4 ms·
What about GPU mining ETH and others via something like nicehash? Is this a reasonably safe bet (relative to just buying the coins outright)? I'm mostly looking
by jrs95 9y ago
What about GPU mining ETH and others via something like nicehash? Is this a reasonably safe bet (relative to just buying the coins outright)? I'm mostly looking at it as a means of building a new workstation and have it pay for itself over the course of a year or so while I'm not using it.
- jliptzin 9y agoUnless you are situated next to a hydro electric power station that provides very cheap electricity stay away from this. you will build a rig then as the difficulty goes up you'll watch all your profit eaten away by electricity costs.
- jrs95 9y agoYeah, I was sort of concerned about what 20xx Nvidia cards could end up doing to the difficulty. I'm really only considering it because I'd also use those cards for other things.
- where_do_i_live 9y agoA year? the ROI for that would be like 5 years - you over-estimate the profits currently. It was profitable back in March far more than it is now - the gold rush with mining is over.
- jrs95 9y agoBased on my electricity costs it looked like it should be a little over 8 cents an hour for a ~$500 GPU, but I could've had something wrong there.
- where_do_i_live 9y agoSure, but how much crypto currency are you going to get out of it from a pool? if you get 8.1 cents per hour, well that's not exactly that exciting. I've been a miner for years, and I'd recommend you take a look at your expectation of profit, it is profitable still, but get ready to be disappointed.
- xur17 9y agoIf you're going to use the video card anyways, mining will easily cover the electricity cost of mining in most areas, and can be a decent way to cover part of the cost of the card. That said, I wouldn't buy video cards specifically for mining unless you have access to very cheap (or free) electricity.