I posted in the PC gamers unite thread, but I got an RTX 3090 FTW3 Ultra by being on a waiting list on EVGA's website. It can supposedly do 122 MH/s which means at current Ethereum value it can generate over $12/day!
The *OFFICAIL* Jazzfanz Crypto Mining Thread
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So this has really been a pretty crazy journey so far for me. I only "tried" mining about a week and a half ago. Seeing the "free money" roll in has been a bit addicting. I've been consuming crypto mining info as fast as I can but there is a lot I don't know and every day I'm finding out things I thought I knew were wrong.
I want to caution anyone interested in doing this that there are risks. Not just that it might suddenly become unprofitable, but that you're involved in crypto currency, using software (that requires your security be disabled on it) and having accounts that are tied to a currency that is all about anonymity and evading detection.
I will continue to try to understand this better and at this point I'm kind of hooked. But I'm not an expert and nothing I say in this thread should be taken as undisputed fact. Please always understand what you're getting into and take risks with your eyes open and with an understanding of what is at stake.
I think there are big opportunities, but there are also opportunities to lose. I hope people follow this thread and participate in helping all of us understand this environment better.
I want to caution anyone interested in doing this that there are risks. Not just that it might suddenly become unprofitable, but that you're involved in crypto currency, using software (that requires your security be disabled on it) and having accounts that are tied to a currency that is all about anonymity and evading detection.
I will continue to try to understand this better and at this point I'm kind of hooked. But I'm not an expert and nothing I say in this thread should be taken as undisputed fact. Please always understand what you're getting into and take risks with your eyes open and with an understanding of what is at stake.
I think there are big opportunities, but there are also opportunities to lose. I hope people follow this thread and participate in helping all of us understand this environment better.
Okay so the above post aside, I'm in a bit of a whirlwind. Getting the opportunity to buy an RTX 3090 was completely unexpected and not something I would have done 2 weeks ago except to resale (this model goes for $3500, easy). But right now I see it as a money printer. Who in their right mind would sell a device that prints money? Yeah it might take a little while for it to pay for itself, but once it does...
I'm fortunate enough to have an RTX 3080, which for mining is a MUCH better all around card than the 3090. For efficiency and initial cost the RTX 3090 is a bad idea. But the market is sooo good right now, any hashrate you can generate is good. Power consumption is nothing compared to what you can earn. I was able to buy the 3090 at retail price while people are buying a $400 3060 Ti for $1200. So while I would have taken a second 3080 all day every day over a 3090, I'll take whatever hashrate production I can get. A little bonus is that my VR PC will have a RTX 3090 in it and I'm looking forward to the difference. I get nauseous in some games and from what I've learned frames per second has a lot to do with that. Well, I'll have the best possible experience with the RTX 3090.
Small note on why I will NOT be putting the RTX 3090 in my main PC. First, I have a custom water loop and have already spent money on a waterblock for my RTX 3080. I have also spent time and energy installing, re-installing and then improving my custom water loop. I don't want to start over so that I can get 5-10% improvement in games. Second, I want to see what VR is like in the best case scenario. Third, the VR PC is the least used PC in the house. It's downstairs in the cooler part of the house and I can run the miner on it uninterrupted for days at a time.
Smaller note. The RTX 3090 is a weird card. It doesn't make sense, really. They wanted to market it to gamers but it costs twice as much (MSRP) as the RTX 3080 while just barely outperforming it in real world gaming. It has more than twice the VRAM, yet that doesn't help much at all in games that don't even use all of the RTX 3080s VRAM. That VRAM is useful for productivity tasks and professional users but the RTX 3090 doesn't offer the certifications that professional targeted cards do. It pulls off the amazing feat of being a tweener, while also being the best of the best, but not by much.
I'm fortunate enough to have an RTX 3080, which for mining is a MUCH better all around card than the 3090. For efficiency and initial cost the RTX 3090 is a bad idea. But the market is sooo good right now, any hashrate you can generate is good. Power consumption is nothing compared to what you can earn. I was able to buy the 3090 at retail price while people are buying a $400 3060 Ti for $1200. So while I would have taken a second 3080 all day every day over a 3090, I'll take whatever hashrate production I can get. A little bonus is that my VR PC will have a RTX 3090 in it and I'm looking forward to the difference. I get nauseous in some games and from what I've learned frames per second has a lot to do with that. Well, I'll have the best possible experience with the RTX 3090.
Small note on why I will NOT be putting the RTX 3090 in my main PC. First, I have a custom water loop and have already spent money on a waterblock for my RTX 3080. I have also spent time and energy installing, re-installing and then improving my custom water loop. I don't want to start over so that I can get 5-10% improvement in games. Second, I want to see what VR is like in the best case scenario. Third, the VR PC is the least used PC in the house. It's downstairs in the cooler part of the house and I can run the miner on it uninterrupted for days at a time.
Smaller note. The RTX 3090 is a weird card. It doesn't make sense, really. They wanted to market it to gamers but it costs twice as much (MSRP) as the RTX 3080 while just barely outperforming it in real world gaming. It has more than twice the VRAM, yet that doesn't help much at all in games that don't even use all of the RTX 3080s VRAM. That VRAM is useful for productivity tasks and professional users but the RTX 3090 doesn't offer the certifications that professional targeted cards do. It pulls off the amazing feat of being a tweener, while also being the best of the best, but not by much.
Currently I'm projecting at least $800/month running: 1 RTX 3090, 1 RTX 3080, 1 RTX 2070 Super, 1 GTX 1070.
2 weeks in and I just cashed out for $220. Left a little in the wallet. I've increased my hashrate a lot in just the last 3 days, but I have to get my 1070 back in action. I gained 122 MH with the RTX 3090 but lost 21 MH because the GTX 1070 is not running. I'll get it back up and running using a very old Intel i-7 860 (first generation of what they are on generation 11 of now) on an ASUS P7P55 WS Supercomputer motherboard. The P7P55 will be my first fully focused mining rig system. I actually have two Intel i-7 860/P7P55 combos. Back when they were new I built twin gaming PCs for me and my daughter on them.
2 weeks in and I just cashed out for $220. Left a little in the wallet. I've increased my hashrate a lot in just the last 3 days, but I have to get my 1070 back in action. I gained 122 MH with the RTX 3090 but lost 21 MH because the GTX 1070 is not running. I'll get it back up and running using a very old Intel i-7 860 (first generation of what they are on generation 11 of now) on an ASUS P7P55 WS Supercomputer motherboard. The P7P55 will be my first fully focused mining rig system. I actually have two Intel i-7 860/P7P55 combos. Back when they were new I built twin gaming PCs for me and my daughter on them.
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LogGrad98
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This is what my SiL did, he took cards out that he was upgrading and put them in a dedicated mining rig. He's doing pretty well so far.
After 1 week of running this I'm at about $120 a month earning rate, which is much more than I expected. This is with it running about 22 hours a day. But about 6 hours of that running is with me using the computer for other things, which brings it way down during that time. this is probably about the ratio I'll continue unless I'm out of town. If it stays like this I'll almost for sure buy a second graphics card. $240 a month will pay it off in less than 3 months and be well worth the money. I plan to keep my money in ethereum and hope the worth goes up.
I'll plan to be back in the usa late summer assuming the borders reopen. I might look into bringing computer parts back.
One unexpected downside of mining is the heat it generates. It's not a big deal now but my apartment isn't big and in the summer I'll have to run the AC a lot more to make it feasible to be inside. Right now I am having to open the window a lot. Although there was a sandstorm yesterday and the few days before were awful pollution days so I kept it closed and it was warm inside.
I'll plan to be back in the usa late summer assuming the borders reopen. I might look into bringing computer parts back.
One unexpected downside of mining is the heat it generates. It's not a big deal now but my apartment isn't big and in the summer I'll have to run the AC a lot more to make it feasible to be inside. Right now I am having to open the window a lot. Although there was a sandstorm yesterday and the few days before were awful pollution days so I kept it closed and it was warm inside.
Yeah, it definitely generates a lot of heat. In winter it's "free" heat, as it is every bit as efficient as an electric heater, but in summer it's a good idea to isolate the PC as much as possible and push the heat outside your living space.
leftyjace
Well-Known Member
My struggle resulted in not exploring mining right now.
My kids are XBoxers, and the games I have on the PC that I like don't require a lot because they're not first person shooter games - more real time strategy games.
If I were to convert away from XBox for my kids gaming, I could see getting 2-3 good gaming computers with some GPUs in them, and run them when the kids aren't gaming/here, but... that'd be a significant investment.
Nevertheless, this thread is fun to watch. I'm learning a lot!
My kids are XBoxers, and the games I have on the PC that I like don't require a lot because they're not first person shooter games - more real time strategy games.
If I were to convert away from XBox for my kids gaming, I could see getting 2-3 good gaming computers with some GPUs in them, and run them when the kids aren't gaming/here, but... that'd be a significant investment.
Nevertheless, this thread is fun to watch. I'm learning a lot!
DasJazz
Well-Known Member
So this is just like an automated program that runs itself? Meaning, there is nothing I could do if I was home for a few days to just go hardcore and stay in front of the computer "mining" at my own pace?
Interested but just confused about the whole process as I've never dabbled in crypto.
Interested but just confused about the whole process as I've never dabbled in crypto.
Avery
Well-Known Member
Crypto mining is an investment - you don't need to spend time 'watching it' as it were, but you have to put up some cash for an actual rig that can try to deliver some value. Not only that, mining will raise your electric bill as the machines necessary to compete against other miners are energy hogs, can be quite loud, aren't cheap and there are many large entities out there also getting their share. It's also necessary to continually upgrade your equipment or you will fall behind as the days of using a cheap personal computer with minimal specs are long gone.
Think of crypto mining as the California Gold Rush - when there was hardly anyone there, it was easier to panhandle and find gold because there was no competition. Something as easy as a shovel could find you gold. As word spread and the hordes descended, competition to find land and resources became competitive and suddenly the opportunity was diminished because the word was out that there was gold up in that there hills. Methods to find gold became more practical and well-funded operations had the upper hand via manpower and machinery. The little guy stood no chance after a while.
Below is a good article explaining crypto at an elementary level:
How To Mine Cryptocurrency: Full Guide To Crypto Mining
Wondering how to mine cryptocurrency? Learn what is cryptocurrency mining & discover crypto mining options for maximum mining potential.
If I were to mine, I would actually focus on a lesser known crypto in hopes of less competition with the risk that it might not amount to much. Again, consider focusing your efforts on a new area where there could be gold vs. going where everyone else is mining.
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So the "new" Nvidia CMP 30HX is available for purchase. It's $723. That's not a good price for a 30 MH/s card that has zero resale value in the event that crypto mining on GPUs becomes unavailable.
At current rates, which will change dramatically in July (for the worse), that would take more than 7 months to recoup the cost of the card. Not a good idea. It would really have to cost around $200 to maybe a little over $300 to make any kind of sense as a mining only card. But there's more... Once these cards are not profitable for mining they aren't useful for anything. They become e-waste.
I will NOT be using CMPs for mining. I will try to find regular GPUs at MSRP. If I can't get it for MSRP then I'll pass. Simple as that.
At current rates, which will change dramatically in July (for the worse), that would take more than 7 months to recoup the cost of the card. Not a good idea. It would really have to cost around $200 to maybe a little over $300 to make any kind of sense as a mining only card. But there's more... Once these cards are not profitable for mining they aren't useful for anything. They become e-waste.
I will NOT be using CMPs for mining. I will try to find regular GPUs at MSRP. If I can't get it for MSRP then I'll pass. Simple as that.