How effectively could I mine Eth with 2 Rx 480s?

[Stardar1]

This is a brief question.

 

A friend of mine is willing to sell me his 2 XFX Rx 480 8GB cards for $300 apiece. How effectively could I mine etherium with these, and what other components should I use?

 

Really what I'm looking for is a ballpark estimate of how much I could make with this, are we talking pennies a month? dozens? hundreds? more?

 

 

Thanks, any advice helps. 

 

 

[samcool55]

4-ish dollars per day per card

[Stardar1]

Just now, samcool55 said:

4-ish dollars per day per card

so i'm looking at about $240 a month, minus energy costs (~$20 per month here)?

 

That's pretty good, and does it scale evenly? 2 more cards would double the rate?

 

Also, does the CPU matter or could I just throw in a Pentium G4560 and call it good?

[2FA]

I wouldn't pay that much for used RX 480s to mine with, especially from a friend. The current price bubble is likely to burst within a couple months so you could also lose money on this.

 

As for your questions:

1. $4-6 per day depending BIOS tweaks and OC

2. Typically scales linearly with each card since each is used individually.

3. CPU doesn't really matter at all, the cheaper the better.

[Stardar1]

Just now, DeadEyePsycho said:

I wouldn't pay that much for used RX 480s to mine with, especially from a friend. The current price bubble is likely to burst within a couple months so you could also lose money on this.

 

As for your questions:

1. $4-6 per day depending BIOS tweaks and OC

2. Typically scales linearly with each card since each is used individually.

3. CPU doesn't really matter at all, the cheaper the better.

The cards are a little pricey, but according to my math they'll pay for themselves in about 10 weeks. 

 

the other thing is that Eth has been climbing rapidly in value, and that $4 per day per card (1% of a single eth per day per card) should go up with it, right?

[Damascus]

21 minutes ago, Stardar1 said:

300 apiece

Umm no.  You won't make your money back dude.  The ease of  mining etherium will decrease as more and more people attempt to mine it and if you haven't noticed a metric shit tonne of people are mining right now.  

 

There are calculations you will need to do and make sure you how much you'll actually make, like what the hashrate is etc.  On top of that, your electricity provider will charge significantly more per Kwh after a certain amount bought.

[2FA]

1 minute ago, Stardar1 said:

The cards are a little pricey, but according to my math they'll pay for themselves in about 10 weeks. 

 

the other thing is that Eth has been climbing rapidly in value, and that $4 per day per card (1% of a single eth per day per card) should go up with it, right?

Not necessarily, as difficulty goes up due to more people mining, the harder it is to find blocks.

[Stardar1]

1 minute ago, Damascus said:

Umm no.  You won't make your money back dude.  The ease of  mining etherium will decrease as more and more people attempt to mine it and if you haven't noticed a metric shit tonne of people are mining right now.  

 

There are calculations you will need to do and make sure you how much you'll actually make, like what the hashrate is etc.  On top of that, your electricity provider will charge significantly more per Kwh after a certain amount bought.

 

Just now, DeadEyePsycho said:

Not necessarily, as difficulty goes up due to more people mining, the harder it is to find blocks.

I can confirm that my electricity charge rate will not increase unless I mine with about 20 cards. 

 

but as etherium increases in value, will that offset the difficulty increase?

[2FA]

Just now, Stardar1 said:

 

I can confirm that my electricity charge rate will not increase unless I mine with about 20 cards. 

 

but as etherium increases in value, will that offset the difficulty increase?

I still make roughly the same as I did a month ago, so no not really.

[Stardar1]

Just now, DeadEyePsycho said:

I still make roughly the same as I did a month ago, so no not really.

So I'm better off just trading in it like stock rather than mining it. 

[2FA]

4 minutes ago, Stardar1 said:

So I'm better off just trading in it like stock rather than mining it. 

You do what you want, I'm just saying there is a possibility of a market price correction. Fun fact though, Ethereum is about to take over as the dominant crypto. Bitcoin is down to 39% market dominance from 50+% two months ago.

[2bitmarksman]

You can expect about 240-250 dollars per month mining ethereum with both of those cards at the same time per month, but this doesn't account for increasing difficulty. And even though the difficulty to mine will increase, so will the value of the currency, so this shouldn't be THAT big of an issue (assuming the overall price increases at about the rate the difficulty increases), especially with how steadily ETH is increasing (in both difficulty and price) and how large of a market there is for ETH (it will be passing total market value of BTC in the not so distant future).

Honestly, 300 bucks isn't too bad a price at the moment and if you really want to mine ETH and make decent money, go for it

Another option could be to buy 2x 1070's at 400 a piece and mine Zcash, which would net around 380 per month