start earning mining?

[Neennig]

Hello everybody. Who will answer this question - how much money do you need to invest now in order to start earning mining? It is clear that you will not start with a few videotates. Therefore, I want to understand the budget for this type of earnings. Thanks in advance for the tips

[markiz73]

What do you possess at the moment?
Do you have a mining room? What is the limit of electricity consumed by your premises?
Do you have a team that will serve mining equipment?
What is the price of electricity for you?
What profit is acceptable for you?

[swogerino]

At the moment it is not a good thing to start mining in general, at least with graphic cards rigs. The reason for that is that difficulty for Ethereum has increased a lot, the price has decreased a lot, so you will barely pay the rig energy by mining with graphic cards. Only Rx Vega 64 are a "medium good option" as they are still profitable but building a rig with them will cost you more money than building the rig with normal Rx 570/580 cards.

[leowonderful]

Depends how much you're willing to spend, how much risk you're willing to take and how much you're looking to make in profit. You can start mining with a single RX 470 4GB card and a basic rig for a few hundred dollars, though you won't be making much and it'll take you quite some time to even break even (over a year), or you can try with a bigger rig with more GPUs that costs more, still takes as long to break even, but you get more profit once you get past breaking even. The mining environment at this point in time isn't that great, with most cards making less than $0.5/day before electrical costs, so I actually wouldn't invest too much at this point in time if you do choose to invest in parts and video cards for mining.

[Raja_MBZ]

First of all, have a nice look at your Electric Bill and observe the price per kWh (unit). If it's anywhere above US$0.15, I'd suggest you to completely stay away from mining and don't bother to even think of it.

Right now, it'd be wise to start mining only if you have an access to very cheap electricity (~$0.05/kWh). Before advising you anything at all, I'm interested in knowing about your power rate (rather than your budget).

[markiz73]

At the moment it is not a good thing to start mining in general, at least with graphic cards rigs. The reason for that is that difficulty for Ethereum has increased a lot, the price has decreased a lot, so you will barely pay the rig energy by mining with graphic cards. Only Rx Vega 64 are a "medium good option" as they are still profitable but building a rig with them will cost you more money than building the rig with normal Rx 570/580 cards.

What do you think that will come first? These video cards will pay back the investment or the ether will change the algorithm to POS.
Vitalik is of course a loudmouth, and we may not see a change of the algorithm in 2019, but the reward for the block can be reduced.

[swogerino]

At the moment it is not a good thing to start mining in general, at least with graphic cards rigs. The reason for that is that difficulty for Ethereum has increased a lot, the price has decreased a lot, so you will barely pay the rig energy by mining with graphic cards. Only Rx Vega 64 are a "medium good option" as they are still profitable but building a rig with them will cost you more money than building the rig with normal Rx 570/580 cards.

What do you think that will come first? These video cards will pay back the investment or the ether will change the algorithm to POS.
Vitalik is of course a loudmouth, and we may not see a change of the algorithm in 2019, but the reward for the block can be reduced.

With these cards it is a sure thing that Ether will go to POS before you get your investment back taking into consideration the same conditions, the bitcoin price to remain the same and mining reward to go down little by little after every few days or every few weeks.

The cards will pay off before Ether goes to POS only if Bitcoin price goes 15.000 dollars or more.