Topic: Before you get HEAVILY invested in ETH Mining you should read this (Read 34669 times)

Quote from: Ziskinberg on May 22, 2016, 05:48:22 AM

Quote from: frostminer on May 23, 2016, 09:26:06 AM

The earlier you came in the better it is for mining while the difficulty is still low but it'll get to the point where mining ETH will only for big farms with low electricity cost.

Is there any cloud mining for the ETH so if anyone who cannot afford to buy mining equipment, we can have an option to just put our investment online?

You can do cloud mining with Genesis Mining. https://www.genesis-mining.com/our-offer.

the price is not cheap.

The price is $3700 per 100 MH/s. With $3700, you can buy 12 R9 390 and build two rigs with 350 MH/s.

I have not seen any cloud or rent-solution that is profitable so far.
All the ones i've seen has simply been "throwing some money on something to get even fewer in return".

If nicehash started ETH.. that would change it.

You can mine Eth at Nicehash, but that is not a rent market. It is a conventional pool provided by it.

I know, i was ofcourse talking about renting hash like the other algos.

RoseMann

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Quote from: RoseMann on May 23, 2016, 09:16:29 AM

Quote from: Ziskinberg on May 22, 2016, 05:48:22 AM

Quote from: RoseMann on May 23, 2016, 09:16:29 AM

The earlier you came in the better it is for mining while the difficulty is still low but it'll get to the point where mining ETH will only for big farms with low electricity cost.

Is there any cloud mining for the ETH so if anyone who cannot afford to buy mining equipment, we can have an option to just put our investment online?

You can do cloud mining with Genesis Mining. https://www.genesis-mining.com/our-offer.

the price is not cheap.

The price is $3700 per 100 MH/s. With $3700, you can buy 12 R9 390 and build two rigs with 350 MH/s.

I have not seen any cloud or rent-solution that is profitable so far.
All the ones i've seen has simply been "throwing some money on something to get even fewer in return".

If nicehash started ETH.. that would change it.

You can mine Eth at Nicehash, but that is not a rent market. It is a conventional pool provided by it.

frostminer

hero member

Activity: 742

Merit: 505

Quote from: Ziskinberg on May 22, 2016, 05:48:22 AM

The earlier you came in the better it is for mining while the difficulty is still low but it'll get to the point where mining ETH will only for big farms with low electricity cost.

Is there any cloud mining for the ETH so if anyone who cannot afford to buy mining equipment, we can have an option to just put our investment online?

You can do cloud mining with Genesis Mining. https://www.genesis-mining.com/our-offer.

the price is not cheap.

The price is $3700 per 100 MH/s. With $3700, you can buy 12 R9 390 and build two rigs with 350 MH/s.

I have not seen any cloud or rent-solution that is profitable so far.
All the ones i've seen has simply been "throwing some money on something to get even fewer in return".

If nicehash started ETH.. that would change it.

RoseMann

sr. member

Activity: 270

Merit: 250

Quote from: Ziskinberg on May 22, 2016, 05:48:22 AM

Quote from: Ziskinberg on May 22, 2016, 05:48:22 AM

The earlier you came in the better it is for mining while the difficulty is still low but it'll get to the point where mining ETH will only for big farms with low electricity cost.

Is there any cloud mining for the ETH so if anyone who cannot afford to buy mining equipment, we can have an option to just put our investment online?

You can do cloud mining with Genesis Mining. https://www.genesis-mining.com/our-offer.

the price is not cheap.

The price is $3700 per 100 MH/s. With $3700, you can buy 12 R9 390 and build two rigs with 350 MH/s.

Gestiside

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Activity: 28

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The earlier you came in the better it is for mining while the difficulty is still low but it'll get to the point where mining ETH will only for big farms with low electricity cost.

Is there any cloud mining for the ETH so if anyone who cannot afford to buy mining equipment, we can have an option to just put our investment online?

You can do cloud mining with Genesis Mining. https://www.genesis-mining.com/our-offer.

the price is not cheap.

Tmdz

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Activity: 1008

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Yea but mining hardware is at least 3 times cheaper than cloud mining. Genesis mining wants $925 for 25 mh or you could mine with a single R9 390 card and make 27 mh for $330. You will be throwing your money away with cloud mining.

Ziskinberg

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Quote from: limbaugh on May 21, 2016, 04:07:53 PM

The earlier you came in the better it is for mining while the difficulty is still low but it'll get to the point where mining ETH will only for big farms with low electricity cost.

Is there any cloud mining for the ETH so if anyone who cannot afford to buy mining equipment, we can have an option to just put our investment online?

Dekker3D

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The earlier you came in the better it is for mining while the difficulty is still low but it'll get to the point where mining ETH will only for big farms with low electricity cost.

frostminer

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Quote from: bugsywugsy on May 21, 2016, 03:13:02 PM

GPUs are very expensive, and mining pools aren't very profitable. Summer is coming, and a lot of people are about to find out just how much heat these things produce.

I love when new miners are shocked about their power bill. You will never compete against people who operate next to a dam or some other scheme to get cheap power.

It is just not feasible for home miners anymore and most likely will never be again. Buy coins - don't mine.

If you read the posts here, you'll see its about 1/7th of the profit goes to powerbill.

So its actually quite little.

Amph

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Quote from: adaseb on May 21, 2016, 09:15:14 PM

Quote from: Amph on May 21, 2016, 03:27:29 AM

Quote from: Amph on May 21, 2016, 03:27:29 AM

We are not saying you will lose money. Even the ones with the highest electricity should have most of their rigs paid off.

Problem is these profits simply won't last. Been mining for years and these are record daily profits I am making mining.

That is right. In 2013 and 2014 for a few months, it was very profitable to mine Dodge, but that did not last.

doge at early stage was more profitable than anything else, i was doing million a day with one gpu only, and 1M was then worth 200 satoshi

just do the math, just do it....not even ethereum can dream of such profit

There is no way you made $2000 per day mining DOGE with one GPU.

I remember it was more like $10/day with a 280X.

actualy there is because bitcoin then skyrocket to 1200, and i was instamining 10M when doge was launched, then it fall to 3-4 then 2M etc...it did not last long, around 1 week, i can give you that

adaseb

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Quote from: bugsywugsy on May 21, 2016, 03:13:02 PM

We are not saying you will lose money. Even the ones with the highest electricity should have most of their rigs paid off.

Problem is these profits simply won't last. Been mining for years and these are record daily profits I am making mining.

That is right. In 2013 and 2014 for a few months, it was very profitable to mine Dodge, but that did not last.

doge at early stage was more profitable than anything else, i was doing million a day with one gpu only, and 1M was then worth 200 satoshi

just do the math, just do it....not even ethereum can dream of such profit

There is no way you made $2000 per day mining DOGE with one GPU.

I remember it was more like $10/day with a 280X.

limbaugh

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Activity: 1311

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GPUs are very expensive, and mining pools aren't very profitable. Summer is coming, and a lot of people are about to find out just how much heat these things produce.

I love when new miners are shocked about their power bill. You will never compete against people who operate next to a dam or some other scheme to get cheap power.

It is just not feasible for home miners anymore and most likely will never be again. Buy coins - don't mine.

bugsywugsy

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Activity: 176

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GPUs are very expensive, and mining pools aren't very profitable. Summer is coming, and a lot of people are about to find out just how much heat these things produce.

Zemomtum

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Quote from: Amph on May 21, 2016, 03:27:29 AM

We are not saying you will lose money. Even the ones with the highest electricity should have most of their rigs paid off.

Problem is these profits simply won't last. Been mining for years and these are record daily profits I am making mining.

That is right. In 2013 and 2014 for a few months, it was very profitable to mine Dodge, but that did not last.

doge at early stage was more profitable than anything else, i was doing million a day with one gpu only, and 1M was then worth 200 satoshi

just do the math, just do it....not even ethereum can dream of such profit

That was 2 bitcoins a day for one GPU. That is really profitable. I wonder if there will any coin as profitable.

Amph

legendary

Activity: 3248

Merit: 1070

We are not saying you will lose money. Even the ones with the highest electricity should have most of their rigs paid off.

Problem is these profits simply won't last. Been mining for years and these are record daily profits I am making mining.

That is right. In 2013 and 2014 for a few months, it was very profitable to mine Dodge, but that did not last.

doge at early stage was more profitable than anything else, i was doing million a day with one gpu only, and 1M was then worth 200 satoshi

just do the math, just do it....not even ethereum can dream of such profit

Hahnatise

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