Crypto currency miners buy out all the R9 280X in 2013

>Crypto currency miners buy out all the R9 280X in 2013
>They actually end of losing money
>Crypto currency miners buy out all the RX 480 in 2017
>The actually end up losing money

Yeah and I have to wait month for fucking 580pulse because of this bullshit.

Fuck'em

The real winner is AMD

i'm so glad i bought my sapphire rx 580 limited edition on newegg at normal msrp three weeks before eth mining exploded. these miners are a double edge sword. on one hand they give amd and board partners money. on the other hand it keeps cards out of their targeted demographic, pushes gamers to nvidia for being out of stock for so long, and gives amd a bad rep.

honestly, i think miners are just straight bad for amd.

>mining crypto
expect to never make any money regardless

AMD should just add a fuck you function if people try to mine cryptocoins on them.
Keeping them out of the hands of people who use them for gaming (IE their primary market) is bad for their business.
If they want to mine buttcoin get the fucking AMD compute cards that they sell

Why can't they just make more?

Is now the time to sell my 295x2? The thing sounds like it's about ready to die...

By the time that they adjust their production outputs, the demand might have gone back to normal.

Bitcoin will rise like spaceship you dumb retard.

>He didn't mine fat stacks of Doge in the first days on Sup Forums

Then just buy the fucking coins directly. There's no need to jump through the hoops of mining them. The return on the investment is also practically instant. Price goes up 10%, your 1000 investment has turned into a 100 dollar return. Price goes upp 100%, that's 1000 dollars in return.

Meanwhile if you buy mining hardware for 1000 dollars, maybe you'll see a 1% return on the investment in a year and if all of that was thanks to a rise in value then you'll really could have just bought the coins a year ago and made hundreds if not thousands of dollars more.

not really, surveys and marketshare charts will show nvidia numbers growing and their mindshare will go with it

>not knowing what eth is

Seeing these price absolute hell. Good thing I got an RX 480 for $180(tax + shipping included)

Can someone redpill me on mining? Is it worth it? How does it exactly work?

TL;DR weather you make a profit depends on your electricity cost.

In the US the average price per kilowatt hour is 12 cents. In the EU it is 23 cents. In some parts of China it is 3 cents.

If you live in a place with no metered electricity rate (ie college dorm room) you are golden.

I live in a third world country where electricity is like $200 per month for full house

Then you're fucked. But really, hardly anyone ever actually sees a return on their mining investment. Like said, just buy the coins directly and sell when you've made a proifit or you've lost too much money.

It's not worth it, its only use is to launder money.
Ie. you rent a mining rig for your illegally gained coins and mine fresh ones not connected to the illegal ones.
You lose a lot of money in the process, especially if you route the mining rig traffic through a torified mining proxy or similar.

At that price wouldn't it be better to buy 1070 for mining?

It's definitely worth it but only if you want to invest in crypto. If you just want to quickly cash out to fiat then it's not as efficient. I'm assuming the posters saying it's not worth it haven't actually researched it recently.

Look into some crypto/mining sites and calculators and you can see for yourself if it is worth it in your situation.

>mining
>2017

yeah just fucking buy coins.

I would say paying much over 350 USD per 480 is probably too much but it depends on electric cost for you. Buy yes, 1060s and 1070s are quite good for some algorithms and you can even dual mine on them now.

>TL;DR weather you make a profit depends on your electricity cost.
your profit depends on how long you're will to hold them.

You can now sell your RX 480 used for $300-350 on eBay, buy a GTX 1060, and enjoy your remaining profit.

Thanks anons

I might unironically do this

>AMDrone begging AMD to give him less freedom to do as he wishes with hardware he owns

They still win though. They have a market that will definitely buy cards they release. There's nothing better than guaranteed sales.

Have just realised that if I sell my RX 480 for some quick money I'll lose freesync if I move to 1060.

Is this price spike affecting RX 470 as well? My 480 is overkill for my use so could always take a step down

Check if you can find a single RX 470 for sale online. If you can't they're all gone.

Still waiting for the 590. June 27 still on?

If you talking about big Vega then no, it's supposed to release at the end of July.

>still buying AMD after Maxwell introduced LOP3.LUT
retards

>Still shilling for Novideo
retard

What the fuck are you talking about? The rx480 pays for itself in less than two months assuming the price of ETH doesn't go up (and it will).
After the initial two months it's just mining you free coins, and you can still buy more with your existing fiat.

>The rx480 pays for itself in less than two months assuming the price of ETH doesn't go up (and it will).

Except you gotta pay for all the other hardware as well and then hope that in the next 2 months the price doesn't collapse and your power bill needs to be managable and so on.And difficulty needs to at least not grow too fast and so on.

And you better hope nobody develops ASICS for eth because then your hardware literally becomes worthless.

>it's just mining you free coins

rx480s at 100% utilization run off of goodwill or something?

>I have autism, here's why...

Except you'll never find one at that price point today. We're talking at least 3 months and if the price crashes to half of where it is at the moment, you'll be looking at 6 months and if the difficulty increases as well then you might have to wait a year or infinity because you'll be mining less than your power costs.

I mean, this stuff always looks good on paper but once you really look at the costs and risks, you realize that most of the time you're just taking a massive gamble.

>Except you gotta pay for all the other hardware as well
The actual return of investment time on the GPU itself is 48 days, and when you have a mining rig with 6 $250 GPUs the two $100 power supplies, the $80 motherboard $60 CPU and 4gb ram don't seem like huge % bumps in price.
>ASICs
ETH is ASIC resistant.
>power bill
It's already calculated in at $0.1/KW/h
>difficulty
The price rises with difficulty
>paying $10 a month for electricity and in turn getting 0.74 ETH (currently valued at $164) can somehow not be classified as "mining free coins"
Why do you people insist on having this obnoxious "bursting your bubble" tone when talking about things you don't understand/have sufficient information about?

How many people actually look at their electricity bill and calculate all the kWh used to see if its worth it?

>if the price crashes to half of where it is at the moment
This will not happen, and if it did the following would happen
>ETH price plummets and mining becomes less profitable
>many miners jump ship and switch to mining ETC/ZEC
>network hashrate goes down
>miners get more coins for the same hashrate
>ETH price goes up some time later
Short term swings are risky and it can be a bit of a gamble, but ETH will stick around and be worth multiple times the current price in a few years.

ETH is gonna switch to PoS this august. So you can expect ETC to spike very soon.

Do you think I should switch to ETC now? My idea was to mine as much ETH as possible before they switch to PoS, but I haven't thought about the entirety of the ETH mining network having to switch to other coins. Now I'm thinking we might see a huge rise in the ETC network hashrate when that happens, so it might be smart to switch now and get a bit of a head start

So why is ETH booming right now? Seems like there is some legit market forces driving it wihin the tech industry that isn't just "LOL BUY MY BLACK TULIPS"

Same thing that happened to butt coin. Advertising.

(((they))) are standing behind it. jp morgan, citi bank, intel, ing, microsoft, the national bank of canada, samsung and toyota are all members of the ethereum enterprise alliance
honestly this is a huge red flag concerning the viability of ETH as a currency, but it was never intended to be one anyway

miners are pure cancer kys

This is why CUDA and every other NVidia proprietary solution is winning.

Why aren't people rentibg their gpu power to actually do something useful
Like ressearch etc like folding home stuff on the ps3

>Buy AMD 5970 mine bitcoins
>Buy AMD r290x mine dogecoin
I'm up about 30k USD, only mined for a few weeks then used them to play video games, who's laughing now?

Increasing your income by a few hundred bucks a month is objectively useful.

Because doing whatever gives the most return and using the returns on that to do whatever you want is much more efficient.

>want to mine eth
>stuck with gtx 770
oh well

>tfw mining ethereum with my RX 480 and making enough to buy a RX 480 every month
stay jealous poorfags :^)

Will minetards buy muh r9 390° housefire so I can get a 1070?

You actually cashed that shit out?

Yet another reason to buy Nvidia.

mining with an nvidia card..

you will probably mine salt instead of coins with them

Newfriend here

>mining ethereum

What is this? I know it is a crypto currency, something, comparable to BCs?

What can you even buy with Ethereum coins or whatever it is called, other than drugs?

It's no use if it stays a digital number, and I cannot get real world goods for it.

>mine ethereum
>transfer to crypto exchange
>buy btc
>buy electronics from newegg or cash out at a btc atm or coinbase
>you now have either expensive electronics or fiat money which is a jewish scam but it still buys you things

Not feasible here in Europe.

>electricity is expensive, 30Cent/kWh
>no newegg or anything, BTCs not really accepted anywhere

primary? everything they ship is primary there is no secondary or third or whatever

>salt
Can you explain this?

Complaining about something that is obviously good and isn't popular yet is stupid, user.

And no, to answer your question, there isn't a real reason to mine for someone like you right now.

I'm about to turn 20 racks of servers into monero miners, $0.02 kw/h.

if you want to stay poor because you couldn't bother to actually look things up be my guest

Nvidia 10X0 cards are extremely good at Zcash mining

So how the fuck do you mine ETH???

Every site I've found is some shady ass shit I wouldn't trust.

Can I sell my rx470 for a good price?

>GPUMiners
Seems right. The mainstream cryptocurrencies are dead, as ASIC and cloudmining are both centralizing the currency mines.

Just check ebay.

Nvidia makes double the money and locks people into their products with gsync as well. AMD is only shooting themselves in the foot in the long run.

>mined 0.11 ETH
>listed it for sale
>a week later no one is willing to pay $25 for it
I wouldn't even make $25, I wasted probably $20 of electricity... What are these cryptominers thinking?

Unless you have an entire room filled with RX580s you are not making 30k in a few weeks. You honestly need 10 RX 580 to make less than a grand. Not to mention how much electricity/bandwidth you are wasting.

this, besides you are just fronting the bill to your ISP and electric company/land owner.

IF they wised up they could charge you more,etc

>less than a grand
I forgot to add: "in a month."

Another thing that is hilarious is there are countless videos on youtube saying how awesome cryptocurrencies are and how they are now billionaires. Except for everyone that posted them they are still living out of a fucking shed.

When you have a limited amount of something in circulation then they can only increase their hypothetical value. However when people stop trading it because there is only $22 million in total it becomes useless and no one is willing to pay real money for 'limited edition' monopoly money.

how are you even thinking about making money with the current hash rate (unless you are mining some obscure shitcoin)? I thought even ASICs weren't useful anymore in small quantities

Ethereum doesn't have any ASICs. You can just buy a GPU and mine on that. At this rate and value, most AMD cards pay for themselves after just two months depending on your power bill.

>Ethereum
ahh ok, so is this the latest pump and dump meme

Is that why there were so few rx480s lately?

I feel like I'm lucky to have mine. Wanted the reference model because much aesthetics but need the extra fans man

buttcoin mining/investing is just a stupid get rich quick scheme for fucking washed up losers, shit never pays off and is just b8 to get people to work to bring the currency into circulation and others benefit massively from your mining

...

hope u cashed out already

>put in $350 fiat four months ago since I'm a broke college student
>already cashed out $500 and I have 0.36 btc as well
>somehow I'm losing here

That'd probably be worth a good $35 now!

The board where everyone talks about mining...but absolutely nobody actually does it.

We know because nobody here can describe how to do it.

>Is it worth it
depends on the timing
back when dogecoin first came out I was mining from day one
the value kept going up and I had over 10 million doge just from mining on my 7970
with that money I bought 8 290X GPUs and was mining like crazy
it slowed down a lot after a month or so, but by the end I had made ~$60000.
would've made more if I had cashed out before mt gox crash, but I kept it because value of both DOGE and BTC kept going up until then.

That and >muh power consumption so Sup Forums actually refuses to run their gpu full tilt for weeks on end. I boinc with my custom cooled 290x because i'd rather it do something than sit idle when i'm not using my pc.

Reading thru the thread, I guess I'll give ethereum mining a try, and hopefully get enough money to replace my gtx 570, hopefully the poor old bitch won't die trying. Interesting that you can purchase stuff from newegg.

You're clueless, you could get millions of Doge in the early days. 1M Doge = $3,000 USD today.

It will take you years to get anything out of a gtx 570. For most pools the minimum is 0.2. You won't even be able to cash it out.

How do you mine ethereum??? Nobody on g fucking knows...

0.2 on a 570 would be a couple weeks at worst if the difficulty doesn't suddenly swing drastically. It's just a question if such small gains are worth it to him.

>Nobody will spoon-feed me so nobody knows how!

Oh fug a GTX 570 not an RX 570, nevermind. Don't do that.

It's significantly easier to just buy $500 worth of ETH and sit on it. Chances are it's financially a smarter move too compared to mining at this point.

>If you live in a place with no metered electricity rate (ie college dorm room) you are golden
My college threatened to bill me because I had 3 fridges

I doubt you can just run 10 GPUs 24/7 and go unnoticed

Google it you fucking cryptokike