Topic: Mining altcoins doesn't make sense Anymore (Read 178 times)
Mining isn't for the faint heart, this is the reason why miners are expanding through quantity. And it's really a difficulty if you have a high electricity so it is better for you to trade or hold rather than continue your operation. But there are also miners that are taking the risk, they mine new coins for a month or two then hold the rewards until it goes to the market. I've read testimonies and said that it's rewarding although very risky if you mine the wrong coin.
Well, it is. Some people that mines alts with rather small amount of rigs tend to choose a new developed coins that are hyped up to make fortune there, not the one that already popular since the difficulties usally are already high.
As you said that 1.36 USD a day for altcoin mining with RTX2080Ti in my country that small amount of money will just vanish for the electricity. I'd prefer buy altcoins and stake rather than wasting time for just that small amount. If you bought that card unintentionally for mining but for other thing instead, then that's good for you. But if you expect profit from mining, well, that can't be helped.
As you said that 1.36 USD a day for altcoin mining with RTX2080Ti in my country that small amount of money will just vanish for the electricity. I'd prefer buy altcoins and stake rather than wasting time for just that small amount. If you bought that card unintentionally for mining but for other thing instead, then that's good for you. But if you expect profit from mining, well, that can't be helped.
Yes mining has become less and less profitable unless you can find some cheap power source. Most "hobby" rigs have been turned off, mostly just the pro's remaining...
I do not have expertise in mining but see your review above with $ 1.36 per day is fairly small. what I do know is that mining requires large capital so if you have large capital to buy complete equipment before mining, chances are you will also get good results. or better you close the job and look for another job that gives you good income such as trading. and if someone who is patient you can work by following a number of projects available in this forum.
Instead of wasting money on mining rigs why can't you just find a good Prove of stake coin to invest in?you won't have to worry about cost of damages rigs and cost of electricity,POS is the best
I agree I used to mine Banano and it's browser-based mining and I'm only getting 20 Banano in 12 hours of mining through my browser and that's only worth 20 cents I ended up buying $5 of Banano which is equivalent to 3 months mining it using my computer, you will save a lot if you buy it than mining it, provided that you are mining a coin with good potential in the market.
Me too im mining banano and a few weeks ago the reward was decreasing a lot and i got only some pennies from my mining rig. This is not a way to be chosen by a small miners and miners only give advantage to the major miners. POS is the future.
You need more money to buy lots of graphics card not just a single card or its even better to buy antminer s17 with this miner you can make extra thousands plus on the ROI in just a year after removing electricity cost
i am not sure how that El. Cost column is calculated, it says 1 day and the cost is $0.52! how much is your electric cost in KW/h? if that is low enough then you can make good profit but if it is medium and high then you will have a hard time at the moment.
so your only option is to wait for the altcoin pumping season to begin so that you can make big profit from the pumps not from mining itself. meaning you mine some shitcoin for small profit but don't sell, wait for when it gets pumped hard and then dump it to get the bigger profit that way.
it is a risky move but it can be more profitable too.
so your only option is to wait for the altcoin pumping season to begin so that you can make big profit from the pumps not from mining itself. meaning you mine some shitcoin for small profit but don't sell, wait for when it gets pumped hard and then dump it to get the bigger profit that way.
it is a risky move but it can be more profitable too.
You won't enjoy mining if you have only a single gpu,that's why building mining rigs costs alot,to make mining worthwhile for you get 10 of that gtx2080ti if you can and mining for two years straight will make sense,grab yourself some calculator and do some math
Making money from BTC mining is very hard now for normal users, however, altcoins still have some potential.
I agree I used to mine Banano and it's browser-based mining and I'm only getting 20 Banano in 12 hours of mining through my browser and that's only worth 20 cents I ended up buying $5 of Banano which is equivalent to 3 months mining it using my computer, you will save a lot if you buy it than mining it, provided that you are mining a coin with good potential in the market.
After several months of abandoning my mining rigs due to my cards been too old or obsolete I decide to try out the latest high end mining GPUs in the market right now and I go for GTX2080ti but I was surprised that all I can earn with this 1,245$ GPU is just 1.3$ every 24hours using mining calculator and that's the highest even if you switch to other algorithms, I've tried cryptonite,ethash,lyra2Rev
Etc
So to get my ROI will take me more than a year,how are people actually enjoying mining?because this is a huge waste of time and energy
I will rather use the card for gaming than mining,i can't say about you but for me I'm done with mining rigs.
Mining with one card? How good your hashrate is the one decide how much profits you can make and also the coin you are going to mine.Etc
So to get my ROI will take me more than a year,how are people actually enjoying mining?because this is a huge waste of time and energy
I will rather use the card for gaming than mining,i can't say about you but for me I'm done with mining rigs.I read that altcoin mining is way better than bitcoin mining si there must be a reason for saying it.
After several months of abandoning my mining rigs due to my cards been too old or obsolete I decide to try out the latest high end mining GPUs in the market right now and I go for GTX2080ti but I was surprised that all I can earn with this 1,245$ GPU is just 1.3$ every 24hours using mining calculator and that's the highest even if you switch to other algorithms, I've tried cryptonite,ethash,lyra2Rev
Etc
So to get my ROI will take me more than a year,how are people actually enjoying mining?because this is a huge waste of time and energy I will rather use the card for gaming than mining,i can't say about you but for me I'm done with mining rigs.
Etc
So to get my ROI will take me more than a year,how are people actually enjoying mining?because this is a huge waste of time and energy
I will rather use the card for gaming than mining,i can't say about you but for me I'm done with mining rigs.Jump to: