GPU Mining Is NOT Profitable In My HOUSE - October 2018 Mining Farm Update

[MagicSmoker]

I turned off everything except for a rig with RX560/570 cards that are mining a CN-fork coin and just barely making $0.20/day of profit after electricity. If I were selling what I mined on a daily basis this wouldn't be worth the bother, but since I am hodling the coins the modest profitability means I am making more coins per day than I could get from buying for the same cost as the electricity.

However, if the profit turns into a loss - as it has with the Equihash and Ethash coins I was mining - then I will turn this last rig off, too, and buy coins instead.

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[Metroid]

The best thing is to buy coins directly cause it tell us that these coins will have their prices multiplied by many times in the coming months. Do not be surprised if you see eth for $1500 march next year.

[dagarair]

The best thing is to buy coins directly cause it tell us that these coins will have their prices multiplied by many times in the coming months. Do not be surprised if you see eth for $1500 march next year.

This I agree with.  If you are not into mining already, take all that $ you were going to spend on a miner and buy coins with it.

[Thekool1s]

Mining on video cards is currently profitable only with a low price of electricity of about 6-7 cents per kilowatt and below. At the same time, the profit is very small and the number of profitable coins for mining has significantly decreased due to the appearance of many ASICs.

about 12 cents is still profitable on eth on a 470 doing 28 hash.  Not sure what you are talking about.  

You are trolling, right? $4 after a month of mining assuming that the price won't go down is stupid, Mining for making a 'Profit' doesn't make any sense right now. The only way you can justify mining at those rates is if you are looking for virgin coins. That way paying a low premium does make sense Other than that it's pure 'speculative mining' which I haven't been a fan of lately.

[Metroid]

The best thing is to buy coins directly cause it tell us that these coins will have their prices multiplied by many times in the coming months. Do not be surprised if you see eth for $1500 march next year.

This I agree with.  If you are not into mining already, take all that $ you were going to spend on a miner and buy coins with it.

Pumps and dumps happen very fast, last time eth rose many times in few days, from  $7 to $50 and from $50 to $350 and then from $350 to $1400 and then from $1400 to $600 and then from $600 to 200, huge jumps and this time will not be any different, I predict the next eth jump to $700 and then from $700 to $1500 and then from $1500 to $5000 and then $5000 to $9000 and then a crash to $3500.

[dagarair]

Mining on video cards is currently profitable only with a low price of electricity of about 6-7 cents per kilowatt and below. At the same time, the profit is very small and the number of profitable coins for mining has significantly decreased due to the appearance of many ASICs.

about 12 cents is still profitable on eth on a 470 doing 28 hash.  Not sure what you are talking about.  

You are trolling, right? $4 after a month of mining assuming that the price won't go down is stupid, Mining for making a 'Profit' doesn't make any sense right now. The only way you can justify mining at those rates is if you are looking for virgin coins. That way paying a low premium does make sense Other than that it's pure 'speculative mining' which I haven't been a fan of lately.

spot on!

Well I'll tell you now from me mining that i I HAVE NOT LOST $ ANY MONTH during this downturn.  If you all have then I don't know what to tell you.  Numbers don't lie.  Either way, I could give a damn what you all do.  I know where my break even is and even if I ever dip a below it my machines stay on, BECAUSE I KNOW prices will rise you just have to be patient.

[angelslayer]

The best thing is to buy coins directly cause it tell us that these coins will have their prices multiplied by many times in the coming months. Do not be surprised if you see eth for $1500 march next year.

This I agree with.  If you are not into mining already, take all that $ you were going to spend on a miner and buy coins with it.

Pumps and dumps happen very fast, last time eth rose many times in few days, from  $7 to $50 and from $50 to $350 and then from $350 to $1400 and then from $1400 to $600 and then from $600 to 200, huge jumps and this time will not be any different, I predict the next eth jump to $700 and then from $700 to $1500 and then from $1500 to $5000 and then $5000 to $9000 and then a crash to $3500.

After all the hype, the crypto market will not be as wild as a year ago, I believe they will gradually and slowly go up and if there's any FUD, it will bring down the price sharply again, the crypto market still need at least 1-2 years to be more stable, this is my opinion only.

[nsummy]

Mining on video cards is currently profitable only with a low price of electricity of about 6-7 cents per kilowatt and below. At the same time, the profit is very small and the number of profitable coins for mining has significantly decreased due to the appearance of many ASICs.

about 12 cents is still profitable on eth on a 470 doing 28 hash.  Not sure what you are talking about.  

You are trolling, right? $4 after a month of mining assuming that the price won't go down is stupid, Mining for making a 'Profit' doesn't make any sense right now. The only way you can justify mining at those rates is if you are looking for virgin coins. That way paying a low premium does make sense Other than that it's pure 'speculative mining' which I haven't been a fan of lately.

spot on!

Well I'll tell you now from me mining that i I HAVE NOT LOST $ ANY MONTH during this downturn.  If you all have then I don't know what to tell you.  Numbers don't lie.  Either way, I could give a damn what you all do.  I know where my break even is and even if I ever dip a below it my machines stay on, BECAUSE I KNOW prices will rise you just have to be patient.

I think the difference is that you have a giant mining facility.  You obviously are prepared to mine through the good and the bad.  For the average miner though I don't think the ends justify the means right now.  Yes netting 50 cents per card is still profit, but your time is worth something, and equipment depreciates.  Personally I think by the time the crypto market rebounds, there will be a whole new generation of GPUs out there.  I can definitely see why people are selling off their hardware to wait the storm out.

Or let me put it this way.  In the  time spent researching new coins, downloading new miners, driver updates treaks etc, most miners could make more daily doing tasks on Amazon Mechanical Turk 

[dagarair]

Don't get me wrong I agree that profits suck right now, but they are still profits.  I have always said, if you have to sell coin now to pay your electric bill then sell your stuff off as you will not make it.  If you can hold it, keep on mining. 

[angelslayer]

Don't get me wrong I agree that profits suck right now, but they are still profits.  I have always said, if you have to sell coin now to pay your electric bill then sell your stuff off as you will not make it.  If you can hold it, keep on mining. 

Totally agree with it!

Mining is a different ball game in the crypto world, that miners do not always seek for short-term profits, if you are, you need to go to the crypto exchange and trade them, then you get your returns faster. As a miner, you hold as many coins as possible, when the market is bad, that means good for mining, as you are able to mine more amount of coins or tokens because more ppl are giving up in mining, we get the chance from here...

Think differently and you will be profitable when the market comes back, maybe another 1 year or so...

[dagarair]

Don't get me wrong I agree that profits suck right now, but they are still profits.  I have always said, if you have to sell coin now to pay your electric bill then sell your stuff off as you will not make it.  If you can hold it, keep on mining. 

Totally agree with it!

Mining is a different ball game in the crypto world, that miners do not always seek for short-term profits, if you are, you need to go to the crypto exchange and trade them, then you get your returns faster. As a miner, you hold as many coins as possible, when the market is bad, that means good for mining, as you are able to mine more amount of coins or tokens because more ppl are giving up in mining, we get the chance from here...

Think differently and you will be profitable when the market comes back, maybe another 1 year or so...

That's the plan!  Hopefully sooner now that Fidelity Investments started a new crypto branch!

[Thekool1s]

Well I'll tell you now from me mining that i I HAVE NOT LOST $ ANY MONTH during this downturn.  If you all have then I don't know what to tell you.  Numbers don't lie.  Either way, I could give a damn what you all do.  I know where my break even is and even if I ever dip a below it my machines stay on, BECAUSE I KNOW prices will rise you just have to be patient.

Even with 0.15$/Kwh I wasn't either. I was still 'racking' in like $15 per rig after the costs. But the time I had to spend diagnosing things wasn't worth it all. Sometimes a riser would malfunction others the pool would just temporary ban my rigs for not sending in enough shares. I had GTX 1070s in all of my rigs. It's just that I could do better things with my time than diagnosing different issues every other day.

Or let me put it this way.  In the  time spent researching new coins, downloading new miners, driver updates treaks etc, most miners could make more daily doing tasks on Amazon Mechanical Turk

This! I was losing time for my freelancing. I am glad I took the right step.

Don't get me wrong I agree that profits suck right now, but they are still profits.  I have always said, if you have to sell coin now to pay your electric bill then sell your stuff off as you will not make it.  If you can hold it, keep on mining.

For me it was from day 1, All of my costs were getting covered by mining. The bull run helped me achieve the ROI thankfully. But I am a bit tired of 'speculative mining' i have nothing against people who are doing it. I respect their decision But I have had my fair share of the mining venture and currently, mining isn't for me.

[Metroid]

Even with 0.15$/Kwh I wasn't either. I was still 'racking' in like $15 per rig after the costs. But the time I had to spend diagnosing things wasn't worth it all. Sometimes a riser would malfunction others the pool would just temporary ban my rigs for not sending in enough shares. I had GTX 1070s in all of my rigs. It's just that I could do better things with my time than diagnosing different issues every other day.

People as stupid as they are, they do not count things like that, if whattomine tell them they are making $0.15 per card they think they are making that, they are that stupid cause they might be probably negative -$0.30 per card, your hashrate is never 100%, sometimes is not even 80% real, if you have 1000mh's, your true hashrate is 25% less in the pool + risers and other things that you need to spend for everything to be functioning. The truth is, if 1 x gpu is making you less than $0.60 after electricity costs then forget mining, is time to buy coins instead.

[d57heinz]

Even with 0.15$/Kwh I wasn't either. I was still 'racking' in like $15 per rig after the costs. But the time I had to spend diagnosing things wasn't worth it all. Sometimes a riser would malfunction others the pool would just temporary ban my rigs for not sending in enough shares. I had GTX 1070s in all of my rigs. It's just that I could do better things with my time than diagnosing different issues every other day.

People as stupid as they are, they do not count things like that, if whattomine tell them they are making $0.15 per card they think they are making that, they are that stupid cause they might be probably negative -$0.30 per card, your hashrate is never 100%, sometimes is not even 80% real, if you have 1000mh's, your true hashrate is 25% less in the pool + risers and other things that you need to spend for everything to be functioning. The truth is, if 1 x gpu is making you less than $0.60 after electricity costs then forget mining, is time to buy coins instead.

No what’s stupid is doing the same thing over expecting different results. Who in their right mind buys into crypto knowing the big players have the whole system gamed. And at any time it can be dumped 70-90%.  I get it one likes to gamble but I mean come on.  If you think rational investors are on board with this then good luck.  But as we know people run off emotion and opinions not facts so I suppose bitcoin and the likes could goto 1mil$ per coin. But then when we see the blood in the streets we have people homeless in mass quantities.  Ohh boy I can get really get behind that. Fleecing my neighbors. That makes me feel all warm inside right?  This is such a joke. Buy the coins. Nothing has changed except more manipulators are in the game. Buyer beware!

[VoskCoin]

Even with 0.15$/Kwh I wasn't either. I was still 'racking' in like $15 per rig after the costs. But the time I had to spend diagnosing things wasn't worth it all. Sometimes a riser would malfunction others the pool would just temporary ban my rigs for not sending in enough shares. I had GTX 1070s in all of my rigs. It's just that I could do better things with my time than diagnosing different issues every other day.

People as stupid as they are, they do not count things like that, if whattomine tell them they are making $0.15 per card they think they are making that, they are that stupid cause they might be probably negative -$0.30 per card, your hashrate is never 100%, sometimes is not even 80% real, if you have 1000mh's, your true hashrate is 25% less in the pool + risers and other things that you need to spend for everything to be functioning. The truth is, if 1 x gpu is making you less than $0.60 after electricity costs then forget mining, is time to buy coins instead.

I do think people take WTM values way too literally, as you said you could be making less . . or you could be making more

However some factors people always forget or like to leave out are --- you running these inside your home? how is that impacting your AC? Sure it can save you on heat some, but as someone who did that all last winter -- its difficult to do without getting hot/cold spots depending on your home.

I do think as far as heating goes it is perfect for a garage esp. w/ an uninsulated door as it'll bring the overall temp up to a nice area

But anyway my point was just that there are variations / luck + cooling cost of home and/or supplemental equipment like exhaust fans + the incredible time sink it is once a rig goes down, or even deploying a rig just to make a couple dollars a day with hardware that cost a couple thousand.


Disclaimer I do not mean to sound so negative, obviously I love mining and a huge fan of it -- but personally for me, GPU mining doesn't bring me in enough value w/ my setup / electric rate and these current low crypto prices.

[HashAltcoin]

try FPGA miner to mine shitcoin

[Metroid]

I do think people take WTM values way too literally, as you said you could be making less . . or you could be making more

You never make more, always much much less, if whattomine says $0.15 per gpu then that means minus/negative $0.30 cause $0.15 never pays anything in the end cost, I mean, if a gpu is earning $2 per day then to pay for extra things that is $0.30 per gpu + the electricity which is around $0.40 per gpu if you pay $0.10 per kwh, in the end is $0.30 + $0.40 =$0.70, that is the cost with electricity per gpu just to keep it functioning. See my point, that is why I always tell people, if a gpu is making less than $1 per day then mining is not even worth thinking cause in the end you will be making only $0.30 per gpu and if the gpu cost $300 then it makes the roi to be 1000 days, that is if a gpu is making $1 per day, at moment is making $0.05 per day per gpu net not counting the extra things, electricity included. A rx 570 was making 10 usd per day and that was bullshit and so is this, very extreme both sides, I myself was hoping profitability per gpu would stay at least $1.30 for many years, that way asics companies would not bother about it, sadly there was nothing anybody could do cause common sense was out of control.

The question is how long this nonsense will last, profitability cant stay like this, are people so beyond stupid to sell their coins at this price. It seems they are.

PS: I have been buying coins and will keep till January 2019 and then hold until 2021. This is the best time to buy.

[VoskCoin]

I do think people take WTM values way too literally, as you said you could be making less . . or you could be making more

You never make more, always much much less, if whattomine says $0.15 per gpu then that means minus/negative $0.30 cause $0.15 never pays anything in the end cost, I mean, if a gpu is earning $2 per day then to pay for extra things that is $0.30 per gpu + the electricity which is around $0.40 per gpu if you pay $0.10 per kwh, in the end is $0.30 + $0.40 =$0.70, that is the cost with electricity per gpu just to keep it functioning. See my point, that is why I always tell people, if a gpu is making less than $1 per day then mining is not even worth thinking cause in the end you will be making only $0.30 per gpu and if the gpu cost $300 then it makes the roi to be 1000 days, that is if a gpu is making $1 per day, at moment is making $0.05 per day per gpu net not counting the extra things, electricity included. A rx 570 was making 10 usd per day and that was bullshit and so is this, very extreme both sides, I myself was hoping profitability per gpu would stay at least $1.30 for many years, that way asics companies would not bother about it, sadly there was nothing anybody could do cause common sense was out of control.

The question is how long this nonsense will last, profitability cant stay like this, are people so beyond stupid to sell their coins at this price. It seems they are.

PS: I have been buying coins and will keep till January 2019 and then hold until 2021. This is the best time to buy.

FWIW I have beaten WTM figures significantly many times, and been under them many times as well

What do you think are proper realistic earnings for a healthy gpu mining community? 1 dollar per day after electric paid? 50 cents? obviously a ton of variables but interested to hear more of your thoughts on that

[Meteorite777]

I do think people take WTM values way too literally, as you said you could be making less . . or you could be making more

You never make more, always much much less, if whattomine says $0.15 per gpu then that means minus/negative $0.30 cause $0.15 never pays anything in the end cost, I mean, if a gpu is earning $2 per day then to pay for extra things that is $0.30 per gpu + the electricity which is around $0.40 per gpu if you pay $0.10 per kwh, in the end is $0.30 + $0.40 =$0.70, that is the cost with electricity per gpu just to keep it functioning. See my point, that is why I always tell people, if a gpu is making less than $1 per day then mining is not even worth thinking cause in the end you will be making only $0.30 per gpu and if the gpu cost $300 then it makes the roi to be 1000 days, that is if a gpu is making $1 per day, at moment is making $0.05 per day per gpu net not counting the extra things, electricity included. A rx 570 was making 10 usd per day and that was bullshit and so is this, very extreme both sides, I myself was hoping profitability per gpu would stay at least $1.30 for many years, that way asics companies would not bother about it, sadly there was nothing anybody could do cause common sense was out of control.

The question is how long this nonsense will last, profitability cant stay like this, are people so beyond stupid to sell their coins at this price. It seems they are.

PS: I have been buying coins and will keep till January 2019 and then hold until 2021. This is the best time to buy.

FWIW I have beaten WTM figures significantly many times, and been under them many times as well

What do you think are proper realistic earnings for a healthy gpu mining community? 1 dollar per day after electric paid? 50 cents? obviously a ton of variables but interested to hear more of your thoughts on that

Vosk,

I don't think it makes much sense to compare things in terms of flat $USD per day. Much more logical to compare in terms of ROI as we have been doing for years, that equates all things and keeps it relative by eliminating variables such as card price, hashrate, electricity price, etc.

I too have beaten and been under WTM figures many times. I think something people need to realize is that unless they are literally selling every day, they are chasing the coins that have already pumped on WTM. Rather than mine RVN right now, get low amount of coins because of high difficulty surge, and then only to get dumped on because price doubled over a day or two; I'd rather mine coin that hasn't pumped yet like BTG and sit on my stack.

For example, I mined RVN for the past few months on and off while it was low in price and under the radar and sold off on yesterdays pump to 500 sat. I netted much more than WTM claimed I would because I stockpiled a low diff and low price coin. Now that difficulty and price surged I moved off to other things and hope to repeat the cycle. If you are one of the few people that actually DO auto-convert all your mined coins or sell them daily; then yes it makes more sense to mine the top coin and convert to what coin you want daily. In practice and for the rest of us that mine and sit on a stack, be careful of chasing WTM figures.

-Meteorite

[Metroid]

What do you think are proper realistic earnings for a healthy gpu mining community? 1 dollar per day after electric paid? 50 cents? obviously a ton of variables but interested to hear more of your thoughts on that

To be fair to both sides, $1.30 and with that price per gpu per day we will see midrange gpus like rx x70 or rtx x600 around $150 which in turn roi will be around 150 -200 days maximum and that is what it was supposed to be, remember when rx 470 was launched, mining eth with it used to give $1.30 and gpu cost was $170, roi less than 200 days and more than 150 days is a must. Perfect roi time, 150 to 200 days, less or more than this is not good for the gpu mining as a whole.

The highest income rx 470 made was around $10 per day and now the lowest $0.05 per day, talk about extremes.