Is Mining Farm On ETH Still Worth It ?

[randomvanish]

title

 

[brainregeneration]

title

No, if you want a safe investment just put your money in bitcoin.

 

[randomvanish]

No, if you want a safe investment just put your money in bitcoin.

elaborate

 

[brainregeneration]

elaborate

ETH isn't worth mining (imo) because of the electricity costs you have to calculate and spend on something that can crash at any time. It's literally putting a good chunk of money into gambling. If you wanted to mine ETH I'd learn how to make ETH mining malware and spread it through fake cheat videos.

 

[brainregeneration]

elaborate

No offense, but if you're asking for mining advice on Looksmax for crypto you probably dont have enough money to create a profitable mining rig.

 

[randomvanish]

No offense, but if you're asking for mining advice on Looksmax for crypto you probably dont have enough money to create a profitable mining rig.

actually i have but 0 knowledge about crypto currency.

 

[leloucheREBORN]

ETH isn't worth mining (imo) because of the electricity costs you have to calculate and spend on something that can crash at any time. It's literally putting a good chunk of money into gambling. If you wanted to mine ETH I'd learn how to make ETH mining malware and spread it through fake cheat videos.

And for students who don’t habe to pay electricity costs ?

 

[onthecomeup]

are you looking to buy ASIC miners or GPU?

ETH as you might know is switching to ETH2.0 moving from a proof of work (Mining) scheme to Proof of stake (staking money). You need 32ETH or 110993.92USD (as of writing this) to start staking. You make intrest from staking so 5-10% ROI compared to usually 80%+ ROI when mining. So please do not invest in an ASIC ETH mining farm as this is likely to happen Q1 of 2023. And staking is not worth it unless you have a lot of money like 10mil to stake and you can give your self a salary of 500k to 1 mil. Also Russia is working with the creator of ETH and are working to adapt crypto in their country but the recent news between Russia and Ukrainian I think will have a negative impact on ETH and also bitcoin but not as much.



Global leaders don’t like bitcoin because of the hype and the big name it has which is daunting that’s why countries are banning mining of bitcoin but not necessarily crypto. It’s not about the environment, thats just bullshit. Same with Elon, he claims mining bitcoin is damaging the environment because it consumes a lot of energy and the energy is coming from pollution and not green energy but it’s so gullible because he makes electric cars and the electricity comes from the same place .

I dont recommend mining ETH with an ASIC. You can mine bitcoin now but I don’t think it will be a good idea in the long run (10 years). Elon musk almost runs the crypto market, if he shits on a coin it drops 40% but he is an advocate for doge coin and he said in the past he is working with the developers of doge coin to enhance it and make it more green so I think this will be the best to mine. It is also volatile so you can make quick profits, if you are a miner volatility shouldn’t scare you as you are not putting money in like an investor, you will always make profit one day.

GPU mining is good as you can mine any coin but it’s also expensive and will take longer to start making profit. It’s also a hassle to store. ASICs apeal to me more as you can buy an ASIC the size of one gpu mining rig but the Hashrate of a 100.

 

[onthecomeup]

https://youtube.com/c/VoskCoin

watch his videos on mining and his review on mining rigs.

mining is the best way to make money today, people who say invest in property would run to mining if they knew about it. If you invest in an apartment for 1mil usd and you rent it out to make money. You would be considered lucky if someone rents it for 100k a year. It would still take 10 years to make back your money but you could buy this miner:

Goldshell KD6 profitability | ASIC Miner Value

Live income estimation updated every minute.

www.asicminervalue.com

and buy several with that 1 mill and make 10% profit at the end of the year or 110%roi.

if you have savings, please do it and really learn about it. YouTube will teach you everything you need to know. It all starts with “how to…”

 

[Foreverbrad]

I have a 300 megahash paperweight made of 12 RX 480 8GB's that I can't even sell at 20% below the market value of the GPUs that make it up, so no, I don't think anyone wants to get into mining.

 

[randomvanish]

https://youtube.com/c/VoskCoin

watch his videos on mining and his review on mining rigs.

mining is the best way to make money today, people who say invest in property would run to mining if they knew about it. If you invest in an apartment for 1mil usd and you rent it out to make money. You would be considered lucky if someone rents it for 100k a year. It would still take 10 years to make back your money but you could buy this miner:

Goldshell KD6 profitability | ASIC Miner Value

Live income estimation updated every minute.

www.asicminervalue.com

and buy several with that 1 mill and make 10% profit at the end of the year or 110%roi.

if you have savings, please do it and really learn about it. YouTube will teach you everything you need to know. It all starts with “how to…”

thank you so much, i'll review it

 

[Deleted member 14077]

No, if you want a safe investment just put your money in bitcoin.

tbh in my experience ethereum has a better return (in my opinion) and follows bitcoins course anyways

 

[onthecomeup]

I have a 300 megahash paperweight made of 12 RX 480 8GB's that I can't even sell at 20% below the market value of the GPUs that make it up, so no, I don't think anyone wants to get into mining.

ASIC mining is what people care more about today because of it versatility, your mining rig is probably over a meter long and probably messy with wires everywhere. This scares people but the asic miner link I showed above is half the size of your rig, all in a box with an Ethernet and a power cable only and makes 65k a year. Also 300 mega hash is not a lot. A single rtx3090 is around the same megahash. Sorry but it’s most likely your rig. If you can keep it, still mine with it and make profit so it’s not a waste.

 

[Foreverbrad]

ASIC mining is what people care more about today because of it versatility, your mining rig is probably over a meter long and probably messy with wires everywhere. This scares people but the asic miner link I showed above is half the size of your rig, all in a box with an Ethernet and a power cable only and makes 65k a year. Also 300 mega hash is not a lot. A single rtx3090 is around the same megahash. Sorry but it’s most likely your rig. If you can keep it, still mine with it and make profit so it’s not a waste.

A 3090 is 130-140 MH, not 300, on Dagger-Hashimoto.

At $0.60 - which is what the KWH cost in United Cuckdom will be in Octoober, even 3090 will be unprofitable. Two of those at 140MH make nearly the same hash rate as my 11 RX 480's but using half the power consumption.

My RX 480 8GB already use 1.5x more $ worth of electricity than they mine $ worth of crypto.

Ethereum ASIC such as Jasminer X4 are super efficient, 4 times better than the 3090, but there is still the issue of ETH going proof of stake very soon now. You'd not ROI before it happens.

Bitcoin ASIC like the S9 are already unprofitable due to electricity even at the current $0.40 KWh.

I have never heard of Kadena and would be concerned spending $50k on an ASIC that can only mine one obscure shitcoin, although the numbers do look good at the moment.

So there's no real good options right now if you live in a country with cucked electric costs.

 

[onthecomeup]

A 3090 is 130-140 MH, not 300, on Dagger-Hashimoto.

At $0.60 - which is what the KWH cost in United Cuckdom will be in Octoober, even 3090 will be unprofitable. Two of those at 140MH make nearly the same hash rate as my 11 RX 480's but using half the power consumption.

My RX 480 8GB already use 1.5x more $ worth of electricity than they mine $ worth of crypto.

Ethereum ASIC such as Jasminer X4 are super efficient, 4 times better than the 3090, but there is still the issue of ETH going proof of stake very soon now. You'd not ROI before it happens.

Bitcoin ASIC like the S9 are already unprofitable due to electricity even at the current $0.40 KWh.

I have never heard of Kadena and would be concerned spending $50k on an ASIC that can only mine one obscure shitcoin, although the numbers do look good at the moment.

So there's no real good options right now if you live in a country with cucked electric costs.

Very true, I live in dubai and the electricity cost is 0.081 KWh. But if you live in a country with high electricity prices, Hosting is an alternative

 

[onthecomeup]

I have never heard of Kadena and would be concerned spending $50k on an ASIC that can only mine one obscure shitcoin, although the numbers do look good at the moment.

the numbers were so even better before