Mining Profitable these days?

[Metroid]

NOt at all, hard to obtain parts and to optimize to get a revenue which gets exponentially harder, mining is for already settled people and some lucky individuals in some countries

Like i said before, mining is pointless, holders have always been the winners, eth used to cost $0.20, 2 years ago and look now, btc used to cost $200 2 years ago and look now. Profit of holders was 2000 times greater than most miners. The only miners who profit big were the ones that held the coins.

And the way things are, we will see another huge jump in prices. btc $25k, eth $3k.

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[sundownz]

Mining is and has been profitable for the entire year of 2017.

Some people have done awesome buying / holding... but I, among others, are more comfortable mining.

For me... mining profits are still what I would consider extremely good even now.

[flip4flop]

Mining is profitable if you holding coins then you have been building your portfolio for months or years and have paid off your rigs and are accumulating more coins at zero cost.  Sure you could invest and make more but you could also lose money you are investing.  Once your rig is paid off you are not risking anything extra at that point which lowers risk.

[bitChipper]

200%?  You mean 800% don't you?  We all see it ... Those Voltas are going to be bought up by China and you'll have to pay 300USD in fees every month to China just to mine.  It's getting crazy out there.  

It would be better to mine coal right now.

Honestly though ... Nothing that NVIDIA will ever put out will be as good as AMD.  NVIDIA is more for the gamer, not the miner.  

Well my math works like this, right now eth is $820, so 200% means $820 + $820 + $820 = $2460.

About nvidia, the titan v 12nm is volta and cost $3000 and is available right now and it can mine eth at 82 mhs, which means, expect lower versions to get speeds like 50 to 70 mhs.

I guess nvidia changed something concerning mining, nvidia wants to be competitive x amd about mining, reason why the titan v 12nm is doing 82 mhs.

How different are the voltas going to be from the vegas? Last time I checked the vegas were a bust but maybe some people have modified the drivers to get better results?

To the OP i must agree with the others its better to just buy and hold at the moment, in my opinion its subsequent to change though. It just seems like there is so much money coming into crypto that investing in a rig doesnt make sense.

I would only do it if you are interested in the process and the building of it. But chances are you will make quicker roi by just buying and holding.

I will say that I build a rig with 6 1070s in July, its almost paid off at this point. Good luck

[bovineplane]

For those disciplined to hold, sure it has been profitable. Remember though we have had previous corrections in the crypto markets and this market should/will correct also. Just a matter of when.

Profits are about timing really. If you did not hold then it matters when you bought and when you sold. Six months from now this market may look incredibly overvalued or very undervalued. Nobody knows for sure.

I mine with 2 HD radeon 7850s that I bought specifically for LTC mining in late 13 or early 14. Mined with them for 8 months or so and had to sell of my equipment. In that time Litecoin ran up then tumbled. I sold some along the way and held the rest. Luckily I forgot about the LTC I held and still have it. Those same two HD 7850s are now mining Monero. They spent 2 years in my son's gaming computer after ending their LTC career.

The coins I sold helped pay for the small GPU farm I ran at the time of ~30 7850s plus associated PSUs and MB/CPU/RAM/HDD. When I calculated at the time I was -$600 after everything was said and done but still had the coins I did not sell. Those coins are now worth mid 5 figures if I sold for fiat. The combined sold coins with what I still hold today would have crossed into 6 figures. I also sent 200 BTC in the early days to order my wife flowers. Held them for about 20-30 minutes from the buy to the send. You can do that math if you like.

If you had bought near the high and watched the coins tumbled then you likely sold locking in that loss. If the majority of people were HODLers then we would get stories everyday of cryptocoin millionaires.

Mining to HODL can never be "profitable" if your basis of profitability is based on fiat currency. If you have not sold then you have never profited and HODLers cannot claim profits they have no locked in. Selling the coins make them not HODLers.

Before asking if mining is profitable, first define what your goal to mining is. If your goal is to sell for profit to pay for equipment then yes, today, mining is profitable. Tomorrow may be a different story. If your goal is to buy coins to catch the wave up because you feel the coins will always rise in value, first realize they will not always rise in value and second just buy coins as a price you are comfortable with. If your goal is to mine and sell then do not pay retail or retail+ for cards. Buy cards at the beginning of the cycle to get the most mining time from them. Vegas and the new Nvidia line will be mining for the next 2-3 years if you stick with it and move to newer coins as difficulty increases. Over that time they will pay for themselves many times over. If you never sell coins though then they will never "profit".

[Wahyu0907]

hi,

if you want more profit better take the specs more up again.

[rphk]

mining is profitable  with electricity charges are cheap and by buying good mining hardware which uses less power consumption. i have seen on the bitcointalk mentioning that normal desktop pc's does not generate any income , need to by special hardware for that like ASIC ,if it is generating more hash rates and electricity charges are less and then there is chance to make some income on crypto currencies.

[Moondoggie]

Mining in Australia where electricity is pretty expensive
Using 1080ti and they roi well, and are profitable enough for me

[Moondoggie]

mining is profitable  with electricity charges are cheap and by buying good mining hardware which uses less power consumption. i have seen on the bitcointalk mentioning that normal desktop pc's does not generate any income , need to by special hardware for that like ASIC ,if it is generating more hash rates and electricity charges are less and then there is chance to make some income on crypto currencies.

My gaming pc, not my rigs is making ~10$ a day on average before taking out the 1.6$ electricity

[laguseklik]

mining is profitable  with electricity charges are cheap and by buying good mining hardware which uses less power consumption. i have seen on the bitcointalk mentioning that normal desktop pc's does not generate any income , need to by special hardware for that like ASIC ,if it is generating more hash rates and electricity charges are less and then there is chance to make some income on crypto currencies.

My gaming pc, not my rigs is making ~10$ a day on average before taking out the 1.6$ electricity

May I know your PC specs? and what coin are you mine?

[fraggyb_]

I can't see mining not being profitable for a long while yet.  People want coins but also the convenience of buying them, which is hard enough for the average new user in crypto.  Unless everything suddenly turns into POS, mining is safe for a good while yet.

[hieuho381]

I can't see mining not being profitable for a long while yet.  People want coins but also the convenience of buying them, which is hard enough for the average new user in crypto.  Unless everything suddenly turns into POS, mining is safe for a good while yet.

I am still getting a lot of profit with Etherum because the price of Etherum is rising a lot while the difficulty remains. Etherum miners are earning high profits every day. You might consider switching to the big altcoin to conduct the extraction to get bigger profits.

[gotminer]

I can't see mining not being profitable for a long while yet.  People want coins but also the convenience of buying them, which is hard enough for the average new user in crypto.  Unless everything suddenly turns into POS, mining is safe for a good while yet.

I am still getting a lot of profit with Etherum because the price of Etherum is rising a lot while the difficulty remains. Etherum miners are earning high profits every day. You might consider switching to the big altcoin to conduct the extraction to get bigger profits.

The big altcoin or the second biggest as far as extracting goes.  I mean ... The second in line has 10% lower extraction fees from rondevu point to base, compared to the huge dick in the room.  Can't give it all away to the noobs, so you'll have to decrypt ... Lol.

[gotminer]

I can't see mining not being profitable for a long while yet.  People want coins but also the convenience of buying them, which is hard enough for the average new user in crypto.  Unless everything suddenly turns into POS, mining is safe for a good while yet.

Buying hardware to mine (with the exception of asic's) is always safer due to the secondary market.  There is no secondary market for asic hardware.

[Lenorag]

everytime same Q

[Core007]

Mining in Australia where electricity is pretty expensive
Using 1080ti and they roi well, and are profitable enough for me

They are trash mining cards, expensive to buy, expensive to mine with most power costs, let alone in Australia.

[xxcsu]

I just wanna ask if mining is profitable these days because I'm planning to create a rig with 5 1070... any software recommend for mining?

  amazing  reading for you here

[niel]

NOt at all, hard to obtain parts and to optimize to get a revenue which gets exponentially harder, mining is for already settled people and some lucky individuals in some countries

thanks for the information mate its very helpful

[Alexarik]

Yesterday I talked with the person who is engaged in mining. He bought equipment for 3000 drolars. A month receives about 0.6 ethereum. I do not know whether this is profitable or not ....

[sale.kripta]

It's not necessary now to beaten the beat, and not the etherium. We need to look for new crypto coins, which are fairly easy to mine now. In the hope that later they will increase in price.