Mining now is it too late?

[siforek]

Mining is a long term investment strategy. If you are looking to make quick cash by investing in a mining rig, that's probably not going to happen and you should listen to your friends. If you don't care about making a quick profit and want to accumulate coins for the long term instead, then mining is certainly an option.

Thant's what I'm doing. I was able to get 5.3cents/KWh & while difficulty is always rising it seems to me anyone smart enough to not expect fast returns & is willing to adjust their strategy with the market can still do well. I'm mining Eth right now but I'm watching many other options everyday always looking for the changes.

[Edsemen]

Mining is a long term investment strategy. If you are looking to make quick cash by investing in a mining rig, that's probably not going to happen and you should listen to your friends. If you don't care about making a quick profit and want to accumulate coins for the long term instead, then mining is certainly an option.

Thant's what I'm doing. I was able to get 5.3cents/KWh & while difficulty is always rising it seems to me anyone smart enough to not expect fast returns & is willing to adjust their strategy with the market can still do well. I'm mining Eth right now but I'm watching many other options everyday always looking for the changes.

That's a better idea, you should be more careful on how the coins that you are mining went well. For me it's not going to be bad now for eth and as it rises lately it's current value. That's why people who invest for it nowadays begun to hold their token and other investors also buying eth same as you are mining it.

[xxcsu]

Hi guys,
i had known about crytocurrent five months ago, but i only trading. The current market is unstable so I decided to keep it. i'm studying about mining, but my friends, they tell me forget it, present difficulty is too high. i don't mining BTC or ETH. Mining other small coins is easy but low profit. what should i do now?. please give me advice.

I would not say is to late to get into mining , i would say right now its not the best time

There is a lot of factors you need to consider about ...
Mining is a long term investment...
Investing into mining is a little bit gambling right now...

Yes difficulty is going sky high , but if the coin/fiat exchange rate somehow following the difficulty growth you are still good

Mining is still profitable , but the ROI time is much more longer than it was 3-4 or 6 months ago

Members suggesting to use profit calculators .. you need to understand those calculators is for just that moment when you typing your information , its not calculating difficulty increase , or Coin/Fiat price increase/decrease for tomorrow

One of The most important thing when you thinking about get into mining ... how much your paying for electricity , kwh/$ or kwh/euro ,  make sure all the taxes included in your kwh/$ or kwh/euro price.

[ahmedjamal1998]

Well I can't start right off the bat say that if had started five months it would have been much better. Profits from mining are getting lower and lower. Mining profits is controlled by the difficulty of the network. More diff.= less profits. And as more and more people start mining the diff. goes up.

In the past few months, mining got so much hype and everyone bought gpu cards and started their own mining rigs which pretty much explains why all cards are either sold out or are for insane prices.

I started two months ago and I can say that it's not bad considering that my electricity is not expensive. I pay about $0.045/kwh.
 

Electricity in my country is $0.1/kWh.

That's a lot. If I were you I'd actually not get into before doing the maths and calculating how many months needed to ROI (keeping in mind that your calculations can be useless if diff. goes up for example.)

It's really your and only your decision. Think about it and since you're trading as well compare it with the profits of trading and do the better.

Good Luck.

[nikolaich]

you can count your profit by yourself here https://whattomine.com

Yeas. Quite a nice source of info.

Look what Bitmain is doing do Dash difficulty with its Antminer D3

[MaxDigger]

Yes, if you are referring Bitcoin as your mining cryptocurrency. There is no way you can mining bitcoins through GPUs.
No, if you are willing to try mining other Altcoins but also under the condition that you have access to cheaper electricity.

[Metroid]

Another thing is that you noobs think is profitable but in truth is not and you will be in debt soon. It happened to many people that I know, they thought it was profitable and in the end it was not. they had to sell computer parts to pay the bills and give up mining.

[sevenmiles]

Hi guys,
i had known about crytocurrent five months ago, but i only trading. The current market is unstable so I decided to keep it. i'm studying about mining, but my friends, they tell me forget it, present difficulty is too high. i don't mining BTC or ETH. Mining other small coins is easy but low profit. what should i do now?. please give me advice.

you should just pull out the calculator, and spend about five to ten minutes, and you will have the conclusion, right?
your return on investment = ( hardware investment ) / (daily mining revenue - daily electricity cost)
you can easily find the price of any miners, right? here or Google
and you can easily find the online calculator of daily mining revenue of most popular coins, right? here or Google
and you know your electricity rate, right?

 

[Marvell2]

Eth hash rate dropped like nealy 15 percent this weekend as dummies exit

[Metroid]

Eth hash rate dropped like nealy 15 percent this weekend as dummies exit

eth network hashrate is still the same, no changes since the difficulty bomb.

[Ultegra134]

It's too late to invest your funds to get into mining, I did it a few months ago and yet to achieve the full return of my investment. The earnings have dropped tremendously the past month rendering it unprofitable to run a machine 24/7, especially if you have high energy costs.

I highly doubt that anything will change for the better any time soon.

[Jdope]

I don't really think mining is dead, i don't think it will ever be 'dead' if you have decent electricity costs, it might take much more to ROI but its still a better investment than the bank, and its not really a lot of work

[Phantoms001]

It depends on your circumstances and what you want to get out of it. I'm new to mining, it's a learning experience. I'm gaining a large amount of hardware knowledge and it's introduced me to crypto in a relatively low risk way. The cards I use haven't lost any resale value as I bought them used and I'm looking after them in terms of temps and fan speeds. This also mean my ROI on each card is less than 3 months.

lol,

We did the same thing.  We started a few months ago buying used gtx 970s off Craigslist and Facebook marketplace for 100.00.  You can always find someone that needs money really bad for bills and things like a computer or computer parts are the first thing to go.  We just kept adding what ever cards we could that were cheap. 

Even with prices coming down if you were to get into mining at this point with new gear I think you would have a tough way to go.   I don't think its too late if you want to get in with cheap used gear. 

[papasmurf1337]

I would invest into ICO

[Metroid]

I would invest into ICO

stay away from, ico scam.

[joshuaj]

I would invest into ICO

stay away from, ico scam.

Yes, I agreed. Most ICO are scammed. So, it is better you start mining at some alt coins.

[hyet24]

It's too late for on demand profit but long term its not too late.   You should just mine the coin your doing and promote the crap out of it and see how it goes.   2013 the bitcoin increase by 50 times from YTD.   ATM its 4 times.  Getting more people involve like using it and of course mining it can boost the popularity even more.

[dave4925]

You will more than likely never return on investment if you bought gpus now.  You could buy ASIC machines when they come with a new, faster version of hardware and buy as many of them as you can right when they come out.