Isn't the mining craze pretty much over?

L

_l_

[H]ard|Gawd
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Been checking prices of used EVGA GTX 1070 FTW's on eBay and notice the past week that prices held at $430 average and on the auction listings most had 20-30 bidders per listing. If the mining craze is over then who's buying all those 1070 FTW's ? I'm figuring it's not gamers because for $50 more you can get a brand new 1070 FTW that will have 3 year warranty, not 2 year or less
 
I found new 1070s for 409 shipped. I'm thinking of upgrading from my 1060 to one
 
bufodr_T said:
I found new 1070s for 409 shipped. I'm thinking of upgrading from my 1060 to one
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Lowest used card on ebay is MSI 1070 @ $414, I have no idea where you managed to find new 1070 for that price. But I mention EVGA specifically and for reason ... EVGA backs it warranty and offers it to anyone - it's based on serial #, not who bought the card.
MSI, ASUS and Gigabyte used to do serial # warranties but according to them, it's now only for the original buyer only. EVGA cost a but more than any other brand but it's more than worth it in the interim and the long run as well
 
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The mining craze is probably over for the few people that wanted short term, huge profits, and not have to mess around with more than one coin. Other than that last time I looked market is still worth billions.
 
Maybe I should sell one or both of my 1070's - used for mining for about a day until I figured I could make more money with a few hours of overtime. Well at least one is being used in the HTPC.
 
noko said:
Maybe I should sell one or both of my 1070's - used for mining for about a day until I figured I could make more money with a few hours of overtime. Well at least one is being used in the HTPC.
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Sure you could make more money working overtime. But you could also make an extra $1.75 a day, everyday, doing nothing and mining.
 
Ocellaris said:
Sure you could make more money working overtime. But you could also make an extra $1.75 a day, everyday, doing nothing and mining.
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Is that all? I'm with the other guy, one hour of OT a month would cover that haha, definitely not worth the effort
 
Ocellaris said:
Y'all work hourly? Scrubs :p
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I would say that the worker paid on salary is the scrub. Enjoy your 60-80 hour weeks for the same pay I make on 40.

Mining is an investment just like anything. Takes money to make money and this is no different. To invest in a setup that will make you money takes time and money. Yeah you can make a few dollars doing a very small single box system, but its not shit.
 
nothing-is-over-gif.gif
 
_l_ said:
Been checking prices of used EVGA GTX 1070 FTW's on eBay and notice the past week that prices held at $430 average and on the auction listings most had 20-30 bidders per listing. If the mining craze is over then who's buying all those 1070 FTW's ? I'm figuring it's not gamers because for $50 more you can get a brand new 1070 FTW that will have 3 year warranty, not 2 year or less
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As soon as one coin becomes too hard to farm, another will spring up and take its place. As long as digital currency is legal it will never end.
 
I actually saw a 580 on best buys shelves the other day. So while flipping cards on ebay for profit might be over, mining definitely isn't. I will be interested to see how the market and mining is affected once ETH begins to make the POS transition though.
 
srphoenix said:
I actually saw a 580 on best buys shelves the other day. So while flipping cards on ebay for profit might be over, mining definitely isn't. I will be interested to see how the market and mining is affected once ETH begins to make the POS transition though.
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I think 480's are more sought after than 580's. I could be wrong but I don't think the 580 is much faster but it does consume a whole lot more power.
 
RamonGTP said:
I think 480's are more sought after than 580's. I could be wrong but I don't think the 580 is much faster but it does consume a whole lot more power.
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Can confirm! The price/power/efficiency is about peaked with the 480s right now.
 
Sure doesn't seem over, esp for AMD cards. Friend at work has a farm going with some friends... they are constantly searching for cards.
 
Hakaba said:
The mining craze is probably over for the few people that wanted short term, huge profits, and not have to mess around with more than one coin. Other than that last time I looked market is still worth billions.
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hundreds of billions... just look at market cap on top 2 coins alone and understand why cards will continue to suffer shortages. I just bought 5 more cards this week.
 
Insomniator said:
Sure doesn't seem over, esp for AMD cards. Friend at work has a farm going with some friends... they are constantly searching for cards.
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the amd side was expected to tank but the drivers seem to have possibly saved them.
 
mkrohn said:
hundreds of billions... just look at market cap on top 2 coins alone and understand why cards will continue to suffer shortages. I just bought 5 more cards this week.
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The cost is just not video cards, add in power supplies, motherboards, drives, ram, operating systems, adaptors and the payback gets longer and longer. Also risks as in a bad power supply burning up a rig or some other component and add air conditioning on top of that if in the home.

Anyways thinking of putting my two 1070's to work, 290 or 7970 as well. Maybe even a Nano if I get a Vega LC (they never seem to be in stock). Put them on an AM3+ ASUS Sabertooth motherboard with either a 9590 downclocked and undervolted or 8350 the same, cheapest (good enough quality gold rated power supply 1000w) and basically use them up. Unless someone wants to buy my 1070's I might as well put them to good use (currently I have one in the HTPC but the 290 or 7970 would work just as well). I just can't see paying for whole rigs with current pricing would even be remotely worthwhile but what do I know.
 
noko said:
The cost is just not video cards, add in power supplies, motherboards, drives, ram, operating systems, adaptors and the payback gets longer and longer. Also risks as in a bad power supply burning up a rig or some other component and add air conditioning on top of that if in the home.

Anyways thinking of putting my two 1070's to work, 290 or 7970 as well. Maybe even a Nano if I get a Vega LC (they never seem to be in stock). Put them on an AM3+ ASUS Sabertooth motherboard with either a 9590 downclocked and undervolted or 8350 the same, cheapest (good enough quality gold rated power supply 1000w) and basically use them up. Unless someone wants to buy my 1070's I might as well put them to good use (currently I have one in the HTPC but the 290 or 7970 would work just as well). I just can't see paying for whole rigs with current pricing would even be remotely worthwhile but what do I know.
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Look up a asrock h110 btc pro 13 gpu board for $130

Or a biostar tb250btc pro 12 gpu board for $150 (my preference)

Buy the cheapest celeron 1151 price for ~$40 (that includes retail heat sink and fan)

Buy the cheapest 8-16gb of ddr4 ram you can find.

Buy however many pci-e X1 riser boards you need.
 
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rest of the system outside of the graphics cards should only be around 400 bucks *pretty much another graphics card cost.
 
razor1 said:
rest of the system outside of the graphics cards should only be around 400 bucks *pretty much another graphics card cost.
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Are you using Linux?

Can you list a good from scratch mining rig (cpu, motherboard, power supply, ram, OS, drive, case or what is used to hold it all together) for $400?

My Sabertooth has four pcie2 16x slots (16x, 16x plus 4x or 16x, 8x,8x plus 4x) - all can drive a video card, not sure of the two 1x pcie slots. What cheap motherboard can do that?

I pretty much have everything except power supply, will be buying an open case because I don't feel like building a rack at this time for it. So my cost will be around $200, I have cpu's, motherboards, ram, gpu's, OS, SSD's, hard drives. Going with a 1000w power supply, gold for power efficiency. I figure 2 1070's 275w, 290 (200w), Nano or 7970(175w, rest of system 100w while mining at most = 750w which would put it at it's highest efficiency of the 1000w power supply.
 
sure

Biostar mining motherboards, any of them from 6 to 12 is good 100 to 150 bucks

That many risers, I get them from ebay, get a few extra if anything fails its probably the risers lol 40 bucks for 6

Corsair 620w platinum to power the risers and motherboard 100 bucks

HP 1200 watt server power supply platinum w/ x-7 breakout board 75 to 100 These will come with the power cables that you need too, sometimes you need to buy them separately * the power supply, breakout board, and power cables*

120 gig SSD 40 bucks

celeron g1620 processor 40 bucks

memory 4 gb ddr 4 40 bucks

you can get used working processors for less to, cause solid state parts usually don't fail so you can drop that to 20 bucks and the memory too to 20 bucks. But I would get the retail just to be on the safe side.

Build the rig yourself get some 1"x2" pinewood and start cutting lol, for 10 bucks you can make a case for it, instead of spending 100 bucks. It only takes 30 mins once ya have the dimensions. DO NOT GET COMPRESSED WOOD it makes it much harder ;)

Forgot I use Windows, Linux is just as good though although with AMD cards can't do more than 6 yet on linux on a single system, gotta wait for drivers.
 
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Good breakdown - thanks

How much for that server power supply?

I am too chicken shit using tinder wood to mount parts that will be operating around 100% days in and out :shy:. I was thinking about aluminum but then the where I will place it so it is out of the way became an issue. So case below for $75 solved my issues of fear and where to put it ($99 - $25 gift card which will be used on power supply):
https://www.newegg.com/Product/Product.aspx?Item=N82E16811133313

Case.jpg
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Power supply Raidmax 1000w gold: Has 6 6+2 pcie power connectors which will support the four cards
https://www.newegg.com/Product/Product.aspx?Item=N82E16817152059

Everything else I have. If it doesn't work out I have use for the case in another project as well as the power supply.
 
you can the server power supply for around 50 to 75 bucks I kinda went to used ones now because its hard to find new ones lol.
 
razor1 said:
you can the server power supply for around 50 to 75 bucks I kinda went to used ones now because its hard to find new ones lol.
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I found the HP server power supplies but they are the plug in types with no cables or pcie power connectors. 6 USB risers is also around $52. Anyways I am going to use what I have for parts for the most part. Buying used makes a lot of sense as well. Can't believe I will be using a Bulldozer cpu again :oldman:, maybe disabled 2 modules since it will not be needed.
 
Just sold my 1070 turbo for $350 and upgraded to a 1080ti. Not bad for paying $409 new and using it for a year.
 
noko said:
I found the HP server power supplies but they are the plug in types with no cables or pcie power connectors. 6 USB risers is also around $52. Anyways I am going to use what I have for parts for the most part. Buying used makes a lot of sense as well. Can't believe I will be using a Bulldozer cpu again :oldman:, maybe disabled 2 modules since it will not be needed.
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yeah you need to get a breakout board, X-7 with those.
 
From what Ive seen, there's even people buying the VEGA for mining. Im guessing these ppl live in a very cheap electricity cost country.
 
The mining craze will continue as long as BTC prices are high enough to make it profitable. People use cards to mine fresh altcoins in the masses and sell for BTC.
 
doz said:
I would say that the worker paid on salary is the scrub. Enjoy your 60-80 hour weeks for the same pay I make on 40.
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Huh? I've been on salary for 7 years now and never worked more than 40 hours in a week. If I stay for more than 8 hours in a day during the week then I am leaving early on friday.
 
Archaea said:
I think it's really here to stay --- for better or for worse.
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Yep it is and eventually it will become just like Fiat money regulated, but its going to take time many years, cause we all know governments are way behind the tech curve ;)

But there will be a point where the weaker coins will just disappear, there will be a bubble and the strong will survive and they will become the standards.
 
SirMaster said:
Huh? I've been on salary for 7 years now and never worked more than 40 hours in a week. If I stay for more than 8 hours in a day during the week then I am leaving early on friday.
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You are lucky, and if you a manager even more lucky lol cause they have to work when there is work to be done and won't get overtime for it either.
 
noko said:
The cost is just not video cards, add in power supplies, motherboards, drives, ram, operating systems, adaptors and the payback gets longer and longer. Also risks as in a bad power supply burning up a rig or some other component and add air conditioning on top of that if in the home.

Anyways thinking of putting my two 1070's to work, 290 or 7970 as well. Maybe even a Nano if I get a Vega LC (they never seem to be in stock). Put them on an AM3+ ASUS Sabertooth motherboard with either a 9590 downclocked and undervolted or 8350 the same, cheapest (good enough quality gold rated power supply 1000w) and basically use them up. Unless someone wants to buy my 1070's I might as well put them to good use (currently I have one in the HTPC but the 290 or 7970 would work just as well). I just can't see paying for whole rigs with current pricing would even be remotely worthwhile but what do I know.
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the world could end tomorrow too! So why not mine lol! if this then that bla bla! Hardware is meant to be used. Your computer could blow up just like my mining rigs. I am sure the odds are the same! Lets keep the doom and gloom away from proper debate! please! Thanks!
 
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