Mining is profitable or not ?

gshenusagshenusa Member Posts: 3

Mining is profitable or not ? 7 votes

Yes
42%
ciprianptsuthekmariklark 3 votes
No
57%
rb3rgcjclm7BidragoMrCrypEth 4 votes

Comments

  • rmhrmh Member Posts: 410 ✭✭✭
    This question depends on a lot of factors.
  • LPideLPide Member Posts: 17
    depends on your build, your electricity builds, what type of currency you are mining, market price, etc.
  • mariklarkmariklark Member Posts: 2
    Yes
    It's hard questionIt depends on many factors ranging from the price of electricity to some laws un the country
  • BidragoBidrago Member Posts: 6
    No
    It is profitable is you have very low electricity costs and 20 months to mine.
  • rb3rgrb3rg Member Posts: 4
    No
    At this price it is not.
    You should always think in ETH.
    How many ETH to build a Rig and how long will take the Rig to mine the same amount of ETH? Remember you have to pay for the electricity.
    If you think in mine and HODL because the price will go up then the best deal is to buy ETH instead of build a Rig.
  • asusrigasusrig Member Posts: 141
    edited June 2018
    rb3rg said:

    At this price it is not.
    You should always think in ETH.
    How many ETH to build a Rig and how long will take the Rig to mine the same amount of ETH? Remember you have to pay for the electricity.
    If you think in mine and HODL because the price will go up then the best deal is to buy ETH instead of build a Rig.

    Yes it is risky. I think a lot of people that built rigs in November / December 2017 and later will have to wait longer than 1 year to ROI. And by then the hardware might become obsolete so you would barely break even. All that effort to deal with heat issues etc. Well at least you learn about HVAC, air flow etc. Lol! I did not learn anything building the rigs since I have been building computers for decades so in that sense there was zero benefit for me.

    One benefit when mining is you can send the ETH to an exchange and buy cheaper altcoins without having to transfer cash from your checking account to Coinbase etc. Especially if you want to make a sudden alt coin purchase and don't want to wait for the funds to transfer over. And it helps prevent impulse overspending by buying coins at the wrong time when the price is too high. At this point I am very reluctant to invest more cash - I have already dumped over $10,000 cash into crypto and need to see some profits before I risk more. In January it looked great but now all profits have been wiped out. Yes we need to be patient but it is frustrating and I expected things to look better than they are currently.
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