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Title: Mining question Post by: HardCore12V on March 20, 2021, 09:04:05 AM Can mining be considered a long-term investment? If Yes then drop your plan or reason why and if it's no don't hesitate to share why
Title: Re: Mining question Post by: Daodex on March 20, 2021, 09:27:05 AM Probably or probably not, why ?
1. Free electricity can make mining a good long term investment even if bear market comes and rewards are lesser than now 2. The reason why mining is a bad idea in bear market is you have to worry about electricity bill to keep your mining rigs up and running So the question is which side are you on? Do you pay for electricity? Or you have free electricity? This is what will make you keep mining in any market condition Title: Re: Mining question Post by: fmz89 on March 20, 2021, 09:54:58 AM Can mining be considered a long-term investment? If Yes then drop your plan or reason why and if it's no don't hesitate to share why thath depend on cost of electric in your country, 0.05$/kwh should be good for investment, especially using turbine for free electric will be make miner true machine money as long crypto mining still here and most likely will be here for long time, this for base price creation for every minting coinTitle: Re: Mining question Post by: MCcryptonia on March 20, 2021, 11:40:58 AM Can mining be considered a long-term investment? If Yes then drop your plan or reason why and if it's no don't hesitate to share why thath depend on cost of electric in your country, 0.05$/kwh should be good for investment, especially using turbine for free electric will be make miner true machine money as long crypto mining still here and most likely will be here for long time, this for base price creation for every minting coinTitle: Re: Mining question Post by: FP91G on March 20, 2021, 08:35:41 PM Can mining be considered a long-term investment? If Yes then drop your plan or reason why and if it's no don't hesitate to share why The main mining expense is paying electricity bills.Other expenses are rent (if you don't use your premises) and security. When we talk about investments, we must know your capabilities and investment amounts. For example, you can figure out which is better if you buy $ 20,000 worth of cryptocurrency now or buy video cards for mining in your garage and mine for 3 years. The cost of electricity is, for example, 6 cents per kilowatt. If you bought Ethereum for $ 150 more than a year ago, you would already have made a lot more than miners. Title: Re: Mining question Post by: adaseb on March 20, 2021, 08:48:09 PM I would not say it’s a long term investment because the profits are very hard to predict and can change on a weekly to weekly basis.
You can’t just spend $2000 on a rig which will make you $5/day and expect to make the same amount of profit a year from now. There is something called difficulty which reduces your rewards when more people are mining and there is the price of the coin itself which can easily double or halve within a few months. Title: Re: Mining question Post by: Commie on March 20, 2021, 10:18:15 PM Can mining be considered a long-term investment? If Yes then drop your plan or reason why and if it's no don't hesitate to share why As I see it mining is just as unpredictable as the stock market LOL. I started mining years ago just as hobby, was buying equipment when I could, had to stop my rigs sometimes, but I wasn't selling my mined crypto and that turned out to be the right decision. So if you're trying to calculate your ROI etc I wouldn't encourage you much, but if you're like me and ready to put money into it and don't take it out for few years - profits *might* be quite juicy :) Title: Re: Mining question Post by: ummasek on March 20, 2021, 11:17:38 PM Friend of mine asked me that same question 8 mnth ago. I`ve ansvered - YES.
He bought Asrock H110 BTC+, 6xMSI 5700XT EVOKE (samsung) and all the stuff needed, and now it`s all payd off. I`ve said to him - sell it now, and buy later, but he wont listen. Long, as few years - good investment. Just get redy to pay electricity later - now it`s ~15% of the price of ETH, but a year ago, was like 90% :/ or more. Title: Re: Mining question Post by: xxcsu on March 21, 2021, 02:25:49 AM Can mining be considered a long-term investment? If Yes then drop your plan or reason why and if it's no don't hesitate to share why as you wished :) Posted this topic almost 3.5 years ago... There is the brand new, 2021 updated version ;) There is the Original Link for my topic from 2017 HERE (https://bitcointalk.org/index.php?topic=2208927) The same thing happening now what happened in (2016) 2017, ppl got crazy about mining, investing money into GPU's, ASIC's, hoping a big profit in a short time, GPU's, ASIC's price are crazy high, but really no one know what's coming in the future. Lot of us know what happened in 2018 (https://cointelegraph.com/news/overview-of-the-crypto-mining-industry-in-2018-will-the-struggles-extend-to-2019), some of us was able to make a great profit with mining ( mostly those guys who started mining before crazy GPU prices ), and some of the unlucky ones come back to this forum and cried for they Money, said just bad things about mining ( mostly those guys who paid 3x, 4x, 5x price over a RX480/580 MSRP ( manufacturer's suggested retail price ). Before you jumping into mining please do your own research, especially about ETH mining, check the roadmap for ETH development (https://www.etoro.com/news-and-analysis/crypto/exploring-ethereums-development-roadmap/), make sure you know more than what mining calculators telling you. Learn about ETH2 (https://ethereum.org/en/eth2/) , EIP 1559 (https://www.reddit.com/r/ethereum/comments/lk1rjp/this_is_why_eip_1559_is_good_and_why_vitalik/) , Mining Reward Reduction (https://en.cryptonomist.ch/2020/04/30/halving-of-ethereum/) ... and if you are living in the USA , make sure you know what this IRS letters are about : Letter 6163 (https://www.irs.gov/pub/notices/letter_6173.pdf) , 6174 (https://www.irs.gov/pub/notices/letter_6174.pdf) and 6174-A (https://www.irs.gov/pub/notices/letter_6174-a.pdf) also ... Its a good thing to know about Tax Consequences (https://www.irs.gov/businesses/small-businesses-self-employed/virtual-currencies) The big brother is watching you, and not just in the USA. HAPPY MINING to all of you and good luck with your new adventure ;) Be Aware ! Scammers are Targeting You! Hackers are targeting You! You can be a victim of a phishing website ! Watch out ! Make sure You Buying gears from legit source ! Downloading program from legit source ! Make sure you have a hardware wallet ! Im sure we going to see a lot of "crying " ppl here as soon as Price going up , scammers , hackers getting into actions :( , and most of the victims going to be some of our community new members :( , our "Newbies" I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTIONS " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ? WHY MY EARNING IS LESS THAN ALL THOSE ONLINE CALCULATORS TELLING ME? WHAT IS THE BEST COIN TO MINE ? WHAT IS THE MOST PROFITABLE COIN TO MINE" No one can tell you ! Always going to be a 2 group of ppl who telling you it's ok go for it , or don't bc you just wasting your money and time ! 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 how much profit you going to be able to make ! ( if you can make any at all ) No one can tell you the ROI ( return of investment) time ! No one can tell you what is the best coin to mine ! No one can tell you what is the most profitable coin to mine! Coins profitability always changing, what is best to mine today, maybe going to be the worst to mine tomorrow ! 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 ! None of those online calculators calculating pool luck ! None of those online calculators calculating your stale/rejected or invalid shares ! None of those online calculators able to predict difficulty growth ! None of those online calculators can predict what would be the coin/$ exchanges rates a minutes later, a hour later, tomorrow, next week, months later, 6 months later or a year later ! 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 they coins , miners... ! INVEST ONLY WHAT YOU'RE WILLING AND ABLE TO LOSE ! ! INVEST WITH THE UNDERSTANDING , THAT YOU COULD LOSE EVERYTHING ! Title: Re: Mining question Post by: Vann on March 22, 2021, 04:24:55 AM I view mining as a hedged investment in Crypto. Hedging is a strategy to minimize risk, not maximize your return. By making a capital investment in a mining rig, your operating expenses are relatively the same for any coin you mine. Once the rig is paid, as long as after expenses it's profitable, your cost basis for the coins you mine are lower that buying the coin directly. In the case of a GPU rig, it can mine different coins and also be sold later to recover much of the initial cost.The short-term downside is the time it takes to recover that initial capital investment, which otherwise could have been invested directly.
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