Mining MONERO is a worthless endeavor nowadays...and it will only get worse...

[MinasTirith]

Mining MONERO is a worthless endeavor as of a few weeks ago...the difficulty level has skyrocketed from 17516000000 to --->  27516000000...it has practically doubled in just a few days!!    Meaning, it will take you much longer to find a block and you will get paid less when you do !!!!

You are mining for crumbs....

[gt_addict]

My cpu will mine it until it dies. Its sitting there using electricty anyway so may aswell use it.

[ZenFr]

Monero has a particularity : it is GPU mining and CPU mining copatible.
It's difficulty has ever been very high, probably because a lot of employees all around the world are mining it 24/7 with their office computer.
In the lasts days, Monero price has growing high and a lot of new miners are coming : normal.

[Ultegra134]

You can always switch to another Altcoin though, if one turns out unprofitable, find some less-known coin that seems just a tad promising, UBIQ, ZenCash and many others out there. Had tried Monero with my hardware and Minergate, wasn't making much. The minergate miner could be at fault though, didn't try another one.

[MinasTirith]

Monero has a particularity : it is GPU mining and CPU mining copatible.
It's difficulty has ever been very high, probably because a lot of employees all around the world are mining it 24/7 with their office computer.
In the lasts days, Monero price has growing high and a lot of new miners are coming : normal.

Agreed ZenFr, I'm not saying it's not normal or expected this happened...what I am saying is: the result of this happening has made Monero mining completely worthless...as of ~ August 2017....MONERO MINING IS NOT WORTH IT AT ALL  

[MinasTirith]

You can always switch to another Altcoin though, if one turns out unprofitable, find some less-known coin that seems just a tad promising, UBIQ, ZenCash and many others out there.

100% agreed Ultegra134, no point in mining Monero anymore...

[zokora]

I did not know it was so bad. Difficulty is grown but price is also. Is it still unprofitable?

Its profil is above most of other coins in below link. Is this wrong?
https://www.coinwarz.com/cryptocurrency

[carlisle1]

I did not know it was so bad. Difficulty is grown but price is also. Is it still unprofitable?

Its profil is above most of other coins in below link. Is this wrong?
https://www.coinwarz.com/cryptocurrency

maybe for those who loves to earn a lot or to have more monero inside their pockets and they forgetting something that miners will ride when they see
price jumped up and difficulty will increase so I think its a risk to take for those who wants to continue mining monero.

[JuanHungLo]

Not too much forward thinking in this thread.  You aren't mining for the price of Monero now, you are mining for the price of Monero later.  Mine, Hold, repeat.  Long-term hold.

[xxcsu]

let say you are mining monero with 50 gpu in 7 rigs , rx480-8GB cards with modded bios optimized for xmr mining , you purchased those cards a year ago when you was bale to buy for 250$ or less
If you are trying to jump into the mining business now , then ur ROI is definitely going to me much longer than a year ago

You are mining for crumbs....

 

i would love that 2500$ "crumbs" every months  

50 cards - 2529$/months
10 cards - 252$/months
1 card - 25$/months

and the result is with today difficulty (September - 05 - 2017 )

[MinasTirith]

If you are trying to jump into the mining business now , then ur ROI is definitely going to me much longer than a year ago [/center]

That's exactly what I mean xxcsu, to mine Monero TODAY is worthless compared to a year ago....or even a month ago.....

[MinasTirith]

Not too much forward thinking in this thread.  You aren't mining for the price of Monero now, you are mining for the price of Monero later.  Mine, Hold, repeat.  Long-term hold.

That is fishbowl thinking    ....there's a ton of coins out there that are will rise just as much, if not more than Monero, and their difficulty level is but a fraction....   Anyone sticking with Monero versus an up and coming coin is only doing a great service to the Monero community by sacrificing their GPUs  for the crumbs that fall off the table.....when you could be eating steak with a newer coin  

[MinasTirith]

they forgetting something that miners will ride when they see
price jumped up and difficulty will increase so I think its a risk to take for those who wants to continue mining monero.

Totally agree carlisle1, it's indeed time to ride away from this Monero GPU power black hole.....which gives -practically- nothing in return.....

[blucg]

Not too much forward thinking in this thread.  You aren't mining for the price of Monero now, you are mining for the price of Monero later.  Mine, Hold, repeat.  Long-term hold.

That is fishbowl thinking    ....there's a ton of coins out there that are will rise just as much, if not more than Monero, and their difficulty level is but a fraction....   Anyone sticking with Monero versus an up and coming coin is only doing a great service to the Monero community by sacrificing their GPUs  for the crumbs that fall off the table.....when you could be eating steak with a newer coin  

So what would be such a coin? I think it's not a valid argument to say even if you're losing money now because of electricity and low price of the coin because it's going 10x.
If you want to use that strategy you could just buy the coin instead of mining it, right?

[coinfoundry]

Where's the big difference when both price and difficulty increase?

[MinasTirith]

Not too much forward thinking in this thread.  You aren't mining for the price of Monero now, you are mining for the price of Monero later.  Mine, Hold, repeat.  Long-term hold.

That is fishbowl thinking    ....there's a ton of coins out there that are will rise just as much, if not more than Monero, and their difficulty level is but a fraction....   Anyone sticking with Monero versus an up and coming coin is only doing a great service to the Monero community by sacrificing their GPUs  for the crumbs that fall off the table.....when you could be eating steak with a newer coin  

you could just buy the coin instead of mining it, right?

HI blucg, yup, agree with you totally...it would be better to buy coins at some point rather than mine them....don't know if Monero just hit that point, but from the mining point of view....not worth it....there are so many coins out there that give you a much better mid and long term mining return....

whatever hardware you have now, you just saw the MOST you would ever make with Monero last month...this degree of difficulty is not for 3 - 5 (full) running 580 rigs for example....that would be a drop in the ocean with Monero's difficulty level and amount of miners right now....

I really liked this coin....but....when they grow up.....

[MinasTirith]

Where's the big difference when both price and difficulty increase?

If they both increase by the same amount, nothing...but this was not the case with Monero....with the initial pop, it favored your point, but now the value dropped, and the difficulty keeps on getting higher...

[carlisle1]

they forgetting something that miners will ride when they see
price jumped up and difficulty will increase so I think its a risk to take for those who wants to continue mining monero.

Totally agree carlisle1, it's indeed time to ride away from this Monero GPU power black hole.....which gives -practically- nothing in return.....

there's a lots of coins out there or we can simply go back with eth and give ourselves a try maybe its much worthy than monero or some other coins
that will bring much  better results, this forum have a lots of information so better to maximize and learn from the pro.

[MinasTirith]

they forgetting something that miners will ride when they see
price jumped up and difficulty will increase so I think its a risk to take for those who wants to continue mining monero.

Totally agree carlisle1, it's indeed time to ride away from this Monero GPU power black hole.....which gives -practically- nothing in return.....

there's a lots of coins out there or we can simply go back with eth and give ourselves a try maybe its much worthy than monero or some other coins
that will bring much  better results, this forum have a lots of information so better to maximize and learn from the pro.

ETH as such dunno, but an ETH-like coin could be an option

[stomachgrowls]

You can always switch to another Altcoin though, if one turns out unprofitable, find some less-known coin that seems just a tad promising, UBIQ, ZenCash and many others out there. Had tried Monero with my hardware and Minergate, wasn't making much. The minergate miner could be at fault though, didn't try another one.

True,if you found out that it is not profitable anymore on mining Monero then switch into other coin since there are lots of selections out there to be mined.Its not surprising for sudden mining difficulty jump considering that there are lots of people who do mine monero and also this thing isnt just happening on monero alone but most all altcoins in the market which is mineable either on cpu or gpu.