How come profitability is this low now? Ever since the "crash" in bitcoin price, altcoin mining has been very unprofitable. Is there a simple explanation for this that i cannot figure out? Ive been thinking about it alot but cannot get my head around it.
Hmmm, let's see...everyone and their brother, sister, mother and father are mining now, so difficulty goes up and up at the same time asset prices go down. That's pretty simple math really. BTW, expect it to get worse. Much much worse. Until all the fast cash johnny come lately's get flushed off the game board, there will be further pain. 
Topic: Mining earnings are terrible, I'm shutting down for a while (Read 3468 times)
How come profitability is this low now? Ever since the "crash" in bitcoin price, altcoin mining has been very unprofitable. Is there a simple explanation for this that i cannot figure out? Ive been thinking about it alot but cannot get my head around it.
you are doing it wrong.
How come profitability is this low now? Ever since the "crash" in bitcoin price, altcoin mining has been very unprofitable. Is there a simple explanation for this that i cannot figure out? Ive been thinking about it alot but cannot get my head around it.
Honestly, mining profitability has been very good for the past couple months. Even at the lowest dip from like 2 weeks ago, profitability was overall very good.
Right now my 6x 1060 rig is generating close to $9 a day. At one point it was down below $5 but that was a couple months ago. Yeah it will take some time to pay off any new rigs but its absolutely stupid to shut down the rigs you already posses unless you are paying like 50 cents kwh.
Right now my 6x 1060 rig is generating close to $9 a day. At one point it was down below $5 but that was a couple months ago. Yeah it will take some time to pay off any new rigs but its absolutely stupid to shut down the rigs you already posses unless you are paying like 50 cents kwh.
Started mining in August, held then sold in December and paid off both my rigs, all the electricity and have a bit left in the tank!
And electricity is spenny over here in the UK!
And electricity is spenny over here in the UK!
you just need to mine the right stuff, for example ipbc first day with the good 10k blocks 
my effort for 23h mining = ~23k coins = ~1500$@current rate
my effort for 23h mining = ~23k coins = ~1500$@current rate
My 1080ti, 2x 1080 and 1070 made 12 euro during the last 24 hours.
12 euros.. That's almost next to nothing when substracting the power and transaction costs.
I'm shutting down my miner for a few weeks. Is anyone else taking these drastic measurements, or am I the only one?
I must confess that I don't believe BTC will go up again soon... (sorry to the believers here, no disrespect intended).
12 euros.. That's almost next to nothing when substracting the power and transaction costs.
I'm shutting down my miner for a few weeks. Is anyone else taking these drastic measurements, or am I the only one?
I must confess that I don't believe BTC will go up again soon... (sorry to the believers here, no disrespect intended).
Did you shut down for a while? If you didn't, did you sell your coins cheap? I guess my point is, look how fast things change! If you kept mining, and held your coins until now, you would have made just as much money as if the coins had never dropped in the first place.
I started mining a few weeks ago.. Earnings are up, but still not as good as I'd wish. Let us hope BTC will keep going up....
sad that bitcoin has to have an over inflated price of over $17,000 for mining to be profitable
this is the true price of many coins
It is profitable at a much higher rate than that. I am still making a few hundred a month at .127 after electric costs. I have no plan to stop mining even if it ends up break even or a littler loss. I have been holding for a long time since paying off all my rigs. I will patiently mine and hold till other give up and prices begin to rise again.
Mining is still profitable even with avg power cost ~0.15$ kwh
Quote from: treanski link=topic=2854657.msg30226617#msg30226617
oh man you are hero member, if that account isnt bought you should have some experience how crypto works.I can assure you it is not bought. I used to own a faucet and stuff loooooong time ago...
I used to be positive like you, but now I am not. When I started mining I made 3 euro a day with just 1 GPU. For me it has never been this bad.
The world has changed, that's why I think BTC won't rise that much anymore. It's not a bad thing -crypto will never die, but for me it is not making me enough money anymore. Good thing is I have a few GPUs for when I buy my Oculus.
after bitcoin crash last year to 3k $, i barely mined my electricity costs. but i kept mining and in december i paid of all my rigs and made some nice profit...
hodl and believe
Would that be better if you just buy and hold?
Its all a question about income and the electric bill.
Check if you can outsource your rigs.
Check if you can outsource your rigs.
Hope you can still earn from this, I have actually read some of the miners said that its kinda hard for them to earn in mining at this point.
Lol.
Hope you can still earn from this, I have actually read some of the miners said that its kinda hard for them to earn in mining at this point.
My 1080ti, 2x 1080 and 1070 made 12 euro during the last 24 hours.
12 euros.. That's almost next to nothing when substracting the power and transaction costs.
I'm shutting down my miner for a few weeks. Is anyone else taking these drastic measurements, or am I the only one?
I must confess that I don't believe BTC will go up again soon... (sorry to the believers here, no disrespect intended).
12 euros.. That's almost next to nothing when substracting the power and transaction costs.
I'm shutting down my miner for a few weeks. Is anyone else taking these drastic measurements, or am I the only one?
I must confess that I don't believe BTC will go up again soon... (sorry to the believers here, no disrespect intended).
Did you shut down for a while? If you didn't, did you sell your coins cheap? I guess my point is, look how fast things change! If you kept mining, and held your coins until now, you would have made just as much money as if the coins had never dropped in the first place.
I started mining a few weeks ago.. Earnings are up, but still not as good as I'd wish. Let us hope BTC will keep going up....
My 1080ti, 2x 1080 and 1070 made 12 euro during the last 24 hours.
12 euros.. That's almost next to nothing when substracting the power and transaction costs.
I'm shutting down my miner for a few weeks. Is anyone else taking these drastic measurements, or am I the only one?
I must confess that I don't believe BTC will go up again soon... (sorry to the believers here, no disrespect intended).
12 euros.. That's almost next to nothing when substracting the power and transaction costs.
I'm shutting down my miner for a few weeks. Is anyone else taking these drastic measurements, or am I the only one?
I must confess that I don't believe BTC will go up again soon... (sorry to the believers here, no disrespect intended).
Did you shut down for a while? If you didn't, did you sell your coins cheap? I guess my point is, look how fast things change! If you kept mining, and held your coins until now, you would have made just as much money as if the coins had never dropped in the first place.
Quote from: treanski link=topic=2854657.msg30226617#msg30226617
oh man you are hero member, if that account isnt bought you should have some experience how crypto works.I can assure you it is not bought. I used to own a faucet and stuff loooooong time ago...
I used to be positive like you, but now I am not. When I started mining I made 3 euro a day with just 1 GPU. For me it has never been this bad.
The world has changed, that's why I think BTC won't rise that much anymore. It's not a bad thing -crypto will never die, but for me it is not making me enough money anymore. Good thing is I have a few GPUs for when I buy my Oculus.
after bitcoin crash last year to 3k $, i barely mined my electricity costs. but i kept mining and in december i paid of all my rigs and made some nice profit...
hodl and believe
Quote from: treanski link=topic=2854657.msg30226617#msg30226617
oh man you are hero member, if that account isnt bought you should have some experience how crypto works.I can assure you it is not bought. I used to own a faucet and stuff loooooong time ago...
I used to be positive like you, but now I am not. When I started mining I made 3 euro a day with just 1 GPU. For me it has never been this bad.
The world has changed, that's why I think BTC won't rise that much anymore. It's not a bad thing -crypto will never die, but for me it is not making me enough money anymore. Good thing is I have a few GPUs for when I buy my Oculus.
As difficulty and price fall is there in the market so your profit will be less now. Once the value of every crypto currencies back in action we will find its value grown more than any investment option in crypto investment.
Hope you do not demotivate yourself in this time. Have to wait for some months to find the profit in USD calculation still in crypto value it is profitable. Am I right buddy.
Quote from: treanski link=topic=2854657.msg30226617#msg30226617
oh man you are hero member, if that account isnt bought you should have some experience how crypto works.I can assure you it is not bought. I used to own a faucet and stuff loooooong time ago...
I used to be positive like you, but now I am not. When I started mining I made 3 euro a day with just 1 GPU. For me it has never been this bad.
The world has changed, that's why I think BTC won't rise that much anymore. It's not a bad thing -crypto will never die, but for me it is not making me enough money anymore. Good thing is I have a few GPUs for when I buy my Oculus.
I'm certainly going to keep some good gpu's for VR when I decide call it quits with gpu mining.
Great minds think alike. Is the Oculus still the best on the market atm?
Quote from: treanski link=topic=2854657.msg30226617#msg30226617
oh man you are hero member, if that account isnt bought you should have some experience how crypto works.I can assure you it is not bought. I used to own a faucet and stuff loooooong time ago...
I used to be positive like you, but now I am not. When I started mining I made 3 euro a day with just 1 GPU. For me it has never been this bad.
The world has changed, that's why I think BTC won't rise that much anymore. It's not a bad thing -crypto will never die, but for me it is not making me enough money anymore. Good thing is I have a few GPUs for when I buy my Oculus.
I'm certainly going to keep some good gpu's for VR when I decide call it quits with gpu mining.
Quote from: treanski link=topic=2854657.msg30226617#msg30226617
oh man you are hero member, if that account isnt bought you should have some experience how crypto works.I can assure you it is not bought. I used to own a faucet and stuff loooooong time ago...
I used to be positive like you, but now I am not. When I started mining I made 3 euro a day with just 1 GPU. For me it has never been this bad.
The world has changed, that's why I think BTC won't rise that much anymore. It's not a bad thing -crypto will never die, but for me it is not making me enough money anymore. Good thing is I have a few GPUs for when I buy my Oculus.
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