Is crypto mining still profitable?
- Thread starter sunil0021
- Start date
Chris Newman
BANNED
- Oct 13, 2018
- 6,868
- 6,032
Indian govt has already announced that at the most there MAY be some regulations on crypto and NO ban.
NoHypeNeeded
Power Member
- Dec 30, 2016
- 577
- 320
I'm sorry, but lmao @ "I'm going to invest $100k into something" then "I know nothing about it though".
Sounds like you probably shouldn't my dude. And +1 for staking over mining anyways. Collect good passive returns and enjoy that before throwing your money into an idea/venture/business that you admittedly don't know anything about.
My two cents btw: Yeah, it 'could' be profitable MAYBE but is SO not worth the headache and setup and everything that comes along with it. Might as well buy a bunch of phones and start a phone farming operation using Swagbucks or something lmao.
It's just entirely not worth it. Anyways, good luck for sure.
Sounds like you probably shouldn't my dude. And +1 for staking over mining anyways. Collect good passive returns and enjoy that before throwing your money into an idea/venture/business that you admittedly don't know anything about.
My two cents btw: Yeah, it 'could' be profitable MAYBE but is SO not worth the headache and setup and everything that comes along with it. Might as well buy a bunch of phones and start a phone farming operation using Swagbucks or something lmao.
It's just entirely not worth it. Anyways, good luck for sure.
Chris Newman
BANNED
- Oct 13, 2018
- 6,868
- 6,032
@NoHypeNeeded Even I suggested staking instead of mining (see my earlier reply to this thread). You've also suggested staking instead of mining. I am shocked at how so many people with outdated knowledge are suggesting mining !!! OP @sunil0021 is talking about investing US$100,000 and that is not a small amount. I suggest OP researches to know why to stake instead of mining and not end up having a loss.
solidguy_82
Banned - Multiple Rules Violations
- Jul 14, 2016
- 2,899
- 1,126
It's all profitable but ethereum mining is coming to an end in December. There is some sort of update will happen in December.
I think electricity cost is cheap in India but hardware cost is getting high due to demand
I think electricity cost is cheap in India but hardware cost is getting high due to demand
solidguy_82
Banned - Multiple Rules Violations
- Jul 14, 2016
- 2,899
- 1,126
Have a look on this
My investment is roughly around 10000$
HustleTong
Elite Member
- May 30, 2019
- 13,466
- 10,660
You may very well account for the electricity cost as well
It depends on where you live
It depends on where you live
Juhku
Power Member
- Jul 9, 2020
- 598
- 3,936
Shortly said.
Yes, crypto mining in general, is profitable and will remain profitable.
However, I wouldn't suggest you to invest that much money into something that you know nothing about.
I can say from experience that there will be problems, errors, you name it from time to time. Unless you can hire knowledgeable people who you trust to monitor your mining 'rig' 24/7, it won't be fun to watch and think why half of your GPUs aren't starting.
Also, even the 'starting phase' is a thing of its own.
You need to know the right memories to look for in GPUs. You need some advanced knowledge in the physics of electricity and power supply-ing just so you don't risk blowing your whole warehouse up in the air.
Overclocking the memories to a point where the cards can still function steadily can be a bit tedious if you're starting out.
I will also guarantee that you will need a steady supply of high-quality riser cards.
Just to name a few.
If you decide to hop in crypto mining, I would highly advise you to start very small. Try to do everything by yourself, and you'll learn the basics.
Yes, crypto mining in general, is profitable and will remain profitable.
However, I wouldn't suggest you to invest that much money into something that you know nothing about.
I can say from experience that there will be problems, errors, you name it from time to time. Unless you can hire knowledgeable people who you trust to monitor your mining 'rig' 24/7, it won't be fun to watch and think why half of your GPUs aren't starting.
Also, even the 'starting phase' is a thing of its own.
You need to know the right memories to look for in GPUs. You need some advanced knowledge in the physics of electricity and power supply-ing just so you don't risk blowing your whole warehouse up in the air.
Overclocking the memories to a point where the cards can still function steadily can be a bit tedious if you're starting out.
I will also guarantee that you will need a steady supply of high-quality riser cards.
Just to name a few.
If you decide to hop in crypto mining, I would highly advise you to start very small. Try to do everything by yourself, and you'll learn the basics.
- Jul 4, 2020
- 4,778
- 3,847
1. GPU prices are really high right now
2. Mining is profitable if you already own the setup to mine, buying a new one from 0, is really hard to get yourself into profit. It will take a lot of time until you gain whatever you spent on the setup.
2. Mining is profitable if you already own the setup to mine, buying a new one from 0, is really hard to get yourself into profit. It will take a lot of time until you gain whatever you spent on the setup.
Leader777
Banned - Shitlisted and did not do the right thing
- Feb 2, 2017
- 4,063
- 3,659
This
theeyeinside
Senior Member
- Aug 19, 2014
- 963
- 867
Crypto mining is NEVER PROFITABLE AT THIS MOMENT WHEN STARTING UP
It MIGHT be profitable at a point in the future
Question - Why would they sell you a card when they can mine themselves ?
1) You cannot get reasonably priced equipment. You are paying a premium for the fastest cards
Check some of the calculation sites. Your ROI (breakeven return on investment IF the price stays the same, is around 10 months.
If your chosen coins go down, then the ROI might increase
2) The calculation sites are always off because they only count power to run the card. They NEVER count power to COOL the card.
And they never include losses
If you pay .10 a KW Hour, then it is another .10 to cool and at least .05 in losses. Power cost .25 per KW Hour.
Unless you are in Iceland ......
3) Stay away from bitcoin. Just do GPU mining
4) For the amount you are investing -
Make sure you have multiple cards per motherboard, in open "cases", extended
Make sure you use quality, efficient power supplies. A power supply failure can kill motherboards AND GPU cards
Make sure you have a separate building (not a home or garage) so that you can get a COMMERCIAL POWER rate. It is 50% of the home rate
Buy insurance on your equipment
Sincerely,
The Eye
It MIGHT be profitable at a point in the future
Question - Why would they sell you a card when they can mine themselves ?
1) You cannot get reasonably priced equipment. You are paying a premium for the fastest cards
Check some of the calculation sites. Your ROI (breakeven return on investment IF the price stays the same, is around 10 months.
If your chosen coins go down, then the ROI might increase
2) The calculation sites are always off because they only count power to run the card. They NEVER count power to COOL the card.
And they never include losses
If you pay .10 a KW Hour, then it is another .10 to cool and at least .05 in losses. Power cost .25 per KW Hour.
Unless you are in Iceland ......
3) Stay away from bitcoin. Just do GPU mining
4) For the amount you are investing -
Make sure you have multiple cards per motherboard, in open "cases", extended
Make sure you use quality, efficient power supplies. A power supply failure can kill motherboards AND GPU cards
Make sure you have a separate building (not a home or garage) so that you can get a COMMERCIAL POWER rate. It is 50% of the home rate
Buy insurance on your equipment
Sincerely,
The Eye
- Oct 14, 2018
- 143
- 38
I can get free electricity, can you guide me how to make money mining?
- Apr 10, 2020
- 3,303
- 866
In some places, you can use free electricity. It will be profitable there.
Where you can use free electricity?
just buy basic and go with bitcoin
- Jul 30, 2021
- 570
- 86
If you didn't pay elec you will money return faster than any invest...
ATuringtest
Elite Member
- Mar 8, 2019
- 1,625
- 2,846
I would think you would make money from selling the electricity from your solar farm ?
We have a farm nearby (northwest England) he invested £250k in a solar/wind/hydro farm and hes basically coining it in.. utilities costs only ever go up.
We have a farm nearby (northwest England) he invested £250k in a solar/wind/hydro farm and hes basically coining it in.. utilities costs only ever go up.
Conjecting
Banned - Multiple Rules Violations
- Oct 31, 2021
- 759
- 1,554
I'd think with a good budget it can still be profitable.