Mining , still worth it?

[QuintLeo]

Nope. The days of 1 year ROI on GPU are gone. Also there is no magic  coins.

Not gone yet if you don't pay GOUGE pricing and don't have high electric cost.
The days of 2-3 MONTH ROI however appear to be gone, barring another major price JUMP like a year ago or the introduction of a new coin like ZEC that gets crazy-high priced in it's first week or two.

[1714766051]

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[1714766051]

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[Piskeante]

NOT WORTH AT ALL.

Today, just today, more than 14.000GH/s entered ETH. ETH mining is just disgusting nowadays, almost no profit, high difficulty, very low price, and if you live in a country with high electricity cost, you will not get even for a good meal a month.

And this in the best scenario. because once ETH switches to PoS (around 6 months in think), there will be almost no altcoin profitable and stable to mine for profit. And that's also considering that you will be able to trade that coin into dollars or trading them for BTC.

Are you reading this and considering to buy a mining Rig?? DO NOT DO IT, or you´ll regret it.

[gotminer]

Nope. The days of 1 year ROI on GPU are gone. Also there is no magic  coins.

Not gone yet if you don't pay GOUGE pricing and don't have high electric cost.
The days of 2-3 MONTH ROI however appear to be gone, barring another major price JUMP like a year ago or the introduction of a new coin like ZEC that gets crazy-high priced in it's first week or two.

Apparently he wasn't paying attention to MSRP when he built his mining rig and ended up paying too much over.  I'm mining with 31 gpu's that were purchased 5%-8% over MSRP, and I'm doing just fine.  Not getting the crazy high daily returns that I was in December and Janurary, but that doesn't make it a losing game.  Especially for someone like me who is not cashing out into fiat.  I've yet to sell any crypto for fiat that I've ever mined and have no plans to until the time is right.

[Piskeante]

Nope. The days of 1 year ROI on GPU are gone. Also there is no magic  coins.

Not gone yet if you don't pay GOUGE pricing and don't have high electric cost.
The days of 2-3 MONTH ROI however appear to be gone, barring another major price JUMP like a year ago or the introduction of a new coin like ZEC that gets crazy-high priced in it's first week or two.

Apparently he wasn't paying attention to MSRP when he built his mining rig and ended up paying too much over.  I'm mining with 31 gpu's that were purchased 5%-8% over MSRP, and I'm doing just fine.  Not getting the crazy high daily returns that I was in December and Janurary, but that doesn't make it a losing game.  Especially for someone like me who is not cashing out into fiat.  I've yet to sell any crypto for fiat that I've ever mined and have no plans to until the time is right.

i have a 10 gpu rig and all cards were bought from 15-20% cheaper than MSRP. If you consider actual prices , i saved more than 50% of it's current value for each card.

and Still, i almost get any profit noticeable. my gpus are Sapphire rx 580 nitro+ and 570 nitro+ with 8gb, most of them doing 32mh/s with almost no mem errors which gives me 316,4 mh/s combined. and still, not worth at all.

I would advice noone to enter mining nowadays. Specially if you have to pay those huge prices for GPU.

[dimpsk]

Nope. The days of 1 year ROI on GPU are gone. Also there is no magic  coins.

Not gone yet if you don't pay GOUGE pricing and don't have high electric cost.
The days of 2-3 MONTH ROI however appear to be gone, barring another major price JUMP like a year ago or the introduction of a new coin like ZEC that gets crazy-high priced in it's first week or two.

Apparently he wasn't paying attention to MSRP when he built his mining rig and ended up paying too much over.  I'm mining with 31 gpu's that were purchased 5%-8% over MSRP, and I'm doing just fine.  Not getting the crazy high daily returns that I was in December and Janurary, but that doesn't make it a losing game.  Especially for someone like me who is not cashing out into fiat.  I've yet to sell any crypto for fiat that I've ever mined and have no plans to until the time is right.

Ya kidding me.  A'm filling nice too. And I am not changing coins to fiat now for the simple reason. It is not worth it. The revenue is only twice bigger than electricity costs.
I bought GPU at one half chipper current prices.
And MSRP doesnot mean  nothing here.  The only  matters is ROI.
Current ROI - if you bought GPU right now is 3 years. It'is too much apparantly.

[Tidsdilatation]

Im currently selling all my cards, and there are two reasons for this. three accually. The prices of GPUs are so god damn high right now that im getting MORE when im selling them compared to when i bought them brand new. The second reason is that there is coming new Nvidia cards in about 2 months. And ofcourse the low profitability atm.

[gotminer]

Nope. The days of 1 year ROI on GPU are gone. Also there is no magic  coins.

Not gone yet if you don't pay GOUGE pricing and don't have high electric cost.
The days of 2-3 MONTH ROI however appear to be gone, barring another major price JUMP like a year ago or the introduction of a new coin like ZEC that gets crazy-high priced in it's first week or two.

Apparently he wasn't paying attention to MSRP when he built his mining rig and ended up paying too much over.  I'm mining with 31 gpu's that were purchased 5%-8% over MSRP, and I'm doing just fine.  Not getting the crazy high daily returns that I was in December and Janurary, but that doesn't make it a losing game.  Especially for someone like me who is not cashing out into fiat.  I've yet to sell any crypto for fiat that I've ever mined and have no plans to until the time is right.

i have a 10 gpu rig and all cards were bought from 15-20% cheaper than MSRP. If you consider actual prices , i saved more than 50% of it's current value for each card.

and Still, i almost get any profit noticeable. my gpus are Sapphire rx 580 nitro+ and 570 nitro+ with 8gb, most of them doing 32mh/s with almost no mem errors which gives me 316,4 mh/s combined. and still, not worth at all.

I would advice noone to enter mining nowadays. Specially if you have to pay those huge prices for GPU.

I wasn't talking about you.  I was talking about dimpsk.  Throwing numbers around that may be correct today for his specific situation, but could dramatically change with the snap of a finger in either direction.  I wouldn't advise anyone to get into mining.  Now is not the time to buy gpu's.  There are a lot of get rich quick types trying to get into mining right now who don't understand the variables.  And then there are a lot of people who think todays math will be the same tomorrow.  Not going to happen. 

Bottom line is that if you're making more than you are paying in electricity, it's still profitable.  If you jumped in before doing the proper research and paid way too much for your hardware, that's your own fault.

Being "worth" it is subjective.

[gotminer]

Nope. The days of 1 year ROI on GPU are gone. Also there is no magic  coins.

Not gone yet if you don't pay GOUGE pricing and don't have high electric cost.
The days of 2-3 MONTH ROI however appear to be gone, barring another major price JUMP like a year ago or the introduction of a new coin like ZEC that gets crazy-high priced in it's first week or two.

Apparently he wasn't paying attention to MSRP when he built his mining rig and ended up paying too much over.  I'm mining with 31 gpu's that were purchased 5%-8% over MSRP, and I'm doing just fine.  Not getting the crazy high daily returns that I was in December and Janurary, but that doesn't make it a losing game.  Especially for someone like me who is not cashing out into fiat.  I've yet to sell any crypto for fiat that I've ever mined and have no plans to until the time is right.

Ya kidding me.  A'm filling nice too. And I am not changing coins to fiat now for the simple reason. It is not worth it. The revenue is only twice bigger than electricity costs.
I bought GPU at one half chipper current prices.
And MSRP doesnot mean  nothing here.  The only  matters is ROI.
Current ROI - if you bought GPU right now is 3 years. It'is too much apparantly.

You're not even using the correct terminology.  It's not ROI, it's called capital recovery.  And you cannot calculate a capital recovery time frame without a hardware price.  Right now is NOT the time to buy gpu's.  MSRP does mean something.  Most retailers are not going to sell you something below MSRP. 

[yhoga45]

Maybe if your electricity is free or cheap mining is still worth, but if your electricity cost is expensive is not worth. Remember, a lot of peoples mining and it makes coins difficultly increased and the market condition is not supported now.

[gotminer]

Maybe if your electricity is free or cheap mining is still worth, but if your electricity cost is expensive is not worth. Remember, a lot of peoples mining and it makes coins difficultly increased and the market condition is not supported now.

I'm glad I don't have to deal with this level of ignorance and short sightedness at my day job.  I'd go crazy ... Lol.

[hanlieuiypm9832]

Maybe if your electricity is free or cheap mining is still worth, but if your electricity cost is expensive is not worth. Remember, a lot of peoples mining and it makes coins difficultly increased and the market condition is not supported now.

You are right. The mining market is very mature now, there are plenty of companies running their mining farms all over the world. The key factors are electricty price and calculate power(equipment).

[dimpsk]

Maybe if your electricity is free or cheap mining is still worth, but if your electricity cost is expensive is not worth. Remember, a lot of peoples mining and it makes coins difficultly increased and the market condition is not supported now.

I'm glad I don't have to deal with this level of ignorance and short sightedness at my day job.  I'd go crazy ... Lol.

I see that you're going crazy. It's  good.  But what is your point in this discussion?
Is it worth to buy new equipment for mining now or not?

[dimpsk]

Maybe if your electricity is free or cheap mining is still worth, but if your electricity cost is expensive is not worth. Remember, a lot of peoples mining and it makes coins difficultly increased and the market condition is not supported now.

You are right. The mining market is very mature now, there are plenty of companies running their mining farms all over the world. The key factors are electricty price and calculate power(equipment).

Agree with that. One can keep mining if electricity costs lower then mining return. But buying any new equipment is not a good idea  now and may  be  it's  not a time to consider mining as a busines. It is fun that can provide a free pizza. Something like this.

[socks435]

Maybe if your electricity is free or cheap mining is still worth, but if your electricity cost is expensive is not worth. Remember, a lot of peoples mining and it makes coins difficultly increased and the market condition is not supported now.

You are right. The mining market is very mature now, there are plenty of companies running their mining farms all over the world. The key factors are electricty price and calculate power(equipment).

Mostly companies are GPU distributor and then they resell their cards for higher price. They earn from mining and earn from distributing the cards..
That's why the difficulty is getting more increases and the price of cards is getting increase because they are holding gpu while mining then they resell them in higher price..

As of now i still getting profit but it takes year before a can break my ROI so before i break the roi i think selling them would be the best choice because i think nvidia or AMD will release a new graphics card with higher performance than to old cards.

[gotminer]

Maybe if your electricity is free or cheap mining is still worth, but if your electricity cost is expensive is not worth. Remember, a lot of peoples mining and it makes coins difficultly increased and the market condition is not supported now.

I'm glad I don't have to deal with this level of ignorance and short sightedness at my day job.  I'd go crazy ... Lol.

I see that you're going crazy. It's  good.  But what is your point in this discussion?
Is it worth to buy new equipment for mining now or not?

My point is that I don't agree with your statements.  I agree that no one should be over paying for gpu's.  I don't agree with your statement about what you call ROI, but is actually called capital recovery.  There's no point in trying to calculate it for any reason other than to give yourself a baseline.  The market is so volitile that what you say will take 1 year could change to 6 months in four days.  Making blanket statements like that isn't useful to anyone new in the space.

[thecow]

Not worth if if at all and here is why. For the same price as a 1080Ti you can straight up buy a years worth of coins mined. Of course don't buy BTC, pick a few alt coins and sit on them for a year. IF you were to mine, in a year you MIGHT break even if you sold all the coins.

I just sold all my cards and kept a single Titan Xp. Got double what I paid for them in May and still have all my coins so when the market recovers in a few years, I'll be ready to cash out.

GPU MINING IS DEAD! Just like in 2013 crash. Until the next coin takes off, the only people are mining would be the ones who are HODLing for years! otherwise you might very well lose money after selling coins every month.

[gotminer]

Maybe if your electricity is free or cheap mining is still worth, but if your electricity cost is expensive is not worth. Remember, a lot of peoples mining and it makes coins difficultly increased and the market condition is not supported now.

You are right. The mining market is very mature now, there are plenty of companies running their mining farms all over the world. The key factors are electricty price and calculate power(equipment).

Agree with that. One can keep mining if electricity costs lower then mining return. But buying any new equipment is not a good idea  now and may  be  it's  not a time to consider mining as a busines. It is fun that can provide a free pizza. Something like this.

There is no where around me that accepts crypto for pizza.

[gotminer]

Not worth if if at all and here is why. For the same price as a 1080Ti you can straight up buy a years worth of coins mined. Of course don't buy BTC, pick a few alt coins and sit on them for a year. IF you were to mine, in a year you MIGHT break even if you sold all the coins.

I just sold all my cards and kept a single Titan Xp. Got double what I paid for them in May and still have all my coins so when the market recovers in a few years, I'll be ready to cash out.

GPU MINING IS DEAD! Just like in 2013 crash. Until the next coin takes off, the only people are mining would be the ones who are HODLing for years! otherwise you might very well lose money after selling coins every month.

I guess it depends on your age.  I'm 33 years old.  I prepared to hodl for twenty years, if need be. 

[dimpsk]

Maybe if your electricity is free or cheap mining is still worth, but if your electricity cost is expensive is not worth. Remember, a lot of peoples mining and it makes coins difficultly increased and the market condition is not supported now.

You are right. The mining market is very mature now, there are plenty of companies running their mining farms all over the world. The key factors are electricty price and calculate power(equipment).

Mostly companies are GPU distributor and then they resell their cards for higher price. They earn from mining and earn from distributing the cards..
That's why the difficulty is getting more increases and the price of cards is getting increase because they are holding gpu while mining then they resell them in higher price..

As of now i still getting profit but it takes year before a can break my ROI so before i break the roi i think selling them would be the best choice because i think nvidia or AMD will release a new graphics card with higher performance than to old cards.

It is a wrong idea to buy used GPU from anyone I presume. Especially without discont about 50% from stock prices. They do usually with ASICs. Mining in the basement and then  sell to young miners. Also not good idea to buy it because only first batch of ASICs usually have nice ROI. And better buy if from producer in China directly. Time is a money when dealing with ASICs. 3 monthes is an epoch

[dimpsk]

Maybe if your electricity is free or cheap mining is still worth, but if your electricity cost is expensive is not worth. Remember, a lot of peoples mining and it makes coins difficultly increased and the market condition is not supported now.

You are right. The mining market is very mature now, there are plenty of companies running their mining farms all over the world. The key factors are electricty price and calculate power(equipment).

Agree with that. One can keep mining if electricity costs lower then mining return. But buying any new equipment is not a good idea  now and may  be  it's  not a time to consider mining as a busines. It is fun that can provide a free pizza. Something like this.

There is no where around me that accepts crypto for pizza.

I bit strange place. But you can buy fiat on exchange, transfer it to your card, charge it and buy some pizza for free.