that aint too bad
my machines would run 24/7 have to math some of that
any realestate ? 150k or less ?
that aint too bad
Tons of it. Texas has some of the lowest Cost of Living in the USA.
There’s an acre of land within my city limits that is like $3,000?
a place to sleep and power net and sewage ?
Naw, just bare land.
Honestly, if it’s sub $150K you are looking for, building a small building for it would cost like $90K max. I was looking at doing that at one point and that was about what I could come up with for a quote.
That’s assuming it’s just a bedroom, bathroom, kitchen, and living room. City ordinance requires all livable dwellings be 600 sq ft or larger but there are ways around that like a two story.
Wrong again. You forget to factor in, like with the purple line, the all important resale value of your miner! hahaha
Details I’d need to be able to predict if your little operation would be genuinely profitable.
Like you should be expecting. Like any sane human being that doesn’t want to lose money would want.
And your answers didn’t add up.
Explain to me the inaccuracies and how to rectify them. Go on. Answer the question.
Already done that. Not gonna do it again.
TL;DR tho: Using “in the moment” values for calculating future profitability is inherently inaccurate and thereby pointless when you know for a fact they’ll change.
The only way I can see you covering your costs is by hoping that the coin you mine will become worth more after you’ve mined it, in which case you might as well have just bought the coin.
Unless you want to give me a more detailed estimation as to how much you’re going to make over the next few months. Or do you want me to just tell you what you need for this to be genuinely sans-if profitable?
The only way mining is more profitable than buying is if the electricity cost is less than the coin cost for the same amount. I get that. I believe that will always be the case in some way or another, otherwise I wouldn’t have bought the mining hardware.
The reason I think that even though history has shown that there are times when mining is less profitable than buying is because Ethereum is an ASIC-resistant coin. Even if it fails or adopts PoS, it’s an example of what is possible that I am certain other people will use. Meaning, there will be more ASIC-resistant coins, and there will likely be profitable ones among them.
I can’t give you numbers because I don’t know what the numbers are going to be when I stop mining Ethereum or what coin will be profitable (if any).
Just like I don’t know if Ethereum will be worth more in the future or not. It’s like you’re asking me to tell you what Ethereum will be worth in 4 months. How am I supposed to know that? Any effort given to work out what I’d need to be profitable will not change whether I will be profitable or not. It will only tell me the exact limits and that is pointless in my eyes.
I’m good. Thanks though.
Of course you do, you’re the one 2400 deep. That’s why it applies.
After all this discussion and realizing the minimal difference between buying and mining (electrical vs coin cost difference), it feels like there’s a wash between the two. Meaning, both are just as likely to be profitable and about the same amount of profitability in the end compared to risk.
Mining has a larger up front cost with potentially smaller costs each month while buying coins just has the cost each month or whenever you prefer to buy them. The only way mining is better is if the lower cost to buy lasts longer than the hardware does. So the only reason to choose it over buying is if you think that will be true.
Funny thing. I do.
So if they’re the same in other areas, mining has two negatives in a large upfront cost and a lack of freedom in when you put in money. That is, the electric bill is usually due the same time each month, rather than when you buy coins being up to you.
It feels like mining has added complexity and uncertainty for the same potential in most cases.
Small scale mining is much more expensive. This isn’t a minimal difference.
How the heck is this your take (outside of purchase rationalization, that is)
At least @KuramaKitsune was multimining/hash renting and got out early/plans on getting out.
small scale mining isn’t profitable since the Ethereum craze started
The only profitable miners (eth maximal) right now are the early actors that got in at sufficient scale, and even then they’re working on thin margins. This is common knowledge.
We’re not just trying to be mean, we’re trying to educate. The disagreements you have with us seem to stem from a lack of basic fiscal literacy, which is fine, we don’t really teach it in the US, but it’s still a good thing to study, and I recommend you do so moving forward.
I’m in debt up to my fucking eyeballs
but that’s because I put everything on credit
And then one month past and immediately Bitcoin started doing all this crazy bullshit
and i. started making like a quarter of what it was for mining
Unfortunately I have to move out of California but the silver lining of that is hopefully I can move to Washington and have literally a third of my power cost from $0.27 all the way down to0.09
If I’m able to get up to Washington even with the low profitability that I have been experiencing for the past month I could still be making almost 35 or $40 a day
At least it was a learning experience.
Also: I warned u dawg
“Maybe the real mining reward was the friends I made along the way”
3 months roi turned into 12 if everything stays like it is today
so lets hope it comes back lol
Difficulty is guaranteed not to.
There’s a reason big operations are constantly buying cards.
Wish you the best man, hope you break even some day.