Topic: Mining , still worth it? - page 21. (Read 7327 times)
If you can afford a GPU or two and wont miss that money, dive in today. Even if you don't ROI, the learning experience is worth the cost.
If you are looking for a short term profit or a regular income then no, definitely not worth it at the moment.
If you can wait for your profit and HODL established coins or are willing to put some time into finding coins which 'might' have future value then yes, worth it.
Most of our own rigs are speculative mining with the current bear market and profitability. Customer's rigs seem to be split about 50/50 between those who haven't changed from ETH etc. and those who are mining some fairly obscure or new coins. At a guess I'd say about 5% have either reduced their number of rigs or have at least considered and asked about what price they could sell them for.
Regards,
Steve
If you can wait for your profit and HODL established coins or are willing to put some time into finding coins which 'might' have future value then yes, worth it.
Most of our own rigs are speculative mining with the current bear market and profitability. Customer's rigs seem to be split about 50/50 between those who haven't changed from ETH etc. and those who are mining some fairly obscure or new coins. At a guess I'd say about 5% have either reduced their number of rigs or have at least considered and asked about what price they could sell them for.
Regards,
Steve
you better switch to GPU compared to CPU, because CPU consumes big power and its revenue is also not how, good step is to sell your CPU and replace it with GPU, this way you can make a big profit.
this is only my suggestion, if your income by way of mining on the CPU is still high then continue it, until the CPU is no longer able to read the coin coin algorithm you mine.
this is only my suggestion, if your income by way of mining on the CPU is still high then continue it, until the CPU is no longer able to read the coin coin algorithm you mine.
Interesting to me is the question of weather or not mining is still worth it, but without alot of context as to why people are mining in the first place. Because to me, either you are in it for some held beleifs or what not, or you are in it to make money as in treating it like a business. I think many miners that begin mining like the idea of making money, but have no idea how to treat it like a business. For example, for making money, asic's to me make sense, and those sense (cents...sorry couldn't resist) add up to dollars which any business needs coming in. If you are mining because of other loyal or crypto religious beliefs, then maybe it is worth it to those, but not so much to those who would like to run it as a home business, but don't know how...to those, maybe it would never be 'worth it'...I'm not saying I'm only ASIC, but I'll mine with whatever is still 'worth it'.
3 - anything you buy now, will not have resale value at all since new gpus are coming and people like new gpus, example, the last nvidia series 980.
Yes I agree.
Profitability right now isn't the greatest. Under my calculations for Equihash, it's about 25% of what it was about 2 months ago.
Hopefully when Monero forks we might get CN profitable again.
Profitability right now isn't the greatest. Under my calculations for Equihash, it's about 25% of what it was about 2 months ago.
Hopefully when Monero forks we might get CN profitable again.
im sure that aint gonna happen, asic companys now sell their useless hardware and will just switch on their updated miners when the forks happens.
if just 400mhs of the monero hashrate the last months have been bitmain/baikal you can calculate what they earned, they can effort easy to build a new asic for everys cryptonight algo change
Yes I agree.
Profitability right now isn't the greatest. Under my calculations for Equihash, it's about 25% of what it was about 2 months ago.
Hopefully when Monero forks we might get CN profitable again.
Profitability right now isn't the greatest. Under my calculations for Equihash, it's about 25% of what it was about 2 months ago.
Hopefully when Monero forks we might get CN profitable again.
i sold all my old 1 year old rx 580´s with around 50% profit/gpu...they where paid off long time, made alot profit...now i´ll wait for new gddr6 gpus
with gpus its like with asics to avoid falling further behind you need always new models...of course you can use a gpu much longer and for different coins...but after some time its the same math
with gpus its like with asics to avoid falling further behind you need always new models...of course you can use a gpu much longer and for different coins...but after some time its the same math
I think mining is still worth doing but maybe the result is not as much if doing other things, such as bounty campaign
Same boat, I used to dump my GPUs after a year or so but I always regretted it. I think its better to use them for 5 years at least , since they are paid off
I have yet to "dump" any GPU I have mined with, unless it flat out died.
If I can't mine profitably with them, there's other stuff I can do with them 'till some new coin shows up that IS profitable.
In dump i meant replace them with newer models, or sell them when profit declined , not sure why you think i meant dump literally lol
who would just trash a 300 gpu with a 3 year warranty /boggle
Same boat, I used to dump my GPUs after a year or so but I always regretted it. I think its better to use them for 5 years at least , since they are paid off
I have yet to "dump" any GPU I have mined with, unless it flat out died.
If I can't mine profitably with them, there's other stuff I can do with them 'till some new coin shows up that IS profitable.
i was making 20 cents per card last check. not gonna check again for a few days.
if you are a business mining entity, perhaps it is worth it. gone are the days mining is worth it for hobbyist. last it was fun backa t 2014/2015. 
Business ownership can be fun. Actually, if mining is your passion then I highly recommend accounting for it as a business. There is nothing better than finding your passion and making it your job. It's more like your getting paid to play instead of paid to labor.
It will be interesting to see how many new miners will be frustrated and what cheap GPUs we may see flood the market. This cycle seems to continue over the years and that's okay. Even new miners who fail now may come back stronger later and the vicious cycle of gamer/miner hatred continues.
There is a lot happening in the mining world right now and it all pretty much amounts to hyped prices. I won't be surprised to see the $12K ASICS going for $1K or less. GPUs are less predictable but it depends on how well things like threadripper and new GPU releases do.
There is a lot happening in the mining world right now and it all pretty much amounts to hyped prices. I won't be surprised to see the $12K ASICS going for $1K or less. GPUs are less predictable but it depends on how well things like threadripper and new GPU releases do.
if you are a business mining entity, perhaps it is worth it. gone are the days mining is worth it for hobbyist. last it was fun backa t 2014/2015.
In fact, if you bought cards last year, you can even sell your hardware now at breakeven or even higher prices.
want to have resale value? so buy new gpus, last year resale value will only last till new gpus are released, so if somebody has 14nm or 16nm gpus should consider sell right now before is too late.
I'm about to invest in some more hardware, so maybe helpful for me to explain my reasoning as it goes against what most people are saying;
1 - People are saying not to invest because payback period is ~12-14 months. In any normal business a payback period of 2-3 years is pretty decent
2 - People are calculating ROI based on current prices. I personally believe we are due a big run up end of the month/April which will mean the payback period is much quicker
3 - No one seems to factor in the residual value of the components. Say you spend $2k on GPUs, your ROI shouldn't be calculated on the basis of how long it takes to mine $2k (+electric). It should be based on how long it takes you to mine how much your assets have depreciated (+electric). Given the current crazy gpu market, your equipment will have a strong resale value
4 - I don't plan to mine with my GPU's; instead I contribute to science through folding@home and get paid cryptos as a side benefit. This is actually more profitable than nicehash in my experience, but even if I only break even at least I am contributing to Stanford's research into Alzheimer's/Cancer/Parkinson's etc
1 - People are saying not to invest because payback period is ~12-14 months. In any normal business a payback period of 2-3 years is pretty decent
2 - People are calculating ROI based on current prices. I personally believe we are due a big run up end of the month/April which will mean the payback period is much quicker
3 - No one seems to factor in the residual value of the components. Say you spend $2k on GPUs, your ROI shouldn't be calculated on the basis of how long it takes to mine $2k (+electric). It should be based on how long it takes you to mine how much your assets have depreciated (+electric). Given the current crazy gpu market, your equipment will have a strong resale value
4 - I don't plan to mine with my GPU's; instead I contribute to science through folding@home and get paid cryptos as a side benefit. This is actually more profitable than nicehash in my experience, but even if I only break even at least I am contributing to Stanford's research into Alzheimer's/Cancer/Parkinson's etc
Good post sir.
I completely agree with #3. What people forget to realize is that the mining hardware we have still has value. Esp. if you buy high end cards which have excellent resale value. In fact, if you bought cards last year, you can even sell your hardware now at breakeven or even higher prices.
GPUs don't "go obsolete" in 3 years, even in mining usage - the HD 7870/7950/7970 from *over 5* years ago are still effective profitable miners, and the R9 290 from about 4 years back or so is STILL one of the top Ethereum miners on hashrate (only surpassed reliably by the GTX 1070, GTX 1080ti, Titans of the Pascal generation, Titan V, matched by the R9 390/390x and SOMETIMES topped by Fury and Vega cards).
if your electric cost for a GPU rig is 1/3'd of your gross income from that rig, you have high priced electric by mining standards.
if your electric cost for a GPU rig is 1/3'd of your gross income from that rig, you have high priced electric by mining standards.
So here you are assuming or speculating that the new gpu generation will continue like before, seeing low gains x old gpus, if nvidia launches a gpu which mines eth at 80mhs and cost $400, nobody with sane mind will buy any old gpu.
I'm about to invest in some more hardware, so maybe helpful for me to explain my reasoning as it goes against what most people are saying;
1 - People are saying not to invest because payback period is ~12-14 months. In any normal business a payback period of 2-3 years is pretty decent
2 - People are calculating ROI based on current prices. I personally believe we are due a big run up end of the month/April which will mean the payback period is much quicker
3 - No one seems to factor in the residual value of the components. Say you spend $2k on GPUs, your ROI shouldn't be calculated on the basis of how long it takes to mine $2k (+electric). It should be based on how long it takes you to mine how much your assets have depreciated (+electric). Given the current crazy gpu market, your equipment will have a strong resale value
4 - I don't plan to mine with my GPU's; instead I contribute to science through folding@home and get paid cryptos as a side benefit. This is actually more profitable than nicehash in my experience, but even if I only break even at least I am contributing to Stanford's research into Alzheimer's/Cancer/Parkinson's etc
1 - People are saying not to invest because payback period is ~12-14 months. In any normal business a payback period of 2-3 years is pretty decent
2 - People are calculating ROI based on current prices. I personally believe we are due a big run up end of the month/April which will mean the payback period is much quicker
3 - No one seems to factor in the residual value of the components. Say you spend $2k on GPUs, your ROI shouldn't be calculated on the basis of how long it takes to mine $2k (+electric). It should be based on how long it takes you to mine how much your assets have depreciated (+electric). Given the current crazy gpu market, your equipment will have a strong resale value
4 - I don't plan to mine with my GPU's; instead I contribute to science through folding@home and get paid cryptos as a side benefit. This is actually more profitable than nicehash in my experience, but even if I only break even at least I am contributing to Stanford's research into Alzheimer's/Cancer/Parkinson's etc
1 - this is not a normal business. In here you lose a lot, on normal businesses you don't lose like you lose here. Also, is not 12 -14 months, right now roi is 1100 days or 3 years.
2 - you are speculating, you should not count on that.
3 - anything you buy now, will not have resale value at all since new gpus are coming and people like new gpus, example, the last nvidia series 980.
4 - that is a good thing.
It is worth it if you don't take a loan and dump all your money into it as a full time job. If you have a full time job and the cash to spend just do this as a hobby to make extra cash it is still worth it. The huge miners is what hurts the little guys anyways.
I didn't take a loan, but I moved almost 2 years ago so I could afford to make mining my "full time job".
It's been worth it and still is at this point - for me.
Your details and preferences may differ.
GPUs don't "go obsolete" in 3 years, even in mining usage - the HD 7870/7950/7970 from *over 5* years ago are still effective profitable miners, and the R9 290 from about 4 years back or so is STILL one of the top Ethereum miners on hashrate (only surpassed reliably by the GTX 1070, GTX 1080ti, Titans of the Pascal generation, Titan V, matched by the R9 390/390x and SOMETIMES topped by Fury and Vega cards).
If your electric cost for a GPU rig is 1/3'd of your gross income from that rig, you have high priced electric by mining standards.
Same boat, I used to dump my GPUs after a year or so but I always regretted it. I think its better to use them for 5 years at least , since they are paid off
at that point just mine coins or algos that use less power if you have to, and its all green. Plus any GPU that runs for 3 straight years with no issues is a keeper
I will probbaly never go bad, unless there is some physical damage to the fans. I cant count how many times I bough a new GPU and it died after a few months and I underclock and
undervolt all my gear. My good GPUs will never be sold.
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