I’m currently a student in university and I try to make some pocket money, I was wondering that is RX580 still profitable on mining?
Several factors to consider to determine profitability: what is your electric cost? The 580 8gb can be “profitable” at lower electricity rates. How will you be converting from crypto to fiat? A lot of people, myself included, fail to consider the cost of buying, selling, or converting crypto. Each exchange, pool, etc takes a small piece. Depending upon where you are and the KYC (know your customer) laws, taxes are a consideration as well. not trying to deter you, and if you are a student with free electricity, I would certainly say to get that GPU mining when not in use! Do a little bit of research on different coins that are GPU mineable, if you see something you like, mine and hodl. You can also use pools like miningpoolhub that allow you to mine a certain crypto, and convert it to the crypto of your choice. Profitablity calculators like whattomine.com can give you an idea of the current market, but I’d recommend mining something you believe in, hold on to it, and sell when/if it takes off. If you do hold onto coins, get a hardware wallet as well.
The short answer is, yes, probably. With an AMD RX 580 you should be able to mine Etherium or Etherium classic for profit, depending upon your electric rate.
There are a few things to consider. If you are living in a tiny dorm, having your computer hashing away 24/7 is going to produce heat and noise. You can fiddle with the settings to help address this, like setting the fan to be at a constant rate, but it’s still something to consider - especially if you are sharing a room. If it’s a single RX 580, it probably won’t be too bad, andyou can always turn it off if it gets annoying.