Losing money is fun!!!

[n01d3x]

After lurking for a while, 2 months ago I decided to build a mining rig. I knew mining bitcoin with gpus was out, so I went with litecoin. I built a 5x 7950 rig. A few years back I ran a 1000 watt hps 12 hours a day and didn't notice much difference in my electric bill. I knew with this rig it would go up, and I finally got my first full bill! Needless to say I have since sold everything and at a pretty good size loss. So if you're thinking of gpu mining any coin and you pay any rate for power DO NOT DO IT!! Losing money that fast was a nice expensive lesson to research everything thoroughly before spending a dime!

[firstlast]

I would have saved one 7950 to play games with. That's a nice GPU.

[ElectricMucus]

Watching people lose money is even funnier.

[Athanasios Motok]

You bought experience.

That is a good one.

[zemario]

Respect for talking about it without bullshit. All the people here bragging about their baddass mining rigs, with ASICs bought for a small fortune, I wonder which percentage of them even break even. 10%??? Even the ones that hang around in the forums posting pictures and whatnot.

Look at it this way: you did, it was stupid, but you learn your lesson by your mistakes. as pointed by other, you still got a whole lot more than those that prefer to think that they may eventually make a ton of easy money, and end up loosing money all the time.

[n01d3x]

Crypto mining has humbled me greatly and I have no problem admitting it. It was fun playing the game while I did. I am not really upset about it because I followed the rule of not investing money I was scared to lose. And yes, as bas as it sucks, I don't see much difference between my lose and the huge amounts of people who preordered bfls forever ago. Not that it helps me in any way. I also have no problem with it being funnier watching me lose money. When I saw my power bill I about cried in laughter. The whole ordeal was very comical to me. Thinking about how much I could make and stuff. Then BAM!!! Reality owned me.

[flipper]

Finding a place where you can run your gpu rig with free electricity (at work, dorm) is about the only option that makes roi sense these days.

[r3wt]

well i bought two block eruptors. in one week of near continuous operation(i stop them and let them cool usually once a day) i've managed to pull in .1 btc. will i ever meet roi of ~180 invested? probably not. is it worth it to me? hell yeah man, i love these little things. they're just so... cool.

[n01d3x]

Ironic that you posted in here r3wt. After I saw my bill I mined J-Coin for about a day before I shut the rig down. Haha

[r3wt]

Ironic that you posted in here r3wt. After I saw my bill I mined J-Coin for about a day before I shut the rig down. Haha

lol, really? any luck? post your j-coin address. i'll send you some freebies

[Anduck]

Yeah guys.. The mining of coins is already and soon gets even lower profit hobby for non-pros. Easiest way to get coins is to trade.

[worldinacoin]

After lurking for a while, 2 months ago I decided to build a mining rig. I knew mining bitcoin with gpus was out, so I went with litecoin. I built a 5x 7950 rig. A few years back I ran a 1000 watt hps 12 hours a day and didn't notice much difference in my electric bill. I knew with this rig it would go up, and I finally got my first full bill! Needless to say I have since sold everything and at a pretty good size loss. So if you're thinking of gpu mining any coin and you pay any rate for power DO NOT DO IT!! Losing money that fast was a nice expensive lesson to research everything thoroughly before spending a dime!

Mind giving us a hint on the size of your electricity bills?

[n01d3x]

Total was about $650 and I was running 4 cards for around 2 weeks, all 5 for maybe 2 weeks. That's probably around $400 more than normal. I pay around .30 kwh. Thanks for the offer r3wt, but I'm just going to sell the jcoins for btc at some point. I did pretty good, I have a little over 100.

[r3wt]

Total was about $650 and I was running 4 cards for around 2 weeks, all 5 for maybe 2 weeks. That's probably around $400 more than normal. I pay around .30 kwh. Thanks for the offer r3wt, but I'm just going to sell the jcoins for btc at some point. I did pretty good, I have a little over 100.

wow, lol you've got more than me. props

[worldinacoin]

Total was about $650 and I was running 4 cards for around 2 weeks, all 5 for maybe 2 weeks. That's probably around $400 more than normal. I pay around .30 kwh. Thanks for the offer r3wt, but I'm just going to sell the jcoins for btc at some point. I did pretty good, I have a little over 100.

That's a lot of money! I would have just rent a space in a nearby datacenter and use the electricity (make sure it comes with the rack and is unmetered), will be 1/2 price or even lower.

[Bfljosh]

I don't pay for power. A 7950 pays itself back pretty fast.

[mlyckoX]

You can still mine altcoins with GPU.

[freedomno1]

Shoot 30 cents a kWh no wonder props.

[imabauss]

Thanks for posting this!
While losing money is no fun...
Other members can learn from what you did!

[Amph]

You can still mine altcoins with GPU.

they are unprofitable already, unless you mine coin with 600%+++ profit