Are Mining Still Profit?

[androstan1234]

I've probably made more money flipping gpus than I ever have mining. Both have been good to me, though.

[smoolae]

You can still make some easy profit when you live in an area where electricity is cheap or even free. The profits are not as high as they used to be but mining is still a nice way to get some extra income. Also, when you live in a place where it really gets cold during autumn and winter time, the extra heat from ASICs and GPU rigs is welcome as well.

I sold my GPUs in the beginning of April, profits shrunk to the level where I considered the extra heat and noise to be not worth it.

[Ciscopro2000]

I have pretty much turned my gpu mining rig off.  I have 1080 ti, 1080, 1070 ti, etc.  Not much profit with prices down. 

[adaseb]

I've probably made more money flipping gpus than I ever have mining. Both have been good to me, though.

The best time to sell GPUs is usually when they are sold out everywhere and you can demand a premium on them. However that usually means you are better off mining with them instead, so why sell?

Right now, its very difficult. Basically being offered $50 USD for a used RX 470/570 and every buying keeps asking "Did you mine with these GPUs?" Very tough market out there right now with second hand GPUs.

A RX 470 was cheap originally and so getting $75-100 USD doesn't seem like a bad deal, especially since it ROI'd a while back. However I feel bad for the people who are trying to unload a bunch of 1080Ti which never ROI'd.

[Marvell2]

I've probably made more money flipping gpus than I ever have mining. Both have been good to me, though.

The best time to sell GPUs is usually when they are sold out everywhere and you can demand a premium on them. However that usually means you are better off mining with them instead, so why sell?

Right now, its very difficult. Basically being offered $50 USD for a used RX 470/570 and every buying keeps asking "Did you mine with these GPUs?" Very tough market out there right now with second hand GPUs.

A RX 470 was cheap originally and so getting $75-100 USD doesn't seem like a bad deal, especially since it ROI'd a while back. However I feel bad for the people who are trying to unload a bunch of 1080Ti which never ROI'd.

If you made the money you paid for a gpu back $50 for a $150 gpu isn’t bad but most ppl paid high prices forcthose cards back in dec jan march, selling for $50 is crazy

[Alucard2425]

I think if your electricity is cheap you can still earn a decent amount, before  i work in Saudi Arabia and they have really cheap electricity so decided to build a mining rig 2 gpu rx 580 and got some good profit from it. But if your location has high price on electricity i wont recommend it. You can check your profit on online calculation for hash and electricity that you use and see if will get profit

[Z1pp4]

I did not shut my farm down only because i am heating all the building with that generated heat. In other case it would be stupid to mine only on hope that one day cryptocurrencies will rise again. I can understand that when you do that with $2k worth of equipment, but when you mine with $100k, you also thinking that you wearing your equipment for no ROI. So in this case it is better just to shut the farm down and wait for better times to come.

[netto7]

profit? i do not want profit... i want coins! coins! you get it? gimme more COINS!..keep em coming haha 


profit will have its day 

yeah we only want coin for coming day when crypto maket pump.

but not everyone can cover electricity bill.

[Z1pp4]

profit? i do not want profit... i want coins! coins! you get it? gimme more COINS!..keep em coming haha 


profit will have its day 

yeah we only want coin for coming day when crypto maket pump.

but not everyone can cover electricity bill.

It depends on the bill. I have payed €17k for electricity since February till now, so mining for HODL costs a lot

[arielbit]

profit? i do not want profit... i want coins! coins! you get it? gimme more COINS!..keep em coming haha 


profit will have its day 

yeah we only want coin for coming day when crypto maket pump.

but not everyone can cover electricity bill.

install a lightning rod...works wonders 

[DrG]

I did not shut my farm down only because i am heating all the building with that generated heat. In other case it would be stupid to mine only on hope that one day cryptocurrencies will rise again. I can understand that when you do that with $2k worth of equipment, but when you mine with $100k, you also thinking that you wearing your equipment for no ROI. So in this case it is better just to shut the farm down and wait for better times to come.

As noted this is not such an issue for people with 1 or 2 cards who were casual mining. People who took out $10k or $100k loans really have to consider the adverse effects of waiting. If the next coin boom doesn't occur for 2-3 years then good luck trying to unload 3GB or 4GB cards when 16GB cards (possibly on 7nm) become necessary for 4k/8k displays. Even if the cards aren't mining they typically go down in value.

Personally I dump my cards as soon as I can or when a new efficient node is being released. December 2017 gave some pretty clear signs it was a good time to exit mining.

Those veteran Radeon 4870s that were first mining BTC back in 2010/2011 never returned to see mining again.

1080Tis should be safe, but I don't think RX 470s and 3GB 1060s should be held.

[BillieCrypt]

Due to the big fall in the price of cryptocurrencies, mining is now profitable only with electricity prices below 5-6 cents, and also subject to the use of heat from equipment for heating.

[swogerino]

I did not shut my farm down only because i am heating all the building with that generated heat. In other case it would be stupid to mine only on hope that one day cryptocurrencies will rise again. I can understand that when you do that with $2k worth of equipment, but when you mine with $100k, you also thinking that you wearing your equipment for no ROI. So in this case it is better just to shut the farm down and wait for better times to come.

As noted this is not such an issue for people with 1 or 2 cards who were casual mining. People who took out $10k or $100k loans really have to consider the adverse effects of waiting. If the next coin boom doesn't occur for 2-3 years then good luck trying to unload 3GB or 4GB cards when 16GB cards (possibly on 7nm) become necessary for 4k/8k displays. Even if the cards aren't mining they typically go down in value.

Personally I dump my cards as soon as I can or when a new efficient node is being released. December 2017 gave some pretty clear signs it was a good time to exit mining.

Those veteran Radeon 4870s that were first mining BTC back in 2010/2011 never returned to see mining again.

1080Tis should be safe, but I don't think RX 470s and 3GB 1060s should be held.

I have a rig with 6 Gtx 1060 3GB and they are doing very good in Winminer, this software lately has won my heart because they add a lot of algorithm and my 1060 is not worthless anymore as it was mining Zcash, or mining X16 which was drawing more power and making less profit. Now it mines AKA most of the times and it gives me about 40% more daily income in Btc than it used to do when mining other algorithms. So 1060 3GB can be kept as a software like Winminer puts them to good use still.

[Za1n]

Profit? Yeah I am sure miners are still earning profits for the electric companies!

[netto7]

profit? i do not want profit... i want coins! coins! you get it? gimme more COINS!..keep em coming haha 


profit will have its day 

yeah we only want coin for coming day when crypto maket pump.

but not everyone can cover electricity bill.

It depends on the bill. I have payed €17k for electricity since February till now, so mining for HODL costs a lot

you are right It depends on the bill.  if you can pay bill it can profit in next year.

but if you can't pay bill it hard to find some coin have profit in this time.

[VasilyS]

Mining is really profitable now only for heating. If prices of crypto will be at this level few months else, I think that hashrate of the majority of coins will be halved.

[starlilyth]

There are two kinds of miners: Treasure Hunters, and True Believers.

This question "Is mining still profitable?" is what Treasure Hunters ask. In fact, the vast majority of miners get started because they are treasure hunting. Seeking reward through work is not a bad thing, but treasure hunting assumes you will do a LOT of work for a possibly giant payoff, but probably for nothing at all. Everyone wants to believe they are a winner though..

True Believers understand that the goal of mining is not profit or reward: those are tokens of appreciation for providing a service to the network. Mining is what makes any mineable crypto currency operate; it is how every transaction is validated, every block found is verified. Mining is the heartbeat of crypto, and without it most coin systems will fail.

So ask yourself: why do you want to mine? Are you seeking treasure, or do you believe in the network you are supporting, and in the future of crypto? Then you can properly decide if you should be mining in a down market.

Lily

[Oakey22]

There are still many legitimate mining pools out there, but I will advise that we perform due research before venturing into anyone at all. I have been introduced to the Whalesburg smart mining pool and it's okay, profitable and transparent. In fact, it's community is growing very fast. You can as well check it out to know more about it.

Today you have done nothing but spam that mining pool. #reported

[romelitounknown]

I have read all of the comments here and you all got the point. You know guys with the market down like these days there are still chances of earning thru mining.Think of holding your mined coins until it's price increases. Or try to lower your electricity cost down to 0.02$-0.05$/kwh.

[modmalaney]

mining is still a lucrative thing to get results on crypto. Whalesburg became a mining platform that became an option in an era of technology the better. with increasingly sophisticated algorithms and also have good transparency in payments of course in mining became a more profitable thing.