Hardware Crypto Mining - Stuck in a momentum
We all know that there are few types of crypto hardware mining:
CPU Mining - Mining some worthless crypto currency with your PC processor power. This is for people with a spirit and a lot of hope that their cryptocurrency will rise and they get rich, after 10 or 100 years.
GPU Mining - It is used by professionals in the PC hardware field, so you may hear about terms: rig, graphic cards, hashing power, multi GPU motherboards, risers etc. Usually it is not something 'rocket science' coz it is simple PC with few graphic cards. So, here you collect coins, like 5 to 10 dollars a day, and see where you can find cheaper electricity, to get profit. Usually those mining rigs spend electricity, so you use power supplies of that PC (rig) with more than 1000 watts (depending of the number of the graphic cards you use). And it worked fine if you are ambitious.
ASICs Mining - Those hardware is must buy for any vendor of this type of hardware. And they are not cheap. What can you use them for. Nothing more but mining. So, you buy, happiness on your face when you start them first day. Calculate good 'X' amount and you think, cool now I will have 'Y' number of days multiplied with 'X' amount and I will get my money back sooner than I expected. Especially I must mention Sia coin ASIC miners, which started with earning or thousand dollars per day, and after week, decreased to 20 dollars per day or smaller. Then we get to the point of exponential decreasing. So, you will mine and pray to god that you will be able to get your money you spent for the hardware. All ASICs vendors happy, except you.
Now we get to that point is it worth to buy a hardware for mining. Sure, if you get lucky your coin to get up and difficulty of mining to decrease. So, is this possible? Of course no(coin prices are fluctuating and number of miners increases), but if you have money you can freely spend them and buy some hardware. You can make a video on youtube as well. Anyone want to see new graphic cards hash rates, or new ASICs hardware. You will be famous at least.
But, it is not all that black. You can pray to god and check if your currency gets up in the following year to earn something. So, if you want to buy hardware for mining, I advise you don't take loans. If you have money to spent and you expect that you may earn after year or two, this is your spot. Get into it.
But if you ask me personally. I will wait IoT to get developed and to use home heaters as mining hardware. That will cover at least my electricity costs don't ya.