Topic: Mining , still worth it? - page 3. (Read 7308 times)

Also you mine for tomorrow, not for today.

I have mined up so much btcz, I will be a millionaire if it hits 50 cents. And mathematically it could be worth $1000 for a 1:1 with btc supply. Also the best privacy coin.

So if you are mining, don't sell it. A few years from now you will be very happy. 

Whoow,GPU regains its profitability for a couple of weeks now

hard to let them go these days since they are doing greatly on there job

No, Im not gonna sell them yet

In Slovakia we have electricity cost around 0.14 € per kWh so its not that much I guess

yes, mining is still profitable, but if you use gpu, please just sell it.

what is your average cost for electricity? I'm really wondering if in Europe we still have countries where electricity is cheap enough. In my case, electricity costs around 0.3€ (network cost included). I used to mine by using my extra output from solar panel but now I have used up this extra output and I'm waiting until my meter goes back to where it was.

Doesnt make sense to mine certain mainstream coins. Niche new coins may be worth it.


If u had just bought btc at 5k to 6k plus 2 months back, at current prices 9k+ , u would have gotten more than 50% profit easily.
If u had bought bitcoin machines to mine instead, u would have gotten about 14-18% return, basis a 11-15 month breakeven.

If u had bought btc instead, u have more than 150%, in which u can easily use 100% to buy machines and have 50% change lol.
Thats far higher than the 14-18% the miners got. And the miners u just bought have 2 months more warranty.
In general, the returns for the last 1 year plus have been such that it is just better to hold btc over machines and I believe that trend will continue. Difficulty just rises too much and there is an overwhelming and senseless interest in mining. Too much money going after too little profits really.


Future Scenarios:
If bitcoin price drops by 50-60%, all miners become toasters and u cant sell them. Bitcoin holders can still sell.
If bitcoin price drops 90%, holders can still sell for 10% of value. Miners get nothing for doorstops.
If bitcoin price goes up, well bitcoin holders make more than mining. Thats been the case and so far, should continue to be the case. Problem is just that difficulty rising alot and most miners dont do a comparison between holding and mining bitcoin.


And yes, now, mining looks more attractive now due to a recent price spike but the new machines will come and breakeven will go back to 11-15months again, which makes it not worth it.



It is only good to buy a machine like the antminer A3 which managed to break even in first 2months. Niche machines with high risk. If forks dont occur, u are good. Long term breakeven machine arent worth it these days.

If you're curious, it's out now... Someone else dropped the secret...

https://bitcointalksearch.org/topic/diy-fpga-mining-rig-for-any-algorithm-with-fast-roi-3459858

You couldnot except you mean some dozen monthes. Believe me

yes, with free electricity, the mining is worth either way. but also with very low costs, it can be worthwhile and you can reach roi in some months.

I'll agree with everyone here and say if you have free electric, mine!

i would say it depends on the electricity price, if mining is worthwhile. the lower the electricity price is, the sooner the mining is worthwhile

if the price of electricity is low enough, even the purchase of not quite up-to-date gpus or asic miner is worthwhile.

It is when you already have mining equipment on hand and ready to work. It could happen that even highly overpriced GPUs could mine themselves to profit, when altcoin market keeps rising, with relatively short time.

But yes, shortly put, mining is worth it.

The worst moment to buy new equipment was about a month ago, when prices didn't decrease yet amd mining profits were close to none. Now it's improving again

Yes, just worth for the ones who already have the rigs
Now it's the worst moment to buy gear

Noboby knows the future (ETH POS, Asics, new Nvidia Cards etc)

Thanks to rising alts again mining is indeed profitable. It's worth it but getting in the whole mining game when paying a stupidly high price for GPUs is still a big no-no.

I don't know which GPUs you have, but for me (with RX570) there are more profitable coins than ETH at the moment. Of course things can change in a just few hours.

I think mining can be said to be worth it, because as long as the miners can still produce the coin from the fouchet that they have mine they can replace all assumptions as long as they mine, it just mines it takes patience to achieve comparability

You sound like my friend.  He's pissed because he actually has to lift a finger and learn something, do research, ect.  He thought it would be a get rich quick scheme like you did. 

Because I don't like shilling random shit coins for profit.

I have to undervolt and underclock to make it profitable. So it is not worth it.