Topic: MiNinG iS DeAd (Read 2092 times)

Agree ive been mined a lot of ´´ shitcoins´´ due the diff bottom , now i sold a few of them at a good price

Yes, you are right.
10 month for ASICs and 16 for GPUs are a bit on the optimistic side,  I agree with that. 10 month for ASICs is with new and efficient units, OCTOMINER will have some big news coming out soon related to ASICs.
And big mining farms get pretty decent discounts usually for their hardware, have to factor this in also. Usual orders sizes are between 300-3000 OCTOMINER 8GPU rigs + GPUs for them, so around 2400-24000 GPUs. The ASIC orders can even go over 10 000 units per order for bigger mining farms in USA and Canada. We work directly with all the hardware manufacturers so we can get great deals that help optimise our clients ROI time.

Indeed the truth is in the middle. 10 month for ASICs and 16 for GPUs are too optimistic times. The probability of decreasing Bitcoin price to 4000$ is still significant. It could be because of the news of government prohibitions or disagreement in crypto community.
I would calculate the mining investment return about 2 years (with new hardware, with used hardware it could be less by two times)

This is actually not true. We(OCTOMINER) work together with multiple big 1MW+, 10MW+ mining farms around the world and it all comes down to electricity price right now. Yes, profits are less than before but mining is till profitable.

Most of our big clients pay around 4-5 cents per KW/H for electricity and their current ROI calculations are around 10 months for ASIC and around 16 months for GPU at the current crypto prices. Once the bull run starts, these times will shorten and big investors realise this. We have first hand knowledge in this, since we supply mining hardware to some of the bigger mining farms in USA and Canada.

Right now there is a big wave of Antminer S9 replacing going on. New and more efficient SHA-256 miners are being launched and the big mining farms are currently replacing their S9's in the mass. They need to do this to stay profitable. Bitmain shipped around 3 million Antminer S9 units last year. We are working with the mining farms to get the S9 units replaced with newer and more efficient ASICs .

op here

my daily cost for my farm (16x 1080ti, 16x 1060) doesnt change, i pay rougly 7.7c/kwh (10.x including other charges)

i make between 0.1 to 0.13 eth per day. the lower eth crashes, the more i get

then from eth, im all in on a certain token that i think will be worth much more

fuck the ASIC supporters who ruined mining for the short term gains

Maybe it's so. But some experience also could be got from the thread. Several people talk about their situation in GPU mining and so on. I for example knew some interesting actual info and also after reading the topic I consider an idea about the comparison of profit of traditional trading and crypto trading at the same initial conditions. So the closing is premature

This thread should just be locked. The OP hasn't replied since his original post which started this topic and it's basically saying the same stuff over and over again.

We all know that mining now is not as profitable as before and there really are no secret coins out there which generate more profit than others.

man we should have gone into the selling the shovel biz instead of the gold rush...

learning some sound crypto tips and behind the scene stuff at this blog - https://www.altcoinsidekick.com/blog

which I'd recommend as a good source of knowledge

Like any other business mining is profitable for those got in early and didn't pay insane prices for gpus and have low electricity cost.  My 60 1070s and 30 470s from early 2017  are still making a profit after I pay electricity and my gpus payed from themselves long ago.  I never paid inflated prices for my gpus or ASICs and my electricity is $ .049 KWH.

Do not pay attention to idiots who are saying mining is profitable, it requires you 5 seconds to see with your own eyes the truth, mining is dead at moment.

https://whattomine.com/coins

If you really starting mining during July then there is no way that you hit any soft of ROI what-so-ever .

30$ now is something lose to 65 * AMD rx570. such a set up requires some good amount of money spend on mobos,ssds,rams,psu,cables,cords,extensions etc,,

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as if for mining dead ? is the earth flat?

So you are saying that you still get profit from mining with your cpus anf gpus? Then you really have a wiser strategies on how you can maximize you earnings from mining.

bingo , hold hold

Thats a poor strategy.

In traditional gold mining people were mining for gold just to pay off their equipment and shovels after all said and done.  The people selling equipment made the most.  And those that held onto their gold and never sold any ended up 10X their money after many years of hodling.

Same principles with crypto.  If your selling to cover electric then u got weak hands and deserve pigeon profits.

You should be paying electric with your day job money to offload your filthy fiat,  and wait till the bull market to return then sell some. I would not sell any coins in a bear market at the bottom.

Keep it simple

Mine low, sell high. 

It's not a bad strategy, depending on your longtime goal. Do you want to earn money now or do you want to built a portfolio over time with well chosen coins. Can be combined as well. For example dedicate a single rig to direct money earning (ProfitSwitching + AutoExchange to BTC) to compensate for all electricity costs with least amount of maintainance and use another rig to mine coins of choice directly.

That way you have the easy payout (you can cash out from BTC everywhere to pay electricity) while still building a portfolio exactly the way you want it. In our case (0.14ct/kwh) a single 6x1070Ti rig can compensate the electricity bill for at least 2 rigs (min 100% profit on electricity cost over the last months. so every $ we pay in electricity is 2$ earning, leaving us with 1$ profit) - it's scalable, and those auto-rigs run on autopilot with our software, we just collect BTC from them, exchange to fiat and pay electricity.

Just an idea, if you have several rigs and like to investigate coins and build portfolio

Thank you Raja_MBZ for this link. Yes i actually sell my Monero from mining on Krakken and use bank transfer to compensate electricity cost. I hold a small part in differents coins and cash out when price is not so bad to buy new GPU/rig parts. Is it good or not good strategy?
My electricty cost is 0.09 kWh in the day 0.07 kWh in the night

I'd recommend you to have a look at the table provided by CoinTelegraph.com on this page:

https://cointelegraph.com/ethereum-for-beginners/how-to-sell-ethereum-guide-for-beginners

BTW, what's your electricity cost (per kWh)?

Sorry for my bad english guys, but i want to try to give my point of view about this topic 

I started mining in beginning of 2018, and of course i'm little bit disapoint of actual situation. But, if i look deeper i win every month around 5% of my initial investissement. To win 5% of one investissement (when you are "normal" people like me), you have basically 2 differents ways:

- Bank placement
- Real estate investissement

With bank placement, you will have money blocked (and will not receive % every day/month) and will be part in one system that i don't like it so much 
With real estate you will need big investissement and will have a lot of obligations (rent it, taxes, assurances, long time credit...)

With mining i feel more free and yes it's also one hobby in the same time, because it's fun to make rigs and to setup it, and i have fun to be in forums and try to make it more powerfull.
And finally it's good way for "normal people" like me to have a chance to grow up, i buy one GPU (or another part of rig) each month, and step by step... we will see 

To finish, it can be usefull if somebody makes one Guide about "how to sell altcoins". I tried several differents (Raven, Bytecoin, GoByte, etc...). But was not successfull when i tried to sell it on exchanges. So maybe there are something i don't understand good on this part of business 
Thank you and sorry again for my poor english

Sometime the profitability of mining is not as well as mining calculator assumption. So we need to put an effort into choosing the right coin to get more profits. But it doesn't mean when we hashing the big coin like Eth or Xmr, it can't be worth anymore. Because mining is not only hashrate, difficulty and power consumption at all. 

When we talk about profitability, the decision that we make like how long to hodl the coin and the price target to selling those coin, it will influence the profit that we can reach.

Just like our friend did below. It's a good working, how mining should be run.

Winter is coming... Time to turn on my expensive heaters LOL