if you bought ETH when it was 7 USD than got yourself doomed with rigs that can't mine the same amount of ETH as you would have gotten buying ETH at 7USD with that money for rigs plus running costs lol.

    Shortly Pascals are going to be released with half the energy double the power. Basically 2x NANO for one card are going to be released. Making your current cards worthless for resale too lol. What is your 280x 390 and such going to be worth then lol. Pennies.

    Pascals are no where near 2x nanos it actually might equal nano performance at the same price point actually higher as new cards tend to be priced higher than msrp
    I wonder if this idiot syaoran99 forgot he started this thread April 16th

    Literally he has been wrong in every possible way. :D

    I told you so, syaoran99 - you were wrong and STILL wrong. :)

    Some people will never learn.
    I've thought about it and I've decided I'm selling my cards and since my rented premises is from my partner's relative I'm able to opt out at any point of time where it becomes less profitable

    The way things are going, I've managed to make more money through trading than I do through mining in my personal situation. Plus I will be able to get more ETH immediately than I will from mining for the next 365 days with the money gained from selling my cards. Hence the decision to sell my gear:dizzy:

    Anyone who's interested in getting Used R9 390, R9 380, R9 280x, HD 7990, HD 7970 and HD 7950 from me and supporting @ditto and his mining profitability scheme thinggy please don't hesitate to send me a private message. Details will be discussed there.

    Ill give you $5 for the lot. Send first. :wink:
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