Viability of a (Long Term) Mining Career? - page 3.

Amph

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Quote from: Crypto Nut on June 05, 2016, 07:56:39 PM

What about the new S9 14 T/h miner and the new A4 600 M/h scrypt miners coming out very soon. Will they not make bitcoin and scrypt coin mining profitable again. The 600 M/h A4 will earn around $40 a day mining LTC you would only need 3 or 4 of them to earn a good living.

A4 Miner Performance: 600Mhs from 720W at the Wall or 850Mhs from 1020W.

That's prob $60 a day at 850 Mhs ?

you need to factor roi time, those beast usually require a 3-6 months roi time when bought at the beginning, unless you are planning to sell them fast

i can not see how they are profitable

cjmining

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Waiting for my coins to rise !!

Quote from: Charloz24 on June 05, 2016, 08:15:10 PM

Quote from: Crypto Nut on June 05, 2016, 07:56:39 PM

What about the new S9 14 T/h miner and the new A4 600 M/h scrypt miners coming out very soon. Will they not make bitcoin and scrypt coin mining profitable again. The 600 M/h A4 will earn around $40 a day mining LTC you would only need 3 or 4 of them to earn a good living.

A4 Miner Performance: 600Mhs from 720W at the Wall or 850Mhs from 1020W.

That's prob $60 a day at 850 Mhs ?

You forgot the fact that diffculty will rise with those new miner, so profitability will be much lower.

Difficulty on LTC and BTC is so high that these new miners probably won't make too much of a difference to the difficulty. Yes it will go up but don't think it will go up too much to effect the profit by any large amount. BTC halving in rewards will have more of an effect on the profitability of the S9 than the difficulty.

Charloz24

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Quote from: Crypto Nut on June 05, 2016, 07:56:39 PM

What about the new S9 14 T/h miner and the new A4 600 M/h scrypt miners coming out very soon. Will they not make bitcoin and scrypt coin mining profitable again. The 600 M/h A4 will earn around $40 a day mining LTC you would only need 3 or 4 of them to earn a good living.

A4 Miner Performance: 600Mhs from 720W at the Wall or 850Mhs from 1020W.

That's prob $60 a day at 850 Mhs ?

You forgot the fact that diffculty will rise with those new miner, so profitability will be much lower.

Crypto Nut

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Nutty about Crypto

What about the new S9 14 T/h miner and the new A4 600 M/h scrypt miners coming out very soon. Will they not make bitcoin and scrypt coin mining profitable again. The 600 M/h A4 will earn around $40 a day mining LTC you would only need 3 or 4 of them to earn a good living.

A4 Miner Performance: 600Mhs from 720W at the Wall or 850Mhs from 1020W.

That's prob $60 a day at 850 Mhs ?

adaseb

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Quote from: Charloz24 on June 05, 2016, 07:16:55 PM

Quote from: adaseb on June 05, 2016, 05:52:40 PM

Quote from: Charloz24 on June 05, 2016, 05:45:53 PM

I discovered crypto and mining in dec 2013. That was good time, a 280x gained 10$ /day, but that did not last very long. At that time I purchased 3x 280x and one 290. I turned off the mining rig in summer 2014 becauseit was not profitable anymore and sold one 280x andthe 290 (doh!). I restarted in march (eth of course) and I was out of crypto world in 2015 but I think that was talk about jackpotcoin that was profitable last year?

I did Jackpot coin mining also but that was in summer 2014. But I am pretty sure it wasn't making much more than $0.50-$0.75/day.

Ok so it look like I didn't miss the jackpot... lol Cheesy

From what I can remember the only profitable coin between Litecoin and Ethereum was Quark. I think with some Russian kernels you could of made like $5/day with a 280X but that was only for like 2-3 months back in May 2015 or so...

Charloz24

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Quote from: adaseb on June 05, 2016, 05:52:40 PM

Quote from: Charloz24 on June 05, 2016, 05:45:53 PM

I discovered crypto and mining in dec 2013. That was good time, a 280x gained 10$ /day, but that did not last very long. At that time I purchased 3x 280x and one 290. I turned off the mining rig in summer 2014 becauseit was not profitable anymore and sold one 280x andthe 290 (doh!). I restarted in march (eth of course) and I was out of crypto world in 2015 but I think that was talk about jackpotcoin that was profitable last year?

I did Jackpot coin mining also but that was in summer 2014. But I am pretty sure it wasn't making much more than $0.50-$0.75/day.

Ok so it look like I didn't miss the jackpot... lol Cheesy

adaseb

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Quote from: Charloz24 on June 05, 2016, 05:45:53 PM

I discovered crypto and mining in dec 2013. That was good time, a 280x gained 10$ /day, but that did not last very long. At that time I purchased 3x 280x and one 290. I turned off the mining rig in summer 2014 becauseit was not profitable anymore and sold one 280x andthe 290 (doh!). I restarted in march (eth of course) and I was out of crypto world in 2015 but I think that was talk about jackpotcoin that was profitable last year?

I did Jackpot coin mining also but that was in summer 2014. But I am pretty sure it wasn't making much more than $0.50-$0.75/day.

Charloz24

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Activity: 966

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I discovered crypto and mining in dec 2013. That was good time, a 280x gained 10$ /day, but that did not last very long. At that time I purchased 3x 280x and one 290. I turned off the mining rig in summer 2014 becauseit was not profitable anymore and sold one 280x andthe 290 (doh!). I restarted in march (eth of course) and I was out of crypto world in 2015 but I think that was talk about jackpotcoin that was profitable last year?

adaseb

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Quote from: QuintLeo on June 05, 2016, 02:00:57 AM

Litecoin has been profitable with some ASIC if you bought them at the right time - the early Gridseed stuff was so overpriced it may have never made ROI, but once the blades got down to $800 they were able to achieve ROI if you had fairly low cost electric. A2/Titan/Alcheminers were profitable if you got them early enough but late enough you didn't pay $8000+ for them.

For GPU mining, X11 was profitable 'till fairly shortly after that first ASIC for it showed up, if youre electric wasn't high and you had an efficient mining setup - that covers well into the timeframe when Ethereum BECAME significantly profitable.

I'm sure there were other options I'm not aware of.

From what I remember. I don't think X11 was ever that profitable. I remember having like a R9 280X GPUs back then and I think I made like $1 per day.

And then I think in August 2014 It was down to $0.50/per day/ per 280x. I don't think it was ever profitable if you had to pay for electricity.

Back then an Antminer S1 made good money and was fairly affordable.

QuintLeo

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Litecoin has been profitable with some ASIC if you bought them at the right time - the early Gridseed stuff was so overpriced it may have never made ROI, but once the blades got down to $800 they were able to achieve ROI if you had fairly low cost electric. A2/Titan/Alcheminers were profitable if you got them early enough but late enough you didn't pay $8000+ for them.

For GPU mining, X11 was profitable 'till fairly shortly after that first ASIC for it showed up, if youre electric wasn't high and you had an efficient mining setup - that covers well into the timeframe when Ethereum BECAME significantly profitable.

I'm sure there were other options I'm not aware of.

sp_

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Team Black developer

2014 was the end of the litecoin Klondike.

Namsbreh

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Quote from: sanas on June 04, 2016, 03:57:36 AM

Quote from: Amph on June 04, 2016, 03:13:05 AM

Quote from: QuintLeo on June 04, 2016, 02:28:42 AM

Can't count on new profitable coins either - there MIGHT be some such, but the openings for viable altcoins are growing fewer and fewer as more and more altcoins have swamped the coinspace.

funny because before ethereum was pumped they were saying the same thing i suppose, that there was no future for mining in alt anymore and nothing was profitable

then boom ethereum pumped and everything changed again

the true is that one never know what will happen, my rig will always be ready for the next big thing no matter what

Before the Etheruem pump, there is very little profit to be made with the GPU mining for about 2 years.

What a load of rubbish! I started mining in 2014 and have always found something worth mining. ETH is just a nice bonus!!!

Amph

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Quote from: sanas on June 04, 2016, 03:57:36 AM

Quote from: Amph on June 04, 2016, 03:13:05 AM

Quote from: QuintLeo on June 04, 2016, 02:28:42 AM

Can't count on new profitable coins either - there MIGHT be some such, but the openings for viable altcoins are growing fewer and fewer as more and more altcoins have swamped the coinspace.

funny because before ethereum was pumped they were saying the same thing i suppose, that there was no future for mining in alt anymore and nothing was profitable

then boom ethereum pumped and everything changed again

the true is that one never know what will happen, my rig will always be ready for the next big thing no matter what

Before the Etheruem pump, there is very little profit to be made with the GPU mining for about 2 years.

you didn't understand what i said in that post, i know that there was no profit(after the end of summer 2014 until early 2016 or so) but then boom, the pump happened and everything turned profitable

how you can be so sure that this will not happen again with a new coin in 1-2 years? you can not

p.s. there was no profit in that long time frame, only because bitcoin was dumped hard and because of that the sentiment was very bad in the crypto world, now we are in a different time frame, completely different, bitcoin is increasing strongly

this will bring new fresh money in the crypto scene

adaseb

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Quote from: sanas on June 04, 2016, 03:57:36 AM

Quote from: Amph on June 04, 2016, 03:13:05 AM

Quote from: QuintLeo on June 04, 2016, 02:28:42 AM

Can't count on new profitable coins either - there MIGHT be some such, but the openings for viable altcoins are growing fewer and fewer as more and more altcoins have swamped the coinspace.

funny because before ethereum was pumped they were saying the same thing i suppose, that there was no future for mining in alt anymore and nothing was profitable

then boom ethereum pumped and everything changed again

the true is that one never know what will happen, my rig will always be ready for the next big thing no matter what

Before the Etheruem pump, there is very little profit to be made with the GPU mining for about 2 years.

Yeah I keep saying this to everybody but for some reason nobody believes me and thinks for their benefit there will always be a profitable coin out.

sanas

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Quote from: Amph on June 04, 2016, 03:13:05 AM

Quote from: QuintLeo on June 04, 2016, 02:28:42 AM

Can't count on new profitable coins either - there MIGHT be some such, but the openings for viable altcoins are growing fewer and fewer as more and more altcoins have swamped the coinspace.

funny because before ethereum was pumped they were saying the same thing i suppose, that there was no future for mining in alt anymore and nothing was profitable

then boom ethereum pumped and everything changed again

the true is that one never know what will happen, my rig will always be ready for the next big thing no matter what

Before the Etheruem pump, there is very little profit to be made with the GPU mining for about 2 years.

Amph

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Quote from: QuintLeo on June 04, 2016, 02:28:42 AM

Can't count on new profitable coins either - there MIGHT be some such, but the openings for viable altcoins are growing fewer and fewer as more and more altcoins have swamped the coinspace.

funny because before ethereum was pumped they were saying the same thing i suppose, that there was no future for mining in alt anymore and nothing was profitable

then boom ethereum pumped and everything changed again

the true is that one never know what will happen, my rig will always be ready for the next big thing no matter what

QuintLeo

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Litecoin was profitable on GPUs for more like a year at least, unless your electric rate was VERY high.

Ethereum looks like it might last that long - depends mostly on how many folks jump into it and how much they bring with them vs. price rise.

On the other hand, counting on Ethereum mining to make a living for more than a few months, perhaps a year at most, is a fools choice.
Get the short-term profits, certainly - but long-term is ZERO probability.

Can't count on new profitable coins either - there MIGHT be some such, but the openings for viable altcoins are growing fewer and fewer as more and more altcoins have swamped the coinspace.

Amph

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Quote from: Darwin84 on June 03, 2016, 03:45:25 PM

Quote from: Psipherious on June 03, 2016, 12:59:44 PM

If I can make $1 per day off of each GPU card (profit after electricity and other expenses), then 90 cards make me 90 a day which is 2700 a month which is pretty close to my goal. 90 cards = 15, 6 card rigs probably running in the range of 1200 - 1400W per mo each.

Not really because there are extra costs as you increase. Cooling, space, internet requirements and I'm not even talking about the legal stuff like licensing,taxes, insurance. The cheap mining model works at home on free internet and up to a few GPU's. You've obviously never mined if you don't know this. After one rig you have to start cooling. After two rigs you have to move out of the room. At 90 GPU you have to move out of the house. AC, noise suppression, fanning, racking, power upgrades to draw that kind of power. Ever think about a fire ?

You also missed the whole chapter on difficulty. If you can't grasp the aboveyou will never understand that.

If you project 2700 a month at today's difficulty expect to be paid on $2400 tops because difficulty isn't going to stop when you come online with 90gpu. Next month $1700-$2000. Next month $1500. But your bills stay the same, in 3 months you can't make rent. To keep up with 2700 you have to add another 10-15 GPU each month.

this assuming that no other profitable coin come out, and he can not make the big profit with it like it happened with etehruem

which is a bit stupid to assume, telling the past here, also it is known that when bitcoin will skyrocket you will automatically have 2x profit or 3x profit or more

not to mention that when bitcoin skyrocket the new influx of fresh money will be huge, this will also reflect to many other big alt

arielbit

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Quote from: Darwin84 on June 03, 2016, 03:30:41 PM

Quote from: arielbit on June 02, 2016, 06:18:03 PM

@Darwin84

500$ a month for parking? from where i live there is no parking fee around here, there is insurance that cost 6 to 11 $ a month, a computer is already a toy, i don't get why people want to play with gadgets, i have a 24 inch monitor and a lot of GPUs to use for gaming. a used motherboard for my mining rigs costs 28$ max, for bike injury you just need an alcohol and terramycin.

That's downtown Toronto. $300-$600 a month, depends on security and covered or not and that's just work, you need another $100 or so to park at home.

Great so you have a life of GPUs and gaming in a deadbeat farming town and you fix yourself with alcohol.

That's a waste of life to most people.

I'm not judging but don't pass this off as advice. You'll be on the streets of a big city soon enough when you're first major life upset happens that you can't fix with $500.

Good luck

i'm in a city, in a province..if you read up thread i said i can do 300-350$ "happily" ... the minimum wage here is ~175$ LOL ..i'm fine with 500$ Grin

my location is a comfortable one, i'm even planning to buy a piece of property around here with my savings, 3 malls are in a biking/walking distance, a 4th one is being made, two hospitals are walking distance and a 5 minute commute to the city square.

a metropolis provides higher wages because of higher standard of living..here is a sweet blend of provincial and city living

Darwin84

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Quote from: Psipherious on June 03, 2016, 12:59:44 PM

If I can make $1 per day off of each GPU card (profit after electricity and other expenses), then 90 cards make me 90 a day which is 2700 a month which is pretty close to my goal. 90 cards = 15, 6 card rigs probably running in the range of 1200 - 1400W per mo each.

Not really because there are extra costs as you increase. Cooling, space, internet requirements and I'm not even talking about the legal stuff like licensing,taxes, insurance. The cheap mining model works at home on free internet and up to a few GPU's. You've obviously never mined if you don't know this. After one rig you have to start cooling. After two rigs you have to move out of the room. At 90 GPU you have to move out of the house. AC, noise suppression, fanning, racking, power upgrades to draw that kind of power. Ever think about a fire ?

You also missed the whole chapter on difficulty. If you can't grasp the aboveyou will never understand that.

If you project 2700 a month at today's difficulty expect to be paid on $2400 tops because difficulty isn't going to stop when you come online with 90gpu. Next month $1700-$2000. Next month $1500. But your bills stay the same, in 3 months you can't make rent. To keep up with 2700 you have to add another 10-15 GPU each month.

Topic: Viability of a (Long Term) Mining Career? - page 3. (Read 7179 times)