Topic: WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING ? - page 3. (Read 17747 times)

been mining for about a year, but will have to say this is the absolute worst time to start mining in my opinion.

asics are attacking all algos, fpga is on the horizon, and new gpus are scheduled to be released by eoy. Even gpu's are still slightly overpriced. There's absolutely no reason to start a GPU mining farm.

Even starting an ASIC farm is questionable and FPGA are so unproven at this point, the risk is extremely high.

Its a lazy world now. People need stuff spoon fed unfortunately. Best thing is don't respond and let the threads die.

I realise I'm replying to an old post however a list of online profitability calculators that I compiled.

https://bitcointalksearch.org/topic/websitesonline-profitibility-calculators-for-gpu-mining-3279788

Why do you need to be careful?  Just jump in.

If you are a gamer and have a few GPU, then it is OK to mine. But be careful if you want to build a mining farm.

Still same questions araound. Lets make this topic go front so maybe some more can read again

I'm a noob in the mining world, I just started about a month ago and it's been a hell of a process.  Trying to find GPUs, motherboards, PSUs has been a hell of ride.  Sometimes I wonder why I ever bothered to start.  Apart from paying over MRSP for pretty much everything, I have spent countless hours learning and troubleshooting my rig.

But I never really have questioned whether or not it is profitable, because from I come from electricity is only $0.12 a kWH and I live in Canada.  Even if prices are dropping and continue to drop, I make money.   So on a 6 card GTX 1080 Ti I pay about $120 or so in electricity a month.  And mining right now pays far, far more than that.  If it drops to a really low point, then I'll just hold the coins and sell them later when it goes back up.  

I have spent close to $7500 on this 'hobby' so far and as frustrating as it has been, it's also been a great learning process for me and most of the time I do find it fun.  I certainly do not rely on this to make a lot of money.  Please help me if I do.  I do it to make some passive side money and also to learn more about cryptocurrency because I think it is here to stay for good and within 5 years will really start making its way to more mainstream services and products.  

I see people complaining about ROI times at > 8 months and I just laugh.  I would very happy if my ROI paid back in a year.  Do you know many investments that do that?  

yes you are right i was a noob once too ,just like everyone else... but i did my research  , and did not just jumped into something without knowing what im facing  , never asked questions what no one can answer , because those questions are impossible to answer  , never built any kind of business just because any mining calculator told me, im going to make good money every months... never aksed questions like ; OMG the mining calculator told me 2 weeks ago i should make xxx $ but im only making xxx-100$ WHY
At least i learned the basic things about mining , what is the difficulty , how difficulty growth , coin/usd exchange rate can reduce my earnings ...

I do the same thing! It's pretty amazing how many cards you can pack in to one of these.

WARNING TO NEW PEOPLE: Make sure you give your shelf plenty of space to access the rigs since once it's full of equipment is is VERY HEAVY and it's unlikely you will be able to move it without taking everything off the shelf first! Also worth mentioning that you should use a level to ensure that the shelf is nice and even (use the individually-adjustable feet to level it) which will prevent it from tipping over!

I'll just leave the warning there without mentioning *cough* *cough* my experience with the above... 

Basically this:


Any projection based on current stats that you ask from experienced users basically just comes from some sort of online mining profitability calculator. Again, you can do your own research here.

Nobody's going to fudge factor difficulty and price changes for you in a way that could possibly be defended as a reasonable "approximation". Additionally, you should know far more about your specific electricity costs than anybody else.

someone pls make this beautyful capslock-manifest a sticky 

This should be sticky on all subforums here.

Built my first GPU rig w/ one of these www.amazon.com/gp/product/B01L0ORH96/ref=oh_aui_search_detailpage?ie=UTF8&psc=1. Pretty much wide open for airflow. Planning on using it to play games once I get more cards and need to build an actual rig. Right now, it holds a 1050ti and 1060 mounted facing forward. Probably not the cheapest open air route to take, but it looks pretty cool IMO

In order to use the GPU for mining we need to change the BIOS and install on a computer of miner's driver. This helps to increase the speed of production and reduces the temperature of the chips. If you only have one GPU you are using for the game you will have a sense to buy for a few dollars the old PC and use it for mining. Rearrange this PC, the GPU will take a few minutes. At the same time to play and get coins, you still will not be able.

SLI is dead, the new games stopped supporting it.

Because they are noobs. You were a noob once too.

I build rigs with these https://www.amazon.co.uk/dp/B01IZP68RK/

Use cable ties to hold the gpu's in place and cut out some plyboard for the base.

One shelf unit can fit 6 rigs but I just use it for 4 rigs, it's not pretty and you won't pick up any chicks by showing them your rigs but it works and it's cheap.

Ohh you haven’t seen hostile yet lol.  It can get pretty ruff on here from time to time.  Anyway. Do your own research. It’s definitely profitable to be mining at least in the USA.  Most are going to say no if they live in high power $ area or they trying to protect their pc of the pie.

As far as your rig goes. Lookup building a rig out of milk crate.  Yea it doesn’t look very pretty but it will cool vastly better.  Or look into spending some money and buy a open air pc case. They can be found more and more nowadays. With a little work you can build a really nice one for cheap. 

BR

Thanks for the encouragement! From the looks of things around here most people are hostile to new miners. While I know I missed the boat so to speak, I am only doing it as a hobby, and as you said I can game with the cards as well.

I am looking to put them in a open air frame though, as running inside my PC case is quite warm even with extra fans. Does anyone else run their gaming PC in an open air design, or run a dual gaming mining rig?

I can tell you the exact roi , if you can tell me the following information for the next six months or a year ahead:
DASH/FIAT exchange rate, day buy day for 6 months or a year
DASH/BTC exchange rate, day buy day for 6 months or a year
Dash network difficulty, day buy day for 6 months or a year
Dash network hashrate change, day buy day for 6 months or a year