Mining , still worth it?

[yg10]

...
Also, ETH has been holding on to it's price better than Bitcoin since mid-January (dropped 50% from ATH vs over 60%), Litecoin is still up some vs Bitcoin since then, a few other altcoins have been holding on AS WELL as Bitcoin.

Jan-15-2018 ETH/USD was 0.096, it peaked to 0.011 as of Feb-01 and ATM it is 0.065. What do you mean "by better holding to its price"?

[2alt]

I don't buy it either. ZEC is actually the coin. People always go to it when market is falling. Look even today ZEC was gaining value over BTC well before the market turned around. And then pumped hard and still up 13% over BTC while ETC not even 1%.

This is all at - 3/16/17 12:30 UTC

I do wonder when people can't mine ETH, they will move to ZEC and the diff will skyrocket. Hope not.

[yg10]

I don't buy it either. ZEC is actually the coin. People always go to it when market is falling. Look even today ZEC was gaining value over BTC well before the market turned around. And then pumped hard and still up 13% over BTC while ETC not even 1%.

This is all at - 3/16/17 12:30 UTC

What period of time do you mean?

[2alt]

Look here -

https://coinmarketcap.com/currencies/zcash/

You can see when BTC was falling to its lowest, ZEC started to gain value over it. Then it went even higher.

I am talking about right now back to 2-3 hours before the sudden turn around. But is is always like this with ZEC. Look at the charts and see.

Edit - right now it is 7% over BTC. Was 13 a bit ago. But more importantly is to see how when the market was at it all time lowest of 2018 (imo today was epic) ZEC start to gain over BTC.

[Vispilio]

ZEC is a privacy coin; the more the institutions of the establishment attempt to resists cryptocurrencies (banning / censoring, legal action, etc.), the more private coins will gain momentum. So it wouldn't be surprising to see ZEC overperform during bear markets.

[dimpsk]

Another possibility is the ETH will get pumped again to 2k while BTC remains at it is or hit around 10 to 15k by the end of this year.

Lots of possibilities. Long term the coins will increase. We’ve seen this up and down roller coaster over a dozen times now. Each time, people think crypto and mining are dead. Each time they’ve been wrong.

same as thinking bitcoin as a whole is dead

Not exactly. Alcoins are falling into dust and ashes but bitcoin  do not seems so week. Because it's standing on the levels of mining  profitability.

Price drives mining profitiability, NOT THE OTHER WAY AROUND.
Also, ETH has been holding on to it's price better than Bitcoin since mid-January (dropped 50% from ATH vs over 60%), Litecoin is still up some vs Bitcoin since then, a few other altcoins have been holding on AS WELL as Bitcoin

Mining profitability support works only with bitcoin not altcoins (most of them are not profitable for a long time  because they are shitcoins).  So $7500 seems to be solid.
As fo ethereum - ya can opet it's graph on  coinmarketscap and reilized: after this year peak on february first, it falls every day to bitcoin for almost 2 monthes (yellow graph)
It's all a kind of money wasting

[nelsmining]

Unless you are highly technically competent with a wealth of funds to start with I think you have a very small shot at a profitable future. You will have to mine small coins and be very fluid in moving from one to another. It will take research and a good bit of luck to pick the correct projects.

[dimpsk]

Unless you are highly technically competent with a wealth of funds to start with I think you have a very small shot at a profitable future. You will have to mine small coins and be very fluid in moving from one to another. It will take research and a good bit of luck to pick the correct projects.

Yep, the most of them will cost nothing in a few monthes but a few can be the lucky chance.

[connic1983]

There are a couple of scenarios where mining is still worth it.

1. You have the hardware lying around doing nothing and all you need to do is buy GPUs. Even that is going to be hard cause ROI on just GPU is close to 1 year now.
2. Electricity for you is either free or close to really really cheap. I am talking 0.07 kWh or less. In that case no matter what happens to the market you will still be there mining and getting something back.
3. You love tinkering with hardware/software and are techy. Passion beats everything, and if that is the case ROI or anything else does not really matter.

Biggest problem is that ROI right now for a new rig is around 12 months whatever you mine. 12 months in crypto is an eternity and no one knows what will happen. We might get some good months but most people say that only worse times are coming from now on. Difficulty will keep increasing and new players in the crypto to bring new cash in will be less and less.

[smoolae]

Yeah, it's all about that free or cheap electricity. If you have one of them you are off pretty good. With more expensive electricity though you are covering your costs barely.

[MinedTangerine]

There are a couple of scenarios where mining is still worth it.

1. You have the hardware lying around doing nothing and all you need to do is buy GPUs. Even that is going to be hard cause ROI on just GPU is close to 1 year now.
2. Electricity for you is either free or close to really really cheap. I am talking 0.07 kWh or less. In that case no matter what happens to the market you will still be there mining and getting something back.
3. You love tinkering with hardware/software and are techy. Passion beats everything, and if that is the case ROI or anything else does not really matter.

Biggest problem is that ROI right now for a new rig is around 12 months whatever you mine. 12 months in crypto is an eternity and no one knows what will happen. We might get some good months but most people say that only worse times are coming from now on. Difficulty will keep increasing and new players in the crypto to bring new cash in will be less and less.

I can check 2 and 3. Electricity is 0.06 KWh here on everage. I hope you are wrong about the hard times though at least in the long run. There is actually tons of money out there waiting to enter Crypto. The number of people using it is actually really small. The way I see it the biggest barrier is the high learning curve and to user unfriendly for non-tech people. I have a lot of older people asking me about crypto. They would enter the market but they have no knowledge how to do it. If Crypto wants to really gain momentum it should most of all simplify usage. I mean copy/pasting hexa wallet addresses around with a chanche to make a mistake, cmon that like stone age.

[blockchange88]

It's worth it if you got rigs already. In q3 q4 us big dick fat balled miners that weathered the storms, will reap the benefits of the seeds we sow now. Keep on hashing BTCBTCBTCBTC

[Ale-x1]

ROI depends on price BTC / Altcoins. So it can be higher or lower.

[GazWales]

I have 10 cards mining, was pulling over 900 a month with minus 120 for electric now only 250 a month minus 120 for electric.

Im just HODL all mining proceeds and hoping come end of summer it will be a decent amount for a holiday...

I have a load of coins bought that im HODL long term..

So still profitable for me but with todays GPU cost if your looking for ROI it will be ages!

[RYXES]

Of course it is still worth it.

Look at the last 3 or 4 years and tell me it isn't.

Even if today it is not profitable for your coins they will be soon enough.

It is days like this when you wish you paid for you bills and the end of the year rather than monthly.

[Inno_ASIC]

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[ciciteng]

No. Go away now 
Look, with the ASIC keep coming, your GPU will be crushed like hell.
Sure, you say that XMR will change the algo to V7, are you sure in their base all Bitmain and Bikal engineer not to start to crack that V7 shit and start mining in their base for 5 months or so? And 3 weeks before the announcement of V8 algo change they ship their badass miner to public???

[Mike011]

When ASICs become available in the store like gpu`s, i will buy them. For now, this all ASIC market is shady. And i am not giving thousands of dollars to some chink half of the world away.

[MetaSk]

Ofcourse it is profitable...I am mining ethereum and verge in dual...
It should stay profitable for some time now...well at least I hope

[QuintLeo]

No. Go away now 
Look, with the ASIC keep coming, your GPU will be crushed like hell.
Sure, you say that XMR will change the algo to V7, are you sure in their base all Bitmain and Bikal engineer not to start to crack that V7 shit and start mining in their base for 5 months or so? And 3 weeks before the announcement of V8 algo change they ship their badass miner to public???

It takes a LOT MORE than one month to redesign an ASIC and get it into actual production.
The Monero Core group can get the algorithm changed a LOT faster than Bitmain or Baikal can change their ASIC.