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Is gpu mining still profitable?



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 10 months ago '04        #1
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D.IrIsH 347 heat pts347
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Is gpu mining still profitable?
 

 

37 comments for "Is gpu mining still profitable?"
 10 months ago '08        #2
Kewop Decam 87 heat pts87
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Yes

 10 months ago '04        #3
D.IrIsH 347 heat pts347 OP
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 Kewop Decam said
Yes
Watch the video

 10 months ago '11        #4
Papa Shango 14 heat pts14
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whattomine.com

 10 months ago '08        #5
Kewop Decam 87 heat pts87
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 D.IrIsH said
Watch the video
No.

I mine and the answer is... YES!

 10 months ago '05        #6
P-Hill|M 27 heat pts27
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@ single handedly fu*ked the mining market up

hoarding all those AMD GPUs

 10 months ago '04        #7
D.IrIsH 347 heat pts347 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...

 10 months ago '04        #8
ruff 6 heat pts
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If you're starting from scratch today, hell no

 10 months ago '08        #9
Kewop Decam 87 heat pts87
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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.

 10 months ago '17        #10
Lite 11 heat pts11
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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?

 10 months ago '08        #11
Kewop Decam 87 heat pts87
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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.

 10 months ago '05        #12
MP 54 heat pts54
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Dont really know what mining is but im interested

 10 months ago '04        #13
D.IrIsH 347 heat pts347 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!

...props

 10 months ago '17        #14
Lite 11 heat pts11
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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?


 10 months ago '04        #15
chubs189 37 heat pts37
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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.

 10 months ago '08        #16
Kewop Decam 87 heat pts87
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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.

 10 months ago '15        #17
80nueve 9 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

 10 months ago '08        #18
Kewop Decam 87 heat pts87
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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

 10 months ago '15        #19
2Cold 495 heat pts495
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 10 months ago '15        #20
80nueve 9 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.

 10 months ago '10        #21
ThRoWeD MaN LaN 2 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
I read that you need different equipment to mine btc vs other currencies. Do you think itís worth it to go with ASIC for btc or go with another setup for alt coins?

 10 months ago '08        #22
Kewop Decam 87 heat pts87
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 PharaohKush said
said the dude with 20k posts in less than 2 years... heh

 10 months ago '08        #23
Kewop Decam 87 heat pts87
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 ThRoWeD MaN LaN said
I read that you need different equipment to mine btc vs other currencies. Do you think itís worth it to go with ASIC for btc or go with another setup for alt coins?
ASIC mining is pretty much only for the big fish. Getting into that requires a lot of money for equipment that can break and you can't fix. Good thing about GPUs is you can always sell them back or use them for other things. Like I plan on taking two of my 1070s that don't mine as fast as my other 1070s and use them in 2 custom arcade cabinets I'm going to build next year. So I can flip one of those arcade cabinets and still make money.


I don't recommend ASIC mining at all, especially because you're stuck to mining only one algorithm where GPU mining has like 10 or more algorithms to mine against.

 10 months ago '08        #24
Kewop Decam 87 heat pts87
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 80nueve said
Post pics of your miner or a list of your hardware. Would like to buy something similar

Mobo - MSI 2170A SLI Plus (I paid $120 and now the price on these are inflated as fu*k, go with the 270A)






GPUs - 6 x 1070 (I suggest EVGA and Zotacs. I got some Asus ones and I don't like them. I believe Samsung memory in the GPUs are best and ones called Hynix or something like that are the worst. Also minis work just as well)





GPU Risers - You need six of these but should buy extras because a pack usually has a broken one or two. There are a lot of people selling risers so knowing the quality of them is hard and mostly luck unfortunately. Also check eBay for huge 20 packs that be the price of these 6 packs below



CPU - Intel 3900 (CPU isn't important)


Ram
- Crucial 4gb (ram isn't important)


PSU - Corsair HX 1200




OS - Windows 10 (Get the install from windows or the CD from someone)

KB/M - Amazon Basics


Monitor - just get any sh*tty monitor. I bought like 30 monitors for $80 total from a university that was going to throw them away. A good amount were broken, lol

 10 months ago '15        #25
80nueve 9 heat pts
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 Kewop Decam said
Mobo - MSI 2170A SLI Plus (I paid $120 and now the price on these are inflated as fu*k, go with the 270A)






GPUs - 6 x 1070 (I suggest EVGA and Zotacs. I got some Asus ones and I don't like them. I believe Samsung memory in the GPUs are best and ones called Hynix or something like that are the worst. Also minis work just as well)





GPU Risers - You need six of these but should buy extras because a pack usually has a broken one or two. There are a lot of people selling risers so knowing the quality of them is hard and mostly luck unfortunately. Also check eBay for huge 20 packs that be the price of these 6 packs below



CPU - Intel 3900 (CPU isn't important)


Ram
- Crucial 4gb (ram isn't important)


PSU - Corsair HX 1200




OS - Windows 10 (Get the install from windows or the CD from someone)

KB/M - Amazon Basics


Monitor - just get any sh*tty monitor. I bought like 30 monitors for $80 total from a university that was going to throw them away. A good amount were broken, lol
what coins are you currently mining? can you mine more than 1 coin at a time? if so how many coins at a time?

 10 months ago '15        #26
2Cold 495 heat pts495
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 Kewop Decam said
said the dude with 20k posts in less than 2 years... heh
this like the 3rd 4th time you said this to me...



and each time i should you the calculations.. if posting about 20 posts a day is nerf sh*t than thats fine with me


 10 months ago '17        #27
one2remember2 6 heat pts
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 PharaohKush said
this like the 3rd 4th time you said this to me...



and each time i should you the calculations.. if posting about 20 posts a day is nerf sh*t than thats fine with me

If you keep hearing it. Must be some truth. You salty we smart than u. And me speaking of me, im sure im more attractive as well. so u really really hitting that Molsen right about now. Get that BP checked

 10 months ago '04        #28
D.IrIsH 347 heat pts347 OP
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 one2remember2 said
If you keep hearing it. Must be some truth. You salty we smart than u. And me speaking of me, im sure im more attractive as well. so u really really hitting that Molsen right about now. Get that BP checked
Molsen

 10 months ago '08        #29
Kewop Decam 87 heat pts87
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 PharaohKush said
this like the 3rd 4th time you said this to me...



and each time i should you the calculations.. if posting about 20 posts a day is nerf sh*t than thats fine with me

I don't think I've ever spoken to you before ever. Maybe someone else pointed that out to you? There's no way I'd say the same "comeback" over and over. I would actually remember that


also I was just fu*king with you, but that's hard to tell through text and people constantly trolling on BX. Basically, I'm playing with you.

I'm proudly a nerd. Nerds get paid. Nerds is how we're even going at each other right now from different parts of the planet.

 10 months ago '08        #30
Kewop Decam 87 heat pts87
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 D.IrIsH said
Molsen
what is Molsen?

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