Mining, is it really profitable?

[dragosudeki]

From what I've seen we are at 12 suicides this year in the financial world. ONE of those was Btc related. Looks like the banking world isn't doing so well.

Add 2 exchanges freezing wallets (another one followed mtgox). If this continues, bitcoin may lose face and plummet.

[DIV1D3]

This. There is also a lot more out there then just Scrypt coins and Vtc. Some of theses new coins are actually much nicer to mine too, the cards run much cooler and more power efficiently.

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Your build was kinda changing,what exactly was it again? From what I saw you were on the right track. 280x is a very nice card for mining and can be run without getting any desktop lag.

Umm, well atm I'm on my phone so I can't give you pics but its as follows:

Silverstone Strider Gold Evolution 1200

Intel Pentium G3220

Corsair Vengeance 8GB 1600MHz CL9 ( I want to get this just because its only $60 with free shipping, btw it's on eBay, with 5+ buyers already since the 22nd)

3 Gigabyte R9 280X OC ( already bought these just yesterday)

ASRock Fatal1ty Z87 Killer ( I already own this)

And x4 1x to 16x powered risers (yet to arrive) and x2 16x powered risers.

So that is my final build, what do you guys thing? Gotta go, I'll reply to everyone else in the arvo.

[DIV1D3]

I'm late to the game here and I'm not going to scroll through all three pages since I only have a few minutes, but here is my $0.02.

With the current generation of cards available they are only so profitable. Sure you can buy TONS of them, but the profitability is the same. You can buy ten R9 290X's and it would be equally as profitable as having one. The one with ten cards would obviously make more money overall, but of course they would marginally make the same. (e.g. 0.6% of their money back everyday)

What is the short answer of is mining profitable? Kinda.

Well the way I see it is that I can mine with those 3 cards, then if I'm not making as much as id like and dont see a future in VTC or whatever it may be I could either sell the cards or I could mine a coin that has a super low difficulty.

[Hikaru12]

What the heck how is this thread still rolling? Of course mining is profitable if done right. 

 

It's something that is time based and equipment based. Requires thinking and monitoring of the crypto-currencies in question. 

Boom done!

 

Or programming your own.  :lol:

[Fred Castellum]

Or programming your own.  :lol:

Send me some free coins if you make it big hehe

[Pelop17]

Well the way I see it is that I can mine with those 3 cards, then if I'm not making as much as id like and dont see a future in VTC or whatever it may be I could either sell the cards or I could mine a coin that has a super low difficulty.

i also started using cloud mining. I personally think thats is not good. I though that it will give me some ghs to mine btc but in the end you have to put the Bitcoins that you have already buy/mine to your account in cloud. Yoou have to sell them and get ghs. Why to do that?

You can sell your bitcoins and at the end like today you can exchange your money to get a higher profit

[DIV1D3]

I think it was profitable before. Getting into it now isn't too great as I think bitcoin will remain stable at its current price and bitcoin is losing its public appeal to governments with all the losses and suicides associated with it.

But I won't mine BTC, Idk why so many people think I want to mine BTC, Ik it is a dead end for starting miners. I'm looking into VTC and other coins that use the Scrypt-N algorithm, or if it is more profitable than I'll go with Scrypt-Jane. 

Also Idk why you added that last part, that is completely irrelevant to what I'd like to know. 

 

From what I've seen we are at 12 suicides this year in the financial world. ONE of those was Btc related. Looks like the banking world isn't doing so well.

Well what about The Great Depression, that many people killed themselves probably in one day. 

[DIV1D3]

i also started using cloud mining. I personally think thats is not good. I though that it will give me some ghs to mine btc but in the end you have to put the Bitcoins that you have already buy/mine to your account in cloud. Yoou have to sell them and get ghs. Why to do that?

You can sell your bitcoins and at the end like today you can exchange your money to get a higher profit

I just don't see any future for myself in anything other than mining, cryptocurrency related. 

[DIV1D3]

Anyways, what do you guys think of that RAM? I really would like to get it as it is only $60 and I'm pretty sure it's no scam as 8 other have ordered in the past three days. I'm actually thinking of getting 2 of them just because 16GB for $120 is a huge score. 

[TheProfosist]

Its really not profitable unless you can get free or nearly free power. This has been known for a looong time. The most money is always in the beginning. Its really supposed to be like this remember its a currency not a stock.

[DIV1D3]

Its really not profitable unless you can get free or nearly free power. This has been known for a looong time. The most money is always in the beginning. Its really supposed to be like this remember its a currency not a stock.

I said, I'm not going to be paying for electricity. Only when I get my money back and X amount I will start to give my roommate some moneys. Ik it's a very long thread but it'd be nice if you read at least my comments so you know whats happening.

[Shack Tastic]

If you truly believe in VTC, then put that money into buying VTC while its still cheap. You'll make way more money. I'm buying up all the cheap VTC i can right now.

[DIV1D3]

If you truly believe in VTC, then put that money into buying VTC while its still cheap. You'll make way more money. I'm buying up all the cheap VTC i can right now.

I've already bought the 280Xs, I'd be able to sell them later on anyways or keep two of them and I won't have to buy a 290. 

[Sonefiler]

Mine DOGE. Doge coin to the moon.

[DIV1D3]

Mine DOGE. Doge coin to the moon.

Scrypt ASICs are out and more are coming, no thanks.