I know a lot of you trade coins, but what about mining? Anyone here who has made experiences...

I know a lot of you trade coins, but what about mining? Anyone here who has made experiences? I calculated how much wattage a miner takes and how much BTC it produces monthly in average if you join a pool and even just having a single AntMiner S9 should get me around 900$ a month if the price of a BTC stays at around 10.000$. Minus 200$ electricity and pool fees this is still 700$ a month, the miner would be paid off within three months and from then on it's profit only. I would be only screwed if BTC suddenly goes down hard within the next three months.
Is there something else i am missing? Because it can't be this fucking easy. I don't want to make a fortune btw just some pocket money.

Mining is unprofitable

DELET THIS

I bought from Bitmain. Dumbest decision of my life. Made more money selling the mining sons of bitches to even bigger idiots than me than mining.

I have a small botnet that mines xmr with 50k h/s
It's ok.

What went wrong?

youll make more money flipping miners than actually mining

i bought a shitton of s7's for $670 USD and sold them for $2000CAD each a couple weeks later right before the January dump

Research Elastos

The numbers are bullshit

Built a rig last May to mine eth. I stupidly sold my coins as I got them until the rig was paid off instead of just holding. Overall can't complain, it's like an extra $30 to run a month and gives me a couple hundred dollars plus heating my apartment throughout winter. I'm moving to a new place where electricity is free in a bit so I'll speculate on whatever I feel like. I think the best part is that I've never spent money on crypto and all my coins are under throwaway emails on various exchanges so I don't really have to worry about the IRS. Yet.

>I stupidly sold my coins as I got them until the rig was paid off instead of just holding
I'll keep that in mind, can you tell me what you mined with? Honestly i don't have much knowledge at all about mining, i've only did some rough calculations to see if profits are possible but i lack details and experience, the more you can tell me the better. I don't want to trust Mineforums because they're filled with advertisement and other false garbage.

mining is not going to be profitable because adjusting difficulty. Research that before getting into.

I thought the exchanges required 2FA to withdraw? Which ones do you use?

I dunno how much help I can be. I bought some RX570's as soon as they launched with a 30% off summer sale through jet. So I got them under msrp shipped. That's where the biggest cost seems to come in, the gpus. I have no clue about the asics. I've never worked with them.

*and personal wallets. Had a bunch of xmr on polo. Just need to confirm the withdrawals through the throwaway email.

Mining btc sucks

you can make a little mining alt coins, but profits is very small and mostly not worth.

My friend mines and he just stores the profits on hope they go up one day so he can claim he made money mining. If he were to market sell he'd make like 10$ a day

just curious but would a bunch of old dekstop PCs be of any use mining shitcoins

there is mining calculators that could tell you exactly how effective they would be

but probably not

Don't mine bitcoins with that. Maybe Monero?

I am planing to join a mining pool to deal with this. Or hast the difficulty become so high that even those are useless by now?

Haven't graphic cards become really inefficient for mining? At least for BTC as far as i heard.

Do you know which altcoins? How many miners does he have? If it's a single miner and 10$ a day / 300$ a month than that's plenty enough for me.

where'd you acquire the botnet, though?

I didn't think so but i have them just collecting dust

one can dream...

he has one 1080ti, and mines vertcoin. I said 10$/day but it's probably closer to 7

Link to buy that

Yes, graphics cards are worthless for btc and pretty inefficient for eth now too.

Just go to whattomine and type in your specs and it'll give you a rough estimate of how much you'll make. It was pretty accurate (within +/- 10%) for me. I never messed around with custom bios or anything though. $10 a day / $300 a month is very feasible.

the difficulty of xmr has really skyrocketed recently. I'm not sure that's worth mining either.

10$ revenue a day is for a starting cost of about 3000 dollars.

I mine, and invest

You dont wanna compete w $env

You are wrong. You get 11$ a day or so with one. Also, they cost near 5,000$, you won’t get one for 2,100$.

>Just go to whattomine
this website has more coins listed
crypto-coinz.net/crypto-calculator/

I mined about 15 Eth when it was around $10 a coin but thought it'd never be worth more so I spent it on lsd.

thanks, I'll look at this too. Right now I'm just contributing to the zcl fund for btcp. Once that's over in another day, I'll speculate on something new.

I don't know how that user does that, but many devs put them into Apps, Programs, Websites or Viruses. For example some chinks made a free games, put them on the appstore, then millions of people downloaded the games and their smartphones became shadowminers for their botnet.

Looked into whattomine, one 1080ti shows me a revenue of about 3$ in 24h. My current card would give me 2$. Is there a reason why it is so low right now?

I just realized myself i highly overestimated the profit of ASICs. I could get one for cheap, but still it would take several months until i get back the investment.

I'm running 5 cards in mine (can hold up to 6) and that's how I can get $10 ish dollars a day. You're not really going to compete with farms. Thats why I'm mostly speculating on shitcoins.

How important is running your own miner? You could look into giga-watt.

How much would a litecoin miner cost?

Hate to crash on your thread mate but i have 5 normal computers and one z400 setting on my house , basically open 18/24h (i use them for work)
How much $ can i get on them if i put them all to minning on the side ?

I only thought about it because i have access to cheap electricity and pseudo heating my home in winter as nice side effect while making a bit of pocket money. I also thought that i could get back my investment within 3 months, however i've realized it might take nearly a year before it becomes profitable and i have no idea how the coin environment will develop within that time. Might as well buy a sunny plot, invest into solar panels and sell electricity for more secure profit, considering that electricity is always needed and the price isn't fluctuating as much.

difficulty went up, price of bitcoin went down...HARD
i literally watched my mining profitability go down down down every day from dec 23 on...just absolutely abysmal

I was getting close to hitting the order button on an s9 over the last few days but if you look at it close, it doesn't make alot of sense. The payoff time is fucked and you are better off spending that kind of money building a GPU miner....

When the L3 litecoin miner released, it was worth getting, but right now mining is in the shitter for s9's which are current state of the art. IF, and its a huge IF, you could get your hands on one for say, under 2k, then yeah sure. Also realize, s9's are fucking loud, like seriously insanely loud. You can't have one of them like, in an apartment without soundproofing it. Tons of youtube vidoes on this...

>I just realized myself i highly overestimated the profit of ASICs. I could get one for cheap, but still it would take several months until i get back the investment.

are you saying you can get an s9 cheap? like and it actually is a working unit? what is cheap to you?

Don't believe online calculators. Until you start tweaking you have no idea what hash rate you're going to get and what the cost to run will be. I'm making $1/day per 1070, would have been better to take all that hardware capex money, swing trade one dip for 1%, ROI = 10 minutes instead of 3 months. It's a fun hobby, but the mining ship has sailed. Also, worst part is your rig finding a block and sharing the rewards- if I solo mined I would have made more than taking shares in a pool. Also KYS fag.

stop lying faggot. my 1070 makes $3 a day

Brainlet confirmed. You are staking your mining gains on current prices dumbass. Save all your coins up and sell this december for x10 gains. Profit?

I mine, make 7$ a day, got free power and already had the hardware, thats 10 linkies a day, everyday, even when im asleep, feelsgoodman.

Imagine thinking convincing more people to go mining is a good thing for miners. Dullard.

>$1 a day
>solomining being worth it.
Dumbass your rewards are the same in the long run anyway. Short run is just a gamble.

I can't deny that statistically you are correct, in the same way that statistically it will take six rolls to get a six. However I'm not taking theory, I'm talking the actual number of blocks my workers have found versus how much I've been paid over that time. So when I say it would have been more profitable for me to solo mine, it's because it would have been more profitable for me to solo mine UP TO NOW. Obviously over longer periods you are more likely to be correct and solo mining is less likely to represent a better value proposition than pool. Especially if you change coins frequently.

Do your own research faggotron

...

So Asics are pointless
They are overpriced and won't pay themselves with the current market.
Unless the coin you mine goes like 10x

IDK if my GPU rig will ever make money.
I'm betting on Luxcoin to go at least 3x in 1 year.Making $13 a day at 420Watts
If not, I can just sell the GPUs

Theres basicaly 3 ways to mine.
Asic mining / extremely expensive and requires a huge initial investment.
2. Nicehash/miningpoolhub mining. Safemode with steady income, fluctuates with the price of btc and shitcoins.
3. Yolo mode; mine shitcoins under the radar/ yet to be released on exchanges/cmc etc. Can be extremely profitable or a complete waste of time/electricity. Imagine mining eth @ 1$ but having iron hands and hodling for years.

Mined for 2 months when the reward was around 40/day
Then sold the miners for 4x to some boomer.
Mining with gpus only now.

I'm mining etc with my gaming computer that I no longer have time to game with, it's barely any power usage at all and the coin is still only 30-40 dollars so great choice just don't touch what you mine

Thats like flipping a coin 100x lucking into 70/100 heads and deducing heads is thusfore better. Lmao it's just a random dice roll small sample that got you lucky.

dropped 3400 in December, currently hoping to double my money if bitcoin holds, or tipple if bitcoin goes up

>bit corn miner
>tipple my monie

I already mined 0.1 of a bitcoin, stay mad ChainLink investor

>So Asics are pointless
stopped reading because you are retarded

mining profits have been down for last couple months compared to last year. I got 30 ASIC miners running on 200 amp service and pay around 3k a month electric and daily profits are around 400

That's like gambling on 100x coin flip and betting you will have 50 heads, 50 tails, then actually getting 75+ heads and saying "It would have been better had I bet all on heads" and then retards coming along with hurr durr no because over a long period it's all equal. If you can't see the difference then I have some Link to sell you.