MiNinG iS DeAd

[rantern]

unless you know what you are doing

i started mining last july

my rigs have been paid off by the value of my altfolio

currently, it costs me about $12 per day to mine about $30 worth of ethereum per day

in the current market conditions, thats pretty damn good

so for the noobies

MiNinG iS DeAd, unless you know what you are doing

[P00P135]

unless you know what you are doing

i started mining last july

my rigs have been paid off by the value of my altfolio

currently, it costs me about $12 per day to mine about $30 worth of ethereum per day

in the current market conditions, thats pretty damn good

so for the noobies

MiNinG iS DeAd, unless you know what you are doing

Mining since july, mines Ethereum, says he knows what he's doing, calling other people noobies...

[twthmoses]

Don’t think mining is dead. 100’s of new coins coming each day. Mining 100-500-1000 of these quickly, when difficulty is low, and you are bound to hit one that is worth something….. some day.  Would not have minded mining a few 100 btc in 2009 at difficulty 1, which is was in most of 2009.

Now the idea / system of mining are a dead end if you ask me. Getting paid for… well nothing, other than wasting energy, is, yes you guessed it, unproductive. Then rather a mining systems like BONIC / Gridcoin, where you actually solve something useful with idle computer power.

[adaseb]

I don't understand what you are trying to say exactly.

Basically an RX 470 poorly modded makes like 28.5Mhs and uses 135Watts and with 10 cent power which is the average makes about 32 cents a day where 14 cents goes towards power which is a total revenue of 46 cents. Basically exactly what your numbers are like.

[remauto1187ma]

Oh No! The sky is falling! ...Because Rantern says so.

[newmz]

As someone else may have already pointed out (I was too lazy to read more than the OP), mining has been declared dead so many times before and not just in 2018. I remember people saying that ETH mining would be dead by design (switched to POS) by now ages ago.

I have been mining for quite a while and I have seen this declaration over and over.

It's dead if you are narrow minded, ignorant, lazy or stupid. If however you can read, have some technical skills and a willingness to research and experiment can usually make at least a small daily profit. That's if you only mine for daily profit and you sell out to bitcoin or (worse) FIAT currency often.

If you have the patience to HODL you can get lucky. I wish I had read this advice and paid attention to it in early 2017. I would have made at least $200K.

There are some great projects out there with really interesting and innovative ideas behind them - especially amongst the various coins that use variants of the cryptonight algorithm.

Of course about 90% of coins are either scams or will never really take off, but part of the fun of this hobby (if it is a business to you I pity you) is picking the good ones.

[Anz563]

i bought two AntMiner L3+ in November 2017 for 7 000$, how to pay them back?.. 

[vuli1]

next time buy 4 of them. 

[MOAMiner]

still profitable (click here to see our current testrig stats with current estimates).

personally I'll stick with profit switching for rigs on autopilot - there is slightly more profit if you manually select coins. Sure at the current rates you wont get a lambo, but you can still make a passive income

(we know some mining farms making a really decent profit each month, it's all about scaling for them)

It's also worth to mention, that mining is a way to aquire cryptos absolutely anonymous and untraceable

[nitrobg]

-knows what he's doing
-mines ethereum

lol 

[hizzy2023]

-knows what he's doing
-mines ethereum

lol 

+1

[dagarair]

-knows what he's doing
-mines ethereum

lol 

Not sure why you all laugh, i have 50GH and mine ETH mainly.  It's profitable enough to me and the upside imo is better in the future.  Is it possible to make more mining something else?  Sure, but swapping that many machines, plus fixing issues with swapping because there will be etc is not feasible when you have a crap ton of units.  I jump to other coins, like raven for instance when it showed a daily big (10 + more %) increase for a week.  Then its worth it. 

Just because mining ETH is not profitable for you, don't mean it is for the rest.

[Ljunior]

I agree, Atm must jump to another coin. ETH isn't the end station for the Mining Rig.

[Mattthev]

You need better bios
https://bitcointalk.org/index.php?topic=1954245.0
And maybe mine another coin?
https://bitcointalk.org/index.php?topic=2126975.0

[lunobird]

Mining is not dead for those with centralized cheap power. But for the rest like me paying 30 cents watt rate, it's game over.And no one can argue that.

[adaseb]

-knows what he's doing
-mines ethereum

lol 

Not sure why you all laugh, i have 50GH and mine ETH mainly.  It's profitable enough to me and the upside imo is better in the future.  Is it possible to make more mining something else?  Sure, but swapping that many machines, plus fixing issues with swapping because there will be etc is not feasible when you have a crap ton of units.  I jump to other coins, like raven for instance when it showed a daily big (10 + more %) increase for a week.  Then its worth it. 

Just because mining ETH is not profitable for you, don't mean it is for the rest.

Yes I agree with you. Its not so easy to switch algos because the memory straps might cause instability, or the voltage might be too low and cause hanging, or the drivers might not be optimal.

With myself, I wouldn't switch if it was 10% more profit. I would maybe switch if it was 50% or more profit. Back in the days of making $10/day/GPU, it was maybe worth switching for 10% extra gain because you made $1 more per GPU, so if you got 50 GPUs, that's another $50.

However these days mining a coin which makes extra 10%, and the daily profit being like $0.40 so you get another nickel isn't exactly worth the hassle.

[xxcsu]

Mining ETH ( or other coins with GPU )is still profitable for me , of course i can make way more much less than in the last few months in 2017 and the first few months in 2018

Opened a topic about this on October 5th with a detailed explanation :
" Why its still worth mining ETH ( or other coins) for me "

i bought two AntMiner L3+ in November 2017 for 7 000$, how to pay them back?.. 

Lot of ppl done the same thing, taking a risk, just because they put numbers in any online calculators, and the result  looked amazing, it looked like a  fast way to get rich
For those members, newbies i always suggested to read my another topic i started around that time, when you purchased your miners
You can read it HERE

Today those L3+ miners generating about 2$ a day minus electricity.
You have a option to reduce the power usage for your L3+ with a little bit of understanding how to connect to your miner via SSH connection and type in some codes to the command line. Not all miners are the same ! so what is working with one , might not going to work with another one !
This way you can save around 170Watts / miner , if you paying 0.1$/KWH , then your saving for 1 miner / months can be : around 12$
How to do this , Detailed Information HERE,  Thank You for jstefanop

[MOAMiner]

Mining is not dead for those with centralized cheap power. But for the rest like me paying 30 cents watt rate, it's game over.And no one can argue that.

and noone will. that is a crazy rate for electricity - in that case every investment should go into alternative power. A combination could be even more profitable, invest into alternative power to drive rigs with (better profit than just using the electricty yourself)

[c0ffeelake]

it's still profitable, but not so good as earlier

[adi1972]

For what's it worth, GPU mining is not dead. But I just switch off my rig because I'm barely earning eth after paying for electricity.
I'm now investing my eth in smart contracts that is earning as much as if I own a rig that hashes at 700mh minus the electricity.
My rig does only 240mh.