Mining , still worth it?

[gotminer]

It's no longer worth it. Not only mining cost money to buy mining machine, this process also costs much for electricity bill. Some countries charge much for this mining industry only, some countries ban the cryptocurrency
The price of bitcoin is plunged these days. We should move to alternative coins. However, be care of the fake ICO.
Do you believe that the price of bitcoin will be rocketed
I can refer you many alterative coins including the coin shown in my signature

I'd like to "rocket" you right out of this fucking thread, good sir.    LOL 

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[Choyor]

Mining will be profitable if you have cheap electricity, I think today is not smart for ordinary people to mine because of the bloated electricity costs, while in china many people mine because of the cheap electricity prices. I think for now better buy.

[gwestcot]

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

Ravencoin... enough said.

http://ravencalc.xyz/

[Coinseeker22]

I am thinking to put up rig to start up but find it really difficult to invest now a days. With the blowing price of electricity and GPU add up the maintenance of your rig. If this continues what are the possible result for minning in the years to come? Which brings back to the OPs question is it still worth? Dont get me wrong but  im just thinking long term.

[Piskeante]

I am thinking to put up rig to start up but find it really difficult to invest now a days. With the blowing price of electricity and GPU add up the maintenance of your rig. If this continues what are the possible result for minning in the years to come? Which brings back to the OPs question is it still worth? Dont get me wrong but  im just thinking long term.

to begin with, i think mining is not done for holding. It's nonsense. if you mine, you know you have to pay an electricity bill. I don't think you buy hardware at a cost to mine also at a cost (electricity bill) paying your bill from your pocket because i think you may want to ROI at some point.

If you hold your coins mined, you pay your bill out of your pocket and you don't get money back (at least for ROI), why are you mining?? It's easier to buy the coins instead. You save money on bills, you save money on hardware, you save hours and hours of headhaches, you won't need to turn on the air conditioner in summer (unless you have your rigs in a big house and you don't notice them) , you won't have to deal with danger of burning your house and at some point, you won't need to increase the power to sign with your electricity company.

At current prices it's not worth. simply not. it's what it is.

[gotminer]

I am thinking to put up rig to start up but find it really difficult to invest now a days. With the blowing price of electricity and GPU add up the maintenance of your rig. If this continues what are the possible result for minning in the years to come? Which brings back to the OPs question is it still worth? Dont get me wrong but  im just thinking long term.

to begin with, i think mining is not done for holding. It's nonsense. if you mine, you know you have to pay an electricity bill. I don't think you buy hardware at a cost to mine also at a cost (electricity bill) paying your bill from your pocket because i think you may want to ROI at some point.

If you hold your coins mined, you pay your bill out of your pocket and you don't get money back (at least for ROI), why are you mining?? It's easier to buy the coins instead. You save money on bills, you save money on hardware, you save hours and hours of headhaches, you won't need to turn on the air conditioner in summer (unless you have your rigs in a big house and you don't notice them) , you won't have to deal with danger of burning your house and at some point, you won't need to increase the power to sign with your electricity company.

At current prices it's not worth. simply not. it's what it is.

It doesn't sound like you know much of anything about mining, but you got the last part right.  It's not a good idea to begin building a mining farm right now unless you've somehow managed to find hardware at MSRP.  Coin price is irrelevant, because that variable will always fluctuate.  However, if you overpay for hardware right now, that is set in stone.

[Irvanremok]

miners may be at the current price is quite disappointing yes with electricity is quite expensive whether to still gain profit with the current miners

[Lerva]

With free electricity it's definitely profitable.Earnigs are not big but at least something

[ICO 2100NEWS]

All what you can do right now is to wait and see when will the market bounce back. And you should be willing to wait for few more months too.

[barota]

Mining of bitcoin needs some conditions , It depends on how much you’re willing to spend and if you have free electricity and experience in the maintenance of mining machinery and software tools , yes you will make profit. but if any of those is missis you will make effort without result and so wast of time

[swogerino]

Mining it is still worth it if you have an electricity rate of under 0.09 usd/kw . Many home miners are switching off the gpu mining computers because of expensive electricity cost.

If you have cheaper electricity than 0.09 usd/kw it is good to continue and even if you have expensive electricity it is good to continue in my opinion as even mining with a loss may result in a profit after a long time from now because of price increases which are bound to happen in the future, well hopefully.

[smoolae]

Have electricity that costs 0.16 USD/kWh. Just looked today that I earn approximately 2 euros per day (electricity takes 4 euros), so still worth it.

Not using Nicehash, never

[Ciscopro2000]

I’m not really sure if mining is worth it at the moment since the crypto market is significantly down.  It’s almost better if you just buy the coins at market prices.  If you buy equipment now to mine, it might take you a couple years to get the return on your investment.  That’s at market prices and if it doesn’t drop even more. 

[gotminer]

Mining it is still worth it if you have an electricity rate of under 0.09 usd/kw . Many home miners are switching off the gpu mining computers because of expensive electricity cost.

If you have cheaper electricity than 0.09 usd/kw it is good to continue and even if you have expensive electricity it is good to continue in my opinion as even mining with a loss may result in a profit after a long time from now because of price increases which are bound to happen in the future, well hopefully.

That's the thing, everyone expects price increases over a long period of time. And sure, that will happen for some coins. But for other coins, well, let's just say that things have changed in 2018 and cryptos are in uncharted waters.

--ypsi

You can always trade your shitcoins for btc to hold long term.

[gwestcot]

I’m not really sure if mining is worth it at the moment since the crypto market is significantly down.  It’s almost better if you just buy the coins at market prices.  If you buy equipment now to mine, it might take you a couple years to get the return on your investment.  That’s at market prices and if it doesn’t drop even more. 

It all depends on who you are and how you are doing things... I don't sell a single coin that I mine and I can afford to pay the electricity out of pocket. Buying ccrypto directly is far riskier than buying equipment that has value and worst comes to worst you can recoup some costs by selling the equipment.

[MiningPoolGroup]

I’m not really sure if mining is worth it at the moment since the crypto market is significantly down.  It’s almost better if you just buy the coins at market prices.  If you buy equipment now to mine, it might take you a couple years to get the return on your investment.  That’s at market prices and if it doesn’t drop even more. 

It all depends on who you are and how you are doing things... I don't sell a single coin that I mine and I can afford to pay the electricity out of pocket. Buying ccrypto directly is far riskier than buying equipment that has value and worst comes to worst you can recoup some costs by selling the equipment.

This all day.  You have to get creative sometimes if you are wanting to turn a higher profit.  I mine some scrypt coin for profit with L3.   I can make 10-20 bucks a day doing something like TIPS/DOGE then DOGE/LTC . 

I just cashed in 3 million to get 60 bucks doing that exact scenario as above.  Electric cost was less than 5 dollars for 24 hours.

[Ailmand]

Depending on what coins and algorithm that mined by them. Some of the CPU-based coins still profitable till now, but am not too sure how much electricity cost in your Country. Test it first using CPU-Based coin online calculator (+- 10% accurate) then calculating with electricity cost.

I agree. The issue here is always with the capital. If you will be using so much capital only to get a descent or a break even return, then why would you even bother? Many people, specifically those who have already been in the mining department for quite a while now, that mining has been more difficult in the recent years compared to when the cryptocurrency is in the climbing stages. One reason for that is it's harder now since most of the mineable coins are reaching or at least getting closer to the ceiling of their market caps. So the time and energy you spend in mining only yields you less, which is why many people engaged in mining have recently switched to other ventures.

[Numir]

Some comments pisses me off. If you can't hold coins and you sell them right away then don't say that mining is not worth it. That is your current problem. Back in a day, you could get 10 Ethereums per day with one card. Some guys sold it right away for 0.3$ per Ethereum and they are bitching even today how it's not profitable, after so many years and so many same mistakes. Personally, for me, even the talk about electricity is not relevant, because the earnings for me are very good even now and I don't take today's price in my calculations. But I understand the new guys that need to pay electricity, it gets heavy when the bill comes their way. For God's sake, if you have comfort take a profit from one mining rig and put it away for one year or better do a research and find a new coin, get it in the low difficulty just once if nothing. And ask here what you need. There are so many guys here that want to help. I now that you can't believe that one rig can bring you even a million dollars, but can you believe it once in crypto and try it yourself. Little faith won't kill you.

[s.Zavgorod]

As I have not tried to calculate the profitability of farms. Payback less than a year did not work in any way. I think this year you should not even think about mining. Unless outbid somebody farm (they should be cheap) and leave it until 2019.

[gwestcot]

As I have not tried to calculate the profitability of farms. Payback less than a year did not work in any way. I think this year you should not even think about mining. Unless outbid somebody farm (they should be cheap) and leave it until 2019.

I can ROI in 8-9 months right now even if I sold my mined crypto right away. I don't have to do that due to my personal situation so sometimes, even in a bear market, you can ROI fairly fast. You really just have to think outside of the box and mine other things than what is on whattomine. If you see it there so does everyone else.