Another newb post, if you don't ask you don't get, HI!

ivakar

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Quote from: hd49728 on October 22, 2019, 02:48:56 AM

Mining crypto or not, it depends on so many factors.
How much time do you ready to spend for your rigs ? To config rigs for mining particular coins; to test and discover technical issues, with risers, etc or with software issues; to self-maintain your rigs with small issues to save time and avoid to bring your rigs to stores for customer support services.
Lots of things that will take your time if you run your crypto mining farms, small or big, it will all do take your time.
I think investing directly in Bitcoin or good altcoins (if you want to expand your portfolio outside Bitcoin), is more time-saving and less required-resources.

I experienced with mining, and honestly that is what I thought.

it is true, but still there is a way to make life easier if you have small number of rigs
you may just turn it to nicehash and control once per day

regarding where to invest - rigs or bitcoin
if you have place, my vote for rigs. it is a little bit more solid then bitcoin's price, cause no one can't predict what price bitcoin will be in one year.

hd49728

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Mining crypto or not, it depends on so many factors.
How much time do you ready to spend for your rigs ? To config rigs for mining particular coins; to test and discover technical issues, with risers, etc or with software issues; to self-maintain your rigs with small issues to save time and avoid to bring your rigs to stores for customer support services.
Lots of things that will take your time if you run your crypto mining farms, small or big, it will all do take your time.
I think investing directly in Bitcoin or good altcoins (if you want to expand your portfolio outside Bitcoin), is more time-saving and less required-resources.

I experienced with mining, and honestly that is what I thought.

Wexnident

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Quote from: barnes13 on October 21, 2019, 05:44:51 AM

Yes, you are right too. But in my opinion if he has sufficient funds and can survive until prices really go back up, mining now is not a bad choice as long as he doesn't sell his coins right now. The coins must be collected and hodl until we enter the bullish season again. In this way, the loss he receives in paying for electricity will be replaced at the right time and will get a big profit if he can mine the right coins with a level of difficulty that is still easy.

Mining still aint that recommended. It has a lot of managing costs and isn't that much profitable when your fighting with big companies like the mining companies in China. Besides, holding bitcoin is a lot easier since you already said it. Hodl until we enter the bullish. Its a lot easier to spend the money you would invest on mining to buying bitcoin and hodling. Its a more advantageous when cosidering the cost - to - profit imo.

barnes13

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Quote from: nakamura12 on October 20, 2019, 11:02:49 AM

Mining today and later on won't is not much recommendable since it's almost time for halving to come. Well, you can mine now where halving is not happening yet but it would cost you money to have a mining hardware. It is better to invest in bitcoin rather than buying a miner rig to mime bitcoin.

Yes, you are right too. But in my opinion if he has sufficient funds and can survive until prices really go back up, mining now is not a bad choice as long as he doesn't sell his coins right now. The coins must be collected and hodl until we enter the bullish season again. In this way, the loss he receives in paying for electricity will be replaced at the right time and will get a big profit if he can mine the right coins with a level of difficulty that is still easy.

nakamura12

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Mining today and later on won't is not much recommendable since it's almost time for halving to come. Well, you can mine now where halving is not happening yet but it would cost you money to have a mining hardware. It is better to invest in bitcoin rather than buying a miner rig to mime bitcoin.

barnes13

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To find out more about mining hardware profitability in realtime you can see the info on this website https://www.asicminervalue.com/ there is complete information about the hardware, starting from hashrate, power, profit per day, etc.

And if you plan on mining using GPU, you can calculate your profits using a calculator on this website https://whattomine.com/ There are also calculations using ASIC and profitability mining on several Crypto Coins.

Newb101

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Thanks guys after watching you tube vids of the machines in action I can see the noise issue would drive my neighbours crazy! Might even get me evicted lol
Will hold tight for now and wait till funds allow for a profitable setup Inc a suitable location, aprrciste all the input from all the knowledgeable contributors, Thanks!

creepyjas

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Quote from: Newb101 on October 19, 2019, 07:14:05 PM

So totally new to this so be ready to hear some dumb shit any long story short, I have 3000 euros to invest, is it worth mining crypto, I have a bonus of low electric but still the price fluctuating of crypto, I'm just in two minds
Also whatabout setup for apartment with spare rooms, am aware of noise issues, what would best suited to me a rig of some sort just an s9? (heard cloolerbox works?)
Some pointers and adivice would be appreciated and needed

Things to consider is the electricity bills, noise, humidity, and area temperature. Mining creates a lot of heat which leads to a higher electricity consumption. So, you better pick a good place with cooler temperature. Also mind how much is your electricity bill vs. the projected earn from mining. I’m not an expert to this but if you search and read from mining sub, you’ll get a lot of information.

If I were you, considering I am from a tropical place, I’d better hold BTC or good coins. That’s in my point of view only. *This needs a thorough research tho

cheesetoast

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Quote from: Newb101 on October 19, 2019, 07:14:05 PM

So totally new to this so be ready to hear some dumb shit any long story short, I have 3000 euros to invest, is it worth mining crypto, I have a bonus of low electric but still the price fluctuating of crypto, I'm just in two minds
Also whatabout setup for apartment with spare rooms, am aware of noise issues, what would best suited to me a rig of some sort just an s9? (heard cloolerbox works?)
Some pointers and adivice would be appreciated and needed

I would say no. There are much better ways to spend $3,000. If you want to stay relevant, I would suggest starting a crypto related online business such as a blog as an alternative to Bitcoin mining. It does not cost you much to run, just your time. There are plenty of ways you can monetize it once you get traffic. It is a true a passive source of income as long as it stays online and relevant. You can also be paid in Bitcoin. I've started a site writing about cryptocurrency exchange reviews in my country. In the first 3 months, it has paid all expenses and starting to ramp up. The best thing is, you learn a new skill set for free.

So long story short, the best investments in my opinion are passive online business. You control the return, ultimately.

josephrioveros123

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I think you should just invest your money in a real traditional business because alot of risk here for mining and investing. But i preffer investinh than mining. Because you have the control when it comes to investing. While in the mining you just have to wait until you get something.

mwamhero

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Quote from: Alluro on October 20, 2019, 01:00:21 AM

I think investing and trading is better than mining. Because you have to spend a large amount of money on mining. But don't you need a large amount of money to invest and trade. Because you can start from a small amount of money. The next thing is you have to learn more about fundamental analysis and technical analysis before the start in investing or trading.

I agree about do trading, but investing is difficult to find a good project and you can't predict what happen in future.
Better to learn about Stacking Token, this is great to learn about gain profit. I hear in my friend they try small stacking with $50 then after 1 week he get profit $10.

Alluro

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I think investing and trading is better than mining. Because you have to spend a large amount of money on mining. But don't you need a large amount of money to invest and trade. Because you can start from a small amount of money. The next thing is you have to learn more about fundamental analysis and technical analysis before the start in investing or trading.

figmentofmyass

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Quote from: Newb101 on October 19, 2019, 07:14:05 PM

So totally new to this so be ready to hear some dumb shit any long story short, I have 3000 euros to invest, is it worth mining crypto, I have a bonus of low electric but still the price fluctuating of crypto, I'm just in two minds
Also whatabout setup for apartment with spare rooms, am aware of noise issues, what would best suited to me a rig of some sort just an s9? (heard cloolerbox works?)
Some pointers and adivice would be appreciated and needed

with those capital limits, and considering you're mining from your apartment, i wouldn't mine bitcoin or bother with asics. i'd build myself a GPU rig instead---it's fun, gives you a very wide array of coins to choose from, keeps your equipment more competitive for longer, and when you want to sell the GPUs they are easier to move than asics cuz gamers.

iamaruf

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Quote from: Newb101 on October 19, 2019, 07:14:05 PM

So totally new to this so be ready to hear some dumb shit any long story short, I have 3000 euros to invest, is it worth mining crypto, I have a bonus of low electric but still the price fluctuating of crypto, I'm just in two minds
Also whatabout setup for apartment with spare rooms, am aware of noise issues, what would best suited to me a rig of some sort just an s9? (heard cloolerbox works?)
Some pointers and adivice would be appreciated and needed

It depends on your electricity and which coin you want to mine.yes you can start mining but its really hard to make good ROI. Better to buy top rated coin or start trade it will be more profitable than mining.

ranochigo

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It really boils down to how low your electrical fees are. I would recommend you to try using a calculator to calculate how much you could earn and how long it would take for you to ROI. You have to take into account the halving and the difficulty increment. With so many variables in play, it would be hard for it to be worth your time. If you look around, there are some used ASIC miners in the computer hardware section. If you don't mind, you can try to start getting the equipment from there.

I would recommend holding your coins instead of day trading though. Trading is really not for everyone and it is hard to master it.

Wexnident

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I'd rather lean to holding than mining, to be honest. With the costs of the mining hardware plus the electricity costs and the halving about to come in near 2020, holding seems a lot more advantageous right now. There is also the issue of heat management and a place able to handle the amount of electricity needed, otherwise you might cause an outage when you nonchalantly prepare mining equipment somewhere. There's also the cost for constant management of it meaning constant investment continuously. I you can support the costs, then you may do so but I'd honestly just invest in bitcoin instead.

JeromeTash

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It really depends on the type of coin you want to mine and power costs in your area but to realize good daily profits if you are to make some, you may need more than just one mining rig which means 3000 Euros would not be enough.

If i was in your shoes, I think i would just teach myself how to trade one day at a time starting with small amount. 3000 Euros is good for making some daily profits if you know how to trade you can even make more than 100 Euro per day.

Steamtyme

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Here is a thread I created to help people new to mining. Gives you some things to think about before taking the plunge. If you are considering BTC another consideration is the halving expected this coming March?? maybe May I should really look into that. It really applies to any crypto. You can also check those boards out for more BTC mining info, otherwise you can look around in Altcoin mining for questions about other coins.
First time/Small miner reference for getting started.

The decision always comes down to what you think will be best at the moment, personally I lean a little more towards buying and holding right now. Unless you have extremely low cost electricity and can source older less efficient gear for a real good price. The noise and heat can be a lot to deal with especially in an apartment setting. I heat my home in the winter but that is in my basement, and at times can still be loud if I don't take the proper steps to dampen sound.

Rmcdermott927

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Quote from: Newb101 on October 19, 2019, 07:14:05 PM

So totally new to this so be ready to hear some dumb shit any long story short, I have 3000 euros to invest, is it worth mining crypto, I have a bonus of low electric but still the price fluctuating of crypto, I'm just in two minds
Also whatabout setup for apartment with spare rooms, am aware of noise issues, what would best suited to me a rig of some sort just an s9? (heard cloolerbox works?)
Some pointers and adivice would be appreciated and needed

The answer to "does it pay to mine crypto?" will always boil down to "what do you pay per kwh of electricity?". Check your power bill and let me know.

notblox1

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Quote from: Newb101 on October 19, 2019, 07:14:05 PM

So totally new to this so be ready to hear some dumb shit any long story short, I have 3000 euros to invest, is it worth mining crypto, I have a bonus of low electric but still the price fluctuating of crypto, I'm just in two minds
Also whatabout setup for apartment with spare rooms, am aware of noise issues, what would best suited to me a rig of some sort just an s9? (heard cloolerbox works?)
Some pointers and adivice would be appreciated and needed

I think you would be much better if you simply buy Bitcoin instead of dealing with mining.
Bitcoin halving is coming in around 200 days where reward will be lowered.

In any case you should avoid any cloud mining,
and if you want to buy miner and need more advice you can ask in mining section

Topic: Another newb post, if you don't ask you don't get, HI! (Read 285 times)