Stupid Mining Question

[Christine.Holland]

Hi guys,
I would like to start mining, but I have never mined before. I am thinking of selling some altcoins and buying cards or whatever is needed for mining. But how to pick the best coin? What is the most profitable one that you would suggest? Also, in my country is hard to find good graphic cards right now, and I wouldnt buy used cards. Can I mine good coins without cards, using something else?

[fmz89]

Hi guys,
I would like to start mining, but I have never mined before. I am thinking of selling some altcoins and buying cards or whatever is needed for mining. But how to pick the best coin? What is the most profitable one that you would suggest? Also, in my country is hard to find good graphic cards right now, and I wouldnt buy used cards. Can I mine good coins without cards, using something else?

Yes you can mine chia with ssd and standar cpu,
Mining raptoreum with cpu quite profitable at very moment or mining monero using threadripper which is to expensive, or buying gaming laptop is doable and more sense based on price condition

[hosseinimr93]

I haven't ever mined any altcoin and I don't have much information about it. But I think whattomine can be helpful to you. You can use it to calculate profitability of mining different cryptocurrencies.

Can I mine good coins without cards, using something else?

You should either have a high-performance GPU (Graphics processing unit) or buy an ASIC miner.

[FP91G]

Honestly, now is a very bad time to start mining. A lot of video cards are mining Ethereum. When Ethereum mining ends, the profit on other coins will greatly decrease, because the hash rate will increase due to the huge influx of video cards.
Don't buy graphics cards now, wait for Ethereum mining to finish.

[Bitcoin_Arena]

Ethereum is the most profitable at the moment but there is a scarcity of graphics cards due to demand. This means you are going to buy them more expensively than the usual price and it could be worse in your country since you say it's hard to get them there.

If you decided to buy the cards right now. You will be taking a huge risk. If it was over a year ago, it would have been a good decision.

[Metroid]

I believe eth 2.0 will only come in 2024 or 2025, so you may think is all right to buy gpus now then, no it's not, mining profit will crash very hard in few weeks so better to invest only 20% in gpus if you really want to mine, treat mining like you treat your investments, only a portion of your money, never go all in. I'm not saying not to mine, I'm saying to be reasonable, gpu prices still are exorbitant, losing 20% of your money is all right. It's a gamble anyway, like most things in life.

[Boov]

Hi guys,
I would like to start mining, but I have never mined before. I am thinking of selling some altcoins and buying cards or whatever is needed for mining. But how to pick the best coin? What is the most profitable one that you would suggest? Also, in my country is hard to find good graphic cards right now, and I wouldnt buy used cards. Can I mine good coins without cards, using something else?

I've had mining right now but not using a cards same with what you're saying, and I guess that's expensive compared to mining softwares like on mobile phones. Recently I've installed mining platform like PI network that promises good returns to every user and you can create you own network as circle of users would actually earn from every referrals that took huge earning when increased numbers of your team. Hopefully you'll check this kind of app and it's available to be downloaded at playstore for free.

[adaseb]

You can either mine with GPUs or with ASICS. Right now it’s difficult finding either at a bargain. And buying new you need to pay above MSRP.

ASICS mine coins like BTC, LTC, Doge, etc. They are a box looking machine, very loud but very stable. GPUs are what gamers use but you got like 5-10 in each rig.

My advice just hold on to your alts or invest in other assets. Mining is tough to start right now.

[FP91G]

I believe eth 2.0 will only come in 2024 or 2025, so you may think is all right to buy gpus now then, no it's not, mining profit will crash very hard in few weeks so better to invest only 20% in gpus if you really want to mine, treat mining like you treat your investments, only a portion of your money, never go all in. I'm not saying not to mine, I'm saying to be reasonable, gpu prices still are exorbitant, losing 20% of your money is all right. It's a gamble anyway, like most things in life.

Where did you get this information? If this were the case, then I would invest a lot of money to buy video cards.
The developers tell us about the December testnet without miners.
If you think that Ethereum mining will be relevant for another 3-4 years, then why only 20%?

[Metroid]

Where did you get this information? If this were the case, then I would invest a lot of money to buy video cards.
The developers tell us about the December testnet without miners.
If you think that Ethereum mining will be relevant for another 3-4 years, then why only 20%?

ETH devs said the same thing in 2017, pos would be out in few months, to this date it has not, dont believe what they say, they are together with the manipulators, they have been heavily manipulating eth and other coins price too, all part of a mafia.

Anyway, the issue is not eth going pos, like I said, that will take time, the issue is powerful eth asics miners that are coming very soon. So invest in mining right now seems not bad but as soon the market crash and those asics hit the network, bye bye gpu eth mining. The most powerful public eth asic right now is that Bitmain Antminer E9 (3gh/s) using only 2300 watts. Nothing cant compete with that and will be thousands of them very soon. If eth devs had moved from ethash to progpow or something alike then things would have been very different right now. It would definitely be a good idea to invest in mining without worrying about anything, right now invest in mining is suicide, 20% to gamble is not bad.

Also as soon as eth asics hit the network and eth price crashes to hehell, gpu miners will have to move to other coins and will be no coins to move to, most will have to sell their gpus at loss and very cheap, will be a huge influx of gpus in the market. It will be the inverse of what we see at the moment. You trolls have been warned. All cryptocoins are overbought, people want profit and most are in no profit at moment and soon the distribution phase will happen, there is a limit those people will hold cryptocoins, they know this market is too volatile, stocks are kids play compared to crypto market, anyway, in this crypto market, you can become a millionaire or a peasant overnight.

Most of the altcoins I have at the moment lost 70% from peak already and no signs of any going up again or a reversal. If this keeps going up soon will be 99.99999999999% loss from top ehhe just like 2018, dangerous gamble, I created an eth sell order at 4.89k and almost hit it, got to 4.8k, bad luck I guess.

[swogerino]

Eth ASICS have been around us for quite some time now and they are a large part of the ETH network making difficulty going to over 11 P from near 9 P that it was just a couple of months ago.Still Ethereum for a near 300 Mhsh rig I used to make 0.0075-0.008 daily in February 2021 when I started and for the same amount now it makes 0.0045-0.00495 daily.If the price of ETH were to have stayed the same I would be in big loss however I am in big profit because of ETH going from 1500 USD when I started to near 4700 USD so I was lucky.Based on this I am not afraid of ASICS as anyone will get his piece of pie,sure it may be a lot lower but what can guarantee us that ETH price will not be 20.000 USD and we all still be in profit.

[FP91G]

If ASICs were actively sold, then the network hashrate would quickly increase.
But miners are afraid to buy ASICs when Ethereum mining ends, because they will not have a profit on other coins. Buying ASICs is now a very big risk. The hashrate has so far stopped at 840-860 Terahesh

[Gorosden]

Hi guys,
I would like to start mining, but I have never mined before. I am thinking of selling some altcoins and buying cards or whatever is needed for mining. But how to pick the best coin? What is the most profitable one that you would suggest? Also, in my country is hard to find good graphic cards right now, and I wouldnt buy used cards. Can I mine good coins without cards, using something else?

I'd rather buy graphic cards instead of Asic or SSD for mining chia, if you are thinking of saving energy on the long run it won't matter, also GPU brings more profits than SSD, we both know how costly terabytes of HDD and SSD costs, buy GPU and start mining Ethereum

[FP91G]

SSD drives are not used for chia mining.
They are used to create plots on standard hard disk drives.
But now the payback period for hard disk drives and video cards is long. Video cards will be relevant when Ethereum can be mined, and Chia promises to be a relevant coin for many years.