GPU Mining

J

JMP

Adept
Guys,
I have a RTX 3070 and a Ti gathering dust, thought of playing AOE / CnC with old buddies or find some new RTS, but those days are over I suppose, everybody is reproducing and nobody has time.
Contemplating if i should just sell them or use them for mining. Although I keep reading about crypto, haven't got a clue on GPU mining.
ETH-1559 is on the on the anvil and is expected to go live in the next few months.
So, is it worth getting into mining now if one already has GPUs? Does anybody have experience with it here?
 
If you're looking to supplement your income, you could give mining a try. The super simple way is to signup with Nicehash, download their miner, send BTC payments to Paxful, sell over UPI with trusted sellers.

Otherwise, you may be better off selling the cards and finding a hobby/pasttime where you can get your share of social interaction that you're missing with RTS games. I'd recommend morning excercise either in a group or solo at your nearest park. Or you could keep the cards and still do the exercise thing.
 
The amount you will make mining with those two cards until ETH PoS will be less than what you can sell them for in the current market. Choice is yours.
 
rsaeon said:
If you're looking to supplement your income, you could give mining a try. The super simple way is to signup with Nicehash, download their miner, send BTC payments to Paxful, sell over UPI with trusted sellers.

Otherwise, you may be better off selling the cards and finding a hobby/pasttime where you can get your share of social interaction that you're missing with RTS games. I'd recommend morning excercise either in a group or solo at your nearest park. Or you could keep the cards and still do the exercise thing.
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Thanks, I was hoping you would respond, since you had experience with Chia etc.
Exercise thing is already work in progress, joined a running group and am working on it.

My concern is that I don't want to lose money, at present I still sell them at a decent price, but if I employ them in mining and POW dies in the next 2-3 months it would be a pointless loss. If the cards can recover their cost, I don't care if they produce positive returns in future.

Can NiceHash be used on a computer that I use for other activities like banking / documents transactions? Or will I have to wipe the machine and dedicate it only for mining?
enthusiast29 said:
The amount you will make mining with those two cards until ETH PoS will be less than what you can sell them for in the current market. Choice is yours.
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Will POW and GPU mining end with ETH PoS?
 
JMP said:
Will POW and GPU mining end with ETH PoS?
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Obviously not there are other shitcoins to mine like RVN and ERGO but both have not enough market cap to sustain the switchover of ETH miners. Profits will become barely over electricity costs and things will slowly return to normal. This is highly probable.
Point is after PoS ETH will be unmineable on GPUs as the difficulty would be huge just like bitcoin now. People with ASICs would still be able to mine, though not ETH 2.0.
 
JMP said:
My concern is that I don't want to lose money, at present I still sell them at a decent price, but if I employ them in mining and POW dies in the next 2-3 months it would be a pointless loss. If the cards can recover their cost, I don't care if they produce positive returns in future.
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At current prices, you could probably earn ~15k a month after electricity costs with both cards, assuming they're LHR. I'd only suggest mining if you want to keep the cards long term, because as @enthusiast29 said, ROI is probably not going to happen before POS arrives.

JMP said:
Can NiceHash be used on a computer that I use for other activities like banking / documents transactions? Or will I have to wipe the machine and dedicate it only for mining?
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It's always best to have it on a different machine, mining clients can attract malicious attacks. The simplest way would be to buy a hard disk or ssd and install windows on it for mining and boot into that whenever you're not using your desktop for yourself. You should physically disconnect your main drives when before you boot with the mining drive. Back when I used to mine (2013), I would have a hot swap bay device where I'd power off, take out my main system drive, and put in the mining drive, and then power on whenever I was going out or going to sleep and wouldn't need to use the computer for a few hours.

JMP said:
My concern is that I don't want to lose money, at present I still sell them at a decent price, but if I employ them in mining and POW dies in the next 2-3 months it would be a pointless loss.
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The really nice thing about gaming is that it's not difficult to find new people to game with. The highlight of my RTS days was with the original Command & Conquer (I love the entire series) and I'm discovering that there's discord servers where you could play those old games against others. Also, babies eventually grow up, other relatives step in to help, grand parents insist on spending time with them, and eventually time frees up for new parents to indulge a little here and there for gaming.
 
I'm glad you started this thread. I recently acquired a gently used 2080Ti FE off r/hardwareswap in the States and wanted to test the BTC mining waters, predominantly for some beer money which I'd like to balance out with the health of my GPU. Is this a balance I can realistically maintain with near 24/7 operation (given optimizations made to the GPU for mining)? I've tried very hard to not get sucked into the crypto hype, but the long-term prospects seem somewhat better (at least to a layman) and I'd like to dabble. Would direct investment in crypto be a sounder bet?

Thank you for reading, I'd love to hear your input.
 
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