My conclusion is if you don't want to go through all of this its better you switch to POS ( Proof of Stake) that won't cost you any energy and worries, its all about buying coins and staking them, no hassle at all, the higher the quantities of your coins the higher your reward
Topic: Facts about mining Coins - page 2. (Read 260 times)
My conclusion is if you don't want to go through all of this its better you switch to POS ( Proof of Stake) that won't cost you any energy and worries, its all about buying coins and staking them, no hassle at all, the higher the quantities of your coins the higher your reward
Lol, are we revisiting 2014, some people are desperate. Private cloud servers are not a reliable, stable immutable data ledger.
Individuals input to mining had not been profitable since last few months and this makes miners be more trade minded. Profit wont come from trading coin immediately and I believe the approaching Halving prompted miners to understand how rigorous it would get. Every one needs to know how to maximise the bullrun even as a miner. Keep enough fund for the next 4-5 years to cater for the bills. We will always have miners and they know how they profit now.
Both pos and pow have their own shortcomings and characteristics. POS allows centralized power monopoly, while POW results in wasted resources. However, both are still good. POS will not waste resources, POW will not suffer from these power concentration problems, and the two can be combined to produce more efficient algorithms. This keeps the cryptocurrency market moving forward.
My conclusion is if you don't want to go through all of this its better you switch to POS ( Proof of Stake) that won't cost you any energy and worries, its all about buying coins and staking them, no hassle at all, the higher the quantities of your coins the higher your reward
Your GPU can die on you at any time, it happened to me and I was able to fix some but not all, mostly this happens because of heat or failed GPU fans
This can easily be avoided by undervolting and improving cooling. Yes, not everyone has AC in the room where the miners are, but i've been able to keep my cards at 60c with fans at less than 50%, by just adding couple of cheap chineese fans on the frame.
While mining cryptocurrencies can be profitable on the long run there are few things that's making things very hard for miners
1. OBSOLETE
Back in the days when mining was still very profitable I used to have very good GPUs then, like AMD HD7970 6x and it was very fun mining Monero and making good profits within a week but now its impossible and all these cards are useless, I was forced to sell and move on, the fact is GPUs become obsolete faster than Asic miners
2. Cost of Electricity
Most profits from miners now are for electricity fees, I still have friends that mine ETH and by month ending 70% of his profits goes to electricity, he is able to even earn that 30% because he has multiple mining setups
3. Dead GPU
Your GPU can die on you at any time, it happened to me and I was able to fix some but not all, mostly this happens because of heat or failed GPU fans
My conclusion is if you don't want to go through all of this its better you switch to POS ( Proof of Stake) that won't cost you any energy and worries, its all about buying coins and staking them, no hassle at all, the higher the quantities of your coins the higher your reward
1. OBSOLETE
Back in the days when mining was still very profitable I used to have very good GPUs then, like AMD HD7970 6x and it was very fun mining Monero and making good profits within a week but now its impossible and all these cards are useless, I was forced to sell and move on, the fact is GPUs become obsolete faster than Asic miners
2. Cost of Electricity
Most profits from miners now are for electricity fees, I still have friends that mine ETH and by month ending 70% of his profits goes to electricity, he is able to even earn that 30% because he has multiple mining setups
3. Dead GPU
Your GPU can die on you at any time, it happened to me and I was able to fix some but not all, mostly this happens because of heat or failed GPU fans
My conclusion is if you don't want to go through all of this its better you switch to POS ( Proof of Stake) that won't cost you any energy and worries, its all about buying coins and staking them, no hassle at all, the higher the quantities of your coins the higher your reward
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