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In the "invest in ETH" example, you're taking the appreciation of ETH into account, but in the case of mining crypto, you're ignoring it. Still, you're right i

by kmkemp 9y ago

In the "invest in ETH" example, you're taking the appreciation of ETH into account, but in the case of mining crypto, you're ignoring it. Still, you're right in the overall point that just investing is more profitable. If you are going to gain value from the GPU, though, mining is a great way to make some extra cash.

corford 9y ago
Sorry, I just assumed ETH was out of reach of personal mining now. Sure, you could hold "shitcoins" that are currently easier to mine but that's a lot more risky than long term holding something like ETH, LTC, XMR (at least I think it is anyway).
- metamet 9y ago
  It takes 3 months to make all of your initial investment back on mining ETH with a 1060, after electricity.
  - corford 9y ago
    That's actually better than I would have imagined. What's the difficulty growth like with ETH these days? Or, what's a safe estimation of how many ETH a 1060 could mine before Casper lands?
    - alexktz 9y ago
      3 months is longer than 108 days ;) I don't mine ETH directly with Nvidia hardware though it is still profitable on AMD gear. I use whattomine.com to get a rough estimate of my daily earnings... I mine to a pool called miningpoolhub which auto exchanges my shitcoins to LTC (or whatever I choose). From there I send to Coinbase -> GDAX -> Sell for ETH or FIAT. So far, since starting mining 1 month ago I have ROI'd 1.8 1080ti's already. Once they've paid themselves off the rest is pure profit and the best part, GPUs have intrinsic value beyond mining. Also as per other commentors - coins I mined will appreciate too. If I buy ETH with FIAT (which I have also done btw) I am literally buying thin air. At least with GPUs I own a thing if the shit hits the proverbial! - whattomine.com - https://goo.gl/94KHv4 https://goo.gl/94KHv4 - https://simplemining.net/ https://simplemining.net/ - https://miningpoolhub.com https://miningpoolhub.com
      - Fnoord 9y ago
        > 3 months is longer than 108 days ;) Following the Gregorian calendar (international defacto standard) this statement is always false, never true. There's no way all these coins are going to be accepted currencies (literally none are, not even Bitcoin). There's no way all these coins will retain long-term value either. Anyone who joins in on the mining is doing two things: 1) joining in on the pyramid schemes (on which you as miner and cryptocurrency owner depend) 2) adding to more electricity waste. As for GPUs. Once the shit hits the fan their price will freefall. If their price falls now, they're pretty much worthless. More so because many of them will be abused. GPUs aren't made to be used 24/7. But yeah, you can play games on all your 1080s...
- ncallaway 9y ago
  Pretty much any coin that you mine could be exchanged into the coin that you would prefer to hold for the appreciation. So: * Mine whatever is most profitable to mine at that time. * On mining that coin, convert to whichever investment vehicle gives you the risk/return that you want (BTC, ETH, XLM, VFIFX, US T-bonds, etc).

by kmkemp 9y ago

corford 9y ago

Sorry, I just assumed ETH was out of reach of personal mining now. Sure, you could hold "shitcoins" that are currently easier to mine but that's a lot more risky than long term holding something like ETH, LTC, XMR (at least I think it is anyway).

metamet 9y ago
It takes 3 months to make all of your initial investment back on mining ETH with a 1060, after electricity.
- corford 9y ago
  That's actually better than I would have imagined. What's the difficulty growth like with ETH these days? Or, what's a safe estimation of how many ETH a 1060 could mine before Casper lands?
  - alexktz 9y ago
    3 months is longer than 108 days ;) I don't mine ETH directly with Nvidia hardware though it is still profitable on AMD gear. I use whattomine.com to get a rough estimate of my daily earnings... I mine to a pool called miningpoolhub which auto exchanges my shitcoins to LTC (or whatever I choose). From there I send to Coinbase -> GDAX -> Sell for ETH or FIAT. So far, since starting mining 1 month ago I have ROI'd 1.8 1080ti's already. Once they've paid themselves off the rest is pure profit and the best part, GPUs have intrinsic value beyond mining. Also as per other commentors - coins I mined will appreciate too. If I buy ETH with FIAT (which I have also done btw) I am literally buying thin air. At least with GPUs I own a thing if the shit hits the proverbial! - whattomine.com - https://goo.gl/94KHv4 https://goo.gl/94KHv4 - https://simplemining.net/ https://simplemining.net/ - https://miningpoolhub.com https://miningpoolhub.com
    - Fnoord 9y ago
      > 3 months is longer than 108 days ;) Following the Gregorian calendar (international defacto standard) this statement is always false, never true. There's no way all these coins are going to be accepted currencies (literally none are, not even Bitcoin). There's no way all these coins will retain long-term value either. Anyone who joins in on the mining is doing two things: 1) joining in on the pyramid schemes (on which you as miner and cryptocurrency owner depend) 2) adding to more electricity waste. As for GPUs. Once the shit hits the fan their price will freefall. If their price falls now, they're pretty much worthless. More so because many of them will be abused. GPUs aren't made to be used 24/7. But yeah, you can play games on all your 1080s...
ncallaway 9y ago
Pretty much any coin that you mine could be exchanged into the coin that you would prefer to hold for the appreciation. So: * Mine whatever is most profitable to mine at that time. * On mining that coin, convert to whichever investment vehicle gives you the risk/return that you want (BTC, ETH, XLM, VFIFX, US T-bonds, etc).