For current conditions, I stopped first for mining. the risk of electricity costs is a major factor in mining. I experienced it, electricity costs are very large while mining products do not increase because the crypto market value is not in a favorable condition.
did you sell your gear or are you keeping it and simply turned it off? |
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In winter, the profit increases slightly because you reduce heating costs. Rigs provides enough heat to heat nearby space. In addition, to reduce the cost of electricity, you need to reduce the consumption to a minimum, and undervolt the core of Rx 570 to 830-850 mV.
This is not necessarily true. It depends where you live. If you live in a cold climate and the main source of heat is by natural gas, then mining with electricity will not always offset your heating costs. In general using electricity to a main source of heat is not very efficient so many cold climates adapted to natural gas. And natural gas is usually capped in the winter so even if its -30C people can still afford to heat their homes. wrong again, I live in north dakota its cold as hell here and we use gas for heat and water but, ive turned. my gas off for two years now, 100 gpus easily actually overheats the house and fully powers my hybrid heat pump water heater, I run heat pump only mode , this year i used only 350khw on water heateing and i pay zero for house heating. I also hand dry everything perfect time to show us some sweet pictures of the setup  |
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If you guys believe in BTC, then mine whatever alt you are mining and sell for BTC and hold that BTC for months...years
If you guys believe in ETH, then mine ETH, and cold storage it and hold it for months...years
If there are some promising alts/token that can change the world, then sell some of your mined BTC or ETH and buy those tokens and hold for months...years
There were many cycles like this in the past. The true believer kepts mining at a loss or break-even just to accululate some coins and in the end it always paid off.
yup , those guys that kept mining dash and ltc and even vertcoin back in 2013 laugh at these posts I'm not here to hate on mining, just at my electric rate I would be better off simply buying most coins (currently) & I could sell my hardware for some change and dump that straight into any coins I want increasing my holdings w/ zero work after selling the gear VoskCoin your vids are spot on. Always seems to be the most relevant at the time. Can you comment on your buying coins argument with knowing in most cases people are buying them from an exchange and thus may not be as much of an anonymous transaction? When I'm mining to a crypto address using free email for instance with SMOS am I not in a roundabout way collecting coins that can't "easily" be traced to me as a taxpayer? Nobody really directly has been given my ID as if when using an exchange. If I have to pay a little in electricity cost isn't there some value to that? I know the blockchain isn't private and the transactions themselves in most cases can be traced to one another but it just seems a pretty difficult task for someone to go out of their way to find my front door. Nothing's impossible but in all the discussion I read so far no one seems to see value here. Before someone says it I'm not in it for criminal intent and I know that when you trade into anything else, crypto, fiat even goods and services you owe some taxes. Most times when you do that you've exposed yourself anyway. thanks my friend! I absolutely see huge value in what you're talking about, I think as far as "mainstream" miners go they do not care too much about this but I'm 100% behind it because its '"crypto" currency not digital currency right? lol I think that is one of the few selling points left for residential mining is seamless acquisition of coins that never go through an exchange. Also as you said its not because of "criminal intents" it is just nice to have some privacy in the digital age. Also you may like Cryptopia because you have withdraw about 3500 USD daily w/o uploading any form of ID |
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Even with 0.15$/Kwh I wasn't either. I was still 'racking' in like $15 per rig after the costs. But the time I had to spend diagnosing things wasn't worth it all. Sometimes a riser would malfunction others the pool would just temporary ban my rigs for not sending in enough shares. I had GTX 1070s in all of my rigs. It's just that I could do better things with my time than diagnosing different issues every other day. People as stupid as they are, they do not count things like that, if whattomine tell them they are making $0.15 per card they think they are making that, they are that stupid cause they might be probably negative -$0.30 per card, your hashrate is never 100%, sometimes is not even 80% real, if you have 1000mh's, your true hashrate is 25% less in the pool + risers and other things that you need to spend for everything to be functioning. The truth is, if 1 x gpu is making you less than $0.60 after electricity costs then forget mining, is time to buy coins instead. I do think people take WTM values way too literally, as you said you could be making less . . or you could be making more However some factors people always forget or like to leave out are --- you running these inside your home? how is that impacting your AC? Sure it can save you on heat some, but as someone who did that all last winter -- its difficult to do without getting hot/cold spots depending on your home. I do think as far as heating goes it is perfect for a garage esp. w/ an uninsulated door as it'll bring the overall temp up to a nice area But anyway my point was just that there are variations / luck + cooling cost of home and/or supplemental equipment like exhaust fans + the incredible time sink it is once a rig goes down, or even deploying a rig just to make a couple dollars a day with hardware that cost a couple thousand. Disclaimer I do not mean to sound so negative, obviously I love mining and a huge fan of it -- but personally for me, GPU mining doesn't bring me in enough value w/ my setup / electric rate and these current low crypto prices. |
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Yes it might be profitable at $0.10/kwh but to what extent?
When 80% of all your profit is going to electricity is it really worth mining?
I did the calculation and most have the RX 470/570 which uses like 130 Watts so at $0.10/kwh you make about $0.12/day.
However after fees, bank fees, errors, GPU downtime, etc you probably end up making a nickel per GPU. Is it really worth mining for that much?
this essentially sums it up, & this number will vary for everyone but at some point it simply does not make sense to invest the time and money into mining --- For many it is still a lucrative endeavor, or perhaps speculation mining is allowing you to still do very well --- however the overall bad health of crypto mining profitability cannot be ignored. Are you guys fair weather miners? I'm in it if i'm making 5 cents per card a day because i have FAITH that crypto will emerge stronger in the future. If you have the equipment and you are not mining at even a 1 cent profit i don't get it. I get it at a loss, i guess (even though i still mine at a loss sometimes) but even at a 1 cent profit IF you have the equipment it's worth the risk in my opinion if you have the ability to keep the coin at these prices. If you have to sell it to pay your bills, then I get it i guess, but then you probably should not have been mining in the first place because that's in essence like living check to check. That's my view anyway. PS Solar is retarded.  I just want to come over, smash some blocks and grill steaks my man! dagarair - source : https://bitcointalk.org/index.php?topic=4789787.msg43227027#msg43227027 |
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I'm just glad I invested my profits from last year into solar.
My L3+s get started at sunrise and shut down at sunset.
My other gpus rigs are the same.
Costs me sweet stuff all in electricity and I'm still getting some sort of profit out of them.
Plus I'll still have something for when profitability goes up.
I do the same thing with my solar if it's a bad day for the sun like mostly rain and no SUN i don't turn mine on ,I know it works on rainy days or during most any light of day but on the weak days, i take a break . . with the winter coming it should work even better , less light because of shorter days means less mining but more back to the power company. if Vos was indeed making 4k a day a week or month or whatever why didn't he take at least 15k of that and invest into solar. his system would be paid for with Rebates and tax credits on his house, were he lived in the pictures Ive seen, his house can support solar .. he must have thought it was going to last lol. Solar is not the amazing investment many people make it out to be -- do you personally run solar? & if so to support how many rigs (power)? I'm not interested in keeping my house for more than another year or two max --- so anyway you cut it solar was never the right decision for me |
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If you still want to support the Bitcoin network you should try and run a node at least.
Uses pretty much no electricity and keeps bitcoin decentralized. Depending what country you are in and what your bandwidth costs are it might be benefitial.
Yes you don't get paid anything to run a node but at least you can keep supporting the network.
I think this is great advice and one of my goals by year end is to get some nodes up (no profit nodes) to support some of the coins I like / want to see do well -- BTC being one of them |
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you are only finding this out now???
i guess you have been squeezing as much click bate youtube money you could.
going from 1 video with pros and a short time later to this is crazy bro.
sell more shirts.
lol.. mans gotta eat, let him earn whatever chipotle burrito he can get. +1 for Tails thanks for the +1 luno lol & hiphoptrail you feel good now? I hope your life gets better man, because if someone trying to create quality cryptocurrency content to do my small part in moving this sector forward bothers you . . IDK what to tell ya! There's a difference between my as least bias as possible view vs what I will do with my personal mining farm. |
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Yes it might be profitable at $0.10/kwh but to what extent?
When 80% of all your profit is going to electricity is it really worth mining?
I did the calculation and most have the RX 470/570 which uses like 130 Watts so at $0.10/kwh you make about $0.12/day.
However after fees, bank fees, errors, GPU downtime, etc you probably end up making a nickel per GPU. Is it really worth mining for that much?
this essentially sums it up, & this number will vary for everyone but at some point it simply does not make sense to invest the time and money into mining --- For many it is still a lucrative endeavor, or perhaps speculation mining is allowing you to still do very well --- however the overall bad health of crypto mining profitability cannot be ignored. |
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Next month will get worse, eth is reducing the reward, so expect all the coins to follow.
Agreed, not trying to be negative lately but this will really slap some people in the face lol |
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I think it's time Vosk. It's time. Time to walk up to your old boss, let him know you got rekt in crypto and beg for your old job back.  You'll leave crypto before I do |
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If you guys believe in BTC, then mine whatever alt you are mining and sell for BTC and hold that BTC for months...years
If you guys believe in ETH, then mine ETH, and cold storage it and hold it for months...years
If there are some promising alts/token that can change the world, then sell some of your mined BTC or ETH and buy those tokens and hold for months...years
There were many cycles like this in the past. The true believer kepts mining at a loss or break-even just to accululate some coins and in the end it always paid off.
yup , those guys that kept mining dash and ltc and even vertcoin back in 2013 laugh at these posts I'm not here to hate on mining, just at my electric rate I would be better off simply buying most coins (currently) & I could sell my hardware for some change and dump that straight into any coins I want increasing my holdings w/ zero work after selling the gear |
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One year ago today my cryptocurrency mining farm was earning $4000 dollars after I paid my electric bill whereas now I am LOSING money monthly. Antminer On Amazon - http://geni.us/TSS6jhttps://www.youtube.com/watch?v=ukoGzDfYZRE VoskCoin Gear - https://teespring.com/stores/voskcoinI am a huge advocate of cryptocurrency mining and especially GPU mining however mining at a medium scale out of my own house paying residential electric rates no longer makes any sense or cents. I am selling the majority of my GPU mining rigs, and do not have many ASIC miners (most are here for the purpose of reviewing them) currently. I will continue to explore unique avenues of mining such as HDD mining, CPU mining, FPGA mining, and devices like the SkyCoin Miner. Because I have the infrastructure in place whenever a very profitable miner comes available whether it is a new graphics card or a new ASIC miner, I will deploy them in my crypto mining shed. Mining Rig Parts IN STOCK on Amazon - http://geni.us/WQd7cCsVoskCoin Patreon - https://www.patreon.com/VoskCoin
VoskCoin Facebook - https://www.facebook.com/VoskCoin/
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VoskCoin Twitter - https://twitter.com/VoskCoin
VoskCoin Instagram - https://www.instagram.com/voskcoin/
VoskCoin Official Donation Addresses, support appreciated!
BTC - 12PsgKuhcJrEqJbD3oMN7rcEcuyqyqRznL
ETH - 0xDEe6A2ae293F8C58Ef71649658344BbF382b6e70
ZEC - t1ZoVF5t75NahSAfuwpcyHA8uzkPyocXpJZ
ZEN - znb1iNFP6VctF2AhXLXtMsSjP7emvYDmeXR
Loki -
LScbLXmws9RA4SXVz5GhGm3N2YfKShw6MQGeyAjYc3bE5nYHUw3UUWxgKGN8kCnWQkfZEGN1PBxX7Zk y3aVJSpGxTZTuDLB
XMR - 484HoyS4h2fenvLKQkuUV7FwnJaGK8LMX43tiJ3UZdVU53d2MxFiQ1jbSfyorsXZVs1SvoPVh4nipjd 7b4GVgFGmCgygdpV
Doge - DHgX7vJjBsmYcB1GgubGtu3TVJkqQgCG6B
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Can you still make money mining cryptocurrency at your own home? Buy your own Mining Rig parts on Amazon - http://geni.us/CujsiXhttps://www.youtube.com/watch?v=nLkbVWbddcM One of the top questions I receive is if it is still profitable to mine cryptocurrency and if crypto mining is still one of my main sources of income. Unfortunately cryptocurrency mining has gained the interest of a lot of big players with a lot of money. . and with that that entire cryptocurrency mining ecosystem continues to change. Today I breakdown my electric bill and compare it to what I was paying to mine crypto last year. Your electric rate will have a massive impact on whether or not cryptocurrency mining will be profitable for you. No matter if you are mining Bitcoin, Ethereum, Litecoin, or perhaps Aion / Loki / Ethereum Classic like me -- the biggest factor when determining if and what you should mine in a bear market will be influenced by your electric rate. My electric rate last year was effectively 10 cents per kWh (kilowatt hour) and with the hike / introduction of a higher summer electric rate for me, my electric rate increased to almost 14 cents per kWh. Lets breakdown my crypto mining profitability, and how the increase in my electric rate impacted my overall earnings / profitability / ROI much more than many expected. Links discussed in todays Crypto Mining Video Loki Network Crypto Coin to USD - http://bit.ly/2CAO1VuWhat To Mine Profit Calc. 5x RX 570 Rig - http://bit.ly/2pMnrAkAion Network Coin Mining Profit Calc - http://bit.ly/2E7VPzuAion Network Crypto to USD CoinGecko - http://bit.ly/2A9oFxC12x Rx 570 Mining Rig Profitability - http://bit.ly/2y6Vzva8x Nvidia 1070 TI Mining Rig Profits - http://bit.ly/2yahbHbMining Rig Parts IN STOCK on Amazon - http://geni.us/WQd7cCsVoskCoin Patreon - https://www.patreon.com/VoskCoin
VoskCoin Facebook - https://www.facebook.com/VoskCoin/
VoskCoin Reddit - https://www.reddit.com/r/voskcoin/
VoskCoin Discord Server Invite - https://discord.gg/FGGmS2z
VoskCoin Twitter - https://twitter.com/VoskCoin
VoskCoin Instagram - https://www.instagram.com/voskcoin/
VoskCoin Official Donation Addresses, support appreciated!
BTC - 12PsgKuhcJrEqJbD3oMN7rcEcuyqyqRznL
ETH - 0xDEe6A2ae293F8C58Ef71649658344BbF382b6e70
ZEC - t1ZoVF5t75NahSAfuwpcyHA8uzkPyocXpJZ
ZEN - znb1iNFP6VctF2AhXLXtMsSjP7emvYDmeXR
Loki -
LScbLXmws9RA4SXVz5GhGm3N2YfKShw6MQGeyAjYc3bE5nYHUw3UUWxgKGN8kCnWQkfZEGN1PBxX7Zk y3aVJSpGxTZTuDLB
XMR - 484HoyS4h2fenvLKQkuUV7FwnJaGK8LMX43tiJ3UZdVU53d2MxFiQ1jbSfyorsXZVs1SvoPVh4nipjd 7b4GVgFGmCgygdpV
Doge - DHgX7vJjBsmYcB1GgubGtu3TVJkqQgCG6B
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Anyone try this coin out with the new nvidia cards?
Interested in this ^ Also is who's still mining this / with what / whats your profitability looking like? Was pretty difficult to trade out of BTM as a US citizen |
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Good post bro.... loose the music thanks man All together or you think it was too loud? A lot of research I've read stated that music promotes increased watch time -> and thats the main metric YT uses to rank / suggest your video to more viewers |
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Glad my reddit username could make a cameo in the video  haha more than deserved mate |
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