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Author Topic: Is mining completely dead to noobs  (Read 2025 times)
h311m4n
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January 24, 2017, 03:45:49 PM
 #21

Is there anything its viable to mine with an average PC at this point? Any half decent returns?

Thanks

Only way to get any decent money is to buy GPUs to put inside your PC and have cheap electricity.

There isn't anything to mine with your CPU.



Wrong, XMR is perfectly mineable with a recent CPU!

Furthermore, I woulnd't say it's dead for newbies, but don't expect to average 1000$/month unless you have free electricity and some cash to invest to get a few GPUs going.

Just mining with a home PC may get you a few bucks a day if you're not the one paying for electricity...Let's put it this way: I have 3 rigs, 12 GPUS in total. Mining XMR, as I pay for electricity, I make about 4$/day of profit at current XMR price.
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January 24, 2017, 07:00:53 PM
 #22

Is there anything its viable to mine with an average PC at this point? Any half decent returns?

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Having an average PC, let's say with GTX 970 can mine you it's cost in 6-12 months. If your expectations are realistic you should feel nice having a possibility to earn by using the videocard itself.
In 6-12 months you will be able to sell 970 and the mined coins and buy 1070 easily. This was my idea until I sold my 970 and bought 2 RX 480  Roll Eyes

There are many variables in mining: electricity cost, hardware cost, price fluctuations, difficulty rise, possibility of coin attack, newer hardware releases, plus a lot to learn, watch, follow and try.

Crypto is here and it will only grow in years to come.
But to have a decent and good income one needs investments. Use online calculators and educate yourself to get started.  Cool
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January 24, 2017, 10:32:08 PM
 #23

As I said, anyone who doesn't want to take the time should gtfo.

You are wrong. They should mine with nicehash Cheesy

 Nicehash sometimes IS the best option.
 I make more there on my A2s than I do through pool mining, and have done so for a month or so.
 It was also more profitable on my 1070s than any other option for a lot of the last 2 months.

 Just gotta crunch the numbers with allowance for all the fees involved in ALL options.



 Bitcoin has only seen *2* halfings to date - and the next one isn't due for over 3 years.


 The best way for a small miner to be profitable today, JUST LIKE for the big farms, is to be located in an area with low electric costs.

 

please define "low electric costs" in USD

 5 cents or less to have a good chance to compete and some chance to achieve ROI not factoring in used gear sales.
 3 cents or less to be VERY competative with a good chance to achieve ROI without factoring in used gear sales.

 10 cents at this point is break-even or worse with a lot of recent gear, and iffy to ROI on any more (GPU coins have an advantage that the GPU tends to retain more value so you can resell it at some point).

 It's entirely possible to achieve 3 cent electric in a residential/small business setting in the US, but the places you can do so are 2 specific counties in Washington State - and one county next to those that is at 4.5ish for small consumption folks.
 I don't know if there are any other areas of the US that you can get to less than 5c for a residence/small business location, but there are a few others you can manage that at "industrial" scale consumption and get well under 10c on residential/small business.


 Forget trying to mine most stuff on NVidia 9xx series cards, unless you already HAVE them on hand or can find them DIRT cheap or have crazy-cheap-to-free electric - the efficiency is too low to manage ROI.



 XMR on a CPU might be profitable on an Intel, but AMD don't CPU mine that worth beans.


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January 25, 2017, 12:10:53 AM
 #24

Thanks for all the input,here guys,  it helps educate a whole lot of people,  I always get asked these same questions all of the time, it really helps answer in greater detail...
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January 25, 2017, 07:27:49 AM
 #25

Is there anything its viable to mine with an average PC at this point? Any half decent returns?

Thanks

Having an average PC, let's say with GTX 970 can mine you it's cost in 6-12 months. If your expectations are realistic you should feel nice having a possibility to earn by using the videocard itself.
In 6-12 months you will be able to sell 970 and the mined coins and buy 1070 easily. This was my idea until I sold my 970 and bought 2 RX 480  Roll Eyes

There are many variables in mining: electricity cost, hardware cost, price fluctuations, difficulty rise, possibility of coin attack, newer hardware releases, plus a lot to learn, watch, follow and try.

Crypto is here and it will only grow in years to come.
But to have a decent and good income one needs investments. Use online calculators and educate yourself to get started.  Cool


That's a very useful point of view. If you have a pretty decent gaming pc you can mine with you GPU and maybe even CPU, you will get some money (let's say 1.5$/day) and in a few months you will be able to get sell your current GPU and buy new gear.
Take take about your hardware, remove dust and don't let it overheat! Otherwise not only you will not gain money, but you will lost your nice gaming pc
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