Topic: Money to invest in mining (Read 329 times)

I have to admit the hardware does make me geek out, but unless there was not a investment in mining, I would not be spending allot money to geek out on hardware, if you know what i mean !

As of right now the market is way out of balance, hardware prices are of the charts while the coin prices are way way way low. Does not make mining profitable at all. As someone said, unless you are a fan of hardware and coding, you are better of just keeping the BTC as BTC. Mining is for the geeks who loves the hardware! Not an investment.

Right now is not a good time to get into cpu mining, especially ETH.  Why not just buy ETH coins and wait for it to go up again or even rebuy Bitcoin now that it is down in price.  Video cards and ram are way overpriced right now.  Even motherboards are overpriced. 

Another option would be to wait for Bitmain to release a new Asic miner, and make sure you order the very first batch and as many units as you can.  I think that they are going to release a Decred miner soon.

Sexcoin, Potcoin, or DYOR coin.

I sold my btc when it was at 16k ( I bought it like one year ago ) so I have some money and I would like to invest in eth mining so guys if you have any recommendations please tell me or any other better crypto to mine

I don't think anyone whould be telling him where he should start thinking about selling, when we don't know where he bought in.  But yeah ... I wouldn't sell at 15K, if I bought in at 10K.  And you certainly shouldn't consider selling now, if you bought in at 18K. 

But if he acquired that 1 btc for 1K, I'm not going to tell someone that they shouldn't take a profit in fiat.  Maybe not 100%, but do what you feel comfortable with.

That is a mistake idiots always do, they mostly sell when a coin loses 40 or more %, never when is high.

If it was me, I would never sell for less than $18k.

Cheap enough ... I pay 0.10 cents usd per kwh and I'm extremely happy with what my mining farm is doing.

I wouldn't say $0.07/kWh is really that cheap

And your point is what?

Power here is only .074/Kwh Springfield ,MO USA

That really depends on what coins interest you. If you could provide a list of 10 or so coins that you are currently interested in I could help provide info about some rig options that would help you mine those coins.

Or, if there aren't any coins that interest you, if you could provide the ways you want to attack the market in mining (mining mostly new blockchains, established coins, etc) I could provide some options and due-diligence methods.

If you're unsure about both of the above options, I would recommend you follow the below steps to help figure it out:

1) Do research on what coins are mineable and their algorithms. Nvidia cards, AMD cards and CPUs all have coins that they're optimal to mine. Off the top of my head here's a few examples:

    a) Nvidia
        i) Optimal Algos: Equihash, Ethash
        ii) Coins: Ethereum, ZCash, ZenCash, ZClassic, Zero, etc
    b) AMD
        i) Optimal Algos: Cryptonight, Equihash
        ii) Coins: Ethereum, Electroneum, SumoKoin, Dero, etc
    c) CPU
        i) Optimal Algos: Cryponight, Cryptonight-Lite
        ii) Coins: Electroneum, SumoKoin, Aeon, etc

2) Once you know what you'd like to mine, do some research one the solutions per watt of each card on the algorithm. This gives you the best power density per algorithm per card.

3) Figure out what rigs to build based on the cards discovered.

4) Figure out ROI time per rig after establishing the cost basis.

Why?

If you wait 6 months your 1 Bitcoin will probably be worth $20,000 again or even more. Why sell your Bitcoin when it is down 40% off of its highs and furthermore invest this loss into high priced mining gear?

Most PC mining components are going for nearly 2x their MSRP right now, so you will further compound your losses by converting your 1 BTC into overpriced mining gear that depreciates in value over time.

Finally, for mining to even work out long-term and for you to obtain your ROI, the prices of crypto's will need to continue to climb. They need to climb just to stay ahead of the new hash-rate that is being added daily, so your mining gains are offset by everyone else competing, not to mention the threat of ASICs, your coins going down in value, or other threats.

All of this just to maybe mine enough coins in the hopes that crypto prices climb enough in next 10-12 months to get your 1 BTC back? Sure you may also have the mining equipment at the end of this time, which is now a year old, but in that same year your 1 BTC might double in value or more, while you are just basically back to break-even of your original investment, only in USD value. Since we are assuming the BTC price doubled, you would still be playing catch up in crypto terms as you would only have earned 0.5 BTC at that point, so you would actually still be down 50% in BTC.

Basically, entering into mining right now is not a good idea. You are about a month or so too late, as the time to get in was when your 1 BTC was worth nearly $20,000 and the prices of mining components were maybe only 25% inflated at that time. Now that BTC has risen and fell back to $12,000, and the mining components have doubled in value versus their previous (modest?) 25% premium, you will be getting less value for your BTC no matter how you look at it.

Hey guys I need your help,
I have 1 bitcoin that I would like to invest in mining so I would like to know what you cryptocurrency you recommend me to mine and what with what cpu or gpu.
Also I would like to tell you that where I live the price of the electricity is really cheap, 0.07$/kWh
Thanks