Mining ETH is now no profit - page 5.

mak013

hero member

Activity: 2548

Merit: 769

Quote from: JeffBrad12 on May 30, 2019, 03:52:07 AM

Quote from: mak013 on May 30, 2019, 02:39:57 AM

This is trading/investment. Not everyone can trade good enough. And in mining, even if you sell mined coins right when got - you get profit. And you have an equipment that costs smth. In investment you can loose it all.

But for me that guy was true and what? depreciation of your hardware looks the same with the risk that will you get when you try to deal with trade or investment. I can say mining is the same as you are investing your money to get something that can give you monthly return and then you will get depreciation on your mining rig as the risk that you must deal when you investing your money to buy mining rig to mine crypto.

For last 3 years i changed 4 fans for GPU and made 1 selfmade cooling system. My rigs are between 1060 and 1080ti. Nowadays i can sell them at 75% from their purchase price. This is always, what you need to know about depreciation.
So, even if i`d got nothing - i lost 25% of my money. Looks like the same risk with loosing everything?
Yes, you can trade/invest. But if you`ve read post that i quoted - my answer was why someone is mining.

superstarbtc

jr. member

Activity: 378

Merit: 3

Quote from: mak013 on May 29, 2019, 03:58:00 AM

Quote from: ikicha on May 29, 2019, 03:31:43 AM

You forgot something.
Blocks reward.

1 year ago, ETH Block rewards is 4 ETH/Block.
But today, is decrease to 2 ETH/Block only.

And, 1 year ago, ETH Price is $1000, but today is only $250

But in spite of all this awful things people still mining ETH. May be they know something? Or may be they just are able to use a calculator? The last 3 years there were only about 5-6 months than all were happy. All another time someone mined and got profit and someone cried.

People who mined ETH coin when the price of ETH was 90$, are now in making some decent profit with the increase in the price of the ETH. So we should mine the coin when the market is in a downtrend which will help us to make a decent profit when they start increasing.

JeffBrad12

hero member

Activity: 2954

Merit: 533

Leading Crypto Sports Betting & Casino Platform

Quote from: mak013 on May 30, 2019, 02:39:57 AM

Quote from: rdluffy on May 29, 2019, 03:22:59 PM

A fact you guys have to consider
If you are making 0.30 USD profit per day for example. Why not sell the card and have your money to invest on coins?
You have to take to account the depreciation of the machine, but not only the GPU, but the motherboard, cpu, power supply...

This is trading/investment. Not everyone can trade good enough. And in mining, even if you sell mined coins right when got - you get profit. And you have an equipment that costs smth. In investment you can loose it all.

But for me that guy was true and what? depreciation of your hardware looks the same with the risk that will you get when you try to deal with trade or investment. I can say mining is the same as you are investing your money to get something that can give you monthly return and then you will get depreciation on your mining rig as the risk that you must deal when you investing your money to buy mining rig to mine crypto.

kronos123

sr. member

Activity: 1022

Merit: 391

The mining sector is among the most difficult ones out there in the markets, because it evolves much faster than the others, and moreover the actors in the game are often dishonest (I'm talking about card producers and asics); so there are so many variables to consider and often your reasoning and estimates are disregarded because even one of these variables is missing.

However, I always say that if you pay the current over 0.1 $ / Kw you are crazy; 0.06 / 0.1 you are unprejudiced; under 0.06 you are an investor, but you must always be alert!

mak013

hero member

Activity: 2548

Merit: 769

Quote from: rdluffy on May 29, 2019, 03:22:59 PM

A fact you guys have to consider
If you are making 0.30 USD profit per day for example. Why not sell the card and have your money to invest on coins?
You have to take to account the depreciation of the machine, but not only the GPU, but the motherboard, cpu, power supply...

This is trading/investment. Not everyone can trade good enough. And in mining, even if you sell mined coins right when got - you get profit. And you have an equipment that costs smth. In investment you can loose it all.

KryptoKai

full member

Activity: 630

Merit: 100

It's not really for people that need to sell straight away to pay for their electricity bill, more for speculators that know that mining now and hodling will generate huge rewards in future.

bitkanu

hero member

Activity: 2184

Merit: 513

Moonbet.io | Web3 Casino

Quote from: Dr.Osh on May 30, 2019, 01:08:29 AM

Quote from: rdbase on May 29, 2019, 03:10:55 PM

Even for those numbers netting $0.30 a day in profit is not really appealing for those who still mine. Embarrassed

If it were over $0.60 per day for every card and taking out the electricity costs along with it then I can see people getting into mining again.
Cause electricity companys are raising rates for those who use up alot of electricity compared to others in the same area.

competition in mining ETH has of course been very tight for now. I don't feel that new people in the mining world can compete with that. but, when eth prices rise, I think it's still quite profitable to mine ETH. however, it all depends on the quality, and the amount of GPU you have.

The rise is still uncertain whatsoever, also GPU's quality usually doesn't differ, it's the fabrication of a GPU that could bring more efficiency without giving away the power.
In the case of ETH mining that'd be a lot more profitable, even better than using it for gaming purpose, I still hope that in the future there will be a GPU that could make mining profitable again.

Dr.Osh

legendary

Activity: 2758

Merit: 1004

Buzz App - Spin wheel, farm rewards

Quote from: rdbase on May 29, 2019, 03:10:55 PM

Even for those numbers netting $0.30 a day in profit is not really appealing for those who still mine. Embarrassed

If it were over $0.60 per day for every card and taking out the electricity costs along with it then I can see people getting into mining again.
Cause electricity companys are raising rates for those who use up alot of electricity compared to others in the same area.

competition in mining ETH has of course been very tight for now. I don't feel that new people in the mining world can compete with that. but, when eth prices rise, I think it's still quite profitable to mine ETH. however, it all depends on the quality, and the amount of GPU you have.

rdluffy

legendary

Activity: 2366

Merit: 1408

Quote from: rdbase on May 29, 2019, 05:54:09 PM

Quote from: rdluffy on May 29, 2019, 03:22:59 PM

A fact you guys have to consider
If you are making 0.30 USD profit per day for example. Why not sell the card and have your money to invest on coins?
You have to take to account the depreciation of the machine, but not only the GPU, but the motherboard, cpu, power supply...

The machine themselves are usually purchased used and have no value to the miner after they have used them for months if not years and consider them throw away items. The cpu are lower processing power ones just enough to get the rig up and not needed to process anything further once it is running. The motherboards are usually cheap to find and getting one for less then $40 isnt very much and resale of it will be lower if not half. The only thing of considerable value aside from the gpu themselves are the power supplies. Because they cost over $100 for a good brand name one and they dont deteriorate as fast compared to the other parts on the mining rig.

I used to mine, I know how it works
Motherboards are not 40USD only, it's better to buy a mb with support to 6 GPUs or more, to have more energetic eficiency, if you buy random stuff you will waste electricity and will costs more in a longterm

If you are a miner with only 2 or 4 GPUs, ok, but if you have 20 or more, it's better to think before buy garbage

rdbase

legendary

Activity: 2828

Merit: 1497

Join the world-leading crypto sportsbook NOW!

Quote from: rdluffy on May 29, 2019, 03:22:59 PM

A fact you guys have to consider
If you are making 0.30 USD profit per day for example. Why not sell the card and have your money to invest on coins?
You have to take to account the depreciation of the machine, but not only the GPU, but the motherboard, cpu, power supply...

The machine themselves are usually purchased used and have no value to the miner after they have used them for months if not years and consider them throw away items. The cpu are lower processing power ones just enough to get the rig up and not needed to process anything further once it is running. The motherboards are usually cheap to find and getting one for less then $40 isnt very much and resale of it will be lower if not half. The only thing of considerable value aside from the gpu themselves are the power supplies. Because they cost over $100 for a good brand name one and they dont deteriorate as fast compared to the other parts on the mining rig.

masphie

full member

Activity: 896

Merit: 102

-= OI =-

i think after ETH hit $215 mining will profit.
but before that i think final result same as monthly cost.
or people do it that for hold ETH long term. (if ETH price increase, they will sell it).

rdluffy

legendary

Activity: 2366

Merit: 1408

A fact you guys have to consider
If you are making 0.30 USD profit per day for example. Why not sell the card and have your money to invest on coins?
You have to take to account the depreciation of the machine, but not only the GPU, but the motherboard, cpu, power supply...

rdbase

legendary

Activity: 2828

Merit: 1497

Join the world-leading crypto sportsbook NOW!

Even for those numbers netting $0.30 a day in profit is not really appealing for those who still mine. Embarrassed

If it were over $0.60 per day for every card and taking out the electricity costs along with it then I can see people getting into mining again.
Cause electricity companys are raising rates for those who use up alot of electricity compared to others in the same area.

Beyerd17

full member

Activity: 826

Merit: 103

Quote from: CjMapope on May 29, 2019, 11:15:12 AM

Quote from: jmigdlc99 on May 29, 2019, 11:02:00 AM

Based on the latest valuations (ETH @ $272) and whattomine.com, mining is again (but temporarily) profitable.

Mining with an old 1060 at $0.1 electricity cost will net you $0.3 per day, or around $9 a month. Should you invest in new mining equipment? Probably not.
At those rates you're still looking at around 16 months ROI and a lot can happen. Like they say "just buy the coin" if you want to speculate and invest.

ya im mining/collecting ETH just for PoS one day
it will likely be like DASH, a great long term passive income
IF you can drum up the coins to "deposit", midas
better then selling daily, thats just sad, like 5 cents an RX a day haha

I know what you mean. Mining would have to become more profitable for me to turn my gpu's on again. Right now it's not worth it with the heat and the noise. If ETH were to double I might get in again.

CjMapope

legendary

Activity: 1820

Merit: 1092

~Full-Time Minter since 2016~

Quote from: jmigdlc99 on May 29, 2019, 11:02:00 AM

Based on the latest valuations (ETH @ $272) and whattomine.com, mining is again (but temporarily) profitable.

Mining with an old 1060 at $0.1 electricity cost will net you $0.3 per day, or around $9 a month. Should you invest in new mining equipment? Probably not.
At those rates you're still looking at around 16 months ROI and a lot can happen. Like they say "just buy the coin" if you want to speculate and invest.

ya im mining/collecting ETH just for PoS one day
it will likely be like DASH, a great long term passive income
IF you can drum up the coins to "deposit", midas
better then selling daily, thats just sad, like 5 cents an RX a day haha

jmigdlc99

sr. member

Activity: 784

Merit: 282

Based on the latest valuations (ETH @ $272) and whattomine.com, mining is again (but temporarily) profitable.

Mining with an old 1060 at $0.1 electricity cost will net you $0.3 per day, or around $9 a month. Should you invest in new mining equipment? Probably not.
At those rates you're still looking at around 16 months ROI and a lot can happen. Like they say "just buy the coin" if you want to speculate and invest.

GhostWithin

full member

Activity: 644

Merit: 145

Quote from: Beyerd17 on May 29, 2019, 09:59:11 AM

Nah! There are a ton of teenagers living at home with their mom and dad, mining away, their parents paying for that mining electricity. Those parents would be better off just giving their children some (more) money and NOT mine ETH at a loss.

You also forget about those who use electricity almost for free or for free at all.
I dont know how things are with this in other countries, but in Russia electricity is being stolen.
In the free market there are electricity meters that are turned off / on with a remote control, various kinds of magnets, and so on.
I have few acquaintances involved in mining, but none of them pay for electricity... They will mine until it's possible to mine

snowblack

member

Activity: 262

Merit: 12

Quote from: unewbie on May 25, 2019, 07:42:44 PM

Hello everybody,
Mining ETH now seems to be no profit.
I use VGA P106-100 6GB; 6 card
150Mh/s; 750W

Why many people still are mining ETH??

If Uptrend still running. You can imagine a great future with it. Not at all miner use standalone system. They use more than one system like you.

Beyerd17

full member

Activity: 826

Merit: 103

Quote from: mak013 on May 29, 2019, 03:58:00 AM

Quote from: ikicha on May 29, 2019, 03:31:43 AM

You forgot something.
Blocks reward.

1 year ago, ETH Block rewards is 4 ETH/Block.
But today, is decrease to 2 ETH/Block only.

And, 1 year ago, ETH Price is $1000, but today is only $250

But in spite of all this awful things people still mining ETH. May be they know something? Or may be they just are able to use a calculator? The last 3 years there were only about 5-6 months than all were happy. All another time someone mined and got profit and someone cried.

Nah! There are a ton of teenagers living at home with their mom and dad, mining away, their parents paying for that mining electricity. Those parents would be better off just giving their children some (more) money and NOT mine ETH at a loss.

Nestade

jr. member

Activity: 41

Merit: 793

inactive

Quote from: kingcolex on May 25, 2019, 10:33:31 PM

It's definitely profitable and all depends on your power cost, that and Eth is a coin people are speculating on.

However I would say, that speculative mining doesn't make any sense at all if you are mining at a loss.
So in my opinion instead of mining with a loss it makes much more sense just directly buying the ETH for cheaper from an exchange instead.
If you're getting electricity for cheap it should be quite profitable to mine. I guess the block reward reduction also decreased the profitability of mining ETH.

Topic: Mining ETH is now no profit - page 5. (Read 2213 times)