Topic: Mining Profitable these days? (Read 692 times)

I think making the mining rig to be used as an investment is not to be the day-to-day income, for example, your mining Ethereum when the price is still 0.03 BTC and you hold your mining results until now I think it is profitable 0.04btc per 1 ETH

You`re not getting the meaning of that "Nope" obviously lol
And the whole calculus and wall of text...
Well, we are all miners (most) here and what we are especially butthurt about is a hashrate increase. So, any new guy popping up with "is mining profitable" is triggering the response. Also i believe that ppl are already fed up with newbros. But, we were all newbros once, so i feel for this guy. OT, mining can be very profitable, if you know what you are mining (hence the here domesticated phrase "only if you know what you are doing"), and if you don`t expect roi in 3 months. So, do some research (that way you`ll have to blame just yourself for failing, or feel like a boss for winning), not all profitable coins are on What to mine.

I would love to hear your (and other's) opinion about why mining is not profitable, and what you are doing that makes it not profitable.

Let's look at the portion of my farm mining ZEC--of which I have 14 GPUs.

It costs an average of $5.79 per day to run all of them for 24 hours. In the last month I mined 4.18 ZEC. ZEC is currently trading right around $500 on Bittrexx (which is much lower than it was trading yesterday actually).

This means I've spent about $175 in electricity and have $2,090 in ZEC as a result. All in all, depending on fluctuations in BTC (the underlying currency that everything trades against), these 14 GPUs average a daily profit of $50-$85--consistently hovering in the $70s.

Mining can be extremely profitable if you know what you're doing, manage your farm correctly, make sure the pool you're with is getting you what the calculators say your setup should earn, and are adjusting/monitoring everything on a daily basis.

I've been mining various neoscrypt coins lately and then just sell/exchange those for ETH/XMR etc

Well its basically triple the profitability from exactly 1 year ago.

I assumed it wouldn't be a profitable year 2017 but I was wrong.

Mostly because ETH promised POS to start in 2017 but they are way off schedule.

Mining is still profitable bro. Don't mine in bitcoin, for sure you will just be wasting your time. Mine altcoins, there are many altcoins that have potentials in the market and do allow mining in them.

Nope

GPU's don't come equipped with odometers.

But you burn it whith mining ^^

You don't lose your hardware if mining temporarily or permanently becomes unprofitable.

Yeah, mining is profitable again, but always be careful, things can change in just few days, dont invest what you are not prepared to loose.
1070 is one of the best cards in the market, go mine Equihash coins and you will be fine.

Go find a coin that's minable with low hardware requirement. e.g. you can mine monero in a pool with your CPU. Or try BTX with a state of the art GPU. Like others said before, make a quick check at https://whattomine.com and compare.

Lol ... You're nuts dude.

It's not necessary now to beaten the beat, and not the etherium. We need to look for new crypto coins, which are fairly easy to mine now. In the hope that later they will increase in price.

Yesterday I talked with the person who is engaged in mining. He bought equipment for 3000 drolars. A month receives about 0.6 ethereum. I do not know whether this is profitable or not ....

thanks for the information mate its very helpful

  amazing  reading for you here

They are trash mining cards, expensive to buy, expensive to mine with most power costs, let alone in Australia.

everytime same Q

Buying hardware to mine (with the exception of asic's) is always safer due to the secondary market.  There is no secondary market for asic hardware.

The big altcoin or the second biggest as far as extracting goes.  I mean ... The second in line has 10% lower extraction fees from rondevu point to base, compared to the huge dick in the room.  Can't give it all away to the noobs, so you'll have to decrypt ... Lol.

I am still getting a lot of profit with Etherum because the price of Etherum is rising a lot while the difficulty remains. Etherum miners are earning high profits every day. You might consider switching to the big altcoin to conduct the extraction to get bigger profits.

I can't see mining not being profitable for a long while yet.  People want coins but also the convenience of buying them, which is hard enough for the average new user in crypto.  Unless everything suddenly turns into POS, mining is safe for a good while yet.

May I know your PC specs? and what coin are you mine?

My gaming pc, not my rigs is making ~10$ a day on average before taking out the 1.6$ electricity

Mining in Australia where electricity is pretty expensive
Using 1080ti and they roi well, and are profitable enough for me

mining is profitable  with electricity charges are cheap and by buying good mining hardware which uses less power consumption. i have seen on the bitcointalk mentioning that normal desktop pc's does not generate any income , need to by special hardware for that like ASIC ,if it is generating more hash rates and electricity charges are less and then there is chance to make some income on crypto currencies.

hi,

if you want more profit better take the specs more up again.

For those disciplined to hold, sure it has been profitable. Remember though we have had previous corrections in the crypto markets and this market should/will correct also. Just a matter of when.

Profits are about timing really. If you did not hold then it matters when you bought and when you sold. Six months from now this market may look incredibly overvalued or very undervalued. Nobody knows for sure.

I mine with 2 HD radeon 7850s that I bought specifically for LTC mining in late 13 or early 14. Mined with them for 8 months or so and had to sell of my equipment. In that time Litecoin ran up then tumbled. I sold some along the way and held the rest. Luckily I forgot about the LTC I held and still have it. Those same two HD 7850s are now mining Monero. They spent 2 years in my son's gaming computer after ending their LTC career.

The coins I sold helped pay for the small GPU farm I ran at the time of ~30 7850s plus associated PSUs and MB/CPU/RAM/HDD. When I calculated at the time I was -$600 after everything was said and done but still had the coins I did not sell. Those coins are now worth mid 5 figures if I sold for fiat. The combined sold coins with what I still hold today would have crossed into 6 figures. I also sent 200 BTC in the early days to order my wife flowers. Held them for about 20-30 minutes from the buy to the send. You can do that math if you like.

If you had bought near the high and watched the coins tumbled then you likely sold locking in that loss. If the majority of people were HODLers then we would get stories everyday of cryptocoin millionaires.

Mining to HODL can never be "profitable" if your basis of profitability is based on fiat currency. If you have not sold then you have never profited and HODLers cannot claim profits they have no locked in. Selling the coins make them not HODLers.

Before asking if mining is profitable, first define what your goal to mining is. If your goal is to sell for profit to pay for equipment then yes, today, mining is profitable. Tomorrow may be a different story. If your goal is to buy coins to catch the wave up because you feel the coins will always rise in value, first realize they will not always rise in value and second just buy coins as a price you are comfortable with. If your goal is to mine and sell then do not pay retail or retail+ for cards. Buy cards at the beginning of the cycle to get the most mining time from them. Vegas and the new Nvidia line will be mining for the next 2-3 years if you stick with it and move to newer coins as difficulty increases. Over that time they will pay for themselves many times over. If you never sell coins though then they will never "profit".

How different are the voltas going to be from the vegas? Last time I checked the vegas were a bust but maybe some people have modified the drivers to get better results?

To the OP i must agree with the others its better to just buy and hold at the moment, in my opinion its subsequent to change though. It just seems like there is so much money coming into crypto that investing in a rig doesnt make sense.

I would only do it if you are interested in the process and the building of it. But chances are you will make quicker roi by just buying and holding.

I will say that I build a rig with 6 1070s in July, its almost paid off at this point. Good luck

Mining is profitable if you holding coins then you have been building your portfolio for months or years and have paid off your rigs and are accumulating more coins at zero cost.  Sure you could invest and make more but you could also lose money you are investing.  Once your rig is paid off you are not risking anything extra at that point which lowers risk.

Mining is and has been profitable for the entire year of 2017.

Some people have done awesome buying / holding... but I, among others, are more comfortable mining.

For me... mining profits are still what I would consider extremely good even now.

Like i said before, mining is pointless, holders have always been the winners, eth used to cost $0.20, 2 years ago and look now, btc used to cost $200 2 years ago and look now. Profit of holders was 2000 times greater than most miners. The only miners who profit big were the ones that held the coins.

And the way things are, we will see another huge jump in prices. btc $25k, eth $3k.

NOt at all, hard to obtain parts and to optimize to get a revenue which gets exponentially harder, mining is for already settled people and some lucky individuals in some countries

Well my math works like this, right now eth is $820, so 200% means $820 + $820 + $820 = $2460.

About nvidia, the titan v 12nm is volta and cost $3000 and is available right now and it can mine eth at 82 mhs, which means, expect lower versions to get speeds like 50 to 70 mhs.

I guess nvidia changed something concerning mining, nvidia wants to be competitive x amd about mining, reason why the titan v 12nm is doing 82 mhs.

Right now a six card RX 570 4GB Rig is netting you 0.75 ETH a month for ~$50 in power costs, so hell ya it's profitable.

https://www.coinwarz.com/calculators/ethereum-mining-calculator/?h=174&p=600.00&pc=0.10&pf=3.00&d=1783144999706940&r=3.00000000&er=0.04338100&btcer=20528.35000000&hc=2000.00

200%?  You mean 800% don't you?  We all see it ... Those Voltas are going to be bought up by China and you'll have to pay 300USD in fees every month to China just to mine.  It's getting crazy out there.  

It would be better to mine coal right now.

Honestly though ... Nothing that NVIDIA will ever put out will be as good as AMD.  NVIDIA is more for the gamer, not the miner. 

Mining is pointless right now cause volta is just 2 or 3 months away and volta will blow everything away, plus compared to holding mining is not as much as profitable cause few months ago if you bought eth or zec then now it increased almost 200% and mining would give you just 10% plus all the trouble. The only winners right now is holders, miners and sellers are losers.

Buy eth and hold and enjoy profit doing nothing cause i think eth will jump to $2100 soon, that will be an easy 200% profit.

Mining altcoins is still profitable, but mining bitcoins I think will do no good to you. Try to choose altcoins that you think has a btight future ahead.

Will bitcoin be worth double in the future? If you answer yes then yes mining is amazingly profitable. Most rigs payoff in one year without any luck or changes.

If you ask this question 2-3 months ago, I'm not sure. But now, it's really profitable. Take a look at whattomine.com, then calculate the ROI by yourself, please make sure you set the difficulty a bit higher.

It depends on your location. In some countries, electricity is fairly cheap which would allow you to maximize your capital on your mining equipment.

Its profitable but don't forget ROI.

Expensive rigs take time to pay for themselves.

reading the answers about not profitable mining and about whattomine i need to laugh.....

i have 4 rigs and this day mining is huge profitable even paying electricity!!!!!!

whattomine guess 90% what you will get.

Honestly, every mining calculator that I've ever used has been on the low end when predicting profitability, but that's just my experience thus far.  Probably because everything has just been going up these days.  Numbers change, if XMR drops 25% tomorrow, the number you calculate in profitability tonight isn't accurate tomorrow.  The average is what matters.  The average for your rig.  Over a week, over two weeks, over a month.  Keep track of the stats and you'll be able to tell yourself how much money each card in your rig made per day over a period of time that you choose.

If you know your rig's energy usage stats (and you should) and know what you pay for energy (and you should), you can easily calculate that part by hand.

Yes it is I dont know what everyone says it is not.  Do you have to spend alot up front? Yes.  Do you earn it all back overnight or in a month or two? No.  The time it takes to pay off your equipment will vary but can take up to 9 months or longer.  If coin values increase or difficulty decreases like what we are experiencing currently with Nicehash gone and miners making more money then your time to ROI is less. I am currently on pace to break even in 4 months with my rig due to mining coins I believed would rise in value and they did (GRS, VTC) and mining the most profitable at the time (ZEC).  Depending on your cost of equipment and your electricity cost you can estimate your time you need to mine to become profitable.

Be serious yourself : whatmine is completely false mathematics and the revenues are all overpriced.

He's right.  It's only profitable if you pay no electricity 

Is actually it is profitable depending on the amount you have to invest in miners and if you pay no electricity

lol

Seriously, head to whattomine.com and you'll find if mining is profitable for your setup or not

nope

I just wanna ask if mining is profitable these days because I'm planning to create a rig with 5 1070... any software recommend for mining?