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Rx480 prices.... mining?

malachi said:
What's happening then, mining making a big come back?
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Bitcoin has gone up in price, every time that happens you get a lot of people who missed the boat trying to chase it, they usually lose interest once they realise that and either cut their losses or get out once they break even (then do it again next time the price spikes lol).


dazzlaa said:
I was watching a guys YouTube last night after being intrigued by it all and he said using zcash he could effectively pay for his 1080ti within 4 months of continuous mining using none other than a 1080ti.
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If I bought a FE right now (~£630) and set it mining it would make 0.00293 Bitcoin (~£5.8) a day, that means ~108 days for it to pay for itself. There are of course a number of caveats that make that "free" 1080ti look less appealing:
  • It doesn't include cost of electricity, which unless you're getting it for free will cut into the profit and extend the time to pay off the card.
  • It assumes the value of bitcoin will remain a constant when it won't (could go down or up) and that will effect the timescale.
  • It assumes the amount of Bitcoin made a day will remain static, while in reality it will decrease as global mining power increases (which happens faster after a price jump).
 
I remember mining some new coin back in 2013 for 3 days straight on my crossfire 7950s and they ended up selling 1 year later for over 600 pounds. It paid for my gtx 780 lightning after the price drop. So i can understand why people are interested in mining.
 
dazzlaa said:
Translate it for me lol


Is it worth doing still? Will it fund a new GPU in 3-4 months time like has been said
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To translate, yes it will. The draw per day to run the machine over and above what it was already doing is around 28p per day or 8£ a month on the energy bill. At the end of the month for each RX480 I gain around $200 at current price if you take away the 8% it takes to get that back into my bank account i'm still quids in. You could at current difficulty and current ETH rates pay for another gfx card within a few months. however just a month and a half ago ETH were valued at less than $80 so as others have said its a risk but at worst its going to cost you around a tenner to find out ;) If you have no idea what you are doing you might find it takes you a few hours to get set up but its worth the investment of time to try.
 
Vince said:
To translate, yes it will. The draw per day to run the machine over and above what it was already doing is around 28p per day or 8£ a month on the energy bill. At the end of the month for each RX480 I gain around $200 at current price if you take away the 8% it takes to get that back into my bank account i'm still quids in. You could at current difficulty and current ETH rates pay for another gfx card within a few months. however just a month and a half ago ETH were valued at less than $80 so as others have said its a risk but at worst its going to cost you around a tenner to find out ;) If you have no idea what you are doing you might find it takes you a few hours to get set up but its worth the investment of time to try.
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Problem is literally all rx580's are gone, I was debating buying a pair just to use (maybe try mining) and everywhere is sold out. And since they're selling out i'm assuming retailers will also use this opportunity to price gouge.
 
CREATIVE!11 said:
Problem is literally all rx580's are gone, I was debating buying a pair just to use (maybe try mining) and everywhere is sold out. And since they're selling out i'm assuming retailers will also use this opportunity to price gouge.
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I think its partly to do with how stable opencl mining is compared to cuda mining. I cant seem to get mining using cuda working that well. It seems that mining on AMD cards is preferred as it's just easier to set up and get working well, I have tried using some NV cards and just cant seem to get decent results and stability with them.
 
bimbleuk said:
snip....
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Out of interest where do you trade your ETC? I set a few machines on that rather than eth today and am going to spend a few months getting a little stock pile together. Is there an exchange out there that you know of where I can trade these against ETH to send them to btc-e?
 
Here's me thinking the 580 was a pointless release and suddenly there's a surge in mining which I thought was dead and now 580's are selling faster than they can make then, what do I know
 
Who would pay £300 for a 1070 to mine on that's just stupid. A couple of second hand 470s would hand its ass too it with change left.
 
Lokken86 said:
Who would pay £300 for a 1070 to mine on that's just stupid. A couple of second hand 470s would hand its ass too it with change left.
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That does depend on what you are mining, ETH & ETC the RX 470/80 are the best. But most other alts the RX Series don't compete so well with GTX 10 Series (1070+).

5-6 1070s would wipe the floor with 5-6 RX470 (good luck finding any at £150) on 1 rig. That also holds true for 1080/ti. There are higher costs and power requirements but the reward is potentially higher.
 
Sasahara said:
That does depend on what you are mining, ETH & ETC the RX 470/80 are the best. But most other alts the RX Series don't compete so well with GTX 10 Series (1070+).

5-6 1070s would wipe the floor with 5-6 RX470 (good luck finding any at £150) on 1 rig. That also holds true for 1080/ti. There are higher costs and power requirements but the reward is potentially higher.
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The reward is virtually never higher mining anything but eth/etc or zcash. And you can easy find cheap 4gb 470s or 570s online if you look. They certainly aren't selling for £300 that's for sure.

Just had a quick look. Brand new 480s can be had for 190quid so yeah they did go up in price. I bought the same one for £157 a few weeks ago. 4gb one.
 
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Well Pascal cards tend to favour Zcash, Monero , Lbry and so on, rather than Eth/etc which is RX territory. A 1070 is around 40% better mining Zcash compared to an RX480. Though at the moment an RX480 mining eth probably makes the same as a 1070 mining Zcash. :)

But as Bimble has said, the mid/long term future of eth/ect mining is limited/risky. Leaving zcash currently the only other reasonable option for the RX series, unless other new coins come to the market that favour them.
 
So the RX480 just sold for £300 after being on sale for about a day.


About to upgrade my wife to a Strix 1070 and then set mine and her rig to mine while we are both in bed/at work. :)
 
Does the mining require 8gb or is the cheaper 4gb versions of these cards fine, 3gb even for the 1060 I guess. I used to mine the scrypt coins a while back, the reason alt coins went up a lot is bitcoin is over flowing with transactions and cant handle all the business it needs to. Many then speculate alt coins will be taking over, Ether is possible overly favoured when work could also be done elsewhere.

There is also the nuclear option of not POW but POS which for those who do not know excludes miners, the work is done by deposit holders and does not require GPU at all. Its possible mining on pc becomes history by year end or sooner, not sure but roughly I know the POS wallets can handle all the work done (expensively) by GPU and bitcoin ASIC factories even.
Bitcoin transaction fee can be $85 or more which is stupidly worse then FIAT, POS networks will handle this under $1 and in a few minutes confirm it. Common sense says markets dont pay the ransom and will go low cost but I dont think it'll be simple transition
 
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