Post
Topic
Board Mining (Altcoins)
Re: WHY NEWBIES KEEP ASKING THE SAME QUESTION " ITS TO LATE TO START MINING ?
by
Malbrosia
on 01/02/2018, 20:17:59 UTC
I'm a noob in the mining world, I just started about a month ago and it's been a hell of a process.  Trying to find GPUs, motherboards, PSUs has been a hell of ride.  Sometimes I wonder why I ever bothered to start.  Apart from paying over MRSP for pretty much everything, I have spent countless hours learning and troubleshooting my rig.

But I never really have questioned whether or not it is profitable, because from I come from electricity is only $0.12 a kWH and I live in Canada.  Even if prices are dropping and continue to drop, I make money.   So on a 6 card GTX 1080 Ti I pay about $120 or so in electricity a month.  And mining right now pays far, far more than that.  If it drops to a really low point, then I'll just hold the coins and sell them later when it goes back up.  

I have spent close to $7500 on this 'hobby' so far and as frustrating as it has been, it's also been a great learning process for me and most of the time I do find it fun.  I certainly do not rely on this to make a lot of money.  Please help me if I do.  I do it to make some passive side money and also to learn more about cryptocurrency because I think it is here to stay for good and within 5 years will really start making its way to more mainstream services and products.  

I see people complaining about ROI times at > 8 months and I just laugh.  I would very happy if my ROI paid back in a year.  Do you know many investments that do that?