Thinking about mining with GPUs

I've come across some sites that give estimates on how much profit I can make from mining based on my GPU specs, but can I really trust that info? The BTC price is super volatile, so it can't be spot-on every time, right? Plus, I know the mined bitcoins won’t always have the same value down the line. Also, I'd like to get some advice on which graphics cards are the best for mining. Importing GPUs can be a pain because of the massive fees. They slap on the import fees and customs charges, which really adds up. I'm also thinking about getting some AC units for the room to keep things chill and clean (but that's for later). What should I focus on if I seriously want to get into mining long-term? I’m not planning to sell my coins for about ten years after mining.

You want to mine bitcoin with Graphics card? That is not possible if you are expecting profit. If you want to mind bitcoin profitably, it is better you get yourself a good ASICs instead of GPU. We are no more in the days of GPU bitcoin mining.

Where I live I haven’t checked the cost of ASICs but i strongly believe there’s custom import fees on that too, Antminer S21 last time I checked was for 13k usd post import fees.

Maybe OP has graphics cards on ground right now? OP if I am right you can use Nicehash and mine alternative coins and get paid in BTC, I am sure that this mining strategy still works via Nicehash.

Yes I have GPU it isn’t profitable to mine with it, just checked NiceHash for a few GPUs I don’t think it’ll be feasible for gpus to mine bitcoins? I also remember reading something about nvidia nerfing GPUs for crypto mining in past (There should be articles still on that). Like Charles-Tim said gpu mining days are gone. It’s before or after the nerf not quite sure.

@OP ref the sticky https://bitcointalk.org/index.php?topic=2415854.0  mainly point-3 Even a now 'ancient' 1st gen USB stickminer from Sidehack gives nearly 20GHs while drawing only 10w. Current cutting edge GPU's give only a few hundred MHs while pulling hundreds of watts. A good history of BTC mining hardware from FPGA's on up is here

There’s a usb miner from i found on amazon which costs 300 usd for 1.2TH/sec with power supply of 18w/Th it’s from bitmain “ Gamma 601 Bitcoin Miner, 1.2TH/s Hashrate, BM1370 ” There’s a sale on a website that ships an antminer with 120TH/sec for around 1300usd, they ship and setup too. Idk how it will extract power supply from usb of laptop 90w charger. Imagine getting 10 of these usb miner setup on the laptop, you can expect laptop crash immediately, can be damaged too unless there’s usb power limit in laptops. Not saying I will do it on the laptop though. That 20GB/sec usb miner you mentioned shouldn’t be around now.

If you are specifically thinking of GPUs then you are going to focus mostly on altcoins but even the after the end of Ethereum's Proof of work, mining alts using GPUs has never been the same again. There is barely any profit, and your electricity tariffs have to really be so low if you are to even have a chance. Mining can be a hobby or fun for someone who loves to contribute to the network, but there are no guaranteed profits short term as the hash rate keeps changing. If you are in this as a form of long term investment. Just buying Bitcoin or some good altcoins and keeping them for years before selling is equally good, especially when you get it during the bear market.

Yes i know, but i expect bitcoin price to be 300k usd plus in a decade or so, my electricity costs are 0.1/usd i have solar too, land too to have rig to be installed but yes I’ll need to invest to sustain for short term a lot. Not to mention there’s cost too if gpu stops working or malfunctions.

It's still to be found on ebay etc usually at outrageous pricing because they are "Collector Items". That 1.2THs miner you found is NOT from Bitmain - it is a BitAxe that uses BM's chips like those from Sidehack do. Do checkout Sidehacks latest small miners here. All are low power draw. His current top-end stickminer is the A2 giving up to 1THs for $125-135 Do be aware that ALL usb stickminers REQUIRE a high power hub that can supply at least 3A per-port. Yes, Sidehack sells those too.

Not sure why Nvidia doesn’t sell it’s own laptops or gaming pcs 🥲 Ref: https://www.gekkoscience.com/product/kbox/ Kbox Fully standalone miner, 350W integrated PSU Up to 16TH Quiet integrated fans Integrated Linux controller with wifi and ethernet Easy web configuration Onboard telemetry adjusts voltage, monitors fan speed and power use Connects to home automation software, can be used as room heater 🧐

So, when you add up all the costs - hardware, power, maybe something breaks - wouldnt it just make more sense to buy Bitcoin straight up? If its going to hit $300k+, just holding seems like the way to go.  Couldnt you just buy and hold instead?  And you can also use the funds you would spend for electricity for DCA investments.

Yes I also plan to open some services here in future, lending, managing campaigns, I have some experience in trading too but holding seems to be a good option if you can have the hardware to mine too them it’s great you can cover the cost of hardware in a year or so of mining if done correctly (taking asics into consideration gpu mining is out question), I have also planned a few other services too but yes I am taking things slowly at the time. Electricity isn’t costly where I live there’s subsidies on electricity and solar panels but not on mining hardware, I have another place where I’ll setup mining rig If I decide to give it a go.

Thank you for the link but it’s not in english and I don’t understand what language it is or what’s written there. Moving forward, yes I plan on mining with asics in future, Gpu mining is out of question (not for short term profit; there are other ways I will try to make money in short by providing some value to certain services) mining has to be done with (‘’forgot the word’’) english not my native language too. The word JeromeTash mentioned fun or hobby that what i meant, he’s right there, the benefit i have are of electricity subsidies on solar panels and electricity on itself too.

I advise all beginners to learn how to use the calculator. The calculator shows your current profit. https://bitcointalk.org/index.php?topic=5481629 I would start with https://hashrate.no/ There are services that can mine the profitable coin itself and pay out rewards in Bitcoin, stablecoins, and so on. https://bitcointalk.org/index.php?topic=5457533

Thank you for the info, I’ll need to translate that into english, I don’t understand Russian and Safari browser on my phone isn’t showing any way to translate the thread, I’ll bookmark it. Somehow safari just showed me to enable translation (it worked I can read) thank you.

Great, if you have any problems, you can paste the text into Google Translate. These threads mostly contain useful links collected by miners in the Russian community. You can find information about these resources in your native language.

I will go with unMinable to mine, already downloaded their app on iphone, they have clear fees and structure of payment, I don’t feel there are many strings attached to them no kyc too.

These apps have a very flexible payment system with low fees because they can pay in altcoins and stablecoins. I'm curious, what hardware are you planning to use to mine the coins?

Is there a specific reason why you chose them? There seem to be many options from the threads. Their app is basically a monitoring tool if I read it correctly, so you'll still have to set up your rigs to properly mine on their pools. Is asking for KYC common for mining pools nowadays, btw?