How low does cryptocurrency need to go for it to become unprofitable to mine? (I'm still using a GTX780 6gb with a ryzen 5 3600)

[mystvean]

I noticed that all cryptocurrency seems to be crashing. How low is does it need to go so that the cost of mining outweighs the returns? GPUs are available now but prices in my market is still about 2x RRP. Will we ever see cheaper cards or will sellers just keep selling it at their high prices? 

[tikker]

Depends entirely on how far it falls and how many miners there are. In other words, it's another magic 8-ball question.

10 minutes ago, mystvean said:

Will we ever see cheaper cards or will sellers just keep selling it at their high prices?

People clearly have no issue buying them at this price, so I don't expect a drop anytime soon.

[Chris Pratt]

If you're hoping for some magic point where mining is not profitable and all the miners just get out the game and dump their cards, that's not going to happen. Even when it falls like this, it's still tens of thousands of dollars more than it was worth a couple of years ago. In other words, it's still profitable, and it would pretty make take the complete crash of all cryptocurrency to change that.

 

Miners taking cards is an overblown problem anyways. Sure, that contributes to demand, but the issue is and has been supply, and specifically enough supply to meet unprecedented demand. That demand is coming from far more facets than just mining.

 

[Guest]

Mining is a rich mans adventure. 

Doing the math quickly without real numbers....

 

A single 780 probably would take a decade (likely more) to mine a single coin. 

[NoNameCola]

2 hours ago, Chris Pratt said:

If you're hoping for some magic point where mining is not profitable and all the miners just get out the game and dump their cards, that's not going to happen. Even when it falls like this, it's still tens of thousands of dollars more than it was worth a couple of years ago. In other words, it's still profitable, and it would pretty make take the complete crash of all cryptocurrency to change that.

 

Miners taking cards is an overblown problem anyways. Sure, that contributes to demand, but the issue is and has been supply, and specifically enough supply to meet unprecedented demand. That demand is coming from far more facets than just mining.

 

Difficulty is up compared to years ago. The math is complex and depends on a lot of factors. 

How efficient are your GPUs? How much is electricity? What is the difficulty? etc. 

 

There is also a sense of market regulation. If the rewards are low then some might go offline, this makes difficulty go down and thus makes mining more profitable for the remaining miners online. There will be a price where it's unprofitable to mine.

[NoNameCola]

21 minutes ago, ShrimpBrime said:

Mining is a rich mans adventure. 

Doing the math quickly without real numbers....

 

A single 780 probably would take a decade (likely more) to mine a single coin. 

You can mine with a pool and get a smaller but more consistent income. 

[Guest]

Just now, Mao_Zedong01 said:

You can mine with a pool and get a smaller but more consistent income. 

It's a GTX 780.... Pretty sure it's not capable of a positive income. Gotta remember it costs money to run the card and the rest of the set up.

And since it's your mining rig, you have another for gaming. If the gaming rig doesn't mine, the GTX 780 will just be a gross loss of your hard earned wages going to work every day. You'd be better off using it for Rosetta @ home or Folding @ Home IMO. At least you know the energy goes towards a good cause besides the power companies pockets. 

 

In my humble opinion of course.

[NoNameCola]

5 minutes ago, ShrimpBrime said:

It's a GTX 780.... Pretty sure it's not capable of a positive income. Gotta remember it costs money to run the card and the rest of the set up.

And since it's your mining rig, you have another for gaming. If the gaming rig doesn't mine, the GTX 780 will just be a gross loss of your hard earned wages going to work every day. You'd be better off using it for Rosetta @ home or Folding @ Home IMO. At least you know the energy goes towards a good cause besides the power companies pockets. 

 

In my humble opinion of course.

Just saying you don't have to mine for years to get a block. But a 780 isn't gonna bring in anything.

 

I never said you should mine with a 780, I'm saying that pools let you get some income even when you don't have a massive operation. 

[Guest]

Just now, Mao_Zedong01 said:

Just saying you don't have to mine for years to get a block. But a 780 isn't gonna bring in anything.

 

I never said you should mine with a 780, I'm saying that pools let you get some income even when you don't have a massive operation. 

The original poster inquired about a GTX 780, right in the title of the thread. So I am responding in regards to a GTX 780.

[Guest]

3 minutes ago, Mao_Zedong01 said:

Just saying you don't have to mine for years to get a block. But a 780 isn't gonna bring in anything.

 

I never said you should mine with a 780, I'm saying that pools let you get some income even when you don't have a massive operation. 

I'm sorry. Let me be more specific.

 

You have to buy a new card. Mine, even in a group and eventually cover the cost of the card. Right?

Even in a pool, you're still spending dimes running the card. + the cost of that card. Right?

It still wouldn't be profitable in 2 years at best, using maybe a 3060/3070. In a pool. Wrong?

[NoNameCola]

3 minutes ago, ShrimpBrime said:

I'm sorry. Let me be more specific.

 

You have to buy a new card. Mine, even in a group and eventually cover the cost of the card. Right?

Even in a pool, you're still spending dimes running the card. + the cost of that card. Right?

It still wouldn't be profitable in 2 years at best, using maybe a 3060/3070. In a pool. Wrong?

I see, sorry English was never my favorite subject. 

 

But I think the economics of mining with an old card is different. I have a 1060 which I bought years ago and started mining on it in the recent boom. 

 

Electricity which in my area is $0.08USD/kWh, I will make $0.60USD. While that's not a lot, it's not nothing. And to me there's not really an extra cost to mining since I use electric baseboard heat. I was making much more during the boom obviously. To me, the card was already purchased and paid for, it served well until I upgraded to my new 3070. So any extra I could get from the 1060 was worth it to me. I had it in an old office PC with a separate PSU for the GPU. 

 

If you're buying a new card hoping to ROI with mining, it's not a good time now as things are kinda falling off a cliff. If you bought it was a gaming card first and therefore don't care about ROI, then there's no harm in it. 

[William Payne]

The answer to this is simple, when it costs more than the return you bring in. The issue though that make the answer hard is an established mine that has already paid for its infrastructure is going to have less costs than anyone starting from scratch. 

[Guest]

8 minutes ago, Mao_Zedong01 said:

I see, sorry English was never my favorite subject. 

 

But I think the economics of mining with an old card is different. I have a 1060 which I bought years ago and started mining on it in the recent boom. 

 

Electricity which in my area is $0.08USD/kWh, I will make $0.60USD. While that's not a lot, it's not nothing. And to me there's not really an extra cost to mining since I use electric baseboard heat. I was making much more during the boom obviously. To me, the card was already purchased and paid for, it served well until I upgraded to my new 3070. So any extra I could get from the 1060 was worth it to me. I had it in an old office PC with a separate PSU for the GPU. 

 

If you're buying a new card hoping to ROI with mining, it's not a good time now as things are kinda falling off a cliff. If you bought it was a gaming card first and therefore don't care about ROI, then there's no harm in it. 

That's not how making a business profitable works unfortunately. In the US, you pay (supposed to pay) tax on your profits.

 

Believe me. It will never be profitable to 99% of us here. 

[TetraSky]

That 780 is about comparable to a 970 or slightly less than a 1060 (as far as gaming goes, probably much lower for mining).
Assuming your power cost 10¢ per kWh... You'd be losing money with nicehash.

 

Spoiler

 

https://www.nicehash.com/profitability-calculator/amd-cpu-ryzen-5-3600,nvidia-gtx-970

 

 

But this may vary depending on what exactly you're mining, on your pool and what not. So there's not really any way to actually tell you if it's worth it or not. For example, with a 1060 :

https://minerstat.com/mining-calculator?share=4e33ea0b

Assuming it keeps going down... For you it won't be long before it's not worth it.

 

[mystvean]

Sorry. When I mentioned I used a GTX780 6gb, I meant not for gaming/work.  am waiting for crypto to crash so that I can get a new GPU at reasonable price. Unprofitable for the miners. The only reason this card last so long is due to the VRAM. Adobe Premier CC still works well despite this card I think should be below the minimum specs. Of course my render time is a bit slow, but I can do other items with 32gb of ram. Waiting for 3060(ti) 12 gb to be cheap so I can upgrade to that.