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At What Point Does Mining Begin to Be Profitable Again?

Discussion in 'CryptoCurrency' started by FistFullOfCash, Apr 15, 2019.

  1. FistFullOfCash

    FistFullOfCash Newbie

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    I was looking at expensive mining equitment months back and the callcenter worker told me after some questioning that it would have to be at $12,000-14,000 for BTC to be profitable beyond electrical costs. That seems a lot to me. Has it changed?

    He said they recommended mining Zcash, but since Ive been monitoring crypto it seems the prices kinda rise and decline with BTC. I wouldnt want to buy used equitment as the graphics cards would probably be worn, right? Those Antminers dont really work anymore for mining too, right? Cloudminings a joke. If prices were to creep back up to $10,000 a coin and you saw it going higher and higher, what would you invest in?

    Would there be any rigs worth buying? I ask because the price has increased recently back beyond the $5000 range. Oddly I dont see much on Craigslist as of now in my locality.

    Im not too knowledgeable on the subject of mining, but I found BTC early on, just missed the boat to invest too many times. Things always seemed to get in the way.
     
  2. bangladejul

    bangladejul Junior Member

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    I have not done any mining in house. But mining should be profitable again when the price will start increase like it was during Dec when there was boom in Bitcoin. The new mining equipment's should be cheaper now as compared to during that time. So you may wanna stack up on it now. Wait till you get some expert advice on this thread!
     
  3. Tom_Hunter

    Tom_Hunter Jr. VIP Jr. VIP Premium Member

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    Depends on the price of your electricity too.
     
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  4. Bagels

    Bagels Newbie

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    Waiting for expert advice
     
  5. DE_GAME

    DE_GAME Power Member

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    Think you should consider finding a means to earn as little $20 daily online ,invest it into cryptocurrency than mining it unless its a new coin with very little miners. the reward for mining this popular coins aren't worth believe me waste of time. The more popular a coin gets the more miners in the pool the less the reward. I prefer making money online and invest into ICO and other cryptocurrency then to spend huge amount of money to buy powerful mining equipment .
     
  6. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP

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  7. tomatuga

    tomatuga Newbie

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    I've been mining since 2013. The best time to mine is when it's "unprofitable". As long as you can afford the electricity bill anyway...
     
  8. leadingsmm

    leadingsmm Jr. VIP Jr. VIP

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    If we are paying 15k$ and up..
    And wondering about electricity..can’t we buy a specific solar panels for it? Or mining really consumes alot?
     
  9. CryptoKujira

    CryptoKujira Regular Member

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    Calculate power usage
    coinwarz.com/calculators
    whattomine.com

    Ton of calculator sites out there.
     
  10. Clairvoyance Sopheriel

    Clairvoyance Sopheriel Newbie

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    I have learned from a friend who got into mining cryptocurrency he said if he knew about it, he would have been doing this long time ago, but it seemed its kinda difficult to earn much out of mining especially with a country like mine where the electricity is quite expensive. Still am considering the idea of maybe venturing on mining, who knows it would be profitable again to get into this at this time.
     
  11. Gogol

    Gogol Jr. VIP Jr. VIP

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    Price of solar panels + efficiency + lifespan of a solar panel is not suitable for mining AFAIK. Only if you had hydroelectric for free, it could be profitable.
     
  12. AngelSeo

    AngelSeo Jr. VIP Jr. VIP

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    When prices raise, more people start mining which raise the difficulty. So looking only at the price solely, is not good enough.
     
  13. nonin

    nonin Jr. VIP Jr. VIP

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    Bought a car with crypto // in tough times paid rent with crypto (the prices were "a bit" higher a while ago)

    .. still have 2 gpu rigs (+1 with 1gpu only running) that have paid off already.

    .. one could say: nothing much, just $60+ month https://ethermine.org/miners/db017af7539493866b52ed0e8f58877111930a3e/payouts though hey > electricity is included in my rent, so everything is pure profit and that's $700/year :) .. every little helps ;)

    In that price range > you are probably looking into some new asics. The thing about asics > their profitability keeps dropping like crazy > the trick is to get asics from batch 1, mine with them 2-3 months and resell.

    which miners are you looking into?

    as for gpu miners.. $10k could give you 1ghs of mining power on eth > again, it is important to have a clear strategy how to resell the gpus after 6 months of mining (make sure you have boxes and warranties - people love that).

    As said before > your electricity price is the 1st key element.

    gl