Big scale miners yes. For most home miners, profitability will likely mean it just wont be worth it.
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FINALLY A DEAL ON GPU'S - IT HAS BEEN TOO LONG (NVIDIA 3060 & 3060Ti) !!
- Thread starter Gibbo
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Big scale miners yes. For most home miners, profitability will likely mean it just wont be worth it.
have to disagree, unless its minus, then any money is still money, even a quid a day, is still extra 30 quid a month, its just pocket money to some and theres other coins out there which are not far off eth price atm, so you be looking around 2 quid a day or more for say a vega 56 on other coins
I would hope that people would be far less inclined to literally burn our energy supplies for the princely sum of £1 a day.
You overestimate the average person..
Are they not a fire risk, i wouldnt want to leave my house with a mining rig running non stop for a poxy £1 or 2 a day. Smells of despiration to me
well some folk are desperate in this world, and those with bills to pay, some ppl dont have mammy and daddy to gve them roof over head or live rent free while they sit on their asses all day doing squat, some folk have to make a living
Hm, not sure the majority are going to be bothered for such meagre returns. I know financially you may as well, but unless someone has a dedicated 2nd pc to leave on 24/7, its probably not worth it.
Soldato
This is when you can tell who understands mining or not. Going back to my reposte with @aimless comment.. you dont have to mine and sell as you go! There are people that do this and it also tends to be while profits are sky high i.e. May was £11 a day.
e.g. ETH in Dec 2020 was 'worth' £420 a token. If you were selling it as you mined it you were a muppet. If you kept it in your wallet till 12th May 2021 you could have sold that 1 ETH for almost three grand. That's a mammoth difference and while it was probably costing you 10p a day at some point, overall its made you tons in profit and covered the electric easy.
Anyway it is what it is.
e.g. ETH in Dec 2020 was 'worth' £420 a token. If you were selling it as you mined it you were a muppet. If you kept it in your wallet till 12th May 2021 you could have sold that 1 ETH for almost three grand. That's a mammoth difference and while it was probably costing you 10p a day at some point, overall its made you tons in profit and covered the electric easy.
Anyway it is what it is.
That just sounds like a very childish dig
That's because it is.
e.g. ETH in Dec 2020 was 'worth' £420 a token. If you were selling it as you mined it you were a muppet. Is.
Very easy to say in hindsight , but no one knew that prices would keep increasing.
Crypto just forever increasing and increasing is not a given. It might well do, it might not. There are a whole host of things that could happen in the meantime.
You can't just call anyone who didn't bet on it increasing a muppet, as no one can see the future.
So it's basically gambling on the price going up, then. Mine at £1 a day and hope it moons so you can sell at a price equivalent to £11 a day, if you're lucky. Or you mine the wrong coins and it's worthlessThis is when you can tell who understands mining or not. Going back to my reposte with @aimless comment.. you dont have to mine and sell as you go! There are people that do this and it also tends to be while profits are sky high i.e. May was £11 a day.
e.g. ETH in Dec 2020 was 'worth' £420 a token. If you were selling it as you mined it you were a muppet. If you kept it in your wallet till 12th May 2021 you could have sold that 1 ETH for almost three grand. That's a mammoth difference and while it was probably costing you 10p a day at some point, overall its made you tons in profit and covered the electric easy.
Anyway it is what it is.
But can still afford a £500 gfx card?
Exactly. You'd be better off selling the GPU, if you were that desperate. And if you needed money to pay the bills, £1 a day isn't going to save your bacon, is it.
The whole idea that mining with a Vega 56 card making £1 a day is anything other than a waste of time and energy is laughable.
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I've got 2 cards with the 3090 FE being my primary gaming/AI card and 3080 MSI bought for mining (Total outlay £2200)
I've already made nearly £1100 since Feb mining with them both, recently profitability went down but I still stand to make £300/month for the next 6 months until ETH 2.0 at which point I'll switch to ERGO and convert that to Ethereum- win win really.
I would have made back both my cards value and then some and still have the option of selling one of the cards, you can see why all the home miners have done this as its too good to pass up!
Please don't hate me, I just felt that if you can't beat them then join them!
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@GhostDog1981 There's no such thing as something that's too good to pass up 
A few of us here just don't like crypto and won't be getting into it, ever. It's a ridiculous "invention" that has so many drawbacks and solves no problems.
It's a speculative vehicle for people to gamble on, and that's pretty much it. If that's your thing, enjoy it while it lasts. I'm hopeful it's going to be regulated into obilvion at some point.
A few of us here just don't like crypto and won't be getting into it, ever. It's a ridiculous "invention" that has so many drawbacks and solves no problems.
It's a speculative vehicle for people to gamble on, and that's pretty much it. If that's your thing, enjoy it while it lasts. I'm hopeful it's going to be regulated into obilvion at some point.
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@GhostDog1981 There's no such thing as something that's too good to pass up
A few of us here just don't like crypto and won't be getting into it, ever. It's a ridiculous "invention" that has so many drawbacks and solves no problems.
It's a speculative vehicle for people to gamble on, and that's pretty much it. If that's your thing, enjoy it while it lasts. I'm hopeful it's going to be regulated into obilvion at some point.
Fair enough, its not everyone's bag...
Soldato
So it's basically gambling on the price going up, then. Mine at £1 a day and hope it moons so you can sell at a price equivalent to £11 a day, if you're lucky. Or you mine the wrong coins and it's worthless
Well yeah. Its basically not 'you can only mine and cash out as you go along' earning a pound a day, when you put it in your context it sounds ****. If you save the pounds worth for a while then exit when its triple the value, you have ended up mining like it was £3 a day...
Its not rocket science. Haters gonna hate regardless.
Me, I mine when I'm not gaming. I been at it since around 2012 on GPU's, its not like a new fad some people seem to drift into/out of it. If anything the past three or four gens its one of the factors I bring in to the purchase (can it mine well).
Before I mined I done the grid computing, science stuff (folding@home etc) so a PC has been a multi-use tool for me not just a gaming machine.
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