Topic: Terrible Mining Mistakes - page 2. (Read 417 times)
There is no way to avoid electricity bills unless you are stealing electricity somehow and I'm sure you will get caught one day, if the electricity bill is high in your country it's better to sell your graphic cards right now because their price goes down in few months more, leave mining to those that have cheaper bills.
If you mine in a private house, then the main mistake of the miner is the incorrect calculation of electricity costs.
Mining golden rule: "99% of your expenses are spent on electricity, and it must be cheap." In 2018, even good IT engineers sold video cards at a big loss.
Mining golden rule: "99% of your expenses are spent on electricity, and it must be cheap." In 2018, even good IT engineers sold video cards at a big loss.
Yes this is a big problem. Many people in germany began mining last year and don´t look at the real electricity usage. They calculate after what hiveos says for example and after they gets their electricity bill in january for the last year - they must sold all rigs absolutly overpriced to cover the bill
And for me, i calculate with only 80% of the calculated mining rewards.
If you mine in a private house, then the main mistake of the miner is the incorrect calculation of electricity costs.
Mining golden rule: "99% of your expenses are spent on electricity, and it must be cheap." In 2018, even good IT engineers sold video cards at a big loss. The second most stupid mistake is to buy video cards several times more expensive than the manufacturer's recommended price.
Mining golden rule: "99% of your expenses are spent on electricity, and it must be cheap." In 2018, even good IT engineers sold video cards at a big loss. The second most stupid mistake is to buy video cards several times more expensive than the manufacturer's recommended price.
If you are planning to buy GPU right now don't do it, wait till June gets here first and see what's going on but if you have bought yours let's say 6-7months ago then you already make your ROI and very close to it so whatever you decide to do won't hurt, I advice to keep mining if you get your ROI back already.
Buying GPU right now could be the most terrible mistake anyone can make, it's safer to just use the money to buy coins instead of building a rig, I built a few rigs myself already but that's because I'm in this for a long term.
Correct. If ETH merges to PoS in June as planned, those who bought video cards for 2x MSRP will be the bag holders. Miners who buy lots of equipment below MSRP will win in the end, even if another gold rush takes 2 years. I am a long-term miner, too, but I don't like buying GPUs at today's prices.
Buying GPU right now could be the most terrible mistake anyone can make, it's safer to just use the money to buy coins instead of building a rig, I built a few rigs myself already but that's because I'm in this for a long term.
Most mistakes that every new crypto miner makes
1. Ignored the power consumption of the system itself, ( CPU, RAM, MOBO).
2. Also when using multiple PSU's you have to calculate the 80% individually e.g 1000w PSU aim for 800watt only.
3. Buying GPU's for a certain aim for example aiming for 1 ETH and forgetting that network difficulty changes all the time.
4. Not doing some calculations on your power consumption bill.
1. Ignored the power consumption of the system itself, ( CPU, RAM, MOBO).
2. Also when using multiple PSU's you have to calculate the 80% individually e.g 1000w PSU aim for 800watt only.
3. Buying GPU's for a certain aim for example aiming for 1 ETH and forgetting that network difficulty changes all the time.
4. Not doing some calculations on your power consumption bill.
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