Psybronik

I upgraded from an i7-7700 to a 3900XT so I get the confusion! First of all, install AMD's chipset drivers (search for B550 chipset drivers). Then set your power plan to Ryzen Balanced or Ryzen High Performance. In your BIOS, enable DOCP for your memory (AMD version of XMP). You can also enable PBO and Performance Enhancement, but I would test the CPU at stock first. Double check that your voltage/core ratio is set to auto for now (you can manual overclock if you'd like later).

Just keep your 6700k it is plenty if you use the nvence encoder. Especially with an oc.

Prices seem different in India, I'm not sure you can afford a 3080 and a Ryzen 7 chip.

Totally depends on what you use to stream. If you use the gpu to encode then you can still use your 6700k no problem. If you use the cpu you would need at least an 8core/16thread cpu.
 
We do not have any reviews on any of the products mentioned here so I would not know how they will perform. A current 2080ti would do all the tasks you want without too much trouble (part from being stupid overpriced). So IF the 3070 is as good as promised it would most likely also do the job.

For now just wait. There is no point in getting anything right now as the new rtx 3000 series of gpus are launching. You can just get a new 3000 series card and use the card to encode your stream. If you are happy with the quality of that then stick with it if not then your upgrade to a new ryzen 4000 system which is launching this fall. All you would need after a gpu upgrade is cpu and a motherboard but I cannot recommend you anything till both the new cpu's and gpu's launch.

You can reuse the Cooler, PSU, and RAM.
 
I would also wait a month for Ryzen 4000, and see when India gets the RTX 3000 series cards. You could probably get a Ryzen 5 4600 (whatever succeeds the 3600) and an RTX 3070 for that much.

It's often stylized as eSports anyway. Don't think it matters at all though.

XG2402 or the XG2401 if you want to save some bucks (basically the same panel but without FreeSync 2 support - and you probably won't use FreeSync if you are playing competitively anyway).
 
 

VIEWSONIC XG2402 easily. I tried a Acer 144hz monitor and it had ghosting issues and stuff, i have no comment on the LG but i personally have a XG2401 and its a great monitor with great clear colours and in general a great display.

I don't know what your CPU  cooler is but you could over clock and get an AIO. I have a Corsair H100i v2 and it works great. GPU upgrade as @SenpaiKaplan mentioned and an SSD if you want

Imho you only need a GPU upgrade.

i was thinking to go for shadowplay

I use OBS for my recordings and it works flawless (on an i7 4790K). File sizes can be quite large though, especially on 60fps.
You can also try to use an other workflow if you haven't got much space for storage.
If that is the case then you could try to use Handbrake (Video Compresser) to compress the recorded video and then delete the source video. 

I moved it to the front so I could do push-pull with fans on both sides. I think it is probably a combination of what you said about lack of air venting and the fact that the H440 fan hub isn't playing nice with my PWM header. I just ordered some god awful ugly Noctua PWM fans, so hopefully that will do the trick.

np

I think I am going to have to paint them when they arrive. Noctua's color scheme is terrible. Their fans must only be meant for systems that don't have a side window. 

I am running only one SSD at the moment which I have mounted on top of the PSU chamber. I have an NZXT Hue+ mounted next to it in the second slot, which looks pretty sweet to me. Eventually my plan is to run dual PCIe m.2 cards in raid0 since my motherboard supports it. Should be stupid fast.

Give me a second and I will post up a picture really quick. It isn't anything amazing, but obviously I am proud of it.

Do u have ur CPU oc'ed because if not that's high Ul want to re apply thermal paste 
I have the same temps (50's) at 4,7ghz
and there not a lot between our coolers 

It might be worthwhile to ditch the thermal paste that came pre-applied on your cooler, and use something like Artic Silver 5. That is what I use on mine, and it has been proven to be better than most of the stuff that comes pre-applied on many different coolers. Again, in the 50's is not a bad temperature, and if your particular 6700k uses a little bit more Vcore, that would easily explain why your temperatures are where they are.

Here are a couple of crappy shots of my rig. My new video card should be here Wednesday!! Do you have any photos of yours?

It is actually silver, but very hard to tell in the pictures. My goal initially was a white, and red theme. I had the Gigabyte Z170 Gaming 7 initially, but returned it for this MSI Z170 X-Power Titanium because I liked how it looked and I liked the gimmicky overclocking daughterboard. Doesn't actually help with anything but looks really cool! lol 
 
Also, it just happened to be red in the picture I uploaded. A lot of the time, I have the Hue+ set to white.

That Gigabyte board is still a very good board. My Gaming 7 was awesome, but I just wanted something different. 

It's prolly not the thermal paste, the one that comes with Corsair coolers is top quality, however since it's preapplied there's a chance it may dry out sooner. Don't go with Arctic Silver 5, just get MX-2, PK-1, PK-2, Zalman STG2, anything from Thermal Grizzly (Kryonaut, Hydronaut, aeronaut), Noctua NT-H1, IC diamond, whatever is available and cheaper, the difference is minimal. However, I don't think the TIM is likely to be the problem, but it's always good to have some anyway.

1.4 is fine for a oc but if ur not overclocked 1.4 is rediculas 
u can run at like 1.15 if u don't oc 
and it would also explain the high temps