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Mining seems to have become profitable again..

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#1
at least compared to the 16 dollars a day i was seeing four months back when i started.. 10 x 1070 cards mining eth on nanopool..

the calculator figure is the weekly figure x 52..





trog
 
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#2
Profitability will always go up and down, not surprising it bounced back.
 
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#3
having said that the actual the mining profits pale into insignificance compared to buying and hodling.. :)

but the mining rig is looking okay.. as the price of eth goes up so so does the profit.. over the last few days i have watched the eth mining profits go up from 27 dollars per day to 43 dollars per day.. eth has been on a nice roll.. :)

trog
 
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#4
yeah just looked at my 24 hour earnings, up ~40%. sweet!
 
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#5
yeah just looked at my 24 hour earnings, up ~40%. sweet!
one eth is now at $1112 us dollars.. the miner shows 44.67 dollars per day.. its gone up a tad.. over 300 dollars per week

eth has gone up %146 over the last month and %56 over the last week..

if eth does the same this coming year as bitcoin did last year we would be looking at $20000 dollars per eth at years end.. he he he

trog

ps.. at the end of the day eth is up to $1220.. its certainly on a roll.. :)
 
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cdawall

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#6
That is probably one of the least profitable coins you could mine with 1070's. Mining never became unprofitable you just didn't know what to mine.
 
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#7
That is probably one of the least profitable coins you could mine with 1070's. Mining never became unprofitable you just didn't know what to mine.
i sometimes wonder if we are on the same planet.. four months back when i started on nicehash.. my daily payout was around 17 us dollars.. its now showing around 55 dollars on nicehash with the same hardware.. what was not worth the hardware cost is now well worth it..

buying and holding still makes much more money though.. he he

trog
 
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#9
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#10
10x 1070=what 4,000$?'ish? Keep mining:laugh: bud

My electric rates would kill me doing that
i am in the UK.. readily available 1070 cards are now running around £450.. we pay %20 tax.. i guess $450 dollars would be the US price..

trog

Yes, and at present rates they'll pay for themselves in about 3-5 months.



Not vs earnings. That is kind of the point.
i estimate six months for me.. but being in the UK we pay more for everything.. he he

i mine and hold so three months may be nearer the mark.. it all depends on how whatever i mine goes up in values over the coming months.. :)

trog
 
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#11
Yes, and at present rates they'll pay for themselves in about 3-4 months.



Not vs earnings. That is kind of the point.
Having time to wait months and months to gain earnings ,dollar by dollar is not something that my finances would allow me to do without being willing to commit financial suicide . Hence my commnt.Disposable income is a large factor in mining. I care for three children of my own ,& two that are not mine. Which is why I said the Electric rates would kill me. Maybe for you and others spending thousands and thousands of dollars on expensive video cards is a possibility (obviously it is) for me it's not .I have more important things to spend my money on ,like humans.

my monthly electric bill is roughly $400.month AS IS. imagine what adding a mining farm would do?
 
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#12
Having time to wait months and months to gain earnings ,dollar by dollar is not something that my finances would allow me to do without being willing to commit financial suicide . Hence my commnt.
Fair enough.
 

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#13
i am in the UK.. readily available 1070 cards are now running around £450.. we pay %20 tax.. i guess $450 dollars would be the US price..

trog



i estimate six months for me.. but being in the UK we pay more for everything.. he he

i mine and hold so three months may be nearer the mark.. it all depends on how whatever i mine goes up in values over the coming months.. :)

trog
Such a terrible comment, after living in the UK for 30 years and 15 in the US, the comment is wrong on so many levels.

Anyways, As @R-T-B said it's a roller coaster, to me it's not worth the risk as the electric company would truely screw us on ery high power usages.
 
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#14
to me it's not worth the risk as the electric company would truely screw us on ery high power usages.
my point exactly. its like pushing a boulder up a hill....Yes, once its at the top, the way down is VERY easy, & the boulder rolls itself, but getting it up the hill is a Real B!tch ;)
 
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#15
i am lucky enough to have some spare cash and dont really need the extra money.. i can spend a bit to gain a bit..

sadly it would seem that those that do need extra income dont have the means (spare cash) to get it..

during December i started buying crypto.. so far i have spent five grand i had sat in the bank doing f-ck all.. apart from giving the bank something to gamble with..

that five grand is now worth twelve and half grand.. a nice profit of seven grand in UK pounds.. about £1500 per week ($2000) and this will keep going up..

as i keep saying in this thread.. mining crypto aint the way to make money from it.. why do i feel f-cking guilty..

i have planted the seed corn all have to do now is sit back and watch it grow.. i built the miner for fun and am running it for fun..

trog
 
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#16
as i keep saying in this thread.. mining crypto aint the way to make money from it.. why do i feel f-cking guilty..
This is the truth.

That said, you can make money from it. But you'll always do better investing if you can hold on to your currency and make smart choices.
 

cdawall

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#17
i sometimes wonder if we are on the same planet.. four months back when i started on nicehash.. my daily payout was around 17 us dollars.. its now showing around 55 dollars on nicehash with the same hardware.. what was not worth the hardware cost is now well worth it..

buying and holding still makes much more money though.. he he

trog
There have always been things other than nicehash with coins that were more profitable. So no we aren't on the same planet.
 
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#18
a current example of zcash (zec) profits on nanopool very similar to eth profits..

purely for a change i will mine zec for a while..



i wont reply to you cdawall cos it would not be polite.. he he

trog

ps.. nah on seconds thoughts cd i recon your comment was quite witty.. but i am so far doing okay in ignoranceville.. :)
 
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#19
Yea, funny enough I mined a bunch of different coins including dogecoin just for a couple of months on my main mining rig and they all shot up in value (Never thought the dogecoin would come back, at one point all the ones I had value around $200 and now its near $20000. I still should have done etherum or similar but I am considering rebuilding a rig and starting back up mining some other coins again as many of them are shooting up in value.
 
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#20
The only coin rise that really blindsided me (twice) was Dogecoin. What a funny little coin that thing is. I guess I should've known, it's an internet meme afterall...
 
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#21
The only coin rise that really blindsided me (twice) was Dogecoin. What a funny little coin that thing is. I guess I should've known, it's an internet meme afterall...
Yea, I mined it mostly for the heck of it and as a joke (Especially when I heard they were sponsoring a Nascar). Forgot I had the machine set to it and ended up with over 2000000 dogecoins last I checked. I thought its value was just going to keep dropping but now its worth more than a penny each which made me do a double check.
 
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#22
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cdawall

where the hell are my stars
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#23
a current example of zcash (zec) profits on nanopool very similar to eth profits..

purely for a change i will mine zec for a while..



i wont reply to you cdawall cos it would not be polite.. he he

trog

ps.. nah on seconds thoughts cd i recon your comment was quite witty.. but i am so far doing okay in ignoranceville.. :)
That still isn't even close to the most profitable coin for those cards
 

cdawall

where the hell are my stars
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#24
I can get you plenty of 1030's
 
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bogmali

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#25
Thread cleansed of OT stuff and rants.
 
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