Is mining still worth it for the average person?

[Makak4R]

if you can grab some gpus cards at lower prices then why not?
it is still far higher then electricity cost so you can do it..

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[Castlereagh]

Absolutely awesome responses. Thanks all - I'm going to wait and see if I can snap up some decently priced GPU's over the next few months - but I'm not going to force my way in.

[moldovacoin]

it is not very old but cheap and good now 10-12$ per day income

Radeon RX550
 Great Wall 1560W
 Intel Celeron G1840 c кyллepoм,
 ver. 6.0 (Molex)
 DDR3 Ramsta 2Gb
Samsung 32Gb USB 2.0
: Radeon RX550 2Gb

Colorful C.H81A-BTC V2.0)

[huntingthesnark]

Absolutely awesome responses. Thanks all - I'm going to wait and see if I can snap up some decently priced GPU's over the next few months - but I'm not going to force my way in.

Also worth considering second hand gpus - more risk, but much lower entry costs, assuming cost is a major issue. I started with a few 2nd hand gpus, replaced them with new when I could, gradually expanded.

[meru890]

I would even consider mining even when it's not that profitable at the moment. If you believe longterm in cryptocurrencies and their growth it's sure worth it. Depends really how someone thinks in general about the future. If a coin is x5 in 2-3 years it will be worth the hassle, so buy the cards you can get your hand on :-)

[Kim Ji Won]

You're sure right about cloud mining tho, most of them are scams and if you invested to them, it is only a matter of time before you can't access their websites anymore. I've been there so I can tell.
You can earn a decent amount if you can find a good enough rig for a nice deal and considering you consume 10-15 cents per kw in your electricity, you can have your ROI in less than a year, tho it may seem a long time but it is good enough considering the type of set up you will have at your home.

[manji]

You're sure right about cloud mining tho, most of them are scams and if you invested to them, it is only a matter of time before you can't access their websites anymore. I've been there so I can tell.
You can earn a decent amount if you can find a good enough rig for a nice deal and considering you consume 10-15 cents per kw in your electricity, you can have your ROI in less than a year, tho it may seem a long time but it is good enough considering the type of set up you will have at your home.

Totally agree.
Why someone very confidance to investing the money on cloudmining. There is indeed a legit cloudmining but there an only bit, it's also still risk of collapsing or hacked and also a reason anything. But I know the reason someone would that doing because cloudmining doesn't pay electricity, internet or also doesn't have enough money to build RIG.
Yeah, the best option is build Rig although, at this time the price of build RIG very expensive but that better safer.

[Alyeska]

I would even consider mining even when it's not that profitable at the moment. If you believe longterm in cryptocurrencies and their growth it's sure worth it. Depends really how someone thinks in general about the future. If a coin is x5 in 2-3 years it will be worth the hassle, so buy the cards you can get your hand on :-)

I agree with this as well, it all depends on what your goal is, and whether you need your mining to pay your Electric bills, if you have a day job, and can afford to mine even when at a current loss, simply because you enjoy it, and it is a super fun Hobby, you very well may make out like a bank robber, several years from now, imagine going back in time to when Bitcoin miners turned their rigs off, because of electrical costs (and then mining thousands of Bit coin at a technical loss) only to have it go from $1 to $20,000, those that turned their rigs off, would be kicking themselves to this day...

[blazeaglory]

Even with the inflated prices you’re still better off buying today to start mining ASAP. If the shortage ends tomorrow, then yes waiting was better. If it ends in 4 weeks, then the money you saved wasn’t worth it. It’s just hard to overpay because we remember the prices from 6 weeks ago but dollar for dollar, the prices aren’t inflated enough to make waiting worth it. I’m sure everyone’s opinion will vary.

I agree, but at the same time, some people don't look at what prices were back in November/December.  So they end up paying double what gpu's were going for 2-3 months ago.  I don't think that's a wise move, because there are deals to be had, but you have to know how to get them, and you have to be very very quick.  Now is not the time to go on Amazon, eBay, Newegg, ect. and purchase from resellers who are asking double or more what I paid for the same gpu in November/December.  

Exactly. EBAY roughly August 2017, I scored a lightly used 1080 Windforce for $450. Dude was selling a ton of them after mining for 3months with like 20 of them and accepted my offer for such a low price. I guess maybe he only had 2 remaining and said "f*ck it"?

 Either way, back in August of 2017, Pre November I should say, a decent 1080 was going for $500 to $600. Now they're going for over $700, sometimes more. Its crazy.

My advice would be, if you can find a decent priced GPU or equivalent, then go for it! Only live once and you never know what can happen. Profit margins aren't to great for "little" miners but its fun and maybe at the end of the year you'll have paid your GPU off! Then buy another one and repeat! Hope whichever coin you're mining EXPLODES one day

[Aeon_]

You need at least 3-4K to make a decent profit (lowering your ROI).

[LearningGuy]

You need at least 3-4K to make a decent profit (lowering your ROI).

What if you mine purely with a very long term view? Reality is in South Africa we can’t find cards anywhere and pay a fortune for basic rx 550’s if you can find them. I’m now contemplating building a 13 gpu 550 rig for maybe pirl & verge to just go along and amass some coins. Thoughts?

[gotminer]

You need at least 3-4K to make a decent profit (lowering your ROI).

Lol ... Building bigger rigs does NOT lower your capital recovery timeframe.

[flippener]

I've been interested in mining for about 6 months ago. I've tried a bunch of different ways to do it and have blogged about it on my website - it might be of interest to those about to start mining, and might save them going down some dead ends.

https://bitcoin-investors.co.uk/category/mining/experiments/

[Coffee135]

The profitability of mining depends on many reasons. It is beneficial almost always. But in each case you need to be able to correctly calculate your income. You need to start with electricity. This is about 10-15% of your costs. For example, South Korea has the most expensive electricity in the world. Therefore, mining in this country is impossible.

[Jr.Sasha0209]

Hello. Now, of course, the profitability has disappeared, but I'm on the best. Since everything should grow decently closer to the autumn of 2018. Now the yield from 10 cards is 1060 350 dollars, which is quite and quite good

[Weswayahe]

I think mining still worth, although not as much as the previous year, but at least still have a chance to get results / profit

[moldovacoin]

if bitcoin will 20000 again mining will be profitable

[togoshigekata]

Do you have a CPU? You can start mining CPU coins,
Do you have a GPU (Graphics Card)? You can start mining GPU coins.

Mining is pretty easy, pick a coin, download their wallet & mining software, register and join a pool, start mining!

[Mohondoa]

That depend the miner and how much their hashrates. They just mining or to do something more with their coins. If i am still worth, because i can trading my coins to make some profit, or hold new coins for next months / years. For now mining without "next step" will not profitable. So that's up to them what next step to do.

[Comino]

I think if you even manage to build a rig for that budget, that would be more of a hobby mining than anything else. If that is the goal, go for it )