Cryptocurrency mining - The worst time to jump on the train (June/ July 2017)
Whats the stoooory cryptominds?
I wrote an article yesterday about picking the right GPU for mining in June/ July, you can read it here:
https://steemit.com/cryptocurrency/@kazen/cryptocurrency-mining-part-2-amd-vs-nvidia-june-july-2017-what-gpu-to-buy-or-its-better-to-wait-for-vega
I would like to follow-up and share with you, that June/ July is the worst time to buy any mining equipment during the whole "mining peak".
The reasons why are:
GPUs are globaly sold out and the current prices for anything available is increasing, instead dropping as it should be. Therefore, you are paying already more for the same hashing power
If have pre-order any RX card and you dont mind to have them delivered in 1-2 months, you might be very dissapointed. AMD cards' performance is degrading with every increase of the DAG file and the MH/s you are expecting will be lower before your card will be delivered
Vega is just around the corner. That mean, that even a very decent GTX 1070s (which I would recommend to buy) are currently holding a very high price (if you can buy them nuder €400 - go for it). With Vega release, which should be just about in one month, the prices has to go down, or you will get an option to buy a Vega card which migt offer a decent MH/s improvement for same/lower price.
What do you think guys?
Yes, im seeing the same results. Its clearly an overplayed market..
i also think its just a matter of time till its non profitable anymore specially with high electricity costs .... but im still in since 3 Weeks (1070s here :)) i dont really get the AMD hype here .... Nvidia is with higher energy costs still better there was just a little lower ROI in days on AMD .... (Zcash is even more profitable, but ETH is better longterm ... hmm..)
yes.. but you were able to buy 2x 470 for the price of 1x 1070 (€400). With 2x RX 470 you are getting 54MH/s and with 1x 1070 30MH/s.
But it doesnt make sense to keep buying overprices RX even the GTX cards at this time I believe. Vega should drop the prices a bit and we will also see, how the hashing power would increase and therefore decrease the overal profitability.
I'm not saying it wont be profitable, it still will be, but I'm thinking to buy the equipment cheapest as possible with the mosth hashing power and with the longest lifespan. Even I would like to buy 1070s and there are some around €430, I will still wait for Vega to be out. The attention will move from GTX and they should drop on price.
im not sure myself which is now better but i bet the 470s will fall hard in price ..... too much downsides for me on AMD.... more Wattage (u need a "better" PSU), runs hotter, probably less worth if u try to sell it in %, less efficient per card so u need more systems but the future will tell us :)
i also thought its better to wait till vega while i bought the 1070s but 2 months is "nearly" the ROI time so ... :)
i think the profitablity is just "too high" right now ... more people getting into till its not worth it or nearly not worth it anymore so just the ones with low electricity can survive but maybe the coin prices are going more up but im not sure with this tho
yup, agree... however, this article is more for ppl considering to buy some GPUs for mining now... we should count in the order, shipping, etc. and Vega will be out end of July. This should already project on the current 10xx series prices. If the price will drop by €50 and you can get more powerfull card for less, you might end up in better profit considering for example 6months window. The ROI on 1070 is still very nice - no doubt about that :) I'm more talking about what is a better investment - now 1070 for €430, or wait one month and get it cheaper, or get a better performing GPU.
yes now considering u need to search parts wait till they are shipped and setup the hole thing its probably better to wait for vega now but maybe u are right and the cheapper 1070 are a good deal then too because vega is probably way "overpriced" at the beginning ( specially if it ends up like now with 570/580 rx :) )
Hi, thank you for sharing, I am following you ^^
thanks! re-follow!