Mining , still worth it?

[rdluffy]

Thanks to rising alts again mining is indeed profitable. It's worth it but getting in the whole mining game when paying a stupidly high price for GPUs is still a big no-no.

Yes, just worth for the ones who already have the rigs
Now it's the worst moment to buy gear

Noboby knows the future (ETH POS, Asics, new Nvidia Cards etc)

[1714747699]

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[1714747699]

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[sigtmerchant]

Thanks to rising alts again mining is indeed profitable. It's worth it but getting in the whole mining game when paying a stupidly high price for GPUs is still a big no-no.

Yes, just worth for the ones who already have the rigs
Now it's the worst moment to buy gear

Noboby knows the future (ETH POS, Asics, new Nvidia Cards etc)

The worst moment to buy new equipment was about a month ago, when prices didn't decrease yet amd mining profits were close to none. Now it's improving again

[smoolae]

Not worth it

It is when you already have mining equipment on hand and ready to work. It could happen that even highly overpriced GPUs could mine themselves to profit, when altcoin market keeps rising, with relatively short time.

But yes, shortly put, mining is worth it.

[Way2Paradise]

i would say it depends on the electricity price, if mining is worthwhile. the lower the electricity price is, the sooner the mining is worthwhile

if the price of electricity is low enough, even the purchase of not quite up-to-date gpus or asic miner is worthwhile.

[onefry]

I'll agree with everyone here and say if you have free electric, mine!

[Way2Paradise]

I'll agree with everyone here and say if you have free electric, mine!

yes, with free electricity, the mining is worth either way. but also with very low costs, it can be worthwhile and you can reach roi in some months.

[dimpsk]

I'll agree with everyone here and say if you have free electric, mine!

yes, with free electricity, the mining is worth either way. but also with very low costs, it can be worthwhile and you can reach roi in some months.

You couldnot except you mean some dozen monthes. Believe me

[senseless]

The problem is $20+/day at $1 electrical cost at today's current situation is a very debatable claim. If you'd like, i'm offering you the chance to PM the details of what you are mining and i can guarantee to vouch for you if it checks out. I will stake my account and swear that I will never tell anyone else about it.

Interested?

If you're curious, it's out now... Someone else dropped the secret...

https://bitcointalk.org/index.php?topic=3459858.0

[Sandal_Hat]

Doesnt make sense to mine certain mainstream coins. Niche new coins may be worth it.


If u had just bought btc at 5k to 6k plus 2 months back, at current prices 9k+ , u would have gotten more than 50% profit easily.
If u had bought bitcoin machines to mine instead, u would have gotten about 14-18% return, basis a 11-15 month breakeven.

If u had bought btc instead, u have more than 150%, in which u can easily use 100% to buy machines and have 50% change lol.
Thats far higher than the 14-18% the miners got. And the miners u just bought have 2 months more warranty.
In general, the returns for the last 1 year plus have been such that it is just better to hold btc over machines and I believe that trend will continue. Difficulty just rises too much and there is an overwhelming and senseless interest in mining. Too much money going after too little profits really.


Future Scenarios:
If bitcoin price drops by 50-60%, all miners become toasters and u cant sell them. Bitcoin holders can still sell.
If bitcoin price drops 90%, holders can still sell for 10% of value. Miners get nothing for doorstops.
If bitcoin price goes up, well bitcoin holders make more than mining. Thats been the case and so far, should continue to be the case. Problem is just that difficulty rising alot and most miners dont do a comparison between holding and mining bitcoin.


And yes, now, mining looks more attractive now due to a recent price spike but the new machines will come and breakeven will go back to 11-15months again, which makes it not worth it.



It is only good to buy a machine like the antminer A3 which managed to break even in first 2months. Niche machines with high risk. If forks dont occur, u are good. Long term breakeven machine arent worth it these days.

[klintistwood]

what is your average cost for electricity? I'm really wondering if in Europe we still have countries where electricity is cheap enough. In my case, electricity costs around 0.3€ (network cost included). I used to mine by using my extra output from solar panel but now I have used up this extra output and I'm waiting until my meter goes back to where it was.

[zbutterfly]

yes, mining is still profitable, but if you use gpu, please just sell it.

[CryptoFlamingo]

what is your average cost for electricity? I'm really wondering if in Europe we still have countries where electricity is cheap enough. In my case, electricity costs around 0.3€ (network cost included). I used to mine by using my extra output from solar panel but now I have used up this extra output and I'm waiting until my meter goes back to where it was.

In Slovakia we have electricity cost around 0.14 € per kWh so its not that much I guess

[leonix007]

yes, mining is still profitable, but if you use gpu, please just sell it.

Whoow,GPU regains its profitability for a couple of weeks now

hard to let them go these days since they are doing greatly on there job

No, Im not gonna sell them yet

[2alt]

Also you mine for tomorrow, not for today.

I have mined up so much btcz, I will be a millionaire if it hits 50 cents. And mathematically it could be worth $1000 for a 1:1 with btc supply. Also the best privacy coin.

So if you are mining, don't sell it. A few years from now you will be very happy. 

[s90x]

I complete 12 months of mining this month. After several months of trying out different coins and trading, I have come to conclusion that point all miners to supportxmr and hold all your monero and live a peaceful life. 

Yes, it is profitable but I never sold any mined coins so it is all paper money 

[MrN1ce9uy]

I complete 12 months of mining this month. After several months of trying out different coins and trading, I have come to conclusion that point all miners to supportxmr and hold all your monero and live a peaceful life. 

Yes, it is profitable but I never sold any mined coins so it is all paper money 

To support XMR??

I've heard some mention it to be a good cryptocurrency. Can you expand on why you would point miners to support XMR? Do you mine XMR? CPU and GPU?

[mumpungiso]

I think mining still worth and profitable. Because until to day i always get the coins.
But if your asking about get a lot coins, i think not worth. Because my hashrate not to much as others, so i just get small coins. But the way i still enjoying to mining and the result can be trade at market exchange.
Because of that, i can tell you mining still worth. Not how much we can get but what can we do for the coins.

[gotminer]

I complete 12 months of mining this month. After several months of trying out different coins and trading, I have come to conclusion that point all miners to supportxmr and hold all your monero and live a peaceful life. 

Yes, it is profitable but I never sold any mined coins so it is all paper money 

To support XMR??

I've heard some mention it to be a good cryptocurrency. Can you expand on why you would point miners to support XMR? Do you mine XMR? CPU and GPU?

Support XMR is a XMR pool.  GPU mine it with AMD hardware.

[Rocktop044]

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.

[dimpsk]

Hi trolls.
Is your mining still profitable I wonder