Mining , still worth it?

[hummer113]

Prices for graphics cards have decreased, good time to buy, or ideally wait for new cards from nvidia.

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[Ale-x1]

I'd like to wait for lower prices )
coz they are x1.5 at least

[gotminer]

Prices for graphics cards have decreased, good time to buy, or ideally wait for new cards from nvidia.

Personally I'd just wait another week and see if Nvidia makes any announcements at the GTC next week.

[QuintLeo]

I had some hope for GTC, but right now it's looking like another month or two past that for an announcement on the first consumer 2xxx series cards - and a LOT of conflicting rumours about them.

About the only consistency is the "they will be the 20xx series", even though it would make more sense for them to be called the "11xx" series.

[PranDoW]

Prices for graphics cards have decreased, good time to buy, or ideally wait for new cards from nvidia.

But profit is still low, better option is to wait for new series of nVidia cards. I hope they gonna be more powerful.

[juanichiloco]

It's still worth it but in terms of buying new hardware right now it may be best to wait. It depends really on how much spare funds you can invest, another important aspect is if it will work out better just buying coins at the moment when the prices are relatively low.

[gwestcot]

It's still worth it but in terms of buying new hardware right now it may be best to wait. It depends really on how much spare funds you can invest, another important aspect is if it will work out better just buying coins at the moment when the prices are relatively low.

It depends on what you are mining as well. There are some coins, not on whattomine, that are still 2-4 times more profitable that what is listed and known for a given GPU.

[Bimmber]

Yes, they are called shitcoins, for a reason

Yes, in theory you could make more money mining shitcoin, but

- lot of those pools steal
- by the time your blocks mature, price has dropped and profit is much much smaller
- no volume on exchange to sell
- no decent exchanges for most of the shitcoins

Shitcoin profit looks good only on paper.

[dimpsk]

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.

ROI (better  to say CR) of naked GPU is 2 years now, not 1 year. Of course if your electricity is free.

[dimpsk]

It's still worth it but in terms of buying new hardware right now it may be best to wait. It depends really on how much spare funds you can invest, another important aspect is if it will work out better just buying coins at the moment when the prices are relatively low.

It depends on what you are mining as well. There are some coins, not on whattomine, that are still 2-4 times more profitable that what is listed and known for a given GPU.

It is illusion. There no such profitable coins. In real life profitability will be worse for sure then  on  top  of whattomine for example.  I tried it not once.

[dimpsk]

Prices for graphics cards have decreased, good time to buy, or ideally wait for new cards from nvidia.

Bad time  to buy still.  They decreased a bit but not enough. Prices are at hipe level still.

[androstan1234]

IDK whether waiting for next gen nvidia is a great plan.  They will likely sell out instantly.

But I don't think buying gpus now is a good plan either.

Right now, prob should just buy coins, which is a discussion for another thread.

[whitefire990]

Several people in the community (myself included) are working on open-platform FPGA miners (stock FPGA cards widely available + publicly released bitstreams with 2% fee).  The ROI right now is 15 to 90 days based on the card and the algorithm.  In my mind open platform FPGA mining will soon replace GPU's for altcoins, and the FPGA's are almost immune to forking.

[gotminer]

It's still worth it but in terms of buying new hardware right now it may be best to wait. It depends really on how much spare funds you can invest, another important aspect is if it will work out better just buying coins at the moment when the prices are relatively low.

It depends on what you are mining as well. There are some coins, not on whattomine, that are still 2-4 times more profitable that what is listed and known for a given GPU.

It is illusion. There no such profitable coins. In real life profitability will be worse for sure then  on  top  of whattomine for example.  I tried it not once.

Not for daily profit.

[Suslived]

Several people in the community (myself included) are working on open-platform FPGA miners (stock FPGA cards widely available + publicly released bitstreams with 2% fee).  The ROI right now is 15 to 90 days based on the card and the algorithm.  In my mind open platform FPGA mining will soon replace GPU's for altcoins, and the FPGA's are almost immune to forking.

Any links or references to what you're talking about? Unfortunately some of us don't live in basements or geek out all day so we may not easily understand what and how FPGAs work for mining. My guess is that if ROI is 15 to 90 days as you say, it won't ever be available to the public until that number rises. People are greedy and developers will want to keep profits to themselves first.

[Metroid]

You trolls must always consider 30% - less profits than whattomine shows you, if it shows 30mhs on eth will give you after electricity is paid $0.70 per card, take another 30% from it which means $0.45 per card per day and paying $450 per rx 580 will give 1200 days roi, but imagine if your card is damaged, you lose it all, better buy coins at these prices, price of altcoins to buy are very good right now.

[whitefire990]

Several people in the community (myself included) are working on open-platform FPGA miners (stock FPGA cards widely available + publicly released bitstreams with 2% fee).  The ROI right now is 15 to 90 days based on the card and the algorithm.  In my mind open platform FPGA mining will soon replace GPU's for altcoins, and the FPGA's are almost immune to forking.

Any links or references to what you're talking about? Unfortunately some of us don't live in basements or geek out all day so we may not easily understand what and how FPGAs work for mining. My guess is that if ROI is 15 to 90 days as you say, it won't ever be available to the public until that number rises. People are greedy and developers will want to keep profits to themselves first.

I know the ROI since I am developing for the boards myself, but someone else also posted they were yielding similar ROI's for their FPGA project.  My algorithms are not finished yet, but all the high end boards are available for purchase immediately.  The hardware is available, the software/bitstreams will be available relatively soon.  I considered just mining with it and keeping it secret, but giving it away and charging a 2% fee ultimately yields more money in the end, so everyone benefits.

If you want to understand the technical side, consider that each core in a GPU is a serial processor capable of all sorts of math, and each math function is on a different part of the core.  Since only one math function is done at a time, then technically 80% of the GPU is actually 'idle' (all functions that are not being used in that particular instant are idle).  An FPGA that is programmed for mining is utilized 100%, that is to say that no single part of the chip is ever idle, every part is always working.  So even though the clock speed of the FPGA is lower (300-600MHz) than a GPU, the hash rate is drastically higher.

[Patuba]

You trolls must always consider 30% - less profits than whattomine shows you, if it shows 30mhs on eth will give you after electricity is paid $0.70 per card, take another 30% from it which means $0.45 per card per day and paying $450 per rx 580 will give 1200 days roi, but imagine if your card is damaged, you lose it all, better buy coins at these prices, price of altcoins to buy are very good right now.

Where are you coming up with the 30% discrepancy for whattomine.com?

[Metroid]

Where are you coming up with the 30% discrepancy for whattomine.com?

Reality. Those pools are stealing that much profit and they take advantage cause solo mining is worthless for most, solo mining gives you more or equal than whattomine, never less.

The pool mafia has been going on for a long time, hope one day it will die. They can fool you trolls, experienced miners are never fooled by them.

[whitefire990]

When GPU mining I have found that I typically yield 0.72 * WhattoMine, on most pools.  There have been some exceptions.  Bitcore pools yielded exactly what was predicted by WhattoMine, and Suprnova seems to yield something around 0.9.  But yes, I generally agree a 30% penalty is a realistic calculation for most pools.  Ahashpool was 0.7 across the board for all algorithms I tried.  Miningpoolhub was around 0.8.