PSA: It's still much more profitable to buy BTC and hold it then mine cryptos.
If you bought a 1070 a month ago for $400 it would have made you roughly $75 ($2.5 x 30). BTC increased by 56% over the last month (you could've made more if you bought and sold at big peaks), that same investment of $400 would have earned you $224 or $7.5 per day. More then three times what you could earn mining. That $400 is also very fluid, meaning you can buy/sell/reinvest/buy equipment with it. That 1070 is now a asset and can't be easily sold or repurposed.
Have fun.
Here's a PSA:
If you bought a 1070 a month ago it would still be worth $400 today and you'd have that $75. In fact, repeat that over the course of a year and we can buy several more GPUs and several more $75 earnings. I bet in 5 years from now you can still sell a 1070 for at least $200. Who knows what the price of bitcoin will be.
Either way, invest in bitcoin or invest in GPUs... it doesn't matter and is totally up to the individual. If I'm boring then I'll just buy bitcion and vegetate while watching TWD. If I'm super cool crypto guy I'll mine
That doesn't even make sense? That's $224 in addition to $400. Your money doesn't disappear and you sell if BTC starts pooping. It's a percent dude. You invest in a couple GPUs, you'd invest in more BTC and that BTC would make you even more money. That GPU returned 19%, the same investment in BTC returned 54%.
No, no one is buying a 1070 for $200 in five years. Based on a quick ebay of a 670 (which came out 5 years ago), you're looking at $70 and that's if you can find someone willing to buy them. In addition to that I don't think you understand the logistics of selling lots of GPUs. eBay and Paypal will take about 12% of that as well, you'll have to spend time and labor on doing so, and of course shipping costs.
I don't think you understand investment. A GPU, a BTC, they're both investments only BTC is super fluid as I already mentioned. GPUs are not fluid. You can't just sell your GPUs on a whim and shift to an entirely different market. Mining isn't about buying one GPU and mining with it, it's about diversifying your assets and maximizing profits.
Yup, mining is about 'being cool'. I'm sure you'll keep that mindset if earnings ever go negative.
