Mining set up advice

whoisthis

n00b
Joined
Apr 24, 2021
Messages
9
i've just started mining on my PC for a few days and i think i would like to up my game. This is what i want to do.
Here are some things that i want to achieve:
at least 20K$ a year profit
Not too loud. maybe under 60db. Under 50 would be so nice.

I'll be running it in my living room.
I currently have RTX 2080 TI on my PC and hashrate shows around 50MH/s. At this rate, Minerstat shows $114.45/month profit. with Ethermine pool.
So in order to make 20k$ a year, id need 18 of RTX 2080 TI or less with graphic cards with higher hashrate?
i don't know if the calculation is as simple as this.

I'm not so sure how loud it'll get with 12 graphic cards but overall size wise, it's doable for me.
I don't have a set budget but i'm thinking i can pull out about 6k$ now.

Thanks
 

oblox

[H]ard|Gawd
Joined
Nov 27, 2013
Messages
1,062
It's not as simple as that because the underlying hashrate is likely to increase, causing difficulty to increase, causing profits to decrease. Further, there is the unknown of EIP-1559 in July and how that will impact mining profitability. There is also the changing price per coin dynamic as well as the fact that your upfront cost for those cards is going to be pricey due to shortages. Have you checked the prices of 2080tis?
 

auntjemima

Supreme [H]ardness
Joined
Mar 1, 2014
Messages
8,003
If all scenarios were perfect, no EIP or POS on their way, and you could guarantee no increase in difficulty and no change in gas prices and factor in electricity use, sure, it's doable. That $115 is also based on ETH not changing value and being steady.

Lots of factors. Your biggest issue will be the start up cost. You will never find that many 2080 tis for 6k. You are likely staring into the 15k abyss.
 

NightReaver

Limp Gawd
Joined
Apr 20, 2017
Messages
472
Lots of factors. Your biggest issue will be the start up cost. You will never find that many 2080 tis for 6k. You are likely staring into the 15k abyss.
Way more than that. A 2080ti is easily over 1k on most sales. I'd much rather find Radeon 5700s.
 

whoisthis

n00b
Joined
Apr 24, 2021
Messages
9
I'd still think people are going to keep mining though with EIP 1559.
So it seems like average Joe is mining like $1k/month or $500/month max since the good GPUs are impossible to get.
what's the best GPU that i can buy now in the market? everything soldout down to gtx 1080 which sells for 1k$
 

NightReaver

Limp Gawd
Joined
Apr 20, 2017
Messages
472
I'd still think people are going to keep mining though with EIP 1559.
So it seems like average Joe is mining like $1k/month or $500/month max since the good GPUs are impossible to get.
what's the best GPU that i can buy now in the market? everything soldout down to gtx 1080 which sells for 1k$
Probably look at some profitability charts and then see how far you go down until you find a card that hits an acceptable rate of return for ya. That's assuming of course that the mining craze doesn't crash like it has before and you have the income to keep those cards that you paid for an inflated value going until the next (hopefully) boom.

I of course don't know much about this subject since I'm using cards I already had. To me it seems like buying in at the peak which can backfire.
 

auntjemima

Supreme [H]ardness
Joined
Mar 1, 2014
Messages
8,003
Probably look at some profitability charts and then see how far you go down until you find a card that hits an acceptable rate of return for ya.
This is where I was when I bought the cards I did. 2-4 month ROI I was ok with, but 7-10 (which most 30 series cards will be) was just too far ok the horizon to take the risk. I would like to make money AFTER my ROI, lol
 

Andrew_Carr

2[H]4U
Joined
Feb 26, 2005
Messages
2,050
Keep a few things in mind:
1.) Current profits won't remain constant. Block size increases, network hashrate increases, etc. can all push mining profitability down over time. If prices continue to rise on the coins you're mining and you hold them speculatively you can offset that. (That's a big IF). ROI you see on any online calculator is probably based on relatively recent profitability. If this profitability gradually declines it means a longer ROI time than estimated.
2.) You're competing against the rest of the network. If your operating costs (primarily electric rates) are higher than everyone else you'll get priced out unless you have free electricity.
3.) ASICs are coming. They're already here, but until now haven't been all that great for mining ETH. Antminer now has the E9 that gets 3GH/s at 2556W or so. That's 1.17 MH / Watt. The most efficient GPUs are getting about 0.5 MH / Watt. This isn't nearly as bad as the Bitcoin ASIC situation was, but they're still 2-4x as efficient as the GPUs people are using to mine.
4.) Limiting yourself to 60dB is going to force you into using ATX power supplies which are more expensive and less power efficient than a server PSU. This makes you less competitive.

I wouldn't invest more than you're willing to lose, and if you do go this route, I would try to pick cards that are good at a variety of algorithms (KAWPOW, MTP, Verthash, etc.) and which have the lowest ROI time, so that if ETH becomes unprofitable to mine with GPUs you can switch to something else. Here's a website that helps with that: https://www.kryptex.org/en/best-gpus-for-mining

I think 2080 TIs are probably a bad buy. They're too expensive and don't hash all that well. A 1080 TI gets close to the same hashrate and costs maybe half as much. A vega 56 hashes ETH slightly better than a 1080 TI but at 1/2 the power, but isn't as efficient at other algorithms and wouldn't have as good of resale value to gamers.

Anyway, do your own research. Run some calculations to see if your break even time is acceptable. Whattomine (https://whattomine.com/coins/151-et...ost=0.0&span_br=1h&span_d=24&commit=Calculate) can be helpful. Right now you're looking at needing about 850 MH/s (16-18 2080 TIs) to make $2k / month. Last week you needed about half that, but mining profitability just took a nosedive.

Finally, with the GPU situation being what it is, I would just go for anything you can get a good deal on that has a low ROI. This creates more headache in setup, but since you're working on a small scale you should be able to handle it. If you were installing 30,000 GPUs then every rig being different would be a nightmare, but for a small setup like this you can manage it. I would try to keep your CPU, Motherboard, RAM, and rig frames standardized and just mix & match GPUs as you find good prices.
 

Kardonxt

2[H]4U
Joined
Apr 13, 2009
Messages
3,461
Realistically you are too late. You can't get reasonably priced GPUs without bots, that you also can't get.

Paying scalping prices on cards is going to put you at nearly a year before you hit ROI. (assuming profitability doesn't decrees, which may tank when Ethereum moves to POS)

If you want to start as a hobby and sink some play money into it then great. Just keep an eye out for deals. If you are thinking more along the lines of dumping your life savings into it... then I would advise against it this late in the game.
 

Zeoclang

Weaksauce
Joined
Jul 11, 2004
Messages
107
Take a look at this chart to see how much the difficulty has increased just in the last few months.
https://etherscan.io/chart/difficulty
If you really want to mine more I would recommend you try to grab a 3060 Ti for MSRP. You could likely add it to your current setup without too much difficulty.
 

MrGuvernment

Fully [H]
Joined
Aug 3, 2004
Messages
20,055
Take that money and invest in some alt coins that are going to pump then cash out, rinse repeat and make 20k in a few months, then use that to do the same and turn that into 100k with in a year or less, then go from 100k to 1 million next year and screw mining.
 

Bigbacon

Fully [H]
Joined
Jul 12, 2007
Messages
18,763
Take that money and invest in some alt coins that are going to pump then cash out, rinse repeat and make 20k in a few months, then use that to do the same and turn that into 100k with in a year or less, then go from 100k to 1 million next year and screw mining.

tell us what Alt coins to invest in.
 

MrGuvernment

Fully [H]
Joined
Aug 3, 2004
Messages
20,055
You need to do your own research , learn to read charts and graphs and plot patterns, if you ask anyone "Hey what coins should I buy" you are going to get flooded with coins everyone thinks are the best and they love with out much reason behind it except some hype train twitter "twit" said so that can either be a rug pull or a complete joke that falls flat on it's face.

You of course have your main ones, but do you want pump and dumps, or you want long term HODL instead....

pump and dumps mean spending time watching and following to get in and out and measure risk, you will never guess the very top or the very bottom so you have to decide what your risk is to get in and out.

I could say jump into SOL and things around that right now as it has become very hot, but SOL has pumped but others on the platform are just starting, you could get into staking, get some ADA for long term as that will go up....

PanCake swap , CAKE..long term, BAKE just pumped today 100%.....

The list goes on and on of what you could buy into...but you have to decide in the end for your self

Crypto Lifer has recently got into a lot of the poop coins, He has made plenty from 10x -100x , 1000x pump coins..
https://www.youtube.com/channel/UC4c5FPpwCpb6q8J--i8QHtA

If you want to learn about TA and such
https://www.youtube.com/channel/UCnMku7J_UtwlcSfZlIuQ3Kw

Good insight and news
https://www.youtube.com/channel/UCZ3fejCy_P5xhv9QF-V6-YA

Grab this if you still can
https://gumroad.com/l/42lessons2021cryptoboom

From (day trader)
https://www.youtube.com/channel/UCwGflGmzevf4fcm-z8E-twA

Must watch HODL vs day trade
 

whoisthis

n00b
Joined
Apr 24, 2021
Messages
9
Keep a few things in mind:
1.) Current profits won't remain constant. Block size increases, network hashrate increases, etc. can all push mining profitability down over time. If prices continue to rise on the coins you're mining and you hold them speculatively you can offset that. (That's a big IF). ROI you see on any online calculator is probably based on relatively recent profitability. If this profitability gradually declines it means a longer ROI time than estimated.
2.) You're competing against the rest of the network. If your operating costs (primarily electric rates) are higher than everyone else you'll get priced out unless you have free electricity.
3.) ASICs are coming. They're already here, but until now haven't been all that great for mining ETH. Antminer now has the E9 that gets 3GH/s at 2556W or so. That's 1.17 MH / Watt. The most efficient GPUs are getting about 0.5 MH / Watt. This isn't nearly as bad as the Bitcoin ASIC situation was, but they're still 2-4x as efficient as the GPUs people are using to mine.
4.) Limiting yourself to 60dB is going to force you into using ATX power supplies which are more expensive and less power efficient than a server PSU. This makes you less competitive.

I wouldn't invest more than you're willing to lose, and if you do go this route, I would try to pick cards that are good at a variety of algorithms (KAWPOW, MTP, Verthash, etc.) and which have the lowest ROI time, so that if ETH becomes unprofitable to mine with GPUs you can switch to something else. Here's a website that helps with that: https://www.kryptex.org/en/best-gpus-for-mining

I think 2080 TIs are probably a bad buy. They're too expensive and don't hash all that well. A 1080 TI gets close to the same hashrate and costs maybe half as much. A vega 56 hashes ETH slightly better than a 1080 TI but at 1/2 the power, but isn't as efficient at other algorithms and wouldn't have as good of resale value to gamers.

Anyway, do your own research. Run some calculations to see if your break even time is acceptable. Whattomine (https://whattomine.com/coins/151-et...ost=0.0&span_br=1h&span_d=24&commit=Calculate) can be helpful. Right now you're looking at needing about 850 MH/s (16-18 2080 TIs) to make $2k / month. Last week you needed about half that, but mining profitability just took a nosedive.

Finally, with the GPU situation being what it is, I would just go for anything you can get a good deal on that has a low ROI. This creates more headache in setup, but since you're working on a small scale you should be able to handle it. If you were installing 30,000 GPUs then every rig being different would be a nightmare, but for a small setup like this you can manage it. I would try to keep your CPU, Motherboard, RAM, and rig frames standardized and just mix & match GPUs as you find good prices.

Thanks for in depth replies guys.
Andrew_Carr I do think it's a good idea to pick cards that are good at a variety of algorithms. i did go down the list of gpus from the link you provided. High end ones are impossible to find. GPU you mentioned is also out of stock. the "best" GPU that i think i can buy right now is

Sapphire PULSE Radeon RX 580 DirectX 8GB GDDR5 if i'm not buying on ebay.​

Hashrate seem quite low to me though. what do you think?

i think i can start out with 6-10 GPUs depending on the cost of the GPU. And add more GPUs if everything runs fine. And then build 2 more rigs so i can spread them out through out my apartment. If i do this then i think i can achieve somewhere close to 20K a year.
 

ANARCHY44

n00b
Joined
May 31, 2017
Messages
23
I build and sell mining rigs with RTX 3000 series cards. Have about 30 cards remaining at the moment, feel free to get in touch if you're a serious buyer. I only do in person transactions though, located in NJ.
 

Andrew_Carr

2[H]4U
Joined
Feb 26, 2005
Messages
2,050
i did go down the list of gpus from the link you provided. High end ones are impossible to find. GPU you mentioned is also out of stock. the "best" GPU that i think i can buy right now is

Sapphire PULSE Radeon RX 580 DirectX 8GB GDDR5 if i'm not buying on ebay.​

Hashrate seem quite low to me though. what do you think?

i think i can start out with 6-10 GPUs depending on the cost of the GPU. And add more GPUs if everything runs fine. And then build 2 more rigs so i can spread them out through out my apartment. If i do this then i think i can achieve somewhere close to 20K a year.

Why not buy 3070s? They're very power efficient at ETH and other algorithms and are more readily available than 3080s.
 

Andrew_Carr

2[H]4U
Joined
Feb 26, 2005
Messages
2,050

whoisthis

n00b
Joined
Apr 24, 2021
Messages
9
seriously? i don't know much about PCs but that cpu and MB look like they are 100 years old lol. I'm planning to run 6 GPUs by the way
 

whoisthis

n00b
Joined
Apr 24, 2021
Messages
9
i am gonna go ahead an purchase these as suggested.
Intel Xeon L5630 2.13GHz SLBVD 12MB LGA1366 Quad Core Processor MATCHING PAIR
Supermicro X8DTE Dual Socket 1366 E-ATX Motherboard DDR3 SATA2 w/ I/O Shield
Will these work with PSU like this? maybe they are called server PSU. idk https://www.parallelminer.com/product/hp-1200w-platinum-power-supply-110-240v-gpu-mining-psu/
all of those items with 6 3070 RTX.
Another question in, can i run Hive os on Supermicro X8DTE?
 
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