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Topic: 21 cents per kw, Any way to mine? - page 2. (Read 10462 times)

legendary
Activity: 1456
Merit: 1000
April 03, 2016, 01:13:49 AM
#92
Even with S7, he would lose money at 21 cent/kWh. He could have made some money by mining Ethereum.

But add up cost of 6 GPU rig with nice GPU's.... it's pricey.  Do you believe enough in a in a alt this much?   Could be a 2 grand guess depending on cards.   I personally sold most of my GPU's long ago and worked out well.  I am hesitant to spend big and build nice rigs on a alt currently.  Compare to S7 coupon price, its a much higher investment.

And really you should not be mining anything at 21 cents.  This thread is all about that your killing your ROI by mining with such high electricity price.
legendary
Activity: 1624
Merit: 1129
Bitcoin FTW!
April 02, 2016, 03:32:05 PM
#91
Even with S7, he would lose money at 21 cent/kWh. He could have made some money by mining Ethereum.
Ether mining is unprofitable at 21c/kwh, i believe. even at this high price, ethereum is still not the way to go. the only way to mine is at a loss or with solar panels, which will probably be unprofitable in the end.  Even with panels it's likely you'll only be able to support a small rig. I suggest buying bitcoins and holding for profit, it's basically the only way for profit with high electricity.
sr. member
Activity: 308
Merit: 250
April 02, 2016, 03:29:50 PM
#90
Even with S7, he would lose money at 21 cent/kWh. He could have made some money by mining Ethereum.
legendary
Activity: 1526
Merit: 1001
March 28, 2016, 05:06:39 PM
#89
In my country, the electricity costs cheaper when it is the summer season so at that time the profit is higher comparing to winter season which the price is double but 21 cents is much higher than in my country but i think you should have the latest mining rigs to get most of it.
sr. member
Activity: 252
Merit: 250
March 28, 2016, 04:10:32 PM
#88
Iv been looking at mining for a while now but as you can see i pay quite high electricity fees. Ive done mining in the past with gpu but have always wanted to start btc mining. Is this even possible with such high electricity costs? Im even open to mining ltc and then converting to btc but maybe id just be as well buying any btc with flat?

Why don't you look for a cheaper source of electricity like solar panels for instance. Mining consumes lots of electricity as you know.
legendary
Activity: 3108
Merit: 1290
Leading Crypto Sports Betting & Casino Platform
March 28, 2016, 03:28:03 AM
#87
Right now it's hard to earn profit if you pay less then 10 cents.
Home mining is dead and the next step to centralization has already started.
It's just a matter of months before the game is over.

Home miner is getting harder and harder.  I consider myself a hobby miner slightly bigger then home with my mining area.   I had to get rid of last gen gear just as profit was to small, made far more selling them.

Will be intersting on what next gen gear costs, what difficulty does.  So many variables and not a lot of answers.
A cheap way to earn temporary profit is to setup a trickling solar panel to a battery, and running a low power useage asic until power is gone, stopping asic, trickling again, etc.
You'll be negative for a while due to initial investment, and if at all you ROI, last gen gear will take you over a year to roi. Raspberry pi controllers aren't feasible with solar due to them dying when power is lost, so that cuts a lot of usbs out (which basically kills profit except for a few mining, "standalones". A BFL is great since their easyminer can be used on android). As you can see my method is useless because of the complications, so I now really think 21 cent kw IS TRULY IMPOSSIBLE.

21 cent per kWh is not suitable for mining Bitcoin. But for the time being, it is OK to mine Ethereum.
legendary
Activity: 1624
Merit: 1129
Bitcoin FTW!
March 06, 2016, 11:19:20 AM
#86
Right now it's hard to earn profit if you pay less then 10 cents.
Home mining is dead and the next step to centralization has already started.
It's just a matter of months before the game is over.

Home miner is getting harder and harder.  I consider myself a hobby miner slightly bigger then home with my mining area.   I had to get rid of last gen gear just as profit was to small, made far more selling them.

Will be intersting on what next gen gear costs, what difficulty does.  So many variables and not a lot of answers.
A cheap way to earn temporary profit is to setup a trickling solar panel to a battery, and running a low power useage asic until power is gone, stopping asic, trickling again, etc.
You'll be negative for a while due to initial investment, and if at all you ROI, last gen gear will take you over a year to roi. Raspberry pi controllers aren't feasible with solar due to them dying when power is lost, so that cuts a lot of usbs out (which basically kills profit except for a few mining, "standalones". A BFL is great since their easyminer can be used on android). As you can see my method is useless because of the complications, so I now really think 21 cent kw IS TRULY IMPOSSIBLE.

This will not work for most.  Phil is a great example of it working and he teamed up with a expert in solar.   For most of us solar will cost more then cheap electricity.  Cheap electricity makes more sense for most.

And I don't think I have ever heard anyone mention BFL and great in same sentence before.
I just like BFL for their easyminer app. I'm too lazy to use a usb to otg and actually compile cgminer and install crap. Truly BFL sucks and unless you're super desperate, don't buy it. The portability was the only reason, and I just like their heatsink for the jalapeno. I don't know many miners that can run on an android phone, so I just give them a +1 for usefullness (overseas much) and +1 for ingenuity, and -9000 for overpriced-ness and unreliability, and that doesnt include the late shipping.
legendary
Activity: 1456
Merit: 1000
March 06, 2016, 10:38:07 AM
#85
Right now it's hard to earn profit if you pay less then 10 cents.
Home mining is dead and the next step to centralization has already started.
It's just a matter of months before the game is over.

Home miner is getting harder and harder.  I consider myself a hobby miner slightly bigger then home with my mining area.   I had to get rid of last gen gear just as profit was to small, made far more selling them.

Will be intersting on what next gen gear costs, what difficulty does.  So many variables and not a lot of answers.
A cheap way to earn temporary profit is to setup a trickling solar panel to a battery, and running a low power useage asic until power is gone, stopping asic, trickling again, etc.
You'll be negative for a while due to initial investment, and if at all you ROI, last gen gear will take you over a year to roi. Raspberry pi controllers aren't feasible with solar due to them dying when power is lost, so that cuts a lot of usbs out (which basically kills profit except for a few mining, "standalones". A BFL is great since their easyminer can be used on android). As you can see my method is useless because of the complications, so I now really think 21 cent kw IS TRULY IMPOSSIBLE.

This will not work for most.  Phil is a great example of it working and he teamed up with a expert in solar.   For most of us solar will cost more then cheap electricity.  Cheap electricity makes more sense for most.

And I don't think I have ever heard anyone mention BFL and great in same sentence before.
legendary
Activity: 1624
Merit: 1129
Bitcoin FTW!
March 05, 2016, 08:04:10 PM
#84
Right now it's hard to earn profit if you pay less then 10 cents.
Home mining is dead and the next step to centralization has already started.
It's just a matter of months before the game is over.

Home miner is getting harder and harder.  I consider myself a hobby miner slightly bigger then home with my mining area.   I had to get rid of last gen gear just as profit was to small, made far more selling them.

Will be intersting on what next gen gear costs, what difficulty does.  So many variables and not a lot of answers.
A cheap way to earn temporary profit is to setup a trickling solar panel to a battery, and running a low power useage asic until power is gone, stopping asic, trickling again, etc.
You'll be negative for a while due to initial investment, and if at all you ROI, last gen gear will take you over a year to roi. Raspberry pi controllers aren't feasible with solar due to them dying when power is lost, so that cuts a lot of usbs out (which basically kills profit except for a few mining, "standalones". A BFL is great since their easyminer can be used on android). As you can see my method is useless because of the complications, so I now really think 21 cent kw IS TRULY IMPOSSIBLE.
legendary
Activity: 1456
Merit: 1000
March 05, 2016, 04:53:38 PM
#83
Right now it's hard to earn profit if you pay less then 10 cents.
Home mining is dead and the next step to centralization has already started.
It's just a matter of months before the game is over.

Home miner is getting harder and harder.  I consider myself a hobby miner slightly bigger then home with my mining area.   I had to get rid of last gen gear just as profit was to small, made far more selling them.

Will be intersting on what next gen gear costs, what difficulty does.  So many variables and not a lot of answers.
hero member
Activity: 770
Merit: 500
Forza Roma
March 05, 2016, 04:20:42 PM
#82
Right now it's hard to earn profit if you pay less then 10 cents.
Home mining is dead and the next step to centralization has already started.
It's just a matter of months before the game is over.
legendary
Activity: 1456
Merit: 1000
March 04, 2016, 06:03:28 PM
#81
The only profitable coin to mine at present is the Ethereum. But it is with GPU not any ASIC. If the price drops, it will not be profitable.

it dropped already i assume it's not proftibale anymore, since even without the drop the diff started to increase fast now with the drop it's done

The price of Ethereum is still high, around $5-6. So it is still profitable. If it drops to $3, it will not be profitable.

That is great... but long term GPU mining is still not alive with electricity price, and GPU prices.  Will you ROI on your GPU's?

Unless there is a chance of ROI I don't consider it profitable mining.  Just mining more then electricity.... is not enough for me.

If you can earn 20% profit each year as a business, you will be very happy. The problem with mining is that it is not sustainable.

This is not a regular business in mining terms 1 year is a LONG time.   Gear can change a lot within a single year, so I would argue a sucessful buisness needs to pull profit quicker, or sell machines off and get roi quicker.

Selling machines has helped by bottom line.  I have normal electricity price nothing secial.  So I mine as long as I can being profitable, keeping a eye on prices of gear on secondary markets.  I recently sold all last gen gear.... I invested in coins.  And eventually it will go back into machines.
hero member
Activity: 966
Merit: 506
March 04, 2016, 05:51:02 AM
#80
The only profitable coin to mine at present is the Ethereum. But it is with GPU not any ASIC. If the price drops, it will not be profitable.

it dropped already i assume it's not proftibale anymore, since even without the drop the diff started to increase fast now with the drop it's done

The price of Ethereum is still high, around $5-6. So it is still profitable. If it drops to $3, it will not be profitable.

That is great... but long term GPU mining is still not alive with electricity price, and GPU prices.  Will you ROI on your GPU's?

Unless there is a chance of ROI I don't consider it profitable mining.  Just mining more then electricity.... is not enough for me.

If you can earn 20% profit each year as a business, you will be very happy. The problem with mining is that it is not sustainable.
legendary
Activity: 3206
Merit: 1069
March 01, 2016, 03:25:15 AM
#79
The only profitable coin to mine at present is the Ethereum. But it is with GPU not any ASIC. If the price drops, it will not be profitable.

it dropped already i assume it's not proftibale anymore, since even without the drop the diff started to increase fast now with the drop it's done

The price of Ethereum is still high, around $5-6. So it is still profitable. If it drops to $3, it will not be profitable.

well it depend on electricity, but you're right seems to be still profitable with a small margin, with my electricity the profit would be something like 50 euro per card each month, at best probably less due to fee, invalid random block etcc...
legendary
Activity: 1456
Merit: 1000
February 29, 2016, 12:41:33 PM
#78
The only profitable coin to mine at present is the Ethereum. But it is with GPU not any ASIC. If the price drops, it will not be profitable.

it dropped already i assume it's not proftibale anymore, since even without the drop the diff started to increase fast now with the drop it's done

The price of Ethereum is still high, around $5-6. So it is still profitable. If it drops to $3, it will not be profitable.

That is great... but long term GPU mining is still not alive with electricity price, and GPU prices.  Will you ROI on your GPU's?

Unless there is a chance of ROI I don't consider it profitable mining.  Just mining more then electricity.... is not enough for me.
legendary
Activity: 3108
Merit: 1290
Leading Crypto Sports Betting & Casino Platform
February 29, 2016, 09:09:48 AM
#77
The only profitable coin to mine at present is the Ethereum. But it is with GPU not any ASIC. If the price drops, it will not be profitable.

it dropped already i assume it's not proftibale anymore, since even without the drop the diff started to increase fast now with the drop it's done

The price of Ethereum is still high, around $5-6. So it is still profitable. If it drops to $3, it will not be profitable.
legendary
Activity: 3206
Merit: 1069
February 22, 2016, 03:27:00 AM
#76
The only profitable coin to mine at present is the Ethereum. But it is with GPU not any ASIC. If the price drops, it will not be profitable.

it dropped already i assume it's not proftibale anymore, since even without the drop the diff started to increase fast now with the drop it's done
hero member
Activity: 966
Merit: 506
February 21, 2016, 06:07:36 PM
#75
The only profitable coin to mine at present is the Ethereum. But it is with GPU not any ASIC. If the price drops, it will not be profitable.

Yes. It is still possible to mine Ethereum even with $0.21/kWh power price. But it might not be in the future as the difficulty is rising fast.
legendary
Activity: 3108
Merit: 1290
Leading Crypto Sports Betting & Casino Platform
February 16, 2016, 06:13:31 AM
#74
The only profitable coin to mine at present is the Ethereum. But it is with GPU not any ASIC. If the price drops, it will not be profitable.
legendary
Activity: 1456
Merit: 1000
February 07, 2016, 06:06:54 PM
#73
Right now i would not by any miner. Just wait for the next generation of miners.
The current batch is way overpriced and you will make a big loss on it.


It all depends on electricity price I would say.  Electricity price can make or break you.  I'm doing some moving around with miners doe to this.  But this 21 cent thread ... 21 cent day's are gone with current products.

So there are still people out there that are able to mine, just takes lower cotst.  And hopefully a little more value on btc would be nice for miners.

Well even if you got free electricity, remember you have to buy the PSU too.
Which makes every miner today unprofitable.


Not true PSU's are actually pretty good assuming you don't buy crap.   I have multiple PSU's that I have used multiple generations of miners.  When I sell miners I keep the PSU's so I have mine paid off for most part, I will buy one if needed.

But PSU's you could even sell after to.   It will not be the difference between ROI and not ROI I don't think on most miners.
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