Topic: MINING STILL PROFITABLE? (Read 1292 times)

If i were you i would turn off right now cause pools usually steal 30% or more profit from the calculation, be aware of that. Bitcoin crashing is fine cause  asic companies would never lose profitability now gpu miners are losing everyday as eth price crashes.

I appreciate your honourable and continuously efforts to lower the difficulty by demotivating the miners. May the Crypto Gods be with you!


Btw: I pay 0.265USD/kWh and I'm still at 140%R.O.I. (after all exchange fees, based only on electricity costs, let's keep hardware out of that equation, lol);

But not with ETH. (Don't ask. I won't tell.)

I have still 2 to 3 weeks left before turning off the rigs. What will indeed happen for all of us at some point in the future.

Than't what smarter miners usually do, especially during times like this.

Its game over trolls, check the profitability.

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30.0&p=180.0&fee=2.0&cost=0.2&hcost=450.0&commit=Calculate

now if you electricity is $0.3 then everyday you will have to pay $0.26 to the power company. So it means, is game over trolls hehe

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30.0&p=180.0&fee=2.0&cost=0.3&hcost=450.0&commit=Calculate

Its profit has been very low. Most of the costs have been taken away by electricity. I think it is not worthwhile to conduct mining now.

I thing mining is still profitable. Because that depends what gpu you use andwhat coin you will mining. But indeed for now the price of gpu is very expensive. So my conclusion mining still profitable but not as much as the previous year. Happy mining brother / sister... 

If you where to buy a 200 MH ETH mining rig off ebay.  Current pricing is $1,800.

You would need approx 340 days or 11 months to obtain Capital Recovery. 
This assumes electric rate of 10cents.
Also assumes price & difficulty stay the same.

However, if the price of Ethereum where to increase 2x and difficulty would stay the same you could roughly reach capital recovery in 6 months.

However, in my humble opinion you could be profitable after 7 months if the crypto market expands.
Mining however, should be a long term investment and you should not be mining if you want to take daily profits.

Many people make mistakes selling their crypto early and miss out on the longterm gains.

Also if you live in the US, it would make sense to set your payouts higher to comply with tax codes.
 

Sources:
https://www.ebay.com/itm/197MH-s-7-AMD-GPU-6-x-RX480-1-x-RX470-Ethereum-Mining-Rig-No-Reserve/152951331198?ssPageName=STRK%3AMEBIDX%3AIT&_trksid=p2055119.m1438.l2649

Whattomine:
http://whattomine.com/coins?utf8=✓&adapt_q_280x=0&adapt_q_380=0&adapt_q_fury=0&adapt_q_470=0&adapt_q_480=7&adapt_480=true&adapt_q_570=0&adapt_q_580=0&adapt_q_vega56=0&adapt_q_vega64=12&adapt_q_750Ti=0&adapt_q_1050Ti=0&adapt_q_10606=0&adapt_q_1070=0&adapt_1070=true&adapt_q_1070Ti=0&adapt_q_1080=0&adapt_q_1080Ti=0ð=true&factor%5Beth_hr%5D=206.5&factor%5Beth_p%5D=945.0&grof=true&factor%5Bgro_hr%5D=126.0&factor%5Bgro_p%5D=910.0&x11gf=true&factor%5Bx11g_hr%5D=46.9&factor%5Bx11g_p%5D=980.0&cn=true&factor%5Bcn_hr%5D=5110.0&factor%5Bcn_p%5D=770.0&eq=true&factor%5Beq_hr%5D=2030.0&factor%5Beq_p%5D=840.0&lre=true&factor%5Blrev2_hr%5D=34300.0&factor%5Blrev2_p%5D=910.0&ns=true&factor%5Bns_hr%5D=5740.0&factor%5Bns_p%5D=1050.0&lbry=true&factor%5Blbry_hr%5D=665.0&factor%5Blbry_p%5D=980.0&bk14=true&factor%5Bbk14_hr%5D=9800.0&factor%5Bbk14_p%5D=1050.0&pas=true&factor%5Bpas_hr%5D=4830.0&factor%5Bpas_p%5D=945.0&skh=true&factor%5Bskh_hr%5D=126.0&factor%5Bskh_p%5D=805.0&factor%5Bn5_hr%5D=133.0&factor%5Bn5_p%5D=805.0&factor%5Bl2z_hr%5D=420.0&factor%5Bl2z_p%5D=300.0&factor%5Bxn_hr%5D=11.2&factor%5Bxn_p%5D=840.0&factor%5Bcost%5D=0.1&sort=Profitability24&volume=0&revenue=24h&factor%5Bexchanges%5D%5B%5D=&factor%5Bexchanges%5D%5B%5D=abucoins&factor%5Bexchanges%5D%5B%5D=bitfinex&factor%5Bexchanges%5D%5B%5D=bittrex&factor%5Bexchanges%5D%5B%5D=cryptopia&factor%5Bexchanges%5D%5B%5D=hitbtc&factor%5Bexchanges%5D%5B%5D=poloniex&factor%5Bexchanges%5D%5B%5D=yobit&dataset=Main&commit=Calculate

Profitable, yeah! But profit decreases very fast now. Difficulty always rises, so the pay-off period of your mining rig now can take more then a year.

Moreover ETH DAG will never reach 3GB before it goes PoS. 
And will ETC still be a relevant mining coin next year? 
The other obscure ethash coins will never reach 3GB before they vanish. Word.

What about mining for a long-term, hoarding coins that looks solid and may have potential in crypto future?

I am a bit new to mining, only 4-5 months mining and I was told that mining with Windows 10 was the best option. I tried Nicehash, Claymore DualMiner and they don't work but at Winminer it works, how is that possible, what is going on, is Winminer cheating at me ?

if you do not think head, you can get very little or even constantly lose money, crypto is very fast, and here much faster you can take off or fall, be careful. as for me, mining is profitable, but you can diversify your investments, it will give more stability.

I doubt you will get a solid idea. Some people use Nicehash and suffer, others do their daily research to find coins that are profitable to mine and make NH x2-x3

Its game over trolls and all the blame on btmain and mt-gox once again hehe, everytime btc goes to 9k mt-gox open its wallet and sells its coins, crashing bitcoin again ehhe

If you asking about BTC it is not(now) but mining the other coins is profitable still! So if you want to start mining choose what coin you want to mine and do this shit!

does anyone able to give an accurate figure how much will one make after selling the coins using 8x gtx 1080ti or 8xvega64/56 in a rig/mth?

Thanks alot

[/quote]Why do you think a 1 GHz LTC miner will come out in June / July?
[/quote]

https://www.ehsminer.com/product/ehs-asic-scrypt-miner-vi/


Well......crap.  I copied that and was looking for their news update on shipping and found that in late february they cancelled all their orders and refunded everyone because they didn't meet manufacturing quotas...


https://www.ehsminer.com/2018/02/13/ehsminer-withdraws-wolf-preorders-maintains-asic-chips-development/

So...nvm on that.

Why do you think a 1 GHz LTC miner will come out in June / July?

$4200 for a 6 GPU RX570 and RX580 rig. (I bought Titanium rated PSU's vs. the G2)

$1100 for an A3 (includes a power cord and cat6 cable) 

The price difference and ROI timeline is very different.  The A3 is riskier and way louder than the l3+.  If these ASIC's die or whatever their depreciative value is way lower than the GPU rig.  I can sell everything on it and still make a profit if I had to today.

That is one benefit of a GPU rig I have found.  Re-sellability.   Kind of like buying a toyota vs. something else.  I could sell a toyota tacoma with over 150,000 miles and still get a higher ROI than say a Ford F150. 

So if you do get into mining I'd do two things.

Make a decision tree analysis and figure out your best case and worst case scenario down to difficulty rate and price.

Estimate your rig cost for a bare minimum setup.  If you want a 6 GPU or 12 GPU capability, figure out how much your rig would cost to build with 2 GPU's and then shoot for that. Get that up and going....You won't be making a lot.  Just a dollar or 2 a day after electricity...but it will be running.  Then be patient and hunt for GPU deals...on craigslist, on ebay, on facebook, on new egg, etc.  Buy them individually and just add them in.


Or just buy an ASIC and forget about it.  Know your ROI will be about 12 months with that.  Unless you get an A3, but know they can be bricked by a fork.  Or an L3+  but know you will be getting about .3-.4 LTC by december if there are no other major difficulty increases  (and keep an eye on a potential 1GHz LTC miner coming out about june or july.


Anyway.  It's risky.  Do your due diligence.  Take a week and gather data, run scenarios and allocate percentages.  So when the price drops you can just hang on or cut your loss. 

J

DAG won't reach 3gb until a year from now, if you are unable to mine then you're getting screwed by your OS (win 10 i'm guessing?) There is no reason not to use win 7 or linux on a 1060 rig.

Also DAG size is unrelated to difficulty.