Crypto mining
- Thread starter Martin..
- Start date
Papaproxy
Power Member
- Mar 1, 2019
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Okay, I checked, could you please name me one coin that brings in profit (if it does, how many years does it take) when you subtract the cost of getting a rig in the first place?
It only shows electricity costs over there.
- Mar 21, 2013
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Okay, I checked, could you please name me one coin that brings in profit (if it does, how many years does it take) when you subtract the cost of getting a rig in the first place?
It only shows electricity costs over there.
Could you please name one legal business, anywhere, that is initially profitable when you subtract the initial investment?
That's a stupid question. How can you make money out of nothing? Everything requires startup money. Not even Amazon is profitable considering the initial investment.
Papaproxy
Power Member
- Mar 1, 2019
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That's not what I meant and your reaction to this is even more 'stupid', like you said
GPU's for mining have have warranty of 2 years. If you push it to the limit, they hardly last the two or maximum three years. (a lot manufacturers cancel the warranty if they can see the GPU's were used to mine.)
So if you calculate the costs of purchasing a rig, estimating the time that GPU's will work, they're still not profitable now. And there is no use mining if it barely costs electricity costs cause you're only tearing the GPU.
Also, don't forget that difficulty increases every day which also effects the outcome. It would be considered actually possible if you're willing to gamble that the price will increase.
Much better to just buy the coins in stead of investing much more and trying to mine it.
- Mar 21, 2013
- 24,761
- 31,552
That's not what I meant and your reaction to this is even more 'stupid', like you said
GPU's for mining have have warranty of 2 years. If you push it to the limit, they hardly last the two or maximum three years. (a lot manufacturers cancel the warranty if they can see the GPU's were used to mine.)
So if you calculate the costs of purchasing a rig, estimating the time that GPU's will work, they're still not profitable now. And there is no use mining if it barely costs electricity costs cause you're only tearing the GPU.
Also, don't forget that difficulty increases every day which also effects the outcome. It would be considered actually possible if you're willing to gamble that the price will increase.
Much better to just buy the coins in stead of investing much more and trying to mine it.
Bro.
There are millions of people mining 24x7.
You're like that scientist who said helicopters can't fly then one of them flew right above him.
Papaproxy
Power Member
- Mar 1, 2019
- 665
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I own a farm so I'm sure when I say it all depends on how much you pay for electricity and how cheap you bought the rig itself.
Promise Obi
Regular Member
- Oct 13, 2018
- 213
- 52
Check
whattomine.com it'll give you best options of what to mine, daily profit and best machine to use, including price
whattomine.com it'll give you best options of what to mine, daily profit and best machine to use, including price
Hira Ramzan
Registered Member
- Apr 4, 2019
- 61
- 42
You are looking into other cryptocurrencies that's good.. I feel like since Facebook has Libra and giants like J P Morgan are looking into these currencies, the financial gains will definitely go up.. even for small ventures.. the era of digital currencies is just starting out..
- Mar 21, 2013
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Coinwarz includes electricity price.
As for initial investment, that has nothing to do whether mining is profitable or not.
Papaproxy
Power Member
- Mar 1, 2019
- 665
- 283
Yes it does. Unless you know how to mine with thin air, equipment is needed, and profit is income - expenses as far as I remember.
- Mar 21, 2013
- 24,761
- 31,552
You have no clue about proper accounting.
