Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto currency Mining => Topic started by: CebuBitcoin on April 22, 2018, 05:03:35 PM
-
Due to increase of digital currency prices in 2017 and their publication in the headlines of the majority media, many people began to interest in the crypto space. So, cryptocurrency mining last year has reached unprecedented scales. Companies-manufacturer of mining hardware could not cope with the demand, which in the summer led to a shortage of mining hardware in the markets of not only the CIS countries, but also of the of Europe, and then the price rise for the devices themselves.
Since the beginning of 2018 many cryptocurrencies have lost more than 70% of their cost, but interest in cryptocurrency mining doesn't cease. Due to the fact that the profitability of mining fell, and the procedure itself continues to become more complicated and expensive, what do those who purchase hardware or intend to buy it? Is a cryptocurrence mining is profitable today and whether it right money?..
Source:
https://en.bit.news/is-cryptocurrency-mining-still-profitable-in-2018/
-
Of course, mining remains to be profitable, even taking into account the fact that prices for all cryptocurrencies have fallen. The question is whether mining is advisable, if the payback time of your equipment, for example, has increased by 2-3 times, compared to the end of 2018. Another factor affecting profitability is the price for electricity. If it is expensive in your country, then profitability can be very low, but it will still be. If PoW mining is not profitable for you, you can always switch to PoS mining, which does not require large expenses.
-
Cryptocurrency mining still remains profitable. This depends on the type of mining you are doing. Just don't sit there with an app and tell me you are mining. Look for the proper way and mine and it will get you something good.
-
If you rate the mining nowadays, I rate it 60/40 in my country, 60% goes to the electricity and the 40% is your profit. Last february and march it goes down to 70/30, well, mining is not a business, it is a hobby.. ;) ;)
-
in my counrty its 50/50, electricity/profit not bad.
-
Yes and again, yes, here as before there are 2 main conditions - the cost of videocards when buying and the cost of electricity.
-
of course that mining remains profitable, just less profitable and you need to be better at it and choosing the right coin to mine.
nevertheless mining is always a great opportunity and it is the core of crypto and you will be supporting a specific network
-
Mining is profitable if you started to deal with it last year and have already recouped investment in equipment. If you now buy equipment, then the approximate period of its payback will be about 2 years.
And yes, in my country, mining brings me 84% of profit, with 16% of electricity costs.
-
Mining is profitable if you started to deal with it last year and have already recouped investment in equipment. If you now buy equipment, then the approximate period of its payback will be about 2 years.
And yes, in my country, mining brings me 84% of profit, with 16% of electricity costs.
Nice electricity price ;D
I think that even now it can be profitable with a payback less than 2 years, but you have to be searching and investigating a lot more and find a nice coin to mine...
-
depending on what hardware you use and how much you pay for electricity because every region and country is different
-
Mining is still profitable, you just have to choose your equipment carefully.
Nvidia cards consume less energy, they can be a good choice depending on the price of electricity in your region.
Personally for my 2nd rig I bought second hand cards, it helps to reduce the cost of the purchase
-
Mining is still profitable, you just have to choose your equipment carefully.
Nvidia cards consume less energy, they can be a good choice depending on the price of electricity in your region.
Personally for my 2nd rig I bought second hand cards, it helps to reduce the cost of the purchase
i've considered 2nd hand also, but the price difference was not compensating the loss of the 2 year warranty period that you have when using new cards
Nvidea has some models that no one cares about, they do not produce so much in hashrate, but in respect to electrical consumption and sale price they are just great!! ;D
-
It is true that the guarantee must be taken into consideration, always the same risk/reward ratio
Concerning nvidia cards I think the most interesting are the 1060 gtx 6Gb, they produce 24 Mh/s and consume only 80 whatt with a power limit of 65 %.
They have the best hashrate/price ratio.
otherwise I look at the gtx 1070ti and they look really good, their only problem is their price ahah ;)
-
A lot changes with time.
For my own experience, i became miner in May 2017.
At this beginning, i mined ETH for 25$/day.
And now, one years after, i mine ETH for 3$/day.
So... yes, the difficulty rised up
But software and hardware are more powerful than one years before
new graphics cards will be released in a few months and will be more powerful than previous ones.
They probably to mine better than the old with less electricity.
So, i think it's still profitable, but a lot of miners must change hardware if they want to continue to mine good. 8)
Personnaly, i sold my rig yesterday to stake coin now.
Too hot in my appartment with a rig and the summer comes ! 8)
-
yes it is still profitable you have to be wiser by choosing the coin you will mining for . you must have more idea and lots of information about the coin u will mining so u could get a good profit
-
There are several coins that can provide benefits to be mined. But you have to know, maybe when the market is down, mining does not give much results. But you can save it for some time until the price of the coin that you mine can provide profit.
-
My answer to the benefits of digital currency mining with hardware is not very profitable, even if it is calculated, the cost is very large with very little profit
-
Cryptocurrency mining is a hit or miss. You can mine a stable project and will make a minimal amount of profit after electricity fees and it'll still take a while to pay off your miner. Or you can gamble and mine a project that isn't even on an exchange yet and if the project is a success, you can see huge profits. The risk is, if the project get's dump by the dev or doesn't get listed on any exchanges, you'll be a bag holder.
-
In my view, mining in 2018 is not too profitable. The first reason is that the price of coins is very low. While the electrical power needed to mine is very large. Especially mining is not easy, it takes a long time.
-
In my view, mining in 2018 is not too profitable. The first reason is that the price of coins is very low. While the electrical power needed to mine is very large. Especially mining is not easy, it takes a long time.
Personally, I agree with you, mining is no longer profitable unlike last year, the value of those coins that you will going to mine is more cheaper than the expensive that you will going to have, especially when you are residing inside a third world country, there's a lots of considerations not unless you are really believing that the market will bounce back and you are willing to hold and wait.
-
In my point of view, mining in 2018 is not too profitable. The first reason is that the price of coins is very low. While the electrical power needed to mine is very large. Especially mining is not easy, it takes a long time.
-
The profitability of mining has fallen sharply and in countries with a high cost of electricity, it generally does not make sense, but in countries with low cost electricity is still profitable, although it is at a very low level. Many PoW miners sold their GPU and switched to coins that support PoS technology, because in this case electricity costs are low and profitability is higher compared to PoS mining.
-
Now mining difficulty is so damn high, we should turn back time to 2009 and if we mining in that day we can make at least 10 bitcoin daily
-
Yes. Mining is still profitable but nothing compared to the profts percentage of 2009 all through 2017.
-
If you’re heard about Bitcoin then you probably heard about Bitcoin mining as well – the concept of “creating” Bitcoins from your computer. The following post will give you a complete overview of what Bitcoin mining is and is it still profitable today.
-
Yes of course, it doesn't matter if marker decline mining won't stop because the transaction in blockchain is continues. Although it is expensive you still have the right to choose whether you continue or do another way to earn.
-
In my point of view mining is still profitable it's depends what kind of equipment that's you used and the cions that you choose. Search more about cions that's profitable before we mine so that our profit is good
-
To my own opinion,
The profitability of mining has fallen sharply and in countries with a high cost of electricity, it generally does not make sense, but in countries with low cost electricity is still profitable, although it is at a very low level. Many PoW miners sold their GPU and switched to coins that support PoS technology, because in this case electricity costs are low and profitability is higher compared to PoS mining.
-
on market with price like happend right now i think quite hard to get profite
i see many people selling their minner tool in some group
they said even the money they get from minning can't cover electricity payment
-
Of course, mining remains to be profitable, even taking into account the fact that prices for all cryptocurrencies have fallen. The question is whether mining is advisable, if the payback time of your equipment, for example, has increased by 2-3 times, compared to the end of 2018. Another factor affecting profitability is the price for electricity. If it is expensive in your country, then profitability can be very low, but it will still be. If PoW mining is not profitable for you, you can always switch to PoS mining, which does not require large expenses.
How can you tell that mining is still profitable? I would say it depends, in Kazakhstan it is still profitable for sure, cause the government is subsidizing you energy bill ;D
-
Depends on how much power your system draws and how effective you can cool the system. I mined with a machine in my office room which had the thermostat to the whole house right outside the office room. So the A/C to the whole house was kicking on all the time. So the A/C cost with the cost of the power from the system and the noise it created wasn't worth it for me.
-
I think the estimate thus seems to be on a worst case basis, with it accounting for hardware costs. The latter might somewhat counter the rise in hashrate for bitcoin to now 52 quintillion. That’s because new asics cost around $1,000 too, so miners could replace new gear.
-
Well, for me it was never profitable as I have very expensive local elecrticity.
-
I think the most effective and easy to access model of remote mining is Cloud Mining. In cloud mining, a minor purchases a part of the mining power of hardware hosted and owned by a Cloud Mining company.
-
I think the most effective and easy to access model of remote mining is Cloud Mining. In cloud mining, a minor purchases a part of the mining power of hardware hosted and owned by a Cloud Mining company.
Isn't cloud mining just a financial pyramid?
-
Depends on how much power your system draws and how effective you can cool the system. I mined with a machine in my office room which had the thermostat to the whole house right outside the office room. So the A/C to the whole house was kicking on all the time. So the A/C cost with the cost of the power from the system and the noise it created wasn't worth it for me.
the possibility that it has no effect, given that the diff is getting higher and also the results of mining are starting to thin out when compared to the FIAT pair, not to mention this is calculated by network and hardware maintenance. In some places it is not worth doing, Until now, what coin are you mining?
-
Майнинг-компания Giga Watt прекратила все операции Сегодня 14:51 Американская майнинговая компания Giga Watt прекратила все повседневные операции из-за ареста майнинговой площадки и работавших на ней вычислительных мощностей, сообщается в официальном чате компании в Telegram. Компания разослала клиентам письма о том, что она продолжала работать в течение двух месяцев после инициации процедуры банкротства, однако «в настоящее время потеряла доступ к своим мощностям и объекту, на котором был расположен майнинг-центр».
Сообщается, что до марта пользователи могут вывести свои средства с кошельков через панель управления на сайте Giga Watt.
Giga Watt также пообещала вернуть клиентам их майнинговое оборудование, хранящееся на хостинге компании. Майнеры, устройства которых были демонтированы до ареста площадки, в течение двух недель получат уведомления.
Те клиенты, чье оборудование оказалось арестовано вместе с дата-центром, должны будут дождаться окончания судебного процесса.
В ноябре компания подала документы о банкротстве в суд Восточного округа Вашингтона. Ее кредиторами являются около 20 фирм, в том числе коммунальные предприятия и поставщики электричества.
Обязательства перед ними оцениваются в 10−50 млн долларов, при этом собственные активы компании составляют только 50 тыс. долларов. В протоколе собрания акционеров Giga Watt говорится, что она неплатежеспособна и не сможет вовремя вернуть деньги.
В январе против Giga Watt подали коллективный иск, в котором инвесторы утверждали, что она так и не выполнила своих обязательств по реализации проекта и выдаче токенов.
Они также обвинили компанию в проведении незарегистрированного предложения ценных бумаг. В августе фирма начала сокращать персонал.
Подробнее на https://ru.ihodl.com/topnews/2019-01-17/majning-kompaniya-giga-watt-prekratila-vse-operacii/