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Title: GPU Mining Rigs - Is it too late to start?... Post by: DarrenJC on September 22, 2017, 05:37:27 AM Been hobby mining on NiceHash using a single Gtx 1070.... im very tempted to step it up a gear a build a small gpu rig, 3 or 4 cards to start but im not sure, have I missed the good times?
Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: bobo012 on September 22, 2017, 05:48:55 AM It goes in cycles, right now profits are not as high, but still you have profit.
If you have too expensive electricity then i would not go into mining. I hope trend will overturn and mining profits will be bigger in the future Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: DarrenJC on September 22, 2017, 05:54:00 AM It goes in cycles, right now profits are not as high, but still you have profit. If you have too expensive electricity then i would not go into mining. I hope trend will overturn and mining profits will be bigger in the future $0.21 is my electric price per kilowatt £0.16p in my money (ish) Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: crocozino on September 22, 2017, 06:06:02 AM $0.21 is my electric price per kilowatt £0.16p in my money (ish) it depends on which prices you will receive your cards, for example you can buy new @ high price or you can buy used with warranty and discounts so the less you pay for you hardware , faster you go even and start to receive profits but my opinion is simple, forget nicehash, in order to receive 25-50% more income from mining you have to lurk for profits yourself that means find good coin, mine it, and sell it on pumps! with nicehash that is not possible Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: Tmdz on September 22, 2017, 06:13:25 AM That price is double the average electricity rate out here.
I would not dive very deep into mining, as winter gets closer mining will get less profitable. Like the other said it goes in cycles and we have been in the down trend since ~june. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: ask on September 22, 2017, 08:40:31 AM Mining profits dropping day by day. So you need to think twice before jumping in.
For GPU mining after ETH turn to POS we need some profitable coins to mine. That means we need POW coins with a good dev team and good community support. My decision investing in GPU mining is not profitable for now. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: Katimand on September 22, 2017, 08:48:12 AM It goes in cycles, right now profits are not as high, but still you have profit. If you have too expensive electricity then i would not go into mining. I hope trend will overturn and mining profits will be bigger in the future that is right. If your electricity price is less than $0.1/Kwh, you will make money most of the time. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: kilobytez on September 22, 2017, 08:50:24 AM nope, not too late to start, you can chip in some for mining equihash algorithm coins
I only mine the following (mostly) :- zencash zcash hush komodo other coins mined for fun decred eth sia chaincoin try www.whattomine.com and calculate your profit. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: Greeny on September 22, 2017, 10:52:26 AM Im in the same boat, got 2x1070, 1x1050ti running and would really like to expand...
But in my opinion its very risky at the moment as GPU prices are still super high but coins are low and falling. There are too many people jumping the hypetrain without doing the math so the GPU prices will stay up and difficulty keeps rising. Im at 0,15$/kWh so i think i will not upgrade my system as ROI for 1070 here is above 1 year...ffs i believe Ethereum PoS will be sooner than all the ppl who buy 1070s now ROI...and thats going to change the mining world. Running after the hype is never good. Good moments to buy hardware are in my opinion when the coin value is high or when there is a new coin that has something real to offer and is worth mining early and hodl, but all I see is ICO scam and worthless copypaste coins that wouldnt earn a dime without hype. So i will wait another 1 or 2 months and reevaluate the situation Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: DarrenJC on September 22, 2017, 10:58:30 AM Im in the same boat, got 2x1070, 1x1050ti running and would really like to expand... But in my opinion its very risky at the moment as GPU prices are still super high but coins are low and falling. There are too many people jumping the hypetrain without doing the math so the GPU prices will stay up and difficulty keeps rising. Im at 0,15$/kWh so i think i will not upgrade my system as ROI for 1070 here is above 1 year...ffs i believe Ethereum PoS will be sooner than all the ppl who buy 1070s now ROI...and thats going to change the mining world. Running after the hype is never good. Good moments to buy hardware are in my opinion when the coin value is high or when there is a new coin that has something real to offer and is worth mining early and hodl, but all I see is ICO scam and worthless copypaste coins that wouldnt earn a dime without hype. So i will wait another 1 or 2 months and reevaluate the situation I see it said alot, whats ico scam? Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: xPPx on September 22, 2017, 12:23:35 PM Initial Coin Offering scam.
Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: Metroid on September 22, 2017, 12:41:56 PM There are tokens everywhere and they are all a huge scam just like usd, so stay away from it.
As I always say, mining is for losers, right now to get your money back is around 2 years. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: JuanHungLo on September 22, 2017, 01:02:35 PM If you mine a coin and hold it, and it appreciates over time, mining can be very profitable. If you were mining Litecoin when it was below $4, never sold, sold it when it was about $80, you did very well. This is the approach I take while mining Monero. I've never sold any of it.
Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: Metroid on September 22, 2017, 01:15:04 PM If you mine a coin and hold it, and it appreciates over time, mining can be very profitable. If you were mining Litecoin when it was below $4, never sold, sold it when it was about $80, you did very well. This is the approach I take while mining Monero. I've never sold any of it. You need to understand that part of the coins you mine you will have to sell to pay the bills, for example electricity. So it means, the moment you sell to pay the electricity and other bills you are already losing, reason why mining is a waste. Mining is never profitable, mining craze which was 3 months ago was also never profitable at all cause the dfficult and farmers tend to overgrow theirs farms which means, common people never see this profit, people paid $700 for a rx 470 3 months ago and will never get that money back. Many of them because of their stupidity still think they are earning $5 dollars a day ehhe and they think that $5 usd is forever and ever hehe Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: JuanHungLo on September 22, 2017, 01:26:10 PM If you mine a coin and hold it, and it appreciates over time, mining can be very profitable. If you were mining Litecoin when it was below $4, never sold, sold it when it was about $80, you did very well. This is the approach I take while mining Monero. I've never sold any of it. You need to understand that part of the coins you mine you will have to sell to pay the bills, for example electricity. So it means, the moment you sell to pay the electricity and other bills you are already losing, reason why mining is a waste. Mining is never profitable, mining craze which was 3 months ago was also never profitable at all cause the dfficult and farmers tend to overgrow theirs farms which means, common people never see this profit, people paid $700 for a rx 470 3 months ago and will never get that money back. Many of them because of their stupidity still think they are earning $5 dollars a day ehhe and they think that $5 usd is forever and ever hehe I do not agree with the concept of paying your utilities from coins you just mined. Did you buy your hardware from coins you just mined? Of course, not. It is a speculative hobby. You must approach mining in this way. You are not mining for the now, you are mining for the later on the speculative presumption that your coin is going to be worth way more later...more than enough to cover all the utilities and hardware purchases. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: un4given on September 22, 2017, 01:33:22 PM If you mine a coin and hold it, and it appreciates over time, mining can be very profitable. If you were mining Litecoin when it was below $4, never sold, sold it when it was about $80, you did very well. This is the approach I take while mining Monero. I've never sold any of it. You need to understand that part of the coins you mine you will have to sell to pay the bills, for example electricity. So it means, the moment you sell to pay the electricity and other bills you are already losing, reason why mining is a waste. Mining is never profitable, mining craze which was 3 months ago was also never profitable at all cause the dfficult and farmers tend to overgrow theirs farms which means, common people never see this profit, people paid $700 for a rx 470 3 months ago and will never get that money back. Many of them because of their stupidity still think they are earning $5 dollars a day ehhe and they think that $5 usd is forever and ever hehe why r u talking so much bs? mining IS profitable in the long run. I started mining Altcoins in Spring 2016 and it has been profitable to me ever since. i paid all of my hardware in one yoear and have been earning pure profit ever since. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: Basmic on September 22, 2017, 01:41:19 PM If you mine a coin and hold it, and it appreciates over time, mining can be very profitable. If you were mining Litecoin when it was below $4, never sold, sold it when it was about $80, you did very well. This is the approach I take while mining Monero. I've never sold any of it. You need to understand that part of the coins you mine you will have to sell to pay the bills, for example electricity. So it means, the moment you sell to pay the electricity and other bills you are already losing, reason why mining is a waste. Mining is never profitable, mining craze which was 3 months ago was also never profitable at all cause the dfficult and farmers tend to overgrow theirs farms which means, common people never see this profit, people paid $700 for a rx 470 3 months ago and will never get that money back. Many of them because of their stupidity still think they are earning $5 dollars a day ehhe and they think that $5 usd is forever and ever hehe why r u talking so much bs? mining IS profitable in the long run. I started mining Altcoins in Spring 2016 and it has been profitable to me ever since. i paid all of my hardware in one yoear and have been earning pure profit ever since. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: Metroid on September 22, 2017, 01:43:50 PM I do not agree with the concept of paying your utilities from coins you just mined. Did you buy your hardware from coins you just mined? Of course, not. It is a speculative hobby. You must approach mining in this way. You are not mining for the now, you are mining for the later on the speculative presumption that your coin is going to be worth way more later...more than enough to cover all the utilities and hardware purchases. So you think people also pay the electricity with their own money and dont touch the coins at all, which world do you live? I don't think you would be a very successful business man, business are meant to use their money to cover the bills, if they don't then they are not a business company at all. You take and give --> that is how a business operates. What you said is, you just give and who knows when you will take so meaning, if the coins goes to 0 then you are dammed, business companies can't take that gamble reason why they sell a percentage the coins they mine to pay the bills. why r u talking so much bs? mining IS profitable in the long run. I started mining Altcoins in Spring 2016 and it has been profitable to me ever since. i paid all of my hardware in one yoear and have been earning pure profit ever since. It seems you did not understand a single word I said, go back to your cave you troll. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: JuanHungLo on September 22, 2017, 02:57:26 PM I do not agree with the concept of paying your utilities from coins you just mined. Did you buy your hardware from coins you just mined? Of course, not. It is a speculative hobby. You must approach mining in this way. You are not mining for the now, you are mining for the later on the speculative presumption that your coin is going to be worth way more later...more than enough to cover all the utilities and hardware purchases. So you think people also pay the electricity with their own money and dont touch the coins at all, which world do you live? I don't think you would be a very successful business man, business are meant to use their money to cover the bills, if they don't then they are not a business company at all. You take and give --> that is how a business operates. What you said is, you just give and who knows when you will take so meaning, if the coins goes to 0 then you are dammed, business companies can't take that gamble reason why they sell a percentage the coins they mine to pay the bills. why r u talking so much bs? mining IS profitable in the long run. I started mining Altcoins in Spring 2016 and it has been profitable to me ever since. i paid all of my hardware in one yoear and have been earning pure profit ever since. It seems you did not understand a single word I said, go back to your cave you troll. Metroid, the first post talks about hobby mining. I also talk about a speculative hobby. You are the only one talking about it as if you have to run it as a business. I own 3 businesses that make me more than enough to speculate when and where I want. A SPECULATIVE hobby is like an investment, not a business. It is speculative because you don't know if you will make money, or not. That is the way I approach hobby mining. If you want monthly returns that meet all your monthly expenses, then this hobby isn't for you. If you can wait, however, you will do very well providing you choose the correct coin to mine. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: Metroid on September 22, 2017, 03:02:59 PM Metroid, the first post talks about hobby mining. I also talk about a speculative hobby. You are the only one talking about it as if you have to run it as a business. I own 3 businesses that make me more than enough to speculate when and where I want. A SPECULATIVE hobby is like an investment, not a business. It is speculative because you don't know if you will make money, or not. That is the way I approach hobby mining. If you want monthly returns that meet all your monthly expenses, then this hobby isn't for you. If you can wait, however, you will do very well providing you choose the correct coin to mine. Agreed, you are right, this is only a hobby for you and in that sense you can cover the costs as much as you can. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: tstempone on September 24, 2017, 09:57:59 AM You can try Whattomine calculator and see if it really worth invest in mining. Don't use CrytoCompare since difficulty is not update and people tend to show higher than real income per month.
As far as I know In August 2017 1x Rx570 earned about $1.4 per day without electricity concern. Now 24 Sep 2017, it's about 0.7-0.8 and will keep dropping fast. I still don't know the reason a lot of writer (not here, I see a lot of mining guide coming around this month still use old rate that about 200% income of now) try to bait people in mining now. If you start now, it may take ROI about 1.5 years. BONUS! If you are living in cold climate then do it, it's like you get a free heater in your house. But if you are living in hot climate then it's not worth it, with this ROI and hellish living experience. Believe me I am experience this but already invest then I must endure it. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: fmz89 on September 25, 2017, 03:31:20 PM It goes in cycles, right now profits are not as high, but still you have profit. If you have too expensive electricity then i would not go into mining. I hope trend will overturn and mining profits will be bigger in the future $0.21 is my electric price per kilowatt £0.16p in my money (ish) Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: stugots2 on September 25, 2017, 03:57:34 PM I have a love / hate with GPU's.
Hate: as of this moment (and that can change of course) they are the lowest profit of all my miners Love: they are SO versatile they can mine ANYTHING (with the exception of brand new CPU only coins) Truth is I think you WILL ROI but if you looking for it tomorrow, NO WAY. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: Qunenin on September 26, 2017, 03:45:51 PM Yes, it was too late a year back. This is just going to eat your money up and leave nothing for you but a system that you may or not be able to use for normal computing. Maybe you can use the system for a gaming PC when you lose the money, that is very possible, but some systems with 90 video cards and nothing else are pretty useless.
Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: miguelmorales85 on September 26, 2017, 04:00:42 PM I think it is never too late to start mining scrypt based coins.
If you take a look at LTC, it is well undervalued, I see LTC as digital silver. he will be second in the podium of altcoins, also you can check it out the ETH. Its got a lot of faults but todays ICO are based in smart contracts and he is the one of its kind. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: Metroid on September 26, 2017, 04:06:37 PM Like I said people are or want to be stupid. ROI right now is almost 24 months and if nothing wrong happens to your system, It is impossible to make your system to work 24/7 everyday and plus, calculations on websites is something, calculations in the end if it was profitable is something else, people saying they will get their money back in less than 15 months are liars. Stay away from mining and if you have money, invest in coins cause the way things are nobody that is mining is stupid enough to sell at current prices.
Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: sanada.motokage on September 26, 2017, 04:20:00 PM Mining profit is dropping day by day. My suggestion is not to invest mining rigs now.
If there is promising coin will boom or it's profitable, it's good to mine it. ETH will turn to POS soon, I have already turned to other coins such as Zcash, XMR or ETC. If you have huge amount of money for investing, you can jump in now, since the graphical cards price is down too. Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: xxcsu on September 26, 2017, 04:34:34 PM I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING ?"
No one can tell you ! Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money ! You have to make a decision for yourself ! Do your own research ! No one can tell you for sure what's going to happen with cryptocurrency ! No one can tell you it's going to be profitable for you or not ! No one can tell you the ROI ( return of investment) time ! None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later ! Those calculators telling you about today , at that moment when you typing in your information ! It's little bit of gambling , you must to decide you want to play on the lottery or not ;D YES some of us got lucky , made some money with mining YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: Vann on September 26, 2017, 04:43:51 PM I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING ?" No one can tell you ! Always going to be a 2 group of ppl who telling you it's ok go for it , or dont bc you just wasting ur money ! You have to make a decision for yourself ! Do your own research ! No one can tell you for sure what's going to happen with cryptocurrency ! No one can tell you it's going to be profitable for you or not ! No one can tell you the ROI ( return of investment) time ! None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later ! Those calculators telling you about today , at that moment when you typing in your information ! It's little bit of gambling , you must to decide you want to play on the lottery or not ;D YES some of us got lucky , made some money with mining YES some of us got unlucky , lost some money , bc when price started to fall , sold the coins , miners Well said. If there is ANYTHING sure in Crypto, it's that NOTHING is sure in Crypto! There are only costs and benefits to any decision you make. However, the bottom line is GPU mining IS currently profitable and the Crypto market is growing. IMO, if you approach it it as a long term investment rather than a cash cow, you will do OK and that is what history has shown. In the video below BBT gives the persepective of someone thats been mining for a long time and built hundreds of rigs, why you should keep mining, even when it's not the most profitable time to do so. https://www.youtube.com/watch?v=iCSdLSP1sv0&feature=youtu.be&t=364 Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: rdluffy on September 26, 2017, 05:31:49 PM Like I said people are or want to be stupid. ROI right now is almost 24 months and if nothing wrong happens to your system, It is impossible to make your system to work 24/7 everyday and plus, calculations on websites is something, calculations in the end if it was profitable is something else, people saying they will get their money back in less than 15 months are liars. Stay away from mining and if you have money, invest in coins cause the way things are nobody that is mining is stupid enough to sell at current prices. Do the opposite of everything this guy says He is a miner and try to avoid other miners to enter into mining lol Title: Re: GPU Mining Rigs - Is it too late to start?... Post by: tstempone on September 26, 2017, 07:03:02 PM Like I said people are or want to be stupid. ROI right now is almost 24 months and if nothing wrong happens to your system, It is impossible to make your system to work 24/7 everyday and plus, calculations on websites is something, calculations in the end if it was profitable is something else, people saying they will get their money back in less than 15 months are liars. Stay away from mining and if you have money, invest in coins cause the way things are nobody that is mining is stupid enough to sell at current prices. Do the opposite of everything this guy says He is a miner and try to avoid other miners to enter into mining lol You are all welcome to try but don't cry since you have been warned... And, yes! I am also a miner... It's not too late but no one know about the future, try this one http://www.mycryptobuddy.com/EthereumMiningCalculator and set Time Frame to what you desire ... anyway about 24+ months. You will know how many coins you get from mining with this rate of difficulty. If you are ok with 18+ months ROI then you are in. Please consider location of your rig too, as I have mention before. I am from hot climate area. If you plan to put it in some living room and chill, don't... it's like a sauna. All AMD running dual mode ETH+ DCR. GTX1060 is ETH only. - Rx570 MSI is about 58 Celsius with dual mining with mod and underclock - Rx580 MSI is about 69 Celsius - GTX 1060 Gigabyte is around 74-75 with 61 Power Limit. https://i.imgur.com/CNW6FAB.jpg This rest is up to you decide... |
