I was wondering if it was still worth it.
I have this great idea to build a mining rig from a random old pc for like 50$ + a 120$ hd7970 maximum around 200$
by the looks of it the hd7970 will reach 20mh/s with current price and diff im looking at like 258$ a years (min power costs (0,067$ for me) (200$)) and if i even subtract the cost of the build its still 60$ or 5$/month in the 1st year.
and heck even if they go to PoS I got a upgraded gpu (if its not fried) for in my main gaming rig (currently hd6970) and a random pc to do stuff with. would you guys agree ? is it still worth it ? or do you have suggestions ? leave a comment
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I guess it's perspective and risk level.
EDIT: Just for reference, ETH first sale price was 0.0005, today its 0.0192, peak was about 0.03. so thats a 38x increase or 60x peak. You will not see this kind of increase ever again with this coin but you might see it with something else in the future. You could hope for a long term 5-10x (2years) increase at best.
I built the rig 3 weeks ago, with a budget of 1200$, I think my whole rig cost 1150$. From the 3 weeks I've been mining and testing pools just for fun, with my hashrate I was able to make ~210$ a month. Now, 3 weeks later, that monthly amount has gone down to ~173$ a month. 3 weeks ago I was able to ROI in 6 months with assumptions from calcs saying what they said at the time. Now it will take me 225 days to ROI. I'm returning everything Tuesday to Amazon. In another 3 weeks, I assume I'll lose another ~43$, and that monthly ROI will be getting smaller and smaller.
If I had 10,000$ and bought super cheap/used stuff, I can definitely make my money back, but it will be slower than the speed of smell.
I'm still on the edge about keeping the miner and have until Tuesday to pack everything and send it off. It's a fun hobby watching the numbers go up(or down). I think it would be fun to get into trading, but I don't have the know how. I probably do, but not like what I assume are professional day traders in real life making a living.
I could ROI my whole rig in the first 6months if I wasn't so naive and stubborn to sell BLK, which at that time was the best coin in my opinion, I saw the future in that so I held and held while the price increased almost 100x and back to oblivion, I never sold it, lost about 20BTC with that. This coin only had 1 week of mining, then I moved to vertcoin, I mined that for more than a year and the price was just going down and down, I lost hope and interest aswell and one day the price of it went up, not insanely but since people didn't mine it (price too low), it was pretty easy to get alot of it, so that one year of mining got me about 20BTC, my first real btc exchange was 2016 july-august? I waited 18months to see any return, then ethereum came, which made another 20btc aprox coz I traded so badly, sold about 1k, first batch at 0.016k (peak at that time), then at 0.026 (well now its 0.019 so it wasn't that bad but it had 0.035 peak). Looking back now it was worth it but it all depends on which coin you mine, which one you believe in for long term and when do you sell, if I would have sold eth at 5x price increase (from first appearance on exchange) and would give up on vert when everyone else did, I'd have like 10 btc in total, if that. And if I gave up on BTC aswell, I'd be selling it at 250-300$. So if you go long term, you kinda have to see your money and time fly out the window sometimes.