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[vinca BK.]

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[amishmanish]

Of course there are risks. The returns are dependent on the price of the crypto you will mine.

The ROI assumes constant prices. These can go down. On the upside, they can also go parabolic again. Mining is also more about doing it because you'd enjoy putting it all together and managing the requirements. It also gives you something tangible to hold on to with some resale value. (depending on where you live).

You should know though that the prices right now are very inflated due to the demand for mining. Availability can be another issue. If you are in US or Canada, do search for kaboomracks on the forum. (They shud have an ANN somewhere).

[sxemini]

Hello  

Just wondering if there is risks with GPU mining. Buying a $2000 GPU and getting $8 per day ( 144% roi / year ) is very unbelievable, there should be risks.

Wondering why i shouldnt buy 20k usd worth of graphic cards now!!??

Profit can go down, you have no guarantee that you get 8$ a day. But yeah you are the next dude who buy overpriced cards  

Buy eth or btc for this money and sell it at the end of the year. You make more profit and you must do nothing.

[Ceyflix-Rez]

There is not much difference between buying coins to hold for long term and mining coins, the risk here is volatility in value while mining, meaning if you are earning 20$ per day through mining today it can turn 10$ all of a sudden tomorrow

1. Mining difficulty may increase
2. The coin price may decrease

[FloridaKid]

A 300$ GPU have turned to 900$ GPU, as you can see it's dangerous buying GPU right now for mining, the higher the GPU price the longer it's going to take to get your returns of investment back, wait for huge drop in GPU price

[FP91G]

Hello  

Just wondering if there is risks with GPU mining. Buying a $2000 GPU and getting $8 per day ( 144% roi / year ) is very unbelievable, there should be risks.

Wondering why i shouldnt buy 20k usd worth of graphic cards now!!??

You have a calculation error.
You think that your profit will be constant and in a year you will receive 8 * 365 = 2920 dollars.
$ 7 is a profit from the RTX 3080TI video card, but in my country it costs $ 3000.
With such a purchase price, this video card may not be recouped in 3 years. And don't forget about the rest of the mining farm components.

[philipma1957]

Well it could shift as low as 1 usd a card or move to 20 usd a card. Maybe 25 a day.

It is at 7 a card.

power cost is 6-7 kwatts

so 30 cent power is 2.10 a card
and 3 cent power is 21 cents a card.

Obvious if you have 3 cent power your risk is very low and if you have 30 cent power your risk is high.

I can tell you dropping to 1 dollar a day for a 3080 in earnings is possible.

[adaseb]

There are tons of risks with mining.

1) Price of the coin you are mining might go down

2) Difficulty of the coin you are mining might go up

3) Your GPU can suddenly just die (or at least your fans)

4) Your rigs can melt some wires and start a wire and burn down your house

5) The coin you are mining might go POS and you can't mine it anymore

etc...

So its definately not risk free. Safer than trading however your profits aren't gauranteed in anyway.

[mak013]

No any risk, just but GPU and get profit every day!(joke)
Today you mine 1 ETH per day. It costs $2800. You decide to sell it tomorrow and ETH price change and it costs $1000.
Your PSU burst up and burned 5 GPUs. Yesterday you mined 1 ETH, today - 0.1ETH. And no more ETH until you repair it.

Its just 2 examples of risks you will get every day.

[Looper_U]

No any risk, just but GPU and get profit every day!(joke)
Today you mine 1 ETH per day. It costs $2800. You decide to sell it tomorrow and ETH price change and it costs $1000.
Your PSU burst up and burned 5 GPUs. Yesterday you mined 1 ETH, today - 0.1ETH. And no more ETH until you repair it.

Its just 2 examples of risks you will get every day.

PSU can burst up and bring down GPUs with it? I've never seen this happened before and I've been mining for a very long term, maybe it's possible on Chinese OEM PSU I can't say but I use Corsair power supply

[philipma1957]

No any risk, just but GPU and get profit every day!(joke)
Today you mine 1 ETH per day. It costs $2800. You decide to sell it tomorrow and ETH price change and it costs $1000.
Your PSU burst up and burned 5 GPUs. Yesterday you mined 1 ETH, today - 0.1ETH. And no more ETH until you repair it.

Its just 2 examples of risks you will get every day.

Ahh I have had 500 gpus since 2012 and very few died.

most covered via warranty.

[FP91G]

Well it could shift as low as 1 usd a card or move to 20 usd a card. Maybe 25 a day.

It is at 7 a card.

power cost is 6-7 kwatts

so 30 cent power is 2.10 a card
and 3 cent power is 21 cents a card.

Obvious if you have 3 cent power your risk is very low and if you have 30 cent power your risk is high.

I can tell you dropping to 1 dollar a day for a 3080 in earnings is possible.

While Ethereum can be mined on video cards, we are unlikely to see such a profit from RTX 3080. It's great that the London hard fork has been postponed to a later time.
Are you saving up stablecoins to buy good graphics cards when mining isn't very profitable?
In my country, electricity costs 3-4 cents, so I will be updating my graphics cards.
Will you participate in Ethereum POS Mining?

[philipma1957]

Well it could shift as low as 1 usd a card or move to 20 usd a card. Maybe 25 a day.

It is at 7 a card.

power cost is 6-7 kwatts

so 30 cent power is 2.10 a card
and 3 cent power is 21 cents a card.

Obvious if you have 3 cent power your risk is very low and if you have 30 cent power your risk is high.

I can tell you dropping to 1 dollar a day for a 3080 in earnings is possible.

While Ethereum can be mined on video cards, we are unlikely to see such a profit from RTX 3080. It's great that the London hard fork has been postponed to a later time.
Are you saving up stablecoins to buy good graphics cards when mining isn't very profitable?
In my country, electricity costs 3-4 cents, so I will be updating my graphics cards.
Will you participate in Ethereum POS Mining?

Will you participate in Ethereum POS Mining?   I won't stake but if they have hybrid with pos and gpu's I would

[elda34b]

PSU can burst up and bring down GPUs with it? I've never seen this happened before and I've been mining for a very long term, maybe it's possible on Chinese OEM PSU I can't say but I use Corsair power supply

Are you sure Corsair is a good brand for PSU? I've seen a lot of threads on various forum about how their Corsair PSU died and killed various components including the GPU.

I appreciate your reply. But we already know that btc will never drop  and if btc dropped, I'm not the only loser, every one will lose. So Are there any risks other than price dropping?

I appreciate your optimism, but you should be prepared for the bear market just like 2018 where almost everyone went batshit crazy for more than a year or so.

[adaseb]

In my opinion your biggest risk right now is the depreciation of the GPUs if you overpay for them. I’ve mined thru many cycles and it was very hard to lose money because you could always resell the GPUs.

However now it’s different because people are paying over 4 figures for GPUs. Back in my day a GPU costing $300 was considered expensive. I think I didn’t pay much more than $200 for a new GPU. And usually a couple years later they were worth at least half.

[swogerino]

Well it could shift as low as 1 usd a card or move to 20 usd a card. Maybe 25 a day.

It is at 7 a card.

power cost is 6-7 kwatts

so 30 cent power is 2.10 a card
and 3 cent power is 21 cents a card.

Obvious if you have 3 cent power your risk is very low and if you have 30 cent power your risk is high.

I can tell you dropping to 1 dollar a day for a 3080 in earnings is possible.

This is going toward that way.I see everyday for the same hashrate lower rewards in mining Ethereum or any other coin we mine.That means the difficulty is increasing daily and the rewards will come down with the passing of time.Unless the difficulty decrease this will be the situation and the real value is in the power cost.We use 6 cent power cost and it is 0.42 for a card or 2.10 usd daily so for the moment we make 500 or more dollars monthly by mining Ethereum with 280 Mhsh hashrate.

However we have stopped buying new cards because of the rewards going down daily so the risks are real.

[mak013]

No any risk, just but GPU and get profit every day!(joke)
Today you mine 1 ETH per day. It costs $2800. You decide to sell it tomorrow and ETH price change and it costs $1000.
Your PSU burst up and burned 5 GPUs. Yesterday you mined 1 ETH, today - 0.1ETH. And no more ETH until you repair it.

Its just 2 examples of risks you will get every day.

Ahh I have had 500 gpus since 2012 and very few died.

most covered via warranty.

This is just simple example about risks. I have lost just 1 GPU and 6 PSU for all the time.

PSU can burst up and bring down GPUs with it? I've never seen this happened before and I've been mining for a very long term, maybe it's possible on Chinese OEM PSU I can't say but I use Corsair power supply

Yes, it is. My friend lost 3 GPU in such way. 2 GPU were broken by Aerocool, 1 GPU by Corsair. I don`t remember the full situation, but he could not even get warranty payment.

[philipma1957]

right now 3070 gpus are too costly.

they do 60 mh and burn 135 watts at the wall

net is 3.60 - .33 cents = 3.27 a day

So in a year they could net 1200

they cost 1400 on ebay maybe 1300

so after 1 year they are not paid off.

thus they are not great.