Hi I asked this question in another thread but didnt get any real answer. I am trying to figure out is it really feasible to mine monero? I mean, even if you dont pay for electricity, help me understand the point of spending money on hardware that at the most will get you 1500 h/s per video card? Thats like what? $15 per week per video card? Video cards are expensive. Even if you rent a server with a fast cpu that will get you 850 h/s thats still only $9 USD per week. How is it worth dedicating hardware to mine these coins? If you cant set up a rig for fairly cheap by renting or scavenging parts, I dont see how you can make at least $300USD per week mining coins for a profit. Am I missing something? Why are you guys mining for less then $75 per week?
profit is not the only reason for mining. securing the network is.
however, here is an example: I've purchased a rig with 5 RX480 cards hashing with ~775h/s each. that's ~0.9XMR/Day on average mining income. so assuming difficulty will not explode in the next few months, that's 27 XMR/month mining income, which currently translate to ~180 usd/month. Electricity clocks in with about 35 usd/month for me. So 150usd worth of coin per month profit if I would sell them off right away (which I don't).
For the rig which consists of 2 new and 3 used cards, a new PSU and some scavanged parts, I paid ~1400usd. So to ROI the rig would have to run for at least a year.... or does it? What I did in the past when it was still profitable to mine BTC and LTC with GPUs: I ran the rigs for half a year and then sold the cards off to gamers and bought next gen cards. that's why I always buy current cards and keep away from older models. they keep their value.
If I would sell the cards in 3 months, I would at least get 200usd/card, reducing my investment to 400usd, having minded 450usd of coin
tl;dr;
you are missing that a) GPUs hold their value and can be sold off to recover initial invest b) instead of selling mined coin at current rates you could speculate that XMR will rise over the next few months, multiplying your profit c) mining is not always about profit
Ok I see what you are saying, its like when I first started thinking of buying bitcoins they were only $32 each. Now I kick myself in the ass that I didnt stock up on them since they are at $630+ each one.....Its a shame, when I first started researching this, XMR was around $13 a coin, now its only about $6. What the hell is going on? Its not making it easier thats for sure.
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