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Mining questions

I have a few questions if anyone has the time to help me out. I have a low budget, I plan to build a serious $3000 beast in the future, but it will require some saving up. In the mean time I want to get into mining. 

1. If I scavenge cheap used gpus off craigslist and places (assuming they work) is there a chance of that being profiltable or would it be better to just buy a new modern card?

Also how do you mine with multiple cards or do you need the same cards

2. I heard about mining off hard drives. Is this profitable? it seems like it would be a lower cost of entry, but I don't know enough about it

can someone explain the pros and cons and what it entails

 

Insanity is not the absence of sanity, but the willingness to ignore it for a purpose. Chaos is the result of this choice. I relish in both.

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there is a reason that old cards aren't being used for mining, they arent as good, if you can find a few cards on stock in a local store it would be your best bet for a good profit,

right now profits aren't great as bitcoin is down so profits follow, cards that are still good are those with good memory amounts and high end, things like 290x's,  i dont know how profitable nvidea cards of the period are.

 

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10 minutes ago, Jtalk4456 said:

I have a few questions if anyone has the time to help me out. I have a low budget, I plan to build a serious $3000 beast in the future, but it will require some saving up. In the mean time I want to get into mining. 

1. If I scavenge cheap used gpus off craigslist and places (assuming they work) is there a chance of that being profiltable or would it be better to just buy a new modern card?

Also how do you mine with multiple cards or do you need the same cards

2. I heard about mining off hard drives. Is this profitable? it seems like it would be a lower cost of entry, but I don't know enough about it

can someone explain the pros and cons and what it entails

 

Hi! 

 

I can help you out with a few of your questions. It is not profitable to buy old/ancient cards and try to earn some money. I recommend buying used modern cards. You can mine with 2 different cards on one computer (with a GTX 1070 and a RX 580) at the same time.

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4 minutes ago, cj09beira said:

there is a reason that old cards aren't being used for mining, they arent as good, if you can find a few cards on stock in a local store it would be your best bet for a good profit,

right now profits aren't great as bitcoin is down so profits follow, cards that are still good are those with good memory amounts and high end, things like 290x's,  i dont know how profitable nvidea cards of the period are.

 

More profitable than AMD cards actually. VEGA 56 is good but they flat out don't exist. RX580 has the best profit/power usage but those are over 2.5X MSRP. 1080tis are great too but they are priced the same as a Titan XP so you might as well get a Titan

ƆԀ S₱▓Ɇ▓cs: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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1 minute ago, BuckGup said:

More profitable than AMD cards actually. VEGA 56 is good but they flat out don't exist. RX580 has the best profit/power usage but those are over 2.5X MSRP. 1080tis are great too but they are priced the same as a Titan XP so you might as well get a Titan

What about the GTX 1070 8GB?

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14 minutes ago, Jtalk4456 said:

I have a few questions if anyone has the time to help me out. I have a low budget, I plan to build a serious $3000 beast in the future, but it will require some saving up. In the mean time I want to get into mining. 

1. If I scavenge cheap used gpus off craigslist and places (assuming they work) is there a chance of that being profiltable or would it be better to just buy a new modern card?

Also how do you mine with multiple cards or do you need the same cards

2. I heard about mining off hard drives. Is this profitable? it seems like it would be a lower cost of entry, but I don't know enough about it

can someone explain the pros and cons and what it entails

 

If you're serious about this you got some googling ahead of you, this is a very broad question as there are many other aspects that need to be taken into account when attempting to enter this world at a multi gpu level.

 

1. Last gen gpu's are as old as you could realistically go, a 970 is a great mining card for "Hash per Watt" but with more and more nvidia friendly mining the market has drastically driven up the prices of these older cards.

 

1.5x Depending on the miner/coin you decide to mine you will be able to select any individual or cluster of cards.

 

2. Burstcoin is the coin behind HDD mining, but this is highly unprofitable for any home gamer. 1TB = 50 Burst a month /.89 cents a month.

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7 minutes ago, BuckGup said:

More profitable than AMD cards actually. VEGA 56 is good but they flat out don't exist. RX580 has the best profit/power usage but those are over 2.5X MSRP. 1080tis are great too but they are priced the same as a Titan XP so you might as well get a Titan

While the prices might be the same, the power draw of a titan ruins the overall hashing power the titan provides compared to a 1080ti.

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7 minutes ago, rf9661 said:

What about the GTX 1070 8GB?

1070's are good cards to mine with as they provide good hashing power while still being power officiant, Nvidia cards do really well with any Equihash coins and you can find general calculators (What to mine) (Mine the coin) or something like this chart from a Zcash GPU comparison <-- Though people don't like to reveal what there really getting with a certain card to avoid the market favoring that over another.

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26 minutes ago, rf9661 said:

What about the GTX 1070 8GB?

1070tis exist but the 1070s had decent hash/power usage same with the 1060

ƆԀ S₱▓Ɇ▓cs: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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4 hours ago, Jtalk4456 said:

I have a few questions if anyone has the time to help me out. I have a low budget, I plan to build a serious $3000 beast in the future, but it will require some saving up. In the mean time I want to get into mining. 

1. If I scavenge cheap used gpus off craigslist and places (assuming they work) is there a chance of that being profiltable or would it be better to just buy a new modern card?

Also how do you mine with multiple cards or do you need the same cards

2. I heard about mining off hard drives. Is this profitable? it seems like it would be a lower cost of entry, but I don't know enough about it

can someone explain the pros and cons and what it entails

 

1. DEPENDS completely on the GPU, an RX470 or 480 or the GTX 970 and up are still profitable, much older then that, maybe an R9 290 might be profitable depending on your Power Costs

2. From the research I just did a 12 TB set of drives mining burst coin would earn about a dollar a day, being that 12TB of HDD would run you about 460 bucks so it would be over a YEAR for you to reach ROI, mining Burst is something you do to hold it in hopes the technology takes off one day and the coin skyrockets in value

4 hours ago, BuckGup said:

More profitable than AMD cards actually. VEGA 56 is good but they flat out don't exist. RX580 has the best profit/power usage but those are over 2.5X MSRP. 1080tis are great too but they are priced the same as a Titan XP so you might as well get a Titan

and thats why I got 2 of the Titan Xp Gallactic Empire edition cards a few weeks ago.

4 hours ago, Kyoshokid said:

While the prices might be the same, the power draw of a titan ruins the overall hashing power the titan provides compared to a 1080ti.

INCORRECT, Titan Xp's and 1080ti's have virtually IDENTICAL power draws (within 3-5 watts total card draw at the same hashrate), I know this by the fact I am seeing it first hand between my 1080ti's and Titan Xp's

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Burstcoin mining (with HDDs) for now doesn't really grant you profits, only do it if you want to speculate about the market in the future as I am doing.

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15 hours ago, AugOwnz said:

Burstcoin mining (with HDDs) for now doesn't really grant you profits, only do it if you want to speculate about the market in the future as I am doing.

or you just have a ton of old drives laying around collecting dust.

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On 28/01/2018 at 7:20 PM, Kyoshokid said:

1. Last gen gpu's are as old as you could realistically go, a 970 is a great mining card for "Hash per Watt" but with more and more nvidia friendly mining the market has drastically driven up the prices of these older cards.

This depends on your electricity rates, I'm still mining with an HD7870, and while it uses almost 180W of power, it's still profitable because the rates here are around $0.056 USD per kWh (around 7 cents Canadian).

 

That card can mine between $1.25 and $1.5 depending. So even if I found the power consumption up, it's still profitable ;

(200w/1000 * 24h) / $0.06kwh = $0.288 USD per day to run the 7870 at my current rate. So the net profit is around $0.90-1.20 per day.

Edited by wkdpaul

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50 minutes ago, wkdpaul said:

This depends on your electricity rates, I'm still mining with an HD7870, and while it uses almost 180W of power, it's still profitable because the rates here are around $0.056 USD per kWh (around 7 cents Canadian).

 

That card can mine between $1.25 and $1.5 depending. So even if I found the power consumption up, it's still profitable ;

(200w/1000 * 24h) / $0.06kwh = $0.288 USD per day to run the 7870 at my current rate. So the net profit is around $0.90-1.20 per day.

This is very true and would represent another aspect that's hidden whiten the great list of questions when seriously getting into mining.

 

@Jtalk4456

What's your experience with system building/trouble shooting?

What does power cost, do you know how many amps/how large of a psu you can plug into the wall?

Where is the system going to be placed, if using stock coolers and planing to keep this in a bedroom is going to be very unpleasant if not dangerous to some extent with poor ventilation/cooling.

What's your plan for redundancy, noise, cooling, fire suppression?

 

This just scratches the surface of what your asking, all of this before looking at actual hardware/mining/mining software/drivers/card memory limitations/temperature bottlenecks/securing your wallets/exchanges/trading.

 

Though while it's really easy to build and setup a mining rig I would not recommend building a rig only for GPU mining. When the markets see great lows everyone panic sells, if you plan to gpu mine you need to be invested for the long haul and not for the short term highs.

 

 Mining on a gaming rig is pretty simple, but setting up a dedicated miner is an animal of it's own.

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6 hours ago, Daniel644 said:

or you just have a ton of old drives laying around collecting dust.

Well you get approx. 31 $ a month with 10TB of plotted drives, I don't think most people have that many old drives.

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1 minute ago, AugOwnz said:

Well you get approx. 31 $ a month with 10TB of plotted drives, I don't think most people have that many old drives.

yeah, my point was that if you have drives laying around those will earn something instead of just sitting there doing nothing. if you aren't paying for the drives since you already have them then even the crappy earnings should still cover the costs of operation of the drives considering how low drive power usage is. it's not going to be anything of significance now, but if you have it you can use it to try and hold out for hope that the value increases, definitely don't buy hardware for Burst mining.

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