Will mining profitability keep going down, or will it stop - or increase?

Ocatin

newbie

Activity: 16

Merit: 0

Quote from: ActiveP on July 08, 2017, 03:04:09 PM

It all depends on mining difficulty, mining during its early days was pure gold, with only a few miners it was easier. There a lot more miners now and I expect there will be more as bitcoin adoption and popularity increases. Difficulty will almost always increase every month, so your hardware will earn less coins each month.

Also keep in mind that the exchange rate is up and down, Your profits depends on how long you hold your coins, or the value when you sell. You could mine now, and sell a few years down the line, If bitcoin is valued at $15,000 for example, you profit would be much higher than if you sell now at $2500.

You need to keep track of your cost - electricity and other bills, spending and your trades to make sure your calculations are correct, and you are making some profit now before investing in new hardware. The profits will come, most big miners take a long term view when looking at profits, but trade enough to cover your cost.

In terms of overall gaming performance, the graphical capabilities of the Nvidia GeForce GTX 1070 MSI Founders 8GB Edition are significantly better than the AMD Radeon RX 470 4GB

I think I will keep on mining as long as there is some profit. In a few years, the coins will worth a lot.

fistfullofbtc

full member

Activity: 210

Merit: 100

ive just sold my rig for pretty much what i paid for it 3 months ago, cold hard cash just seems better right now.

Tmdz

hero member

Activity: 1008

Merit: 1000

In a couple of hours difficulty will take a BIG jump on eth, perhaps about 30%

fistfullofbtc

full member

Activity: 210

Merit: 100

holding in the past has worked out but no one knows the future, i have no problems taking profit, regret is always hard, but any profit is profit, holding could go south as much as up.

ActiveP

full member

Activity: 210

Merit: 100

It all depends on mining difficulty, mining during its early days was pure gold, with only a few miners it was easier. There a lot more miners now and I expect there will be more as bitcoin adoption and popularity increases. Difficulty will almost always increase every month, so your hardware will earn less coins each month.

Also keep in mind that the exchange rate is up and down, Your profits depends on how long you hold your coins, or the value when you sell. You could mine now, and sell a few years down the line, If bitcoin is valued at $15,000 for example, you profit would be much higher than if you sell now at $2500.

You need to keep track of your cost - electricity and other bills, spending and your trades to make sure your calculations are correct, and you are making some profit now before investing in new hardware. The profits will come, most big miners take a long term view when looking at profits, but trade enough to cover your cost.

In terms of overall gaming performance, the graphical capabilities of the Nvidia GeForce GTX 1070 MSI Founders 8GB Edition are significantly better than the AMD Radeon RX 470 4GB

grape_tectonics

newbie

Activity: 56

Merit: 0

Quote from: Tmdz on July 08, 2017, 11:55:57 AM

The noobs will commit suicide.

No point in buying gpus at this point when profit is getting less and less and prices on gpus continue getting jacked up by manufacturers.

Its not the manufacturers that jacked up the prices, its the retailers figuring out how massive the demand is. Some of them were still selling rx 570's at sub €200 prices while the second hand auctions were already reaching €350, its only a few weeks ago that they finally adjusted their prices "appropriately".

Tmdz

hero member

Activity: 1008

Merit: 1000

The noobs will commit suicide.

No point in buying gpus at this point when profit is getting less and less and prices on gpus continue getting jacked up by manufacturers.

NPFC

newbie

Activity: 12

Merit: 0

As new coins release that helps spread the miners, but these ICOs arent helping much.

thesmokingman

full member

Activity: 212

Merit: 100

Quote from: fanatic26 on July 08, 2017, 11:16:31 AM

If you took loans out to buy mining rigs, you deserve to go bankrupt. I cant believe people would be so stupid as to do something like that.

Greed knows no limits

fanatic26

hero member

Activity: 756

Merit: 560

If you took loans out to buy mining rigs, you deserve to go bankrupt. I cant believe people would be so stupid as to do something like that.

Yaunfitda

hero member

Activity: 2870

Merit: 594

Quote from: Ayers on July 08, 2017, 10:20:04 AM

i think yes for now, mining is always up and down like trading, now everything is red like in winter season, but will return to green in autumn season, it's always like that, you must be new here if you believe otherwise, don't worry the market will recover

That is right. But I think the mining profit will go down in the short term at least.

Ayers

legendary

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Leading Crypto Sports Betting & Casino Platform

i think yes for now, mining is always up and down like trading, now everything is red like in winter season, but will return to green in autumn season, it's always like that, you must be new here if you believe otherwise, don't worry the market will recover

fistfullofbtc

full member

Activity: 210

Merit: 100

Quote from: Metroid on July 08, 2017, 08:28:05 AM

People are stupid or want to be stupid, if they buy hardware now then they will never roi, in few weeks we will have eth reduction from 5 to 2.5 or 3, that is 100% in profitability, ice-age coming, block reward, from 15 to 30 seconds, that is another 100% in profitability. The difficulty is vastly increasing,at least expect 30% increase, next few weeks, polaris cards are going to hell in few weeks, for amd users, that will be 25% less money, so meaning at least 300% decrease in your daily profitability. If you make today $2.40, you will be making $0.70 in few weeks and that if eth holds the price is right now because if it crashes more than this then people will start committing suicide, people who bought expensive hardware will never roi, people who took loans will have very problematic coming months, they will probably have to sell their kidneys, arms, legs, hearts to pay back loans, same thing happened in 2013. In few weeks will be so many rx 480, rx 580 and gtx 1070 selling for 50% off.

i bought my rig on interest free for a year. my cards are gtx1070 x 6. they sell for 300 gdp minimum so 1800 gdp. i paid total 3000gdp for rig. in the 3 months mining not all 6x gtx 1070 i have made 1000gdp minimum, so i sell today at no loss. or wait and sell later, it is a gamble but life is a gamble. people that invested 10k's then maybe not the best idea, but only time will tell and thousands have been proved wrong time and time again.

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

People are stupid or want to be stupid, if they buy hardware now then they will never roi, in few weeks we will have eth reduction from 5 to 2.5 or 3, that is 100% in profitability, ice-age coming, block reward, from 15 to 30 seconds, that is another 100% in profitability. The difficulty is vastly increasing,at least expect 30% increase, next few weeks, polaris cards are going to hell in few weeks, for amd users, that will be 25% less money, so meaning at least 300% decrease in your daily profitability. If you make today $2.40, you will be making $0.70 in few weeks and that if eth holds the price is right now because if it crashes more than this then people will start committing suicide, people who bought expensive hardware will never roi, people who took loans will have very problematic coming months, they will probably have to sell their kidneys, arms, legs, hearts to pay back loans, same thing happened in 2013. In few weeks will be so many rx 480, rx 580 and gtx 1070 selling for 50% off.

Marvell1

legendary

Activity: 2408

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Leading Crypto Sports Betting & Casino Platform

Quote from: PanneKopp on July 08, 2017, 03:43:43 AM

This is just the beginning.

We will see further decline in mining rewards.

Only most efficient or running lowest power costs miners will survive the game.

Greedy noobs investing now will never ROI.

We will have a tsunami of used GPUs in 3 months.

Seen this all before.

Grin

P.S. welcome to the ICE-AGE next year

cant blame the so called noobs for jumping in, the problem is too many over extended themselvs with loans and
morgaging thier cribs etc , which makes them sell everthing that they mine at these bargain basement prices instead of holding for a month or two but they have loans to pay.

as the whales keep tightening the pressure via diff increases and more altcoin and bitcoin news spinning bs like segwit will kill btc etc, too many icos killing eth fud... more newbs will panic instead of standing firm and dump thier gear stupidly.

smart money right now is to hold on tight to your gear and mined assets at least till after aug 1 , and then reasses your options , at some point there will be a pump.

not a good time to expand yeah unless you are sitting on alot of pure btc or fiat, but a terrible time to sell atm

if anything im buying assets like golem, augur pay, dct etc , anything thats solid and down over 10 percent im loading up for tha pump

PanneKopp

sr. member

Activity: 391

Merit: 250

aka ...

This is just the beginning.

We will see further decline in mining rewards.

Only most efficient or running lowest power costs miners will survive the game.

Greedy noobs investing now will never ROI.

We will have a tsunami of used GPUs in 3 months.

Seen this all before.

Grin

P.S. welcome to the ICE-AGE next year

Marvell1

legendary

Activity: 2408

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Quote from: Metroid on July 05, 2017, 10:06:04 AM

game over trolls,from here on only bloodshed cause whales know noobs got many loans to buy hardware and now whales are just sitting and buying coins from noobs cause noobs need to pay their loans. So much fun and the interesting thing is noobs roi was 8 months now will become 80 years, they will be dead before they get their investment back. Do not worry noobs, i will help you out to pay your loans, i will buy all your coins for 5 times less hehe

lol ^ this ^

I took out loans to expand my farm but that was december last year 90 percent paid off just in the nick of time tee hee, Ive lost out on millions in revenue selling eth to low , now the whales are in control both on the mining side (raising the the diff, buying up 90 percent of hardwarestocks) and now dumping eth and every other alt to oblivion which then

puts pressure on folks like you said took loans to buy overpriced hardware may june july in reponse to the manipulated eth pump.

now price is coming back to reality and ppl are panicking duh the whales have always been in control

Marvell1

legendary

Activity: 2408

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Leading Crypto Sports Betting & Casino Platform

lol these genius questions kill me.. if you have to ask .... lool

fistfullofbtc

full member

Activity: 210

Merit: 100

i used to make 25 dollars a day off 5 x gtx 1070, now i make 12 dollars max. so half, but it does seem like a lot are jumping in. people are building rigs without a clue expecting easy money.

sundownz

hero member

Activity: 714

Merit: 512

Profits on my nVidia cards since the initial dip have remained very stable.

But the algo they prefer is moving around alot... on my 1080s they are starting to like X11Gost in addition to Lyra2Rev2 and Lbry.

Even my 1060s/1070s switched to X11Gost for a bit last night.

Mining on NiceHash.

My AMD cards doing Etherium (Dagger) have been slowly declining in profitability at a pretty constant rate.

Topic: Will mining profitability keep going down, or will it stop - or increase? (Read 4652 times)