Topic: Can You Make Money Mining Cryptocurrency At Home? Res. Elec. Rates Kill Profits! - page 2. (Read 690 times)

this video update is basically the next step after running all of these numbers if anyones interested

https://www.youtube.com/watch?v=ukoGzDfYZRE

Gaining $1.45- $150 for a day and end up negative due to high electricity cost.Then i do stopped right away.

If you already break even on the cost of your rig(only possible on previous year) then mining with some minimal profits will really be still a considerable reason but if profits will
be just almost equal on expense then i dont see the point.

I guess you can make money in mining cryptocurrency but in a small amount of money you will gain. There is electricity you must pay and also the price of the video cards are high....

I too expected mining revenue to decrease this year due to decreasing crypto prices and continually rising difficulty, but I never expected profitability to drop as low as it now either. I like your video so far, I'm still going through it but I like how you go into detail with math and your actual electric bill when discussing profitability. A lot of people don't realize that they potentially have added fees some utility companies charge on top of your basic electrical rate.

At least winter's coming soon at the least, temps are already going down where I live to the mid 50s. I don't have nearly as many machines ASICs and GPU rigs due to decreased profitability as I did the same time last year, but I'll still be able to use the remaining rigs I have left to heat my house. Hopefully profitability doesn't continue to drop more when the winter comes.

I know I expected a minor pullback but nowhere near where it is right now.  Its Shocking how low the profitability is.

what about those sweet little acorns though

I have a single 215+ eventually on the way

I looked at your chart. So you are making about $2.16 a day mining ETH but after electric you only net $0.22 or so. This is for 5 GPUs.

If you take into account pool fees, exchange fees, transaction fees, bank fees, stale shares, crazy, you probably end up at a negative.

Its really crazy how much mining has decreased since the beginning of the year.

Can you still make money mining cryptocurrency at your own home?
Buy your own Mining Rig parts on Amazon - http://geni.us/CujsiX

https://www.youtube.com/watch?v=nLkbVWbddcM


One of the top questions I receive is if it is still profitable to mine cryptocurrency and if crypto mining is still one of my main sources of income. Unfortunately cryptocurrency mining has gained the interest of a lot of big players with a lot of money. . and with that that entire cryptocurrency mining ecosystem continues to change.

Today I breakdown my electric bill and compare it to what I was paying to mine crypto last year. Your electric rate will have a massive impact on whether or not cryptocurrency mining will be profitable for you. No matter if you are mining Bitcoin, Ethereum, Litecoin, or perhaps Aion / Loki / Ethereum Classic like me -- the biggest factor when determining if and what you should mine in a bear market will be influenced by your electric rate. My electric rate last year was effectively 10 cents per kWh (kilowatt hour) and with the hike / introduction of a higher summer electric rate for me, my electric rate increased to almost 14 cents per kWh.

Lets breakdown my crypto mining profitability, and how the increase in my electric rate impacted my overall earnings / profitability / ROI much more than many expected.

Links discussed in todays Crypto Mining Video

Loki Network Crypto Coin to USD - http://bit.ly/2CAO1Vu
What To Mine Profit Calc. 5x RX 570 Rig - http://bit.ly/2pMnrAk
Aion Network Coin Mining Profit Calc - http://bit.ly/2E7VPzu
Aion Network Crypto to USD CoinGecko - http://bit.ly/2A9oFxC
12x Rx 570 Mining Rig Profitability - http://bit.ly/2y6Vzva
8x Nvidia 1070 TI Mining Rig Profits - http://bit.ly/2yahbHb

Mining Rig Parts IN STOCK on Amazon - http://geni.us/WQd7cCs

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