People say mining not worth it, but calculators say otherwise

Getting a 4xRX580 setup would give me about $600 profit per month (free electricity), yet people say mining is not profitable.
$600/month is a lot. Are they lying or am I missing something? Maybe they are used to earning thousands of dollars so now it's not worth it? ;)

Comments

  • achillezachillez Member Posts: 7
    good question - been asking the same thing myself
  • achillezachillez Member Posts: 7
    I was an early test miner back in 2014. Been away with "life", come back, and see damn that I should've been mining all this time. Alas so is life...
  • XatosXatos Member Posts: 24
    People are becoming selfish, trying to keep the hash rate low.
  • NebellNebell Member Posts: 39
    Yeah I figured that much. And I can't really blame them.
  • Gurpreet1806Gurpreet1806 Member Posts: 24
    Well, if you have free electricity, you should go for it. I would say go for 5 cards instead of 4. Profitability is there but not as much as the time passes by, because the difficulty level of Eth algorithm is getting higher day by day, as more and more people are joining in to mine. So, if people were able to mine 4 Ethers per month with 5 cards couple of months ago, now they are able to mine only about 2.5 Ethers. However, the value of Ether also doubled. But you have to consider some facts like It would take atleast 2-3 months to recover your investment of the rig. Second, Eth is considering to go PoS from PoW. In that case, you won't be able to mine. Either sell off your rig OR mine a different coin would be the choices left.
  • JustCauseJustCause Member Posts: 29
    Well there is lot of selfish miners :) They would like that they are last person entered in mining world.
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