Is it even possible to make money with GPU mining right now?

[dentolas 551]

On 10/20/2019 at 10:46 AM, rajib7970 said:

Yes it's possible. I don't know what is the price of per kilowatt electricity in your country. If your investment is low then you get no profit form there. Because mining using gpu is so costly. I don't recommend anyone for mining if electricity is free then you can as much as want.

you are right, the key to mining is the source of electricity... although GPU mining is not as consuming in terms of power, you'll only be able to mine new coins or ASIC resistant ones...

People close shop because of the electrical bill

[dhemasm 219]

Nope, it's been a long time since my last time mining. Since i paying for electrity i dont think it's really profitable if you didn't have any decent equipment, The current situation i think it's not really bad but don't expect so much just take attention some coin GRID, RVN, ETN If you want to mine ,Cheers!!

[dentolas 551]

On 10/20/2019 at 11:30 AM, 1millionClub said:

Your math is way off because you don't take the timing into account.

In 2015 what was the ETH price? $5 or $8? You could have bought more than 100 eth with the money you invested in the mining hardware. The math doesn't add up sorry. It seems you have wasted your time and money.

If you believe ETH will go up in the next 2 years, why not just buy it now?

What he was trying to teach you was that miners control the time when they sell their assets... hidding away from volatility and low prices... this is what BTC miners do (ever wondered about the bull runs and where all that BTC comes from?)... @lucky80 mined a lot of ETH when the difficulty was much lower, and he/she never told you that he had sold it's assets... so, if he is still a holder, the math will bring him a huge profit...

When trading you buy the coin at market price, when "smart" mining you get it cheap at the beginning and hold for future

Edited November 6, 2019 by dentolas

[giash crypto 258]

no. only few graphics cards are profitable to mine with. they will also run out in few months so we need to move to asic miners

[GeorgeDr 3]

Well, from what I can remember, being in the relative beginnings of bitcoin, it was never too profitable to mine an alt-coin. You always would be just above cost of electricity and sometimes below it. Even if you make some of it most of the time is not worth it. The whole market is formed right at the premise of cost-price, so it would be pretty unfair if you could pay 5$ for electricity and make 100$. The catch is that you can mine a coin pretty early on and it's price can go up in the future. Think of it like an investment.  If your goal is fast cash though, you can never be sure in that "business" that the electricity you used and the hard work you put your machine through will pay off. Imagine you mine for 24H and your equipment is destroyed, you already are -300 $ in cost. In my opinion crypto-coins are either a long-time invesments, or an experiment as a hobby.

[Crypto123 0]

In fact I stopped mining because there was a problem with the power supply but I did not try to replace it because of the very bad conditions of mining, very difficult low prices trivial profits, in fact I do not recommend anyone to mining at the moment.

[ibtismanipun 120]

Using GPU for mining is not that much of smart action. You have the enough money to buy a good GPU for mining then you should go for and actual miner (ex. antminer).

[faceless 296]

People will tell you that there were time when mining was profitable, I say depends on where you're from some countries has very electricity costs.

[guatazoo 7150]

For newbies in this mining field, i think not, but for the who have already been mining for such a long time, they know how to manage and get profit.

[Akbor 1042]

Yes, of course. it is possible to earn money by doing gpu mining. this is a good mining process I think. there are many cloud mining who scam with people. gpu mining is good to make money.

[Brushless4500KV 4214]

It depends on which coin you want to mine. Bitcoin mining requires expensive mining equipment but some coins can be mined with GPU. Ethereum is the best coin to be mined with AMD or Nvidia GPU. It uses Ethash proof of work and you can mine it with a GPU rig of 4 - 6 GPUs. ETH has a block reward of 3 ETH per block.

Monero (XMR) is also one of the best coins for GPU mining. It uses CryptoNightV8 proof of work and its block reward is 3.38 Monero per block.

It is not recommended for newbies to purchase mining hardware because it is not just the hardware. You also need to know a lot about mining to earn profit. If you have both the knowledge and the investment required to buy expensive tools then you can earn profit through mining.

[geezer 7582]

8 hours ago, Brushless4500KV said:

Monero (XMR) is also one of the best coins for GPU mining. It uses CryptoNightV8 proof of work and its block reward is 3.38 Monero per block.

This information is not current. It was so 1.5 years ago. As of today Monero uses RandomX and block reward is close to 2 XMR.

[Whydoyoucare 1094]

Its really depends on where your country is, if the electricity in your country is really expensive then mining for you is really not a good option because you will end up all the coins you've mine will end up just paying your expenses on the electricity. 

[Opinder 1310]

Nowadays crypto currency is become more famous and everyone want to mine it , thus number of mining equipment is increasing so mining is totally difficult now. Also if you want to mine then you should mine new coin which have good future. Instead of purchasing mining equipment you can do cloud mining. I am also doing cloud mining.

[lucky80 1046]

21 hours ago, Bololo said:

My goal is to meet some people when new ones are successful. Most likely it will not work. But only one or two is required. Imagine that you are one of the first to receive Bitcoin.

Hey man, what are you talking about? Please tell me what is the relevance with the possibilities in mining? I don't have to imagine anything because I am one of them. Well, at least a bit in 2010.

[lucky80 1046]

49 minutes ago, Bololo said:

So you areamong the lucky ones as you said if I may understand what you are talking of

Hahaha, Whatever! I don't get you. Why do you want to meet people? Are you looking for proof that mining is profitable or not?

[febriyana 934]

I think mining Bitcoin with GPU is not good idea. Maybe that is like CPU to mining Bitcoin.

Now you must know the company is going expansion to mining Bitcoin, where we are mining at home. I think soon will going bankrupt, but let's look what happen in the future.

[BitMart 326]

2 minutes ago, CryptoMoney said:

Yes, some people still mine using GPU for small and easy mining. It is not profitable like ASICs but it is good.

Right now I am not in favor of Mining better option is just try to check trading option because its much better and profitable for any one who can give some time and able to reaseach.

[NordisLofer 77]

There was a time when people were mining, calculating profit on BTC / ETH with expenses, but now they have turned into a millionaire.

[Maaz sultan 265]

If you want to mine you need some investment or if you want to use your home PC mining is not make for home PC. Mining need lots of electricity and  is in your country electricity is cheap so  you can do it .

[Daveyoung182 389]

Good morning mate,i dont think that mining nowadays is still profitable like before.With the cost of electricity,mining has been slowly dropping.Happy posting mate.

[Hatred 1388]

On 9/28/2019 at 2:12 AM, 1millionClub said:

Do you still mine? If yes are you on free electricity? What's the situation now? Would you recommend purchasing mining equipment to a newbie investor?

Nope. I already stop mining. It always make my pc broke. Everytime I mine on my previous pc, it always consume so much electricity that's why my pc overheat and doesn't work well. 

[Usman Abdulmumin 354]

According to the installment, the are nearly tricks so how would they pay, in any case you got fruitful that is extraordinary. On the off chance that you ascertain the time you put resources into them with the genuine activity, at that point you will figure it out.

[guatazoo 7150]

GPU mining is good on some cons but not on other especially not bitcoin.

[Man 741]

We can still produce something using the GPU. But to be able to produce the maximum you must really try and be extra patient to achieve that.