is it still profitable? How many rigs do the big boys still have...

albertorm2

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Quote from: Metroid on November 21, 2018, 02:08:41 AM

Quote from: albertorm2 on November 21, 2018, 01:37:12 AM

I have 26 GPU. Nvidia and amd mixed. I pay 0.12€/kwh and still profitable for me. However I had to improve my GPUs efficiency by undervolting even more. I always do my research and go for promising coins.

You deserve the title of "i don't know what the hell i'm talking about". If -$0.03 is profitable for you per day per gpu then i really have no idea.

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30.0&p=130.0&fee=2.0&cost=0.12&hcost=0.0&commit=Calculate

As I said, Im mining new coins and I have big undervolt.

You deserve the title of "I don't know to read"

Metroid

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Xtreme Monster

Quote from: albertorm2 on November 21, 2018, 01:37:12 AM

I have 26 GPU. Nvidia and amd mixed. I pay 0.12€/kwh and still profitable for me. However I had to improve my GPUs efficiency by undervolting even more. I always do my research and go for promising coins.

You deserve the title of "i don't know what the hell i'm talking about". If -$0.03 is profitable for you per day per gpu then i really have no idea.

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30.0&p=130.0&fee=2.0&cost=0.12&hcost=0.0&commit=Calculate

albertorm2

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I have 26 GPU. Nvidia and amd mixed. I pay 0.12€/kwh and still profitable for me. However I had to improve my GPUs efficiency by undervolting even more. I always do my research and go for promising coins.

As I posted in past:

Quote

Yes, It's still profitable.

PoW won't ever become unprofitable*. If that ever happens then people would stop mining. This would lead to difficulty decrease which would make mining profitable again!

Asics and FPGAs are not a big problem as developers are making new mining algorithms every day! It's good to have a versatile hardware for new coins.

*However you'll have to update your hardware as hardware is always improving...

To be honest I really like cryptocurrencies and the concept of proof of work. I don't think I'll ever stop mining. If market crashes like It's happening I'll just do more research.

Anyway If you don't really like wasting your time on mining maybe you shouldn't mine. (at a moment like this)

Metroid

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Xtreme Monster

Quote from: Za1n on November 20, 2018, 04:14:21 AM

Well the way things are right now unless you have 6 cent power and no rent or other overhead, you are not making any money on any coins.

Using ETH as an example, at $130, I see 8 cent power is breakeven only figuring for power and already paid off rigs. In reality with pool fees, miner fees, pool luck, miner luck, reboot downtime, etc., it is probably closer to 7 cents power for a true breakeven, as the other 1 cent is for the (unseen by many) overhead costs.

So those continuing to mine in order to accumulate the coins for at or more than what you can buy them for at these levels is simply insane. Even at 6 cent power you are maybe making a whopping 60 cents per day for an entire 6x RX480 rig, or roughly 10 cents per GPU.

LOL, even an used $100 eBay GPUs will now need 1000 days to recoup their costs!!! Mining is dead!

Well seeing what was behind the doors regarding the asics last January, I must say I was spot on on the "GPU mining will die in 2018!". It's sad but I'm always right about my predictions.

FloppyPurpleGherkin

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Quote from: Za1n on November 20, 2018, 04:14:21 AM

Well the way things are right now unless you have 6 cent power and no rent or other overhead, you are not making any money on any coins.

Using ETH as an example, at $130, I see 8 cent power is breakeven only figuring for power and already paid off rigs. In reality with pool fees, miner fees, pool luck, miner luck, reboot downtime, etc., it is probably closer to 7 cents power for a true breakeven, as the other 1 cent is for the (unseen by many) overhead costs.

So those continuing to mine in order to accumulate the coins for at or more than what you can buy them for at these levels is simply insane. Even at 6 cent power you are maybe making a whopping 60 cents per day for an entire 6x RX480 rig, or roughly 10 cents per GPU.

LOL, even an used $100 eBay GPUs will now need 1000 days to recoup their costs!!! Mining is dead!

I agree, It's never ever been at a lower point than now.. Except for 2009 maybe, briefly.

I personally see BTC heading towards $1k in 2019 and a rebound to $5k in late 2019-early 2020.

Za1n

legendary

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Well the way things are right now unless you have 6 cent power and no rent or other overhead, you are not making any money on any coins.

Using ETH as an example, at $130, I see 8 cent power is breakeven only figuring for power and already paid off rigs. In reality with pool fees, miner fees, pool luck, miner luck, reboot downtime, etc., it is probably closer to 7 cents power for a true breakeven, as the other 1 cent is for the (unseen by many) overhead costs.

So those continuing to mine in order to accumulate the coins for at or more than what you can buy them for at these levels is simply insane. Even at 6 cent power you are maybe making a whopping 60 cents per day for an entire 6x RX480 rig, or roughly 10 cents per GPU.

LOL, even an used $100 eBay GPUs will now need 1000 days to recoup their costs!!! Mining is dead!

Comino

jr. member

Activity: 182

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No noise. No hustle. Quiet as whisper. Comino.

Many forum members here are still mining, especially the ones who have reached their ROI and keep mining just with a smaller profit.

The profit now is very dependable on various factors - electricity costs, rigs and cards you are mining on.

P.S.: it is also important that you have high quality components on your rig, so that by the time you achieve your ROI, it’s parts have not degraded, making you lose your profit.

Most of the miners here say - “stopped mining the profit is too low”, which proves that there still is profit, we were just spoiled by another mining tempo for the last couple of years.

Bulitt

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As of now the only rigs that are profitable are the Vega and 1080ti rigs that are giving a better hash per watt efficiency. All of us with older rigs are finally out of the picture completely. The good news is that the cards that are now obsolete for mining are still perfectly capable of playing all but the latest games at high/ultra settings, and can still make the latest games playable on lower settings. Now is the window to sell the GPU's while they can still play games.

Ryzen2700x

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I think that next year when 7nm GPU's will come out + 7NM ASIC's then the CRYPTO world will start to come to life again.
Also in future we gonna have MCM GPU design that will make 1080TI like ~GTX 1060/1050. 7NM wide spread is the key for the CRYPTO world!.

Ljunior

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Save Palestine

I don't sell my mining rig and I don't buy any coins for the current sitution. atm, if you have a lot of money better investing in other assets Grin

dragonmike

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Personally, at $0.16/KWh my polaris rigs are not profitable anymore. My Vegas and 1080's are still churning but basically just for show as they make about a buck a day each.

So I'm spec mining a bit, solo-mining some, trying out stuff. I've got a potential free-power hosting opportunity coming up so I'm keeping all rigs and take it as it comes.

martincooo

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Quote from: swogerino on November 16, 2018, 03:53:41 AM

Selling graphic cards is indeed a stupid thing to do but selling them in favour of buying new more powerful ones with a little bit of extra money is not stupid at all.

From my point of view, i'm considering to sell all of the GPU's, only so i can buy new coins again. Currently, there is no point of mining when electricity is ~75+ % of the whole income. And again, if i take the money that i pay for electricity, i can buy more coins that i mine..

nsummy

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Quote from: Marvell2 on November 15, 2018, 11:55:56 PM

Quote from: Za1n on November 14, 2018, 05:51:15 PM

Quote from: Exoskeleton on November 14, 2018, 02:59:29 PM

Quote from: Indamuck on November 14, 2018, 08:06:46 AM

It's already over for the home miners, the only people making big profits are the giant farms with extremely low electricity. It was fun while it lasted but I suggest selling off your GPUs before they become worthless. Maybe if you have solar power or really cheap electricity you can continue mining but for most people it is not worth it anymore in the slightest.

I have to say, this was exactly the mantra back in 2012/2013. For real.

Yet here we are. I bet we will be hearing the same thing in 5 years, yet people will still be mining at home for a small profit.

It might have been the mantra but that doesn't make it incorrect. The GPUs used back in 2012/2013 would have been very inefficient compared to the newer ones available in 2016/2017 when home mining made its comeback.

Sure if you hung on to your gear from 2012/2013 you would have made some additional profits in 2016/2017, but you would have made more money by selling your gear off back in 2014 when it still had value and with that money either bought coins directly when they were cheap or invested in newer cards in early 2016 when mining started becoming profitable again. Mining is cyclic which seems to take 4-5 years to work through the entire boom/bust phase, well GPU technology and efficiency changes quite a bit in those 4 to 5 years to expect your old hardware to compete when the new cycle hits.

So yes in 5 years we will be hearing the same thing and people will be home mining, but they will be mining with new GPUs not even available yet that will outperform your current cards by 2-3 times. I also say sell them off now while they still may have some worth and either save the money for new cards in 1-2 more years, or better yet just buy some coins outright while they are cheap and just hang on for the next cycle.

selling gpus into a downturn is stupid af, the time to sell them was when there was a scarcity
its one thing if vega and 2000 series were say like double the power or efficiency but they barely push
20 percent better than polaris and 10x

better to hold

Thanks for the advice captain obvious. The issue is that when there was scarcity, it was very profitable! Yes it would have been best to sell at the top. You could say that about literally anything. There is an opportunity cost with keeping your gpus. You can hold onto them, make pennies, and hope things improve drastically in the near term, or sell them and put the money to work in other ways.

gotminer

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Quote from: Piskeante on November 14, 2018, 06:25:30 AM

I had two rigs with 12 GPU total. 377mh/s. i shut them down like 4 months ago.

Every month i make my calculations, considering the price of the coin, electricity costs, and heat related issues (specially where i live because it's hot here in Spain).

Reality matters the most for me.

1º i DO NOT THINK THIS MARKET WILL RECOVER

2º There will be NO BULL RUN IN DECEMBER.

3º ETH is not doing well, no important projects are making contracts with it, and the amount of money received by smart contracts is not being said, so if the one that has to "pump" the hype among investors, is not doing it, just put yourself in the worst scenario possible.

if i had been mining during the last 4 months, i would have payed something around 340$ only for the machines, every two months, so 680$ of electricty generated by machines, but generating around 0,70-0.80 ETH a month, i would have lost around 7 $ a month if i sold for cash to pay bills WITH NO GARANTEE THAT HOLDING I WOULD DO BETTER.

So for me, the decision to stop machines WAS A VERY GOOD DECISION. For me, this market is dying and it's obvious.

Normie tryin to mine and trade Grin

moneymakescents777

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Instead of mining just find undervalued crypto’s. Much better value doing research https://youtu.be/A7EwZVOQ6BQ

EdgeOfSanity

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9 rigs, 66 gpus, 60/40 split 1070ti/1080ti, $.09/kwh for electric. Mining shitcoins, still profitable.

Intristing

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Quote from: ximae on November 14, 2018, 01:40:58 PM

I stopped mining in july, too little profit to deal with the heat, and sold most of of my gpus. I kept a couple, one at each location i mine ( home and work). I just started again with them, its getting colder now so its basically free heating and a small 1$ day profit ( a 1080ti can basically still do like 50c day after electricity) after 0.12 electric cost. which i basically just trade for btc and hodl it in case sometime the next couple of years it takes off again.

once it starts getting warmer again ill stop unless the situation has changed drastically.

I do the same. The only difference is that my electricity is higher at $0.18. So I use the miner for heating.

jardine

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1) I m sure that mining is still profitable, but you need much time to search new and low difficulty
coins - they can give good profit, if you come in early.

2) Also now is perfect time to buy used GPU-rigs from people who decide sold them for cheap.
If you have affordable electricity cost it can be a beneficial deal for you.

Jjphotos

newbie

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This is interesting as I'm just considering starting small in mining, more for technical interest and to link to a pool, as I have an old PC I could use with just a single GPU for now, that way I only have the cost of the actual GPU to consider. Anyone with any suggestions as to which GPU to look at right now. I was looking at a Vega64 or Vega56 yesterday on Amazon UK and this morning, thinking it may be a tad lower for black friday I was surprised to see it's £100 more than yesterday. Cheeky buggers.

I could probably put the box in my office, depending how noisy it is, so the cost of the electricity may not be quite so important for me...

swogerino

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Bitcoin Casino Est. 2013

Selling graphic cards is indeed a stupid thing to do but selling them in favour of buying new more powerful ones with a little bit of extra money is not stupid at all.

I think what is happening with the market right now is as the saying "becoming quiet before the storm" and I believe we will have a beautiful upside storm during middle of 2019 and up.

Topic: is it still profitable? How many rigs do the big boys still have... (Read 1307 times)