Quote from: traderdyl on April 09, 2021, 02:20:18 AM

Hi All,

I used to mine quite a bit when GPU Mining was still viable but I was thinking about getting into ASIC mining.

MY electricity is cheap, but I was just wondering if it's profitable. my budget is about $2000.

Thanks

Dyl

quoting myself , to give you a detailed answer to your question

Happy reading Wink

Quote from: xxcsu on February 19, 2021, 03:48:08 AM

Posted this topic almost 3.5 years ago... There is the brand new, 2021 updated version

There is the Original Link for my topic from 2017 HERE

The same thing happening now what happened in (2016) 2017, ppl got crazy about mining, investing money into GPU's, ASIC's, hoping a big profit in a short time, GPU's, ASIC's price are crazy high, but really no one know what's coming in the future.

Lot of us know what happened in 2018, some of us was able to make a great profit with mining ( mostly those guys who started mining before crazy GPU prices ), and some of the unlucky ones come back to this forum and cried for they Money, said just bad things about mining ( mostly those guys who paid 3x, 4x, 5x price over a RX480/580 MSRP ( manufacturer's suggested retail price ).

Before you jumping into mining please do your own research, especially about ETH mining, check the roadmap for ETH development, make sure you know more than what mining calculators telling you. Learn about ETH2 , EIP 1559 , Mining Reward Reduction ... and if you are living in the USA , make sure you know what this IRS letters are about : Letter 6163 , 6174 and 6174-A also ... Its a good thing to know about Tax Consequences
The big brother is watching you, and not just in the USA.

HAPPY MINING to all of you and good luck with your new adventure

Be Aware ! Scammers are Targeting You! Hackers are targeting You! You can be a victim of a phishing website ! Watch out !
Make sure You Buying gears from legit source ! Downloading program from legit source ! Make sure you have a hardware wallet !

Im sure we going to see a lot of "crying " ppl here as soon as Price going up , scammers , hackers getting into actions , and most of the victims going to be some of our community new members , our "Newbies"

Watch out for newbies who promising "save on dev fee" kind of miner programs hacks , and you just need to download a file to your computer , then run the .exe file ...
IF NO SOURCE CODE , NOT OPEN SOURCE PROJECT, FORGET ABOPUT THOSE JUNKS
NEVER RUN ANY .EXE FILE ,OR IF YOU DO USE WIRESHARK OR SOMETHING SIMILLAR TO ANALYZE what your freshly installed junk doing on your network .

if you running something like this on a pc , where you keep important information about your wallet , don't be surprised if all of your hard mined coin going to disappear .
...or your valid shares decline , bc your miner going to mine for somebody else !

Coin price up its mean scammers targeting miners, especially newbies with a promise to save on dev fee .

Dont be fooled when newbie account holder creating a .exe file , promising you can save lets say on dev fee, and another newbie keep saying how perfect is that new .exe file, what another newbie just created !
Dont be fooled when the creator make his source code public, its can be totally fake , you need to Decompiling the code , and see whats in the .exe file ! or compile the file yourself from the source code , if you want to stay on the safe side !

Quote from: xxcsu on September 26, 2017, 04:36:37 PM

I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTIONS " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ? WHY MY EARNING IS LESS THAN ALL THOSE ONLINE CALCULATORS TELLING ME? WHAT IS THE BEST COIN TO MINE ? WHAT IS THE MOST PROFITABLE COIN TO MINE"

No one can tell you !
Always going to be a 2 group of ppl who telling you it's ok go for it , or don't bc you just wasting your money and time !
You have to make a decision for yourself !
Do your own research !
No one can tell you for sure what's going to happen with cryptocurrency !
No one can tell you it's going to be profitable for you or not !
No one can tell you how much profit you going to be able to make ! ( if you can make any at all )
No one can tell you the ROI ( return of investment) time !
No one can tell you what is the best coin to mine !
No one can tell you what is the most profitable coin to mine! Coins profitability always changing, what is best to mine today, maybe going to be the worst to mine tomorrow !
None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later !
Those calculators telling you about today , at that moment when you typing in your information !
None of those online calculators calculating pool luck !
None of those online calculators calculating your stale/rejected or invalid shares !
None of those online calculators able to predict difficulty growth !
None of those online calculators can predict what would be the coin/$ exchanges rates a minutes later, a hour later, tomorrow, next week, months later, 6 months later or a year later !
It's little bit of gambling , you must to decide you want to play on the lottery or not Grin

YES some of us got lucky , made some money with mining
YES some of us got unlucky , lost some money , bc when price started to fall , sold they coins , miners...

! INVEST ONLY WHAT YOU'RE WILLING AND ABLE TO LOSE !
! INVEST WITH THE UNDERSTANDING , THAT YOU COULD LOSE EVERYTHING !