Compared to investments in real estate and businesses, the ROI is MUCH faster. You can get your money back in about a year depending on your electricity costs.
If they coin you're mining goes belly up you can just switch to mining something else. And if things don't workout you can always sell your GPUs to gamers.
Whats the catch? Crypto dying out all together?
how much can you make per day?
one user said he was making $4 an hour off of one game console
Feels comfy making $180-200 a month from mining.
Get even more if you can go green with solar mining.
Never stopped expanding even though the gpu drought of early '18. Just had to dig deep for the deals. So many people tried to convince others you were better off putting money directly into crypto. If you had listened to that bullshit during the bullring you'd be up if you were smart n cashed out quickly but I'd bet most are down 70-90%. Been mining random altcoins early since June last year and ever rig pays itself off in a few months. Do feel bad for the herds of mindless drones that flood Jow Forumsethermining though. Theyll be in the red for a while.
Does that model look like a long term winner? Crypto moves or dies.
My roi on real estate is 1 year as well
I dont know user
Houses will always be needed by people to live in them.
the obscure pow shitcoin that you mine on the other: do you really want to depend your investment to some chink whales or to the basement dwelling neet who wrote the code and fucked up and now it went 0 after double spending
Fuck are you talking about,there is more mining investment than ever. BTC hashrate is going throughthe roof
gpu mining is 2014-17
right now mostly asics taking over gpus, cheaper, less electricity, and more hashpower.
why mine with gpus?
I'm mining, getting ~$300/mo, maybe $200/mo is profit after electric costs. Im thinking of getting more rigs going.
With a 1070 Ti after electricity costs you'll make about a dollar a day (assuming an average 0f .09/kwH).
Doesn't sound like a lot but if you have 8 of them that's about $2920 a year. If you aren't paying for electricity then you're making about $3880 a year.
And thats assuming the price of whatever coin you're mining stays constant meaning if you convert it into BTC and it goes up over the year you'd make a lot more.
There are algorithms that are mine-able using GPUs and are designed with that in mind on purpose. An example is Monero.
I sure hope China doesn't have entire cities committed to mining using cheap subsidized electricity and free investment money. That would be...
you understand that anything can be made into a asic.
an asid is the same thing as a gpu. its just more effecient. and does specifically what its made to.
asicmining is the future. its good dont run from it, its actually the best way to secure your blockchain
What's your point?
That only means they are making more profit than you, but that doesn't mean you can't also make a profit (even though its substantially smaller).
Its like saying why day trade stocks if people on wall street pay millions of dollars just to be able to make trades 1 millisecond faster.
Of course you can make anything into an asic. However you can't do that without investing time and money into research and development.
The whole point of the algorithms I described is to make them resistant by updating the hashing algorithm to make the asic miner obselete. Look up how Monero does this and it'll make sense.
why would you want to make an algo resistant to asic?
and make asic miner obselete?
the whole idea is to use asics as a form of security.
monero is totally different. try to run a light node, its taking a different approach by having a race updating when asics come out. but whats the point? also its centralizes monero that way.
why not let the asics help secure you system and keep it truly decentralized?
do you not understand how crypto works?
what is your setup?
>$4 an hour off of one game console
this is why OP, brainlets that believe this shit, and this is probably your average crypto user
My point is that there are forces that will seek change. Investment is betting on which side will win.
so the cards dont even pay for themselves then
I mined all of my shit last May and sold off the rig at the peak for a nice profit. I realized I could reliably make more from trading/staking than I could running the rig. I do want to jump back into it though if I can get better cards at a decent price.
Right now is a better time to buy than january that's for sure, but then again new gpus might be around the corner and we know that volta is capable of doing 88mhs ethereum which might be a game changer since it is twice the current top dog vega 64 at 44mhs.
I want some more gpus though..
GPU prices are about to drop
Also talk about some weaker vega cards in the making. Imagine cards with a hashrate of the vega56/64 but at the price of rx580s.
Why does everyone here mine with GPU's are you all retards? You make less money and it requires more work and know-how. Buy ASIC's, like the Ethereum or ZCash ASIC's. Thank me later.
>Asics that will be worth nothing in a short while.
>If you aren't paying for electricity then
... the one who pays for it just has not realized yet, that you rob him.
i can switch coins with GPU, and sell it to gaymers when new generation arrives. Your asic becomes a useless brick with each iteration
>also its centralizes monero that way.
Producer develops ASIC.
His ASIC is best.
Majority of all ASICS are from one producer, amking him basically a monopolistic and non-substitutable factor on the market.
Producer also mines himself and controls a major share of the overall hashrate.
Yeah... ASICS "decentralize"...
mine some money with the skyminer.. grab one, sell bandwidth to users and have a steady income stream
96SKY per month, the official miner, 48 SKY max the DIY one
because no one offers leverage for it and people care more about ROE
or trade if you really feel like it, but sky will stabilize and create a solid eco, so there s no point in day trading really, you should think of supporting the coin instead
Brainlet detected.
master miner here
i've been mining tether and link for the past few years. i've learned how to harness the power of the sun and use solar panels to drastically increase mining power. I probably mine about $5k a day between link and tether. I can mine bitcoin at 900 TH/s but it's more profitable to mine tether and link. Stay poor /bizzers!
Larp? Post pics.
he isn't exactly dumb to point that out
ok, now you're just stupid yourself
Zcoin is currently testing MTP algorithm, which is memory heavy and very expensive to implement with ASICS. But we'll see.
cant believe there is people this dumb
Biz is too dumb to mine
Check out my rigs
Nice. Is power ever a concern? I'm sure at some point your house just won't receive enough power to run all the GPUs.
Also, what temp do you need to keep that room at?
That's a clean rape dungeon, you're a fucking autist.
I have 20 gpus in my shop that the landlord pays elec lel
He probably didn't mention that it was consuming $5 of electricity per hour but it's ok because he lives in his mother's basement so electricity is free
lmao
GURR FOLLORW DUH HURD GURR
I have up to 33kw
>landlord
you mean Mom?
I just do not believe these numbers and it is completely dependent on the price of power in your area. Not to forget cooling your house, while running these little radiators. Even while the price of crypto plummets, you guys aren't making money. In fact some of you people are losing money.
This only works in situations where you are living in a situation where you aren't paying for electricity. The average person can't do this effectively
There are calculators you can use online to calculate this. To make sure it wasn't bs I tried mining myself with the graphics card on my laptop and the numbers seemed legit (taking into account that graphics cards are about 30% weaker on laptops).
just google whattomine and shut the fuck up you dumb nigger
Very nigger
>Gaming rig with average GPU (1070/1080)
>$5/hour to power
Imagine being this retarded
Not if you go after the right coin.
That's the idea if you do t understand this concept
You will not make it
This made me laugh.
shouldn't it be apparent that it is more profitable to sell them than use them
otherwise why wouldn't they hoard and use all them?
Milking miners and speculators both is way more effective.