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Is mining on a single RX580 worth it?

Posted: Thu Dec 27, 2018 10:24 am
by KnightRid
Was thinking about trying just for the hell of it since my computer is not getting a whole lot of use because of taking care of my father in law but I was reading it would get a bit above a dollar a day profit.... Seems awful low. Figure if I can make enough to buy another card then I can have 2 cards running and start the snowball effect as long as whatever everyone thinks I should mine (if it is even worth it) will continue to be profitable.

Thoughts?

Ethereum the one to mine? (geth and cgminer I have been reading about - I would have thought there would be a simple way to just run one program and BAM its doing its thing)

Nate are you still turning a profit?

Oh and I have read that cpu mining is a joke, is this still true? People say it costs more to run than you make.

Re: Is mining on a single RX580 worth it?

Posted: Fri Dec 28, 2018 3:22 pm
by Velo:Sity
It will be difficult to make a profit unless you have free electricity.

Re: Is mining on a single RX580 worth it?

Posted: Fri Dec 28, 2018 3:30 pm
by Apoptosis
https://whattomine.com/ is your friend.

A Radeon RX 580 will make you about $0.11 per day after paying $0.30 per day in electric. When I mined a 580 was getting close to $5 per day. I shut everything down over a year ago. Investing by buying the coins is the best bet now and where the money is at. It's not for the faint of heart though.

I just had a friend buy 1,000 ETH a couple weeks back at $80 something and now it's $140. He's up like 70% in just two weeks and he's ecstatic as he is up over $50,000 and last I talked to him he was selling it and buying a new truck once all the sales clear and he changes it into fiat.

I also know a few guys that lost almost EVERYTHING by investing when ETH was close to $1000, they were happy when it went to $1400 and then held it all the way down to sub $150.

Re: Is mining on a single RX580 worth it?

Posted: Sat Dec 29, 2018 1:16 pm
by KnightRid
Wow. Wonder why people still do it, unless they have super amounts of solar power.

Re: Is mining on a single RX580 worth it?

Posted: Mon Dec 31, 2018 2:32 pm
by Apoptosis
I don't know anyone still mining that doesn't have free power.

Re: Is mining on a single RX580 worth it?

Posted: Sun Jan 06, 2019 4:41 pm
by sbohdan
I realy hope that this whole mining bull**** goes down the drain as soon as possible. It should of never existed. Multiple GPU prices for the last few years now + humongous waste of electric power. It's disgusting. :vom:

Re: Is mining on a single RX580 worth it?

Posted: Tue Feb 12, 2019 11:52 am
by william
Mahoni wrote:
Tue Jan 15, 2019 10:03 am
Mining as a private person was only worth it in the beginning. I can't imagine that you can still earn money with it today, after deducting electricity costs.
Rightly said as people have grown mining farm and going with just one card will earn you money, I highly doubt it.

Re: Is mining on a single RX580 worth it?

Posted: Mon Mar 18, 2019 12:42 am
by Dora20
In today's time no one can think of mining ,unless and until one have abundant amount of solar power.How r u still earning through it.