Is gpu mining still profitable?

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 2 weeks ago '04        #1
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D.IrIsH 329 heat pts329
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Is gpu mining still profitable?
 

 
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37 comments for "Is gpu mining still profitable?"

 2 weeks ago '08        #2
Kewop Decam 79 heat pts79
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Yes
 2 weeks ago '04        #3
D.IrIsH 329 heat pts329 OP
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 Kewop Decam said:
Yes
Watch the video
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 2 weeks ago '11        #4
Papa Shango 14 heat pts14
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whattomine.com
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 2 weeks ago '08        #5
Kewop Decam 79 heat pts79
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 D.IrIsH said:
Watch the video
No.

I mine and the answer is... YES!
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 2 weeks ago '05        #6
P-Hill|M 26 heat pts26
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@ single handedly fu*ked the mining market up

hoarding all those AMD GPUs
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 2 weeks ago '04        #7
D.IrIsH 329 heat pts329 OP
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 Kewop Decam said:
No.

I mine and the answer is... YES!
Well, the answer was yes and no.

Basically, if you have a bunch of high end hardware sitting around (who does??) collecting dust you can put them to work and start making some money...

If you have to actually go out and buy new sh*t just to mine the video states it would take at least a couple years to recoup costs... and thats a.ssuming market stability

So...
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 2 weeks ago '04        #8
ruff 6 heat pts
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If you're starting from scratch today, hell no
 2 weeks ago '08        #9
Kewop Decam 79 heat pts79
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 D.IrIsH said:
Well, the answer was yes and no.

Basically, if you have a bunch of high end hardware sitting around (who does??) collecting dust you can put them to work and start making some money...

If you have to actually go out and buy new sh*t just to mine the video states it would take at least a couple years to recoup costs... and thats a.ssuming market stability

So...
Again, I actually do this and have for months so...


If you spend about 12K on mining equipment you'll gain about 600-700 dollars in various Crypto a month. And that's me aiming low. I'm right now pulling in $800-1K a month. You then subtract electricity which for me is about $150 a month.


Now, I have a condo that I rent out that I got for the cheap (housing crash). It cost me 37K and I put 10K in renovations. My profit from renting that condo out a month is about $200. That is a good return on the rental as it pays the mortgage, plus get's me an extra $200.


With those two things there, which makes more sense to put your money into? Renting a condo where you have to deal with people, fixing things, and a return that is lower or mining equipment where you don't have to deal with any people and make more money without actually doing anything?

Also years to pay for itself off...? You know how many YEARS it would take for a renter to pay for that condo if I didn't put extra on top? Mining right now is one of the BEST investment returns and anyone claiming otherwise is just wrong. The only way to make more money quicker is by putting your money into the coins and guess correctly when to buy, hold, then sell. There's little guess work in mining and absolutely zero guess work if you're using Nicehash.

Lastly, the "years" to pay off kind of depends on the worth of the coins. If the coins go up and down in value, a $600 month could turn into a $5000 month or even a $40 month. It depends if you're holding onto the coins or not.


no one has hardware lying around so I don't know why that is even mentioned. People either jump in or they don't. They were saying mining wasn't worth it when people were mining 20 ether a month using one card. Back then Ether was about $10-20 bucks. 1 ether is now worth $312 and to mine just 2.5 ether a month now you'd need like 18 cards... and even THEN it's still profitable.

The answer is yes because the return is way quicker than anything I've ever seen.
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 2 weeks ago '17        #10
Lite 10 heat pts10
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 Kewop Decam said:
Again, I actually do this and have for months so...


If you spend about 12K on mining equipment you'll gain about 600-700 dollars in various Crypto a month. And that's me aiming low. I'm right now pulling in $800-1K a month. You then subtract electricity which for me is about $150 a month.


Now, I have a condo that I rent out that I got for the cheap (housing crash). It cost me 37K and I put 10K in renovations. My profit from renting that condo out a month is about $200. That is a good return on the rental as it pays the mortgage, plus get's me an extra $200.


With those two things there, which makes more sense to put your money into? Renting a condo where you have to deal with people, fixing things, and a return that is lower or mining equipment where you don't have to deal with any people and make more money without actually doing anything?

Also years to pay for itself off...? You know how many YEARS it would take for a renter to pay for that condo if I didn't put extra on top? Mining right now is one of the BEST investment returns and anyone claiming otherwise is just wrong. The only way to make more money quicker is by putting your money into the coins and guess correctly when to buy, hold, then sell. There's little guess work in mining and absolutely zero guess work if you're using Nicehash.

Lastly, the "years" to pay off kind of depends on the worth of the coins. If the coins go up and down in value, a $600 month could turn into a $5000 month or even a $40 month. It depends if you're holding onto the coins or not.


no one has hardware lying around so I don't know why that is even mentioned. People either jump in or they don't. They were saying mining wasn't worth it when people were mining 20 ether a month using one card. Back then Ether was about $10-20 bucks. 1 ether is now worth $312 and to mine just 2.5 ether a month now you'd need like 18 cards... and even THEN it's still profitable.

The answer is yes because the return is way quicker than anything I've ever seen.
what increases mining difficulty?

idk if thats the right way to word my question... why does someone go from mining 20 ether a month to only 2.5? is it because of the amount of people mining?
 2 weeks ago '08        #11
Kewop Decam 79 heat pts79
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 Lite said:
what increases mining difficulty?

idk if thats the right way to word my question... why does someone go from mining 20 ether a month to only 2.5? is it because of the amount of people mining?
It's the perfect way to phrase the question. So mining difficulty is artificial and goes up when more people start mining a coin. The reason it goes up is because if it stayed at the current difficulty, all the coins would be mined too quickly. So the devs program it in to change the difficulty based on how many hashes/sols, ect are being pushed to do the transactions. Another thing that can be changed is the reward payout. So devs can either make it more "difficult" or make the reward payout for doing the transactions less, or mess with both. On Etherum the lessened the difficulty and the payout recently. So easier to mine, but the payout was less, but overall people got more payout than before the devs changed it.


So when you mine you aren't "digging" for coins. You're the middle man, the teller, doing the actual transactions for the blockchain and you're reward for doing that. It's basically being a teller and getting paid to do so, except you aren't doing sh*t, the computer it.
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 2 weeks ago '05        #12
TattooedMPsz 50 heat pts50
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Dont really know what mining is but im interested
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 2 weeks ago '04        #13
D.IrIsH 329 heat pts329 OP
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 Kewop Decam said:
Again, I actually do this and have for months so...


If you spend about 12K on mining equipment you'll gain about 600-700 dollars in various Crypto a month. And that's me aiming low. I'm right now pulling in $800-1K a month. You then subtract electricity which for me is about $150 a month.


Now, I have a condo that I rent out that I got for the cheap (housing crash). It cost me 37K and I put 10K in renovations. My profit from renting that condo out a month is about $200. That is a good return on the rental as it pays the mortgage, plus get's me an extra $200.


With those two things there, which makes more sense to put your money into? Renting a condo where you have to deal with people, fixing things, and a return that is lower or mining equipment where you don't have to deal with any people and make more money without actually doing anything?

Also years to pay for itself off...? You know how many YEARS it would take for a renter to pay for that condo if I didn't put extra on top? Mining right now is one of the BEST investment returns and anyone claiming otherwise is just wrong. The only way to make more money quicker is by putting your money into the coins and guess correctly when to buy, hold, then sell. There's little guess work in mining and absolutely zero guess work if you're using Nicehash.

Lastly, the "years" to pay off kind of depends on the worth of the coins. If the coins go up and down in value, a $600 month could turn into a $5000 month or even a $40 month. It depends if you're holding onto the coins or not.


no one has hardware lying around so I don't know why that is even mentioned. People either jump in or they don't. They were saying mining wasn't worth it when people were mining 20 ether a month using one card. Back then Ether was about $10-20 bucks. 1 ether is now worth $312 and to mine just 2.5 ether a month now you'd need like 18 cards... and even THEN it's still profitable.

The answer is yes because the return is way quicker than anything I've ever seen.
It's like pulling teeth on Bx sometimes.. this should have been your first response!

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 2 weeks ago '17        #14
Lite 10 heat pts10
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 Kewop Decam said:
It's the perfect way to phrase the question. So mining difficulty is artificial and goes up when more people start mining a coin. The reason it goes up is because if it stayed at the current difficulty, all the coins would be mined too quickly. So the devs program it in to change the difficulty based on how many hashes/sols, ect are being pushed to do the transactions. Another thing that can be changed is the reward payout. So devs can either make it more "difficult" or make the reward payout for doing the transactions less, or mess with both. On Etherum the lessened the difficulty and the payout recently. So easier to mine, but the payout was less, but overall people got more payout than before the devs changed it.


So when you mine you aren't "digging" for coins. You're the middle man, the teller, doing the actual transactions for the blockchain and you're reward for doing that. It's basically being a teller and getting paid to do so, except you aren't doing sh*t, the computer it.
i appreciate the info... now the only question is which coin should i mine? is there a list of mineable coins?

 2 weeks ago '04        #15
chubs189 21 heat pts21
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 Kewop Decam said:
It's the perfect way to phrase the question. So mining difficulty is artificial and goes up when more people start mining a coin. The reason it goes up is because if it stayed at the current difficulty, all the coins would be mined too quickly. So the devs program it in to change the difficulty based on how many hashes/sols, ect are being pushed to do the transactions. Another thing that can be changed is the reward payout. So devs can either make it more "difficult" or make the reward payout for doing the transactions less, or mess with both. On Etherum the lessened the difficulty and the payout recently. So easier to mine, but the payout was less, but overall people got more payout than before the devs changed it.


So when you mine you aren't "digging" for coins. You're the middle man, the teller, doing the actual transactions for the blockchain and you're reward for doing that. It's basically being a teller and getting paid to do so, except you aren't doing sh*t, the computer it.
Hey you were a big help in the other thread last week. Got me and my cousin trying to jump in. Funds are tight so we figured if we split the cost wouldn't hurt as much. We would just re up the money and keep building up till we each got our own set up. My question is when you say your electricity cost is that just the rig? Or is that for your whole place. We aren't sure if we should set it up in a guest room at one of our places. The whole keeping it cool worries us.
 2 weeks ago '08        #16
Kewop Decam 79 heat pts79
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 chubs189 said:
Hey you were a big help in the other thread last week. Got me and my cousin trying to jump in. Funds are tight so we figured if we split the cost wouldn't hurt as much. We would just re up the money and keep building up till we each got our own set up. My question is when you say your electricity cost is that just the rig? Or is that for your whole place. We aren't sure if we should set it up in a guest room at one of our places. The whole keeping it cool worries us.
When I say electricity cost I mean that is the extra I play in electricity on top of my regular use. So my total elect bill is usually like 300 in the summer and half of that is from mining. In the winter it should be less as the computers can heat up the house a bit depending what coin you're mining. There's different mining algorithms and some require more energy than others, thus more heat.

Where you put your mining computers matter because in a typical house, you can't have two in the same room without tripping a breaker. And by 2, I mean a rig consisting of 6 GPUs. Right now I have one miner in the guest room, computer room, and a closet (3 total, 18 GPUs). At some point I'm going to move them all either into the garage or the attic. When I do that, I'll have an electrician come out to add bigger breakers and outlets that can deal with the voltage of these machines.

As far as keeping them cool, that deals with overclocking settings and if you can vent air out of the room. So in your house/apt/whatever, venting the air is simple because it won't be in a closed room (don't close the door). But if you want to put it in a garage or attic like I do, you're going to need some kind of window or open air area to push the air out because even if it were 0 degrees, the cards push out heat and if there's no where for the heat to escape it will just overheat the room like a portable heater. An alternative to this is to build a box where you are pushing air in with a fan and sucking air out with another fan. So inside the box, it'll remain cool, but outside that box will start to get hot and overheat. That's the main tricky part if you don't want to see, hear, or feel the heat of the miners.
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 2 weeks ago '15        #17
80nueve 8 heat pts
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 Kewop Decam said:
When I say electricity cost I mean that is the extra I play in electricity on top of my regular use. So my total elect bill is usually like 300 in the summer and half of that is from mining. In the winter it should be less as the computers can heat up the house a bit depending what coin you're mining. There's different mining algorithms and some require more energy than others, thus more heat.

Where you put your mining computers matter because in a typical house, you can't have two in the same room without tripping a breaker. And by 2, I mean a rig consisting of 6 GPUs. Right now I have one miner in the guest room, computer room, and a closet (3 total, 18 GPUs). At some point I'm going to move them all either into the garage or the attic. When I do that, I'll have an electrician come out to add bigger breakers and outlets that can deal with the voltage of these machines.

As far as keeping them cool, that deals with overclocking settings and if you can vent air out of the room. So in your house/apt/whatever, venting the air is simple because it won't be in a closed room (don't close the door). But if you want to put it in a garage or attic like I do, you're going to need some kind of window or open air area to push the air out because even if it were 0 degrees, the cards push out heat and if there's no where for the heat to escape it will just overheat the room like a portable heater. An alternative to this is to build a box where you are pushing air in with a fan and sucking air out with another fan. So inside the box, it'll remain cool, but outside that box will start to get hot and overheat. That's the main tricky part if you don't want to see, hear, or feel the heat of the miners.
Post pics of your miner or a list of your hardware. Would like to buy something similar
 2 weeks ago '08        #18
Kewop Decam 79 heat pts79
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 80nueve said:
Post pics of your miner or a list of your hardware. Would like to buy something similar

[pic - click to view]



1070 build. I post all the specs when I get home as I don't remember the mobo, ram, and processor off the top of my head.

PSU is 1200 EVGA
4gb of ram
60gb SSD drive
cheap a.ss intel processor.
6 x 1070 nvidia


My other build is a 6 x 1060 build and a mixed 1060 and 1070 build. The 6 x 1070 build is the best/fastest rminer
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 2 weeks ago '15        #19
PharaohKush 301 heat pts301
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 2 weeks ago '15        #20
80nueve 8 heat pts
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 Kewop Decam said:

[pic - click to view]



1070 build. I post all the specs when I get home as I don't remember the mobo, ram, and processor off the top of my head.

PSU is 1200 EVGA
4gb of ram
60gb SSD drive
cheap a.ss intel processor.
6 x 1070 nvidia


My other build is a 6 x 1060 build and a mixed 1060 and 1070 build. The 6 x 1070 build is the best/fastest rminer
Yoo good looking bro. I Appreciate it.
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