I still remember it was about an year ago when Mining DASH was the most profitable thing in the Cryptocurrency World.
Almost everyone who belonged to the Mining Community either was Mining DASH at home or in Cloud Mining services like Genesis or Hashflare .
My My My How have the Tables turned !
Right now I think DASH is the most least Profitable Mining Coin.
The difficulty of DASH Mining has risen to such a point where daily payouts are almost negligible.
If we have a look at Cryptocompare Calculator for DASH Mining it clearly shows that you will not even make 1 USD in DASH even after mining for one month with about 100 MH/s Mining Power.
My DASH Cloud Mining Stats
As you can see I have a DASH Cloud Mining Contract of 133 MH/s which earns me around 6 cents worth of DASH per Day.
That is hardly Profitable.
If it was only a problem about DASH price it would have been ok but the amount of DASH I am receiving is also low which sucks for us.
I hope you guys liked this short Post of mine.
I have a treat for the Guys interested in Cloud Mining in my upcoming post.
So stay tuned.
You can guess in the comments what I will reveal. Let's see if anyone guesses it right.
See you guys in my next Post.
OMG, this is insane.
At one time I was about to buy Dash mining contract but I left it and bought bitcoin. Though for the last two weeks, bitcoin mining is also not going that profitable but it still gives you some money.
So which company do you use for Cloud Mining??
I have a very small contract on genesis mining and around 22 TH on Hashflare.
What about you?
I have only 5 TH/s on Genesis in BTC contract and 60 MH/s in DASH contract.
In Hashflare I have 10 TH/s in BTC contract and 133 MH/s in DASH contract
@suf1an are you interested in buying some Cloud Mining Contracts.
I found some nice ones.
I would love to, but not right now. I have invested already in some coins and market is not performing well so can't buy right now.
HODL those coins do not sell at any cost.
Yes, that is the only solution for now.
Today, BTC even fell to $7k which is just unbelievable.
Sad that I live in a country where electricity is pretty expensive. I would like to mine as well, but it won't pay off here.
Cloud Mining services sounds pretty cool, but no idea how trustful they are. Can you switch the coin whenever you want?
There are some legit companies in cloud mining like Genesis Mining and Hashflare which have been around for almost 4 years.
As for switching coins it can be done for Genesis Mining but not for Hashflare.
I have recently joins another two cloud mining companies and invested little into them. Now waiting to see if they turn out to be legit.
On the other hand, you can still buy D3s for 1k$, while S9s round for about 4.5k$ and over and are making 3 times as much. Only works with really cheap electricity.
I have free Electricity but no source of Buying a Miner.
I would love to buy a D3 if I see a chance.
I really appreciate this post as I mine via hashflare.io I had no idea. I think I'm ok as I only purchase hashrate and did not specify what crypto.
I bought my DASH Mining contract while Hashflare was having a sale so I guess I will get my money back.
But if someone buys at normal rate then say goodbye to your investment.
It is because of the ASICs that hit the market a few months back. I wrote about it killing the DASH mining profitability a while back.
ASIC Resistance is a MYTH : DASH is Conquered
Yeah, that is also a reason.
Ok, I read your post that is actually pretty sound Analysis.
The team of DASH should really work hard on coming up with a solution or more and more People's are going to opt out of DASH Mining.
anyone tell if mining is profitable now a days
It is profitable if you know which coins to mine??
For example, if you mine DASH you lose for sure.
Unless there is a drastic change in Difficulty.
thanks for sharing another very important article on dash crypto definitely useful and i decide to hold it for more months
DASH is an awesome Cryptocurrency I agree with that it's just that Mining DASH is no more profitable.
Difficulty is through the roof and price is showing little movement
So what SHOULD we be mining then?
I am buying Litecoin Mining contracts wherever it is available.
Cause LTC has room to grow so 1 LTC though its about 200 USD now could jump to a 1000 USD in the near future.
Sounds like a good call then :)
Yes it is @tfcoates
Wow - you are a mine of information!! I want to know what you think is the best coin to mine I plan to invest in 2 Graphics cards of the NVIDIA type 1050 TI - I know it is old but it is still cheap and I think I can afford to buyh one every month until they run out of stock. What do you say about that plan? Should I go for it?
What is the algorithm being used for DASH mining? Is it anything like ZCash or Monero?
Sorry for the Delayed reply.
So Dash uses X11 Algorithm to Mine which I think would not be possible on GPU's.
You could go into Bitcoin Gold as it is pretty low in Price and for some reason, I think it will pump once or twice.
upvoted dear
Thanks a lot @diya28