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Topic: Wanting to start to mine for profit.. (Read 1840 times)

sr. member
Activity: 840
Merit: 252
December 27, 2016, 09:41:38 AM
#23
you can currently profit with 30 cent so i can't see how 12 would not be great to start a mining farm, a small one, i think up to 0.15 it's safe to invest in mining without big risk

so go ahead and build your little farm

Just because you can profit currently does not mean you will ever ROI. The whole point is to have enough profit margin to overcome risk (ie price drops/difficulty rise). Currently thats nearly impossible with current levels of ZEC/ETH unless you paying around 5 cents/kw TOTAL bill cost. With BTC/LTC mining your a bit better off since those markets are a LOT more stable.

they keep saying that but what i see is that the altcoin scene was always profitable since 2013, the only big downtime for peopl with expensive electricity was end 2014, and a bit 2015, but aside form that it was always profitable for everyone

with gpu rig you have virtually no risk, if everything go wrong very fast after your investment you just sell your gpu again for 80% retail or more, if everything go wrong after a year or more, you have already reached roi....so you are safe either way

in any case the big resale value will save your ass

It depends on the electricity price. If you pay 0.25 dollar per kWh, then it is not profitble for most coins.

Yeah your right. You should first how much you will earn of profit by the end of the month because if you are a negative then its not nice to mine that coin because it is not profitable in yours. Just find exact coin to mine that you will earn profit and it can pay your bills by the end of the month

For the ZEC mining, it is negative for the old cards.
hero member
Activity: 798
Merit: 505
December 18, 2016, 04:30:52 AM
#22
you can currently profit with 30 cent so i can't see how 12 would not be great to start a mining farm, a small one, i think up to 0.15 it's safe to invest in mining without big risk

so go ahead and build your little farm

Just because you can profit currently does not mean you will ever ROI. The whole point is to have enough profit margin to overcome risk (ie price drops/difficulty rise). Currently thats nearly impossible with current levels of ZEC/ETH unless you paying around 5 cents/kw TOTAL bill cost. With BTC/LTC mining your a bit better off since those markets are a LOT more stable.

they keep saying that but what i see is that the altcoin scene was always profitable since 2013, the only big downtime for peopl with expensive electricity was end 2014, and a bit 2015, but aside form that it was always profitable for everyone

with gpu rig you have virtually no risk, if everything go wrong very fast after your investment you just sell your gpu again for 80% retail or more, if everything go wrong after a year or more, you have already reached roi....so you are safe either way

in any case the big resale value will save your ass

It depends on the electricity price. If you pay 0.25 dollar per kWh, then it is not profitble for most coins.

Yeah your right. You should first how much you will earn of profit by the end of the month because if you are a negative then its not nice to mine that coin because it is not profitable in yours. Just find exact coin to mine that you will earn profit and it can pay your bills by the end of the month
sr. member
Activity: 1078
Merit: 255
December 18, 2016, 04:19:47 AM
#21
Hi there budy!

If you still haven't bought miner i wouldn't buy that old 110Mh/S (probably innosilicon A2) scypt miner with your eelctricity price. Best bet would be either newer A4 or one of Bitminers miners S9 or R4 (if noise is a problem.) Also i would advise buying against GPU rig for now. It might look nice and fine now with Eth regaining some and Zcash still giving profit. But it will change soon when Vega is realeased, somewhen between Jaunary and March. Dificulty will go up and profits down.

sr. member
Activity: 840
Merit: 252
December 14, 2016, 11:00:19 AM
#20
you can currently profit with 30 cent so i can't see how 12 would not be great to start a mining farm, a small one, i think up to 0.15 it's safe to invest in mining without big risk

so go ahead and build your little farm

Just because you can profit currently does not mean you will ever ROI. The whole point is to have enough profit margin to overcome risk (ie price drops/difficulty rise). Currently thats nearly impossible with current levels of ZEC/ETH unless you paying around 5 cents/kw TOTAL bill cost. With BTC/LTC mining your a bit better off since those markets are a LOT more stable.

they keep saying that but what i see is that the altcoin scene was always profitable since 2013, the only big downtime for peopl with expensive electricity was end 2014, and a bit 2015, but aside form that it was always profitable for everyone

with gpu rig you have virtually no risk, if everything go wrong very fast after your investment you just sell your gpu again for 80% retail or more, if everything go wrong after a year or more, you have already reached roi....so you are safe either way

in any case the big resale value will save your ass

It depends on the electricity price. If you pay 0.25 dollar per kWh, then it is not profitble for most coins.
hero member
Activity: 653
Merit: 500
December 14, 2016, 10:18:29 AM
#19
Do you have any knowing on Dash coin? If you have interest, take a look on this miner: www.baikalminer.com

Six algorithm, tiny size,  and seems very quiet, make no noise mining. I have read several reviews that for this stuff.

As you also take this investment for an hobby, you can try it, and if you don't mind, post your studys and ideas here...  Smiley Smiley

Stop spamming that around, please ban him
member
Activity: 78
Merit: 10
December 14, 2016, 09:06:01 AM
#18
Do you have any knowing on Dash coin? If you have interest, take a look on this miner: www.baikalminer.com

Six algorithm, tiny size,  and seems very quiet, make no noise mining. I have read several reviews that for this stuff.

As you also take this investment for an hobby, you can try it, and if you don't mind, post your studys and ideas here...  Smiley Smiley
legendary
Activity: 3248
Merit: 1070
December 14, 2016, 06:18:04 AM
#17
you can currently profit with 30 cent so i can't see how 12 would not be great to start a mining farm, a small one, i think up to 0.15 it's safe to invest in mining without big risk

so go ahead and build your little farm

Just because you can profit currently does not mean you will ever ROI. The whole point is to have enough profit margin to overcome risk (ie price drops/difficulty rise). Currently thats nearly impossible with current levels of ZEC/ETH unless you paying around 5 cents/kw TOTAL bill cost. With BTC/LTC mining your a bit better off since those markets are a LOT more stable.

they keep saying that but what i see is that the altcoin scene was always profitable since 2013, the only big downtime for people with expensive electricity was end 2014, and a bit 2015, but aside form that it was always profitable for everyone

with gpu rig you have virtually no risk, if everything go wrong very fast after your investment you just sell your gpu again for 80% retail or more, if everything go wrong after a year or more, you have already reached roi....so you are safe either way

in any case the big resale value will save your ass
legendary
Activity: 3808
Merit: 1723
December 14, 2016, 05:39:45 AM
#16
.12USD per kWh is too expensive in a long run.
You'll never make ROI.

That is right. If you have that electricity price and with today's ZCash price, it will take several years to ROI.


People seem to just get away with posting alot of giberish lately on Bitcointalk.

Its not several years.... maybe 1 year max and the equipment always holds some value.
newbie
Activity: 30
Merit: 0
December 14, 2016, 04:32:43 AM
#15
.12USD per kWh is too expensive in a long run.
You'll never make ROI.

That is right. If you have that electricity price and with today's ZCash price, it will take several years to ROI.
legendary
Activity: 2174
Merit: 1401
December 14, 2016, 03:50:57 AM
#14
you can currently profit with 30 cent so i can't see how 12 would not be great to start a mining farm, a small one, i think up to 0.15 it's safe to invest in mining without big risk

so go ahead and build your little farm

Just because you can profit currently does not mean you will ever ROI. The whole point is to have enough profit margin to overcome risk (ie price drops/difficulty rise). Currently thats nearly impossible with current levels of ZEC/ETH unless you paying around 5 cents/kw TOTAL bill cost. With BTC/LTC mining your a bit better off since those markets are a LOT more stable.
legendary
Activity: 2408
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
December 14, 2016, 03:26:59 AM
#13
you can currently profit with 30 cent so i can't see how 12 would not be great to start a mining farm, a small one, i think up to 0.15 it's safe to invest in mining without big risk

so go ahead and build your little farm

i Think the problem is with the fees and delivery charge taxes etc that 12 cent rate comes closer to 18 -17 cents on the final bill
legendary
Activity: 3248
Merit: 1070
December 14, 2016, 01:58:10 AM
#12
you can currently profit with 30 cent so i can't see how 12 would not be great to start a mining farm, a small one, i think up to 0.15 it's safe to invest in mining without big risk

so go ahead and build your little farm
newbie
Activity: 19
Merit: 0
December 14, 2016, 01:41:15 AM
#11
12USD/kwh ?Are you sure??
legendary
Activity: 1624
Merit: 1130
Bitcoin FTW!
October 29, 2016, 06:46:50 PM
#10
12 c / kwh is a "kill profit" excessively high electric rate for almost any miner.

The KEY to actually making money at mining is to get somewhere with a LOW electric rate - your "right around US average rate" by cryptocoin mining standards is HIGH.


 7c / kwh you might be able to eek out ROI but even that's gonna be marginal.


 Hint - I moved away from Iowa 'cause the 7.5-8c / kwh LOWER RATE IN NON-SUMMER MONTHS was hammering my mining profits, despite using every available trick to lower my rate.
 The 14c+ "3 months of the summer" rate forced me to shut pretty much EVERYTHING down as being unprofitable.


I can back this up, I have electrical rates of just below 0.075$/kwh and I pretty much have no profit at all. I don't mine for profit anyways, so it's not a big issue, but if you live in a suburban or urban area, chances are you won't be able to mine for decent profit. Same goes if you live in most places in the U.S.

If you plan to mine as a hobby like me, go for it. If not, don't. You'll cry with your electrical bills.
hero member
Activity: 1204
Merit: 531
Metaverse 👾 Cyberweapons
October 28, 2016, 02:47:53 PM
#9
My advice: do not do it unless you have extremely cheap electricity and lots of money to invest in miners... Do you have these?
legendary
Activity: 1498
Merit: 1030
October 27, 2016, 04:56:16 PM
#8
12 c / kwh is a "kill profit" excessively high electric rate for almost any miner.

The KEY to actually making money at mining is to get somewhere with a LOW electric rate - your "right around US average rate" by cryptocoin mining standards is HIGH.


 7c / kwh you might be able to eek out ROI but even that's gonna be marginal.


 Hint - I moved away from Iowa 'cause the 7.5-8c / kwh LOWER RATE IN NON-SUMMER MONTHS was hammering my mining profits, despite using every available trick to lower my rate.
 The 14c+ "3 months of the summer" rate forced me to shut pretty much EVERYTHING down as being unprofitable.

legendary
Activity: 2506
Merit: 1714
Electrical engineer. Mining since 2014.
October 27, 2016, 04:37:59 PM
#7
There is a calculator for every cryptocurrency, you simply need to have your numbers and put a little effort to it.

Most ASIC hardware (SHA 256) miners are mining Bitcoin at the moment.
Most GPU miners are mining Ethereum at the moment.
newbie
Activity: 10
Merit: 0
October 27, 2016, 04:11:10 PM
#6
Alright i guess i might want to re-word what im saying/asking.....

Is it worth trying to get into mining LTC or should i try and dip into ETH and dig out a few grand for it?
I'm just not sure what is a good currency to start mining on.
newbie
Activity: 10
Merit: 0
October 27, 2016, 11:11:33 AM
#5
Use the calculators available online and put your numbers there, that is one way to estimate it.
No one can tell you how things are going to go exactly.

Few BTC mining calculators:
http://tradebtc.net/bitcalc.php
https://bitcoinwisdom.com/bitcoin/calculator

Yeah i've used the BTC calcs and the LTC calcs and it seems like i can get more out of LTC without having to spend more up front.
I just don't know much about the markets in general, but it seems like LTC for me is more of a doable option to mine.

Atleast with the power i'll be paying. (and the price for BTC miners)
legendary
Activity: 2506
Merit: 1714
Electrical engineer. Mining since 2014.
October 27, 2016, 10:52:09 AM
#4
Use the calculators available online and put your numbers there, that is one way to estimate it.
No one can tell you how things are going to go exactly.

Few BTC mining calculators:
http://tradebtc.net/bitcalc.php
https://bitcoinwisdom.com/bitcoin/calculator
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