Is it worth getting into mining at this point

Cloud9ningaCloud9ninga Member Posts: 1
Hey guys, I am new to the mining side of crypto, and I am wondering if I get in now with a few 6 or 8 card miners (3 or 4) do think it will be worth my time and money? I have access to cheap electricity and I'm looking at getting up to around 960ish mhs with 34 rx580s. Do you think the rigs will ROI in a reasonable amount of time?

I'm looking for opinions on increased diff, the change to POS? I have heard eth will fork at that time so will enough stick with POW to keep mining viable?

Also what are the best alts to mine in dual?

Finally since Vega has not been quite as profitable as some hoped is there new tech in the pipeline thats gonna keep this viable for the next couple years?

Thanks for your input

Comments

  • EtherGeekEtherGeek Member Posts: 34
    Hard to say, I would start with a smaller operation, less risk, will see for your self how it goes. Good luck!
  • theclamtheclam Member Posts: 91
    i have been mining since very early 2013. Every few months it seems like it is almost over... Yet, i'm still mining profitably. You need to plan out buying your gear, timing when to sell it and upgrade/switch to new gear. i would diversify your mining across GPU Rig and ASICs. Diversity will be important.
  • lablettlablett Member Posts: 331 ✭✭
    If you want to make money then just buy Eth. If you want a second girlfriend/wife then buy some rigs !;-) My point being since you have no experience(no offence!) you will have to go through much pain to get to last base/rig ;-) The key question is how much free time do you have as this will be required for the initial build an ongoing issues/learning ? Where are u based ?
  • EtherGeekEtherGeek Member Posts: 34
    @lablett I can confirm what you say - agreed 100%
  • JonC5ZJonC5Z Member Posts: 27
    Are 4gb cards ok to use with the new AMD mining drivers? Or theoretically say ETH does not switch to POS for another year, will we need to be using 8gb cards to mine ETH that far ahead?
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