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BTCBinary (OP)
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December 04, 2015, 04:19:52 AM |
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I was wondering if ethereum mining is still profitable. So what do you say?
Is it still profitable to mine ethereum with GPUs and CPUs?
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peteycamey
Legendary
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Activity: 1184
Merit: 1017
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December 04, 2015, 04:33:18 AM |
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as the diff rising fast, profitability is decreasing.
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Rastadon
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December 04, 2015, 09:14:29 AM |
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If you pay $0.1/kWh for your electricity, it is not profitable to mine Ethereum. If you consider the cost of your hardware, the electricity price would be $0.05.
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wildduck
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Activity: 966
Merit: 1001
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December 04, 2015, 12:58:56 PM |
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For me it is on the margin.
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Bokelka
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December 04, 2015, 04:38:01 PM |
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For me it is on the margin.
What is your electricity price? What is the power consumption for your miner? It is quite difficult to mine Ethereum profitably now. |
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wildduck
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Activity: 966
Merit: 1001
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December 04, 2015, 09:04:08 PM |
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I have 2 rigs with 8 r9 280x and my monthly bill is 70 euros, I mine around twice that much.
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Luwonder
Jr. Member
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Activity: 62
Merit: 6
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December 05, 2015, 07:24:49 AM |
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I have 2 rigs with 8 r9 280x and my monthly bill is 70 euros, I mine around twice that much.
1 280x is about 180W, 8x280x = 1440W or 34.6 units a day. You electricity bill is 2.3 euro per day, so the unit cost is 0.067 euro per kWh. That is very cheap. |
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bctmke
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December 09, 2015, 04:26:34 PM |
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Yes it really depends on your rig and power costs.
It's getting very close to not being profitable. Obviously that can change as the price changes.
But difficulty is just increasing too steadily.
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Fappanu
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December 10, 2015, 08:39:34 AM |
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The Ethereum price has dropped a bit from $1 to $0.8 recently. The hash rate is rising slowly. So it is not profitable for most high electricity price users.
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bctmke
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December 20, 2015, 05:09:49 PM |
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If you followed it you'd have an account created within geth. You can type "geth account list" to see your account You can then take that account # (starting with 0x) Then do "geth console" give it a few minutes. Once its settled you can enter web3.eth.getBalance(account# from earlier) and it should show you what you have. |
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peteycamey
Legendary
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Activity: 1184
Merit: 1017
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December 20, 2015, 07:15:04 PM |
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very soon it will not be profitable even for cheap electricity users.
diff from 7k to 8.7k in just a few days.
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Zivdafast
Newbie
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Merit: 0
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December 21, 2015, 10:54:06 AM |
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The Genesis Mining has come to the Ethereum mining. The difficulty has risen too much. It will soon be unprofitable for most people.
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Deus667
Newbie
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January 06, 2016, 10:12:14 PM |
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Shouldn't the Ethereum algo block or limit high intensity users so that no 1 big poweruser can take over?
Or am I wrong?
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Bokelka
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January 10, 2016, 02:43:15 PM |
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Shouldn't the Ethereum algo block or limit high intensity users so that no 1 big poweruser can take over?
Or am I wrong?
It is not the high intensity miners, it is the pools. Two pools have over 50% of total hashing power at the moment. |
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astrocity1981
Sr. Member
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Activity: 343
Merit: 254
From The New World
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January 11, 2016, 05:52:26 PM |
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I was gonna mine Ethereum for fun but a lot of steps are involoved in setting it up. I don't have a programming background so I just gave up. I do like the idea behind Ethereum.
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Zaducis
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January 11, 2016, 08:59:11 PM |
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I was gonna mine Ethereum for fun but a lot of steps are involoved in setting it up. I don't have a programming background so I just gave up. I do like the idea behind Ethereum.
If you run windows, the process is not complicated. It is similar to other altcoin mining. You just need to follow the steps. |
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Zivdafast
Newbie
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January 14, 2016, 09:20:43 AM |
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The price of Ethereum has risen steadily recently. So the mining is more profitable now. Much better than a few months ago.
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vileygroun
Newbie
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January 15, 2016, 09:34:45 AM |
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Considering certain factors, you can decide to mine ethereum or not. Ethereum is being hugely traded on different exchanges. The value may rise soon. However prediction is just for prediction only. It will not be related to mining.
The factors you may think about is
1. Electricity cost, if you're going with free electricity or solar like energy systems, you can save a lot of money. So it will be profitable.
2. Difficulty and your hardware means your rigs capacity. If you have a farm of rigs, you can beat the difficulty and make much more coins.
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