LHR fully 100% unlocked now - expect GPU prices to rise

Dicehunter · 10 Oct 2021 at 11:18

Psycho Sonny said:
You need an efficient modern current gen gou to make it worthwhile but for that £60 a month you were likley looking at £5 a month of leccy. You can also still use the rig. You can do everything bar game when mining and if you want to game you can turn mining off and then back on again when finished.

Don't see the issue myself

Using a 3080 Ti but I just don't see the point in putting undue stress on the system for long periods of time for an extra £2 per day especially when GPU's are bloody hard to get hold of right now and RMA's would likely take a fair while should anything go wrong.

Psycho Sonny · 10 Oct 2021 at 11:41

Dicehunter said:
Using a 3080 Ti but I just don't see the point in putting undue stress on the system for long periods of time for an extra £2 per day especially when GPU's are bloody hard to get hold of right now and RMA's would likely take a fair while should anything go wrong.

It's actually $4.45 profit per day

https://whattomine.com/gpus/61-nvidia-geforce-rtx-3080-ti?cost=0.21

$5.66 per day before electric

Dicehunter · 10 Oct 2021 at 11:47

Psycho Sonny said:
It's actually $4.45 profit per day

https://whattomine.com/gpus/61-nvidia-geforce-rtx-3080-ti?cost=0.21

$5.66 per day before electric

Which comes out to just over £3 per 24 hours of mining which means not being able to use my rig properly, I'll pass thanks

Psycho Sonny · 10 Oct 2021 at 11:56

Dicehunter said:
Which comes out to just over £3 per 24 hours of mining which means not being able to use my rig properly, I'll pass thanks

I've already explained you can use your rig properly your choice though.

NZXT30 · 10 Oct 2021 at 12:00

Dicehunter said:
Which comes out to just over £3 per 24 hours of mining which means not being able to use my rig properly, I'll pass thanks

It's less than 3 pounds Sonny used electricity cost in dollars. It is indeed barely worth it.

Psycho Sonny · 10 Oct 2021 at 12:13

NZXT30 said:
It's less than 3 pounds Sonny used electricity cost in dollars. It is indeed barely worth it.

21 cents is 15p which is my current rate. Unless the exchange rate has changed since I last checked

Dicehunter · 10 Oct 2021 at 12:17

Psycho Sonny said:
I've already explained you can use your rig properly your choice though.

And I've already explained my stance, I use my GPU for more than gaming, Mining would cut into it making it unusable for my specific tasks, £3 per full 24 hours of mining while not being able to use my GPU is not worth it at all, If I had a 2nd rig that I wanted to mine with yeah sure but I don't.

Joeyuk · 10 Oct 2021 at 12:19

Dicehunter said:
I actually use my rig though, At night it gets turned off and the time I did try mining I got maybe £2 per day which wasn't worth the outlay in electricity and the inability to actually use my rig.

That’s fair enough, I wasn’t saying you should mine I was just disagreeing with you statement about mining not being worth it anymore.

I use my PC as much as I want since I’ve got 2 pc’s each with 2 gpu’s in them. When I want to game I just turn off mining on the 3080 and happily game away then when I’m done I mine on it again.

Psycho Sonny · 10 Oct 2021 at 12:33

Dicehunter said:
And I've already explained my stance, I use my GPU for more than gaming, Mining would cut into it making it unusable for my specific tasks, £3 per full 24 hours of mining while not being able to use my GPU is not worth it at all, If I had a 2nd rig that I wanted to mine with yeah sure but I don't.

You don't need to mine 24 hours per day either. You can mine whilst asleep if you use your computer whilst awake

Sarge2255 · 10 Oct 2021 at 13:32

Psycho Sonny said:
You don't need to mine 24 hours per day either. You can mine whilst asleep if you use your computer whilst awake

But all this, as Dicehunter said, is not worth it, energy prices are going to rise to couple hundred of pounds on our energy bills. £2 per day or less, risking your £1K plus GPU for that, and when those increased energy bills cut in, it might just not be worth it, unless you are a proper miner with many GPU setup and are doing mining full-time and then there are taxes to pay if you do, which many are not considering until they get hit with a tax bill.

Pitta · 10 Oct 2021 at 14:34

GhostDog1981 said:
Isn’t this unlock basically mining 2 profitable coins at the same time? That’s not really an unlock.

it's not a 100% unlock. just a click bait title. Eth is the only coin that is locked. a 100% unlock would mean Eth can be mined fully, but that's not the case at all.
heck this ' unlock' is even worse than just mining Eth at 70%. it's 30% Eth - which is most profitable coin - and 70% alt coin.

Joeyuk · 10 Oct 2021 at 17:44

Pitta said:
it's not a 100% unlock. just a click bait title. Eth is the only coin that is locked. a 100% unlock would mean Eth can be mined fully, but that's not the case at all.
heck this ' unlock' is even worse than just mining Eth at 70%. it's 30% Eth - which is most profitable coin - and 70% alt coin.

It’s more profitable to mine 30% eth and 70% alt then it is to mine just 70% just eth. It’s will never be a 100% unlock and miner have known that but have still brought them.

For a real miner and not just a hobby miner (like myself) efficiency is the most important thing. With this workaround they make more per card, they have been buying lhr right from the start. This just makes it more interesting for hobby miners who have stayed away from lhr in the most part so far.

Poneros · 10 Oct 2021 at 17:46

Are people really this short-sighted? "Only" £3 a day? Aka £1100 a year AND you still have the GPU (+years of warranty). But that's not worth it? Just wow. :eek:

gpuerrilla · 10 Oct 2021 at 17:55

Poneros said:
Are people really this short-sighted? "Only" £3 a day? Aka £1100 a year AND you still have the GPU (+years of warranty). But that's not worth it? Just wow.

Yes. However some just don't like mining/miners as they see GPU's that have not made it to 'gamers'. They seem really bitter about this and it shows. Like your point made though, most gamers can mine to make up for the expensive component outlay (or the gamers are also miners *shock horror* its like your not allowed to be both). Some have also made more money selling their last GPU and the upgrade has been free!!!

You still have the scalpers and AIB's making their margins which you cant always blame on other factors.

Harlequin · 10 Oct 2021 at 17:59

Meanwhile Proof of Stake has been pushed back (again) till end 2022

The Eth2 upgrades | ethereum.org

gpuerrilla · 10 Oct 2021 at 18:09

Really? Been out most of the day with the kids, didnt see any news of this.

Poneros · 10 Oct 2021 at 18:53

That's funny, already saw 3080s go up in price >15% in EE this week (1800 €). That explains it.

Joeyuk · 10 Oct 2021 at 20:01

Poneros said:
Are people really this short-sighted? "Only" £3 a day? Aka £1100 a year AND you still have the GPU (+years of warranty). But that's not worth it? Just wow.

pretty much how I started, got my 3080 and wanted to recoup some of the cost. Now got 4 cards mining.

If someone is just dead set against mining I understand but people who say they can’t be bothered or it’s not worth it I just don’t understand. You can’t get your card for free with 6-7 months mining while ur not using it.

Twinz · 10 Oct 2021 at 20:32

Harlequin said:
Meanwhile Proof of Stake has been pushed back (again) till end 2022

The Eth2 upgrades | ethereum.org

Where is "end 2022" mentioned in that link?

Sarge2255 · 10 Oct 2021 at 21:13

Twinz said:
Where is "end 2022" mentioned in that link?