Re: GPU Mining Is NOT Profitable In My HOUSE - October 2018 Mining Farm Update

I do think people take WTM values way too literally, as you said you could be making less . . or you could be making more

You never make more, always much much less, if whattomine says $0.15 per gpu then that means minus/negative $0.30 cause $0.15 never pays anything in the end cost, I mean, if a gpu is earning $2 per day then to pay for extra things that is $0.30 per gpu + the electricity which is around $0.40 per gpu if you pay $0.10 per kwh, in the end is $0.30 + $0.40 =$0.70, that is the cost with electricity per gpu just to keep it functioning. See my point, that is why I always tell people, if a gpu is making less than $1 per day then mining is not even worth thinking cause in the end you will be making only $0.30 per gpu and if the gpu cost $300 then it makes the roi to be 1000 days, that is if a gpu is making $1 per day, at moment is making $0.05 per day per gpu net not counting the extra things, electricity included. A rx 570 was making 10 usd per day and that was bullshit and so is this, very extreme both sides, I myself was hoping profitability per gpu would stay at least $1.30 for many years, that way asics companies would not bother about it, sadly there was nothing anybody could do cause common sense was out of control.

The question is how long this nonsense will last, profitability cant stay like this, are people so beyond stupid to sell their coins at this price. It seems they are.

PS: I have been buying coins and will keep till January 2019 and then hold until 2021. This is the best time to buy.

FWIW I have beaten WTM figures significantly many times, and been under them many times as well

What do you think are proper realistic earnings for a healthy gpu mining community? 1 dollar per day after electric paid? 50 cents? obviously a ton of variables but interested to hear more of your thoughts on that

Vosk,

I don't think it makes much sense to compare things in terms of flat $USD per day. Much more logical to compare in terms of ROI as we have been doing for years, that equates all things and keeps it relative by eliminating variables such as card price, hashrate, electricity price, etc.

I too have beaten and been under WTM figures many times. I think something people need to realize is that unless they are literally selling every day, they are chasing the coins that have already pumped on WTM. Rather than mine RVN right now, get low amount of coins because of high difficulty surge, and then only to get dumped on because price doubled over a day or two; I'd rather mine coin that hasn't pumped yet like BTG and sit on my stack.

For example, I mined RVN for the past few months on and off while it was low in price and under the radar and sold off on yesterdays pump to 500 sat. I netted much more than WTM claimed I would because I stockpiled a low diff and low price coin. Now that difficulty and price surged I moved off to other things and hope to repeat the cycle. If you are one of the few people that actually DO auto-convert all your mined coins or sell them daily; then yes it makes more sense to mine the top coin and convert to what coin you want daily. In practice and for the rest of us that mine and sit on a stack, be careful of chasing WTM figures.

-Meteorite