How much to invest in ethereum mining rig in india
Thanks for the warning. But you have to take into consideration a lot of people like myself are hopping into this as a hobby. I don't really care if I make my money back, it's just cool to get into something completely new that I've never done before.
Also, I think GPU mining works for other cryptocurrencies too and as long as there's something to mine, people can just switch over. Make your calculations and tell me how much money you would have now! Now I'm laughing on you guys!!! Please tell me how much eth you have now??? Even if you did not sell any ETH and paid electricity from you pocket, you still don't have the same amount of ETH as if you would bought!!!!
And let's not count heating and technical problem which someone of you had I'm sorry that you made the wrong decision I tried to advice you from my mistake, but people usually learn only from their mistakes. It looks like you're new here. If you want to get involved, click one of these buttons! March edited March in Mining. My English knowledge is average so please sorry for grammatical mistakes.
But people are still begin mining! First of all you do not understand what means difficulty and what means return of investment.
I begin mining one year ago And it was already to late for me to get in. Because the amount of Ether produced in all this time by me is lower, than if with the same amount of money I invested in production, I would buy directly Ether's!
And I started 1 year ago. Difficulty grew up very fast and amount produced every day become lower and lower! I don't tell you problems with heat in the summer and freezing Rig's Or I would sell now just an amount to recover investment and wait for Ether to go to the moon! Big Idea is that now is the same. Just make a calculation. With a computer with 5 rx's you will produce about 0. But this you will produce in first month, in next months amount will be lower and lower!
You can check the difficulty graph for evidence Also there is POS coming So you will never return your investment and will end up with less ether than you thought you will have. And don't dream that something will happen and you will have more That's the maximum, you could end up with less than that. So at the today prices you can buy directly the same amount of Ether and wait 1 Year for the price to go up!
Other problems are that if you have working Rig at home that means a lot of heat in the summer, noise and safety problem when you go in a vacation or somewhere for the weekend you need to ask somebody to be close to your house, in the event your Rig Freeze and you don't know if there is a fire or what is the problem. Conclusion make for yourself, i just posted something which is real world calculations Post edited by verjic on March It may not seem profitable based on todays numbers but what you forget is that value could increase 10 fold and what you mined would in turn be profitable.
Yes if you invested the money instead you could be further ahead but Like KeKe says, it's fun: Based off my trading history on polo my equipment has already been paid for. March edited March In one month that mines 0. There are so many coins out now, Some of them have to be profitable at some stage of their existence, Oh look there's "23" that are profitable today, Lets shut down our miners lol, Even if a coin is just below the profit margin, It's more than likely still worth mining, Because you'd pay more in fees buying the coin, Than the cost of mining it.
Diff rising, POS incoming What I said is that if you buy and sell later you will make at least the same amount of money in 1 Year or even more, than if you start mining! All other coins are profitable now because prices rise!. Do what you think is correct for you, I just showed you that buying is simple, fast and will give you bigger revenue in 1 Year for Ether, than mining. There was a long topic here with the same content almost one year ago. I started then, and made ROI, have a big stack of ether and many euros from selling.
And there are and will be many other pow coins, where you could later use your hashpower. Another use case will be the Golem network, and you can also crack passwords with the equipment. I did not say you will not ROI, I said there is a big probability, but I said that with the same money you invested in your RIG's, you can buy the same amount of Ether that you will produce in 1 year.
And how much you produced??? I am saying that to buy now is much better option, than start mining Mining will end soon, so I don't care at this moment about difficulty. Difficulty already is high So it's your choice I just rdp into my miner to fix any problems and have automatic startup scripts in case of power outage. I feel way better mining the ETH instead of buying ETH directly, since my investment went towards my actual mining hardware, not into ETH which has the ability to crash at any time, my mining rig on the other hand can be resold granted for a lot less than what I bought it and also used to mine other cryptocurrencies I have 5 rigs in my guest bedroom.
Post edited by ethfan on March People have been saying this for years and years about GPU minings. It's apparently always too late. Yet somehow, litecoin wasn't the last profitable coin for GPUs to mine People said not to get into it last year. Look now, super profitable. So, you did not read what I said! If 1 year ago I would buy Ethers with money I invested in equipment and electricity, now I would have more Ethers than I mined! This is what I am saying!
You do your own calculations! Point is that I was the same as you. I was a beginner and did not know how it works. That's why I invested in Equipment. I did not know where the price will be But Ether at this moment proofed that it is a big Crypto and very popular. So the price will go high. I don't care what you will do The difficulty is high already, So if there will come 's of new computers, it will not make big difference in income.
But for you guys it will make difference, you can make big money easy and fast couple of years or months, depends of ETH priceor you can make some money in very long term I came with real example my example and calculations.
If you don't want to accept it, no problem Everyone knows this, you only have to look at the history of the price of any coin and do the maths of how much more richer or poorer you would be if you invested in coins. The thing is though you came to this part of the forum "The mining forum", and made a post titled "stop building new rigs, ect ect", so tell me this, what's the point of it all?
Why would you come to the mining forum and tell potential miners to not build rigs? It's no loss to you if more people start mining, and it's no loss to you if they stop mining. This post seems comical given the value these days. This was posted in march. It was profitable long after march. Build rigs if you have a back up plan. If you are in it for the long haul and you know there will be thick and thin. I am a newcomer to crypto but I am not a new comer to business.
If I can get ROI on my current hardware then its mission accomplished. Hehe, as the second person to respond to this post all I can say is I'm glad I built a rig back in March when rxs were still plentiful. Already made ROI and so much more. Ops concept is right though, and holds even more true now. If you can't get your hands on a rig, at least do yourself a favor and buy some ETH. I don't regret building a rig at all I've learned so much throughout the process.
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Always do your own research and due diligence before placing a trade. Sooner or later, when the price drops for some reason, you can expect powerful movements.