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any crypto miners?

V

vaporizeWa

New member
Hey im a cryptominer, anyone else into mining? what are you mining and what is your gear?

im doing 5xr290's on dwarfpool for eth. getting like 100 mh
 
S

sadpanda

Member
i guarantee there's some kids out there in some countries who're running units that cost their parents more in electricity than the bitcoins they end up mining
 
MedicalManny

MedicalManny

Member
I got a couple friends who do some mining here in OR. But i wanted to get in to it myself. Im not too sure how though...
 
oldbootz

oldbootz

Active member
Veteran
Mining is all about the maths.

((Price of mining unit / amount of months of life time of miner before difficulty rating becomes too high per kW) + kW hour cost per month) <= monthly amount of coin mined

If you can take the byproducts and reuse them, then it becomes more profitable. In cold places like Canada they use the miners excess heat for indoor heating.

When you run these calculations you will realize that mining is not some free money industry. It comes with major pitfalls and risks. You could find yourself sitting on $10,000 of useless equipment that wont work as well as a toaster does to toast bread.
 
Natural high

Natural high

Member
paradoxlost said:
Not the case anymore. I got two antminer s5 s. Make me about .0015 btc a day. About to get a rig for Ethereum set up
Click to expand...
At the current btc price of US $6,966.03, your two antminer's are making you a grand total of $10.45/day. Subtract electricity costs and I suspect it will be a while before you break even.
 
L

LibertyGuz

New member
I am trying to learn this but it's really hard. I got a lot of tokens but I don't know how to exchange it? Any idea??? Some said I need to have ETH first in order to sell the tokens.
 
P

paradoxlost

Member
Natural high said:
At the current btc price of US $6,966.03, your two antminer's are making you a grand total of $10.45/day. Subtract electricity costs and I suspect it will be a while before you break even.
Click to expand...

Well I sold those miners about 9 months ago and used the proceedes of 600 to buy btc which I sold for 2100 and bought a eth, xmr, Sia miner that has already netted me 750... So it definitely broke even haha you responded very late to that post.
 
Natural high

Natural high

Member
paradoxlost said:
Well I sold those miners about 9 months ago and used the proceedes of 600 to buy btc which I sold for 2100 and bought a eth, xmr, Sia miner that has already netted me 750... So it definitely broke even haha you responded very late to that post.
Click to expand...
I'm glad it has worked out OK for you so far. :tiphat:

Don't forget to include all your outlays and expenses when calculating how much profit your mining actually makes.
 
D

davers

Member
I am interested in cryptocurrency investment. I think cryptos is stable now and it is easy to earn money if you choose profitable project. One of them is which I suggest you to try it.

 
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Douglas.Curtis

Douglas.Curtis

Autistic Diplomat in Training
Natural high said:
At the current btc price of US $6,966.03, your two antminer's are making you a grand total of $10.45/day. Subtract electricity costs and I suspect it will be a while before you break even.
Click to expand...
Depends on where you live, and what your goal is. BTC were 10,000 coins for $1.00 at their creation. Each coin is now averaging around $9,000USD each, and mining difficulty is insane.

The question is whether you're looking to make an immediate profit, or if you're looking to invest in a possible future payoff. Odds are decent BTC will go well past $30k, with good arguments for $1MUSD each or more.

This potential makes the electrical costs for $10 in BTC/day, for anyone who can afford it, an easy gamble. Were I able, I'd be mining. Especially at my ridiculously low electricity prices. :tiphat:
 
S

St. Phatty

Active member
Bought a mining card back in 2014, but couldn't figure out how to set up the software.

Still using the graphics card.
 
D

davers

Member
I have interest in it too. I created business and my current project use blockchain. For promotion my work I decided try to use help of ad network bitcoin where everyone can find different crypto projects and clients.
 
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Frosty Nuggets

Frosty Nuggets

Well-known member
ICMag Donor
I just got an Antminer s17+ 73THs going mining Bitcoin hosted in Europe where electricity is AU$0.10 kwh and am making about AU$25 per day after electricity cost, it cost me AU$5700 for the miner (the price has gone up to AU$7500 at the Mining Store) meaning a payback time of 228 days or about 8.14 months.
 
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H.Marks

H.Marks

Active member
I saw something on the net the other day guy is making about 2.5k a month but has invested heavely in loads of servers etc just for that job.

Sounds interesting if you really get into it and have the cash to invest. More electricity than growing a few plants and thats for sure.
 
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