Topic: Mining , still worth it? - page 11. (Read 7308 times)

The only answer - it's not a time to start  mining. It's obviously.
Here we discussed  another  question. It is  worth still. Means you already bought a farm and thinking is it worth to continue or not.
Question is much more complicated and the common answer - yep it's hard but still possible. If ya have cheap or better free electricity and a lot of free time.

It really depends on many factors. Which coin are you mining, with what are you mining if use a toaster or rigs and so on.
Personally I like to mine cheap coins that have a good project behind them to make some good return.

I guess it depends on what coins do we mine. I tend to recommend that we also learn about the prospects of the coins first, since the mining is consume high cost on electrical, hardwares, and times.

Mine FedoraCoin (TIPS) over at MineFedora.com

Super LOW difficulty and you can trade TIPS/DOGE then DOGE/LTC or DOGE/BTC or whatever...

They are trying to revive FedoraCoin, so it has huge upside.  They just released new roadmaps and website and wallet ect...:

https://www.tipsco.in/

But Vitalik has not said he will allow more than 100 million coins. This is what he said like 1 year ago, and afaik he hasn't changed his mind, so....believe or not, it's possible to happen. At any time Vitalik can announce it.

Do you know simple maths? just go to this page https://etherscan.io/stat/supply

See a 24hours period and get the amount of coins generated per day. Multiply and........you'll see it by your own. 100 million coins as said to Vitalik will apply PoS

My argument is clear, is valid, and it's possible. Do you actually have an argument to say that what i say is not gonna happen?? Or the gtfo looney toons is actually you?

It is always a good thing to consider what the cost of electricity is in your region before you set out to purchase mining hardware.I personally use old or fairly-used hardware to build my rig in an attempt to bring the cost to a minimum.I usually don't sell my coins immediately.this worked perfectly for me when I mined ETH.Do the maths before you start, it is easy to mine at a loss. To me,it is still ok.

I'm not putting too much faith on these 2 months to pos. I think it will take much longer. They can however do like monero will do, change the algo a bit. The question is if this change of algo will help with it.

2 months?  😂😂😂 gtfo looney toons

This thing is really bad, asics are ruining eth and every other coin, if it was not for asics, eth would have been around $3500 right now.


The way things are, it does not look it will stop yet cause this asic fear is affecting the whole market, also good point you made saying about taxes and other things, people clearly have no idea when they say a coin is profitable cause they do not write every thing down. They are blind by the lack of understanding as to when a coin is really profitable.

let's be clear about this.

Today, losses are increasing. Do you think any investor is willing to put money into a market that is collapsing??? Think it twice before answering.

That said, ETH PoS is just 2 months from now. Vitalik has repetedly said he will apply PoS once he gets 100 million coins. That will happen very very soon.

Now, what do you think it's going to happen with all those enormous numbers of GPU's mining ETH at the moment? well....if you are not a moron you may know that people will switch to any profitable coin on the market. As there is not a reference like ETH, people will try any coins, increasing enormously the difficulty of the coin, so almost any coin with profit will see increasing their difficulty. If prices continue like this, i can assure you no coin will be profitable once all those ETH cards begin mining other things.

Moreover you have to consider also a point. As it happens to ETH (which is better on AMD cards), many algos benefit NVIDIA, so if you try MONERO, you will have to overclock your card (unless you want to get less coins), but that will also increase your power consumption. Moreover if at that point you have to put two 8pin connections on your cards like in Sapphire RX 570 and 580 nitro+, which implies making deep changes on your configuration.
overclocking will increase your electricity bill, so at current prices, I think Monero and all coins on cryptonight will be a no go for AMD cards.

That's not considering taxes that governments want to apply. Not considering regulations and laws that would imply other big changes for you.

at the actual point, ETH is not profitable. maybe you can find right now some coins profitable. But once ETH goes PoS, bye bye , because all those alt coins with see their difficulty so increased that will not be profitable at all.

The only solution for ETH PoS and all of you not "main stream miners" is that some coin gets the place of ETH. If that doesn't occur......welll......you know what will happen.

Gone to a spooky loss with 4 1080 ti, the only question that bothers me is whether to keep them at q4 2019 or sell now while they have 70% of the value

Yeah you are so right about this, but it takes time to research what you should mine if you really want to get a faster ROI.

I can ROI in 8-9 months right now even if I sold my mined crypto right away. I don't have to do that due to my personal situation so sometimes, even in a bear market, you can ROI fairly fast. You really just have to think outside of the box and mine other things than what is on whattomine. If you see it there so does everyone else.

As I have not tried to calculate the profitability of farms. Payback less than a year did not work in any way. I think this year you should not even think about mining. Unless outbid somebody farm (they should be cheap) and leave it until 2019.

Some comments pisses me off. If you can't hold coins and you sell them right away then don't say that mining is not worth it. That is your current problem. Back in a day, you could get 10 Ethereums per day with one card. Some guys sold it right away for 0.3$ per Ethereum and they are bitching even today how it's not profitable, after so many years and so many same mistakes. Personally, for me, even the talk about electricity is not relevant, because the earnings for me are very good even now and I don't take today's price in my calculations. But I understand the new guys that need to pay electricity, it gets heavy when the bill comes their way. For God's sake, if you have comfort take a profit from one mining rig and put it away for one year or better do a research and find a new coin, get it in the low difficulty just once if nothing. And ask here what you need. There are so many guys here that want to help. I now that you can't believe that one rig can bring you even a million dollars, but can you believe it once in crypto and try it yourself. Little faith won't kill you.

I agree. The issue here is always with the capital. If you will be using so much capital only to get a descent or a break even return, then why would you even bother? Many people, specifically those who have already been in the mining department for quite a while now, that mining has been more difficult in the recent years compared to when the cryptocurrency is in the climbing stages. One reason for that is it's harder now since most of the mineable coins are reaching or at least getting closer to the ceiling of their market caps. So the time and energy you spend in mining only yields you less, which is why many people engaged in mining have recently switched to other ventures.

This all day.  You have to get creative sometimes if you are wanting to turn a higher profit.  I mine some scrypt coin for profit with L3.   I can make 10-20 bucks a day doing something like TIPS/DOGE then DOGE/LTC . 

I just cashed in 3 million to get 60 bucks doing that exact scenario as above.  Electric cost was less than 5 dollars for 24 hours.

It all depends on who you are and how you are doing things... I don't sell a single coin that I mine and I can afford to pay the electricity out of pocket. Buying ccrypto directly is far riskier than buying equipment that has value and worst comes to worst you can recoup some costs by selling the equipment.