My guess is the little hobby miners are the only ones that will "survive" the incoming difficulty tsunami.
Topic: Why do you small timers even bother? - page 3. (Read 1552 times)
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
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.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).
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.
Theres many reasons for small timers to mine. Profit is still profit. How does mining effect whether they have a job or not. If you do it right it can be a set it and forget it type operation and profit is still profit. Money aside, people including me are interested in the process and crypto in general and this is one of the main blocks of crypto. Also if we let farms run everything that kind of defeats "decentralized" world we are in. It also keeps me up to date with all the coins and the economy in what is going on. Plenty of reasons beyond profit driven for miners small or large to keep going....
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.
simple, even if you only get 1 cent profit it is still worth it.
but you are right, dont bother mining, there are too much miners anyway.
lay down your algorhytmic shovels and enjoy life.
work couldnt get any easier....
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.
what the means of small timer? (skip..)he/she isn't miners. if you ever experienced mining coin ETC, when at that time Fork 1:1 become ETH coin, At that time I only had 1 RIG and I get profitable comparable to 2 VGA R9 290. one case else example when a mining Zcash, first release software for Equihash Algo (because when Zcash released, still CPU based). since then I mining Zcash for 2 months and I have profit can buying 1 RIG again complete (only in my country). and until at this time, I still do mining on Ethash Algo and so far still profit after paying the electricity.
Most of you guys are better off working a regular job and just buying crypto.
if you suggest better a regular job and just buying crypto. I feel that's less precise because a regular job also not necessarily better than a miner from in terms of income. the different of miners can full a control their income without must wait for a monthly salary and said 'hello boss every morning'. and expect the boss to give a bonus in every month and Christmas day. 
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......
What's a small timer?
Make a few K a month here but even if I only made $300 how is that not worth bothering for?
Shitty threads like this is why I hate reading this shit hole, buncha fuckin money hungry retards all about profit instead of the projects.
Loserville.
Make a few K a month here but even if I only made $300 how is that not worth bothering for?
Shitty threads like this is why I hate reading this shit hole, buncha fuckin money hungry retards all about profit instead of the projects.
Loserville.
Small mining farm has its benefits where we can switch to different coins easily as well as difficulties in running small farm is much lesser. This then bring the issue of how many people required to run the farm as most of us mining here operates solo. It is mostly one or two man shows. No of rigs can ranges from up to 50 rigs for one person to handle as well as all the available electricity supply. Small miners can hodl coins better as the risk is lower and thus has potential benefits in longer term.
You still haven't defined small timer.
And this seems like a baited reactionary question. But I'll bite
I have 3 rigs and soon have 4.
If I bought crypto and it went to nothing. What would I have.....nothing.
If I bought mining equipment and crypto went to nothing. What would I have? Assets that I could sell on ebay to limit my losses.
It's called stability and once you get it going. Just check in on it a few times a day to make sure its running.
And this seems like a baited reactionary question. But I'll bite
I have 3 rigs and soon have 4.
If I bought crypto and it went to nothing. What would I have.....nothing.
If I bought mining equipment and crypto went to nothing. What would I have? Assets that I could sell on ebay to limit my losses.
It's called stability and once you get it going. Just check in on it a few times a day to make sure its running.
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 been thinking the same thing. At what point is it considered a farm? Currently have 3 1070ti, 11 1070, 1 1080. Currently mining zencash at this very moment its bringing in ~$900 a month, and I pay .10 kwh.
yeah, if you want to build a big farm like the Genesis farm, with a lot of capital. I know for atm, build one RIG not cheap, maybe have another way like buy part by part from hardware. for a problem income whether profit or loss, it depends on from the management miners on his income.I have 5 Rig and the mining profit enough big in my country. and I still worked like usually.
Its obvious alot of people are jaded on here and want you to quit mining so they can get more profits. People need to chill out and let us small time miners have some fun.
I think some people are mining because they are hobbies, although the profit is not much. but if the benefits are collected over a long period of time the results are also quite unruk used in expanding your current operations and build up from there. 
Don't let your selves get discouraged by FUD and posts like this. Stay positive. They've been saying #miningIsDead for months now and yet here we are.
If you look closely, many people have also said they've already ROI-ed on their rigs. Its all a matter of perspective. Yes there are plenty risks involved but i for one am happy taking the risk with my mining rigs. More than 50% done ROI on 3 rigs here.
If you look closely, many people have also said they've already ROI-ed on their rigs. Its all a matter of perspective. Yes there are plenty risks involved but i for one am happy taking the risk with my mining rigs. More than 50% done ROI on 3 rigs here.
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.
What a peculiar post. Obviously it did not occur to you that people need to start somewhere. First a few GPUs, then a rig, then a couple of rigs etc. If desired. Maybe not everyone wants to run a farm you know.--ypsi
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.
You sir, are an idiot. Telling people to buy this stuff on credit is far and away the dumbest piece of advice you can offer anyone. If you are too poor to buy a mining rig, putting one on credit will just put you more into the hole. It takes money to make money and buying mining equipment on a credit card is the perfect way to dig yourself into even more debt.
Idiot? Really? are you telling this without getting into water did you, if you're into it the story changes, started my 1st rig year 2016 on CC's with decent low interest, already ROI'd and paid in full. have now additional 5 rigs
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A lot of business started off with loans and debt and take a few years to be above water. I see this quite similiar but on a smaller scale. I have no regrets maxing out my CC Smiley . NO risk no reward. Tongue . Heck GPU prices even gone up. Their is really zero risk mining but also gains are not as lucrative as buying.
Imagine if you decided to hold off on buying gpus last year, You would have missed the whole rally and paid double for gpus now. Fundamentals will say never fund things on debt but the stats and facts will always tell a different story. Best time to mine will always be months ago, not months ahead.
Imagine if you decided to hold off on buying gpus last year, You would have missed the whole rally and paid double for gpus now. Fundamentals will say never fund things on debt but the stats and facts will always tell a different story. Best time to mine will always be months ago, not months ahead.
People are really speculative, doing business is not only if you have money in your pocket, sometimes you need guts to get things done.
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.
False..!
I used to mine some LTC back in 2013..with 3 Radeon 280x .. mined 2 LTC/day for a few months.. So i was getting 4-5$ per day..
Look how much this worth right now...
Ya but the point is you could of spent the time you used on mining to work other jobs or make more cash and buy way more than 2 litecoins a day back then. So it kind of makes mining pointless for small timers.
Nah, I already work 50+ hours a week in IT. Are you suggesting I should get a second job? I suppose I could find second shift server admin or help desk, but I'd rather have a life. Mining+stock market+Swagbucks type phone farm earns me thousands in passive income a year. I think I'll use "that other time" to do something I enjoy rather than worry if my investments aren't earning as much as another 20 hours of work a week would. Plus I fall to see how anyone involved with tech and investments could not find mining interesting to say the least.
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.
You sir, are an idiot. Telling people to buy this stuff on credit is far and away the dumbest piece of advice you can offer anyone. If you are too poor to buy a mining rig, putting one on credit will just put you more into the hole. It takes money to make money and buying mining equipment on a credit card is the perfect way to dig yourself into even more debt.
A lot of business started off with loans and debt and take a few years to be above water. I see this quite similiar but on a smaller scale. I have no regrets maxing out my CC
. NO risk no reward. 
. Heck GPU prices even gone up. Their is really zero risk mining but also gains are not as lucrative as buying.Imagine if you decided to hold off on buying gpus last year, You would have missed the whole rally and paid double for gpus now. Fundamentals will say never fund things on debt but the stats and facts will always tell a different story. Best time to mine will always be months ago, not months ahead.
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