Mining still worth it ?
- Thread starter santerou
- Start date
uncutu
Elite Member
- Aug 6, 2010
- 3,506
- 3,376
POS = proof of stake. Basically you get free coins for keeping coins in your wallet. More coins you stake, bigger your reward. Not every coin is a PoS coin.
Lots of people will say mining is not worth it.
But let me tell you...last year people were still chanting it's not worth it. But I mined anyway on my 10-year old pc for just 24 hours to see what the results were.
I mined $10 worth of coins at the time. 30-d extrapolation would be $300. My marketing bots made more money so I stopped mining and went back to work as usual.
1 year later I check the wallet, the value quadrupled. $10 became $40. If I mined all month, $300 would become $1200. Not bad for ancient hardware compared to today's performance benchmarks.
My close friend has room full of gpu's.. mined 16+ btc so far this year.
All your other questions..depends how hardware's configured, what you're mining... are you in a pool....etc.
Lots of people will say mining is not worth it.
But let me tell you...last year people were still chanting it's not worth it. But I mined anyway on my 10-year old pc for just 24 hours to see what the results were.
I mined $10 worth of coins at the time. 30-d extrapolation would be $300. My marketing bots made more money so I stopped mining and went back to work as usual.
1 year later I check the wallet, the value quadrupled. $10 became $40. If I mined all month, $300 would become $1200. Not bad for ancient hardware compared to today's performance benchmarks.
My close friend has room full of gpu's.. mined 16+ btc so far this year.
All your other questions..depends how hardware's configured, what you're mining... are you in a pool....etc.
- Jun 20, 2013
- 11,503
- 8,911
NO
It depends on in which country you are living. In Germany as example the costs for energy are too high. In Island as example the costs for energy are low ..
And ofc it depends on which coin u want to mine. Bitcoin is not worth it but maybe a Coin like Komodo .. where u get free coins for keeping your coins in your wallet.
There are many variables to answer you, if it is worth it or not.
And ofc it depends on which coin u want to mine. Bitcoin is not worth it but maybe a Coin like Komodo .. where u get free coins for keeping your coins in your wallet.
There are many variables to answer you, if it is worth it or not.
- Apr 25, 2011
- 19,849
- 28,315
I don't know. I was mining bitcoin a few years back and after a month i worked out it cost me more in electricity than what I earned.
Maybe its easier with other smaller coins, but I am not sure. I think its such a low barrier to entry that its going to be hard and its probably going to come down to who can invest the most money in the best hardware.
Maybe its easier with other smaller coins, but I am not sure. I think its such a low barrier to entry that its going to be hard and its probably going to come down to who can invest the most money in the best hardware.
limatigaku13
Junior Member
- Sep 25, 2017
- 179
- 23
I need to know too 
lostchoas
Junior Member
- Feb 25, 2015
- 177
- 118
i dont know much about mining but from what it sounds like, to get your answer, u need to do some tests. Mine 10 or 20 different currencys in a month or two and see which one ends u with the most profit, then scale. but i also have no expertise in this so i could be wrong in my thinking
jmsalvador021
Power Member
- Nov 19, 2015
- 683
- 150
How about using cloud services like azure? like 100 of these for example?
SpoonFeeder
BANNED
- Mar 19, 2017
- 1,608
- 2,096
I tried. On Azure, AWS and Google cloud and all of them suspended my account for suspicious activity.
InitialLotus
Junior Member
- Apr 8, 2017
- 199
- 26
can ou teach me op
MangoZoo
Newbie
- Oct 3, 2017
- 16
- 5
I wish everyone here will be like you. Nice explanation from your experienced. Never into crypto things but learning never hurts. Thank you and thanked.
Care to give with it explanation. Instead of just NO ?
