Topic: Mining income using rig (Read 339 times)

Clean the link from your quote 

you delete his link as well  from your quote

The important thing is that the calculation is done carefully.
+ Hardware and maintenance costs
+ internet access and electricity costs
+ The right pool
+ And patiently look for coins that are still profitable
Don't forget to bookmark a good website to calculate profits.
For those who have been mining for a long time, they usually already know the trick. Regard

Sorry I have deleted the link. It's just that you will need an invite to open a wallet.
Anyways I still think that the mining is profitable compared almost any other coin

Chill dude.

Were you bump this thread just for post a Ref link?
Referral link is restricted here, dude! You should delete it!


Every miner must have the different answer. They have different electricity cost, mine on the different coin/algorithm, and many other different things. But if you ask me, I just mine with a few GPU, and I still get a bit profit after operational cost.

Depends what your definition of 'worth it's is. I'm personally only buying coins as profitability's dropped to the point that it takes more than a year to break even on a rig, and a lot can happen in that time; profitability may go up and down, who knows.

Even on cheap or free electrical costs, mining profitability is still extremely low, and buying coins is currently a better option in my eyes.

Also, something else to note: do not mine at a loss if it ever comes to that point. Mining at a loss is essentially buying coins at market price plus electrical expenses and all that, and you're throwing away money by doing so. You're better off simply buying coins in such a situation.

Figure an 8 GPU Rig with 1080 Ti will net you about $15 / day.  But it will cost about $5k to build and that is buying all your parts used via ebay.  If your electric rate is 10 cents / KWH, that will cost you $4 / day to run it in the winter, and $6 / day to run it in the summer ( AC ).  So a profit of $9 - $11, assuming you cash out frequently.  If you plan to cash out via ATM, Figure they will take 8% - 15% in fees.  So you loose a buck or so there.  So you spent $5k, and your take home after all expenses will be around $8 - $10.  So on the high side your miner will make you $3650/year.  That is a dam good return, considering the hardware hasn't depreciated too badly.  Of course with mining time is your not your friend, as that leads to more miners, ASICS and in general more competition for coins.  Meaning your hardware's profit margin is going to slowly drop over time. 

If you want to mine, the best thing to do is mine using a good Pool, that will autoexchange your earnings into BTC, then just grow your wallet and don't cash out.  Wait for BTC to go up again and then cash out when bitcoin is closer to $10k. 

If I had done what was stupid at the time and just continued to mine BTC with my GPU back in 2012, even when it was costing me more in electricity, and never cash out, I would be driving a lambo today.

If you are going to mine, do it for the long term,  going after short term gains, you are better off just buying coins.

You are so full of it youre eyes are brown!

Depends on many things, especially which coin you mine.
Right now I find MERIT (MRT) to be one of the most profitable coins to mine. Especially because it is a limited group of invited people in the network, so the distribution is fair.

Mining now is just gambling, the profits are extreme low even with cheap electricity, better to sell gpus.

If you have free electricity you can mine and daily sell.

Buying equipment for mining now is not the best investment, even if you have the most expensive electricity.
The payback for this business is very low. If you are a long time ago and have paid for the equipment, then the equipment will work as long as the mining give revenue.
In other cases, it depends on how much the investor is willing to risk and wait for the growth of the courses.

Wow, your data is not enough to answer. The profitability depends on many factors:
- Mining equipment (number of gpus etc) - energy consupmtion
- mining algorythms
- electricity costs in you country
- stability of your rig - if calculated as a long term

and yes, mining is still profitable if done smartly

btw, considering that a winter season is close it will also solve a heating issue ))

if you talking about buying a rig or asic then its asic. Mining difficulty is constantly growing and rigs are not so profitable as some time ago
but if you have some hardware for rig it needs more detailed count what will be more profitable in your case 

depends on what your hardware, what you are mining, and Electric cost in your area


Balance?

Either make it profitable and make your rig efficient then look for any profitable coin

Or trade some coins to have additional profits

or shutdown the rig

Mining using a rig for now is still worth it? in terms of electrical power, payment of electricity in a month, income entered in a month, but the price of crypto is on a downward trend, how do you balanced it with profit per month