Post
Topic
Board Mining (Altcoins)
Re: I Turned My Rigs Off...
by
pinoycash
on 08/05/2019, 00:46:57 UTC
Now mining on graphics cards to me does not bring virtually anything.I'm talking about home mining which consists of several graphics cards.Competition from ASIC-devices is growing stronger,so I will just keep an eye on the situation on the market and if it starts to improve-I think mining will again begin to generate income.
It`s the same as to say working at home does not give me profit. Competition with the plants is growing stronger. Etc.
Mining is a work! If you want to get money for doing nothing - panhandle is your choice.

Mining isn't really considered getting money for doing nothing. You need to invest in the hardware and maintain it, doing nothing would not involve any investment what-so-ever time and money wise.

The issue with mining is however that with the crypto boom in 2017, many people discovered mining and the competition became fierce. Many gamers actually started to mine since they already owned the rigs.

So like with most businesses that are too profitable, competition hits them fast and the profits start to dwindle, its like this in most industries. My advice is to just sit and wait and ProgPOW might be launched and we might hit new ATH with a few alt coins and the days of $1/day/gpu might be back again.

Too much HYPE in mining last 2017 and even those people that don't have clue what cryptocurrency is, Started mining and the only thing matters to them was $$$.

Most of these newbie first time miners are nicehash users and when nicehash was hack all those newbies was saving their hard earned mining profits in nicehash thinking it was secure enough to store their BTC.