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RE: Mining Cryptocurrencies at Home
Great set up but it can’t be profitable when you factor in electricity costs and depreciation in the hardware value?
I mined btc on grapics cards back in 2011 and it was only just profitable for me then. But then despite pulling in 0.5 btc a day, it wasn’t worth selling it!
The idea is support the blockchain and mine coins, sure its profitable but in 10 years it could be the decision that made alot more possible! .5 btc a day!🤤 if you kept that up you would be very well off...
It was two graphics cards and even then difficulty was rising and btc was worth around $3 each so no fortune was made. And if you mine and hold you are prob better off just buying.
But that is a great set up and I love that you want to support the block chain. Unfortunately ekectricity is too expensive where I live to make that viable.
Electricity costs vs. the total in coins you mine after years if the value skyrockets as it has...
You can’t compare to the value it may or may not be worth in the future. You can only compare to value today. If you think coin x will go up in the future, you are probably going to be much better off buying that coin rather than mining it.
Yes you are correct, i buy and mine to support the blockchains i invest, also it is profitable as these cards i bought for $300 go for $700+ already search amd rx 580
I admire your support to the blockchain sand love your set up. I just wondered if you had found the magic bullet of profitability!
Yes, mining is so popular the equipment is expensive, mine then sell for profit! Repeat
If I could do that I would consider getting back into mining. But electricity is too expensive where I live which makes it unviable really. The real fun is in designing and setting up the rig though. Good luck and I hope your set up continues to make you a profit.