Would now still be a good time to get into Altcoin GPU mining?

[squatz1]

Was thinking of putting around $5000 into alt-coin mining with a gpu rig and I live in an area with pretty inexpensive electric. Wanted to know if it was still viable, even with electric prices around $.03 or something like that? Might be able to get it free with a family member who has solar panels on their roof, so yeah.



Thanks!

[1715162226]

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[1715162226]

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[JaredKaragen]

Was thinking of putting around $5000 into alt-coin mining with a gpu rig and I live in an area with pretty inexpensive electric. Wanted to know if it was still viable, even with electric prices around $.03 or something like that? Might be able to get it free with a family member who has solar panels on their roof, so yeah.



Thanks!

$5K into 2-3 rigs would be ideal.   They will still turn a profit especially if you are going for RX400+ or Pascal++ GPU.

Don't find yourself limited in mentality like a lot of others here:  There are HUNDREDS of altcoins that PROFIT...  you just have to configure to mine them (pool or otherwise), nd exchange or auto-exchange through a pool to something like BTC.

Don't sit there thinking there are only 3 profitable options, because there aren't just 3 like the fanboys that seem to only follow each others' steps do.....  I make a decent profit not mining XMR, ETH, or ZEC......   I have always shied away from them each time I did a profitability comparison between my multi-algo switching, or one specific algo for a period of time.

[TheKoolaider]

Was thinking of putting around $5000 into alt-coin mining with a gpu rig and I live in an area with pretty inexpensive electric. Wanted to know if it was still viable, even with electric prices around $.03 or something like that? Might be able to get it free with a family member who has solar panels on their roof, so yeah.



Thanks!

$5K into 2-3 rigs would be ideal.   They will still turn a profit especially if you are going for RX400+ or Pascal++ GPU.

Don't find yourself limited in mentality like a lot of others here:  There are HUNDREDS of altcoins that PROFIT...  you just have to configure to mine them (pool or otherwise), nd exchange or auto-exchange through a pool to something like BTC.

Don't sit there thinking there are only 3 profitable options, because there aren't just 3 like the fanboys that seem to only follow each others' steps do.....  I make a decent profit not mining XMR, ETH, or ZEC......   I have always shied away from them each time I did a profitability comparison between my multi-algo switching, or one specific algo for a period of time.

Exactly this.  On every forum, subreddit, website, you'll see people asking, "is mining still worth it?", "should I get into mining?"  Yes.  It is worth it, you just need to find other coins to mine.

The people who ask if it's still worth it are not taking the time to do their own research which in turn causes them to fail because "it's too hard," or "the money isn't fast enough."

I have two rigs and am turning a profit every single month for the 7 months I have been mining.

[Raja_MBZ]

The altcoin GPU mining is definitely worth it, specially if you have a few thousand dollar budget along with the cheap electricity. By cheap electricity, I mean any price less than 7-8 cents per kWh/unit.

However, one piece of advice, do not rely on solar energy, until and unless it's well-maintained and very much powerful.

[eckmar]

Chose a coin you want to mine and calculate your ROI. Then determine if it's profitable for you. For someone ROI of 1 year is profitable and for someone it's not. Chose yourself

[duboisi]

People that ask such question means that they don't spend time to keep updated and thus should not get into mining. Mining profit does not come from a one time set up job.

[szafa]

Library or sia or maybe pascalcoin try yourself what is better.

[Ambros]

It really depends on what you are looking for and how you are into IT.

If you are looking for a GPU rig, that mines ETH/ZEC/XMR you have a chance to ROI in about 7months, but you will not get rich.

Otherwise you should spend your time looking for a coin that will pump, in that case you can really ROI in days. This takes time and also luck

[JaredKaragen]

Me personally,   I don't do any coin trading.... soo unreliable..

I also don't like holding wallets and bunches of blockchains for them to be able to spend when they need spent.

I always work with autoexchange pools.  It's simple, and effective.  Now and then I feel the pumps by an increased exchange value, and other times I find myself looking at the profitability of other algos with 24 hour tests to see if the payout is more consistent or greater.   The estimates shown on sites are just that;  estimates.  They tend to be pretty far off off in many instances due to exchange price fluctuations.

All in all;  I love being able to have a single payout coin that is stable and reliable, while at the same time I am mining multiple coins over multiple algos with machines;  using auto-switching pools.

For instance since I use Nvidia cards heavily, I did do the early lbry mining, and decred as well.  Turned some good profits;  but when they died off or pool hashrate got too low for network diff, back to Lyra2 I went.  Much more profitable.   Then people started switching to ZEC, ETH, and XMR...   and the lyra2 pool hashrate took a dump.  Block payouts were less prevalent and thus less consistent;  So I went looking at other algos and, to my surprise still keep on turning about the same amount of profit/day that I was months ago.

Relatively close anyways when converted to USD.

When it comes to GPU mining; just remember, they are versatile.  Very versatile.  And if you want to expect to sell and upgrade;  take your purchase selection into account.  Nvidia's seem to hold value and keep a higher resale value.  The market towards gamers and such is much more present than for the AMD equivalents.

Seeing $200 980's on CL makes me tempted to build a new Maxwell rig... but that extra $100 will bang in a 1060.... which is far more hash and almost half the power.   

Choices... choices...

[Tasty Potato]

Was thinking of putting around $5000 into alt-coin mining with a gpu rig and I live in an area with pretty inexpensive electric. Wanted to know if it was still viable, even with electric prices around $.03 or something like that? Might be able to get it free with a family member who has solar panels on their roof, so yeah.

Thanks!

One does not just put $5k into some venture, you got to have some decent knowledge into alt-coin, i.e. mining. It is viable all right. But you can just buy the coins and sell higher, no need to choose, buy, install, debug the hardware. Plus, do you have an easy way to cash the coins? Have you run the test run? If I were you I'd wait for the next gen GPU to come.