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Author Topic: What GPU to buy and what is up with proffitability calculators  (Read 430 times)
Fl4v1u5
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November 08, 2018, 06:17:30 PM
 #1

Hello everyone!

I just got two quick questions.
I wanna buy GPUs for mining altcoins. Not a specific altcoin, though, I want it to change the altcoin it mines depending on it's proffitability.
I generally look at Bitmain's Antminers and from there use calculators to see which is the best to buy.
As soon as I enter the site, I see a few tabs such as SHA256 (which I know is an encryption algorythm, though I don't know exactly how it works), scrypt (which idk what it is), X11 (same as before) and CryptoNight (same as before) among others.
I guess each tab refers to a different algorythm each GPU is designed for. And then, those algorythms are compatible with some crypto currencies (SHA256 with BTC, Scrypt with LiteCoin among many others).

Now the problem begins when I use proffitability calculators. I'm using Antminer L3++ as example. 580 MH/s, 940W, and  the power cost were I want to mine (Denmark) is around .3 €/kWh but I want to be a bit pessimistic so that when I mine in real life I get a good surprise, so I use .33 USD/kWh.

When I use these data in coinwarz.com checking only the scrypt checkbox, I get -5USD proffitability per day for litecoin (after paying power).
When I use cryptocompare.com and the same data for litecoin, I get about 150USD proffit per day after paying electricity. For pool fees I use 1% as a standard value as I yet haven't chosen any pool, though I'm sure the pool I use has to have proffit switching.

Now the questions: Why do different calculators give different results? Are they even trustworthy?
And where can I find mining GPUs other than Antminers? And when I find a good one, how do I know if it is suitable for mining a coin or another?

Now for this kind of plan; switching between the most proffitable coins to mine, what GPUs do you recommend me to buy? I can spend up to around 10k € +/- 1k€

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November 08, 2018, 07:09:49 PM
Merited by dbshck (2), stomachgrowls (1)
 #2

Ok so firstly, Antminers are not GPUs! Antminers are ASICs - Application-Specific Integrated Circuit. You can only mine specific algorithm with ASIC (cannot switch between algorithms).

Now why Cryptocompare is showing you 150usd a day and Coinwarz is showing -5usd a day is an easy question to answer. You have to know the difference between the hashrates. Some web pages have the default hashrate as KH/s, some have MH/s and other have H/s. To get the right result you have to covert the hashrates correctly.
The -5 USD per day is sadly the right amount of money you are going to receive Cry.

Example:
1000 H/s = 1 KH/s
1000 KH/s = 1 MH/s

To be honest, I wouldn't spend a single penny right now to buy any mining equipment. Rather try your luck and buy coins/tokens instead Smiley

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November 08, 2018, 07:44:35 PM
 #3

If i m was you and have 10k spend on some mining equipment, i m definitely buy GPU-rigs; not new, but used.
Now some people selling their mining farms for really cheap.
But you need a trusted friend, who have already mining experience and can tell you which rig is good and which is not.


Also, if you decide go to asics, you should know - they VERY loud and it s no way using them at home; you will need place for them.

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November 08, 2018, 09:06:31 PM
Merited by dbshck (2)
 #4

Hello everyone!

I just got two quick questions.
I wanna buy GPUs for mining altcoins. Not a specific altcoin, though, I want it to change the altcoin it mines depending on it's proffitability.
I generally look at Bitmain's Antminers and from there use calculators to see which is the best to buy.
As soon as I enter the site, I see a few tabs such as SHA256 (which I know is an encryption algorythm, though I don't know exactly how it works), scrypt (which idk what it is), X11 (same as before) and CryptoNight (same as before) among others.
I guess each tab refers to a different algorythm each GPU is designed for. And then, those algorythms are compatible with some crypto currencies (SHA256 with BTC, Scrypt with LiteCoin among many others).

Now the problem begins when I use proffitability calculators. I'm using Antminer L3++ as example. 580 MH/s, 940W, and  the power cost were I want to mine (Denmark) is around .3 €/kWh but I want to be a bit pessimistic so that when I mine in real life I get a good surprise, so I use .33 USD/kWh.

When I use these data in coinwarz.com checking only the scrypt checkbox, I get -5USD proffitability per day for litecoin (after paying power).
When I use cryptocompare.com and the same data for litecoin, I get about 150USD proffit per day after paying electricity. For pool fees I use 1% as a standard value as I yet haven't chosen any pool, though I'm sure the pool I use has to have proffit switching.

Now the questions: Why do different calculators give different results? Are they even trustworthy?
And where can I find mining GPUs other than Antminers? And when I find a good one, how do I know if it is suitable for mining a coin or another?

Now for this kind of plan; switching between the most proffitable coins to mine, what GPUs do you recommend me to buy? I can spend up to around 10k € +/- 1k€



Do not invest any money that you are not able to lose.  My apologies for being rude but you clearly have a huge gap in understanding of how mining works.

As stated before. Most asic can't switch and almost all of them are not worth buying except if you are in batch 1 or 2. Asic manufacturers tend to sell of there used asic after they have mine back there development cost and need to clear their mining frarms of old outdated asics. Well This is my belief and makes perfectly goods sens.

asic like the antminers are noisy. really it is no joke you can't have them in a room in your house. Or close to your house for that matter.

you get multi-algorithm asic that can switch between different algorithms. Such as the Baikal giant x10 but there technically FPGA's. and then you get the full monty of FPGA's such as the bcu1525's.

GPU's are for gaming. yes we can use them for other things such as cracking passwords, calculating physics or even mining. But they aren't very good at it so there is a huge gap between pure asic that are a lot faster for a lot less power hungry. in between pure asics and gpus are FPGA's. they are flexible but not as fast as pure asics though.

IF you want to get in to mining get your self a 6 gpus rig and put it in your room. Then learn.


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November 08, 2018, 10:39:00 PM
 #5

Ok so firstly, Antminers are not GPUs! Antminers are ASICs - Application-Specific Integrated Circuit. You can only mine specific algorithm with ASIC (cannot switch between algorithms).

Now why Cryptocompare is showing you 150usd a day and Coinwarz is showing -5usd a day is an easy question to answer. You have to know the difference between the hashrates. Some web pages have the default hashrate as KH/s, some have MH/s and other have H/s. To get the right result you have to covert the hashrates correctly.
The -5 USD per day is sadly the right amount of money you are going to receive Cry.

Example:
1000 H/s = 1 KH/s
1000 KH/s = 1 MH/s

To be honest, I wouldn't spend a single penny right now to buy any mining equipment. Rather try your luck and buy coins/tokens instead Smiley
This really deserves a merit because the most precise reason why calculators showing off different profitability due to that thing where each of those do have default hash where if you dont know
how to calculate or just neglect those symbols it will definitely give out different results.

If i m was you and have 10k spend on some mining equipment, i m definitely buy GPU-rigs; not new, but used.
Now some people selling their mining farms for really cheap.
But you need a trusted friend, who have already mining experience and can tell you which rig is good and which is not.
Also, if you decide go to asics, you should know - they VERY loud and it s no way using them at home; you will need place for them.
I wont plan to buy out 2nd hand mining rigs specially been operating for 6 months onwards maybe on 2-3 months it will be still considerable but on the current
market condition (difficulty plus electricity cost into your place) mining wont really be a good idea.


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November 08, 2018, 10:59:43 PM
Merited by dbshck (2)
 #6

Additionally, it's important to realize that profitability calculators simply extrapolate information for one day and extend it to months or years in the future to calculate future profit, which is extremely unreliable as a number of factors including difficulty and coin price can influence how much you're going to make in the future. There are also multiple ways to configure miners, and most calculators that offer default settings set it to default for most ASICs and usually a mild overclock for GPUs. If you choose to mine with a GPU, make sure you have a good number for power consumption and average hashrate, and then plug in the rest of the numbers.

I assume you're in Europe looking for GPUs, so locations such as Amazon or a national electronics seller depending on where you live can be a good option to buy GPUs for a good price. The Computer Hardware section is also a good place to look at current card prices and for buying cards.

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November 09, 2018, 08:28:43 AM
 #7

Ok so firstly, Antminers are not GPUs! Antminers are ASICs - Application-Specific Integrated Circuit. You can only mine specific algorithm with ASIC (cannot switch between algorithms).

Now why Cryptocompare is showing you 150usd a day and Coinwarz is showing -5usd a day is an easy question to answer. You have to know the difference between the hashrates. Some web pages have the default hashrate as KH/s, some have MH/s and other have H/s. To get the right result you have to covert the hashrates correctly.
The -5 USD per day is sadly the right amount of money you are going to receive Cry.

Example:
1000 H/s = 1 KH/s
1000 KH/s = 1 MH/s

To be honest, I wouldn't spend a single penny right now to buy any mining equipment. Rather try your luck and buy coins/tokens instead Smiley
This really deserves a merit because the most precise reason why calculators showing off different profitability due to that thing where each of those do have default hash where if you dont know
how to calculate or just neglect those symbols it will definitely give out different results.

If i m was you and have 10k spend on some mining equipment, i m definitely buy GPU-rigs; not new, but used.
Now some people selling their mining farms for really cheap.
But you need a trusted friend, who have already mining experience and can tell you which rig is good and which is not.
Also, if you decide go to asics, you should know - they VERY loud and it s no way using them at home; you will need place for them.
I wont plan to buy out 2nd hand mining rigs specially been operating for 6 months onwards maybe on 2-3 months it will be still considerable but on the current
market condition (difficulty plus electricity cost into your place) mining wont really be a good idea.

On the current market condition, when people sell their rigs for cheap it s ideal moment to buy.

You say mining is almost non profitable now - but this is not true.
Just don t mine stable low-profit coins like Eth, Raven, Zec etc - they don t get your much money.

But if you spend you time and trying to find new coins and mine them - here you have chance to great profit.
Of course, much of this new coins is worthless, but if you find a good one (like 0xbitcoin, for example) - you get your ROI in 3-4 days.



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stomachgrowls
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November 09, 2018, 03:13:31 PM
 #8

Ok so firstly, Antminers are not GPUs! Antminers are ASICs - Application-Specific Integrated Circuit. You can only mine specific algorithm with ASIC (cannot switch between algorithms).

Now why Cryptocompare is showing you 150usd a day and Coinwarz is showing -5usd a day is an easy question to answer. You have to know the difference between the hashrates. Some web pages have the default hashrate as KH/s, some have MH/s and other have H/s. To get the right result you have to covert the hashrates correctly.
The -5 USD per day is sadly the right amount of money you are going to receive Cry.

Example:
1000 H/s = 1 KH/s
1000 KH/s = 1 MH/s

To be honest, I wouldn't spend a single penny right now to buy any mining equipment. Rather try your luck and buy coins/tokens instead Smiley
This really deserves a merit because the most precise reason why calculators showing off different profitability due to that thing where each of those do have default hash where if you dont know
how to calculate or just neglect those symbols it will definitely give out different results.

If i m was you and have 10k spend on some mining equipment, i m definitely buy GPU-rigs; not new, but used.
Now some people selling their mining farms for really cheap.
But you need a trusted friend, who have already mining experience and can tell you which rig is good and which is not.
Also, if you decide go to asics, you should know - they VERY loud and it s no way using them at home; you will need place for them.
I wont plan to buy out 2nd hand mining rigs specially been operating for 6 months onwards maybe on 2-3 months it will be still considerable but on the current
market condition (difficulty plus electricity cost into your place) mining wont really be a good idea.

On the current market condition, when people sell their rigs for cheap it s ideal moment to buy.

You say mining is almost non profitable now - but this is not true.
Just don t mine stable low-profit coins like Eth, Raven, Zec etc - they don t get your much money.

But if you spend you time and trying to find new coins and mine them - here you have chance to great profit.
Of course, much of this new coins is worthless, but if you find a good one (like 0xbitcoin, for example) - you get your ROI in 3-4 days.

If you are passionate towards mining and you do have the full time to search of those coins then you can really possibly get roi faster on the coin you can mine.
Finding wont really be that easy thats why most miners will just stick out into most common mined coin.They do only vary about profitability on electricity cost.
If you are on a situation which do have high energy cost then finding out profitable coins will be your target.


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November 10, 2018, 11:36:57 AM
 #9

Yeah, sure you need have a much time to search and constantly check all new coins, if you want get ROI back very quick.
It s not an easy, but way more profitable than regular stable mining (eth, raven, etc).

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November 12, 2018, 10:03:32 PM
 #10

With such electricity prices, the only way to get a profit from mining on video cards will be using water-cooled models and using their heat for boilers of indirect heating or space heating.

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November 12, 2018, 11:02:27 PM
 #11

There were different ideas posted and I have another different one too, hope you are welcome to consider this too.
Mining isn't as bad as others say. I like you don't want to choose only one coin, that's the basic of good strategy as for now. I wouldn't buy used GPUs if you can't check/test them yourself before you buy.
Best GPUs to buy for mining for me is gtx 1070ti/1080 and higher. They consume less energy and you have possibility to mine a lot of altcoins. Use whattomine.com or nicehash profitability calculator if you aim to mine and keep bitcoins.

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goldap
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November 13, 2018, 02:05:03 AM
Merited by European Central Bank (1)
 #12


now is not really a good time to buy GPUs brand new, if you can get them used at a good price then fair enough, but making a whole rig of 1070tis/1080tis is costly and wont make you much profit right now!


first things first GPUs for mining altcoins, like a few people mentioned GTX 1070 TI and GTX 1080 TI are pretty much the main dogs for mining altcoins, they can BOTH mine a variety of altcoins, not just 1 coin like most ASICS.

if you want to save power and mine with low watt usage, i recommend 1070TIs, if you dont mind using a little more power in exchange for bigger hashrate, then get 1080TIs.

forgive my rudeness but you dont seem to know much about GPU mining, so the easiest way to start off is to mine with NiceHash, it will automatically select the most profitable altcoins for you to mine and convert them into BTC.
but if you dont want BTC and want to REALLY have those specific altcoins, then you have to download the wallet for specific alt[Suspicious link removed]gle altcoin name + wallet)
follow the instructions.

when i was new to mining this website helped me ALOT : https://thebitcoin.pub/t/bitcoin-beginners-help-start-here-ultimate-guide/27
also reading these forums taught me so much too.

one very important aspect of mining you need to know, you are ALWAYS learning, and you have to read alot and take in alot of information, sometimes you will feel like you dont understand, but dont give up! keep reading and learning and you could understand alot.

if you want to calculate a specific alt[Suspicious link removed]gle altcoin name + profit calculator) whattomine tells you pretty much most of the current coins to mine with value.

as for why calculators giving different results, could be what the other guy mentioned, you using 2 diff hashrates, or entered power usage wrong, i cant think of anything else.

if you want to know WHERE to find mining GPUs check your  Ebay,Amazon,NewEgg or local computer stores either in real life or online via webstore and search for : PC > Components > graphics cards > Nvidia

(btw i mine with nvidia cards so i just use that as i have no knowledge of radeon RX cards >< )

hope this helps Smiley
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November 14, 2018, 08:18:22 PM
 #13

The calculators you use probably take into account the complexity of the network in different ways. More or less correct results shows Whattomine. If I were you, I would buy video cards like GTX1080Ti or good AMD RX590 (for example, from Sapphire), which will soon be on sale.

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November 15, 2018, 06:48:04 AM
 #14

Is GPU mining still worth it? considering the price of the hardware and electricity cost versus the market value of crypto?
jardine
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November 15, 2018, 09:48:01 AM
 #15

Is GPU mining still worth it? considering the price of the hardware and electricity cost versus the market value of crypto?

Worth it, but if you mine only newborn coins and spend much time on researching what to mine.
98% of newborn coin will die in 1 week/month period and will be cost 1 satoshi or zero.

But other 2% give your a good profit.

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November 15, 2018, 11:42:52 AM
 #16

Well that is a very generic and relative question and I think the best card to mine right now is the RX Vega 64 series by mining Monero latest V8 algorithm.

I think it is the card which offers the highest reward compared to all other cards in the market today for mining. Checking sites like whattomine which is a calculator but not accurate enough is something you and every one else should do before deciding.

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November 15, 2018, 03:32:34 PM
 #17

Nvidia cards usually consume less power, especially if you downvolt them with Nvidia inspector (650 mV per core for GTX cards).

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