I was thinking of dipping my toes into Crypto Mining. I dont have time anymore to play a lot of games and was thinking of using my 2 rx480s for mining.
Does anyone have any experience?
Does anyone have any experience?
Crypto Mining
- Thread starter LordRendar
- Start date
A few people here have played with it:
https://www.halforums.com/threads/bitcoin.29226/
https://www.halforums.com/threads/crypto-currency-mining.30253/
My 8 litecoin I mined years ago are now worth around $500, and it was a week's worth of mining on an AMD 7850 at that time. I used a pool (coinotron) and last time I checked (a month or two ago) they still had my coins (too lazy to manage my own wallet) and if you're going after the big coins with a small rig you should look into pools like that.
I did suggest years ago that people interested in speculation should just get a few dozen of each of the easiest coins and sit on them. If any one of them pay off years later, great, if not, no big loss. Looks like that would have paid off if I had followed my own advice.
The one thing you can almost always count on, though, is that buying them is almost always cheaper than the electricity to mine them. So if you're going to mine them, be aware that you're really only doing so as a hobby. If you are "investing" then you'll generally come out ahead buying them.
https://www.halforums.com/threads/bitcoin.29226/
https://www.halforums.com/threads/crypto-currency-mining.30253/
My 8 litecoin I mined years ago are now worth around $500, and it was a week's worth of mining on an AMD 7850 at that time. I used a pool (coinotron) and last time I checked (a month or two ago) they still had my coins (too lazy to manage my own wallet) and if you're going after the big coins with a small rig you should look into pools like that.
I did suggest years ago that people interested in speculation should just get a few dozen of each of the easiest coins and sit on them. If any one of them pay off years later, great, if not, no big loss. Looks like that would have paid off if I had followed my own advice.
The one thing you can almost always count on, though, is that buying them is almost always cheaper than the electricity to mine them. So if you're going to mine them, be aware that you're really only doing so as a hobby. If you are "investing" then you'll generally come out ahead buying them.
I believe the general consensus is you will spend more on electricity than you will make in mining crypto-currency.
By the time Joe average computer user finally decides to jump in, this tends to be the case, yes.
Most everything gravitates towards ASICs eventually, some sooner than others. Once people discover "the easy way," whatever it is, it tends to quickly spiral beyond the point where an individual can make any progress on his/her own.
--Patrick
I tried mining for three weeks and never even got through the blockchain download - but I don't have 2 rx480s.
These days, people seem more willing to gang together a bunch of the #2 cards (470, gtx 970, 1070) because their performance is only a little less, but their power consumption is a lot less.
--Patrick
Nvidia is expecting ’no contributions’ from crypto-related sales for the rest of the year
YES DIAF YOU ELECTRICITY-SUCKING, GREEDY BASTARDS
—Patrick
YES DIAF YOU ELECTRICITY-SUCKING, GREEDY BASTARDS
—Patrick
Some recent advice for people thinking about starting to mine crypto as a hobby:
hothardware.com
This site tends towards sensationalism, but the point is still valid.
--Patrick
Crypto Crashed So Hard It May No Longer Be Profitable To Mine Ethereum
If you're thinking about mining Ethereum as a side hustle, you should probably shelve the idea for the time being.
This site tends towards sensationalism, but the point is still valid.
--Patrick