Topic: Are Mining Still Profit? - page 6. (Read 19150 times)

It is impossible to knock out all the players from this glade, as it seems to me. Already half have sold their mining farms or turned them off. But those who survived will receive a huge profit on the growth of the market which should be very soon.

Your response has nothing in common with my post, though

This is a cycle: when there are more miners, there will be less mines. When there are less miners, there will be more of them.
Halving is probably the only thing that awaits in the future for miners

It seems to me that it is still too early to increase profitability. Not everyone has sold their farms. Need another year of low profit!

Many miners are ready to mine even in the short-term loss in anticipation of a bitcoin halving.
Bitcoin is growing and those who previously shut down their farms restart them. We see the evident in the hashrate growth.
So yes we are still in the game.

Thats not what he said...he said we CAN'T expect profit if bitcoin goes below $3500,
and not that we CAN expect it as you suggest

Why we can expect profits from mining if Bitcoin price is goes down under $3500?
Would you please explain it with some information?
Thanks in advance for your attention.

It is the project that you believe in based on your own research. It is best to focus on mining coins that you have done research on. For either future profit or simply to support the project.  

Since recently the market is stable, so Altcoin mining is profitable.

But if you are wondering what I am mining it would be Historia coin. Here is the link to on how to start mining it. I simply love what the team is trying to build.

How to mine for Historia

And IOTW (HK Bases IoT project), you can download their testnet app and add your devices to mine, very simple, for now I can only mine 12 IOTW everyday, with only one device added, while they will support adding more devices, like AC, TV, PC etc, then it will be a great profit

This really depends on which GPUs you use and the electricity costs in your country... If you already have the mining hardware and your electricity costs are cheap, then you should mine without second thought - https://bitcoinminingsoftware2019.com/bitcoin-mining-hardware-comparison/

A lot of people are still making a decent amount of money from mining.  There are people out there with super cheap electricity in the .01 -.02 range.  I enjoy crypto in general so I would be willing to get paid less to run a mining farm.

Iran

LOL  

You have to do a bit more than "hold and hope" mate , , , you have to fork out £100's for electric too

Mining is profitable if you believe in future price action up, as well if you already have the mining equipment. The price is down, but the mining difficulty is down as well, meaning if you hodl and wait for another Bitcoin high, you may as well profit

Yes every ounce of efficiency counts but unless you got hundreds or thousands of these GPUs you aren't making any decent income regardless.

The days of real income with mining was back when you could make $10/day/GPU. Some were making more mining than with their day jobs.

Right now if you got 2 rigs of RX GPUs with 5 GPUs each you net like 2 quarters a day. Not really worth the hassle.

Well, he was talking about 1070, not 1070 TI

Here where I live, you can buy 3 or 4 RX570s for the price of one 1070TI

So true. I wish people thought the same as you in that regard. The same can be said about buying the coins instead of all the hassle of mining it.

My 1070 ti does 31.5 hash @ 105-110 watt all day. In this bear market every ounce of efficiency counts. Your just 1 watt away from being turned off and liquidated

mm...just a few comments on this.

Team red can be as efficient as Nvidia. Reality is , that when i dedicated a lot of time to configure my setup, i had to make a decision: Did i want to use less electricity resulting on less hashrate or more performance? I went for the performance (and price per Mh) specifically for Team Red and ETH, they were cheaper and offered more hashrate. so i upped the coreclock as much as possible to get the max performance for the least cost of electricity.

All of my RX 580 and 570 cards were running at 1240mhz. The voltage supplied varied a bit between the cards because i personalized every each one according to Asic Quality . Most of them, if not all (i don't remember exactly) could do 1240 on the core for just about 850-887mv. Some can do 2250mhz on the mem. Some less. if you count all the hashrate of my cards, and divide between the amount of them, it gets an average of 31,54mh/s.the total consumption per card was about 135-140W. If i had decided to go lower on the clock, i would have been using less electricity but with a parcial efficiency compared to Nvidia. Why? because ETH algo favours team Red. So even reducing clocks to match hashrate with Nvidia cards, you could get a nearly comparable efficiency in terms of performance-cost. GTX 1070 could do 27mh/s. GTX 1060 could do something between 17-25 at best. Depended on the memory installed. Normally Samsung mem was very good, while hynix was just not good enough. my GTX 1060 destop with hynix could only do 18,7 mh/s on ETH, but my laptop with gtx 1060 samsung mem can do 24,6 which is brutal. +800mhz one, +225mhz the other. There is the difference in hashrate.

a GTX 1060 , for instance, can do 18,6mh/s  at stock clocks using 100W more or less of total power consumption of the card. when "tuning" the card for max mem and lowest power consumption possible, it was possible to be using something around 70-85W for just 22mh/s (depending of how much power consumption you were willing to apply (normally -30%) and how much hashing power you were willing to lose, obviously). So there is no point on using Team Nvidia for ETH. There wasn't a point back in those days, there isn't now. In fact , all well known youtubers related to cryptos, adviced to buy RX 570 and RX 580 just for EThash algo.

For the purpose of this post, i've switched on my test-bench and installed my RX 570 Sapphire RX 570 Nitro+ 8gb 84% ASIC quality (a very very good card). This card could do 1240-2250 using 837mv on the core and nearly 32,2mh/s. Micron memory BTW. The best IMO for RX 580 and 570. All of my cards with micron do 2250 without issues. I can also do 1500mhz on the core - 2250 on the memory and just around 1,18v on the core. Awesome card.

. i've tried 1150-2250 reducing to 800mv and from 1000 to 900 mv on the memory. It's doing 31,4 mh/s and total power consumption reduced to 108W from the wall (platinum PSU). It can be better with Titanium obviously. I will try to go even lower. Sure i can. seen some post of people talking about 90W from the wall doing 30,5mh/s. It's very difficult to go below 90W on Team Red due to bios restrictions, but i will try anyway.

so....yes. If i wanted my cards to do 27mh/s equaling a GTX 1070 hashrate, i can assure you i can get my cards with a brutal effiency in terms of performance, almost equal to GTX 1070 for sure. no doubt i can reduce clocks a lot and reduce the voltage aswell below 120W per card absolutely sure.

see, i will give it a try. My total power consumption from the wall for my 10 left cards in the past was 1510W favouring performance. (my rigs were not bought, just random parts (like a Xeon X5460 130W TDP) so not the best for mining rigs, but anyway,  i may give a try to see if i can push down the power consumption. I will switch on my 6gpu rig which was doing something around 900W from the wall on a Platinum PSU and see if i can go below 800W.

i had seen this video before: https://www.youtube.com/watch?v=JexjjwmTY1g . Just for fun, i will see if i can match hashrate and power consumption. Consider also, that by that time, Q4 2017 Q1 2018, the price of GTX 1070 could go from 379$ to more than 800$ at the worst time. Considering Team red could grant you almost 2 RX570 cards per 1 Nvidia GTX 1070. so take that extra cost in mind.

I invested in more efficient team green 33 gpus with 11x 1080 ti , 3x 1080 and 18x 1070 ti and 1x 1070. All titanium power supply.

According to what to mine I still make $160 extra each month after electric at 8 cents rate. I don't sell what i mine and pay for electric with my day job.

A lot of people invested in cheaper team red and they are not doing so well for efficiency.

I can mine like this for many years but I didn't get into crypto just to race to the bottom and fight for table scraps. I got into  mining so I can buy out the restaurant.

Paying more for efficiency has paid off in the bear market. I don't have to liquidate my gear.

You gota have some vision of you ever want to grow and expand and be able to take  some big blows when the going gets tough.

But you have the right to your viewpoints and your good at being a realist and not a typical moonboy. You should look into shorting the market it would work well with your mindset.

A pro can survive any market up or down. But I'm too much on the hodl side so I need to adjust strategy and get better myself.

nope, absolutely not. i had at least 3 contingency plans on what to do if the situation got worse and worse. mine, was not an unconsious movement. I did it warned that it could go terribly wrong (specially by my father), a high rank employee in one the biggest banks here in Spain with 40 years of experience managing personal investments. I knew it could go wrong, and considered every scenario to be "already taken into account".

i never entered to get rich. My only idea was to invest in crypto to get around 300$ a month after costs. So my expectations on crypto were low.

i don't think is time is a cycle. I trully believe this market has left so many dead corpses aside, that it's going to be a brutally difficult task to continue this ponzi scheme.


 i don't agree that we will get rich in the future. We are never going to see ETH at 1000$ or BTC at 20k. That is the past. Present looks black. Hope i'm mistaken, but , since September 2017, i can count with the fingers of one hand how many times i was mistaken, and i can tell you that there are fingers unused.


BTC and ETH is not profitable mining right now. You are probably mining at a loss if you have Electricity of 0,08 or more. Breaking even at 0,07 more or less, and winning little to mid profit if 0 to 0,06cnt/kW.


You can keep mining ETH even in Casper has been applied. The matter is: do you believe in a bull run? i don't. This market is dying. IMO.