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why so little interest in mining?

Go to solution Solved by tikker,

There is interest in mining here. There's just not that much to it? All we can say is oh look at my <insert number> Mh/s. Other than that it's set it and forget it, and discussing your holdings and profits on the internet is just a bad idea.

1 hour ago, jwwagner25 said:

well that is definitely not true. All it takes is one GPU to start. In 12 months I have around .35 ETH, several chia coins, and some raptoreum. it's passive income that takes minutes to set up. I think it got a bad name because of GPU shortage; also misbelief that it takes insane time/money to get up and running. It's just like any other hobby or business venture; you can invest thousands of dollars initially or just go in with what you have. I did the latter, and have what I consider to be substantial holdings based off about 30 mins of 'work'. just my .02; thanks for posting. 

Jake 

It does take money to set up. The problem is the unpredictability. Currently we are deep into a bull market, making it an ever riskier bet to purchase expensive mining equipment than it normally already is. You are looking at ROIs of 6-12 months if you buy a GPU and that is assuming the market remains as profitable as it is now. Since we do not know what the crypto market will be in 6 months, it's quite a gamble to lock up $1000, which you won't see back until a year later, for mining.

 

Secondly there's the old adage about time in the market. If you are only in it for the profits and not the GPU, then you might as well invest that $1000 directly by simply buying crypto. Easier, faster and more profitable if the market continues to go up over the subsequent months.

59 minutes ago, jwwagner25 said:

but as far as your idea that a person would be paying more in electricity than what they get back in coin is silly

I mean it's true for old cards and it depends on how expensive your electricity is. Some places it's dirt cheap at <$0.1 per kWh and other palces it's much more expensive. Over here it's $0.27 per kWh and in Germany it's even $0.36 per kWh. The market is favourable at the moment, making most GPUs profitable, so it becomes a game of diminishing returns. Is less than $1 a day worth it? That's basically the choice.

32 minutes ago, rkv_2401 said:

Not to mention, the value of the coin you're speaking of has gone up 6x in that time-frame.

Plus this bull market has been going for so long now. My general sentiment is that it's a bad time to get into mining, because of that. Honestly I also don't know, however, so this could also be a stabilising sign, but well do you want that uncertainty in the middle of a pandemic lol.

9 hours ago, tikker said:

Orders at chip fabs are made in advance and they make more than our GPUs. They can't just hit the turbo button and start producing more on a whim. Sure they can try and pull a fast one on people, but if the fabs are all saying they're at or very close to capacity I'm not inclined to believe that. I'd like to believe we are still sane enough that we're not wasting many many tens of billions of dollars on building new foundries while operating the current ones at "half" capacity to keep up the facade of a shortage.

Show me a fab running at half capacity and I will show you a fab losing millions of dollars a day or I will show you a mom and pop fab making large geometry parts with 10+ year old equipment on even older processes.  Nothing that would be found in modern GPUs.   Fabs are designed to run at max capacity, that is how they make money.  If they are not full they are 98% full leaving a little room for tool issues so they can catch up.  

 

I live in the fab world and I can tell you there is no untapped capacity out there waiting, everyone is running at full tilt.

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