I did do some homework. There is a lot of variables, and people quote different hash rates with the same setups, etc, not really as black and white as "do the math" I've done research, and looked at tools like whattomine.com but just asking people with real world experience.
Didn't know starting a conversation on a forum were grounds to get shit on, isn't the point of a forum to help each other? Yes i'm just some stupid noob asking dumb questions, but useless replies contribute even less.
You didn't get shit on, but when the same basic things are getting asked multiple times a day by the massive influx of new miners instead of them just using google, it does get annoying.
The original question in the title implies you have zero idea about power costs and profitability while whattomine have presets for different cards showing you both your revenue and profit. Playing with the electricity cost you'd see that you would have to pay $1.5 per kWh to just cover the electricity without profits (with RX 480).
Point taken, i'll consider that in the future. I should of done a bit more lurking before starting a new thread if its been asked a bunch of times.
You will have some profit excluding the electricity cost, but in mining there are only two ways to avoid electricity cost
1- Using electricity for free ( that is offcourse illelegal and do not try this)
2- Use solar energy
First point is of no use and illegal. But you can use Solar electricity for mining. You will require some of the solar panel according to your mining hardware but you can get it cheaper than your annual electricity bill.
In my region(India) we get some consession for purchasing Solar panel (known as subsidy). You can check such government scheme for your region.
Using a solar panel for mining is a good idea but is a bit hard to implement. If you are successfull in setting up solar panel, you will have much profit in mining.
I've done some research into this too, most people on solar panel forums seem to think that its actually more expensive to use solar panels because of the initial cost and regularly replacing batteries, but of course that was probably based on their own electric cost, which was entirely off the grid. Yes we get some kind kickback for having solar panels installed. I haven't found too much info on only installing enough panels to power just the mining rig. My entire house would be something like 20-30k though.
I did do some homework. There is a lot of variables, and people quote different hash rates with the same setups, etc, not really as black and white as "do the math" I've done research, and looked at tools like whattomine.com but just asking people with real world experience.
Didn't know starting a conversation on a forum were grounds to get shit on, isn't the point of a forum to help each other? Yes i'm just some stupid noob asking dumb questions, but useless replies contribute even less.
There is no exact calculation exist ...There is no " black and white " What you calculating today that going to be different tomorrow. members talking about different hashrate , bc they are modding they bios , or properly overclocking/undervolting they VGA cards , some of us using 4gb cards some of us 8 gb cards.
No one can tell you how much power your system going to draw at the wall , we need to know what psu ( max wattage / efficiency ) are u using , cpu , mem , hdd or ssd vga cards .
So yes ! you need to do your own research ... If you dont know why members reporting different hashrate for the same model vga cards , you did not do any serious research
"I know you have to consider increase of coin value in the future "
Oh yes , but dont forget about the mining difficulty
If the current coin price form 100$ going up 110$ but the difficulty doubled , tripled , you going to make much , much less money per months ...
So yes ! you need to do your own research Yes, naturally i will keep doing research. Good to talk to people for stuff not considered, and their own insights though. Thank you, wasn't thinking much about mining difficulty.
So does anyone have any idea about the electric deduction as a business expense in the US?
