Bitcoin Forum

IS MINING STILL PROFITABLE NOW? SORRY NEWBIE HERE

Right now mining is not profitable but it was profitable. It might be profitable again or it might not be profitable again.

It is definitely still profitable. Now if you are looking for 3-6 Month ROI you will not receive it but once BTC goes back up it will be back to 6 month ROI. When BTC was doing its run, it was 3 month and under ROI, but its back to the usual 7-12 month ROI, which is still great.

At this time still profitable for miner bought a GPU 1 year ago although almost all coins are a decrease. At this time, mining isn't profitable for miner purchasing a GPU with a high price and nearly all coins price are a decrease.

Mining profitability depends from electricity cost.
If you have low cost or free electricity its allways will be profitable

always will be profitable but is not yet profitable even have to wait for ROI first, although you don't have a problem with electricity cost. because of a profitable viewed after ROI not see low cost/free electricity although that one of a factor

Ofc its still profitable, just less then it was. A lot of people have unrealistic gready view on mining. Its not an instant get rich deal. But if you are methodical about it do your research and are in for the long term it sure is profitable.

For instance if you are mining now, do not sell anything you mine. Save it and sell when the prices are high. That way you basically mine at high profitability you just get paid by delay. Or you can mine new promising coins that still have low difficulty.

Lots of options you just need to put some research into it.

Thank GOD,...This topic that I was looking for, before I hesitate to build rig mining. But after following this topic I became more convinced that mining is still profitable. Thank you masters :)

Dont apologize we understand it you are learning bit by bit.

Well speaking from the charts of blockfolio and basing on what I studied, I would say yes, now its a no but later big yes. Want to know why? Its because of bitcoin is at 8,000 USD and when that increase you can earn and get your profits, sana as Ethereum so do not get lost with mining. If your not just into fetting bitcoins or ethereum you can Say it would rise as its now  :) profitable. When Market value increases miners will earn too not like if it down fall.

Mining is dying

yeah, miners need to hold a coins its a few time until mining is back to life and price all a coin back to the moon and keep the Rig to remain idle if electricity bill higher than income and keep patience to wait for ROI.or if some miners can't through this process, then they can sell RIG its, on eBay or Amazon.

ROI now is 2-3 yrs, depends on the price of electricity, yet still somewhat profitable (for me, not recommended)

just predictions, no someone truly knows what would happen with Cryptocurrency especially mining, example price of BTC, see the price history of BTC:

Date                                      USD : 1 BTC
May–June 2016                       $450–$750
July–September 2016              $600–$630
October–November 2016          $600–$780
January 2017                          $800–$1,150

Surprise, who would have thought the bitcoin price could rise sharply in a matter of months. So, that matter can also happen for ROI, can ROI next month or next years or 2-3 years or 10 years later.

Reference History Of bitcoin (https://en.wikipedia.org/wiki/History_of_bitcoin)

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now mining is profitable for me.. you have a patience in mining.. because i have mining rig

Yep, so are we all. Universal entropy hat tip Nietzsche. Anyway, if anyones selling their 1080ti's cheap do let me know.

For me, I always mine coin for long term holding, so I dont spend much time on looking daily price. Actually, I have to sell a bit for electric bill each month, and some of my friends who already joined mining few years, they all said in some long and deep down trend, they even mined BTC without any profit.

yep  profitable.

depends on many factors, price of electricity, the market, price of equipment... but from my point of view it is still profitable, at this moment it is time to do hodl and wait for market recovery to come out even with more profits.

Mine now and just don't sell in this bearish market. What I do these days is, mine and hold. There's just no way I'm willing to sell any of my crypto in this bearish market.

Depends where you live, in some coin try with cheap electricity it is still barely profitable, in other countries it is already at wall socket level..
So i guess if you want to start mining it is not the best time now

mining is always profitable,it is all the matter of HOW profitable
ROI can be different,ranging from 3 month (or even less) to 3 years and more
at the moment,it is not very profitable to get into mining,especially with GPU's and CPU's
average ROI is over a year for GPU's and almost two years for CPU's
the lower the price is going to drop,the more time it will take you to return your investment,so do not start unless you are able to hold coins long enough
to sell them at a higher price and get some good returns

so far not very profitable for me if i were to sell the coins now.. so i hold it until it valuates in future.

But currently only using 1 x gtx 1050 ti + cpu for ETN

I see that other thread has been created in this same section for saying mining with GPU will not work hereafter but you have said that it is still profitable bro. Hope your answer would work better than anything.
When the time most of the top crypto currencies dumped, you will find the difficulty on the concern coin.

Choose the right algorithm which is profitable now then go with that there are many profitable has been launched from the Zotac recently as I got the information. Get it you may get more than 50+MH on mining ethereum.

It's really depend on the mining rig(s) that you have.
If you have high-end mining rigs or even investing in ASIC mining rig then yes it's still profitable but with a very small/ close margin and your ROI will bit longer.
Even the monsters-rig like the new release X3 from Bitmain and Baikal N series will be not profitable as they advertised since they're all will be dead on arrival.

It's still profitable but not as profitable as it used to be. It also highly depends on your electricity cost and your hardware. If you already own a computer which could be used, you're solid. If not however, building a rig currently is a risky investment, GPUs are still expensive due to miners and their high demand. That translates into you needing months or even more than a year to break even.

Mining is still profitable if you research the best coins to mine with your specific hardware. Even with rates up to $0.20 / Kwh you can still be profitable although 5 months back the mining profits were much better. Getting your money back may now take you up to 2 years with current mining profits so it isn't as lucrative as it may have been in the past but if you believe in buying and holding the coins you may benefit in the long term.
 
I personally wouldn't be buying loads of GPU's right now unless they were NEW and dirt cheap and I mean below retail value...

Mine on!

dude what I mean here is the instantaneous rate, not predicted

I feel that mining is indeed profitable. I think as long as my earnings are greater than my electrical costs than it is ok.

The bad feelings by many on here are probably due to them overpaying for their mining gear and they are too focused on looking at the short-term. The way I feel you basically invested in mining gear in order to "buy" coins and a less than market rate.

This is still true as of today, where you gain more coins for your $$ by mining than you do by buying them directly. Since the only reason to invest in a coin is that you feel at some point in the future the price will go up, then by that measure mining is still profitable.

yeah, I bought 1 year ago  6x RX 480, 6x R9 290, 6x 470, 3xRX 580.mining in ETH/ETC coins, The payout from Pool Ethermine per 2 days. I still profit after electricity payment (in my country) even I can buy one RX580 per 50 days

ok, Now change prediction, so instantaneous rate. still, nothing guarantees that instantaneous rate 2-3 year, that could also happen 1 year or 4 years or 10 years. the points its can't prediction instantaneous rate because of on ROI influenced by many things.

if you have not started mining better you are waiting for the G20 world government decisions. which discusses the continuation of crypto ..
world governance is very influential in the world of crypto, so you wait for the decision, if they allow you to open the mines, if they do not support crypto then you better discourage your intention to start mining.

if you open the mines with VGA / GPU you better read news tentmin bitminer / machine engine specially designed to mine, if they remove the device en masse, you better stop your mining with VGA card / GPU.

it's just my advice

Surprise crypto is one big pump and dump

Every coin that comes out is made to pump and dump via master nodes and mining

The only way if mining becomes profitable is if Bitcoin is ARTIFICIALLY PUMPED UP TO late 2017 levels

Until then your 1080tis will struggle to make$1

ROI takes a long time especially with the skyrocketing GPU prices

I agree whit you, need hodl to make good profits in mining at this moment

Pay electricity bill on time.
For the rest, keep on mining and hodl.

hodl only makes sense if you can hodl for the next ~2 years. Get real guys, we're not going to have another bubble while this one is still bursting.

Get asics. They been dropping in price and pay out more. Problem solved

ASIC sales are designed to be profitable only for the sellers, if you make anything off them its just pure luck. ASIC manufacturers make most of their profit by mining themselves and only sell their old units to maintain the illusion of a distributed network.

They know exactly how many units they are going to make or when they come out with newer models so they fine tune the sale price to precisely what the unit would have made if they just kept mining with it - in other words, they set the price where they think people are going to barely break even.

mining is profitable , if you have a good set up in your pc , but for me its too expensive ,and it takes times to sell what you have mined. ive tried mining but , it gets more of your time , you need to watch it every now and then , and if you also have a poor connection its nothing ,. and you need a good set up or else you cant mine good . and pc might get over heated , if your place is not cold ,.that just for me ,. we have a different mind set.

Yes it is profitable.  Will it be in the future.  Don't know.  ROI for me is 11 months left if prices stay stable and difficulty increase doesn't spike like it did dec. - mar.  2018.   

If the price goes up to 11-13k.  7-8 months.

If you haven't bought a miner yet.  Don't.  It's risky. 

Take the l3+ mining stats
December 2.5 LTC
March 1.6 LTC

I expect my L3+ to make less than .4 LTC per month by December 2018. 

At today's prices thats just a little over the electricity usage.  $57 (at a .10 kWh rate)

If it goes down below $140 and stays there till december.  well....poop.

actually, mining still profitable because we have many options to mining and we can use every chance from the coin to mining. but there are many things that we need to think and calculate so we know which coin that will bring a profit for us in monthly. without doing research about mining itself, we don't know how to mining, how to choose the right coin, we don't know how much the electricity fee that we should pay and another else. but if you still don't know about this and you still want to try and start mining, then you can go with mining.

Unless you already have some rigs, don't invest in mining as it's way too risk to get your money back. It's less hassle just to buy some coins and hope prices will go up one day. I used to do mining back in 2013-2014 but I had quit because there were many troubles. Had I keep coins mined in 2013-2014 though, I would be rich!! But no miners mine coins just to keep for several years, they have to pay electricity!

how much money did you guy invewst for a rig mining

I believe a strategy worth trying at this point in time is the longshot coin mining.

What is it? Basically just a mine a fairly new coin that isn't listed on an exchange yet. Once it gets listed, you will surely have already mined a lot and probably earn much more. Just make sure you pick the right coin that isn't a shitcoin that never actually gets listed.

Around $8500 for 8x1080ti rig, but that was last September. Currently VGA prices are way too high, doesn't make sense to buy a single card for $1400.

Mining is still profitable but not as like before. I came to know about mining through one of my friends who is doing mining. I too had a thought of investing in it. But right now he cant able to cope up with the electricity bill. This bill occupies his 50% of his profit earned through mining. If you live in the area where it has low cost or free cost of electricity then its best to invest in it.

That sounds like a good approach. Only problem most mineable new coins are shit. 95 percent of them. I think another strategy i might try is to mine zcash to autoconvert to btc or eth.  And use those funds to invest in a popular ico.

It is profitable depending on your electricity cost. Keep in mind that since yesterday the GTX 1060 3GB cannot mine anymore Ethereum due to DAG 177 difficulty increase so if you have not yet bought your cards do not buy one of these.

DAG won't reach 3gb until a year from now, if you are unable to mine then you're getting screwed by your OS (win 10 i'm guessing?) There is no reason not to use win 7 or linux on a 1060 rig.

Also DAG size is unrelated to difficulty.

$4200 for a 6 GPU RX570 and RX580 rig. (I bought Titanium rated PSU's vs. the G2)

$1100 for an A3 (includes a power cord and cat6 cable) 

The price difference and ROI timeline is very different.  The A3 is riskier and way louder than the l3+.  If these ASIC's die or whatever their depreciative value is way lower than the GPU rig.  I can sell everything on it and still make a profit if I had to today.

That is one benefit of a GPU rig I have found.  Re-sellability.   Kind of like buying a toyota vs. something else.  I could sell a toyota tacoma with over 150,000 miles and still get a higher ROI than say a Ford F150. 

So if you do get into mining I'd do two things.

Make a decision tree analysis and figure out your best case and worst case scenario down to difficulty rate and price.

Estimate your rig cost for a bare minimum setup.  If you want a 6 GPU or 12 GPU capability, figure out how much your rig would cost to build with 2 GPU's and then shoot for that. Get that up and going....You won't be making a lot.  Just a dollar or 2 a day after electricity...but it will be running.  Then be patient and hunt for GPU deals...on craigslist, on ebay, on facebook, on new egg, etc.  Buy them individually and just add them in.


Or just buy an ASIC and forget about it.  Know your ROI will be about 12 months with that.  Unless you get an A3, but know they can be bricked by a fork.  Or an L3+  but know you will be getting about .3-.4 LTC by december if there are no other major difficulty increases  (and keep an eye on a potential 1GHz LTC miner coming out about june or july.


Anyway.  It's risky.  Do your due diligence.  Take a week and gather data, run scenarios and allocate percentages.  So when the price drops you can just hang on or cut your loss. 

J

Why do you think a 1 GHz LTC miner will come out in June / July?

[/quote]Why do you think a 1 GHz LTC miner will come out in June / July?
[/quote]

https://www.ehsminer.com/product/ehs-asic-scrypt-miner-vi/


Well......crap.  I copied that and was looking for their news update on shipping and found that in late february they cancelled all their orders and refunded everyone because they didn't meet manufacturing quotas...


https://www.ehsminer.com/2018/02/13/ehsminer-withdraws-wolf-preorders-maintains-asic-chips-development/

So...nvm on that.

does anyone able to give an accurate figure how much will one make after selling the coins using 8x gtx 1080ti or 8xvega64/56 in a rig/mth?

Thanks alot

If you asking about BTC it is not(now) but mining the other coins is profitable still! So if you want to start mining choose what coin you want to mine and do this shit!

Its game over trolls and all the blame on btmain and mt-gox once again hehe, everytime btc goes to 9k mt-gox open its wallet and sells its coins, crashing bitcoin again ehhe

I doubt you will get a solid idea. Some people use Nicehash and suffer, others do their daily research to find coins that are profitable to mine and make NH x2-x3

if you do not think head, you can get very little or even constantly lose money, crypto is very fast, and here much faster you can take off or fall, be careful. as for me, mining is profitable, but you can diversify your investments, it will give more stability.

I am a bit new to mining, only 4-5 months mining and I was told that mining with Windows 10 was the best option. I tried Nicehash, Claymore DualMiner and they don't work but at Winminer it works, how is that possible, what is going on, is Winminer cheating at me ?

What about mining for a long-term, hoarding coins that looks solid and may have potential in crypto future?

Moreover ETH DAG will never reach 3GB before it goes PoS. 
And will ETC still be a relevant mining coin next year? 
The other obscure ethash coins will never reach 3GB before they vanish. Word.

Profitable, yeah! But profit decreases very fast now. Difficulty always rises, so the pay-off period of your mining rig now can take more then a year.

If you where to buy a 200 MH ETH mining rig off ebay.  Current pricing is $1,800.

You would need approx 340 days or 11 months to obtain Capital Recovery. 
This assumes electric rate of 10cents.
Also assumes price & difficulty stay the same.

However, if the price of Ethereum where to increase 2x and difficulty would stay the same you could roughly reach capital recovery in 6 months.

However, in my humble opinion you could be profitable after 7 months if the crypto market expands.
Mining however, should be a long term investment and you should not be mining if you want to take daily profits.

Many people make mistakes selling their crypto early and miss out on the longterm gains.

Also if you live in the US, it would make sense to set your payouts higher to comply with tax codes.
 

Sources:
https://www.ebay.com/itm/197MH-s-7-AMD-GPU-6-x-RX480-1-x-RX470-Ethereum-Mining-Rig-No-Reserve/152951331198?ssPageName=STRK%3AMEBIDX%3AIT&_trksid=p2055119.m1438.l2649

Whattomine:
http://whattomine.com/coins?utf8=✓&adapt_q_280x=0&adapt_q_380=0&adapt_q_fury=0&adapt_q_470=0&adapt_q_480=7&adapt_480=true&adapt_q_570=0&adapt_q_580=0&adapt_q_vega56=0&adapt_q_vega64=12&adapt_q_750Ti=0&adapt_q_1050Ti=0&adapt_q_10606=0&adapt_q_1070=0&adapt_1070=true&adapt_q_1070Ti=0&adapt_q_1080=0&adapt_q_1080Ti=0&eth=true&factor%5Beth_hr%5D=206.5&factor%5Beth_p%5D=945.0&grof=true&factor%5Bgro_hr%5D=126.0&factor%5Bgro_p%5D=910.0&x11gf=true&factor%5Bx11g_hr%5D=46.9&factor%5Bx11g_p%5D=980.0&cn=true&factor%5Bcn_hr%5D=5110.0&factor%5Bcn_p%5D=770.0&eq=true&factor%5Beq_hr%5D=2030.0&factor%5Beq_p%5D=840.0&lre=true&factor%5Blrev2_hr%5D=34300.0&factor%5Blrev2_p%5D=910.0&ns=true&factor%5Bns_hr%5D=5740.0&factor%5Bns_p%5D=1050.0&lbry=true&factor%5Blbry_hr%5D=665.0&factor%5Blbry_p%5D=980.0&bk14=true&factor%5Bbk14_hr%5D=9800.0&factor%5Bbk14_p%5D=1050.0&pas=true&factor%5Bpas_hr%5D=4830.0&factor%5Bpas_p%5D=945.0&skh=true&factor%5Bskh_hr%5D=126.0&factor%5Bskh_p%5D=805.0&factor%5Bn5_hr%5D=133.0&factor%5Bn5_p%5D=805.0&factor%5Bl2z_hr%5D=420.0&factor%5Bl2z_p%5D=300.0&factor%5Bxn_hr%5D=11.2&factor%5Bxn_p%5D=840.0&factor%5Bcost%5D=0.1&sort=Profitability24&volume=0&revenue=24h&factor%5Bexchanges%5D%5B%5D=&factor%5Bexchanges%5D%5B%5D=abucoins&factor%5Bexchanges%5D%5B%5D=bitfinex&factor%5Bexchanges%5D%5B%5D=bittrex&factor%5Bexchanges%5D%5B%5D=cryptopia&factor%5Bexchanges%5D%5B%5D=hitbtc&factor%5Bexchanges%5D%5B%5D=poloniex&factor%5Bexchanges%5D%5B%5D=yobit&dataset=Main&commit=Calculate

I thing mining is still profitable. Because that depends what gpu you use andwhat coin you will mining. But indeed for now the price of gpu is very expensive. So my conclusion mining still profitable but not as much as the previous year. Happy mining brother / sister...  ;D ;D ;D

Its profit has been very low. Most of the costs have been taken away by electricity. I think it is not worthwhile to conduct mining now.

Its game over trolls, check the profitability.

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30.0&p=180.0&fee=2.0&cost=0.2&hcost=450.0&commit=Calculate

now if you electricity is $0.3 then everyday you will have to pay $0.26 to the power company. So it means, is game over trolls hehe

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30.0&p=180.0&fee=2.0&cost=0.3&hcost=450.0&commit=Calculate

Than't what smarter miners usually do, especially during times like this.

I appreciate your honourable and continuously efforts to lower the difficulty by demotivating the miners. May the Crypto Gods be with you!


Btw: I pay 0.265USD/kWh and I'm still at 140%R.O.I. (after all exchange fees, based only on electricity costs, let's keep hardware out of that equation, lol);

But not with ETH. (Don't ask. I won't tell.)

I have still 2 to 3 weeks left before turning off the rigs. What will indeed happen for all of us at some point in the future.

If i were you i would turn off right now cause pools usually steal 30% or more profit from the calculation, be aware of that. Bitcoin crashing is fine cause  asic companies would never lose profitability now gpu miners are losing everyday as eth price crashes.