Pay off a brand new RX580 through mining?

[Noyu]

Hi. We all know that due to the cryptocraze, AMD cards (e.g. RX570s and 580s) are on very steep pricing right now.

 

I've been planning on getting the Sapphire RX580 (which costs around 316$ here) for my gaming rig.

However, I feel like the price is very expensive for something I'll only be using a few hours a day.

 

Virtually, is it safe for the GPU to if I let my rig mine 8-10H a day, 5 days a week? What crypto? How?

The plan is to get some money out of the RX580 just enough to reimburse the cost (either fully or partially).

I have a weird agreement with my landlord with regards to electricity costs so it's basically free.

 

I'm a noob when it comes to cryptocurrencies and mining. All I know is that generally speaking mining isn't exactly profitable for personal rigs (vs dedicated mining rigs) aaand that the cryptocurrencies are very volatile when it comes to exchange rates and stuff.

[davyre89]

11 minutes ago, Noyu said:

Virtually, is it safe for the GPU to if I let my rig mine 8-10H a day, 5 days a week?

Yes it is safe, you can even run 24/7. Just make sure your case is well ventilated and you should be fine.

[Damascus]

2 minutes ago, Noyu said:

isn't exactly profitable for personal rigs (vs dedicated mining rigs)

That's a myth actually, a dedicated mining rig will make more money but it won't make more money per gpu.  A mining rig with 5 cards making $100 a week (pulling these numbers out of my ass) isn't any more profitable than a rig with 1 gpu making $20 that takes 1/5 the power.

 

Profit is about beating the cost of electricity so for you any gpu will be profitable 

[vanished]

Check out the guide in my signature.  It includes a link to a place that will let you figure out if your card is worth using or not (spoiler, it almost certainly is).  Also, you'll make it back quicker going 24/7 than 8/5

[Noyu]

Just now, Damascus said:

Profit is about beating the cost of electricity so for you any gpu will be profitable 

 

Just now, Ryan_Vickers said:

 It includes a link to a place that will let you figure out if your card is worth using or not (spoiler, it almost certainly is).

 

Also, you'll make it back quicker going 24/7 than 8/5

thanks! I'm interested in trying XMR (as I read it's easier to setup??) and assuming 600H/s (googled) I get around 50$ PER month (this is 24/7).

 

But actually I'm more concerned on the lifespan on the GPU. Sure I might be able to pay it off within a year or so but how does it affect the GPU further down the road?

[vanished]

2 minutes ago, Noyu said:

 

thanks! I'm interested in trying XMR (as I read it's easier to setup??) and assuming 600H/s (googled) I get around 50$ PER month (this is 24/7).

 

But actually I'm more concerned on the lifespan on the GPU. Sure I might be able to pay it off within a year or so but how does it affect the GPU further down the road?

In theory it will reduce lifespan, but since GPUs generally last so long anyway, odds are it won't be reduced in any way that you'll notice (ie, you'll still upgrade or replace it before it fails)

[Noyu]

27 minutes ago, Ryan_Vickers said:

In theory it will reduce lifespan, but since GPUs generally last so long anyway, odds are it won't be reduced in any way that you'll notice (ie, you'll still upgrade or replace it before it fails)

I see. next question! IIRC I read from some of the replies in this topic a week ago that there's a miner that automatically switches to the most proftiable cryptocurrency for the setup? Do you know what they're talking about?

[vanished]

Just now, Noyu said:

I see. next question! IIRC I read from some of the replies in this topic a week ago that there's a miner that automatically switches to the most proftiable cryptocurrency for the setup? Do you know what they're talking about?

Yes, that's this https://www.coindesk.com/62-million-gone-cryptocurrency-mining-market-nicehash-hacked/

[Noyu]

1 minute ago, Ryan_Vickers said:

Yes, that's this https://www.coindesk.com/62-million-gone-cryptocurrency-mining-market-nicehash-hacked/

oh.

ooh

ooooooh

I was just reading about this earlier today lol haha

[Daniel644]

6 hours ago, Noyu said:

 

thanks! I'm interested in trying XMR (as I read it's easier to setup??) and assuming 600H/s (googled) I get around 50$ PER month (this is 24/7).

 

But actually I'm more concerned on the lifespan on the GPU. Sure I might be able to pay it off within a year or so but how does it affect the GPU further down the road?

if you pay it off in a year whats it matter how long past that year that it lasts? it's already paid for itself and you can use that extra money you've made between paying it off and when it dies to buy a better newer card.

 

but start with Undervolting, DON'T OVERCLOCK when mining, it just ruins the profitability, I shaved 70 watts of power draw from the way by reducing the power limit to 72% with little to no loss in hashrate over 100% and if I overclocked the card to it's max i'd be another 130-140 watts above the 100% power limit power usage (nearly DOUBLE my whole system draw with the power limit at 72%.