Still worth it to invest in a mining rig?

jihalliday

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I have around $700 to invest. I know Etherum mining is big right now, my personal gaming pc with a 1060 makes around $4/day.

Is there any rigs I could build with $700? I know of $2k rigs with 5+ cards hooked up, but I don't want anything that intense.

Just curious.
 
Unless your electricity costs next to nothing, or you're getting it for free, then no, it's not worth mining. China has basically overtaken this industry, as they can source cheap hardware and electricity.
 
Unless your electricity costs next to nothing, or you're getting it for free, then no, it's not worth mining. China has basically overtaken this industry, as they can source cheap hardware and electricity.
Electricity is free as I live in an apartment.
 
That doesn't mean it's free xD
I guess you're not the one paying the electricity bill
Well, the cost of utilities is included in my rent. So I'm still paying for it... but a flat rate :P
 
You would be better off buying into a hosted mining rig. Some of them get electricity cheaper than you could ever get.
 
Well, the cost of utilities is included in my rent. So I'm still paying for it... but a flat rate :p

That's what I was thinking.

You should still be careful, cause if your owner see some increase in the electricity consumption he will for sure come down to ask you some questions (and that will maybe lead to an increase of the rent).
 
Electricity is free as I live in an apartment.

The owner can easily install a kw/h meter and give you a nice surprise monthend after he sees that his bill skyrocketed for the second month in a row.
 
Just as a historical thought : When goldrushes where still a real thing ( not much unlike any crypto these days ) the people making real money where the ones selling commodities to the miners. It rang true for the gold-diggers and will likely ring true now. I just did the maths ( well I used the official Ether calc ) and it seems that about $140 can be had a month with one card. Now keep it mind, as more and more people jump on this wagon ( not much unlike gold ) the network hash rate goes up. So instead of worrying about your investment ROI going down as time ticks, sell them spades ( well I know you cannot really sell GPU's profitably as a one man show with $700 to spare, but you can write about it, even for other people and make money that way ) Or open a website with tips and use that $700 to get some black hat page 1'er

I spend about 10 - 20 hours writing to get $140, sitting cosy and warm behind my pc, so effectively my hash rate is 900 ( compared to a GPU with a hash of 25.
To get the gpu equivalent you would need to buy 36 of them. Granted I cannot ever be a gpu and run 24/7, but just saying.
 
Ethereum is supposedly soon switching to Proof of Stake. I believe mining Zcash is still profitable except you would probably need closer to $2000 for a setup.

With $700 I would personally diversify myself with a few of the lower cost coins that have a large change to gain some traction ie: Siacoin, Ripple, NEM etc.
 
4$ a day with you pc is not bad ....... you should scale it up.
 
Definitely depends on how cheap you can get your power. If you were to take this to a serious scale, your landlord would notice the spike in energy use. Majority of the miners/rigs out there that are actually profitable are not in residential properties.
 
leave all simply take an action instead waste time in too much discussion ;)

End of the the day if you get nothing at hardest at least you own the hardware which can be resell simple.
 
It's definitely possible to make it profitable, you just won't make a shit load of money. I like to think that if you're running in the green doesn't hurt to expand, does it? If you got some btc profits invest it in a mining rig if you believe that it can be successful. Contingent it's running in green, even a dollar a day. Doesn't hurt to set it up and leave it.
 
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