Want to start mining guide me please

[Coolday]

Hi

 

Because of no work I wanted to start mining . I read that GPU is not profitable any more ? any way I can buy 2 or 3 asic miners but what is best ? and what currency I use ? please advise.

 

 

[Fasauceome]

You would see a very, very long return on investment time with a small group of asic miners. You really can't use mining to replace a job, and by the time you start to turn a profit, the vaccine for Covid 19 will probably have been available for a long time 

[5x5]

It's not profitable. Hasn't been for years at this point.

[TetraSky]

Don't bother. The only ones making money at this point, are the large mining farms with their own solar/wind power or some shit like that.

You'll never recoup your money if you start now.

Mining was only ever profitable for the layperson when it first started and if you held onto your virtual coins.

[j1philli]

7 hours ago, Coolday said:

Hi

 

Because of no work I wanted to start mining . I read that GPU is not profitable any more ? any way I can buy 2 or 3 asic miners but what is best ? and what currency I use ? please advise.

 

 

Not profitable anymore, don't even try

[Unilevers]

i mine on 1070 SC's on cheap power.  I make a profit but very little and the machines have already returned the investment from previous when ETH was high.  Granted i have ~36 of them running at any given time i do make a profit, but the margins are small and tight.  I would advise against anyone getting into this if you haven't already got the hardware and dont have cheap commercial power as you will just lose most likely.

[RollinLower]

1 hour ago, Unilevers said:

i mine on 1070 SC's on cheap power.  I make a profit but very little and the machines have already returned the investment from previous when ETH was high.  Granted i have ~36 of them running at any given time i do make a profit, but the margins are small and tight.  I would advise against anyone getting into this if you haven't already got the hardware and dont have cheap commercial power as you will just lose most likely.

just curious: how tight are we speaking here? does it occur that you are losing money periodically?

[Coolday]

On 5/26/2020 at 6:10 PM, Unilevers said:

i mine on 1070 SC's on cheap power.  I make a profit but very little and the machines have already returned the investment from previous when ETH was high.  Granted i have ~36 of them running at any given time i do make a profit, but the margins are small and tight.  I would advise against anyone getting into this if you haven't already got the hardware and dont have cheap commercial power as you will just lose most likely.

36 Card ? can you help me calc the profit if power cost is 0 ?

[Unilevers]

https://whattomine.com/

 

fairly easy calculator that you can set to whatever you have, just set the power price to 0$/kwh if you have free power

[Unilevers]

On 5/26/2020 at 11:40 AM, RollinLower said:

just curious: how tight are we speaking here? does it occur that you are losing money periodically?

So far i haven't lost money but when ETH was down bad months ago it was only break even.  Currently im making small amounts still but you very much have to tweak your rigs for power efficiency.  I have some rx580's hanging around and trying to mine profitably with those is impossible they use way to much power and create way too much heat.

 

again i repeat unless you already have the hardware and have cheap/free power you will lose.  where i live residential power comes out to about 18 cents per kwh after the fees and its not feasible.  I am not paying that rate and its still not great.