Is mining profitable for you? I will be compiling answers for an article.

Amph

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Quote from: ranlo on May 19, 2014, 02:29:07 PM

Quote from: Amph on May 19, 2014, 01:57:46 PM

mining at launch is always more profitable it doesn't matter if you pay or not the electricity, also

no need to worry about your vga if it break or not or stuff like that
no need to worry about temp, you mine 5 min and wait the next launch
profit remain al least on par with the MH/s per day compare to 24/7 mining

no competition, 24/7 is a thing of the past

There have been a lot of coin launches that proved to be worthless, too. Not to mention you're having to keep running random clients that may or may not be viruses. That's a risk.

i know, there are some downsides to this, but VM is your friend and worthless coin can be spotted with some knowledge

ranlo

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Activity: 1988

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Quote from: Amph on May 19, 2014, 01:57:46 PM

mining at launch is always more profitable it doesn't matter if you pay or not the electricity, also

no need to worry about your vga if it break or not or stuff like that
no need to worry about temp, you mine 5 min and wait the next launch
profit remain al least on par with the MH/s per day compare to 24/7 mining

no competition, 24/7 is a thing of the past

There have been a lot of coin launches that proved to be worthless, too. Not to mention you're having to keep running random clients that may or may not be viruses. That's a risk.

Amph

legendary

Activity: 3248

Merit: 1070

mining at launch is always more profitable it doesn't matter if you pay or not the electricity, also

no need to worry about your vga if it break or not or stuff like that
no need to worry about temp, you mine 5 min and wait the next launch
profit remain al least on par with the MH/s per day compare to 24/7 mining

no competition, 24/7 is a thing of the past

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: Omikifuse on May 19, 2014, 08:22:10 AM

Quote from: alani123 on May 18, 2014, 08:58:50 PM

To me, mining 24/7 is over. It's been this way ever since profitability started going down the drain. I was actively mining scrypt coins, usualy through the few multipools of the time (mainly middlecoin). I was so hyped when I realised I could earn a full mBit a day or even more on good days. This was when Bitcoin's price was at it's all time hights. I would let my computer mine for weeks non stop and I was even thinking to invest some of my savings into a mining rig. But then bad news started pushing bitcoin's price down and there was a huge decline in altcoin prices. I stoped mining. It wasn't until DOGE. Thankfully, I saw all the attention it was receiving in this forum and started mining early. It did pay out eventually! Since then I only selectively mine newly released coins as a hobby.

You could still mine x11 for now. The profitability isn't really good but at least your cost is half, better then losing money every month paying bills right?

The cost may be half, but you are only earning half as well. When it comes down to it, if you calculate the difference between mining X11 and Scrypt, you'll find that Scrypt is still more profitable (though for most people it's going to result in a net loss regardless).

saafon

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Sometimes script coins is profitable production, especially when the coin only started

gpuminer

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Merit: 100

Quote from: popolite11 on May 19, 2014, 08:36:37 AM

Stopped mining , sold few rigs . Now I only have 2 rigs which I use for instamining .

Sell all your rigs. If u want instamining , rent some rig. U can get gh for a couple of hours.

popolite11

sr. member

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Stopped mining , sold few rigs . Now I only have 2 rigs which I use for instamining .

Omikifuse

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Merit: 1009

Quote from: alani123 on May 18, 2014, 08:58:50 PM

To me, mining 24/7 is over. It's been this way ever since profitability started going down the drain. I was actively mining scrypt coins, usualy through the few multipools of the time (mainly middlecoin). I was so hyped when I realised I could earn a full mBit a day or even more on good days. This was when Bitcoin's price was at it's all time hights. I would let my computer mine for weeks non stop and I was even thinking to invest some of my savings into a mining rig. But then bad news started pushing bitcoin's price down and there was a huge decline in altcoin prices. I stoped mining. It wasn't until DOGE. Thankfully, I saw all the attention it was receiving in this forum and started mining early. It did pay out eventually! Since then I only selectively mine newly released coins as a hobby.

You could still mine x11 for now. The profitability isn't really good but at least your cost is half, better then losing money every month paying bills right?

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: alani123 on May 18, 2014, 08:58:50 PM

To me, mining 24/7 is over. It's been this way ever since profitability started going down the drain. I was actively mining scrypt coins, usualy through the few multipools of the time (mainly middlecoin). I was so hyped when I realised I could earn a full mBit a day or even more on good days. This was when Bitcoin's price was at it's all time hights. I would let my computer mine for weeks non stop and I was even thinking to invest some of my savings into a mining rig. But then bad news started pushing bitcoin's price down and there was a huge decline in altcoin prices. I stoped mining. It wasn't until DOGE. Thankfully, I saw all the attention it was receiving in this forum and started mining early. It did pay out eventually! Since then I only selectively mine newly released coins as a hobby.

That's pretty much the only way (other than for those who get ASICs early) to break even or win on mining now: by speculating on whether coins are going to go up or down in value. Past that, due to the price of Bitcoin it's not really worth it (unless you, again, are speculating that Bitcoin's price will rise).

alani123

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Leading Crypto Sports Betting & Casino Platform

To me, mining 24/7 is over. It's been this way ever since profitability started going down the drain. I was actively mining scrypt coins, usualy through the few multipools of the time (mainly middlecoin). I was so hyped when I realised I could earn a full mBit a day or even more on good days. This was when Bitcoin's price was at it's all time hights. I would let my computer mine for weeks non stop and I was even thinking to invest some of my savings into a mining rig. But then bad news started pushing bitcoin's price down and there was a huge decline in altcoin prices. I stoped mining. It wasn't until DOGE. Thankfully, I saw all the attention it was receiving in this forum and started mining early. It did pay out eventually! Since then I only selectively mine newly released coins as a hobby.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: judgecrypto on May 18, 2014, 04:11:02 PM

Is mining profitable for you? I will be compiling answers for an article.

Please send feedback to my site with the following format:

Example...
Nickname: Judge Crypto
Coin(s) : Dogecoin (DOGE)
Comment : I still mine for fun but it is no longer profitable.

*** Even if your coin is PoS, do you mine your coin through a multipool?

Feedback site:
http://www.judgecrypto.com/contact.html

Judge Crypto
http://www.judgecrypto.com

The answer for me is "no." The price of mining is getting to the point where it is no longer profitable without an ASIC. Even coins like X11 are rewarding so little (in BTC value) that they aren't worth pursuing anymore.

SpeedDemon13

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As far as AMD cards go, XPM and X11 mining of SYNC/Trademybit Multipool. Nvidia 750ti for wattage/hash efficiency, especially with X11.

judgecrypto

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Is mining profitable for you? I will be compiling answers for an article.

Please send feedback to my site with the following format:

Example...
Nickname: Judge Crypto
Coin(s) : Dogecoin (DOGE)
Comment : I still mine for fun but it is no longer profitable.

*** Even if your coin is PoS, do you mine your coin through a multipool?

Feedback site:
http://www.judgecrypto.com/contact.html

Judge Crypto
http://www.judgecrypto.com

Topic: Is mining profitable for you? I will be compiling answers for an article. (Read 770 times)