Is it worth it?

[BiotechBen]

So I have an RX 480 8GB, NICE HASH says that projected profitability of the card is around $2.50-2.75 a day, would it be worth it to have it mine while I'm asleep and while at work/ not using it? It's an XFX reference design with some extra cooling strapped onto it and aggressive fan curve if above 75°C. I'm not looking to get rich or anything, but a little extra cash here and there as a college kid would be nice...

[Bombastinator]

23 minutes ago, BiotechBen said:

So I have an RX 480 8GB, NICE HASH says that projected profitability of the card is around $2.50-2.75 a day, would it be worth it to have it mine while I'm asleep and while at work/ not using it? It's an XFX reference design with some extra cooling strapped onto it and aggressive fan curve if above 75°C. I'm not looking to get rich or anything, but a little extra cash here and there as a college kid would be nice...

There have been frantic and hardcore warnings about nicehash lately.  On the level of “it’s corrupted with something nasty.  Wipe everything” I don’t know the specifics though.  If you loaded the thing due diligence requires at the very least finding out what is being talked about. 

[tikker]

9 hours ago, BiotechBen said:

So I have an RX 480 8GB, NICE HASH says that projected profitability of the card is around $2.50-2.75 a day, would it be worth it to have it mine while I'm asleep and while at work/ not using it? It's an XFX reference design with some extra cooling strapped onto it and aggressive fan curve if above 75°C. I'm not looking to get rich or anything, but a little extra cash here and there as a college kid would be nice...

If thats after subtracting power then you have your answer. Is $2.50 or less a day (realistically less if you only mine when not using your PC) worth it to you?

[Bombastinator]

Just now, tikker said:

If thats after subtracting power then you have your answer. Is $2.50 or less a day (realistically less if you only mine when not using your PC) worth it to you?

Something like $70/mo.  That’s an entire internet connection bill some places.  An entire months income for some people some places, though those places are often particularly impoverished parts of Africa. The amount of electrical use is scary though.  Also I don’t trust projections from salesmen.  They tend to forget critical details because it is convenient for them.  There’s a lot of high pressure salesmanship revolving around cryptocoin and high pressure salesmanship creates high density BS.  

[tikker]

1 minute ago, Bombastinator said:

Something like $70/mo.  That’s an entire internet connection bill some places.  An entire months income for some people some places, though those places are often particularly impoverished parts of Africa. The amount of electrical use is scary though.  Also I don’t trust projections from salesmen.  They tend to forget critical details because it is convenient for them.  There’s a lot of high pressure salesmanship revolving around cryptocoin and high pressure salesmanship creates high density BS.  

Yeah you are at the mercy of the market. Add to that that NiceHash is a hashrate market place, your earnings will probably be a bit less. Profit will also lower over time if more people join mining and cause the difficulty to go up. OP, the profit that it predicts is the profit at this moment. It's no guarantee for the future. If the market tanks tomorrow, so will profit. Keep that in mind.

[Bombastinator]

3 minutes ago, tikker said:

Yeah you are at the mercy of the market. Add to that that NiceHash is a hashrate market place, your earnings will probably be a bit less. Profit will also lower over time if more people join mining and cause the difficulty to go up. OP, the profit that it predicts is the profit at this moment. It's no guarantee for the future. If the market tanks tomorrow, so will profit. Keep that in mind.

One trigger warning for me is the phrase “as much as” which generally means “less than and we don’t want to say how much less than”

[BiotechBen]

10 hours ago, tikker said:

If thats after subtracting power then you have your answer. Is $2.50 or less a day (realistically less if you only mine when not using your PC) worth it to you?

The $2.50 is after electricity costs and I'd be willing to farm some power out.... This is completely exploratory. I do t really know anything about mining, and was just curious if 2.50 profit/day was worth trying to do mining.

[tikker]

8 hours ago, BiotechBen said:

The $2.50 is after electricity costs and I'd be willing to farm some power out.... This is completely exploratory. I do t really know anything about mining, and was just curious if 2.50 profit/day was worth trying to do mining.

Well this is what mining is. You tweak some settings if you want and hit go. Profitis profit. Only you can say if it's worth it. Is it worth it to you to leave your PC on all day to earn $2.50 relative to the power spent?