So if your a normal user and hate GPU mining,get over it.Try this

[Doobedoo]

Its profitable, however the issue is when you actually want to use your system/play games. Mining really works best if you just leave it and forget about it. Is why people have separate mining rigs they just leave running 24/7

If you left that going 24/7 for a month its £90 profit. However if you used your system periodically its a lot less.

I don’t game an awful lot, an hour here or their. I don’t think it’s going to be a money making scheme for me, but, as I have solar panels it makes sense for me to leave it running during the day while I’m at work as it’s essentially costs me nothing, over night I only pay 8p per kw/h so it’s pennies.

 

[K1LaW8tt5]

I think people are forgetting bitcoin has the potential to be worth 10* it's current value in a few years. If you mine a coin over a year or two (or even 0.1) of a coin and it goes to 100, 000 that's some very healthy profit. So it's not how much your earning per day but the potential it has to be very profitable. A lot of predictions stating it could be worth 3-400k. Having just. 0.3 of a coin then would be life changing for the likes of myself.

Up,up and away.

If you don't have the coin when it peaks it's a bit pointless calculating profitability as the price can come down and also the amount your GPU will earn (in BTC) over the next 1 or 2 years will come down so getting to 0.3 of a coin will take you a very long time on a single 3080.

 

[SkillTim]

Is the environmental impact an issue if you're with a supplier that guarantees 100% renewable energy supply?

Why are people concerned with electricity cost? At current rates it accounts for ~$0.40 per $12.70 you make. Also, you're using electricity for more "selfish" pursuits than mining. After years of weighing it up, mining is now "good" for my family; that takes priority.

 

[gpuerrilla]

Then I am guessing you are lumping people who go for a ride in their car/on their motorbike "for fun" to also be bad wasters.

I mean, if you spent all day taxing your gpu playing games purely for your entertainment, that is fine, but if you use the same power for mining, that is bad?

His logic is terrible. Saltiness could be channelled into positive energy (which is green)!

 

[decto]

I have to work from home, I'm a first time miner, but I have my PC under the desk mining.
Keeps the room nice and warm without having heat the entire house all day and at least I get more utility than the electric fan heater

With todays price crash I'm now only making ~310% profit on the electric cost.

 

[Doobedoo]

Environmental impact and cost of energy are 2 different things I guess.

 

[gpuerrilla]

Here is an article for you @FoxEye , try not to have a conniption. Where does it end? <Insert X> is bad for the planet and wasting resources.

Spoiler: TLDR

Researchers at OpenAI in San Francisco revealed an algorithm capable of learning..it required more than 1,000 desktop computers plus a dozen machines running specialized graphics chips crunching intensive calculations for several months.

The effort may have consumed about 2.8 gigawatt-hours of electricity..That’s roughly equal to the output of three nuclear power plants for an hour.

Artificial intelligence routinely produces startling achievements, as computers learn to recognize images, converse, beat humans at sophisticated games, and drive vehicles. But all those advances require staggering amounts of computing power—and electricity—to devise and train algorithms.

 

[SkillTim]

I have to work from home, I'm a first time miner, but I have my PC under the desk mining.
Keeps the room nice and warm without having heat the entire house all day and at least I get more utility than the electric fan heater

With todays price crash I'm now only making ~310% profit on the electric cost.

Me too. Some people don't know efficiency.

 

[gpuerrilla]

Both good and valid points:

Is the environmental impact an issue if you're with a supplier that guarantees 100% renewable energy supply?

I don’t game an awful lot, an hour here or their. I don’t think it’s going to be a money making scheme for me, but, as I have solar panels it makes sense for me to leave it running during the day while I’m at work as it’s essentially costs me nothing, over night I only pay 8p per kw/h so it’s pennies.

Dont waste too much effort hating miners. All industries out there are being wasteful and globally dwarf the energy a random bedroom miner using his gaming machine is using..

 

[alec]

Why is this thread here?
there is a whole forum section dedicated to crypto and presumably crypto hater discussions, both of which do not belong in Hardware/Graphics Cards
https://www.overclockers.co.uk/forums/community/crypto-currency-mining.158/

thread should be moved.

 

[Bug One]

Much more fun to flash the monies. Lol.

 

[Jimmy Weirdarms]

No, mining can **** off.

Crypto is a complete waste of resources, an environmental disaster, and a solution to a "problem" that isn't even a problem. "Oh noes the evil fiat! The evil gubment controlling our monies!"

It's also another get-rich-quick ponzi scheme.

I hope it fails, crashes and burns, and becomes a footnote in history.

I rarely find myself in such violent agreement with your good self, but yes. Cryptocurrency is a ******** disaster. Competitive burning of energy, rife with fraud, a huge waste of time and resources.

There is also good reason to believe that the current rally is mostly down to the market manipulation of the tether organisation, one last hurrah before the New York attorney general really sinks their teeth in, from January the 15th. I'm not saying it will definitely crash, it's an irrational, entirely psychology based, speculative market. But if you *are* making gains out of this, remember to take some profit out of the system, because it could go **** up at any moment.

(a timely reminder from the FCA has been published today - https://www.theguardian.com/busines...a-warns-consumers-risk-productis-cryptoassets )

 

[keyser]

What would you say to people that want to get into mining but can't because all the cards have been bought by miners?

 

[Doobedoo]

What would you say to people that want to get into mining but can't because all the cards have been bought by miners?

Try harder? I picked mine up quite easily from OcUK. Placed an order 2 days later it was being shipped.

 

[gpuerrilla]

Why is this thread here?
there is a whole forum section dedicated to crypto and presumably crypto hater discussions, both of which do not belong in Hardware/Graphics Cards
https://www.overclockers.co.uk/forums/community/crypto-currency-mining.158/

thread should be moved.

Correct, they would not post the hatred on there as some seem to stick to one forum area or the crypto guys would drive them out with pitchforks they bought through mining/trading proceeds!

 

[Bug One]

I can't belive GPU mining is still a thing. I thought it was all made redundant by asic miners.

 

[gpuerrilla]

Its not really a thing, its only gamers on a GPU forum whining because someone decided to **** stir. Anyone that has a clue about mining will know there is CPU mining, ASIC mining, FPGA mining and GPU mining with the green planet saving PoW mining too (set up online nodes).

GPUs are also good at calculations for scientific projects and areas like AI so you could argue (and dedicate some of that hot air hatred) that Universities and private researchers are soaking up all the GPUs for their calculation rigs! Some establishments order bulk units to create their own research machines, I remember one or two universities the last mining boom in 2017 sidestepped the flak but they were guilty of ordering double digit units of 2080Ti's.

 

[Jimmy Weirdarms]

Was there ever a shortage of 2080Tis? I know the radeon cards around the 480/580 days went insane, but by the time Turing came along the mining craze had died down. A few academic institutions buying up research machines pales in comparison...

 

[Jimmy Weirdarms]

I can't belive GPU mining is still a thing. I thought it was all made redundant by asic miners.

Depends on the coin, some are made ASIC-resistant, and those tend to be the ones mining is still viable on. It wasn't a thing for about two years while the prices stayed low, but as BTC has rocketed, and dragged some of the other coins with it, it becomes financially viable again for a while. As more people get in on it the rewards will drop until it's break-even again, and that's if the coins prices don't plummet in the mean time.

 

[ttaskmaster]

RTX 3080 can make $10 USD a day.

Is that all?
So much effort and expense just for an extra tenner? I could make three times that (and in GBP) in just an hour from servicing one of my neighbours' cars!
Is it mining 24/7, or do you get to actually use the computer for stuff?