MiNinG iS DeAd

[FFI2013]

I don't know I've been mining for about 5 years now and mining has died at least 3 times, see some of use are here not to make a quick buck but to push the chains because we believe in cryptocurrency

[1715428126]

1715428126

[stomachgrowls]

I don't know how you make your calculations but they don't sound right. They can be right only if you have free electricity and by 12 dollars daily as cost you take your initial investment at the price you bought the rigs or mining devices.

Nowadays conditions are not worthy anymore, even at the 0.09 dollars/kilowatt energy cost. My colleagues turned their rigs off because one rig with 6 Rx 580 was making 0.0036 bitcoin weekly and 0.015 almost monthly, that is only about 90-92 dollars, they paid energy for a rig 80 dollars so for just 12 dollars monthly profit was not a good idea to keep the rigs on, not worthy.

This is the big picture in Gpu mining nowadays.

Easy to spot problem in here. They need better bios mod... good timings and undervolting. Maybe also mine different coin.

These are the only possible factors but having a daily of $30 minus the expense of $12 which leads to $18 profit everyday will really be hard to believe.
The only thing comes to my mind is about mining a different coin when we do talk on such profitability.

I don't know I've been mining for about 5 years now and mining has died at least 3 times, see some of use are here not to make a quick buck but to push the chains because we believe in cryptocurrency

Miners aim for its sole purpose and foreseeing its potential vs for those miners who are just targeting profitability - these are 2 types of miners actually.

[sundownz06]

Damn... I'm still making profit on CPUs as well as GPUs... why didn't anyone tell me it was dead ? ;-)

[majika]

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...

ROFL.. true.! lol!

I don't know I've been mining for about 5 years now and mining has died at least 3 times, see some of use are here not to make a quick buck but to push the chains because we believe in cryptocurrency

Same here, exactly. I believe in crypto (not all about the money) Also been mining & involved in crypto from the get go. I totally agree, I can remember when past events occured.
1) when CPU > GPU came online
2) when GPU > ASICS came online (Scrypt)
3) Emergence of ASIC specific algo's
4) ASIC resistant algos becoming ASIC minable X11/X13 etc etc.
5) FinCENT and all the KYC and new Crypto Regulation (kind of caused a bit of a stir in mining circles)
These were all times when past events caused upheaval in the mining sphere.. (some more apparent than others)

your forgetting about the free VPS deals with nice usage allowances (if you know where to look Azure for one CPU >> XMR to bits, rinse & repeat.

another reason why your comments fall a little short is b/c you didn't include anything about reducing your primary mining overhead.   ENERGY COSTS.
Start building a 18650 cell power wall, slap-up some solar panels which is an excellent method & one way to decrease operating costs and thus increase profits. Mining is far from dead imho.

FYI one final point. your missing the whole "mining new obscure alts" part,
fair enough you may take the risk of what alts you mine turning to shit.
But... All it takes is one good alt project get in on early @ launch, throw some serious hashrate at it and wait for the project to mature, land on an exchange then offload at premium. (Risky strategy, agreed.. however no risk no reward look at all the X16r / HEX algos coin's just coming on stream atm. Raven and ZEON, XDNA. all potential hotties. RVN being one I was lucky to hop into and make a killing on.

ahh.. another quick thought why mining is NOT dead.. Don't forget the Master nodes route too. There are a lot of projects making use of MN's. Running a dedicated MN or even being part of a group / shared MN scheme can earn you a passive income.

Basing your premise that mining is dead from mining one coin "ETH" in your case can hardly hold true once all things considered from directly mining new alts through to Luck elements Through to running MN's Its the risk we take. Sure markets are down & Prices are shit. costs are high..

Stay strong my fellow miner. This here Crypto game has the habit of changing rapidly, for the worse but also for the better. Look for opportunities (such as Masternodes)

Projects for miners

--Zeon Hex Network is live --
Dynamic . New. ZEON https://discord.gg/KAkXavE http://zeonhexalgo.fun
https://github.com/Pubfred/Zeon_hex
https://bitcointalk.org/index.php?topic=5054188.0

OR
[ANN]XDNA-Revolution in mining|GPU ONLY HEX algo|Charity Support|NoICO|Cryptopia
https://bitcointalk.org/index.php?topic=4517612.0

https://ravencoin.org/

Costs reduction Ideas

1kw DIY PowerWall affordable 18650 build project (2018) - YouTube
https://www.youtube.com/watch?v=hejOT7NF72E

DIY Tesla Powerwall - Solar storage 18650 lithium ion home Battery
https://www.youtube.com/watch?v=CsxElsOh-MI

Some info to know about harvesting 18650 Li-Ion cells from laptop batteries
https://www.youtube.com/watch?v=pvO0Iij8D1c


Ideas on how to source materials
** I'm no way endorsing but simply showing how mining costs can be offset with relatively little outlay AND incrementally **
https://www.aliexpress.com/w/wholesale-rechargeable-battery.html
https://www.aliexpress.com/category/52806/solar-cells.html

[adaseb]

Like the guy who replied on Reddit pretty much summed it up.

If you got 10 cent power, you get to mine ETH basically for $100 a coin. So if you only want a coin or two and don't want a huge risk, you can just mine it and it will cost you $200-$300 in electricity and nothing more. If you buy the coins it will cost you $400-$600.

If ETH goes to $0, then you will only lose half for the same quantity of ETH owned.

I know that some people will say that you got a limitted amount of ETH you can generate a day, yes its true but to the small type investor, an ETH or 2 is all they want and they will hodl' it for the next decade.

This is the reason why the difficulty is still high even though its very difficult to generate any huge gains these days.

[DannadV]

This is true

[xxcsu]

I don't know how you make your calculations but they don't sound right. They can be right only if you have free electricity and by 12 dollars daily as cost you take your initial investment at the price you bought the rigs or mining devices.

Nowadays conditions are not worthy anymore, even at the 0.09 dollars/kilowatt energy cost. My colleagues turned their rigs off because one rig with 6 Rx 580 was making 0.0036 bitcoin weekly and 0.015 almost monthly, that is only about 90-92 dollars, they paid energy for a rig 80 dollars so for just 12 dollars monthly profit was not a good idea to keep the rigs on, not worthy.

This is the big picture in Gpu mining nowadays.

This is my big picture ...well its a 25 days old topic , check my calculation
All my rig are with optimized bios with the right undervolting overclocking ,not with those one click bios modes, with real bios mode , hex editing, optimized for low power usage/highest possible hashrate

[Mattthev]

I don't know how you make your calculations but they don't sound right. They can be right only if you have free electricity and by 12 dollars daily as cost you take your initial investment at the price you bought the rigs or mining devices.

Nowadays conditions are not worthy anymore, even at the 0.09 dollars/kilowatt energy cost. My colleagues turned their rigs off because one rig with 6 Rx 580 was making 0.0036 bitcoin weekly and 0.015 almost monthly, that is only about 90-92 dollars, they paid energy for a rig 80 dollars so for just 12 dollars monthly profit was not a good idea to keep the rigs on, not worthy.

This is the big picture in Gpu mining nowadays.

Easy to spot problem in here. They need better bios mod... good timings and undervolting. Maybe also mine different coin.

These are the only possible factors but having a daily of $30 minus the expense of $12 which leads to $18 profit everyday will really be hard to believe.
The only thing comes to my mind is about mining a different coin when we do talk on such profitability.

There are always coins that you can mine with let say 50-100 USD earn per week with 6x RX 580, but you need switch to other coin the week later or even after only few days I know guys that do this, but you have to check Bitcointalk, Reddit, Slack, Telegram,... every day or even few hours and be quick on exchanges But it might worth for someone.

[Mattthev]

I don't know how you make your calculations but they don't sound right. They can be right only if you have free electricity and by 12 dollars daily as cost you take your initial investment at the price you bought the rigs or mining devices.

Nowadays conditions are not worthy anymore, even at the 0.09 dollars/kilowatt energy cost. My colleagues turned their rigs off because one rig with 6 Rx 580 was making 0.0036 bitcoin weekly and 0.015 almost monthly, that is only about 90-92 dollars, they paid energy for a rig 80 dollars so for just 12 dollars monthly profit was not a good idea to keep the rigs on, not worthy.

This is the big picture in Gpu mining nowadays.

This is my big picture ...well its a 25 days old topic , check my calculation
All my rig are with optimized bios with the right undervolting overclocking ,not with those one click bios modes, with real bios mode , hex editing, optimized for low power usage/highest possible hashrate

Nice! 👍
Did you make those bios? Or buy from guys in here?

[mininghope]

Men, i start mining RAVENCOIN in september, since raven cost  250 sat (0.01 cents).

now i'm sitting over 20000 ravens and raven cost 650 sat, and can go more up.

minigns its not death

[umine]

Men, i start mining RAVENCOIN in september, since raven cost  250 sat (0.01 cents).

now i'm sitting over 20000 ravens and raven cost 650 sat, and can go more up.

minigns its not death

Good example! Mining became more complicated than a year ago when you could mine anything and got a lot of profit. Now is time of smart mining. Should serious think about what to mine and when it sell.

[xxcsu]

I don't know how you make your calculations but they don't sound right. They can be right only if you have free electricity and by 12 dollars daily as cost you take your initial investment at the price you bought the rigs or mining devices.

Nowadays conditions are not worthy anymore, even at the 0.09 dollars/kilowatt energy cost. My colleagues turned their rigs off because one rig with 6 Rx 580 was making 0.0036 bitcoin weekly and 0.015 almost monthly, that is only about 90-92 dollars, they paid energy for a rig 80 dollars so for just 12 dollars monthly profit was not a good idea to keep the rigs on, not worthy.

This is the big picture in Gpu mining nowadays.

This is my big picture ...well its a 25 days old topic , check my calculation
All my rig are with optimized bios with the right undervolting overclocking ,not with those one click bios modes, with real bios mode , hex editing, optimized for low power usage/highest possible hashrate

Nice! 👍
Did you make those bios? Or buy from guys in here?

Thank You!
I modded all of my cards bios files

[adi1972]

I'm not advocating or promoting u guys to invest a small portion of what u are hodling in smart contracts.
I know most sounds like a Ponzi scheme and u need to really know like anything the risk involve.
But that's what I'm doing while my rig is hibernating. At least I'm still earning eth.

[shater]

Everything - business, sport, culture has its ups and downs. The fact that it's dead right now doesn't mean it will not be profitable in the future. Stay open minded.

[adaseb]

I'm not advocating or promoting u guys to invest a small portion of what u are hodling in smart contracts.
I know most sounds like a Ponzi scheme and u need to really know like anything the risk involve.
But that's what I'm doing while my rig is hibernating. At least I'm still earning eth.

What are you referring to exactly? Are you talking about masternodes?

I didn't think you could earn anything in smart contracts, it actually does sound like some type of scam however since its a smart contract you can always just look at the source code and see where your money will go.

Maybe give more info about this passive income method you are using?

[Mikaelxiong]

Winter is coming... Time to turn on my expensive heaters LOL

[abhiseshakana]

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

Sometime the profitability of mining is not as well as mining calculator assumption. So we need to put an effort into choosing the right coin to get more profits. But it doesn't mean when we hashing the big coin like Eth or Xmr, it can't be worth anymore. Because mining is not only hashrate, difficulty and power consumption at all. 

When we talk about profitability, the decision that we make like how long to hodl the coin and the price target to selling those coin, it will influence the profit that we can reach.

Just like our friend did below. It's a good working, how mining should be run.

Men, i start mining RAVENCOIN in september, since raven cost  250 sat (0.01 cents).

now i'm sitting over 20000 ravens and raven cost 650 sat, and can go more up.

minigns its not death

[solutions4w]

Sorry for my bad english guys, but i want to try to give my point of view about this topic 

I started mining in beginning of 2018, and of course i'm little bit disapoint of actual situation. But, if i look deeper i win every month around 5% of my initial investissement. To win 5% of one investissement (when you are "normal" people like me), you have basically 2 differents ways:

- Bank placement
- Real estate investissement

With bank placement, you will have money blocked (and will not receive % every day/month) and will be part in one system that i don't like it so much 
With real estate you will need big investissement and will have a lot of obligations (rent it, taxes, assurances, long time credit...)

With mining i feel more free and yes it's also one hobby in the same time, because it's fun to make rigs and to setup it, and i have fun to be in forums and try to make it more powerfull.
And finally it's good way for "normal people" like me to have a chance to grow up, i buy one GPU (or another part of rig) each month, and step by step... we will see 

To finish, it can be usefull if somebody makes one Guide about "how to sell altcoins". I tried several differents (Raven, Bytecoin, GoByte, etc...). But was not successfull when i tried to sell it on exchanges. So maybe there are something i don't understand good on this part of business 
Thank you and sorry again for my poor english

[Raja_MBZ]

it can be usefull if somebody makes one Guide about "how to sell altcoins". I tried several differents (Raven, Bytecoin, GoByte, etc...). But was not successfull when i tried to sell it on exchanges. So maybe there are something i don't understand good on this part of business 
Thank you and sorry again for my poor english

I'd recommend you to have a look at the table provided by CoinTelegraph.com on this page:

https://cointelegraph.com/ethereum-for-beginners/how-to-sell-ethereum-guide-for-beginners

BTW, what's your electricity cost (per kWh)?

[solutions4w]

it can be usefull if somebody makes one Guide about "how to sell altcoins". I tried several differents (Raven, Bytecoin, GoByte, etc...). But was not successfull when i tried to sell it on exchanges. So maybe there are something i don't understand good on this part of business 
Thank you and sorry again for my poor english

I'd recommend you to have a look at the table provided by CoinTelegraph.com on this page:

https://cointelegraph.com/ethereum-for-beginners/how-to-sell-ethereum-guide-for-beginners

BTW, what's your electricity cost (per kWh)?

Thank you Raja_MBZ for this link. Yes i actually sell my Monero from mining on Krakken and use bank transfer to compensate electricity cost. I hold a small part in differents coins and cash out when price is not so bad to buy new GPU/rig parts. Is it good or not good strategy?
My electricty cost is 0.09 kWh in the day 0.07 kWh in the night