Mining Rigs

[Flex]

Well I jumped onto the train, but refused to over pay for hardware. So this is my Franken Miner!
I used cut off material lying around to make the frame, so please be gentle!


Any other guys here with some mining rigs?

It is scary for me to see how much some people are spending on these rigs, I think it is more the fact that they are over paying sooooo much for hardware that is fascinating me. People spending 8K +- on a 1060 and think that it is a good price Scary.

I enjoy my little rig, and it is fun to build and watch it do it's thing.

 

[FarligOpptreden]

I'm not that invested yet and doubt I will become, seeing as how profitability is effectively declining each day now. Still, I attribute my new 1080 to "mining", which would allow me to do ultra 1080p at 60Hz gaming for the next couple of years...


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[Flex]

I'm not that invested yet and doubt I will become, seeing as how profitability is effectively declining each day now. Still, I attribute my new 1080 to "mining", which would allow me to do ultra 1080p at 60Hz gaming for the next couple of years...


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Declining? Far from that in fact

 

[czc]

I wouldn't jump in now, thats not advice thats talking about me personally.

 

[ArchieChoke]

Always been interested, however doing research looked like it wasn't a very promising way to earn bucks, due to cost per kw vs output currency. Most said its a fun way to learn.

 

[Flex]

I wouldn't jump in now, thats not advice thats talking about me personally.

especially with AMD yes, and small gb cards. Becuase that is the problem. People are selling their 4gb AMD cards. People then buy them thinking they will mine for a long time, but soon 4gb cards won't be able to mine much at all. I am very happy with my rigs return at this stage. Pulling about 550W, and getting about R700 every Tuesday at this stage.

 

[Solitude]

especially with AMD yes, and small gb cards. Becuase that is the problem. People are selling their 4gb AMD cards. People then buy them thinking they will mine for a long time, but soon 4gb cards won't be able to mine much at all. I am very happy with my rigs return at this stage. Pulling about 550W, and getting about R700 every Tuesday at this stage.

Those are some impressive figures!

 

[FarligOpptreden]

Declining? Far from that in fact

Quite accurate, in fact. I took the liberty of superimposing a line indicating the decline over my Nicehash profitability chart of the past week. You'll notice there is a definite decline in profitability, and that was without auto-switching algorithms. I purposefully chose the most profitable coins to mine and immediately switched over when I saw one declining. For the most part it was mining Equihash, with some Lbry and Lyra2REV2 thrown in for good measure. There rest of the coins aren't worth the effort on a 1080...

 

[Flex]

Quite accurate, in fact. I took the liberty of superimposing a line indicating the decline over my Nicehash profitability chart of the past week. You'll notice there is a definite decline in profitability, and that was without auto-switching algorithms. I purposefully chose the most profitable coins to mine and immediately switched over when I saw one declining. For the most part it was mining Equihash, with some Lbry and Lyra2REV2 thrown in for good measure. There rest of the coins aren't worth the effort on a 1080...


View attachment 24577

That is you problem, the 1080 is terrible at mining, My profitability has stayed quite stable. The decline you are showing was also with the bitcoin that decline badly. already busy recovering again. Just looking at 1 gpu mining especially it being a 1080 is not a good indication at all. For me, at this stage, my rig is still very profitable indeed

 

[StrontiumDog]

[MENTION=16362]Flex[/MENTION], what cards are in your rig?

 

[Flex]

[MENTION=16362]Flex[/MENTION], what cards are in your rig?

2 x 1070, 1 x 1050ti. And then my 1080ti that I have been waiting months for should be arriving in a week or so

 

[FarligOpptreden]

That is you problem, the 1080 is terrible at mining, My profitability has stayed quite stable. The decline you are showing was also with the bitcoin that decline badly. already busy recovering again. Just looking at 1 gpu mining especially it being a 1080 is not a good indication at all. For me, at this stage, my rig is still very profitable indeed

Sorry man, but there is a definite decline in profitability in the mining market. Below is the profitability over the past 7 days from Nicehash for the 1070 (and below that the profitability for the past month). There is clearly a decline. I did the same for multiple GPUs, including the darlings of mining, the RX range. They all indicate a decline in profitability across all coins. It's simple economics - the higher the supply, the lower the margins. Seeing as there's an influx of miners world wide, the margins are lowering almost daily. Yes, there might be fluctuations each day, but the general direction is downwards.

 

[Flex]

Sorry man, but there is a definite decline in profitability in the mining market. Below is the profitability over the past 7 days from Nicehash for the 1070 (and below that the profitability for the past month). There is clearly a decline. I did the same for multiple GPUs, including the darlings of mining, the RX range. They all indicate a decline in profitability across all coins. It's simple economics - the higher the supply, the lower the margins. Seeing as there's an influx of miners world wide, the margins are lowering almost daily. Yes, there might be fluctuations each day, but the general direction is downwards.

View attachment 24585

Did not say there is no decline. Thay is obvious yes . It is still profitable

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[FarligOpptreden]

I'm not that invested yet and doubt I will become, seeing as how profitability is effectively declining each day now. Still, I attribute my new 1080 to "mining", which would allow me to do ultra 1080p at 60Hz gaming for the next couple of years...

Declining? Far from that in fact

Did not say there is no decline. Thay is obvious yes . It is still profitable

I could argue that you did say there is no decline, but the conversation trail above proves there is no point arguing.

 

[Flex]

I could argue that you did say there is no decline, but the conversation trail above proves there is no point arguing.

I am on my phone and cant scroll back to everything. Whu not take a graph of 2 years +- and not from 29 june?

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[FarligOpptreden]

I am on my phone and cant scroll back to everything. Whu not take a graph of 2 years +- and not from 29 june?

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Because there's no point going back that far now. Most people - including you and me - only jumped onto the mining bandwagon in the last month or so. I highly doubt we'll see the high profitability from mining that we saw the beginning of this year again soon. The market is currently flooded with mining hardware and people will be jumping between new coins as they emerge to try and get a return on their (quite sizable) investment. It's still a satisfactory ROI for people who were mining at scale mid/end of last year, but I doubt the rest of us will swim in the profits of mining using a rig or two running at home. Hindsight is 20-20, as the saying goes...

 

[Glordit]

Mining is only a thing because, some people got rich of BTC when it hit huge gains earlier this year. Sorry to say but, it's a little too late to get into the mining business. Proof of stake is coming, and difficulty in mining increases almost daily now. There is also the serious volatility of many of the currencies, and people see it as a get rich quick scheme. It's sad because it was not it's original intention.

 

[Ronnie1102]

Because there's no point going back that far now. Most people - including you and me - only jumped onto the mining bandwagon in the last month or so. I highly doubt we'll see the high profitability from mining that we saw the beginning of this year again soon. The market is currently flooded with mining hardware and people will be jumping between new coins as they emerge to try and get a return on their (quite sizable) investment. It's still a satisfactory ROI for people who were mining at scale mid/end of last year, but I doubt the rest of us will swim in the profits of mining using a rig or two running at home. Hindsight is 20-20, as the saying goes...

This is true, i also jumped on late. Profit was/is there but for how long still i do not know. I started off with R60-65/day and it dropped really quick to R44/day.

 

[Flex]

That's the problem. It has never been a get rich quick thing. People that think it is are mistaken and have a warped view of mining/trading crypto currencies

 

[Ronnie1102]

That's the problem. It has never been a get rich quick thing. People that think it is are mistaken and have a warped view of mining/trading crypto currencies

All i thought of it was "that little bit of extra income a month" which was fine but as soon as i saw that it will take a while to make back what i spent i realized it is not really worth it for me.