Topic: Newbie's question about mining on 2018 [useful for other newbies] (Read 488 times)

Of course, mining needs cheap electricity. I think that in the near future mining rigs and ASICs will be not simple miner machines, but will have a double useful purpose, for example, as heaters.

Yeah , lot of "moralist FUD/chill" real smart people on this word 
Don't read my post

Cryptocurrencies are like lottery tickets that might pay off in future

Bitcoin and other Cryptocurrencies Nothing More Than a ‘Lottery Ticket’: Harvard Economist

In the history of mining there were already such periods when the profitability of mining did not exceed the cost of electricity and equipment was turned off or sold. Now we are witnessing such a period again. So now it is better not to start mining and wait for better times.

Well seems like mining won't be profitable in 2018
And for newbies they probably can't have a low cost of electricity
Just look forward to 2019!!!

Electricity is very important in blockchain technology and the technology is build around electricity and because of this if you cannot get it as cheap as you can you may not be able to make it in mining. Coins like ethereum can be mine using your phone and google app but the reality is that you make just little profits from mining it.  Ethereum is good and less cost in minining it than bitcoin but still it is capital intensive to buy most of the hardware need to mine it.

Gtx 1080 8GB is good? Overclock is secure?
Solo mining or pool? Do you personally know trustworthy mining pools?

I created a topic about ETH mining profitable 2 months ago. Its about my own experience, with the current market situation ( as of October 5th )
I did not done any calculation in the past few weeks, but my miners income are still covering my electricity bills and generating a few extra dollars a months
So read this topic :
Why its still worth mining ETH ( or other coins) for me
Mining ETH is ok for me ..
I got back already that money what i invested...
If you have to buy hardware now , well... thats a different story ...

Really ?
then sorry i misunderstand your questions  
so then its not your key questions .. i got it .. language barrier right ?
Im deeply apologize for my mistake , i really thought you are asking question about mining calculators, when you typing " mining calculators " My Bad..Sorry 

Thats for people like you ... Thats the way someone can help newbies so they "doesn't let them to lose money on risky investments "

My suggestion for you is read one of my other "funny" post, so you can see some numbers
There you can see how things changing in this crypto word within a day
Antminer E3 vs Innosilicon ETH Master (485 MH/s) updated a day later

I'm not talking about mining calculators.
You're suggesting to reinvent the wheel. And what the need for smile emojis on every phrase?
Another funny thing is your caps lock on your topic: https://bitcointalksearch.org/topic/m.42982897

You totally dont understand anything about mining calculators at all
I created that post for members like you who try to make decisions based on mining calculators
If you looking your answer in mining calculators you failed already
You have to do a very detailed market research, learn, discover the coins whitepaper, roadmap..
You must to believe in that coin what you going to mine.

Thanks for your detailed and kind response, very good for beginers to understand about it.
Sorry for entering on personal things, but which miner you use on Windows? Windows is better because of GPU drivers?
There is a coin better than Ethereum for GPU mining? Is normal that overclock causes crashes? But what is the minimum clock for those GPUs?

They are setup about as well as can be expected, overclocked for good performance but not so much so that I have frequent crashes. I've got a mix of NVidia and AMD on a few machines, running windows, pretty stable overall.

It's just that the crash of the Eth price has put the cost of getting each 0.11 Eth right at that line of energy costs. And that's after having shopped for the best energy prices available in my region. Like I said, I can run this way with no worry as long as price recovers in the mid term. If not then I'll just write off the costs as a bad investment.

So I think for newbies they absolutely need to pay attention to the total costs of running rigs and weigh if that is worth their time vs. just investing directly in Eth or whatever coins they like via fiat. I would say a good rule of thumb is to expect about 80% of the performance advertised by those mining calculator websites, due to downtime, reboots, messing with the setups/overclocking, invalid/rejected shares, your service provider having bad connection speeds from time to time, etc. Then use that number and add up the cost of your equipment, the cost of energy, and how much time you are willing/able to devote to learning and maintaining.

There are definitely fewer people mining these days, you can see that just from the GPU's that have flooded the market at a fraction of the cost they would have been a year ago. If Eth recovers all those GPU's will disappear and rise in price again though.

It's a calculated risk, and that's why it's really up to each person to weigh their own tolerance and situation.

Which GPU do you use and how many? Your rig is with good setup? GPUs are properly overclocked?

Just because mining is not profitable now doesn't mean it won't be in the future.

Or it may never be again, who knows. Point being is that you may not like xxcsu's delivery but he/she isn't far from the truth there. I'm still mining Eth but it costs me more to mine it that I make right now.

If, as I base my strategy on, Eth prices recover then all that mining I did under water will suddenly be profitable.

It's an investment. It may not work out but I'm not pegging my mining yes/no decisions on the current market but rather on the market I expect there to be in the future.

The key questions to help newbies, that doesn't let them to lose money on risky investments:

- What is the error margin of some mining calculators? What is the best ones of them and why they are created? What is the purpose of the fair mining calculators?
- What is the investment to mine Bitcoin on 2018, and about the electricity and monthly earning, and in which [ESTIMATED] months the investment could be paid taking in consideration the ASIC and the energy costs? The same about Ethereum?
- Ethereum is yet profitable with powerful GPUs of 2016/2017?
- What is the best suitable cryptocurrency to work on GPUs?

Those are really basic questions that doesn't needs replies with exacts things, but appointments instead of letting users to risky investments

I'm sure you're a moralist FUD/chill: I did a quick lookup on your post, then I readed you calling the crypto universe as "gambling", then I stopped reading.
"Gambling" is one of the first argument of chills against cryptocurrencies.

..... Just because this topic for newbies ..... let me quote myself
Original topic HERE

Market value, so it depends on the mining rig and on the coin itself

It all depends on at which price you sell the mined coins.

Personally I think Bitcoin needs near-free electric energy available and high investment. But my focus on this topic is the altcoins.

Mining Ethereum (or other more profitable criptos) now also requires very cheap electricity? Or solar/eolic energy can make it work? They need big investment?

I'll compile and credit all replies, and help other newbies about it

Thanks in advance for all your replies