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Author Topic: Is it profitable to start small-scale rig mining nowadays?  (Read 238 times)
Ascaris
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August 12, 2018, 02:48:41 AM
 #1

Hi, I´m from Argentina and I wanna start a small scale mining rig (2-4 GPUs, and then add some more as the money flows  Cool).Where I live, electricity costs about 0,04 USD, so that wouldnt be a problem, the thing is: Is really profitable to start mining now, with this amount of GPUs and a rising difficulty? I wanted to ask someone with experience in the subject before doing any investment, so thanks in advance  Grin.
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RentGPU
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August 12, 2018, 03:02:51 AM
 #2

I can tell you after two years mining nonstop
The time now is the hardest i saw in relation to difficulty not prices.
My suggestion for you don't ever think now of buying a mining rig , it's a very bad timing even if electricity costs zero

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August 12, 2018, 03:13:50 AM
 #3

Online calculators will tell you today's profitability and current difficulty

you can at least compute how much you could earn, if there's any

it will be in a different story tomorrow as difficulty might rise or fall

and to be honest, GPU mining is in the verge of being profitable or not due to asic and FPGA interventions

oh btw this is a great read with same questions being ask

https://bitcointalk.org/index.php?topic=2208927.msg22248565#msg22248565




Ascaris
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August 12, 2018, 03:17:28 AM
 #4

Jajajaja didnt find that post before, or else I wouldnt have posted this. Thanks to both!
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August 12, 2018, 12:52:31 PM
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At the cost of $ 0.04 kwh, I would invest without fear.

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August 12, 2018, 02:10:34 PM
 #6

Hi, I´m from Argentina and I wanna start a small scale mining rig (2-4 GPUs, and then add some more as the money flows  Cool).Where I live, electricity costs about 0,04 USD, so that wouldnt be a problem, the thing is: Is really profitable to start mining now, with this amount of GPUs and a rising difficulty? I wanted to ask someone with experience in the subject before doing any investment, so thanks in advance  Grin.
If you start GPU mining it is right time because recently market is down so difficulty is less in current situation. But you have only 2 to 4 GPU your profit is not satisfied to you so better buy 8 GPU card you will get decent profit and one more thing day by day market is move to forward so your GPU card hash rate is not valid for long time. May be 2019 or 2020 it will reduce the performance so you can also update the mining.

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August 12, 2018, 02:22:41 PM
 #7

Let me make you an example of how much you will make with that cost of electricity and by taking 4 graphic cards which costs really cheap nowadays like the Rx 570 4gb , although even 8 gb costs relatively cheap too.

By mining with 4 of these cards with modified bios and a normal 150 watt although they consume less, will make you 0.45 mBTC daily equals to 2.85 dollars.

Now these consumes 0.6 kwat an hour so it is 0.6x24=14.4 kwat daily which equals to 0.576 USD, so in the end you profit daily at
2.85-0.576=2.274 dollars or monthly at 68.22 dollars which is just 0.0115 BTC monthly.

Hope this helps, as you can see it is profitable without taking into consideration the build cost, but considering the money needed to build such a system, it doesn't seem that profitable to me.

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Ascaris
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August 12, 2018, 03:19:21 PM
 #8

Thank you all, I think I will buy 2 Vega 56 and build an expandable rig. The *unreliable* calculators estimate 55 usd/month mining monero (I know how volatile this market is) which seems like a good starting point.
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August 12, 2018, 05:32:29 PM
 #9

He said is from Argentina and that means 50% import tax which means a rx 570 which can be bought in online stores for around $250 in the USA, in Argentina you trolls need to add 50% to that price and then you trolls can give him advice if is worth or not.

"Argentina operates a Simplified Tax Regime on postal imports wherepersonal imports valued between $25 and $999 are subject to a flat tax rate of 50%."

https://www.importdutycalc.com/country-guides/Import-duty-taxes-when-importing-into-Argentina/

So as I clarified things up, then you Ascaris should see right here if is worth investing on it. So lets by parts, a celeron cpu $40, 6 rx 570 = $1250, psu = $200, memory $100, ssd $70, motherboard $120, risers $50, now the total 40 +1250 + 200 + 100 + 70 + 120 = 1830 dollars, now put 50% more from import tax = $2287, now you have the total value you are going to spend more or less, each rx 570 will consume 120 watts + other things, so 840 watts, i already calculated to you your return of investment, with electricity at $0.04 will take you 2 years or 702 days to get your money back, is it worth your time and money, no, cause if you buy cryptcoins right now and wait 2 years then your cryptocoins will be worth 5 to 50 times or 500% to 5000% hassle free more whereas mining might give you only your money back which is 100% and will give you lot of headache plus if one gpu dies then your roi is 18% delayed, from 2 years to 2 years and half cause forget warranty if you live in argentina cause they dont give it. So all in all, dont waste your precious time with mining.

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=180&p=840&fee=2&cost=0.04&hcost=2287&commit=Calculate

Also as I said many times, mining to be profitable needs to give your money back in less than 100 days. Does it give your money back in 100 days or less? no, so it is not profitable to you and for that matter to nobody, earning peanuts and being happy about it, is the same as people working very hard for a minimum wage and the rich laughing at you. Do not be an idiot, be smart.

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leonix007
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August 12, 2018, 11:44:28 PM
 #10

For people who want to donate to victims of the earthquake in Indonesia Lombok, west nusatenggara, we need your helping hand.

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Wrong Thread Dude

At least don't hijack some threads

Request to move this instead

Either you're a legit or not, proper posting here should be ethical

I'd rather donate on a legit site with a transparent systems in place Wink
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August 13, 2018, 02:42:12 AM
 #11

Yes it is profitable as long as done right.  You will have to educate yourself and learn the right way, so ask a lot of questions.  For example if you were to buy all lower processing Nvidia 1030 cards it wouldn't be profitable.  And if you mined the wrong coins it wouldn't be profitable.  But at .04Kwh you are at a very good price with electricity.  Buy the right cards at a good price, mine the right coins and you should do okay.
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August 13, 2018, 03:44:57 PM
 #12

How many years or months do the GPUs last before they become obsolete (in mining)? Of course I know there are no real dates or a way to be sure of this but maybe an approximation? Im thinking of buying 2 vega 56
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August 13, 2018, 06:20:11 PM
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It can be profitable for sure, you should look at mining sites and calculate everything before starting. Such sites are really beneficial.

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August 13, 2018, 06:57:13 PM
 #14

The biggest impact on mining profitability comes in the form of future pricing speculations.

If blockchain technology continues to penetrate different industries and it's adoption continues to grow the price of crypto will inevitably increase.

Using only real time profitability to make your decision is like finishing half a puzzle and calling it complete.
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August 13, 2018, 07:03:55 PM
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How many years or months do the GPUs last before they become obsolete (in mining)? Of course I know there are no real dates or a way to be sure of this but maybe an approximation? Im thinking of buying 2 vega 56


When buying GPUs the average people have used to calculate ROI return on investment is 10 months.   And useful life I've heard of someone saying 2 years.  But NVIDIA is supposed to be releasing a new series of cards.  But no one knows when they will release them.  When they do it should have an impact on your existing cards ROI and life expectancy to the negative.
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