Viability of a (Long Term) Mining Career?

[Amph]

 Can't count on new profitable coins either - there MIGHT be some such, but the openings for viable altcoins are growing fewer and fewer as more and more altcoins have swamped the coinspace.

funny because before ethereum was pumped they were saying the same thing i suppose, that there was no future for mining in alt anymore and nothing was profitable

then boom ethereum pumped and everything changed again

the true is that one never know what will happen, my rig will always be ready for the next big thing no matter what

[sanas]

 Can't count on new profitable coins either - there MIGHT be some such, but the openings for viable altcoins are growing fewer and fewer as more and more altcoins have swamped the coinspace.

funny because before ethereum was pumped they were saying the same thing i suppose, that there was no future for mining in alt anymore and nothing was profitable

then boom ethereum pumped and everything changed again

the true is that one never know what will happen, my rig will always be ready for the next big thing no matter what

Before the Etheruem pump, there is very little profit to be made with the GPU mining for about 2 years.

[adaseb]

 Can't count on new profitable coins either - there MIGHT be some such, but the openings for viable altcoins are growing fewer and fewer as more and more altcoins have swamped the coinspace.

funny because before ethereum was pumped they were saying the same thing i suppose, that there was no future for mining in alt anymore and nothing was profitable

then boom ethereum pumped and everything changed again

the true is that one never know what will happen, my rig will always be ready for the next big thing no matter what

Before the Etheruem pump, there is very little profit to be made with the GPU mining for about 2 years.

Yeah I keep saying this to everybody but for some reason nobody believes me and thinks for their benefit there will always be a profitable coin out.

[Amph]

 Can't count on new profitable coins either - there MIGHT be some such, but the openings for viable altcoins are growing fewer and fewer as more and more altcoins have swamped the coinspace.

funny because before ethereum was pumped they were saying the same thing i suppose, that there was no future for mining in alt anymore and nothing was profitable

then boom ethereum pumped and everything changed again

the true is that one never know what will happen, my rig will always be ready for the next big thing no matter what

Before the Etheruem pump, there is very little profit to be made with the GPU mining for about 2 years.

you didn't understand what i said in that post, i know that there was no profit(after the end of summer 2014 until early 2016 or so) but then boom, the pump happened and everything turned profitable

how you can be so sure that this will not happen again with a new coin in 1-2 years? you can not

p.s. there was no profit in that long time frame, only because bitcoin was dumped hard and because of that the sentiment was very bad in the crypto world, now we are in a different time frame, completely different, bitcoin is increasing strongly

this will bring new fresh money in the crypto scene

[Namsbreh]

 Can't count on new profitable coins either - there MIGHT be some such, but the openings for viable altcoins are growing fewer and fewer as more and more altcoins have swamped the coinspace.

funny because before ethereum was pumped they were saying the same thing i suppose, that there was no future for mining in alt anymore and nothing was profitable

then boom ethereum pumped and everything changed again

the true is that one never know what will happen, my rig will always be ready for the next big thing no matter what

Before the Etheruem pump, there is very little profit to be made with the GPU mining for about 2 years.

What a load of rubbish!  I started mining in 2014 and have always found something worth mining.  ETH is just a nice bonus!!!

[sp_]

2014 was the end of the litecoin Klondike.

[QuintLeo]

Litecoin has been profitable with some ASIC if you bought them at the right time - the early Gridseed stuff was so overpriced it may have never made ROI, but once the blades got down to $800 they were able to achieve ROI if you had fairly low cost electric. A2/Titan/Alcheminers were profitable if you got them early enough but late enough you didn't pay $8000+ for them.

 For GPU mining, X11 was profitable 'till fairly shortly after that first ASIC for it showed up, if youre electric wasn't high and you had an efficient mining setup - that covers well into the timeframe when Ethereum BECAME significantly profitable.

 I'm sure there were other options I'm not aware of.

[adaseb]

Litecoin has been profitable with some ASIC if you bought them at the right time - the early Gridseed stuff was so overpriced it may have never made ROI, but once the blades got down to $800 they were able to achieve ROI if you had fairly low cost electric. A2/Titan/Alcheminers were profitable if you got them early enough but late enough you didn't pay $8000+ for them.

 For GPU mining, X11 was profitable 'till fairly shortly after that first ASIC for it showed up, if youre electric wasn't high and you had an efficient mining setup - that covers well into the timeframe when Ethereum BECAME significantly profitable.

 I'm sure there were other options I'm not aware of.

From what I remember. I don't think X11 was ever that profitable. I remember having like a  R9 280X GPUs back then and I think I made like $1 per day.

And then I think in August 2014 It was down to $0.50/per day/ per 280x. I don't think it was ever profitable if you had to pay for electricity.

Back then an Antminer S1 made good money and was fairly affordable.

[Charloz24]

I discovered crypto and mining in dec 2013. That was good time, a 280x gained 10$ /day, but that did not last very long. At that time I purchased 3x 280x and one 290.  I turned off the mining rig in summer 2014 becauseit was not profitable anymore and sold  one 280x andthe 290 (doh!).  I restarted in march (eth of course) and I was out of crypto world in 2015 but I think that was talk about jackpotcoin that was profitable last year?

[adaseb]

I discovered crypto and mining in dec 2013. That was good time, a 280x gained 10$ /day, but that did not last very long. At that time I purchased 3x 280x and one 290.  I turned off the mining rig in summer 2014 becauseit was not profitable anymore and sold  one 280x andthe 290 (doh!).  I restarted in march (eth of course) and I was out of crypto world in 2015 but I think that was talk about jackpotcoin that was profitable last year?

I did Jackpot coin mining also but that was in summer 2014. But I am pretty sure it wasn't making much more than $0.50-$0.75/day.

[Charloz24]

I discovered crypto and mining in dec 2013. That was good time, a 280x gained 10$ /day, but that did not last very long. At that time I purchased 3x 280x and one 290.  I turned off the mining rig in summer 2014 becauseit was not profitable anymore and sold  one 280x andthe 290 (doh!).  I restarted in march (eth of course) and I was out of crypto world in 2015 but I think that was talk about jackpotcoin that was profitable last year?

I did Jackpot coin mining also but that was in summer 2014. But I am pretty sure it wasn't making much more than $0.50-$0.75/day.

Ok so it look like I didn't miss the jackpot... lol 

[adaseb]

I discovered crypto and mining in dec 2013. That was good time, a 280x gained 10$ /day, but that did not last very long. At that time I purchased 3x 280x and one 290.  I turned off the mining rig in summer 2014 becauseit was not profitable anymore and sold  one 280x andthe 290 (doh!).  I restarted in march (eth of course) and I was out of crypto world in 2015 but I think that was talk about jackpotcoin that was profitable last year?

I did Jackpot coin mining also but that was in summer 2014. But I am pretty sure it wasn't making much more than $0.50-$0.75/day.

Ok so it look like I didn't miss the jackpot... lol 

From what I can remember the only profitable coin between Litecoin and Ethereum was Quark. I think with some Russian kernels you could of made like $5/day with a 280X but that was only for like 2-3 months back in May 2015 or so...

[Crypto Nut]

What about the new S9 14 T/h miner and the new A4 600 M/h scrypt miners coming out very soon. Will they not make bitcoin and scrypt coin mining profitable again. The 600 M/h A4 will earn around $40 a day mining LTC you would only need 3 or 4 of them to earn a good living.

A4 Miner Performance: 600Mhs from 720W at the Wall or 850Mhs from 1020W.

That's prob $60 a day at 850 Mhs ?

[Charloz24]

What about the new S9 14 T/h miner and the new A4 600 M/h scrypt miners coming out very soon. Will they not make bitcoin and scrypt coin mining profitable again. The 600 M/h A4 will earn around $40 a day mining LTC you would only need 3 or 4 of them to earn a good living.

A4 Miner Performance: 600Mhs from 720W at the Wall or 850Mhs from 1020W.

That's prob $60 a day at 850 Mhs ?

You forgot the fact that diffculty will rise with those new miner, so profitability will be much lower.

[cjmining]

What about the new S9 14 T/h miner and the new A4 600 M/h scrypt miners coming out very soon. Will they not make bitcoin and scrypt coin mining profitable again. The 600 M/h A4 will earn around $40 a day mining LTC you would only need 3 or 4 of them to earn a good living.

A4 Miner Performance: 600Mhs from 720W at the Wall or 850Mhs from 1020W.

That's prob $60 a day at 850 Mhs ?

You forgot the fact that diffculty will rise with those new miner, so profitability will be much lower.

Difficulty on LTC and BTC is so high that these new miners probably won't make too much of a difference to the difficulty. Yes it will go up but don't think it will go up too much to effect the profit by any large amount. BTC halving in rewards will have more of an effect on the profitability of the S9 than the difficulty.

[Amph]

What about the new S9 14 T/h miner and the new A4 600 M/h scrypt miners coming out very soon. Will they not make bitcoin and scrypt coin mining profitable again. The 600 M/h A4 will earn around $40 a day mining LTC you would only need 3 or 4 of them to earn a good living.

A4 Miner Performance: 600Mhs from 720W at the Wall or 850Mhs from 1020W.

That's prob $60 a day at 850 Mhs ?

you need to factor roi time, those beast usually require a 3-6 months roi time when bought at the beginning, unless you are planning to sell them fast

i can not see how they are profitable

[adaseb]

Yeah they would of been VERY profitable only if they were FREE. However most Scrypt equipment is like 1 year ROI. And the S9 is like 7-8 months ROI.

[QuintLeo]

Litecoin is profitable NOW with the older A2 units.

 The A4 will be profitable immediately, but will take some time to achieve ROI - and if enough of them are sold they will eventually make the older A2/Alcheminer and eventually the Titan miners unprofitable at anything less then VERY VERY cheap or free electric.

 It will NOT be a $60/day machine - I've got a bit over 450MH mining Litecoin right now, and I pull in more like $20/day (bit higher this past week with the out-of-nowhere BIG diff drop coupled with the Litecoin price surge of the last month and some). That's GROSS income, not net after electric use - the NET on an A4 will be higher than on my existing A2 farm due to the much lower power use.


 Get used to machines needing a YEAR to ROI - the days of 3 month ROI on new gear is LONG GONE for the most part, and even managing 3 month ROI on USED gear isn't real likely.


 Based on what I'm estimating the cost of a single A4 to be to the "partners", I'm figuring on Litecoin diff doubling over the course of the rest of this year - NOT factoring the "where the heck did it come from" massive DROP of the last week. The main kicker in that estimate is "how many chips will they get out of the foundry how fast" coupled with "how much money are non-founders willing to invest into Scrypt gear".

 S9 at current pricing I'm not sure WILL ROI - many variables involved, and the current price is high even for an "early adopter" premium price.

[greaterninja]

One would need to take advantage of renewable energy (Solar, Wind, Water) and renewable energy rebates for city, business, state, federal (in USA).

I can only see this being a  viable career if you get your power costs down to zero or it in fact returns money by selling power back to the company.




BTW, if anyone is interested in doing this with me...LMK.  I'm thinking of buying land in Arizona or Colorado.


Oh and mining and being successful is about doing the numbers and having a strategy and maintaining that strategy or change gears if you have absolutely have to.

[sanas]

One would need to take advantage of renewable energy (Solar, Wind, Water) and renewable energy rebates for city, business, state, federal (in USA).

I can only see this being a  viable career if you get your power costs down to zero or it in fact returns money by selling power back to the company.




BTW, if anyone is interested in doing this with me...LMK.  I'm thinking of buying land in Arizona or Colorado.


Oh and mining and being successful is about doing the numbers and having a strategy and maintaining that strategy or change gears if you have absolutely have to.

Do you buy the land to set up the renewable energy generation plant? That would cost a lot of money.