Cheap gpu for mining

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mankeman

Commendable
Jan 14, 2018
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Hello guys,
So a couple of days ago I started mining with some spare pc's I have. I think its really fun to set it and stuff, Im also making around 35-40USD a month.
Now I want to build a real mining rig since the pc's Im using are running really hot.. (around 90celcius)
Since the rx580 and gtx 1060 are overpriced (over 300 euro where I live) I dont know what to buy.
Which gpu is good to mine with?
My budget is 150-200 euro. Also I saw a r7 280x for 100 euro, is that worth buying?
Sorry if I made any grammatical mistakes.
Thanks
EDIT: I do not pay for electricity
 
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mankeman

Commendable
Jan 14, 2018
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1,510

Thanks for the answer! I only forgot to tell that I'm not paying for electricity.
 
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Rogue Leader

Rogue Leader

It's a trap!
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Dec 22, 2014
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I would rethink your plan then.

If you start running serious GPUs even a 1050ti its going to cost a noticeable bump in your parents electricity costs, in fact even right now you are likely costing them more than your mining rig is making.

If I was your parent I would then be wondering what the heck is causing the bump in my electricity bill and either shut you down or make you pay for it.
 
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USAFRet

USAFRet

Titan
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Mar 16, 2013
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Well (putting on my 'dad' hat)...if your PC is 'earning' $1.25 a day, running 24/7 in this mining enterprise, but using my electricity...you need to contribute to the house electric bill.
To the tune of $1.50/day.
 
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richiestang_78

richiestang_78

Glorious
Mar 3, 2015
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Sadly making money off mining train has left the station and is in the next country now, the way people are making money is by joining groups of miners and working together because otherwise you are a small fish in a ocean of sharks. Even serious solo rigs (6 or more high end cards) turn relatively small profits that are offset by electricity and potentially maintenance costs.

You also wont get alot of love form the gaming community as miners are royally messing up the GPU price market.
 
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mankeman

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Jan 14, 2018
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I already told my parents I'm mining and that the electricity cost is getting higher because of that ( not that they noticed any changes in costs ) But to my suprise they are fine with it.
 
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mankeman

Commendable
Jan 14, 2018
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I dont really get what you are saying. Do you mean mining pools or a bunch of friends who invest in a couple of mining rigs and share electricity cost? I also know that gamers really do not like miners, I wanted to get a new gpu a couple of months ago but stopped looking when I saw the gtx1060/rx580 prices
 
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WyomingKnott

WyomingKnott

Legenda in Aeternum
Aug 29, 2006
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The rate at which Bitcoins are being issued is going down be design; the total number that will ever be issued is 21 million. To quote from Wikipedia, "he bitcoin protocol specifies that the reward for adding a block will be halved every 210,000 blocks (approximately every four years). Eventually, the reward will decrease to zero, and the limit of 21 million bitcoins will be reached c. 2140."

I have read, but cannot quote the source, that the odds of a single specific machine mining a block in one month are about 8 million to one - I may be way off base here. This is why people join pools. A pool increases the chance of hitting on a block, but dilutes how much you will get from that block.

IMHO - if you want to mine for fun, mine. If you want to make money with it, forget it. For individuals, it's become a form of gambling with a very low chance of payoff.
 
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Rogue Leader

Rogue Leader

It's a trap!
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Dec 22, 2014
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Surprising. If you start getting more and better GPUs they may notice it quite a bit more. the truth is you may make yourself some pocket money but they are spending more than you're making. You may as well just have them give you the cash and cut out the computer equipment.
 
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W

wxxyz

Prominent
Jan 24, 2018
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Sorry, but some of these responses are just wrong.

Don't worry about it being difficult to 'find' a coin when mining, that's what mining pools are for. You group together with a bunch of little fish and that turns you into a big fish, and you share the profits.

As for what GPUs are profitable, they all can be. Right now the cheapest, easiest to find NVidia GPU is the GTX 1050, and it can still make you $1.25 or so per day, and costs about $125. That's 100 days to pay it off, or if prices keep going down, let's double that to 200 days to be safe (or to account for the cost of the other parts oyu need to build your mining rig). Here is some info on the 1050: http://miningcharts.com/questions-and-answers/gtx-1050-hashrate/

Is it still viable? Worthwhile? Depends if you think cryptos will crash in the next 200 days or not. If you think they're here to stay, then who cares if the price backs off a bit. Plus, earning back your GPU investment that quickly is impossible to beat in other markets. ie. Open a restaurant, and see how long it takes you to make back the $50,000 it cost you to start.
 
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The Original Ralph

The Original Ralph

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Sep 14, 2011
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you guys may be too close to the trees and not seeing the forest. His parents are fine with the electricity consumption, so they probably have the budget, plus they see two things, 1) they're son is on the way to becoming an entrepreneur 2) at least he's got something to occupy him besides drugs

one of my clients / friends, a self made multi-millionaire whose daughter wanted to walk in his footsteps, he let her start an enterprise she'd come up with on her own - she was going to raise rabbits and sell them to pet shops, so he built some cages for her and bought her some rabbits to get the rabbit farm started. He gave her zero advice, just drove her to pet shops and let her go in to see if she could arrange a supply relationship. When after a few months, they were over run with rabbits, and few sales, he sat her down and asked her what she thought she'd done wrong- after listening to her self-evaluation he then told her what she had actually done wrong. That was when she was 12 years old. Today she's in her early 30s and owns 4 shopping centers, not tiny little strip malls, but major retail space.

mankeman - go for it and enjoy the hell out of it
 
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USAFRet

USAFRet

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Mar 16, 2013
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Right.
If he's already talked it out with the parents, no problem.

But all we say initially was "I do not pay for electricity"
Well...someone does.
 
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not you

not you

Distinguished
May 14, 2015
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The Original Ralph - Amazing answer man ;)

I would say the 280x is too power hungry for mining seriously (I mean using 6 of em)
but to try it? sure!

As I read you have been looking around for 1060/580s so you also game correct?
In this case buy the computer and GPU like you would buy it for gaming

A 1050 ti would be your best bet if its price is reasonable
If you buy it for gaming also than the price is justified you don't really need to make your money back

Also are people here seriously worried here about a single 1050 ti's power consumption?
I used a 1080 ti for mining to test the waters
I won't mine since I can't game while mining but I didn't even notice a bump in my power bill I doubt any single card out there would do more than 15-16$ increase in your parents power bill

I bet they don't give a damn my karate classes cost far more and my parents didn't care and I didn't even make any money back with that xP
 
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