Topic: Mining profit is fading (Read 123 times)
The reason why many are worrying about crypto mining profit is because they except things to stay the same forever, many jumped into crypto mining without knowing and fully understanding the pros and cons, they just went ahead and buy graphic cards and start regretting once they earn lower rewards.
Instead of considering it mining at a profit, think of it as purchasing Bitcoin at a discount. Sure, the discount may be shrinking as adoption grows, but if you have conviction about the underlying asset it doesn’t matter. One could even make the argument that mined coins should be worth more than coins purchased from an exchange and as a result one could assume that the day will come when that discount becomes a premium, especially when you consider the big boys are mining at crazy cheap electricity rates compared to the average GPU home miner.
Right now a RTX 3080Ti now makes 2$ per day, sigh! Mining profits keep going down and down, is this because BTC loses some value during the weekend? Looking at the chart it seems there is more trouble ahead because the market isn't bullish anymore, am I the only one seeing all this right now?
This is happening from quite some time now,profits going down day by day is not a new thing in mining,I used to make like 20 dollars daily with 300 Mhsh,then it got to 16,then 12 and now near 10 or just above it.I know this will come down even more but I don't care as I continue mining because I know in the long run all cryptos will become higher in price so I save the cryptos from mining when this time will hopefully come.
Exactly this^^^
I have been mining since 2014 and i sold as i got the coins as we had financial problems back then. If i had held all the coins i've had from the beginning i would now be a multi millionaire. That is the truth
Right now a RTX 3080Ti now makes 2$ per day, sigh! Mining profits keep going down and down, is this because BTC loses some value during the weekend? Looking at the chart it seems there is more trouble ahead because the market isn't bullish anymore, am I the only one seeing all this right now?
This is happening from quite some time now,profits going down day by day is not a new thing in mining,I used to make like 20 dollars daily with 300 Mhsh,then it got to 16,then 12 and now near 10 or just above it.I know this will come down even more but I don't care as I continue mining because I know in the long run all cryptos will become higher in price so I save the cryptos from mining when this time will hopefully come.
Exactly this^^^
I have been mining since 2014 and i sold as i got the coins as we had financial problems back then. If i had held all the coins i've had from the beginning i would now be a multi millionaire. That is the truth
Right now a RTX 3080Ti now makes 2$ per day, sigh! Mining profits keep going down and down, is this because BTC loses some value during the weekend? Looking at the chart it seems there is more trouble ahead because the market isn't bullish anymore, am I the only one seeing all this right now?
This is happening from quite some time now,profits going down day by day is not a new thing in mining,I used to make like 20 dollars daily with 300 Mhsh,then it got to 16,then 12 and now near 10 or just above it.I know this will come down even more but I don't care as I continue mining because I know in the long run all cryptos will become higher in price so I save the cryptos from mining when this time will hopefully come.
Right now a RTX 3080Ti now makes 2$ per day, sigh! Mining profits keep going down and down, is this because BTC loses some value during the weekend? Looking at the chart it seems there is more trouble ahead because the market isn't bullish anymore, am I the only one seeing all this right now?
This is happening from quite some time now,profits going down day by day is not a new thing in mining,I used to make like 20 dollars daily with 300 Mhsh,then it got to 16,then 12 and now near 10 or just above it.I know this will come down even more but I don't care as I continue mining because I know in the long run all cryptos will become higher in price so I save the cryptos from mining when this time will hopefully come.
You are wrong, what are you mining that you are getting it 2$ per day on a RTX 3080Ti? That graphic card can do 58MH mining Ravencoin, that will earn you 77.61RVN per day (4$), Ravencoin and Conflux are the most profitable on 3080Ti, Conflux will earn you 3.83$ per day.
There could be other ways that you could fix this.
I think some people have given a lot to mining that they do know what is happening in the market and keep going at it because that's how they support the system. Once there are fewer miners, block rewards would be more meaningful and will make it profitable to them again. Having only one mining gear wouldn't be profitable. The best way I think is to check what is above
- Mine another coin with your gear and hope for the best
- Get more miners and have more coins to convert
- Leave mining
I think some people have given a lot to mining that they do know what is happening in the market and keep going at it because that's how they support the system. Once there are fewer miners, block rewards would be more meaningful and will make it profitable to them again. Having only one mining gear wouldn't be profitable. The best way I think is to check what is above
Right now a RTX 3080Ti now makes 2$ per day, sigh! Mining profits keep going down and down, is this because BTC loses some value during the weekend? Looking at the chart it seems there is more trouble ahead because the market isn't bullish anymore, am I the only one seeing all this right now?
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