I think I am late to the mining World but, is it still possible to still set-up a rig and still make profit?
Sure it is. But the ROI is much much longer.
Actually ya don't understand what are you talking about. Right now we can see levels of zero profitability for those guys who already have the farms and whose electricity is very chip.
Maybe if you're trying to mine with older gpu's. I don't mine with anything older than a 1070ti. Those are still profitable even at today's coin prices. I wouldn't buy any more of them even at msrp, but I'm not ready to sell them yet either.
May be. Let's estimate. 1070 and 1070ti are the best ones now.
They ' ll give you $0.5 profit per day on $0.06 kwt/h electricity from wall according what to mine coins.
That's it. It is a profit still i agree. But zero profitability is very near.
Ya can argue that there are some shitcoins with better perfomance. This hour or yesterday. May be. But it is not mining.
you crazy..... I earn over $1/day on a 1070 on a long standing algo.....
You must also take into account others' mining strategies may not be the same inside the box thinking that you are using.
if you can max out a 10KwH generator on petrol; you can definitely be profitable. Food for thought.
Yep it's near $1 per day (a bit less) if your electricity is free. I just checked it up. Otherwise it's a bullshit.
Sorry you got burnt on gpu's or started mining at a bad time. Whatever the case is, I'm doing just fine and still happy with sub-par daily profit that I NEVER take compared to 4 months ago. I wouldn't start building a mining farm with an unknown outlook at this time, but I certainly won't quit mining with what I have. If you're currently mining ... Sell at 10X or GTFO. Not sure how you expect anything in crypto to be a stready climb up all of the time. Otherwise, buy almost any top ten coin at a super discounted price right now and hold. Or if that scares you, join a fucking bowling league.
Of course i don't sell coins I mining right now. Even ETH
But this doesnot mean mining is still profitable.
Some said they got $1 per GPU in a day. I 'd said it more close to $0.5
We can speculate that rebond will come one day. That's perfect.
But mining can't be the only work for leaving. Course you can't now even sell this coins for electricity bills
Or pizza.It's a hobby again. Or some kind of investment.
That's the point
DO YOU ACTUALLY OWN A MINER OR JUST DO SOME RESEARCH AND SHED YOUR OWN KNOWLEDGE ( NOT EXPERIENCE) ?
YOU ARE MINING COIN ( it is up or down), ROI MUCH DEPENDS ON HOW YOU ARE GONNA DO WITH THOSE COINS ( DONT LOOK AT THE USD).
IF YOU DONT BELIEVE, DO NOT MINE.