Mining , still worth it?

[Piskeante]

although that can be true for others, it's not for me. I have a fixed electricity price all the year, so my price is always the same. 0.115€ Kwh x 26% taxes = 0.145€ = 0.18$

In summer, electronics use 30% more electricity than winter, they require more for cooling and safety. In summer is normal for you to see 30% more on your electricity bill.

For example, a mining rig which use 800 watts on winter, will use 940 watts on summer to work the same as the 800 watts on winter. Cold all year long helps to save money on the electricity bill.

although that can be true for others, it's not for me. I have a fixed electricity price all the year, so my price is always the same. 0.115€ Kwh x 26% taxes = 0.145€ = 0.18$

i live by the sea, and that's also a factor to consider. in summer outside can be at 40ºC. That will force me to turn on the air conditioning increasing my electricty cost for the same or less profit than now. Normally you have to turn it on. But 10 gpus generate a lot of heat.

the problem is not holding ETH The problem is that once PoS is applied, what will people with 1 or 2 or maybe 3 coins have to do, if Vitalik applies like 1000 coins to enter in PoS??? They will be forced to sell before PoS at low prices because they can risk of losing it all. Then those cheap coins will be bought by whales to increase their participation in PoS and get more money from smart contracts using ETH.

This strategy is clear as fuck. I see a lot of people buying ETH because they feel ETH will be here. They think once PoS applied you will be able to buy it, sell it, or even trade it. How are you going to be able to do that, if the coin will believe to the chain???

PoS means you , as a participant, will be paid according to the number of coins you attached to the chain. The more coins, the more money to get when companys do smart contracts.  i can believe how dumb people are. Then, when they lose money, they cry like children.

Maybe that's why ETH is the worst top 5 coins performer. While BTC has won 8% in the last week, ETH has lost 9.2% . Reality says this is not gonna end well for ETH.

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[edwardceng]

Mining, still worth it?

1. Depends on when you purchasing GPUs: one year ago, two years ago, or when prices are high from 4 months ago.

2. Depends on the electricity bill, every country is different.

3. Especially, for me, mining using GPUs still worth because of I bought all mining Rig 1 year ago, only profit down if compared 1 year ago. I understand every miner is different in understanding the current mining.

[Metroid]

3. Especially, for me, mining using GPUs still worth because of I bought all mining Rig 1 year ago, only profit down if compared 1 year ago. I understand every miner is different in understanding the current mining.

If for you earning $0.20 a day per each 30mhs on eth is good then things are very bad where you live. Business wise, return of the money invested is 2000 days, that is 6 years, that is crazy, in europe, any business you open, if you don't get the return of your money in 1 year then it is called a failure. They close it and build something else.

[Piskeante]

3. Especially, for me, mining using GPUs still worth because of I bought all mining Rig 1 year ago, only profit down if compared 1 year ago. I understand every miner is different in understanding the current mining.

If for you earning $0.20 a day per each 30mhs on eth is good then things are very bad where you live. Business wise, return of the money invested is 2000 days, that is 6 years, that is crazy, in europe, any business you open, if you don't get the return of your money in 1 year then it is called a failure. They close it and build something else.

i don't think, (or want to believe) there is noone outthere mining for 0,20$ per card after electricity costs. If that's the case.....well....they should be desperately poor to do that. or mentaly ill (or both). well, there is another option: to mine and pay the cost out of your pocket, which is like paying for mining , thinking you´ll eventually get profit. The graveyard is full of optimist people.

In my case is an average of 0,52$ per card after electricity costs (but my rigs are off right now). Also considering selling GPU's before cryptocurrencies crack with legislations and taxes and the market is flooded with them. I can get like 50% profit from what i paid for them right now. most of them were bought for like 220€ and i can get 350€ average each easy. that's a huge profit and i would forget about this nonsense. i would ROI instant with instant profit.

BTW , the market today is collapsing another time. One more time.

[DigitalFox]

Yes it is still profitable if you know what you're doing. Even now my cards bring me equivalent of 30,000-60.000 satoshi per day each. But if you're on Nicehash etc... not sure.

[edwardceng]

If for you earning $0.20 a day per each 30mhs on eth is good then things are very bad where you live. Business wise, return of the money invested is 2000 days, that is 6 years, that is crazy, in europe, any business you open, if you don't get the return of your money in 1 year then it is called a failure. They close it and build something else.

i don't think, (or want to believe) there is noone outthere mining for 0,20$ per card after electricity costs. If that's the case.....well....they should be desperately poor to do that. or mentaly ill (or both). well, there is another option: to mine and pay the cost out of your pocket, which is like paying for mining , thinking you´ll eventually get profit. The graveyard is full of optimist people.

In my case is an average of 0,52$ per card after electricity costs (but my rigs are off right now). Also considering selling GPU's before cryptocurrencies crack with legislations and taxes and the market is flooded with them. I can get like 50% profit from what i paid for them right now. most of them were bought for like 220€ and i can get 350€ average each easy. that's a huge profit and i would forget about this nonsense. i would ROI instant with instant profit.

BTW , the market today is collapsing another time. One more time.

Answers to your analysis:

I understand every miner is different in understanding the current mining.

I still mining since @OP wrote the topic 6 March 2018 until you wrote those reply. I don't need and approve your calculations for stopping or no in mining. and I don't influence anyone for mining or no.what you think isn't worth isn't necessarily the same for others and vice versa what I think worth isn't necessarily the same for others.

[RYXES]

My mining rigs are not worth it anymore. UK electricity prices are pretty expensive. RX580 will get you $0.89/day

Was good while it lasted.

[janccschiffer]

no i think not !

[Iamtutut]

Summer is coming to europeans, americans and russians and with summer at least 30% more to pay on the electric bill hehe, so if your trollmind says is profitable then you should calculate it again and deduct 30% more from your final net profit hehe

Nonsense, you'd better shut up troll. Prices are the same all year round, and we don't have to use heaters during summer.

[gotminer]

Yeah, ventilation fans do not take away 30%.  Maybe if you're trying to use air conditioning, but not sure who in their right mind is going to do that.

[dimpsk]

Yeah, ventilation fans do not take away 30%.  Maybe if you're trying to use air conditioning, but not sure who in their right mind is going to do that.

Of course not. But tell us about your huge profits now. I want to get some fun

[dimpsk]

My mining rigs are not worth it anymore. UK electricity prices are pretty expensive. RX580 will get you $0.89/day

Was good while it lasted.

That's it. Nice to hear a smart folk among trolls bunches

[dimpsk]

Yes it is still profitable if you know what you're doing. Even now my cards bring me equivalent of 30,000-60.000 satoshi per day each. But if you're on Nicehash etc... not sure.

Apparantly nicehash is not the worst place here.

[dimpsk]

3. Especially, for me, mining using GPUs still worth because of I bought all mining Rig 1 year ago, only profit down if compared 1 year ago. I understand every miner is different in understanding the current mining.

If for you earning $0.20 a day per each 30mhs on eth is good then things are very bad where you live. Business wise, return of the money invested is 2000 days, that is 6 years, that is crazy, in europe, any business you open, if you don't get the return of your money in 1 year then it is called a failure. They close it and build something else.

i don't think, (or want to believe) there is noone outthere mining for 0,20$ per card after electricity costs. If that's the case.....well....they should be desperately poor to do that. or mentaly ill (or both). well, there is another option: to mine and pay the cost out of your pocket, which is like paying for mining , thinking you´ll eventually get profit. The graveyard is full of optimist people.

In my case is an average of 0,52$ per card after electricity costs (but my rigs are off right now). Also considering selling GPU's before cryptocurrencies crack with legislations and taxes and the market is flooded with them. I can get like 50% profit from what i paid for them right now. most of them were bought for like 220€ and i can get 350€ average each easy. that's a huge profit and i would forget about this nonsense. i would ROI instant with instant profit.

BTW , the market today is collapsing another time. One more time.

Not very big distance from net earn $0.2 to $0.5 on  GPU per day I presume.

[gotminer]

Yeah, ventilation fans do not take away 30%.  Maybe if you're trying to use air conditioning, but not sure who in their right mind is going to do that.

Of course not. But tell us about your huge profits now. I want to get some fun

I don't mine for daily profits.  We'll just say that the coins I mine with my equipment in a day could be cut in half twice and at current coin prices, I'd still be breaking even.  Maybe it will happen, maybe it won't.  Maybe coin prices will double or triple or more in the future, or maybe they won't.  I wouldn't start mining today with these gpu prices, but it would be stupid for me to just shut everything down and sell all of my hardware at this time.

[DigitalFox]

Yes it is still profitable if you know what you're doing. Even now my cards bring me equivalent of 30,000-60.000 satoshi per day each. But if you're on Nicehash etc... not sure.

Apparantly nicehash is not the worst place here.

What's the worst one then, I wonder. ETH and ZEC adepts? In any case I never understood those who mine and immediately dump, that the dumbest thing IMHO. I mined ETH 3 years ago, did I sell any of it? No, it's still in my wallet

[whitefire990]

Keep in mind all it takes is one event, like Amazon announcing they will accept (even one) cryptocurrency, and the entire crypto market cap could triple in a week.  At which point mining would be super profitable again.

[QuintLeo]

Yes it is still profitable if you know what you're doing. Even now my cards bring me equivalent of 30,000-60.000 satoshi per day each. But if you're on Nicehash etc... not sure.

Apparantly nicehash is not the worst place here.

What's the worst one then, I wonder. ETH and ZEC adepts? In any case I never understood those who mine and immediately dump, that the dumbest thing IMHO. I mined ETH 3 years ago, did I sell any of it? No, it's still in my wallet

Some of us have bills to pay and no other income (or for a while I had other income but only part of the year).

Can't AFFORD to just "hang on" to most of the coin I earn - and what isn't paying the bills has been getting invested into MORE hashrate genration hardware....

[dimpsk]

Yeah, ventilation fans do not take away 30%.  Maybe if you're trying to use air conditioning, but not sure who in their right mind is going to do that.

Of course not. But tell us about your huge profits now. I want to get some fun

I don't mine for daily profits.  We'll just say that the coins I mine with my equipment in a day could be cut in half twice and at current coin prices, I'd still be breaking even.  Maybe it will happen, maybe it won't.  Maybe coin prices will double or triple or more in the future, or maybe they won't.  I wouldn't start mining today with these gpu prices, but it would be stupid for me to just shut everything down and sell all of my hardware at this time.

You will never breakeven on currentprices. And there will be a point near $300 per ETH when all your earnings will be consumed by electric company bills.

So if ya still believe in rebounce why  not just sell your farms  and buy  coins for  fiat I wonder? The coins are chip. The farms still have high value

[gotminer]

Yeah, ventilation fans do not take away 30%.  Maybe if you're trying to use air conditioning, but not sure who in their right mind is going to do that.

Of course not. But tell us about your huge profits now. I want to get some fun

I don't mine for daily profits.  We'll just say that the coins I mine with my equipment in a day could be cut in half twice and at current coin prices, I'd still be breaking even.  Maybe it will happen, maybe it won't.  Maybe coin prices will double or triple or more in the future, or maybe they won't.  I wouldn't start mining today with these gpu prices, but it would be stupid for me to just shut everything down and sell all of my hardware at this time.

You will never breakeven on currentprices. And there will be a point near $300 per ETH when all your earnings will be consumed by electric company bills.

So if ya still believe in rebounce why  not just sell your farms  and buy  coins for  fiat I wonder? The coins are chip. The farms still have high value

I don't mine for current prices.  I thought I made that clear in an earlier post.  The price of ETH has nothing to do with my portfolio in terms of mining.  The only ETH I own was purchased several months ago with FIAT.  A large percentage of my mining farm is already paid for "at current prices".  You're making blanket statements without considering my variables.  You have no idea what I paid for my equipment.  Sure as hell didn't pay current gpu prices.  You have no idea what the cost of my electricity is.

I don't have all of my eggs in one basket though.  I hold plenty of crypto that was purchased with FIAT.  Simple answer is that I like mining.  I like the tech.  I want to be part of the decentralization.  Maybe I'll break even, maybe I'll make money, maybe I'll lose money.  Same can be said about buying crypto with fiat.  Whatever the outcome, I'll never lose the experience.