RX 550 4GB version for mining?

[AaronWilliamV]

Will it work?

 

[10tacle]

Will it work? Yes. Will it make a profit for you? No. You need a lot more GPU hashing power which is why the RX 570s and 580s are sold out as are the GTX 1070s and a lot of the GTX 1060s as well. The GTX 1080s seem to not be affected being $500+ GPUs.

 

[AaronWilliamV]

Will it work? Yes. Will it make a profit for you? No. You need a lot more GPU hashing power which is why the RX 570s and 580s are sold out as are the GTX 1070s and a lot of the GTX 1060s as well. The GTX 1080s seem to not be affected being $500+ GPUs.

But what if I got 6 of them? I'm not planning on mining Bitcoin, I want to mine Ethereum and from what I heard you get around 10-14 Mh/s with them.

 

[10tacle]

But what if I got 6 of them? I'm not planning on mining Bitcoin, I want to mine Ethereum and from what I heard you get around 10-14 Mh/s with them.

It would be a severe money loser. Ethereum prices have stabilized. The time to get into it was six months ago and make money, not today. You are up against people who run 40+ GPU builds out of their homes and even rent small warehouses and put dozens of PCs in there. That's where the real money is made in cryptocurrency mining. Your best hope is to wait for the next great cryptocurrency and jump in early. Like everything else when "investing" in something, you are gambling.

 

[The Paladin]

ahh stop busting the kids dream to get rich quick... will it work.. sure, will you get rich?, do it for 6 months and let us know the profits from cost of electricity versus the amount of money you collected. live and learn

 

[tswmcello]

There's a pretty good profitability tool that nicehash makes specifically for seeing if your rig will be profitable, don't forget to account for your other system power requirements like CPU, fans, HD's etc: https://www.nicehash.com/?p=calc

According to the site at 10c per kilowatt and assuming your only using 70 watts (you will use more for powering your computer), you can make around 78c a day after electricity. You pump the wattage to a more realistic 150 Watts and your looking at about 43c a day profit, so yes, its likely profitable but you would need a few of them to make any amount of money quickly. Estimated ROI at 150 Watts is 204 days, 70 watts 146, so they will pay themselves off in the first year, assuming the 4GB continues to be enough memory to mine ethereum, if not if you use nicehash's miner it will switch to an easier coin and you may make less. That being said you'll either need powered riser to support the power, or a larger motherboard with 2-3 pcie slots, which all adds cost, however, since they'll all be running on 1 computer your losses from the computer standby electricity go down.

Yes, it will work, and yes it can be profitable.

 

[ruvalivan]

Making about 6.75/daily gross | $202.5US/30days with 10 RX550's
19 GPU motherboard, used extra hardware from old computers(harddrive, ram)

500watts at the wall no overclock(yet)

12kwh/day | 360kwh/30days at 10.63cents per kwh = $38.27US electricity costs

Using Nicehash, will switch between Cryptonight and Daggerhashimoto but mostly cryptonight

Gross-electricity costs=$164.23 monthly cashflow

ROI is great if you use 12GPU and up motherboard in my opinion

 

[lazerent]

But what if I got 6 of them? I'm not planning on mining Bitcoin, I want to mine Ethereum and from what I heard you get around 10-14 Mh/s with them.

It would be a severe money loser. Ethereum prices have stabilized. The time to get into it was six months ago and make money, not today. You are up against people who run 40+ GPU builds out of their homes and even rent small warehouses and put dozens of PCs in there. That's where the real money is made in cryptocurrency mining. Your best hope is to wait for the next great cryptocurrency and jump in early. Like everything else when "investing" in something, you are gambling.

this is horrible advice that hashrate can still be used to mine other coins, coins are coming and going and alot of the new coins are scrypt based meaning what he is telling you is not necessarily true, if you can get them at a discount and collect a coin that makes a jump you can make quite a bit, you are not guaranteed to, think of it like an educated lottery or playing the stock market. if he had mined ethereum when this was posted he would have made his money ten fold thanks to the hike, but no you gotta have an asic broooo...