GPU Mining Is NOT Profitable In My HOUSE - October 2018 Mining Farm Update

VoskCoin

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Quote from: Metroid on October 21, 2018, 07:09:35 AM

Quote from: adaseb on October 20, 2018, 06:55:41 PM

One way you can earn some more USD or BTC with little risk is by lending it on Bitfinex or Bitmex. Basically you don't get much but you get way more than in a US dollar savings account. Currently Bitfinex pays 0.02% a day while Bitmex plays 0.03% a day.

Yes there is the risk of them getting hacked so you shouldn't keep all your coins on there but depending on how many BTC you own, it might be more profitable right now then mining if you got large electricity rates.

You forgot to add an example, always give examples for people to understand how it works in the end, if is worth or not, if you have 10.000 usd, interest rate at 0.02 bitfinex, that will earn you $2 per day, in a year x 364 = 728 usd, not worth at all cause coins jump prices very fast and increase many times, now lending btc or eth that might be a good alternative but still risk if the exchange is hacked like you mentioned. Well in this bear market, never hold usd and if you have usd then exchange fast for coins like btc or eth, remember that eth price is very low, anytime its price might jump to $400 in few hours, $800 in a day or so, never underestimate volatility in crypto.

Remember that in a bull market if the price of the coin you are holding rose 50 times then exchange to usd and never look back, wait things to settle down and then buy your coin back if the coin you sold crashed 4 to 8 times.

that's the real premium advice here lol, take profits and know most coins will eventually tumble back down for good ops to buy back in

VoskCoin

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Quote from: shield132 on October 21, 2018, 07:25:48 AM

Don't try HDD mining, everyone I know swears it's the worst thing they did in mining, also burst coin mining sucks the most. I don't know what's happening in your house but in my house GPU mining is profitable, I mine with Nvidia gtx 1070, 1070ti and 1080ti, ROIed 1/5 in one week, last year, so finally it was a good investment for me.
Btw don't get so stressed, do you still profit some cents or not? If not then how much you lose in month? Because possibly it can give you almost free winter, then I would sell them.

burstcoin mining (while I think its super cool / interesting) has been such a time consuming fruitless ($) endeavor . . lol

VoskCoin

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Quote from: dagarair on October 20, 2018, 11:46:25 AM

Come to my place i'll give you 75$ a kw if you are over 50kw. Tongue

Roughly 10 cents

you know my friend, that is really not a bad offer! lol (at least w/ my rates)

VoskCoin

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Quote from: Thekool1s on October 20, 2018, 12:47:02 PM

Quote from: VoskCoin on October 20, 2018, 11:17:20 AM

Quote from: Thekool1s on October 20, 2018, 09:49:01 AM

Quote

What do you think are proper realistic earnings for a healthy gpu mining community? 1 dollar per day after electric paid? 50 cents? obviously a ton of variables but interested to hear more of your thoughts on that

There are no 'realistic earnings' for keeping a healthy GPU mining community. There are just too many factors/variables involved. How does a guy who has an electricity cost of 0.15$/Kwh compete with a guy who has 0.08$/Kwh? How can you satisfy them both? The answer is a simple one. You can't. That's what happens with the free markets.

Quote

roi less than 200 days and more than 150 days is a must.

You can't dictate the Free markets. There is no way to ensure this. There will always be a guy who has access to cheaper electricity than you and you can't ask him to sell his coins at a lower price cuz for him, he still will be making a good 'healthy' profit. Hence why we are in this situation. People who have a cost of 0.02$/Kwh are still making a decent amount and their ROI is in your suggested timeframe.

sounds like only satoshi can save us then?

Lol. Well, he created the world's first decentralized "Currency" I am sure he can pull off another miracle by saving the GPU mining community. Tongue

If he would just initiate a bullrun, I'd be happy enough lol

jqprez

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The question is: if 100 miners are in action, and the gain is 1000, they gain 10 x one. If are in action 50 miners they gain 20 x one. Correct?

uralcryptocoin

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SIGNATURE CREATION by uralcryptocoin

Quote from: jqprez on October 21, 2018, 11:01:27 AM

And what do we do? Turn off?

It depends only on your own financial plan. Today the mining is far from the most profitable investment. Looks like Vosk made a right choise of selling mining equipment. The hardware get old enough quickly. Practically everytime the buying of coins was more profitable than mining just should choose right coin and believe in that Wink

jqprez

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And what do we do? Turn off?

badbart

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Activity: 449

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Quote from: d57heinz on October 21, 2018, 10:30:30 AM

Quote from: badbart on October 21, 2018, 10:17:24 AM

I have .049 electricity and haven’t stopped mining. I bought my rigs two years ago and they have been paid for many times over. My 200 amp breaker in my house is maxed out and I’ll mine until I can’t make any money. I think people need to realize all markets have ups and downs and after a huge bull run it can take two years to recover. Next time and huge run up happens don’t be the fools buying at the top, when crypto is all over the news and your neighbors are talking about its time to be weary. I’ve traded stocks, combcocities and options for 25 years and it’s always the same cycle.

This is exactly why this system isn’t made for long term in mind. When the point comes that you inevitably have to shut down that’s just one more axe into the decentralized idea. How will this system stay secure during the lows when it consolidates both price and miners. That’s the whole problem with the boom bust cycle. Take a step back and look at all industries. Booms and busts force consolidation into smaller and smaller pools of people. Thus aggregating the power to the top 1% again. Ohhh boy do we have a clusterfuck on our hands

BR

You guys know more about the coins techincal aspects then I do. But I would think if you have coins committed to be ASIC resistant then we might have hope. Markets cycle and you have to always be prepared, your going to have bad years no one will make a consistent $4 a day per gpu.

d57heinz

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Quote from: badbart on October 21, 2018, 10:17:24 AM

I have .049 electricity and haven’t stopped mining. I bought my rigs two years ago and they have been paid for many times over. My 200 amp breaker in my house is maxed out and I’ll mine until I can’t make any money. I think people need to realize all markets have ups and downs and after a huge bull run it can take two years to recover. Next time and huge run up happens don’t be the fools buying at the top, when crypto is all over the news and your neighbors are talking about its time to be weary. I’ve traded stocks, combcocities and options for 25 years and it’s always the same cycle.

This is exactly why this system isn’t made for long term in mind. When the point comes that you inevitably have to shut down that’s just one more axe into the decentralized idea. How will this system stay secure during the lows when it consolidates both price and miners. That’s the whole problem with the boom bust cycle. Take a step back and look at all industries. Booms and busts force consolidation into smaller and smaller pools of people. Thus aggregating the power to the top 1% again. Ohhh boy do we have a clusterfuck on our hands

BR

badbart

member

Activity: 449

Merit: 24

I have .049 electricity and haven’t stopped mining. I bought my rigs two years ago and they have been paid for many times over. My 200 amp breaker in my house is maxed out and I’ll mine until I can’t make any money. I think people need to realize all markets have ups and downs and after a huge bull run it can take two years to recover. Next time and huge run up happens don’t be the fools buying at the top, when crypto is all over the news and your neighbors are talking about its time to be weary. I’ve traded stocks, combcocities and options for 25 years and it’s always the same cycle.

chaoprokia

newbie

Activity: 28

Merit: 0

I have 40 570/580 Getting rid most of them.
Keep 1-2 Rigs.

Losing $$$ per day

jqprez

member

Activity: 813

Merit: 65

I have a rig. 1 1080 ti 11 gb. 1 1070 8gb and 1 1060 6gb. How i must configure for be profitable?

shield132

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Don't try HDD mining, everyone I know swears it's the worst thing they did in mining, also burst coin mining sucks the most. I don't know what's happening in your house but in my house GPU mining is profitable, I mine with Nvidia gtx 1070, 1070ti and 1080ti, ROIed 1/5 in one week, last year, so finally it was a good investment for me.
Btw don't get so stressed, do you still profit some cents or not? If not then how much you lose in month? Because possibly it can give you almost free winter, then I would sell them.

Metroid

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Xtreme Monster

Quote from: adaseb on October 20, 2018, 06:55:41 PM

One way you can earn some more USD or BTC with little risk is by lending it on Bitfinex or Bitmex. Basically you don't get much but you get way more than in a US dollar savings account. Currently Bitfinex pays 0.02% a day while Bitmex plays 0.03% a day.

Yes there is the risk of them getting hacked so you shouldn't keep all your coins on there but depending on how many BTC you own, it might be more profitable right now then mining if you got large electricity rates.

You forgot to add an example, always give examples for people to understand how it works in the end, if is worth or not, if you have 10.000 usd, interest rate at 0.02 bitfinex, that will earn you $2 per day, in a year x 364 = 728 usd, not worth at all cause coins jump prices very fast and increase many times, now lending btc or eth that might be a good alternative but still risk if the exchange is hacked like you mentioned. Well in this bear market, never hold usd and if you have usd then exchange fast for coins like btc or eth, remember that eth price is very low, anytime its price might jump to $400 in few hours, $800 in a day or so, never underestimate volatility in crypto.

Remember that in a bull market if the price of the coin you are holding rose 50 times then exchange to usd and never look back, wait things to settle down and then buy your coin back if the coin you sold crashed 4 to 8 times.

hiphoptrail

jr. member

Activity: 462

Merit: 2

hey everyone,

i was just trying to stir up some thoughts in everyone about our entire industry and how we reach "decentralized", "freedom" along with other avenues.

if you were honest, satoshi's white paper say's cpu's not gpu's, not asics, not pos, not master nodes, not dpos etc...

we all need to evolve as the blockchain grows legs and gets used by everyone. we are all on the same team, lets grow together.

hip hop and away...

adaseb

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Up to 300% + 200 FS deposit bonuses

I finally saw the video that Vosk posted and I will discuss the topic of getting passive income now that GPU mining is no longer viable for most.

Like he said in the video, trading is not really passive income since you need to put in alot of work to generate money and most likely you will end up getting REKT'd.

He suggested to run some masternodes which is a good way to get more alt coins however running a master node is risky for many reasons. First one you can get your coins stolen if you don't know what you are doing. Second the value of the actual alt in respect to BTC or even USD can and most likely will keep falling if this bear market continues, so its not different than trading.

One way you can earn some more USD or BTC with little risk is by lending it on Bitfinex or Bitmex. Basically you don't get much but you get way more than in a US dollar savings account. Currently Bitfinex pays 0.02% a day while Bitmex plays 0.03% a day.

Yes there is the risk of them getting hacked so you shouldn't keep all your coins on there but depending on how many BTC you own, it might be more profitable right now then mining if you got large electricity rates.

Thekool1s

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Activity: 1512

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Change is in your hands

Quote from: VoskCoin on October 20, 2018, 11:17:20 AM

Quote from: Thekool1s on October 20, 2018, 09:49:01 AM

Quote

What do you think are proper realistic earnings for a healthy gpu mining community? 1 dollar per day after electric paid? 50 cents? obviously a ton of variables but interested to hear more of your thoughts on that

There are no 'realistic earnings' for keeping a healthy GPU mining community. There are just too many factors/variables involved. How does a guy who has an electricity cost of 0.15$/Kwh compete with a guy who has 0.08$/Kwh? How can you satisfy them both? The answer is a simple one. You can't. That's what happens with the free markets.

Quote

roi less than 200 days and more than 150 days is a must.

You can't dictate the Free markets. There is no way to ensure this. There will always be a guy who has access to cheaper electricity than you and you can't ask him to sell his coins at a lower price cuz for him, he still will be making a good 'healthy' profit. Hence why we are in this situation. People who have a cost of 0.02$/Kwh are still making a decent amount and their ROI is in your suggested timeframe.

sounds like only satoshi can save us then?

Lol. Well, he created the world's first decentralized "Currency" I am sure he can pull off another miracle by saving the GPU mining community. Tongue

hiphoptrail

jr. member

Activity: 462

Merit: 2

Quote from: VoskCoin on October 20, 2018, 11:16:16 AM

Quote from: hiphoptrail on October 20, 2018, 08:09:05 AM

I am sick and tired of hearing you whining gpu miners about asics. i can tell you are not long in this industry.

where the hell were you when cpu's went to gpu's? no butt hurt talk then. this is because you got into this industry due to you
sitting in your parents basement playing video games with your gpu and found out it could be used for mining and making money.

asics are actually more decentralized than gpu's. not everyone is a cryptogeek and cry baby. one can purchase a ascis and secure the blockchain at their home with very little effort compared to gpu, mining.

cry me a river you late people to the blockchain butt hurt gpu selfish miners...

hip hop and away...

https://www.youtube.com/watch?v=5Tgq-KAMWrs

you said you wanted to see mining farms in moms basement right? here you go

yes, moms basement mr. pimp your channel out

dagarair

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Activity: 847

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Come to my place i'll give you 75$ a kw if you are over 50kw. Tongue

Roughly 10 cents

VoskCoin

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Activity: 1414

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Quote from: Thekool1s on October 20, 2018, 09:49:01 AM

Quote

What do you think are proper realistic earnings for a healthy gpu mining community? 1 dollar per day after electric paid? 50 cents? obviously a ton of variables but interested to hear more of your thoughts on that

There are no 'realistic earnings' for keeping a healthy GPU mining community. There are just too many factors/variables involved. How does a guy who has an electricity cost of 0.15$/Kwh compete with a guy who has 0.08$/Kwh? How can you satisfy them both? The answer is a simple one. You can't. That's what happens with the free markets.

Quote

roi less than 200 days and more than 150 days is a must.

You can't dictate the Free markets. There is no way to ensure this. There will always be a guy who has access to cheaper electricity than you and you can't ask him to sell his coins at a lower price cuz for him, he still will be making a good 'healthy' profit. Hence why we are in this situation. People who have a cost of 0.02$/Kwh are still making a decent amount and their ROI is in your suggested timeframe.

sounds like only satoshi can save us then?

Topic: GPU Mining Is NOT Profitable In My HOUSE - October 2018 Mining Farm Update (Read 1819 times)