Is GPU Mining Still Profitable? Should YOU Build a Mining Rig? GPU Mining Dead?

[MTS Coin]

For profitability, do you guys recommend a software like awesome miner or should I just pick a fairly profitable coin that I like and let my machines go to work?

There are many routes to take such as pool switching, algo switching, or coin switching within an algorithm. I recommend speculative mining and hope you hit it big.

[Druiz287]

Yes, it is alive, if build your rig with gtx 1070ti ( which is very balanced with it features, imho) you can get about 3-4 $ per card depend on the coin and difficulity..
So I guess the current ROI time is about 6 month which is rather ok...

Not true. Half that amount according to whattomine. Below $1.83 after electric or $2.26 before electric cost for zcash. Plus irs taxes it as income right away and also later if you cash out further gains later. It's about $1 a day per gpu. Not worth baby sitting your rig . Mining is for losers. Best to buy coins especially now while prices are depressed

I mine and what a dumb mistake, I can't even go on vacation. Only good thing is that gpu went up in value. So far that's where the real money is at.

Paying taxes = Making profits... Since when is being profitable a bad thing?  Besides, if prices are way down, why not sell the coin, realize the loss for tax purposes, and buy it back?  You'd be in the same exact position, but be much lower with taxes.

[VoskCoin]

Yes, it is alive, if build your rig with gtx 1070ti ( which is very balanced with it features, imho) you can get about 3-4 $ per card depend on the coin and difficulity..
So I guess the current ROI time is about 6 month which is rather ok...

Not true. Half that amount according to whattomine. Below $1.83 after electric or $2.26 before electric cost for zcash. Plus irs taxes it as income right away and also later if you cash out further gains later. It's about $1 a day per gpu. Not worth baby sitting your rig . Mining is for losers. Best to buy coins especially now while prices are depressed

I mine and what a dumb mistake, I can't even go on vacation. Only good thing is that gpu went up in value. So far that's where the real money is at.

lol youre right about the vacation think lol
I mean u can go but only if you have a tool like srr

They told me more miners = more vacations xD

[gotminer]

Yes, it is alive, if build your rig with gtx 1070ti ( which is very balanced with it features, imho) you can get about 3-4 $ per card depend on the coin and difficulity..
So I guess the current ROI time is about 6 month which is rather ok...

Not true. Half that amount according to whattomine. Below $1.83 after electric or $2.26 before electric cost for zcash. Plus irs taxes it as income right away and also later if you cash out further gains later. It's about $1 a day per gpu. Not worth baby sitting your rig . Mining is for losers. Best to buy coins especially now while prices are depressed

I mine and what a dumb mistake, I can't even go on vacation. Only good thing is that gpu went up in value. So far that's where the real money is at.

Baby sitting rigs?  Can't even go on vacation?  LOL ... Ever heard of a switched pdu?  My rigs almost never go down, but when they do, I get an email.  When I get that email, I can cycle the power on any pdu outlet that I want from anywhere that I have an internet connection.  I can do it from my smartphone, if I need to.

[gotminer]

Yes, it is alive, if build your rig with gtx 1070ti ( which is very balanced with it features, imho) you can get about 3-4 $ per card depend on the coin and difficulity..
So I guess the current ROI time is about 6 month which is rather ok...

Not true. Half that amount according to whattomine. Below $1.83 after electric or $2.26 before electric cost for zcash. Plus irs taxes it as income right away and also later if you cash out further gains later. It's about $1 a day per gpu. Not worth baby sitting your rig . Mining is for losers. Best to buy coins especially now while prices are depressed

I mine and what a dumb mistake, I can't even go on vacation. Only good thing is that gpu went up in value. So far that's where the real money is at.

Paying taxes = Making profits... Since when is being profitable a bad thing?  Besides, if prices are way down, why not sell the coin, realize the loss for tax purposes, and buy it back?  You'd be in the same exact position, but be much lower with taxes.

Exactly!  You're not paying taxes, if you're losing money.

[john1010]

Yes it's DEFINITELY DEAD! that's why my 7th batch of 10gpu's I ordered online will arrive this week,  And it's not profitable anymore, STOP mining! lol!

seriously mining is a hobby once you started it, you can never stop it.. I don't know why..

[maxmeme]

That’s right. Mining is a hobby and side effect is it can be profitable to when done at the right time frame.

[VoskCoin]

Yes it's DEFINITELY DEAD! that's why my 7th batch of 10gpu's I ordered online will arrive this week,  And it's not profitable anymore, STOP mining! lol!

seriously mining is a hobby once you started it, you can never stop it.. I don't know why..

haha right?! xD

Also as stated above switched PDU are an amazing addition to a mining farm

[Natulat]

That’s right. Mining is a hobby and side effect is it can be profitable to when done at the right time frame.

Mining used to be profitable. Now it is a hobby.

[CryptoJoel]

If you're talking about right now, mining is not very profitable, but it is still earning me more than I'm spending... Right now, I'm only earning about $20/day.  At the market's all time high, I was earning about $200/day.  Plus, while the actual dollar value of what you mine now isn't worth that much, holding your coins until the market goes back up to its previous all time high would be equivalent to as if you had mined it at that time.

[gotminer]

Posting this again  ... When will the fucktards eventually get that this isn't a daily profit game?  I've posted this in two other threads and I feel the need to do it again ...

"I don't know how to tell you this, but you are insanely wrong with part of that.  With the 31 gpu's that I have, I mined various coins and traded for btc in the month of March.  In the month of March, I ended up with 0.18337303 BTC.  If I converted to fiat right now that would equate to $1315.70USD.  My electrical costs (rigs and ventilation) for the month were approx $400USD.  Do the math and tell me that isn't profit.

I bought my gpu's last year at reasonable prices, not much over MSRP.  Not all, but a large portion of my rigs are paid for, if I converted to fiat right now.  I'm not converting to fiat at today's btc price (not even to cover electrical costs).  I'm placing a bet and waiting.  I'm not advocating that someone go out and pay insane gpu prices right now and start building a farm.  But do not tell me that gpu mining (in my situation) is not profitable.  Lol ... It would be insane for me to shut down my rigs right now and sell everything today."

[Cubanlinx81]

Thinking seriously about getting into mining. I looked at a pre assembled rig that has two liquid cooled Nvidia TI1080 cards (22gb). I’m hoping that it will be able to turn a nice profit, because the rig will cost about $8000 USD.

[RYXES]

Thinking seriously about getting into mining. I looked at a pre assembled rig that has two liquid cooled Nvidia TI1080 cards (22gb). I’m hoping that it will be able to turn a nice profit, because the rig will cost about $8000 USD.

If you're going to spend $8000, please do a proper statistical breakdown and forecast and make sure you know you will break even.
Unless you're minted, then otherwise go crazy 

[Midcrypto]

Of course GPU mining is still profitable and anyone saying something different is uninformed or trying to keep you from raising the difficulty on their miners! Especially considering how development teams are now actively taking stances against centralization via ASICS. Over the next 12 months and beyond the picture will become clear what projects truly believe the concept and technology of decentralized blockchains and which ones are out for greed.

A line will be drawn in the sand between PoW cryptos and there will be many that vow to be only GPU mine-able forever which will include scheduled hard forks with greater frequency. The GPU only cryptos will have very strong active communities and thus will maintain a more stable and consistent economy than other PoW algorithms. This is already visible via price stability over the last ~6 months especially with the recent market downturn.

It's all about finding the right project, getting in early and contributing to its growth. There are countless GPU mine-able coins coming out all the time, if you find the right one you WILL be wildly profitable.

[Zulucia]

Of course GPU mining is still profitable and anyone saying something different is uninformed or trying to keep you from raising the difficulty on their miners! Especially considering how development teams are now actively taking stances against centralization via ASICS. Over the next 12 months and beyond the picture will become clear what projects truly believe the concept and technology of decentralized blockchains and which ones are out for greed.

A line will be drawn in the sand between PoW cryptos and there will be many that vow to be only GPU mine-able forever which will include scheduled hard forks with greater frequency. The GPU only cryptos will have very strong active communities and thus will maintain a more stable and consistent economy than other PoW algorithms. This is already visible via price stability over the last ~6 months especially with the recent market downturn.

It's all about finding the right project, getting in early and contributing to its growth. There are countless GPU mine-able coins coming out all the time, if you find the right one you WILL be wildly profitable.

If your electricity price is below $0.1 kWh, you might still invest in mining. But as the ASIC appears in Ethereum, it is better not to invest more at the moment.

[stiucsib86]

For now, the ROI is very very very low.

[gawer33]

I already sold my rigs but it still profitable in my place, the sole reason I sold it is I already got my ROI and rumors about new GPU coming from Nvidia. sold it early before GPU price plummets for me is the best idea.

[CryptoJoel]

I already sold my rigs but it still profitable in my place, the sole reason I sold it is I already got my ROI and rumors about new GPU coming from Nvidia. sold it early before GPU price plummets for me is the best idea.

The GPU prices of the currently available GPUs may go down with the release of a new generation, but that won't change the performance of the cards you already have.  My 1080 Tis will still kick ass. 

[gotminer]

I already sold my rigs but it still profitable in my place, the sole reason I sold it is I already got my ROI and rumors about new GPU coming from Nvidia. sold it early before GPU price plummets for me is the best idea.

The GPU prices of the currently available GPUs may go down with the release of a new generation, but that won't change the performance of the cards you already have.  My 1080 Tis will still kick ass. 

New gpu's that are capable of higher hash rates will drive up difficulty faster than it would be driven up if a specific network hash rate just stayed the same with current hardware.  Difficulty increase will result in older cards being less profitable to mine with.  That's not to say that I would be selling off my 1080ti's right now.  I don't see myself doing that in the near future.  I think that in the near future, I will sell the 1070ti's that I have though.  I'd like to have some capital to replace those with newer gen gpu's.

The other thing I'm thinking about is using the capital from the sale of my 1070ti's to buy Vega's.  We're not seeing anti-asic fork support from anyone at the moment other than those coins that are better mined with Vega's.

I'll never bet it all on one thing though ... I'll always have a mix of hardware for mining in addition to my direct investments into various coins. 

[racebum]

For now, the ROI is very very very low.

did you see the price to hash on these? it's really not that big of a worry. 1800-2000 dollars + shipping + customs for what? roughly 6x580s and i suspect you could get those 6 580s better tuned, you also get a  3yr warranty and better resale. maybe the asic will be more energy efficient at 800w but it's not going to be a lot. the rx580 if prices normalize should be a $230-299 card. at 300 each you have 6x300 + 200 for a mb/cpu/ram which is 2k. add in $200-220 for a nice 1000-1200psu and there you are. very comparable prices