MINING STILL PROFITABLE?

[maydna]

actually, mining still profitable because we have many options to mining and we can use every chance from the coin to mining. but there are many things that we need to think and calculate so we know which coin that will bring a profit for us in monthly. without doing research about mining itself, we don't know how to mining, how to choose the right coin, we don't know how much the electricity fee that we should pay and another else. but if you still don't know about this and you still want to try and start mining, then you can go with mining.

[Suxipo]

Unless you already have some rigs, don't invest in mining as it's way too risk to get your money back. It's less hassle just to buy some coins and hope prices will go up one day. I used to do mining back in 2013-2014 but I had quit because there were many troubles. Had I keep coins mined in 2013-2014 though, I would be rich!! But no miners mine coins just to keep for several years, they have to pay electricity!

[lucasccschiffer]

how much money did you guy invewst for a rig mining

[Suslived]

I believe a strategy worth trying at this point in time is the longshot coin mining.

What is it? Basically just a mine a fairly new coin that isn't listed on an exchange yet. Once it gets listed, you will surely have already mined a lot and probably earn much more. Just make sure you pick the right coin that isn't a shitcoin that never actually gets listed.

[sigtmerchant]

how much money did you guy invewst for a rig mining

Around $8500 for 8x1080ti rig, but that was last September. Currently VGA prices are way too high, doesn't make sense to buy a single card for $1400.

[litepresence]

Mining is still profitable but not as like before. I came to know about mining through one of my friends who is doing mining. I too had a thought of investing in it. But right now he cant able to cope up with the electricity bill. This bill occupies his 50% of his profit earned through mining. If you live in the area where it has low cost or free cost of electricity then its best to invest in it.

[lunobird]

I believe a strategy worth trying at this point in time is the longshot coin mining.

What is it? Basically just a mine a fairly new coin that isn't listed on an exchange yet. Once it gets listed, you will surely have already mined a lot and probably earn much more. Just make sure you pick the right coin that isn't a shitcoin that never actually gets listed.

That sounds like a good approach. Only problem most mineable new coins are shit. 95 percent of them. I think another strategy i might try is to mine zcash to autoconvert to btc or eth.  And use those funds to invest in a popular ico.

[swogerino]

It is profitable depending on your electricity cost. Keep in mind that since yesterday the GTX 1060 3GB cannot mine anymore Ethereum due to DAG 177 difficulty increase so if you have not yet bought your cards do not buy one of these.

[pickleburglar]

Keep in mind that since yesterday the GTX 1060 3GB cannot mine anymore Ethereum due to DAG 177 difficulty increase so if you have not yet bought your cards do not buy one of these.

DAG won't reach 3gb until a year from now, if you are unable to mine then you're getting screwed by your OS (win 10 i'm guessing?) There is no reason not to use win 7 or linux on a 1060 rig.

Also DAG size is unrelated to difficulty.

[practicaltexan]

how much money did you guy invewst for a rig mining

$4200 for a 6 GPU RX570 and RX580 rig. (I bought Titanium rated PSU's vs. the G2)

$1100 for an A3 (includes a power cord and cat6 cable) 

The price difference and ROI timeline is very different.  The A3 is riskier and way louder than the l3+.  If these ASIC's die or whatever their depreciative value is way lower than the GPU rig.  I can sell everything on it and still make a profit if I had to today.

That is one benefit of a GPU rig I have found.  Re-sellability.   Kind of like buying a toyota vs. something else.  I could sell a toyota tacoma with over 150,000 miles and still get a higher ROI than say a Ford F150. 

So if you do get into mining I'd do two things.

Make a decision tree analysis and figure out your best case and worst case scenario down to difficulty rate and price.

Estimate your rig cost for a bare minimum setup.  If you want a 6 GPU or 12 GPU capability, figure out how much your rig would cost to build with 2 GPU's and then shoot for that. Get that up and going....You won't be making a lot.  Just a dollar or 2 a day after electricity...but it will be running.  Then be patient and hunt for GPU deals...on craigslist, on ebay, on facebook, on new egg, etc.  Buy them individually and just add them in.


Or just buy an ASIC and forget about it.  Know your ROI will be about 12 months with that.  Unless you get an A3, but know they can be bricked by a fork.  Or an L3+  but know you will be getting about .3-.4 LTC by december if there are no other major difficulty increases  (and keep an eye on a potential 1GHz LTC miner coming out about june or july.


Anyway.  It's risky.  Do your due diligence.  Take a week and gather data, run scenarios and allocate percentages.  So when the price drops you can just hang on or cut your loss. 

J

[TGJ]

how much money did you guy invewst for a rig mining

$4200 for a 6 GPU RX570 and RX580 rig. (I bought Titanium rated PSU's vs. the G2)

$1100 for an A3 (includes a power cord and cat6 cable) 

The price difference and ROI timeline is very different.  The A3 is riskier and way louder than the l3+.  If these ASIC's die or whatever their depreciative value is way lower than the GPU rig.  I can sell everything on it and still make a profit if I had to today.

That is one benefit of a GPU rig I have found.  Re-sellability.   Kind of like buying a toyota vs. something else.  I could sell a toyota tacoma with over 150,000 miles and still get a higher ROI than say a Ford F150. 

So if you do get into mining I'd do two things.

Make a decision tree analysis and figure out your best case and worst case scenario down to difficulty rate and price.

Estimate your rig cost for a bare minimum setup.  If you want a 6 GPU or 12 GPU capability, figure out how much your rig would cost to build with 2 GPU's and then shoot for that. Get that up and going....You won't be making a lot.  Just a dollar or 2 a day after electricity...but it will be running.  Then be patient and hunt for GPU deals...on craigslist, on ebay, on facebook, on new egg, etc.  Buy them individually and just add them in.


Or just buy an ASIC and forget about it.  Know your ROI will be about 12 months with that.  Unless you get an A3, but know they can be bricked by a fork.  Or an L3+  but know you will be getting about .3-.4 LTC by december if there are no other major difficulty increases  (and keep an eye on a potential 1GHz LTC miner coming out about june or july.


Anyway.  It's risky.  Do your due diligence.  Take a week and gather data, run scenarios and allocate percentages.  So when the price drops you can just hang on or cut your loss. 

J

Why do you think a 1 GHz LTC miner will come out in June / July?

[practicaltexan]

[/quote]Why do you think a 1 GHz LTC miner will come out in June / July?
[/quote]

https://www.ehsminer.com/product/ehs-asic-scrypt-miner-vi/


Well......crap.  I copied that and was looking for their news update on shipping and found that in late february they cancelled all their orders and refunded everyone because they didn't meet manufacturing quotas...


https://www.ehsminer.com/2018/02/13/ehsminer-withdraws-wolf-preorders-maintains-asic-chips-development/

So...nvm on that.

[Ayuluv2001]

does anyone able to give an accurate figure how much will one make after selling the coins using 8x gtx 1080ti or 8xvega64/56 in a rig/mth?

Thanks alot

[lion99]

If you asking about BTC it is not(now) but mining the other coins is profitable still! So if you want to start mining choose what coin you want to mine and do this shit!

[Metroid]

Its game over trolls and all the blame on btmain and mt-gox once again hehe, everytime btc goes to 9k mt-gox open its wallet and sells its coins, crashing bitcoin again ehhe

[sigtmerchant]

does anyone able to give an accurate figure how much will one make after selling the coins using 8x gtx 1080ti or 8xvega64/56 in a rig/mth?

Thanks alot

I doubt you will get a solid idea. Some people use Nicehash and suffer, others do their daily research to find coins that are profitable to mine and make NH x2-x3

[hummer113]

if you do not think head, you can get very little or even constantly lose money, crypto is very fast, and here much faster you can take off or fall, be careful. as for me, mining is profitable, but you can diversify your investments, it will give more stability.

[swogerino]

Keep in mind that since yesterday the GTX 1060 3GB cannot mine anymore Ethereum due to DAG 177 difficulty increase so if you have not yet bought your cards do not buy one of these.

DAG won't reach 3gb until a year from now, if you are unable to mine then you're getting screwed by your OS (win 10 i'm guessing?) There is no reason not to use win 7 or linux on a 1060 rig.

Also DAG size is unrelated to difficulty.

I am a bit new to mining, only 4-5 months mining and I was told that mining with Windows 10 was the best option. I tried Nicehash, Claymore DualMiner and they don't work but at Winminer it works, how is that possible, what is going on, is Winminer cheating at me ?

[Apelsinus]

What about mining for a long-term, hoarding coins that looks solid and may have potential in crypto future?

[retard75]

Keep in mind that since yesterday the GTX 1060 3GB cannot mine anymore Ethereum due to DAG 177 difficulty increase so if you have not yet bought your cards do not buy one of these.

DAG won't reach 3gb until a year from now, if you are unable to mine then you're getting screwed by your OS (win 10 i'm guessing?) There is no reason not to use win 7 or linux on a 1060 rig.

Also DAG size is unrelated to difficulty.

Moreover ETH DAG will never reach 3GB before it goes PoS. 
And will ETC still be a relevant mining coin next year? 
The other obscure ethash coins will never reach 3GB before they vanish. Word.