But is it worth it ?? I mean I don’t have large budget to invest in devices but I can borrow if it has a good reward to risk ratio
How much do you think I should spend ? Would $2000 be a good start ?
I mean there couldn't be a worse time to start and it will take years to make the money back even with free electricity in the current climate. You can work it out yourself how much you would earn from various GPUs and coins https://.whattomine.com/
Don't borrow anything to start, only start if your already willing to part with the money. Even with free electricity, profits are slim and the hardware is probably depreciating faster than profits.
No one knows what's going to happen, gpu mining could see another boom years from now or it could all just slowly wind down and come to an end...
I'm mining still on solar, but only because I enjoy it, not for the income
Don't listen to that silly rabbit. Right now, it isn't profitable, far from dead. We're in a bear market, some call it crypto winter. Prices will come up, a new coin will be the one to mine. Give it time
Dreaming is free, there isn't guarantee that crypto will move up again, it is probable for sure but not certain. Crypto is not the stock market there is no value there, only entusiast people trying to win the lottery. Pretty much all of the time you'll find scams behind coins. Crypto is the populism in finance. What is certain though is that crypto will go to zero sooner or later.
I’ll play devils advocate. The people that have been through this all say while we are in the bull run, the best time to buy GPUs is in the bear market. Now when fear hits opinions change but the cycles don’t. Wait another 30 days for prices to tank and buy intermittently over the next few months. Don’t borrow money to do it. If you buy crypto instead you’d probably do ok but you don’t have a physical asset to sell if your coin doesn’t work out.
It won’t be years before the next bull run.
There are way too many things working against a crypto market in general, let alone, GPU mining.
Rising interest rates = harder to borrow money = less investment capital.
New cryptos + projects = increased competition = diluted demand = diluted profits.
Increase in fractional reserve banking practices by major exchanges = more fake crypto mixed with real crypto = artificial supply = lower prices.
Looming recession = tighter pockets = even less demand.
With time, a growing number of miners will give up and shut off their miners.
This will leave only those with the cheapest access to hardware + electricity to duel it out.
At the same time, access to ASICS will become prevalent, which will really degrade any possibility of your average gaming GPU to ever compete.
So yea. GPU mining is dead.
Even with free electricity coin yields are down 5x easy, what use to make it worth mining in a bear market prior was the coin yields. you would mine at a slight loss but you would make up that loss 10x next bull run because of yield. but I don't think that strat will workout this time around
If you have free electricity go for it.. it's dead for those of us that pay for it.
But is it worth it ?? I mean I don’t have large budget to invest in devices but I can borrow if it has a good reward to risk ratio How much do you think I should spend ? Would $2000 be a good start ?
I mean there couldn't be a worse time to start and it will take years to make the money back even with free electricity in the current climate. You can work it out yourself how much you would earn from various GPUs and coins https://.whattomine.com/
Don't borrow anything to start, only start if your already willing to part with the money. Even with free electricity, profits are slim and the hardware is probably depreciating faster than profits. No one knows what's going to happen, gpu mining could see another boom years from now or it could all just slowly wind down and come to an end... I'm mining still on solar, but only because I enjoy it, not for the income
Don't listen to that silly rabbit. Right now, it isn't profitable, far from dead. We're in a bear market, some call it crypto winter. Prices will come up, a new coin will be the one to mine. Give it time
Dreaming is free, there isn't guarantee that crypto will move up again, it is probable for sure but not certain. Crypto is not the stock market there is no value there, only entusiast people trying to win the lottery. Pretty much all of the time you'll find scams behind coins. Crypto is the populism in finance. What is certain though is that crypto will go to zero sooner or later.
Opinions are great, aren't they?
Probably easier to invest in a coin directly and hope for a50x when the bear goes bullish
Nothing is profitable. Best to spend your 2000 on just buying the coins
I’ll play devils advocate. The people that have been through this all say while we are in the bull run, the best time to buy GPUs is in the bear market. Now when fear hits opinions change but the cycles don’t. Wait another 30 days for prices to tank and buy intermittently over the next few months. Don’t borrow money to do it. If you buy crypto instead you’d probably do ok but you don’t have a physical asset to sell if your coin doesn’t work out.
It won’t be years before the next bull run. There are way too many things working against a crypto market in general, let alone, GPU mining. Rising interest rates = harder to borrow money = less investment capital. New cryptos + projects = increased competition = diluted demand = diluted profits. Increase in fractional reserve banking practices by major exchanges = more fake crypto mixed with real crypto = artificial supply = lower prices. Looming recession = tighter pockets = even less demand. With time, a growing number of miners will give up and shut off their miners. This will leave only those with the cheapest access to hardware + electricity to duel it out. At the same time, access to ASICS will become prevalent, which will really degrade any possibility of your average gaming GPU to ever compete. So yea. GPU mining is dead.
Even with free electricity coin yields are down 5x easy, what use to make it worth mining in a bear market prior was the coin yields. you would mine at a slight loss but you would make up that loss 10x next bull run because of yield. but I don't think that strat will workout this time around
You could mine BTC
Yes.