Bitcoin Forum

I pay 25 cents per kwh, therefore mining is not really profitable.
What options do I have, other options like mining with an hdd?

Some people in texas pay 5 cents per kwh so its profitable for them.

maybe there are some services which let's any person to store mining rigs in some country where electricity cost lest and mining would be profitable? ...

Rent hashing power from NiceHash or MiningRigRentals or cloud mining or buy and hold coins?

It is pretty high. Choosing the right algorithm which has the low difficulty and high market cap coin. That will be right choice to make the better profit. I suggest you choose the nice hash mining for cryoto night and daggerhashimoto.

These both are better coin to mine nowadays. I am sure you will be able to get the 22 USD plus for the 10 RX 470 cards.
Direct simple pool mining and solo mining will not give more profit like nice hash giving to us.

hello my friend in sorrow. I pay for electricity 19 cents, and I am under mining, as much as possible reduces the consumption of videocards. This is the only way for us.

Ethereum mining is still profitable at the current prices.

Maryland

.11 after fees are added in by the Electric company 7.5  cents with no fee's.

gonna have solar after a 1.5 year of trying to get it by April, not sure how much it's gonna be once the solar is turned on and running.


Have a L3 + coming sometime next month , another 1070ti due here Wednesday, an I hope to have a few btc miners soon an may buy a A4 + in time.

Couldn't I compensate the high elec. costs with for example cutting heating costs?

The mining rig would then "be the heating body".

Is that doable or should I just go for nicehash?

If it's winter yes, but the sound of 6-12 gpus is noisy so you would need to have it in a room where the airflow can warm up the rest of the house. Everything is still profitable at 25c/kwh you just need to lower the TDP of the gpus and hold what you're mining for a good sale price. You also need to mine something you think will go up.

As I tell most people though, it's probably better to put the 4-7K straight into investing in a coin/chain than it is to mine it. The freedom mining allows is that you can mine whatever you want if you want to.

If you're just going to rent hashpower and point it at a pool you're better off just buying coins like you said in the latter part of your post. You get exactly what you pay for that way and you circumvent deposit and withdrawal fees as well as pool fees, etc.

GPUs are loud but I do know people who sleep in the same room as their GPUs or close to them. I don't know how they do it, I personally can't fall asleep with them nearby.

There are low power algorithms you can use to mine. Lyra2z for example is used for Zcoin. I have - across 2 rigs: 2 x 1080, 4 x 1070 & 4 v 1060.

I can mine at 16mh/s at only 600-700W.

Crytonight is also low power (I think), and there are occasionally new coins that use it. It's probably too late to mine Monero but maybe have a look for newer coins using lyra2z or cryptonight algorithms. Mining new coins is always a bigger risk because they are usually worth very little to begin with but if you are lucky and one of them takes off the reward is huge. In this case I mean mine something and HODL it - don't mine it and sell it straight away, and hope that your coin takes off.

Zcoin (XZC) mined through miningpoolhub is actually still profitable even if you do want to sell straight away, but you wont make much. It's at around $50 right now but for a short while in December - before all the market speculators got the fear and the price of BTC fell - it was at $150 and I was mining it and making quite a lot every day. It's a good coin because it has privacy built in like Zcash (which hasn't actually produced it's privacy features yet) and privacy is a huge feature advantage in any currency because it makes it more "cash" like and improves fungibility, so maybe it will recover in price later.

The whole crypto market is depressed right now and that means that miners who pay too much for energy are the first ones to either stop mining, or look for something they believe will increase in value and HODL it for the future. Personally I think Ethereum is most likely to hold value or increase over time because it underpins so many other things now and has a very strong community and huge developer interest and resources. That means that often when I mine anything, like the latest dumb neoscrypt DASH clones - I trade back to ETH and I keep accumulating ETH. I also trade back to DASH because it has very low fees on exchanges and I think it should have a future because it's the original miners & masternodes plus governence coin. It really should be doing better than it is if we were only pricing things based on merit rather than hype.

sorry to say but 16mh/s at 600-700 watts is very bad .... i dont think thats can be profitable at all

I have been mining nearly a year with 25c AUD/kW =~20cUS/kW and it has never been unprofitable - I only pay 25-35% of profits to cover electricity.

You must be doing something wrong.

Yeah It's still profitable. I'm at $.17 in my state and it costs me $250 to make $800 this month with 1070 & 1080ti @70% tdp. Whatever algo is paying highest. That's around 2000watts for all you magematicians.

Cost of the electricity every country is different. Maybe some miner still profitable. And also determine, on your hashrate have. For mining using HDD, you can try a Burstcoin. You must have the big  space your HDD because that coin determined how big is your HDD size.

Nothing only pos is left.

Under some circumstances it's more profitable to rent than buy and vise versa. People need to do their own research and calculations.

You have to check for various coins to mine and the best way to figure out which one is most profitable is to mine it for some time and make your own calculation according to your hashrate, algo diff etc.. I'd rather would not bother with WHATTOMINE.COM as everyone suggest, because this site is spreading bullshit and its calculations are wrong or displayed specially to deceive.

Regards

You best bet is Baikal miner. Low power consuption and decent income.

If the electricity cost is that high it may just be better to buy and hold coins rather than mine.

If you really want to mine use a low power usage algo such as CryptoNight.

.25 cent per kw is pretty high i would testing some algorithem with undervolting your gpus which will be  less cost in electricity i will provide with topics for undervolting gpus you could check out

https://bitcointalk.org/index.php?topic=1852812.0

https://www.reddit.com/r/EtherMining/comments/4xyloo/150200mhash_mining_rig_focus_on_low_electricity/
Check both topics and search further you will get what you need best of luck