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Posting this again ... When will the fucktards eventually get that this isn't a daily profit game? I've posted this in two other threads and I feel the need to do it again ...
"I don't know how to tell you this, but you are insanely wrong with part of that. With the 31 gpu's that I have, I mined various coins and traded for btc in the month of March. In the month of March, I ended up with 0.18337303 BTC. If I converted to fiat right now that would equate to $1315.70USD. My electrical costs (rigs and ventilation) for the month were approx $400USD. Do the math and tell me that isn't profit.
I bought my gpu's last year at reasonable prices, not much over MSRP. Not all, but a large portion of my rigs are paid for, if I converted to fiat right now. I'm not converting to fiat at today's btc price (not even to cover electrical costs). I'm placing a bet and waiting. I'm not advocating that someone go out and pay insane gpu prices right now and start building a farm. But do not tell me that gpu mining (in my situation) is not profitable. Lol ... It would be insane for me to shut down my rigs right now and sell everything today."
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Good news for the gamers? haha
Joke aside, I do think GPU mining will be replaced, for good reason - increased mining difficulty for better security.
Disclaimer: I'm a miner with 90 GPUs.
Increased mining difficulty has nothing to do with security of a network. Difficulty increases are based on increased hash power that is introduced to the network. Increased difficulty on a network means that your gpu with a lower hash rate on any given algo compared to a gpu with a higher hash rate will result in less for you than it did when difficulty was lower and hash power on the network was lower. Replace your old hardware with new hardware that has better hash rate with increased difficulity = same mining capability. Coin price is another variable. Coin price does a 2x, you have the same hardware, even with new hash rate introduced to the network, you feel fine, even when the difficulty goes up. Difficulty goes up, coin price goes down, you have the same hardware, you feel a little less fine. It isn't rocket science. |
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I see day by day, ASICS of many coins are launching, individually or multiple. Chinese companies are trying to kill the GPU mining market once again cause they are greedy, just like they did to Bitcoin and Litecoin. GPU Mining died in 2013 and was resurrected in 2015 with the Cryptocoins Generation 2.0, although many of you miners just started mining on 2016 due to huge pumps on those 2.0 cryptocoins.
As Cryptocoins got more popular than in 2011 - 2013. The new generation of Cryptocoins 2015 and afterwards are endangered by ASICS once again, and 2018 looks to be the year of per the title "GPU mining will die in 2018!".
Keep in mind that there are possible ASICS for ethash already for Q1, and even if ETH goes POS, ETC and other ethash coins will be only ASICS and if that happens only Equihash coins will be minable for a time and I have a word that there is already an ASIC in development for Equihash already and will start delivering in Q4 2018. As GPU mining keep gets scarce, other popular coins will have pumps and so ASICS will be born for them.
I want to know your thoughts about it and I wonder the limits of --> "where, there is money to be made, there is greedy"
Keep in mind that this price crashing we are seeing is due also to the fear of ASICS for most GPU mining coins.
You've got the right point there and I'm looking forward to sell my GPU's as soon as possible due to that. Once Ethash & Equihash ASIC miners get released, we'll see a heck load of GPU's coming out on sale at literally half of price, so it's better to sell out now. The GPU mining can't be just vanished though, there'll always remain a few coins that can be mined through GPU's but their profitability? I think it'll be much lesser. Ethhash ASICs are not proved yet. But GPU mining is already not profitable at all. May be it's not such a good point to sell it as it was 2-3 monthes ago. But buing new gpu or asic according current prices is totally insane. I don't know how to tell you this, but you are insanely wrong with part of that. With the 31 gpu's that I have, I mined various coins and traded for btc in the month of March. In the month of March, I ended up with 0.18337303 BTC. If I converted to fiat right now that would equate to $1315.70USD. My electrical costs (rigs and ventilation) for the month were approx $400USD. Do the math and tell me that isn't profit. I bought my gpu's last year at reasonable prices, not much over MSRP. Not all, but a large portion of my rigs are paid for, if I converted to fiat right now. I'm not converting to fiat at today's btc price (not even to cover electrical costs). I'm placing a bet and waiting. I'm not advocating that someone go out and pay insane gpu prices right now and start building a farm. But do not tell me that gpu mining (in my situation) is not profitable. Lol ... It would be insane for me to shut down my rigs right now and sell everything today. If you converted it. I have a lot of coins in runescape and if I'd convert them to fiat i'd be a millionaire, but i'm not gonna do it right now. I'm placing my bet and waiting. That just sounds like greed to me. Hopefully you've at least converted enough to fiat (just in case) to live the rest of your life in comfort. And then, place all of the bets that you want. I'm not in this to have lambo's, helicopters, and private jets. I don't care about any of that shit. My goal in this space (mining and investing) is to retire by 45-50, rather than working for the man until I'm 65 years old. If something way better comes out of it, so be it. I would probably donate a ton to charity, because I don't need to live an extravagant life style to be happy in life. |
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I can't get it how you're getting a loss with 6 cents of kWh electricity. Here, right now, I'm mining Ethereum with 10 cents of kWh electricity and ending up in a little profit (not in a loss though).  Would the OP mind sharing his GPU specifications right here instead of at the video? GPU's must be very outdated or something like that. Are you including rent for the facility and taxes for the gains earned? After adding these you should nearly be rekt in earnings. anybody could make a few cents per day after mining and brag they still profiting.. Such bums! LOL I don't pay rent for facility, because my mining rigs are in a space in my home (which is tax deductible) ... My electricity cost is 0.10kwh. If I hit a threshold, it comes down a little. Maybe 1-2 cents per kwh. You pay taxes on earned income, as if you were self employed. Your mining room is a deduction, your hardware costs are a deduction, your electricity is a deduction. I posted this in another thread, and I will post it again ... "I don't know how to tell you this, but you are insanely wrong with part of that. With the 31 gpu's that I have, I mined various coins and traded for btc in the month of March. In the month of March, I ended up with 0.18337303 BTC. If I converted to fiat right now that would equate to $1315.70USD. My electrical costs (rigs and ventilation) for the month were approx $400USD. Do the math and tell me that isn't profit. I bought my gpu's last year at reasonable prices, not much over MSRP. Not all, but a large portion of my rigs are paid for, if I converted to fiat right now. I'm not converting to fiat at today's btc price (not even to cover electrical costs). I'm placing a bet and waiting. I'm not advocating that someone go out and pay insane gpu prices right now and start building a farm. But do not tell me that gpu mining (in my situation) is not profitable. Lol ... It would be insane for me to shut down my rigs right now and sell everything today." |
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As expensive as mining hardware is AT THE MOMENT and as cheap as coins are AT THE MOMENT, my money is going directly into coins rather than mining hardware. I'm still mining with the hardware that I have, but I'm buying coins rather than more mining hardware right now.
That's it, totally agreed with this. At least we agree on something ... LOL. |
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I see day by day, ASICS of many coins are launching, individually or multiple. Chinese companies are trying to kill the GPU mining market once again cause they are greedy, just like they did to Bitcoin and Litecoin. GPU Mining died in 2013 and was resurrected in 2015 with the Cryptocoins Generation 2.0, although many of you miners just started mining on 2016 due to huge pumps on those 2.0 cryptocoins.
As Cryptocoins got more popular than in 2011 - 2013. The new generation of Cryptocoins 2015 and afterwards are endangered by ASICS once again, and 2018 looks to be the year of per the title "GPU mining will die in 2018!".
Keep in mind that there are possible ASICS for ethash already for Q1, and even if ETH goes POS, ETC and other ethash coins will be only ASICS and if that happens only Equihash coins will be minable for a time and I have a word that there is already an ASIC in development for Equihash already and will start delivering in Q4 2018. As GPU mining keep gets scarce, other popular coins will have pumps and so ASICS will be born for them.
I want to know your thoughts about it and I wonder the limits of --> "where, there is money to be made, there is greedy"
Keep in mind that this price crashing we are seeing is due also to the fear of ASICS for most GPU mining coins.
You've got the right point there and I'm looking forward to sell my GPU's as soon as possible due to that. Once Ethash & Equihash ASIC miners get released, we'll see a heck load of GPU's coming out on sale at literally half of price, so it's better to sell out now. The GPU mining can't be just vanished though, there'll always remain a few coins that can be mined through GPU's but their profitability? I think it'll be much lesser. Ethhash ASICs are not proved yet. But GPU mining is already not profitable at all. May be it's not such a good point to sell it as it was 2-3 monthes ago. But buing new gpu or asic according current prices is totally insane. I don't know how to tell you this, but you are insanely wrong with part of that. With the 31 gpu's that I have, I mined various coins and traded for btc in the month of March. In the month of March, I ended up with 0.18337303 BTC. If I converted to fiat right now that would equate to $1315.70USD. My electrical costs (rigs and ventilation) for the month were approx $400USD. Do the math and tell me that isn't profit. I bought my gpu's last year at reasonable prices, not much over MSRP. Not all, but a large portion of my rigs are paid for, if I converted to fiat right now. I'm not converting to fiat at today's btc price (not even to cover electrical costs). I'm placing a bet and waiting. I'm not advocating that someone go out and pay insane gpu prices right now and start building a farm. But do not tell me that gpu mining (in my situation) is not profitable. Lol ... It would be insane for me to shut down my rigs right now and sell everything today. |
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Can anyone tell me what is Proof of Stake?
Can anyone use Google? LOL some people are just too lazy to spend an extra 30 seconds on Google (or to type in this forum search box). If he's that lazy, he can give me his money, and I'll invest it into the proper coins for him. |
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As expensive as mining hardware is AT THE MOMENT and as cheap as coins are AT THE MOMENT, my money is going directly into coins rather than mining hardware. I'm still mining with the hardware that I have, but I'm buying coins rather than more mining hardware right now.
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Can anyone tell me what is Proof of Stake?
Can anyone use Google? |
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Sigh, it doesn't help when ethereum devs adding timebomb difficulty to make life harder.
Yeah, you should get out now. Get out while you still can. |
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I hope not, because after all the world of mining is very exciting. And in my opinion, did not die in 2018, but it's getting harder to mine it. That needs better settings and configurations, and what coins we will mine.  OH HAHAHAHA |
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i dont know what you guys are doing...im mining at 0,21ct(€) /kwh and earning still around 60-70% more than i pay...
one free advice the coins on whattomine are not profitable ..
I would like to take your advice, but you are you are actually advising against whattomine, but not advising to use anything in particular. Long story short: where do I find profitable coins to mine? Kind regards; Chris LOL ... |
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i feel sorry man, but that the way it is
I hope you have real job in order to compensate the loss of profits from mining.
cause know some people who decided they do not need job, and start to do the mining thing only, now they feel sorry about their decisions .
I think if he undervolt and underclock, it might be more profitable. But it might not worth the effort. Now the electric consumption of mining is very high.The mining transaction fee also reduced,So we will get less amount of coins.Now Mining is not more profitable one.Instead you can do bitcoin trading to get more profit. Consumption of electricity doesn't change unless YOU change it ... LOL ... What the fuck are you talking about? Maybe his rate changed and caused him to pay more, but how the fuck would the consumption of a rig change unless you YOU changed it? |
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Yeah for a minute or two.
May be yes may be no, we ll see. Thise bearish market can lasts for monthes. Or years. I'm only 34 years old though. I have a good 20 years that I'd be willing to wait. |
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I think I am late to the mining World but, is it still possible to still set-up a rig and still make profit?
Sure it is. But the ROI is much much longer. Actually ya don't understand what are you talking about. Right now we can see levels of zero profitability for those guys who already have the farms and whose electricity is very chip. Maybe if you're trying to mine with older gpu's. I don't mine with anything older than a 1070ti. Those are still profitable even at today's coin prices. I wouldn't buy any more of them even at msrp, but I'm not ready to sell them yet either. May be. Let's estimate. 1070 and 1070ti are the best ones now. They ' ll give you $0.5 profit per day on $0.06 kwt/h electricity from wall according what to mine coins. That's it. It is a profit still i agree. But zero profitability is very near. Ya can argue that there are some shitcoins with better perfomance. This hour or yesterday. May be. But it is not mining. you crazy..... I earn over $1/day on a 1070 on a long standing algo..... You must also take into account others' mining strategies may not be the same inside the box thinking that you are using. if you can max out a 10KwH generator on petrol; you can definitely be profitable. Food for thought. Damn but Petrol feels so politically wrong for me tho... like I'm Helping Maduro's Regime... It's politics don't even pay attention to what I just said. Trump gonna slap your hand, if you're in the USA. |
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I think I am late to the mining World but, is it still possible to still set-up a rig and still make profit?
Sure it is. But the ROI is much much longer. Actually ya don't understand what are you talking about. Right now we can see levels of zero profitability for those guys who already have the farms and whose electricity is very chip. Maybe if you're trying to mine with older gpu's. I don't mine with anything older than a 1070ti. Those are still profitable even at today's coin prices. I wouldn't buy any more of them even at msrp, but I'm not ready to sell them yet either. May be. Let's estimate. 1070 and 1070ti are the best ones now. They ' ll give you $0.5 profit per day on $0.06 kwt/h electricity from wall according what to mine coins. That's it. It is a profit still i agree. But zero profitability is very near. Ya can argue that there are some shitcoins with better perfomance. This hour or yesterday. May be. But it is not mining. you crazy..... I earn over $1/day on a 1070 on a long standing algo..... You must also take into account others' mining strategies may not be the same inside the box thinking that you are using. if you can max out a 10KwH generator on petrol; you can definitely be profitable. Food for thought. Yep it's near $1 per day (a bit less) if your electricity is free. I just cheсked it up. Otherwise it's a bullshit. Sorry you got burnt on gpu's or started mining at a bad time. Whatever the case is, I'm doing just fine and still happy with sub-par daily profit that I NEVER take compared to 4 months ago. I wouldn't start building a mining farm with an unknown outlook at this time, but I certainly won't quit mining with what I have. If you're currently mining ... Sell at 10X or GTFO. Not sure how you expect anything in crypto to be a stready climb up all of the time. Otherwise, buy almost any top ten coin at a super discounted price right now and hold. Or if that scares you, join a fucking bowling league. |
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I think I am late to the mining World but, is it still possible to still set-up a rig and still make profit?
Sure it is. But the ROI is much much longer. Actually ya don't understand what are you talking about. Right now we can see levels of zero profitability for those guys who already have the farms and whose electricity is very chip. Maybe if you're trying to mine with older gpu's. I don't mine with anything older than a 1070ti. Those are still profitable even at today's coin prices. I wouldn't buy any more of them even at msrp, but I'm not ready to sell them yet either. |
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