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Rx480 prices.... mining?

In theory you can mine with a pencil and an old envelope. Some clever maths guy worked out his hashing ability to do this. Had he arrived days after bitcoin was invented he'd even have a use, to submit his ideas manually travelling to a library to submit.
There is an official TCP over carrier pigeon protocol/usb stick also :p Its not impossible he'd solve a block and gained 50 coins as reward, unlikely but protocol allows for very easy difficulty and some people are amazing at maths. 50 btc now had he kept them till now would have meant he was paid over $3,000 an hour for his work.

Silly but bitcoin is open source and anyone can start a copy of it and call it anything. IF the coin is used, the worth takes off. SO you can time travel back to bitcoin day 1 if you want. If fact people have done this and self mined the coin before then releasing it more openly. So they operated no internet connection for mining and made money.
Repeat that if you like, some think its dishonest but I think it resembles central banking in FIAT

Anything is possible, if you want to take an interest its strangely possible to do well in crypto. If you meant strictly to ask about the major coins then you need to be in constant contact because you are competing to solve first.
Some coins solve a block, process transactions every 10 seconds where bitcoin allows a 10 minutes cycle hence its recently flooded with overuse. Use a 56k modem maybe or cell plan.
7950 is considered very old now but I read many admiring how well it operates, 480 is apparently optimal neither can solve bitcoin in any likelyhood
 
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iamthenugget said:
if thats the case then thats great return
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DragonQ said:
If you got in at the right time. It's not as easy as it sounds, all of these people buying cards for £500+ for mining are not going to get anywhere near that return as they are jumping on the bandwagon relatively late in the game; difficulty will increase and the price will crash (before recovering somewhat). It's a regular pattern with cryptocurrencies so you have to be smart/lucky/bit of both to pick the right ones at the right time to make any serious dough.
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If I read it right he said that *not* spending that 2 grand on a mining rig, and instead using that 2 grand to directly buy cryptocurrencies (12 months ago) would have made you 50 grand by now (his words, not mine).

Ie, speculating on the value of the currency going up, not actually doing the mining.

The return on actually mining with a 2k rig is nowhere *near* 50k over 12 months. Nowhere near.
 
PapaLazaru said:
Was watching some 390's on Ebay last night. Final auction prices seem to be around £270 / £300. Think I might flog mine and buy something real cheap just to browse with for a while.
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Also tempted to sell mine. I paid £240 for my 390X and getting my money back + more. I might just stump a little extra for a 1070....
 
FoxEye said:
If I read it right he said that *not* spending that 2 grand on a mining rig, and instead using that 2 grand to directly buy cryptocurrencies (12 months ago) would have made you 50 grand by now (his words, not mine).

Ie, speculating on the value of the currency going up, not actually doing the mining.

The return on actually mining with a 2k rig is nowhere *near* 50k over 12 months. Nowhere near.
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Exactly, my little bro has made a lot of money with Monero and Ripple. Mining seems to be worth it if you already have the cards and there is a return on buying a mining rig but the serious money is in speculative investments. Looking into the coins to see what technology or markets they have over others helps you figure out where to best invest.
 
Gibbo said:
Had a 1000W Superflower sat at home from my old PC, was a couple years old but thought why not throw it on ebay and see what it fetches. £155 ! :D
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The crazy thing is, for that price you could get 3-4 1000w gold rated HP server PSUs (it's common in mining to use a cheap 300-400w PSU for the board/cpu and surplus 1+KW server PSUs for the cards) so the people paying that are the same guys paying new GTX1070 prices for used AMD cards that don't mine as well. We're in sort of a bizarre situation now where all the people causing the "mining shortages" aren't actual miners just people trying to jump on the bandwagon after the ship has sailed and blowing money they will never see back.
 
FoxEye said:
The return on actually mining with a 2k rig is nowhere *near* 50k over 12 months. Nowhere near.
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Actually, if you built a £2k mining rig 12 months ago and spent the whole time mining Ethereum you would have made over $190k, obviously not many people whould horde all the coins the made but you can see how some Ethereum miners got very very rich.
 
Would I get much for my Sapphire Nitro+ RX480 8Gb I wonder?

Didn't realise mining had hit GPU stocks as much as it had until I saw this thread.
 
HRL said:
Would I get much for my Sapphire Nitro+ RX480 8Gb I wonder?

Didn't realise mining had hit GPU stocks as much as it had until I saw this thread.
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The place that i got my RX480 was ok to take back for a full refund , even after 3 months of getting the card. I could have sold it for £280-£300 , but just didnt want the hassle.
 
Think I only paid £250 for it as a pre-order on here anyway. TBF, I've used it for the past 9 months or so, can't imagine OC would want it back. :)

Toying with RX Vega now, what with it finally being on the horizon.
 
Its not for me to tell anyone what to do but I think its a no brainer to swap the 480 for Vega if you only want the latest graphics. Looks like Vega will need driver updates post release but whatever happens its going to be better then 480 at graphics and my easy guess is its worse at mining per kilowatt/h
 
HRL said:
Would I get much for my Sapphire Nitro+ RX480 8Gb I wonder?

Didn't realise mining had hit GPU stocks as much as it had until I saw this thread.
Click to expand...

I think you've missed the train unfortunately. Yes you'll get a lot for your card, over £300 with ease, but you'll struggle to find a decently priced alternative anywhere. Even the 2nd hand market has dried up slightly.

About a month ago there were still ~£300 1070's so it was a nobrainer, but 1070s have increased by around £100 and most are out of stock.
 
Colleague of mine recently flogged a 470 for £300

Figured he could happily live without a GPU for a couple of months and catch up on Reading/Movies/It's Summer
 
AiiR said:
I think you've missed the train unfortunately. Yes you'll get a lot for your card, over £300 with ease, but you'll struggle to find a decently priced alternative anywhere. Even the 2nd hand market has dried up slightly.

About a month ago there were still ~£300 1070's so it was a nobrainer, but 1070s have increased by around £100 and most are out of stock.
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Was thinking perhaps more of going without a GPU for a bit and then jumping onto RX Vega.

Finish off some PS4 games for a bit instead.

Bought the 480 as I wasn't prepared to pay the Nvidia tax at the time.
 
Finally got round to finding a replacement after selling my 480. Miners bought it for a great price, but also made the 1070's more expensive. Oh well, only cost about £40 more than it should. I was going to wait for prices to return to normal, but got bored of that after ~4 weeks.
 
So when is this nonsense going to end. By that I mean when will it be possible to buy a RX570/580 for gaming use at a normal retail price (£180 or £230) ?

I can also see a flood of hard worked cards being sold secondhand when the next gen of mining hardware becomes available.... After each bubble there is a bust (maybe in the hardware more so than Etherium)
 
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