50 GPU Mining Farm Earns Less Than $10 A Day - VoskCoin Mining Farm Profits

[VoskCoin]

There are 50 Graphics Cards mining in my voskcoin mining shed, and after paying my electric bill I am earning less than $10 dollars per day in September 2018.

https://youtu.be/3dpJnw8q3J8


Buy 1070 TI to mine Aion or BTG - http://geni.us/021w
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I review the profitability of my mainly GPU mining farm and why I sold my Bitcoin ASIC miner. I review the mining profitability of LOKI Network as well as AION mainnet and Ethereum Classic. I also discuss the main cryptocurrencies that I am currently holding which include but are not limited to ZenCash/Horizen, LOKI, AION, Bitcoin, NEO, Ontology, Ravencoin, Ethereum, Ethereum Classic, and several others.

Is GPU mining dead / dying? Time will tell however with the recent abandonment of most Equihash coins in regards to their GPU miners as well as the Ethereum Devs. . it is not looking good.

Mining Rig Parts IN STOCK on Amazon - http://geni.us/WQd7cCs

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VoskCoin Official Donation Addresses, support appreciated!
BTC - 12PsgKuhcJrEqJbD3oMN7rcEcuyqyqRznL
ETH - 0xDEe6A2ae293F8C58Ef71649658344BbF382b6e70
ZEN - znb1iNFP6VctF2AhXLXtMsSjP7emvYDmeXR
Loki - LScbLXmws9RA4SXVz5GhGm3N2YfKShw6MQGeyAjYc3bE5nYHUw3UUWxgKGN8kCnWQkfZEGN1PBxX7Zk y3aVJSpGxTZTuDLB

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[Xazax310]

RIP everyone. I'm sticking through it however.

[9600]

Reminds me of early 2015.
You want my bad advice?
Stick it out.
Accumulate coin.

[percy_tc]

It's time to get rid of quick profit looking greedy people.   Sell your stuff, while you can

[makemininggreatagain]

1 Word.  ok its not even a word..  HODL.

I feel the pain on the gpu (and asic) farming, we need to make mining great again.  

A year ago people said dont buy GPU/ASIC, take the money and invest it in the coin instead.  I didn't listen, I doubled down....

Well if you had followed that advice to take the same money instead of buying mining equipment, just buy coins at the prices a year ago --- you would of lost 60-70% of that investment.   At least putting it into mining hardware, you have some coin, some experience (that will help in some way some day in a career, or side project), and you can keep running it in the 'red' and HODL.  Don't bother trying to sell the gear on ebay - its like trying to sell your coin at the bottom, its just too late.  Ride it out.

[Marvell2]

1 Word.  ok its not even a word..  HODL.

I feel the pain on the gpu (and asic) farming, we need to make mining great again.  

A year ago people said dont buy GPU/ASIC, take the money and invest it in the coin instead.  I didn't listen, I doubled down....

Well if you had followed that advice to take the same money instead of buying mining equipment, just buy coins at the prices a year ago --- you would of lost 60-70% of that investment.   At least putting it into mining hardware, you have some coin, some experience (that will help in some way some day in a career, or side project), and you can keep running it in the 'red' and HODL.  Don't bother trying to sell the gear on ebay - its like trying to sell your coin at the bottom, its just too late.  Ride it out.

yeah , who would have thought we would see such a drop, the people who bought gpus at decent prices
i.e close to retail are the only ones who might survive by selling off gear. 

everyone else is getting reckt.

good thing that comes out of this is if this lasts another year shitmain might go bankrupt , from what i hear they are quite overextended, put in too many orders for thier shity chips. 

[adaseb]

1 Word.  ok its not even a word..  HODL.

I feel the pain on the gpu (and asic) farming, we need to make mining great again.  

A year ago people said dont buy GPU/ASIC, take the money and invest it in the coin instead.  I didn't listen, I doubled down....

Well if you had followed that advice to take the same money instead of buying mining equipment, just buy coins at the prices a year ago --- you would of lost 60-70% of that investment.   At least putting it into mining hardware, you have some coin, some experience (that will help in some way some day in a career, or side project), and you can keep running it in the 'red' and HODL.  Don't bother trying to sell the gear on ebay - its like trying to sell your coin at the bottom, its just too late.  Ride it out.

yeah , who would have thought we would see such a drop, the people who bought gpus at decent prices
i.e close to retail are the only ones who might survive by selling off gear. 

everyone else is getting reckt.

good thing that comes out of this is if this lasts another year shitmain might go bankrupt , from what i hear they are quite overextended, put in too many orders for thier shity chips. 

I think the reason why we are getting such a drop is because people are sitting at negative ROI and it leads to these sell pressures.

Basically if you ever frequent the ethereum reddit most people on there basically dump their ETH for USD as soon as they get a payout from the pool because they need to pay for their 1080Ti and their electricity.

In a panicky market such as today, there are less willing buyers but the same amount of miners which dump prematurely and cause these huge 25% declines.

Also there are people who bought all their GPUs on Newegg and bought $20K worth of equipment and are paying interest at 20% APR which is like $300 a month in interest which isn't even enough from their mining profits. The same happened in 2014.

[Oakey22]

Profits have dropped off really fast lately as most people have already ROI on their gear and selling at anything above the price of electricity.

[Geraldo]

I agree that in general, GPUs mining might "dying" nowadays, that are measured by hows most miners doing mining. Let's say, most miners doing pooled, and doing mining on (public) most profitable coins (-that appear on coins profitability sites). And also the average of miner's electricity cost, and some other thing. Correct me if I'm wrong!

For a few miners (farmers or even home miners), there still some space for them. They still get enough profit. I'm not talking about bullshit, I'm still on the green zone so far with my mining way.

I don't want to say that this is easy. That was so hard, yes or maybe a bit hard.  I'm just doing this:

(FYI, I'm taking daily profit from my miner activity)
Find some coins that already have a price, Old nor new one coins it's no problem, then calculate the coin profitability for solo mining. ([Global Hashrate + Difficulty], block time, price, and some other thing) Needed on calculation. When you have the result, you are ready to go. I'm not using all of my rigs for one-coin solo mining (depend on the calculation result). Sometimes I was splitting my rigs to be a few groups, e.g., four rigs for "A" coin, another four for "B" coin and so on.

If you think 4-5 standard rig (6 GPUs each rig) can't doing solo mining (-for old nor new coins) and then getting some profit, you are wrong. 

[Piskeante]

jajajajajaja

I still remember some guys saying that they were mining at a loss and would continue doing it. Prices dropped more and they gave up. There is no biggest power than seing $ going out of your pocket to understand you were in a huge error.

Please, tell this stupid guy to turn them OFF.

[Metroid]

Great initiative to make this video telling the truth about the current state of cryptography mining, most people only create videos showing it off when they are making money. This video will show them that mining is over and the only way is to buy cryptocoins.

[Geraldo]

jajajajajaja

I still remember some guys saying that they were mining at a loss and would continue doing it. Prices dropped more and they gave up. There is no biggest power than seing $ going out of your pocket to understand you were in a huge error.

Please, tell this stupid guy to turn them OFF.

I assume that you are not a miner or maybe already sold all the GPU 

Great initiative to make this video telling the truth about the current state of cryptography mining, most people only create videos showing it off when they are making money. This video will show them that mining is over and the only way is to buy cryptocoins.

And of course, isn't surprised when Metroid talking about GPU mining. 

[shield132]

Oh, you have 68K subscribers, you are popular on youtube Congrats... Liked your video.
Bitmain made asic miners for ethereum and other altcoins but GPU mining will not end in near future. Personally the only GPUs I would hold currently would be Nvidia's cards like gtx 1070 and up. Did you remember that ROI for gtx 1080ti was 2 month at the moment in winter? They worked amazingly for NeoScrypt coins as I remember so there will come time when their price go up and GPU (especially Nvidia) mining will become more profitable than asic for ethereum and so on.

[tg88]

I think the reason why we are getting such a drop is because people are sitting at negative ROI and it leads to these sell pressures.

Basically if you ever frequent the ethereum reddit most people on there basically dump their ETH for USD as soon as they get a payout from the pool because they need to pay for their 1080Ti and their electricity.

In a panicky market such as today, there are less willing buyers but the same amount of miners which dump prematurely and cause these huge 25% declines.

Also there are people who bought all their GPUs on Newegg and bought $20K worth of equipment and are paying interest at 20% APR which is like $300 a month in interest which isn't even enough from their mining profits. The same happened in 2014.

Action and reaction.

[d57heinz]

I think the reason why we are getting such a drop is because people are sitting at negative ROI and it leads to these sell pressures.

Basically if you ever frequent the ethereum reddit most people on there basically dump their ETH for USD as soon as they get a payout from the pool because they need to pay for their 1080Ti and their electricity.

In a panicky market such as today, there are less willing buyers but the same amount of miners which dump prematurely and cause these huge 25% declines.

Also there are people who bought all their GPUs on Newegg and bought $20K worth of equipment and are paying interest at 20% APR which is like $300 a month in interest which isn't even enough from their mining profits. The same happened in 2014.

Action and reaction.

Yep and those people won’t be back.  Keep this shit up and the users of crypto will beg for regulation.  Problem with price is this system is running out of fools.  End game is for a cheap reliable way to transfer money.  If the price is at moon how will it be economical.  Stop fooling yourself into thinking you will get rich.  Their is far smarter people with more money than they know what to do with.  They are reading these posts and laughing at our expense.  It’s a shameful act but such is life.   And those of you laughing at bitmain. Soon you will be in the same predicament. If bitmain cant figure it out. What makes you so sure you have it figured out.   Buyer Beware!!!

[sundownz06]

I'm still making money after power costs; even on CPUs -- still going at it.

[TakeItEasy]

1 Word.  ok its not even a word..  HODL.

I feel the pain on the gpu (and asic) farming, we need to make mining great again.  

A year ago people said dont buy GPU/ASIC, take the money and invest it in the coin instead.  I didn't listen, I doubled down....

Well if you had followed that advice to take the same money instead of buying mining equipment, just buy coins at the prices a year ago --- you would of lost 60-70% of that investment.   At least putting it into mining hardware, you have some coin, some experience (that will help in some way some day in a career, or side project), and you can keep running it in the 'red' and HODL.  Don't bother trying to sell the gear on ebay - its like trying to sell your coin at the bottom, its just too late.  Ride it out.

Such conversations occur every year.
I think mining on the GPU/CPU will never die. New coins come out, new algorithms appear only under the GPU or the CPU.
Video cards can mine everything, they are omnivorous, unlike ASICs.
And in the mining on video cards there is a share of enthusiasm...I like it.
Honestly, I never used my RIGs to make profit. I never sell new coins on next day. I'm watching the launch of new altcoins, mine them and HODL.
 

[Metroid]

I think the reason why we are getting such a drop is because people are sitting at negative ROI and it leads to these sell pressures.

Basically if you ever frequent the ethereum reddit most people on there basically dump their ETH for USD as soon as they get a payout from the pool because they need to pay for their 1080Ti and their electricity.

In a panicky market such as today, there are less willing buyers but the same amount of miners which dump prematurely and cause these huge 25% declines.

Also there are people who bought all their GPUs on Newegg and bought $20K worth of equipment and are paying interest at 20% APR which is like $300 a month in interest which isn't even enough from their mining profits. The same happened in 2014.

This is the perfect example on why people are not buying eth right now, they think those stupid people who bought thousands of dollars in mining equipment will have to sell their eth regardless of the price to pay the bills ehhe, funny is after they sold all their eth and quit mining then eth goes back to 1500 usd and up hehe and then those stupid people want to get back and mining and the cycle restarts hehe, they will never learn their lesson hehe

They must never sell their eth at his price, they should right now get a new loan and use it to pay the debts they have then as eth gets back to 2k plus usd then they can sell.

[Za1n]

1 Word.  ok its not even a word..  HODL.

I feel the pain on the gpu (and asic) farming, we need to make mining great again.  

A year ago people said dont buy GPU/ASIC, take the money and invest it in the coin instead.  I didn't listen, I doubled down....

Well if you had followed that advice to take the same money instead of buying mining equipment, just buy coins at the prices a year ago --- you would of lost 60-70% of that investment.   At least putting it into mining hardware, you have some coin, some experience (that will help in some way some day in a career, or side project), and you can keep running it in the 'red' and HODL.  Don't bother trying to sell the gear on ebay - its like trying to sell your coin at the bottom, its just too late.  Ride it out.

Totally False.

If you had sold all your GPUs one year ago (early Sept 2017), you would have been able to to buy coins at a price at, or lower than, what they are today (BTC was trading in the $2k region, ETH was trading almost exactly where we are now in low $200's). If you had bought coins and then sold at or near the highs which didn't come until December for BTC or January 2018 for ETH, you would have made way more than you could possibly mine in that same short time period. Also selling at the highs and re-buying now again at your original entry point, you would have not only made a ton of money, but also been able to buy back all your original coins. So no matter what you would have been in a better postillion than simply mining.

People who bought rigs one year ago and mined may have made a bit of profit during the run-up, possibly even paying off their gear, but they didn't make the equivalent to what someone who stuck to coins would have.

The only miners who really came out are the ones who were mining way before the start of 2017, when you could mine a block (5 ETH) every day or two with just one rig. So even people with a modest 3-4 rig setup were probably mining 10 ETH per day on average or 300 ETH per month. Yeah, they made out real well if they had the patience to wait it out and sell off near the top. Even selling at $1k per ETH would have made them a tasty $300,000 return on their 1 month pre-2017 mining. But miners just getting in mid-2017 the difficulty was already ramping up they might have had a month or two of profits, but that quickly dried up. Also the block reward reduction from 5 ETH to 3 ETH further put the pressure on profits.

[dagarair]

Key though, you are still earning 10$ a day.  Yeah it sucks but if you saw 10$ in the street you wouldn't walk over it would you?

I have 50gh on eth and seeing that price drop is very crappy, damn you goldman sachs!  It will recover and honestly if i had extra $ i'd buy all the eth i could.