Why do you small timers even bother?

[nsummy]

Why even bother to mine with a few minres and earn a couple of dollars a day.  Mining is only worth it if you can build a big farm with a lot of capital.  Most of you guys are better off working a regular job and just buying crypto.

False..!
I used to mine some LTC back in 2013..with 3 Radeon 280x .. mined 2 LTC/day for a few months.. So i was getting 4-5$ per day..

Look how much this worth right now...

Ya but the point is you could of spent the time you used on mining to work other jobs or make more cash and buy way more than 2 litecoins a day back then.  So it kind of makes mining pointless for small timers.

As others have said, small time mining is a subjective term, but anyone who has a mining rig that is earning a couple of dollars a day has 1 or 2 cards.  Most certainly they are already working, independently wealthy, a student, homeless, or any other status.  Yes the argument can be made that the time spent setting up your mining rig could be spent working somewhere else.  Guess what though, after the time spent working equals the time the time spent building your rig, you need to either keep working to earn more, hope whatever you invested in rises, or SPEND MORE TIME reasearching the market so that you can trade your investment.  Lets not forget the time you would have to spend looking for this job, and the freedom you would lose having to work a set schedule.  With mining you dictate how much time you spend and when you spent it.

Also do not forget that almost all miners who have large operations more than likely started out small.  Most things in life do not get large immediately.

[treanski]

Why even bother to mine with a few minres and earn a couple of dollars a day.  Mining is only worth it if you can build a big farm with a lot of capital.  Most of you guys are better off working a regular job and just buying crypto.

paying around 200$ electricity/ 12rx 580 rig/month, earning around 1000-1500$/ Rig/ Month....yeah completly worthless without big farm.

[th00ber]

2015, My 2x7970 in crossfire bought used ~150$ each were mining 2 ETH/day
wich was something like 2$/day

So why not ? 

[NateDoggETH]

If you have good credit, I would buy mining equipment with credit cards (find one with 0% interest for 24+ months) and use that card for your mining expenses. I get as many reward points as I can this way.

That is like me having 3 jobs at that point.

1. main job that I would not quit
2. mining (5 rigs and will continue to grow)
3. reward points paying for vacations or other fun things I wanna do (I am not paying anything really from my own bank account at that point)

All this can be done and if you did it the right way (paying off each month).

[fanatic26]

If you have good credit, I would buy mining equipment with credit cards (find one with 0% interest for 24+ months) and use that card for your mining expenses. I get as many reward points as I can this way.

You sir, are an idiot. Telling people to buy this stuff on credit is far and away the dumbest piece of advice you can offer anyone. If you are too poor to buy a mining rig, putting one on credit will just put you more into the hole. It takes money to make money and buying mining equipment on a credit card is the perfect way to dig yourself into even more debt.

[green547]

If you have good credit, I would buy mining equipment with credit cards (find one with 0% interest for 24+ months) and use that card for your mining expenses. I get as many reward points as I can this way.

That is like me having 3 jobs at that point.

1. main job that I would not quit
2. mining (5 rigs and will continue to grow)
3. reward points paying for vacations or other fun things I wanna do (I am not paying anything really from my own bank account at that point)

All this can be done and if you did it the right way (paying off each month).

I agree with the other guy , your an idiot.  Buying HIGHLY SPECULATIVE things with credit is extremely stupid and can leave you flat broke and in debt.

[ASIC Miners]

Were you under the impression that people here just built one rig and watched it all day, and didn't have a job?  How would they have afforded to build a rig in the first place?

What a moron.

Dad's small loan of a million dollars

[shrekinator]

Most small-timers have jobs or they wouldn't be able to survive. It's something fun to do while earning money without too much effort.

[binkyj357]

Yeah, so, six cards running (2x 1050, 2x 1060, 1x 1070, 1x 1070ti), and even with prices not being as high as they were, I'm typically pulling about $250/month. That's Just GPU money. I don't even bother calculating what I bring in w/ my CPUs or POS mining. I work a decent paying desk job, and can actually watch my pools/exchanges while I'm there. I grew up in a, let's say, less than wealthy family. While this may not be everyone's experience, I'd still mine if I barely turned a profit based just on the fact that it's passive income.

[lunobird]

If you have good credit, I would buy mining equipment with credit cards (find one with 0% interest for 24+ months) and use that card for your mining expenses. I get as many reward points as I can this way.

You sir, are an idiot. Telling people to buy this stuff on credit is far and away the dumbest piece of advice you can offer anyone. If you are too poor to buy a mining rig, putting one on credit will just put you more into the hole. It takes money to make money and buying mining equipment on a credit card is the perfect way to dig yourself into even more debt.

A lot of business started off with loans and debt and take a few years to be above water.  I see this quite similiar but on a smaller scale.  I have no regrets maxing out my CC .  NO risk no reward. .  Heck GPU prices even gone up.  Their is really zero risk mining but also gains are not as lucrative as buying.

Imagine if you decided to hold off on buying gpus last year, You would have missed the whole rally and paid double for gpus now. Fundamentals will say never fund things on debt but the stats and facts will always tell a different story.  Best time to mine will always be months ago, not months ahead.

[Patwig]

Why even bother to mine with a few minres and earn a couple of dollars a day.  Mining is only worth it if you can build a big farm with a lot of capital.  Most of you guys are better off working a regular job and just buying crypto.

False..!
I used to mine some LTC back in 2013..with 3 Radeon 280x .. mined 2 LTC/day for a few months.. So i was getting 4-5$ per day..

Look how much this worth right now...

Ya but the point is you could of spent the time you used on mining to work other jobs or make more cash and buy way more than 2 litecoins a day back then.  So it kind of makes mining pointless for small timers.

Nah, I already work 50+ hours a week in IT. Are you suggesting I should get a second job? I suppose I could find second shift server admin or help desk, but I'd rather have a life. Mining+stock market+Swagbucks type phone farm earns me thousands in passive income a year. I think I'll use "that other time" to do something I enjoy rather than worry if my investments aren't earning as much as another 20 hours of work a week would. Plus I fall to see how anyone involved with tech and investments could not find mining interesting to say the least.

[leonix007]

If you have good credit, I would buy mining equipment with credit cards (find one with 0% interest for 24+ months) and use that card for your mining expenses. I get as many reward points as I can this way.

You sir, are an idiot. Telling people to buy this stuff on credit is far and away the dumbest piece of advice you can offer anyone. If you are too poor to buy a mining rig, putting one on credit will just put you more into the hole. It takes money to make money and buying mining equipment on a credit card is the perfect way to dig yourself into even more debt.

Idiot? Really? are you telling this without getting into water did you, if you're into it the story changes, started my 1st rig year 2016 on CC's with decent low interest, already ROI'd and paid in full. have now additional 5 rigs

A lot of business started off with loans and debt and take a few years to be above water.  I see this quite similiar but on a smaller scale.  I have no regrets maxing out my CC Smiley .  NO risk no reward. Tongue .  Heck GPU prices even gone up.  Their is really zero risk mining but also gains are not as lucrative as buying.

Imagine if you decided to hold off on buying gpus last year, You would have missed the whole rally and paid double for gpus now. Fundamentals will say never fund things on debt but the stats and facts will always tell a different story.  Best time to mine will always be months ago, not months ahead.

People are really speculative, doing business is not only if you have money in your pocket, sometimes you need guts to get things done.

[jmigdlc99]

Don't let your selves get discouraged by FUD and posts like this. Stay positive. They've been saying #miningIsDead for months now and yet here we are.

If you look closely, many people have also said they've already ROI-ed on their rigs. Its all a matter of perspective. Yes there are plenty risks involved but i for one am happy taking the risk with my mining rigs. More than 50% done ROI on 3 rigs here.

[asiaamal1]

I think some people are mining because they are hobbies, although the profit is not much. but if the benefits are collected over a long period of time the results are also quite unruk used in expanding your current operations and build up from there. 

[Zepp74]

Its obvious alot of people are jaded on here and want you to quit mining so they can get more profits. People need to chill out and let us small time miners have some fun.

[manji]

yeah, if you want to build a big farm like the Genesis farm, with a lot of capital. I know for atm, build one RIG not cheap, maybe have another way like buy part by part from hardware. for a problem income whether profit or loss, it depends on from the management miners on his income.I have 5 Rig and the mining profit enough big in my country. and I still worked like usually.

[that1lurk3r]

Why even bother to mine with a few minres and earn a couple of dollars a day.  Mining is only worth it if you can build a big farm with a lot of capital.  Most of you guys are better off working a regular job and just buying crypto.

I been thinking the same thing. At what point is it considered a farm? Currently have 3 1070ti, 11 1070, 1 1080. Currently mining zencash at this very moment its bringing in ~$900 a month, and I pay .10 kwh.

[coins4commies]

https://en.wikipedia.org/wiki/HP_Garage

small timer

[practicaltexan]

You still haven't defined small timer. 

And this seems like a baited reactionary question.  But I'll bite

I have 3 rigs and soon have 4. 

If I bought crypto and it went to nothing.  What would I have.....nothing.

If I bought mining equipment and crypto went to nothing.  What would I have?  Assets that I could sell on ebay to limit my losses. 

It's called stability and once you get it going.  Just check in on it a few times a day to make sure its running.

[maxmeme]

Small mining farm has its benefits where we can switch to different coins easily as well as difficulties in running small farm is much lesser. This then bring the issue of how many people required to run the farm as most of us mining here operates solo. It is mostly one or two man shows. No of rigs can ranges from up to 50 rigs for one person to handle as well as all the available electricity supply. Small miners can hodl coins better as the risk is lower and thus has potential benefits in longer term.