Bitcoin Forum

It was sad that I shut down my GPU mining rig 2 days ago.  I couldn't justify the cost of running it and barely breaking even with alt coins.  A few months ago it was generating a nice profit, but with the prevalance of ASICs hitting the scrypt market and other algorithms not really taking off as profit-houses, GPU mining may finally be put to rest.

So I have a question, are any of you mining with gpu's and seeing a profit to justify the huge electricity costs?  I have gone from scrypt, scrypt-n, keccak, x11, and x13...sadly I was breaking about even at the end.  It may be time to sell my R9 290 video cards and hope to recover some of my investment.

If you were about to break even, you should be able to sell them to make profit. Or you could continue mining x11/x13 and all those new algos? They apparently use less power.

monero.

I've just stripped down and sold my gpu's and associated hardware for the very same reason plus its summer here and the heat was making my house unbearable.

Was okay in the winter because I hardly ever had to put the heating on or use dryer to dry clothes so wasn't really costing anything.

I was only mining on a relatively small scale as a hobby more than anything else but that's now unsustainable.

I think more and more people are realising that its not cost effective to buy the latest hardware and mine any algo unless you have free electricity so that rules most people out.

you can still catch some coin at launch and make some profit, but even this is harder now, another end of cycle is near like the one of one-two months ago

That's what I resorted to for the last few months mining x11, x13, x15 because there is absolutely no profit mining any scrypt coin with a gpu.

Problem is its so hit and miss with new coins most of the time they're not worth the hastle mining on a small'ish scale either.

I will invest in some more mining equipment before winter but until then I couldn't tell you whether its going to be scrypt asics, sha-256 asics or some gpu's again.

In the meantime if I think a coins launching with some potential I'll rent a rig and mine it for the first few hours.

Agreed, you'd have to pick the worthwhile coins but the fact is you can still make some decent coins with the low difficulty just launched especially if they explode early on. 

Its almost impossible to break-even at this profitable, you are lucky that you did. But anyway its time to sell the graphic card and move on. Not worth the time maintaining it.

It's not the scrypt Asics killing profitability. Scrypt Asics don't do Scrypt-n, x11, -13, -15, Keccak etc.

It's the new difficulty re-targeting algos. A few months ago you'd be easily mining a whole bunch of coins at low diff because the block rewards were not being dynamically adjusted. In addition to that you now have ~500 shitcoins out there, essentially diluting an already small market.

yes , that can be done but it is difficult picking a good coin out of tons of scam coins that are launched daily . GPU mining days are sadly over.

no good reasons not to mine monero. that makes weeks ive been waiting for one  ???

Indeed, hard time for GPU Miners !

To save energy I did a transition from AMD GPU to NVIDIA GPU - 750 Ti - but I nearly get 0,020BTC / Day....

Cheeky I know but how many cards do you use and what do you mine to get 0.02btc a day?

12 x Gigabyte GV-N750TOC-2GI @ NiceHash x11/x13

Whoever that have electricity of more then 0.08 cent/ KWH, please shut down your GPU rig and sell your GPU. You are helping your electricity company to make a profit, and you only get break-even.

maybe i am stupid, but just read threads like these: https://bitcointalk.org/index.php?topic=135897.0

and then think again.

(ofcourse if you have to pay your electricity immediately and you are mining at a loss, then it would be wiser to invest in the coins with cash)

I kept my  mining rigs on for the last month but as soon as profitability became less than my power tariff , I stopped all of my rigs . It makes no sense to mine unless power is free or dirt cheap.

this is true if you're just mining for the short term speculation.  the people that make the most money are speculators, and those are also the people that stand to lose the most.

Whatever speculation you make, if you can't even profit from your GPU then you are better off selling your GPU and buying the coins that you are speculating or buying hash from nicehash.com.

Yeah , it makes no sense to mine  in the current scenario unless power is cheap or free and buying a coin is always a better choice .

My 7870 is only doing 1.7Mh/s mining X11 for multipool...
I'm barely making any money at all!