Is it worth it?

Announcement - Help us fight the BOTS! Please report all spam including stuff in your inbox!

lordxenu

Member
Joined
Aug 17, 2018
Messages
61
I'm no stranger to mining.

Back in 2012 I had ASICs
In 2013 I mined two whole bitcoins on an Nvidia 7990 which btw was an awesome card ..
In 2014 I bought 3 x R290x and mined altcoins on a profit switching pool.

then I gave up.

Now, however, I have some free electricity and I'm quite happy to add more solar too since I can get good prices for panels and I actually want to increase my powerwall panels capacity.

So is it worth it ? What are people mining these days ? Etherium ?

I had actually wanted to buy an antminer s9 but they were overpriced, short supply and would arrive so late that they wouldn't really be profitable at all even with no electricity cost.
 

Korishan

Moderator
Joined
Jan 7, 2017
Messages
6,527
Peter runs his mining rig periodically when he has excess power. I think he's even set up some scripting so that it get triggered to start when the batteries are full and plenty of daylight left, and then shuts down when they drop below X%.

I think with the right hardware to mine with, and if you have excess energy, it'd be worth it. Not having to deal with electricity costs helps a lot in this area. I know buying the panels is like paying for power, but they are bought once and pay for themselves in a relatively short time, and their costs go down over time, not up like utility power does.
 

lordxenu

Member
Joined
Aug 17, 2018
Messages
61
Yeah I've seen a few of petes YT vids.

It reminded me that I've scripted my immersun in a bash script, so I can easily detect excess power and start the mining. What i'm wondering now is what equipment I should get and what coins I should mine.
 

zag2me

Member
Joined
Sep 11, 2017
Messages
106
In summary, no it isn't worth it at the moment even with free electrics I don't bother at the moment with 1 ASIC miner and a dual 1070 setup.

I spent 6 months mining and made about 400 I think, just about paid for the ASIC miner that is now a doorstop haha
 

BitcoinBandit

Member
Joined
Apr 20, 2019
Messages
32
Mining is only worth it if you know how to play the long game, choose the right cards, choose the right algo. Remember profit is not measured on the day you mine the coin it is measured on the day you sell the coin. In general I do not sell a coin up to twelve months later, often in a window peroid of only a few days, sometimes hours. Its about assessing the worth of a project and the quality of the dev team. I have been mining now continous since 2103. Wish I had been on to this idea a long time ago. I already have 675 aH @48v of lead acid capacity and should have gone lithium much harder much earlier.
 
Top