Mining altcoins 2018 and beyond for profit

[xst1]

Hi guys, relatively new to mining but in the process of setting up a 6 gpu miner for ethereum or zcash. I noticed the difficulty getting bigger with more people coming in. Just wondering, will there always be other coins to gpu mine apart from ethereum?
I know there are variable such as value of the ethereum which will determine profitabilily.
But i am considering the other not so popular coins to mine just to make some $$$. I guess they will increase in difficulty as well? Will there be enough for everyone, will there be new coins coming out that can be gpu mined?
I guess, my question is if gpu mining (just anything) is a worthwhile investment now? or is it too late with everyone coming in?

thanks

[rdluffy]

I think if you already have the gpus, do it
If you will buy, hold, because you have to be realistic, there is a lot of people mining, its not susteinable in a mid-long term

[TheOATeam]

Difficulty has been skyrocketing

Compared to this time 2 weeks ago I am earning like 1/2. Not sure if this will continue at this rate but if so, it may not be profitable depending on electricity costs in your area. If you have free electricity, then hell yeah!

[xst1]

Difficulty has been skyrocketing

Compared to this time 2 weeks ago I am earning like 1/2. Not sure if this will continue at this rate but if so, it may not be profitable depending on electricity costs in your area. If you have free electricity, then hell yeah!

shucks, really eh...electricity is not too bad in my area, what about new coins? Isnt there possibility of that?

[xst1]

I think if you already have the gpus, do it
If you will buy, hold, because you have to be realistic, there is a lot of people mining, its not susteinable in a mid-long term

hmmm.....what about other coins, perhaps some which are not out yet?

[Vann]

There is no guarantee of profit in mining. Even with the explosive growth in mining equipment, profit from GPU mining is at an all time high from the high in BTC and explosive market cap growth in alts. It's predictable that at some point the market will normalize and the profits will not be the same. What GPU mining has shown is that it always prevails as new coins and technologies look for new ways to leverage the huge adoption that GPU POW mining has and that is only likely to grow in the future.

[xst1]

There is no guarantee of profit in mining. Even with the explosive growth in mining equipment, profit from GPU mining is at an all time high from the high in BTC and explosive market cap growth in alts. It's predictable that at some point the market will normalize and the profits will not be the same. What GPU mining has shown is that it always prevails as new coins and technologies look for new ways to leverage the huge adoption that GPU POW mining has and that is only likely to grow in the future.

So investing in a rig now with some good cards 1070 or 1080ti - should yield something for atleast a year? mining some coin or the other?

[badream]

There is no guarantee of profit in mining. Even with the explosive growth in mining equipment, profit from GPU mining is at an all time high from the high in BTC and explosive market cap growth in alts. It's predictable that at some point the market will normalize and the profits will not be the same. What GPU mining has shown is that it always prevails as new coins and technologies look for new ways to leverage the huge adoption that GPU POW mining has and that is only likely to grow in the future.

So investing in a rig now with some good cards 1070 or 1080ti - should yield something for atleast a year? mining some coin or the other?

In my country atm it's almost impossible to get any good vga... :|

[Jmattes]

There is no guarantee of profit in mining. Even with the explosive growth in mining equipment, profit from GPU mining is at an all time high from the high in BTC and explosive market cap growth in alts. It's predictable that at some point the market will normalize and the profits will not be the same. What GPU mining has shown is that it always prevails as new coins and technologies look for new ways to leverage the huge adoption that GPU POW mining has and that is only likely to grow in the future.

So investing in a rig now with some good cards 1070 or 1080ti - should yield something for atleast a year? mining some coin or the other?

...Checking my crystal ball.. ..try again later it says.. haha
No one can predict that. Last time BTC hit an all time high it crashed within 3 months following that high.
For all we know this is the new sustainable avg price or it gets bad press and crashes again or someone else adopts it and it skyrockets higher..

Regardless of what happens, this is what you have to look at;

Do you have money to spend/risk on this gamble as it less like stocks and more like gambling.
Can you afford the equipment and the power bill as it is a risky investment. Some people have taken out loans and over extended themselves for mining equipment and if this bubble pops they will be on the street. I am in the same boat as you, starting at 0 today is tough.

I had the 2k to burn on the rig i just bought, hell I have the money for a small 5 rig farm.. I am just too cautious. I have an exit strategy if mining with gpu ends tomorrow.. I have a nice (2) 1080ti rig and I can afford it.. If I had 5 rigs.. then I would be in trouble. Regardless, this time I am mining and holding for the foreseeable future. ROI is about 4 months.. I would hope we can get that. Anything more than that would be gravy..

Just my 2 cents.. good luck.

[xst1]

There is no guarantee of profit in mining. Even with the explosive growth in mining equipment, profit from GPU mining is at an all time high from the high in BTC and explosive market cap growth in alts. It's predictable that at some point the market will normalize and the profits will not be the same. What GPU mining has shown is that it always prevails as new coins and technologies look for new ways to leverage the huge adoption that GPU POW mining has and that is only likely to grow in the future.

So investing in a rig now with some good cards 1070 or 1080ti - should yield something for atleast a year? mining some coin or the other?

...Checking my crystal ball.. ..try again later it says.. haha
No one can predict that. Last time BTC hit an all time high it crashed within 3 months following that high.
For all we know this is the new sustainable avg price or it gets bad press and crashes again or someone else adopts it and it skyrockets higher..

Regardless of what happens, this is what you have to look at;

Do you have money to spend/risk on this gamble as it less like stocks and more like gambling.
Can you afford the equipment and the power bill as it is a risky investment. Some people have taken out loans and over extended themselves for mining equipment and if this bubble pops they will be on the street. I am in the same boat as you, starting at 0 today is tough.

I had the 2k to burn on the rig i just bought, hell I have the money for a small 5 rig farm.. I am just too cautious. I have an exit strategy if mining with gpu ends tomorrow.. I have a nice (2) 1080ti rig and I can afford it.. If I had 5 rigs.. then I would be in trouble. Regardless, this time I am mining and holding for the foreseeable future. ROI is about 4 months.. I would hope we can get that. Anything more than that would be gravy..

Just my 2 cents.. good luck.

You make a valid point and have a good exit strategy. Too bad i didnt get on this earlier but i still see hope in this. As long as the value of the coin rises with difficulty - then thats good too, just need more coins to be minable and more adoption..roi is first goal..

[carlisle1]

There is no guarantee of profit in mining. Even with the explosive growth in mining equipment, profit from GPU mining is at an all time high from the high in BTC and explosive market cap growth in alts. It's predictable that at some point the market will normalize and the profits will not be the same. What GPU mining has shown is that it always prevails as new coins and technologies look for new ways to leverage the huge adoption that GPU POW mining has and that is only likely to grow in the future.

correct, there's no assurance nowadays that gpu mining will still profitable even you will try mining new alts which have good potentials if you
will hold and read their road map, aside from considering your expenses you do also needed to double check whether the coins will make a
huge future.

[Jmattes]

There is no guarantee of profit in mining. Even with the explosive growth in mining equipment, profit from GPU mining is at an all time high from the high in BTC and explosive market cap growth in alts. It's predictable that at some point the market will normalize and the profits will not be the same. What GPU mining has shown is that it always prevails as new coins and technologies look for new ways to leverage the huge adoption that GPU POW mining has and that is only likely to grow in the future.

correct, there's no assurance nowadays that gpu mining will still profitable even you will try mining new alts which have good potentials if you
will hold and read their road map, aside from considering your expenses you do also needed to double check whether the coins will make a
huge future.

That is 100% right..

The coins that are big players now, weren't big players 3 years ago.. There is a chance a dark horse can come in still and one day even pass bitcoin.. You never know.

My goal is to work towards having a few btc and also have a few of the more promising high valued coins while getting a handful of each promising smaller valued coins to just in case they get a crazy run and increase to a high value, I am good.Basically try to get a bit of everything so I have my bases for the future covered..

Even if it isn't profitable to mine, I may keep mining to build up quantities in case it does become profitable again and then I make up the money on the coins I was stock piling.

[Thetaj]

Judging by the profits from the last month of mining (I started early with 1080s old gaming cards, I had 4 and my brother gave me 2 because he blew his 7700) I can say with certainty that in the SHORT run, shit is going to hit the fan. What I mean is too many people hyping up on ez money and too many video cards jumping into the pools. Difficulty has been going up about 2x every 3 days on average at least for most of the nvidia algorithms (like Lyra2re). I think that if I was going to make another miner rig (this one is just hobbled old parts) I would wait until next month when most of the noobs quit because : ain't no ez money in the world. Then buy some second hand GPUs for cheap and just HODL whatever you think is most likely to succeed in the future.

Remember: we are not actually miners, we're shareholders in a company (whatever coin you're mining) and in return for your hashing power and electricity they give you "coins" as a sort of IOU for the future.

ps: If you want to serious mine don't buy GPUs buy some ASICs.

edit: upper post beat me to it

[sharpshot]

I'm new to this.  Decided to mine Burstcoin because it uses Proof-of-Capacity.  Hard drives use less electricity than GPU's and when it becomes too difficult, I can use them for other things.  It's not going to be profitable on the small scale I'm doing it at the moment but I'll hold the coins and hope for a better price.  I hope there will be new coins with Proof-of-Capacity because it seems like a better option than using lots of GPU's.

[cah ndablek]

Most likely as the times progress, more new coins will emerge to provide an opportunity for someone to profit. but in running all it also needs to pay attention to the price of the coin first and do not rush to try it.

[phundred]

I'm new to this.  Decided to mine Burstcoin because it uses Proof-of-Capacity.  Hard drives use less electricity than GPU's and when it becomes too difficult, I can use them for other things.  It's not going to be profitable on the small scale I'm doing it at the moment but I'll hold the coins and hope for a better price.  I hope there will be new coins with Proof-of-Capacity because it seems like a better option than using lots of GPU's.

If you have some free harddisks to use, then burstcoin is a good choice, but you wouldn't get much profit now because of the price dropped. You may mine it and keep it first.

[Joint Force]

I'm pretty sure PoS Proof-of-Stake mining is going to take over. Older high marketcap coins will require you to buy coins to stake but you may be able to get free coins by signing up to mine for a brand new coin as the new coins try to attract miners. Mining is going to turn into full dev ops server hosting/maintaining. You will be running a lot of stuff. It'll no longer be just needing GPUs. You will need high powered CPUs, high speed bandwidth & massive amounts of storage space.

[Idrisu]

Cryptoindustry is still at the infancy stage and alot of opportunities exist in this industry and mining business especially altcoins will still be profitable beyond 2018. Gpu,  can still be use to mining others coins outside ethereum. You can still mining  Bitcoin gold with gpu.

[OreGod]

I want to mine BCN bytecoin on minergate but not sure of the prospect of the coin. Anyone with an idea of the future prospect of BCN? dont want to mine in VAIN....

[Menotyou]

There is no guarantee in life period so it’s up to personal beliefs. I mine and will continue to mine. I don’t mine and sell I mine and then trade to increase my amount of coin and have set a goal where I will sell and not before it, ever. It’s mining if it flops I’m out a little bit of cash and that’s it. So mine the most common coin you can, like Ethereum, till you can’t anymore then mine the next and so on then sell once it hits the price your looking for but forget about it till then. Many feel crypto is here to stay so if you mind the successful coins it’s more likely to be profitable for you. I’m just going to keep mining and trading, slowly expanding my rigs one card at a time till I have enough that I’m happy with.  Once Ethereum goes POS I’m going to put 1/2 into a stake pool and keep the profit in the pool and use the other 1/2 to trade. Rinse and repeat and for the next 5-10 years it should be possible to make a huge profit. If your looking for the quick buck you might have better luck investing in an ICO. So if interested in mining the sooner 5he better as far as I’m concerned just do not EVER borrow money to get started unless you have the income to cover the loan.