Why do you small timers even bother?

[marvel213]

I have 38 video cards.  My goal is to keep adding more until I can turn this into 100k a year mining facility.  Does this make me a small time miner?

I can live off my mining rigs currently.

[rlkiwi]

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.

interesting, i have a 1080gtx, every month i make about $20, the old saying $20 is $20! i run my PC 24/7 anyway so its not a big deal for me

[GazWales]

I have a small dedicated rig and my gaming machine running 24/7 - costs me £100-£110 a month in electric and was making after electric 800 a month profit. Cut that in half at the moment but 400x12 is still £4800 a year profit - thats a decent holiday for little work. Well little work now its all working ok! As others have said build it, leave it earn and carry on with day job its a nice little bonus!

& as paid in Bitcoins which im HODL, hopefully will go back up to higher profits come summer time..

[Metroid]

GPU mining was never meant to be done with many gpus in one location, cause that is bad when we think about network decentralization, imagine if every gamer in the world could use your gpu for mining and only one gpu for each algo, that would be amazing, the cryptoworld would be a much better place right now. I hope the next generation of cryptocoins kill the gpu farming idea cause is a terrible idea which does not help anything really and you greedy bastards that only think about increasing your gpu farming would have to change the way you view cryptocoins.

[flippener]

I think people take it too seriously. You don't have to have big farms - just run your GPUs when you're not using them, and have them pay for themselves.

[lunobird]

Payouts are half the amount dollar wise and gpu prices are twice as much compared to last year. Yet people are still trying to gpu mine?  There's plenty of bitmain asics that will give better returns.

[JukNi]

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.

• First define what is small timer? 1 or 50 GPUs ?
• How big is your "big timer" mining farm ? Not just the words, we want the good proof that you are one of the most awesome miner.
• There will be allways somebody bigger than you, so... who cares   

[QuintLeo]

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.

Because it's dollars they would not have - there is no point to NOT mining with gear if you already have it.

I suspect even most small-scale miners pull in a lot more than "a couple dollars a day" anyway - that's SINGLE GPU territory in many cases.

Also, why do you ASSUME they don't have a "regular job"?


And to be blunt about it, GPU mining right now is a LOT more profitable on a $/watt basis and in some cases on a $ per dollar INVESTED basis than most ASIC return, with a lot lower risk.


38 cards is what I'd call "medium scale home miner" or "very small scale pro", depending on the specific cards. 18 1080 ti > 38 RX 460....

[QuintLeo]

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.

Buying parts to build GPU rigs with is not "highly speculative", as there will be SOME remaining value to the parts even if profitabilty collapses.
Buying COIN with a credit card would be "highly speculative".

[QuintLeo]

It's only going to get worse from here on out.  The big boys are coming and setting up massive farms and eventually the little guys will be left with pennies as the difficult increases tremendously.

Hint - the "big boys" were here long before YOU started mining.
If you know HOW to make your rigs efficient, and are located in an area with low-enough cost electric, you CAN compete with them - lower overhead for starters - even as a fairly small operation.

If you're a SMALL scale part-time miner, you don't HAVE overhead, or barely have any.

[JustJakeMake]

I really want to have a go a mining to better understand the concept. Fully understand that it's not going to be profitable, however it could work to mine newer coins that could increase in value.

[BaNgTHai]

Im a small farm and the amount of work that I have to do to consistently make money every month is freaking my boggling. Mining is here to stay. You dont have to start off big buy one and keep adding. Thats what I did. Btw i dont have a big farm

[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).

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.

Buying parts to build GPU rigs with is not "highly speculative", as there will be SOME remaining value to the parts even if profitabilty collapses.
Buying COIN with a credit card would be "highly speculative".

I would say someone is an idiot too is they bought coins with credit. I have never bought COINS with credit.

I have bought all my gear with credit and then paid off the credit because that's what financially responsible people do... So the 22 new GPUs and Mobos and PSUs I bought before the mad rush of GPUs and other equipment was well worth it. $10,000 total in gear and electrical services and already $7,000 is paid back. so the $3000 I still owe have 10 months to pay that off without interest and I am using the reward points from that purchase to go to the ocean for a week with my family in 2 weeks.

Most people are NOT financially responsible. that is why banks are not allowing people to buy crypto anymore with there CREDIT CARDS.

but then again, I'm sure everyone here who says people are idiots for using credit are probably the ones with horrible credit, or lack of financial knowledge. Not there fault though, in the USA, people don't want to teach people how to be financially responsible anymore. Schools do not teaches about how to use credit or banking services anymore and most people are left on there own to figure it out.

I am not an licensed financial advisor so I would never give someone specific advice for there situation, but I can show people a million ways to make credit work for you as long as you are responsible to pay it back.

[lunobird]

I bought bitcoin at $2200 and all my mining gear on credit cards.  I even borrowed half of my 401k to buy eth at $50. Nearly maxed out my credit cards

Lets say I have no regrets using credit or borrowing from 401k. .  And I am financially responsible and have a 800 plus credit score.

All is paid off and yes it was a risk at the time but looking back it was the best life changing move I've made.  If all went south I would still be okay but struggle a bit, so it was a risk i could afford to lose.

I however no longer recommend using credit card to buy coins since you pay cash advance fees on it now on top of coinbase fees etc.  No longer an option worth thinking about.

[badfad]

I have started mining with a r9 380 2Gb in 2016 around the eth hard-fork, I remember shitheads yelling around here "POS is gonna be here soon, mining is dead" .
The only regret that I have is that I traded most of the eth mined wayy too early for more gpus, still that's not a bad outcome

[xxcsu]

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.

If you where a small miner 10 years ago , and mined only 100BTC with a few gpu's , and saved that 100 BTC , what's that 100 BTC worth today ?

If you where a small miner and mined a 100 ETH in 2013 easy with a few gpu's, and seaved that 100 ETH , what's that 100 ETH worth today ?

And there is to many examples like those above to write it down in this topic ...

Think this way , then you are going to understand why is worth mining as a hobby just with a few gpu and save those coins ...
its a kind of lottery , but you might can hit a jackpot If you already have a hardware why not using that hardware for mining ...
I think a lot of us started as a hobby miner ...

[kjs]

How would you classify a 2000 GPU mine?

[philipma1957]

Payouts are half the amount dollar wise and gpu prices are twice as much compared to last year. Yet people are still trying to gpu mine?  There's plenty of bitmain asics that will give better returns.

asic = shit warranty

gpu = good warranty

most of my gear is now gpu due to asic warranty policy

[marvel213]

How would you classify a 2000 GPU mine?

2000 GPU is baller.   

[Tidsdilatation]

Most of us "Small time miners" dont do this becourse we are chasing profits. Its an great complicated hobby to use our minds on. but fyi "small time miners" dont do it full time, atleast i dont. I got a regular job and if we count the last 3 years of "SMALL TIME MINING" ive made as much from mining as ive done from my daily job only due to HODL and smart investments.