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

[1millionClub 494]

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?

[Consignee 2395]

You can't get a significant amount with mining an established coin since the difficulty is huge.

On the other hand, mining new coin is a total gamble because therr are very few projects which may have a good future. That's why it's important to analyze the coin which you are going to mine and speculate its future value.

I have been mining Epic Cash for a while. It was good to go with CPU somedays ago but now difficulty has increased.

[hexwin 4931]

Profit with GPU mining is very very low at this point.

Take in the account that Ethereum will also switch to PoS, and Monero changing algo,

I am not sure what will people mine with GPU. 

You can check profits and calculate here: https://whattomine.com/

Edited September 27, 2019 by hexwin

[Consignee 2395]

7 hours ago, damn said:

There are still coins that are being mine by GPU, isn't LTC and XMR mined through GPU?

Yeah, XMR is popular for GPU mining if I am correct.

If you guys are interested, you can try mining Epic cash which I think is a good one and you can mine with CPU as well because of their algorithm designed namely RandomX, which is solely designed for CPU mining. You can check it here- http://epic.tech/

[Consignee 2395]

6 minutes ago, volcanoe said:

I did before but because of many expenses which can't be covered by my rigs I decided not to continue, if you are leaving with free electricity it might bring some profits, but if not better to forget about it and buy coins instead and try your luck dealing with trading. Chance might be much higher dealing with trading cryptos.

I suggest mining if you have GOU rigs, just lurk around bitcointalk and study new projects with zero premine. You may end up finding some solid projects which worth to mine even though in short term your investment will be high, the profit will be great. There was a time when people were mining with calculating the profit on BTC/ETH with expenses but they have now turned into millionaire.

[hexwin 4931]

I know one coin that is profitable to mine with Nvidia GPUs.

There is also a bounty reward if you are interested and want to start mining it.

I can post more information if I see genuine interest.

[cryptokram 102]

First to look or to weigh is the cost of energy on your country.

There are so many country who collect payment with huge fee. like where i am.

There are countries whose electricity is almost free to use.

Second, the weather! it is the best to have a good weather (cold), that will lessen the maintenance we need and aircondition to use.

mining is not easy, we need to maintain our rigs daily!

[DIY Tube Video 239]

On 9/28/2019 at 2:52 PM, hexwin said:

I know one coin that is profitable to mine with Nvidia GPUs.

There is also a bounty reward if you are interested and want to start mining it.

I can post more information if I see genuine interest.

I would love to hear about it please.

 

I have mostly Nvidia GPUs myself. I only mine new coins right now in hopes one strikes it big.

 

I am building a solar mining farm which is fully automated by an Arduino. But this past month we had rain every day so thats on the side burner for a bit. Only problem with solar mining. No sun = no mining.

[BullRunBit 2773]

Come on guys, this is like 2-3 topic about "is mining profitable" and just today!

Use google, research a little bit dont ask here everything (you can write I see, you have brain, research come on).

I will share some site where you can check profitable for each GPU or CPU, but dont do this at least research here if here have some topic about that.

https://www.nicehash.com/profitability-calculator

https://whattomine.com/

CryptoCompare

[hexwin 4931]

45 minutes ago, DIY Tube Video said:

I would love to hear about it please.

 

I have mostly Nvidia GPUs myself. I only mine new coins right now in hopes one strikes it big.

 

I am building a solar mining farm which is fully automated by an Arduino. But this past month we had rain every day so thats on the side burner for a bit. Only problem with solar mining. No sun = no mining.

You can search for coin called Mochimo  (MCM) -Quantum resistant. Real team. 

https://www.coingecko.com/en/coins/mochimo?utm_content=mochimo&utm_medium=search_coin&utm_source=coingecko

If you want to get FREE coins to start mining please contact me and I will tell you how you can get them 😉 

 

[DIY Tube Video 239]

Well, I gave it a look. Sounds like a solid plan. Quantum resistance is a bonus for sure.

 

I did not see why I need coins to start mining but I am always happy to get some free coins. I may switch over my rigs to this coin for a while and get some.

 

Please let me know how to get some coins and why they are needed to mine.

 

Thanks.

[DIY Tube Video 239]

9 minutes ago, growcoin said:

Cryptocurrency mining is not an easy task as several requirement attached to it . I mined using Minergate in the past , sincerely it totally a wast of time. I gained nothing. 

Mining with your own software is a huge difference to mining on a website. I tried minergate too and never got a payout. Went to running my own rigs using mining software and was paying our bills with it during '17

[cryptosix 1643]

I too tried mining on a website, but after some days I had no payout also it didnt' made much money. Never tried directly on PC or GPU since it will eat a lot hardware resources and the electricity bill too huge.

Never waste your time for mining a new coins as they are totally crap in this world

[DIY Tube Video 239]

10 hours ago, cryptosix said:

I too tried mining on a website, but after some days I had no payout also it didnt' made much money. Never tried directly on PC or GPU since it will eat a lot hardware resources and the electricity bill too huge.

Never waste your time for mining a new coins as they are totally crap in this world

You never got a payout because you never burnt any power. You have to burn some real power to mine coins.

 

Consider your last sentence. Just think of all the coins on the top exchanges today. They all started out new at one point. My goal is to hit a few of the successful ones when they are new. Most will fail. But just one or two is all I need. Just imagine having been one of the first to mine bitcoin.

[cryptosix 1643]

4 hours ago, DIY Tube Video said:

You never got a payout because you never burnt any power. You have to burn some real power to mine coins.

Consider your last sentence. Just think of all the coins on the top exchanges today. They all started out new at one point. My goal is to hit a few of the successful ones when they are new. Most will fail. But just one or two is all I need. Just imagine having been one of the first to mine bitcoin.

You are saying one or two coins may pass, but when I had used to mine from browser two to three new coins that are gone into scams. No one can predict on any coins or anyone, but we see these all are shit ICO's offering their coins for cheap.

As per the payment, the are almost scams so how do they pay, anyway you got successful that's great. If you calculate the time you invested in them with the real job, then you will realize.

[DIY Tube Video 239]

I have been a full time YouTuber for 7 years. Back in 2017 when YouTube cut my pay to $800 a month I had a mortgage for $1,500 a month. I lost it all, moved and started over.

 

I used mining to pay the bills back then. Back then it was quite profitable to mine.

 

No, we cant predict anything perfectly well but we can make informed decisions based on the study of the team, blockchain and background of the project. Then pick your coin and mine.

 

Sure most will tank. But you only need a few to make it. Thats my point. Once a coin is listed on the exchanges, then you can sell/trade or hold.

[jmigdlc99 360]

Not unless you are mining with the latest GPUs like the 1660TI or Radeon 5700 and your electricity costs are less than or around $0.05. Go check out the mining profitability calculators posted above.

[Scottsummers 347]

I would say the short answer is no. A few exceptions exist but generally you are better off just buying the coin. It's no coincedene that it cost ms almost the same to mine as it does to buy. You have to be mining huge amounts to benefit from the tiny margin. Its fun to do and solo mining can be hugely rewarding if you're the chosen one. But generally if you're looking to generate some crypto. Just buy some. If you want to do it for fun. Go for it.

[dentolas 551]

At first you really need to check your electrical bill and make some calculations.

If you don't have green energy, I would advise you to consider the cost of the electric bill on your mining budget (for example for 6 months time). Electricity costs are usually what makes a lot of people give up mining.

Then, if you only have GPUs it is better to forget mining most mainstream coins, depending on the GPU set maybe you can get some ETH or XMR, but there are not many more

people with GPUs usually target low dif coins and the great part of these are scams... it is a gamble

 

[Devh 564]

On 9/27/2019 at 11:12 PM, 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?

I have still s9 Miner working on free electricity, I had about 10+ s5 miners but i sold because it totally making noice every where. So GPU mining is also possible for some alt coins. If you want to mine then you can also mine crypton CRP on just 2GB RAM. this is the most profitable mining because your system will not get slow down and will work fine. You can do thise while using it online. Another way is mine from POS proof of stake. Instead of buying Machine or GPU directly mine coins that works on proof or stake. 

[lucky80 1046]

On 9/28/2019 at 1:12 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?

Yeah! Why not. There are various kinds of coins and possibilities that can occur by mining. It all depends on your mindset.

[1millionClub 494]

24 minutes ago, Devh said:

I have still s9 Miner working on free electricity, I had about 10+ s5 miners but i sold because it totally making noice every where. So GPU mining is also possible for some alt coins. If you want to mine then you can also mine crypton CRP on just 2GB RAM. this is the most profitable mining because your system will not get slow down and will work fine. You can do thise while using it online. Another way is mine from POS proof of stake. Instead of buying Machine or GPU directly mine coins that works on proof or stake. 

Man, free electricity must feel nice. How do you get it though? Student dorm room? :p Or are you getting solar power? Either way it must be nice to have. How much coins do you mine per month?  I mean if you got free electricity you should have hundreds of antminers running somewhere in a warehouse. :)

16 minutes ago, lucky80 said:

Yeah! Why not. There are various kinds of coins and possibilities that can occur by mining. It all depends on your mindset.

Can you explain which possibilities are those? I tried to mine buy it didn't make sense to me. I mean buying the coin right away looked like a better and more profitable idea. I don't have to deal with the maintenance of the hardware neither. Buy and forget is so appealing to me than mining the coin.

[lucky80 1046]

3 minutes ago, 1millionClub said:

Can you explain which possibilities are those? I tried to mine buy it didn't make sense to me. I mean buying the coin right away looked like a better and more profitable idea. I don't have to deal with the maintenance of the hardware neither. Buy and forget is so appealing to me than mining the coin.

You will never understand if you don't experience it yourself. And if you experience it is not guaranteed, you can succeed because it needs the determination to explore the art of mining. 

I'll give you a little hint. At least I have mined 100 ETH from mid-2015 to early 2016. Then I jumped to mine another coin. I hold my coins in my wallet and get 100 ETC when the hard fork occurs. After that, I mined ETC and got approximately 200+ ETC. Then I jumped again to another coin.
At that time, I was mining using 6 X 970 GTX. I also made many articles about crypto mining in the Newbium website using the 6 GPUs.
My question is, How can I mine 100 ETH using only 6 GPUs? 
The answer is, if you are an actual miner, surely you can also get the same results. Learning is the only way.

Then what are the possibilities? 100 ETC, roughly, was traded at 500k satoshi at poloniex. That is an example. 

What about today? Well,  did the above story is not enough? LOL

[1millionClub 494]

1 hour ago, lucky80 said:

You will never understand if you don't experience it yourself. And if you experience it is not guaranteed, you can succeed because it needs the determination to explore the art of mining. 

I'll give you a little hint. At least I have mined 100 ETH from mid-2015 to early 2016. Then I jumped to mine another coin. I hold my coins in my wallet and get 100 ETC when the hard fork occurs. After that, I mined ETC and got approximately 200+ ETC. Then I jumped again to another coin.
At that time, I was mining using 6 X 970 GTX. I also made many articles about crypto mining in the Newbium website using the 6 GPUs.
My question is, How can I mine 100 ETH using only 6 GPUs? 
The answer is, if you are an actual miner, surely you can also get the same results. Learning is the only way.

Then what are the possibilities? 100 ETC, roughly, was traded at 500k satoshi at poloniex. That is an example. 

What about today? Well,  did the above story is not enough? LOL

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?

[lucky80 1046]

3 minutes ago, 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?

Then mine with your math.  If you feel so smart and feel you already got your answer,  why bother asking? And that is why you never understand and shouldn't mine anything. Oh, I have an ethereum presale wallet, by the way,  and yes, my math is terrible.