This is more of a hobby with the perk of making a few bucks here and there.
But that hobby can cost you a lot of money if you build a rig at wrong time. That happened many times before.
Topic: Noob here. is it still worth mining? (Read 992 times)
But that hobby can cost you a lot of money if you build a rig at wrong time. That happened many times before.
This is more of a hobby with the perk of making a few bucks here and there.
The price of Ethereum is very high at the moment. It is $4.5 now. But it might drop a lot in the near future.
If your electricity price is low, you can mine profitably on Ethereum. But if you have to buy GPU and PC system, you might not get return of investment. The Ethereum mining might last 10 more months and become PoS later.
Agreed — ETH is a/the hot commodity now, price has risen dramatically in the last month and makes it mildly profitable in the short term if you convert to fiat, but things can always go to pot quickly with any new altcoin. I do think ETH has a lot more technical legs under it than others, but others still persist and are rising too (DASH for example). To me, when you see kraken.com exchanging ETH directly to fiat already, there must be something to it.
ETH mining rental service(s?) jacked the network hash rate up over 600GH of late, but you can still mine ~.7 ETH/day on a desktop with a low-power GTX970, based on current exchange rate @ $2.50/ETH (see my summary here: https://bitcointalksearch.org/topic/m.13725983 ).
If your electricity price is low, you can mine profitably on Ethereum. But if you have to buy GPU and PC system, you might not get return of investment. The Ethereum mining might last 10 more months and become PoS later.
If you want to make a lot of money off it fast then forget about it. You can make a few pennies here and there but don't expect to get rich of this.
I do it more for a hobby. Research some coins that may interest you. See if they have potential to go somewhere in the future. You may want to invest something into it after doing your research. I look for ones that are on the extreme cheap side atm
I do it more for a hobby. Research some coins that may interest you. See if they have potential to go somewhere in the future. You may want to invest something into it after doing your research. I look for ones that are on the extreme cheap side atm
+1
Mining isn't for profit unless you've got free energy or the price of your coin(s) will increase considerably. Mining is to protect the blockchain, processing transactions. So if you're only for profit, you better use FIAT to buy coins. If you want to support the coin you like, go ahead.
If you want to make a lot of money off it fast then forget about it. You can make a few pennies here and there but don't expect to get rich of this.
I do it more for a hobby. Research some coins that may interest you. See if they have potential to go somewhere in the future. You may want to invest something into it after doing your research. I look for ones that are on the extreme cheap side atm
I do it more for a hobby. Research some coins that may interest you. See if they have potential to go somewhere in the future. You may want to invest something into it after doing your research. I look for ones that are on the extreme cheap side atm
It's worth the wait.
I there folks. I'm a complete noob when it comes to altcoins bitcoins and such but I do have some computer knowledge. I was wondering if I could start mining some altcoin, because from what i've seen it isn't worth to mine bitcoins with cpu or gpu.
So do you have any suggestions for me?
So do you have any suggestions for me?
It depends on what you mean by worth it. If all you want is to make money forget it.
But if you want to join the altcoin comunity thenby all means.
I there folks. I'm a complete noob when it comes to altcoins bitcoins and such but I do have some computer knowledge. I was wondering if I could start mining some altcoin, because from what i've seen it isn't worth to mine bitcoins with cpu or gpu.
So do you have any suggestions for me?
So do you have any suggestions for me?
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