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Cyaren
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May 21, 2016, 06:45:28 AM |
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A very nice informative post.
To me, it is entirely undesirable to enter the mining market at any time now. The cost of electricity is pretty damn high here in Australia, and also I'm just not bothered to keep up with the miners myself.
Keep in mind that ETH can crash at any given moment. There is no guarantee.
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frostminer
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May 21, 2016, 07:22:38 AM |
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A very nice informative post.
To me, it is entirely undesirable to enter the mining market at any time now. The cost of electricity is pretty damn high here in Australia, and also I'm just not bothered to keep up with the miners myself.
Keep in mind that ETH can crash at any given moment. There is no guarantee.
You read the posts? If eth is removed, there are still plenty of coins waaaaay above el-price profitability. Read the posts on the previous page. Whats the price at you place? Go to https://www.whattomine.com/coinsType 100 Mh at ETH. Type in 1200ish Watt. Edit el price. What do you get on daily cost and daily profit? My 100mh rigs has to use 6800 WATTS compared to 1200 to be non profitable. (meaning the el price must go up 560% .. by then we'll all be homeless here) And thats with default el price on the site... which is pretty high imo. |
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adaseb (OP)
Legendary
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Activity: 3794
Merit: 1723
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May 21, 2016, 07:38:28 AM |
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A very nice informative post.
To me, it is entirely undesirable to enter the mining market at any time now. The cost of electricity is pretty damn high here in Australia, and also I'm just not bothered to keep up with the miners myself.
Keep in mind that ETH can crash at any given moment. There is no guarantee.
You read the posts? If eth is removed, there are still plenty of coins waaaaay above el-price profitability. Read the posts on the previous page. Whats the price at you place? Go to https://www.whattomine.com/coinsType 100 Mh at ETH. Type in 1200ish Watt. Edit el price. What do you get on daily cost and daily profit? My 100mh rigs has to use 6800 WATTS compared to 1200 to be non profitable. (meaning the el price must go up 560% .. by then we'll all be homeless here) And thats with default el price on the site... which is pretty high imo. You don't seem to understand. Read this [/quote] The problem is those other coins do not have strong enough market caps to soak up all the gpu mining. So when ETH plans to go POS and assuming it has good profit up to that point the miners will point their hash to all the other coins making the difficulty too high for decent profit. If one of coins hit it big then mining could continue, also if you have a big stack of coins in one them and they hit big market caps, you'll be pretty wealthy. [/quote] |
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frostminer
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May 21, 2016, 08:08:57 AM |
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A very nice informative post.
To me, it is entirely undesirable to enter the mining market at any time now. The cost of electricity is pretty damn high here in Australia, and also I'm just not bothered to keep up with the miners myself.
Keep in mind that ETH can crash at any given moment. There is no guarantee.
You read the posts? If eth is removed, there are still plenty of coins waaaaay above el-price profitability. Read the posts on the previous page. Whats the price at you place? Go to https://www.whattomine.com/coinsType 100 Mh at ETH. Type in 1200ish Watt. Edit el price. What do you get on daily cost and daily profit? My 100mh rigs has to use 6800 WATTS compared to 1200 to be non profitable. (meaning the el price must go up 560% .. by then we'll all be homeless here) And thats with default el price on the site... which is pretty high imo. You don't seem to understand. Read this The problem is those other coins do not have strong enough market caps to soak up all the gpu mining. So when ETH plans to go POS and assuming it has good profit up to that point the miners will point their hash to all the other coins making the difficulty too high for decent profit. If one of coins hit it big then mining could continue, also if you have a big stack of coins in one them and they hit big market caps, you'll be pretty wealthy. [/quote] [/quote] That is a valid point. But i do believe it will adjust, and new actors will appear. But it is a risk game, and always will be. If done right, you shouldnt lose anything. ROI has been so good that most miners should be way in the green by now. |
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adaseb (OP)
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May 21, 2016, 08:17:17 AM |
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We are not saying you will lose money. Even the ones with the highest electricity should have most of their rigs paid off.
Problem is these profits simply won't last. Been mining for years and these are record daily profits I am making mining.
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Hahnatise
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May 21, 2016, 08:21:20 AM |
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We are not saying you will lose money. Even the ones with the highest electricity should have most of their rigs paid off.
Problem is these profits simply won't last. Been mining for years and these are record daily profits I am making mining.
That is right. In 2013 and 2014 for a few months, it was very profitable to mine Dodge, but that did not last. |
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Amph
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May 21, 2016, 08:27:29 AM |
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We are not saying you will lose money. Even the ones with the highest electricity should have most of their rigs paid off.
Problem is these profits simply won't last. Been mining for years and these are record daily profits I am making mining.
That is right. In 2013 and 2014 for a few months, it was very profitable to mine Dodge, but that did not last. doge at early stage was more profitable than anything else, i was doing million a day with one gpu only, and 1M was then worth 200 satoshi just do the math, just do it....not even ethereum can dream of such profit |
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Zemomtum
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CitizenFinance.io
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May 21, 2016, 10:34:07 AM |
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We are not saying you will lose money. Even the ones with the highest electricity should have most of their rigs paid off.
Problem is these profits simply won't last. Been mining for years and these are record daily profits I am making mining.
That is right. In 2013 and 2014 for a few months, it was very profitable to mine Dodge, but that did not last. doge at early stage was more profitable than anything else, i was doing million a day with one gpu only, and 1M was then worth 200 satoshi just do the math, just do it....not even ethereum can dream of such profit That was 2 bitcoins a day for one GPU. That is really profitable. I wonder if there will any coin as profitable. |
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bugsywugsy
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May 21, 2016, 08:13:02 PM |
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GPUs are very expensive, and mining pools aren't very profitable. Summer is coming, and a lot of people are about to find out just how much heat these things produce.
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limbaugh
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May 21, 2016, 09:07:53 PM |
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GPUs are very expensive, and mining pools aren't very profitable. Summer is coming, and a lot of people are about to find out just how much heat these things produce.
I love when new miners are shocked about their power bill. You will never compete against people who operate next to a dam or some other scheme to get cheap power. It is just not feasible for home miners anymore and most likely will never be again. Buy coins - don't mine. |
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adaseb (OP)
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May 22, 2016, 02:15:14 AM |
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We are not saying you will lose money. Even the ones with the highest electricity should have most of their rigs paid off.
Problem is these profits simply won't last. Been mining for years and these are record daily profits I am making mining.
That is right. In 2013 and 2014 for a few months, it was very profitable to mine Dodge, but that did not last. doge at early stage was more profitable than anything else, i was doing million a day with one gpu only, and 1M was then worth 200 satoshi just do the math, just do it....not even ethereum can dream of such profit There is no way you made $2000 per day mining DOGE with one GPU. I remember it was more like $10/day with a 280X. |
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Amph
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May 22, 2016, 06:41:15 AM |
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We are not saying you will lose money. Even the ones with the highest electricity should have most of their rigs paid off.
Problem is these profits simply won't last. Been mining for years and these are record daily profits I am making mining.
That is right. In 2013 and 2014 for a few months, it was very profitable to mine Dodge, but that did not last. doge at early stage was more profitable than anything else, i was doing million a day with one gpu only, and 1M was then worth 200 satoshi just do the math, just do it....not even ethereum can dream of such profit There is no way you made $2000 per day mining DOGE with one GPU. I remember it was more like $10/day with a 280X. actualy there is because bitcoin then skyrocket to 1200, and i was instamining 10M when doge was launched, then it fall to 3-4 then 2M etc...it did not last long, around 1 week, i can give you that |
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frostminer
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May 22, 2016, 07:05:10 AM |
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GPUs are very expensive, and mining pools aren't very profitable. Summer is coming, and a lot of people are about to find out just how much heat these things produce.
I love when new miners are shocked about their power bill. You will never compete against people who operate next to a dam or some other scheme to get cheap power. It is just not feasible for home miners anymore and most likely will never be again. Buy coins - don't mine. If you read the posts here, you'll see its about 1/7th of the profit goes to powerbill. So its actually quite little. |
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Dekker3D
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★YoBit.Net★ 350+ Coins Exchange & Dice
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May 22, 2016, 07:14:07 AM |
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The earlier you came in the better it is for mining while the difficulty is still low but it'll get to the point where mining ETH will only for big farms with low electricity cost.
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Ziskinberg
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May 22, 2016, 10:48:22 AM |
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The earlier you came in the better it is for mining while the difficulty is still low but it'll get to the point where mining ETH will only for big farms with low electricity cost.
Is there any cloud mining for the ETH so if anyone who cannot afford to buy mining equipment, we can have an option to just put our investment online? |
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Tmdz
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May 22, 2016, 11:14:16 AM |
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Yea but mining hardware is at least 3 times cheaper than cloud mining. Genesis mining wants $925 for 25 mh or you could mine with a single R9 390 card and make 27 mh for $330. You will be throwing your money away with cloud mining.
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Gestiside
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May 22, 2016, 12:34:11 PM |
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The earlier you came in the better it is for mining while the difficulty is still low but it'll get to the point where mining ETH will only for big farms with low electricity cost.
Is there any cloud mining for the ETH so if anyone who cannot afford to buy mining equipment, we can have an option to just put our investment online? You can do cloud mining with Genesis Mining. https://www.genesis-mining.com/our-offer. the price is not cheap. |
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RoseMann
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May 23, 2016, 02:16:29 PM |
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The earlier you came in the better it is for mining while the difficulty is still low but it'll get to the point where mining ETH will only for big farms with low electricity cost.
Is there any cloud mining for the ETH so if anyone who cannot afford to buy mining equipment, we can have an option to just put our investment online? You can do cloud mining with Genesis Mining. https://www.genesis-mining.com/our-offer. the price is not cheap. The price is $3700 per 100 MH/s. With $3700, you can buy 12 R9 390 and build two rigs with 350 MH/s. |
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frostminer
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May 23, 2016, 02:26:06 PM |
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The earlier you came in the better it is for mining while the difficulty is still low but it'll get to the point where mining ETH will only for big farms with low electricity cost.
Is there any cloud mining for the ETH so if anyone who cannot afford to buy mining equipment, we can have an option to just put our investment online? You can do cloud mining with Genesis Mining. https://www.genesis-mining.com/our-offer. the price is not cheap. The price is $3700 per 100 MH/s. With $3700, you can buy 12 R9 390 and build two rigs with 350 MH/s. I have not seen any cloud or rent-solution that is profitable so far. All the ones i've seen has simply been "throwing some money on something to get even fewer in return". If nicehash started ETH.. that would change it. |
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RoseMann
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May 24, 2016, 11:15:40 AM |
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The earlier you came in the better it is for mining while the difficulty is still low but it'll get to the point where mining ETH will only for big farms with low electricity cost.
Is there any cloud mining for the ETH so if anyone who cannot afford to buy mining equipment, we can have an option to just put our investment online? You can do cloud mining with Genesis Mining. https://www.genesis-mining.com/our-offer. the price is not cheap. The price is $3700 per 100 MH/s. With $3700, you can buy 12 R9 390 and build two rigs with 350 MH/s. I have not seen any cloud or rent-solution that is profitable so far. All the ones i've seen has simply been "throwing some money on something to get even fewer in return". If nicehash started ETH.. that would change it. You can mine Eth at Nicehash, but that is not a rent market. It is a conventional pool provided by it. |
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