Why do you small timers even bother? - page 2.

QuintLeo

legendary

Activity: 1498

Merit: 1030

Quote from: green547 on February 27, 2018, 11:10:52 AM

Why even bother to mine with a few minres and earn a couple of dollars a day. Mining is only worth it if you can build a big farm with a lot of capital. Most of you guys are better off working a regular job and just buying crypto.

Because it's dollars they would not have - there is no point to NOT mining with gear if you already have it.

I suspect even most small-scale miners pull in a lot more than "a couple dollars a day" anyway - that's SINGLE GPU territory in many cases.

Also, why do you ASSUME they don't have a "regular job"?

And to be blunt about it, GPU mining right now is a LOT more profitable on a $/watt basis and in some cases on a $ per dollar INVESTED basis than most ASIC return, with a lot lower risk.

38 cards is what I'd call "medium scale home miner" or "very small scale pro", depending on the specific cards. 18 1080 ti > 38 RX 460....

JukNi

newbie

Activity: 27

Merit: 5

Quote from: green547 on February 27, 2018, 11:10:52 AM

Why even bother to mine with a few minres and earn a couple of dollars a day. Mining is only worth it if you can build a big farm with a lot of capital. Most of you guys are better off working a regular job and just buying crypto.

First define what is small timer? 1 or 50 GPUs ?
How big is your "big timer" mining farm ? Not just the words, we want the good proof that you are one of the most awesome miner.
There will be allways somebody bigger than you, so... who cares

lunobird

full member

Activity: 846

Merit: 115

Payouts are half the amount dollar wise and gpu prices are twice as much compared to last year. Yet people are still trying to gpu mine? There's plenty of bitmain asics that will give better returns.

flippener

full member

Activity: 322

Merit: 101

I think people take it too seriously. You don't have to have big farms - just run your GPUs when you're not using them, and have them pay for themselves.

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

GPU mining was never meant to be done with many gpus in one location, cause that is bad when we think about network decentralization, imagine if every gamer in the world could use your gpu for mining and only one gpu for each algo, that would be amazing, the cryptoworld would be a much better place right now. I hope the next generation of cryptocoins kill the gpu farming idea cause is a terrible idea which does not help anything really and you greedy bastards that only think about increasing your gpu farming would have to change the way you view cryptocoins.

GazWales

newbie

Activity: 28

Merit: 0

I have a small dedicated rig and my gaming machine running 24/7 - costs me £100-£110 a month in electric and was making after electric 800 a month profit. Cut that in half at the moment but 400x12 is still £4800 a year profit - thats a decent holiday for little work. Well little work now its all working ok! As others have said build it, leave it earn and carry on with day job its a nice little bonus!

& as paid in Bitcoins which im HODL, hopefully will go back up to higher profits come summer time..

rlkiwi

jr. member

Activity: 66

Merit: 1

Quote from: green547 on February 27, 2018, 11:10:52 AM

Why even bother to mine with a few minres and earn a couple of dollars a day. Mining is only worth it if you can build a big farm with a lot of capital. Most of you guys are better off working a regular job and just buying crypto.

interesting, i have a 1080gtx, every month i make about $20, the old saying $20 is $20! i run my PC 24/7 anyway so its not a big deal for me

marvel213

member

Activity: 280

Merit: 13

I have 38 video cards. My goal is to keep adding more until I can turn this into 100k a year mining facility. Does this make me a small time miner?

I can live off my mining rigs currently.

h311m4n

sr. member

Activity: 487

Merit: 266

Quote from: green547 on February 28, 2018, 08:15:42 PM

It's only going to get worse from here on out. The big boys are coming and setting up massive farms and eventually the little guys will be left with pennies as the difficult increases tremendously.

Meh, as long as new coins keep coming out with friendly gpu algos, this won't be that much of a problem.

Many people only refer to WTM, but many coins aren't listed there. Just doing a bit of research can allow you too mine good coins with good potential that not everyone's mining.

green547

full member

Activity: 385

Merit: 101

It's only going to get worse from here on out. The big boys are coming and setting up massive farms and eventually the little guys will be left with pennies as the difficult increases tremendously.

BitcoinSupremo

copper member

Activity: 1442

Merit: 529

I started out as a small miner and a hobbyist with my single Nvidia GTX 1060 in my home. I started in November 2016 where this card was making about 0.0013 BTC daily and I immediately fell in love with this and soon after with money I made from mining added a new GTX 1060 in March 2017. So on I started and have made this home mining rig with 2 GTX 1060 and 4 GTX 1050 ti in two separate PC-s, I have room for another 3 cards but that is not important.

What is important is that during July 2017 me and some friends have invested together and have built 25 mining rigs or 5 mining rigs each. This maybe is not much as a big fish but sure adds up even here in Europe, as that is 1300 EURO net profit excluding electricity cost for 5 rigs that we have each one.

What I want to say is that if I and my friends were not experimenting and were not small timers in the beginning we would have nothing right now. As they say, ONE HAS TO START SOMEWHERE and in Bitcoin world you start wherever and whenever you can no matter how small you are when you start.

FloridaCoin

newbie

Activity: 14

Merit: 0

Quote from: newmz on February 28, 2018, 02:26:19 AM

Hey all you guys who responded to this - I think maybe the OP was from a big hairy guy about 9 feet tall who traditionally lives under a bridge or in a dungeon......

Amen!

MajMongoose

newbie

Activity: 19

Merit: 0

I was bored and needed a new hobby... Grin

IndieMiner

jr. member

Activity: 51

Merit: 1

Quote from: GeePeeU on February 28, 2018, 12:48:12 PM

If a small timer can spot the perfect coin, and mine the shit out of it, and secure it then forget about it, me might be well off in 10 years.

This.

A small miner can act as a fundamental long-term trader/investor by mining the right altcoins as they are entering the market and essentially securing what could be considered the new world equivalent of stock in a promising new company.

GeePeeU

sr. member

Activity: 545

Merit: 251

ASK

If a small timer can spot the perfect coin, and mine the shit out of it, and secure it then forget about it, me might be well off in 10 years.

It's more of a gamble, but there are incentives.

treanski

full member

Activity: 364

Merit: 106

ONe Social Network.

Quote from: Iamtutut on February 28, 2018, 12:18:28 PM

Why even bother to mine with a few minres and earn a couple of dollars a day. Mining is only worth it if you can build a big farm with a lot of capital. Most of you guys are better off working a regular job and just buying crypto.

maybe you fucking arrogant cunt should to go and learn more about crypto if you need a whole farm to make good profit

Iamtutut

full member

Activity: 1120

Merit: 131

NateDoggETH

jr. member

Activity: 76

Merit: 1

Quote from: Riptide_NVN on February 28, 2018, 09:13:48 AM

Quote from: NateDoggETH on February 27, 2018, 04:41:08 PM

If you have good credit, I would buy mining equipment with credit cards (find one with 0% interest for 24+ months) and use that card for your mining expenses. I get as many reward points as I can this way.

That is like me having 3 jobs at that point.

1. main job that I would not quit
2. mining (5 rigs and will continue to grow)
3. reward points paying for vacations or other fun things I wanna do (I am not paying anything really from my own bank account at that point)

All this can be done and if you did it the right way (paying off each month).

Absolutely correct THIS is just fine.

Did morons even read the critical last part of this post before responding? He's PAYING IT OFF EACH MONTH. Therefore, not going into debt to fund this.

Putting expenses on credit cards and then paying them off monthly to get the rewards is one of the smarter things you can do to maximize savings. He's got this figured out.

If people would have read the entire post instead of jumping to conclusions that in living in debt they would have seen that information. I pay off my credit cards that could get interest each month so that I never pay anything "extra" besides what I use. The stuff I have on 0% interest credit cards is always paid off before the time frame that I could get charged interest on it (example 24 months 0% interest $20000 on credit card would have 20 payments of $1000 and would be paid off before the expiration of the 0% APR).

that is called smart financing.

I work in the financial industry and there are many strategies people can do to benefit other area of there lives (i.e. not spend as much money). The reason why people get so crazy about credit cards and hearing this stuff is because they are not disciplined in there own financial lives in my opinion.

h311m4n

sr. member

Activity: 487

Merit: 266

Quote from: retard75 on February 28, 2018, 10:17:31 AM

My guess is the little hobby miners are the only ones that will "survive" the incoming difficulty tsunami.

That doesn't make any sense mate...the higher the diff, the more difficult it becomes for a small time miner to get coins and make it worthwhile, unless the price of the coin itself rises enough for it to make no difference.

Golftech

hero member

Activity: 2128

Merit: 520

Quote from: h311m4n on February 28, 2018, 09:41:55 AM

Quote from: green547 on February 27, 2018, 11:10:52 AM

Why even bother to mine with a few minres and earn a couple of dollars a day. Mining is only worth it if you can build a big farm with a lot of capital. Most of you guys are better off working a regular job and just buying crypto.

I'm not a small time miner, but here's my 2cts.

1. Working an average job, with an average pay and getting stuck in traffic every day like every other average looser out there is not what I call better off. Granted, it gets you a stable revenue.
2. Most of us, small, average or big time miners do this for a variety of reasons. We do it as a hobby, we do it because it actually pays the bills. But honestly, I think we all do it simply because we all secretly hope that the coins we mine will one day get us out of point #1 so we can do something else with our lives than spend it working 8-5

A good and precise answer, we do have all our reasons and the fact that mining still profitable and helpful to those who understand it, I think OP is not a miner itself but just looking for some analysis, those who have small rigs and still manage to continue are still believing that someday the value of what they are holding will be mooning, as long as it can pay electricity bills and the rigs still working and surviving that's still a good news for small miners like us.

Topic: Why do you small timers even bother? - page 2. (Read 1552 times)