GPU Rig or ASIC

[Error 504]

i searched around, basically most people are saying gpu is more versatile than asic, but asic is usually tend to be more powerful, not necessarily more efficient, than gpu.

 

i have been saving up, and finally got enough to get a gpu rig or asic.

 

thanks.

[Electronics Wizardy]

Really depends on the coin you want to mine. Most are either asic mining or gpu mining at this point. Mining with a gpu on a coin that has asics makes basically no profit. 

 

Id also think about resale value, GPUs seem to do much better than asics here as gamers will still buy them. Once a asic makes less than it costs in power its basically useless.

 

Also asics are normally much louder compared to gpus, and not something you normally want to be in the same room as.

 

Also check that you have the electrical setup for this. Don't want to start a house fire with bad wiring.

[tikker]

GPUs will have more resell value. Do consider you won't be making profit until you've recouped however much this rig will cost you. "GPU rig" doesn't mean much unless you tell us what GPUs it has. Then you'll need to take into account power cost to see how much you'll actually earn per day, after which you can calculate how long it will take you to start turning a profit.

 

Honestly with ETH's difficulty bomb set to go off December this year I would be hesitant putting large amounts of money in a GPU rig at the moment. It's hard to say what will happen to GPU mining then, even with other coins, so be ready to lose every penny you put into it.

[Error 504]

1 hour ago, tikker said:

Honestly with ETH's difficulty bomb set to go off December this year I would be hesitant putting large amounts of money in a GPU rig at the moment. It's hard to say what will happen to GPU mining then, even with other coins, so be ready to lose every penny you put into it.

yes, i have heard about that, ETH 2 or something, which will make gpu mining obsolete, and that's why i have been waiting to see what is going to happen when ETH gen 2 comes out.

 

ya, my worst care scenario is to lose all money invested in machines, so i figure i could at least sell the graphics cards if it becomes useless, and recuperate SOME money. i'm mentally prepared for this. i'll probably still be upset, but i think i won't freak out crying on the ledge of a downtown building.

[tikker]

15 minutes ago, Error 504 said:

yes, i have heard about that, ETH 2 or something, which will make gpu mining obsolete, and that's why i have been waiting to see what is going to happen when ETH gen 2 comes out.

Unfortunately this kind of thing the waiting game is the wrong game to play in crypto. Unfortunately it's a hard and fast gamble on what'll happen. If you wait until you know it will be too late for the "fast" gains.

19 minutes ago, Error 504 said:

ya, my worst care scenario is to lose all money invested in machines, so i figure i could at least sell the graphics cards if it becomes useless, and recuperate SOME money. i'm mentally prepared for this. i'll probably still be upset, but i think i won't freak out crying on the ledge of a downtown building.

Don't just think, be absolutely sure of that. Do not spend any money you may need or aren't comfortable lighting on fire right now. Depending on how much risk you want to take you could also consider investing the money you intend to spend on a mining rig directly into the coins you intended to mine. It's all a risky gamble though.

 

[Error 504]

11 hours ago, tikker said:

Unfortunately this kind of thing the waiting game is the wrong game to play in crypto. Unfortunately it's a hard and fast gamble on what'll happen. If you wait until you know it will be too late for the "fast" gains.

i'm not crypto savvy enough to even make up my own mind to decide which side to place the bet. i'll just wait and see. i know i will lose out on the early gains, but there will PROBABLY be other opportunities to make a quick buck in eth 2.

 

11 hours ago, tikker said:

Don't just think, be absolutely sure of that. Do not spend any money you may need or aren't comfortable lighting on fire right now. Depending on how much risk you want to take you could also consider investing the money you intend to spend on a mining rig directly into the coins you intended to mine. It's all a risky gamble though.

 

if the market crashes, i'll probably just sigh and regret not spending that money on my shiba, or not spending that money on getting a new gaming rig. i know it's a gamble. the whole crypto thing is a gamble, if not a scam. i intend to play in the crypto market knowing very well that it's a scam, but i'm betting on the fact that i won't be the last person in the world holding the bag. most likely that some people from those south american countries will be the last people holding the bag.

 

[tikker]

6 hours ago, Error 504 said:

i'm not crypto savvy enough to even make up my own mind to decide which side to place the bet. i'll just wait and see. i know i will lose out on the early gains, but there will PROBABLY be other opportunities to make a quick buck in eth 2.

I mean with mining you are already making up your mind. ASIC will be BTC and GPU will most likely be ETH or RVN, which are most profitable atm. The opportunity for making "a quick buck" with ETH 2 is now and it's a risky bet. Also get "quick buck" out of your mind though. That happens to the lucky people who already have a few thousands to put in. You won't put in $100 today and wake up with $10k tomorrow.

 

In my opinion it's not the best time to get into mining. You also haven't said what GPUs will be in the GPU rig or which ASIC you are looking at. Assuming you'll be mining ETH, let's say you buy a 3090 today and earn (very optimistically) $10 a day before electricity. Where I am they go for around $3000. Let's assume ETH's difficulty bomb remains on time and hits December 6 at the latest. That's 43 days * $10 per day = $430. You haven't even made money, you barely earned back 1/6th of what it cost you to start mining.

 

People expect it to keep rising so that number may go up a bit, but that's a best case scenario with the best GPU. People are also wary of buying mining cards, so resell value will drop from that as well. Even if ETH would double in price you would have regained 1/3 of what you spent, still zero profits. If you had put in that $3000 and it doubles, you'll have $6000. If you are willing to gamble and are looking for that "quick buck" (which doesn't really exist), you'll probably be better off buying ETH directly

 

Now we don't know what the other mineable coins will do, but for me it doesn't make sense to put a lot of money into mining anymore. Not financial advice, it is all highly speculative, just my opinion on the current state.

[Error 504]

13 hours ago, tikker said:

I mean with mining you are already making up your mind. ASIC will be BTC and GPU will most likely be ETH or RVN, which are most profitable atm. The opportunity for making "a quick buck" with ETH 2 is now and it's a risky bet. Also get "quick buck" out of your mind though. That happens to the lucky people who already have a few thousands to put in. You won't put in $100 today and wake up with $10k tomorrow.

 

In my opinion it's not the best time to get into mining. You also haven't said what GPUs will be in the GPU rig or which ASIC you are looking at. Assuming you'll be mining ETH, let's say you buy a 3090 today and earn (very optimistically) $10 a day before electricity. Where I am they go for around $3000. Let's assume ETH's difficulty bomb remains on time and hits December 6 at the latest. That's 43 days * $10 per day = $430. You haven't even made money, you barely earned back 1/6th of what it cost you to start mining.

 

People expect it to keep rising so that number may go up a bit, but that's a best case scenario with the best GPU. People are also wary of buying mining cards, so resell value will drop from that as well. Even if ETH would double in price you would have regained 1/3 of what you spent, still zero profits. If you had put in that $3000 and it doubles, you'll have $6000. If you are willing to gamble and are looking for that "quick buck" (which doesn't really exist), you'll probably be better off buying ETH directly

 

Now we don't know what the other mineable coins will do, but for me it doesn't make sense to put a lot of money into mining anymore. Not financial advice, it is all highly speculative, just my opinion on the current state.

i'm not tech savvy enough to handle eth2, with the node and verification stuff. i'd probably lose money before everything was properly set up.

 

i'm thinking about getting a multi-gpu rig, maybe 6 or 8 cards, or just go straight to asic and mine btc.

 

i have been saying that it's just all speculative since day one, but crypto's don't stop, and it's unstoppable now, with all the etf's being approved. it's crazy. can you imagine if crypto bubble bursts now? i think it will be worse than the subprime mortgage crisis back in 2008. ---> or maybe not. the big whales will probably be affected the most. not sure, i don't know how many people actually borrow money to invest in crypto.

 

crypto ain't going away, so might as well live with it, and might as well make A LITTLE BIT of passive income WHILE it's still possible. if i can't win 649, then i don't think i'll be lucky enough to be the last person holding the bag full of useless fake coins in the world

[tikker]

14 hours ago, Error 504 said:

i'm not tech savvy enough to handle eth2, with the node and verification stuff. i'd probably lose money before everything was properly set up.

You don't have to do any of that. I'm simply talking about buying crypto. Mining isn't the only thing you can do to obtain it, you can literally just buy it.

14 hours ago, Error 504 said:

i'm thinking about getting a multi-gpu rig, maybe 6 or 8 cards, or just go straight to asic and mine btc.

THat still doesn't mean anything. Which cards? Which ASIC?

14 hours ago, Error 504 said:

crypto ain't going away, so might as well live with it, and might as well make A LITTLE BIT of passive income WHILE it's still possible. if i can't win 649, then i don't think i'll be lucky enough to be the last person holding the bag full of useless fake coins in the world

What I'm trying to say is if you pour thousands into a mining rig now, you won't be making any passive income for like a year at current GPU pricing until you've recouped those thousands.

[Error 504]

On 10/25/2021 at 6:35 AM, tikker said:

You don't have to do any of that. I'm simply talking about buying crypto. Mining isn't the only thing you can do to obtain it, you can literally just buy it.

nah, i'd rather spend the money on a machine that will mine the coins, and hopefully will be paid off in about 7 months of time.

 

On 10/25/2021 at 6:35 AM, tikker said:

THat still doesn't mean anything. Which cards? Which ASIC?

What I'm trying to say is if you pour thousands into a mining rig now, you won't be making any passive income for like a year at current GPU pricing until you've recouped those thousands.

probably the S19J Pro or the A1 Pro, which is way cheaper than the S19J Pro.

as for gpu rig, i haven't decided what or how to build it, considering how difficult it is to get a card right now.

 

thanks for the replies, i really appreciate the input.

[tikker]

4 hours ago, Error 504 said:

nah, i'd rather spend the money on a machine that will mine the coins, and hopefully will be paid off in about 7 months of time.

That's fair and ultimately up to you, just wanted to thrown the risks and other pathways out there.

4 hours ago, Error 504 said:

probably the S19J Pro or the A1 Pro, which is way cheaper than the S19J Pro.

as for gpu rig, i haven't decided what or how to build it, considering how difficult it is to get a card right now.

From what I can find the A1 Pro seems similar to the top GPUs, while the S19J Pro seems to sit around $30 a day. Given that it costs $10k you'll still spend the better part of a year mining to recoup it before making profit though, which is a certain risk given we are far into the bull market already. That's the other thing to consider. Immediate-profitability-wise it's a great time to mine, but from a bigger picture we've just started a second big climb in an already big bull market. There is the chance it'll correct a few months from now, in which case the mining itself may not even be profitable. It's impossible to predict, but we've been peaking so long now already, sooner or later the correction will come.

 

I think it won't really matter whether you choose a BTC miner or go the GPU route except that the GPUs have potentiall more resell value later on if people still want them after being mined on. Both will have you mining a long time before making a profit.

[Error 504]

On 10/27/2021 at 5:09 AM, tikker said:

I think it won't really matter whether you choose a BTC miner or go the GPU route except that the GPUs have potentiall more resell value later on if people still want them after being mined on. Both will have you mining a long time before making a profit.

i'm gonna get two s19j pro, i've been saving up money, and i'm ok with losing it all if crypto goes belly up. at least i'd have stories to tell. " hey kids, you know how your grandpa lost it all in crypto?? because he joined the game too late, and he was the last person holding a bag of fakecoins...."

 

crypto is out of control......................

[tikker]

7 hours ago, Error 504 said:

i'm gonna get two s19j pro, i've been saving up money, and i'm ok with losing it all if crypto goes belly up. at least i'd have stories to tell. " hey kids, you know how your grandpa lost it all in crypto?? because he joined the game too late, and he was the last person holding a bag of fakecoins...."

 

crypto is out of control......................

It's basically supply and demand in hardcore mode. At some point the market also needs to correct. Rinse, lather, repeat and that's the cycle we go through. Our fiducial money doesn't do this because it's regulated exactly to prevent these huge swings in value.

[Error 504]

7 hours ago, tikker said:

It's basically supply and demand in hardcore mode. At some point the market also needs to correct. Rinse, lather, repeat and that's the cycle we go through. Our fiducial money doesn't do this because it's regulated exactly to prevent these huge swings in value.

i'm just really surprised how any government would let crypto grow to this magnitude.......

 

having said that, i'm gonna bet on me not being the last sucker in the world holding the bag in the very end.