Genesis Mining code (QnCw0O) for 3% discount - https://www.genesis-mining.com/ Please enter promo code QnCw0O in the promo code box when paying. Thank you.
MSI RX580 8GB MINING RIG COST TO BUILD AND RETURN OF INVESTMENT MINING ETHEREUM - 84 DAYS TO BREAK EVEN
THANK YOU EVERYONE FOR THE SUPPORT.
My personal email: [email protected]
Jaxx wallet - https://jaxx.io
KRAKEN - https://www.kraken.com
Exodus wallet - https://www.exodus.io
Crypto currency trading - https://poloniex.com
Crypto mining calculator - http://www.coinwarz.com/calculators
Buy/Sell bitcoin @ coinbase - https://www.coinbase.com/join/58bc8a6...
If you use my Genesis Mining code please comment on the video and let me know and I will use your code back as soon as possible.
Please like share and subscribe!
No longer profitable in ETH or any coins mining. I run 24 gpu with 31mhs per card. Free electricity and air conditioning cos I work in Power Plant. I have everything for free, 5 big IT equipment rooms, 4x 10gb internet lines. And 1x 100gb lease line run for another 15 years as well.
My office got considerably few spacious free rack 42ues system. Just mining for fun and for test actually, bcos ppl outside thinking mining is profitable, and eager to do that, so I decided to do my own physical mining cos I dont mind losing USD20k just like that. Actually I have a spare of usd100k for the test. Afford to lose as well, yet hard to get those gpu lately, I stop buying the rest.
Should you thinking of start to physical mining, STOP IT BABY. Unless you are ready to lose like me. I can make usd20k from other way of project in 2-3 months. No sweat and harm to lose usd20k just like that.
I don't understand why you guys go mad. it's a product I purchase with my own money which I have every right to do for what ever reason I want. If you have a issue get a job and buy one like most of us. also the gtx 1070 is good value for mining guys got 6 second hand for €1750 I'm hitting 31 mh per card and running 6 with psu running at 76% at .118c per kw I will have my roi fairly soon
Today is totally not same, when you put the same number, you found another result. very down ... After 3 month you can see your profit go down 2 times.
If the profit go down like that, after 1 year we can win 2 dollars per year
+sdericmonty Yeah and they'll end up on eBay soon. I see you've got a Subie in your profile pic, there's one thing the car community knows, it's that you never buy a used WRX. Same situation applies here.
Hi, I have my system set up and I am wondering once I have everything connected how do I install the OS? is that something else I need to purchase or once I turn it on will it already have something on there? I purchase everything exactly like yours :)
Thanks in advance; good video.
Can you do a VIDEO Compare Cloud Mining vs Actual Mining?
What maintenance and other fees do they really take from us ?
1. Profitibaility difference on eg. 150Mhs of ether power
2. Use same investment eg: 2500$
3. Maintenance fee dfiferences
Right now, I have try to build up a configuration but faced with a lot of problems... Basically I 'am a Mac guy, and forget for many things of Windows setup.
Could you suggest me how could I increse the hash. Wist custom setup I have reached 15 with MSI 4Gb video card, what is not so good...
Other question is do you sell the setups on the video, and if so, what would be the price.
i highly doubt it, i live in Denmark which is one of the most heavy taxed contry in the world, we have tax and VAT on almost everything :P
Nice of you to replay, keep up the good work, it was very educational for me, i just tried for fun to mine ETH on my Strix 970 in W10 - its horrible, only doing 2.72 MH/S on the GPU
Sorry but this may be a noob question. Most motherboards have 1 3.0 pcie slot x16 and rest 5 as pcie 2.0 x1. You are using latest gpus but connecting them through x1 to x16 riser card adapters. Does adapter reduce ultimate hashing power? And hypothetically does pcie 3.0 x16 perform (read more hash rate) better than pcie 2.0 x16 with SAME GPU?
Instant return on investment, risk free - - sell your RX 470/480/570/580 today ! - I bought my 2 x rx 480 in sept last year for 264USD each, sold them yesterday for 382USD each. What's going to happen to the used prices for POLARIS cards when VEGA is released? I expect my RX480 would only be able to fetch 120-140USD when every miner wants a VEGA card and they want to sell their old Polaris cards..
So when I mine for something like gold I get why it has value. Why do these values "mining" rigs calculate have value? Can you eat it? can you make jewelry from it? Maybe you can wear it? No one can explain to me why it has value. This worse than Fiat currency.
Money has to be created only if the value of something increases, so a country economy grows, their amount of money in circulation should increase also. If the amount of money is increased without the increase in value (economic growth) it results in inflation, etc.
If money doesn't work like this it's just like fiat money to me.
Raman it holds the universal value of time. Time is an everlasting currency will always have value. you spend time mining for cryptocurrency, and since you and every other miner/person values their time, the product will have value.
Comparing this to fiat money is disgusting. please dont ever do that again.
Hi mate got my self a couple of RX 470 on order. If they ever come back in stock please could you tell me what MSI after burner settings to put them on and what PSU wattage to buy. would a 750w cover it If I was to add another 470? I currently have my made gaming PC with a 980 selling hashingnpower for around 100 dollars a month.
Morgan Farrell I know mining difficultly goes up and down like the price of the currency. I can not find the history on how much mining difficulty has went up in. How do you get this information, or have you been watching over the years. Do you know of some radical mining technology coming out? How do you know mining won't be profitable in 6 months?
Yes. I know some people are paying much more than that and this is why I have always said that in some cases companies like Genesis Mining are even a better opportunity as there is no electric cost and you don't have to build a rig and you don't have to maintain it. I know people who pay in excess of 0.26per kWh which is insane.
IMHO, right now it's best to just buy ETH and hold it...I have been down that mining path before with BTC and it was not a fun experience. You have to pay the high electricity bills AND hope difficulty doesn't go thru the roof bexause that's your profit. The biggest problem right now with ETH is that it's switching to Proof of Stake by year end, which means only a few months left to mine (minus the break even period). POS requires that you have ETH to begin with before you can host a node and get paid in transaction fees for doing do. In conclusion, it's not worth building any ETH mining rig at this stage of the game.
I read some more about Proof of Stake and it will do so you cant earn money via mineing...
proof of concept = you get paid for the time your pc are calculating algorithm
Proof of Stake = you get paid for the more ether you have in your wallet.
iam considering using MSI Radeon RX 580 8GB GAMING X+ card, would all of the equipment you are using on your build work on my msi card above? is the rx 580 4gb giving you the same speed in etherium mining.
Sadly, I couldn't get deal for rx 580 - But I'm waiting for new when it comes to cards, might be I would get something from rx 470, rx 480 or R9 290. Then Building it and I got inspired from this video and I hope it all goes well for you with earnings :)
Also would there be difference in yields when using ssd over hdd?
As I just posted .. difficulty has going up considerably over last 6 weeks, and will double again in just a few more weeks. Even if electricity is free then I don't see anybody getting ROI in mining if they have to spend $1000 on hardware.
Here is a graph that shows how degree of difficulty has gone up.
Based on the growth curve, you'll be lucky to mine even a single ETH on that rig during all of winter. You'll probably just have to use the system for gaming in 2018 unless your electricity is really cheap.
Speaking from an investor's point of view, the smartest move is NOT to tie up $1000 in disposable income (an estimated cost) mining ETH.
The smart money is to buy $1000 in ETH now and have it appreciate starting immediately.
Hi, thank you for the information. I have read all of it. However I see things differently and of course we both probably have valid points, but I have really looked into this in details and have decided that for me personally the rigs/mining is a better option.
Buying the rig means that I have my money in the rig so therefore if nothing goes wrong with the rig I can always return at list half of my money back by selling it if I choose to do so. I paid $2600 so If I can get back $1300 and actually think that I maybe able to get even more but lets just say half. That mean my investment is only $1300.
I am not going to look in the past so lets look from today onwards an make the calculation. With today price of $260 per ETH for $1300 I and anyone else will be able to buy 5 ETH. Now with my mining rig with today difficulty I will be able to mine 4 ETH a month and I know the difficulty will rise so lets say on average 2 ETH per month for then next 3 months. So I will get 6 ETH. I know there is electricity cost, which will make my profit less but if I pay with USD money rather than with the ETH I mine I will still have 6 ETH. That is just after 3 months. Beyond that I can continue to mine ETH and earn more ETH coins. If I get 1 per month still better than the 5 I bought today. When it comes to a point that mining ETH is not profitable I can switch to ETC, Zcash, Monero, Pascal and many other altcoins and still continue to earn some profits out of it. While if I bought 5 ETH today I will after lets say 1 year still have 5 ETH. Beside that If I want and I know many people are doing it I can do dual mining with my rig for instance ETH/Siacoin and get the Siacoin to cover my electric bill for the month and the ETH mined will be pure profit.
That is how I see things and I understand that we can't be all in the same page and your opinion is different, but I guess every train has its passengers.
Apart of my points above I can't understand one thing. If mining was not producing better returns than buying why millions of miners around the world are doing it? And for me I know why, because it is more profitable than buying. If I had lots of money then maybe I would of consider buying, but when my funds are limited I honestly thing and agree with the millions of miners, mining is more profitable than buying at list for now. Things can change.
He probably mean that POS is coming and that there is talk that it could happen in few months lets say 7 so after POS we may not be able to mine Ethereum with GPU's. However no one knows when POS will happen and what will happen after it does happen. But even if we are not able to mine ETH with GPU's after POS we can switch to other coins and still continue to make profits.
Yes Pos is coming but no one really knows when. But even if it is another 7 months that can be enough to make some great profits and beyond that we can switch to mining something else and continue to make profits. Beside that time will tell :).
I hope few years at list. I know people who have been mining for 5 years with the same rigs. Cards mainly will probably brake eventually but I am lucky it will take long time for them to do so :). If I am even more lucky they may never do and I may upgrade to other cards and sell those ones. I monitor my rigs every few ours with TeamViewer.
I am really new to cryptocurrency and i don't know a lot but i was thiniking of making an ethereum miner like this.
May I ask how much atention does a mining rig like this need? Do you need to look at it every day or just once a week.
I would also like to ask how does GPU owerclocking work, how do other parts beside GPU effect the mining and what sistem is the best for it because i read that some people prefer linux (i never used it before) over windows.
I would also love any tips anyone has.
I would really apriciate your advice.
Thanx for taking time to read this.
Well i will go to college in 4 months which means i will be home only for the weekends. That is why I am concerned about time. Oh and can you check the temperature and if the sistem is working properly on a phone or must you phisiacly check it?
Hi, thanks for stoping by my channel. If you are lucky enough once completed you may not need to do anything to it. However if lets say like me in the summer the heat is an issue you may need to move it around and it may require in the morning to be in one place around the flat and in the evening to be in another :). Of course ideally you want to be at list checking on it and see is it mining and what is the heat of the cards so if anything is wrong you can catch it before is too late. But really it does not need much looking after it. If you compare it to a service like Genesis Mining where you do nothing in here you do have to do a bit of work, but in the enough hopefully is worth for us. People use Linux for different reason such as it is a bit more secure than Windows, it could run more than 8 cards on one GPU and also one very important reason is that Linux is free :).
In regards to the maintenance you are right they can occur, but is hard to predict them. As for the electric cost I have already deducted in the video. But as you said currently is definitely a very good investment and hopefully it will stay that way for many years to come.
Yea £13.50 would of been a killer for us the miners :). BTW, welcome to the mining world and I wish you a very happy and profitable mining. It is quite fun especially the mining rigs as we have to put work into this machine that make us so much money :).
Arhhh sorry, I am a complete dumbass!! I wasn't sure what I was paying so I searched online and found my suppliers tariff's rate is 13.53p per kWh, I read it as £13.53 and not as exactly as it says "13.53p". Appologies :D I am new to mining.
this is a lie ! rx 580 at max load draws off the wall 325Wx6 this is 1944Wph it is 2 times the power you say your cards work at .... it is possible only if cards are on 20-40% load all the time otherwise the 960Wph is an impossible scenario !!!
John Daman some of u are really clueless about míning. I own some 580 and I manage to drop them down to 74 watts while keeping the exact same hashrate. please refrain from saying shits u clearly don't know Shit about. I would never have a tdp of 1000w on a 5 gpus rig
A computer with 1 RX 580 probably draws 325 watts, but this is thr full computer not each graphics card. An RX 580 by itself would probably consume about 140 watts, so if you did 6 RX 580s you would be using 840 watts and then you need to add in the wattage needed by the rest of the system which would be about 185 watts maybe and your total for a 6 RX 580 computer would be about 1025 watts.
Hi, Thanks for your comment and for stopping by my channel. I actually showed my 3 rigs mining but the calculator and the numbers were just for one rig which at that time was 84 days return of investment for one rig mining 170mh/s. I actually now have that rig running at 177mh/s which is very good and the return of investment shows right now being 95 days which is not bad also as the ETH has risen since then.
Hi all! I would need some help! I have a 980 ti nvidia, I know it is not the best for mining, but I have to start somewhere. I have seen values of 15-20 Mhash for GTX 970, I presume, that a 980 ti can do more. Despite of that, I have arranged a mining session, but there I could do only 3,6 Mhash. What is the problem? What can I improve? I would like if someone could help with the proper setup. Thanks in advance!
Infiny Tank with Nvidia you should mine equihash algorithm. Zcash is the best, just use EWBF's Cuda miner and I found flypool to be pretty consistent. I currently have 2 1080ti's that based on my calculations make around 25-30$ a day.
Magnr is a handy cross-platform trading site connected to a few big Bitcoin exchanges. Accounts never require any personal data or identitiy proof. So signup is quick and possible with anonymous data.
Leverage is available at Kraken up to 5x for several cryptocurrency pairs, including bitcoin. The fees are depending on the volume of the margin account.
Bitcoin can be traded on GDAX up to 5x leverage. The margin trading option must be manually turned on the account in order to make sure the users understands and reads the associated risks.
Margin trading is basically borrowing funds to purchase an asset, this allows you to buy more bitcoins that you would normally be able to do normally in the hope of making bigger profits on the price movements.
Advantages of Margin Trading.
The biggest benefit of margin trading is that you can take advantage of the additional funds when the market moves in the direction you expected. The overall profit of the positions once the bitcoins are soled and the loan is repaid is significantly higher compared to an ordinary trade execution.
Disadvantages of Margin Trading.
The disadvantage of margin trading is by nature the amount of risk a margin account can hold. The higher amount of leverage you take the bigger amount of money you can loose in case the market moves in an unfavorable way. Due to the margin call, the margin account must be funded countinuesly that involves significant amount of liquidity. It is only advisable to trade on marking if you have enough experience already on the market. To mitigate the associated risk, many trading platforms only offers limited amount of leverage trading opportunites.