Mining Ethereum

Discussion in 'Ethereum' started by oportosanto, Aug 11, 2017.

  1. oportosanto

    oportosanto Moderator

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    Mining for bitcoin days are gone, meaning we cannot mine without a huge investment in order to get a profit. What about mining for ethereum? Do you think it's something profitable?
     
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  2. Justice

    Justice New Member

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    Don't quote me on this since I am not an expert but I read an article that discussed if mining Ethereum is worth it and the guy basically said that the actual mining difficulty went up. It is still possible to gain from it obviously but I think you need a really good specced rig.

    Also, it depends on the price of Ethereum and so on.

    Look here:

    https://www.quora.com/How-easy-is-to-mine-ethereum-and-is-it-still-worth-doing-so

    This guy did some basic formula calculations of estimated profit per month. Hope that this helps :)
     
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  3. Authord

    Authord New Member

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    Will give a try, but for now am sticking with my bitcoins, but come to think of it investing in Ethereum now can be a huge gain in future and also a great loss, if the unexpected happens. well it's worth the risk
     
  4. oportosanto

    oportosanto Moderator

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    Will give it a try is an understatement lol because to mine ethereum you need a couple thousand dollars on graphic cards that are currently sold out, so it's hard to build the rig.

    Thanks for the feedback @Justice, I suppose it will depend on how high ethereum is, once again the fluctuation of the coin.
     
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  5. Justice

    Justice New Member

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    Yep! It definitely depends on the whole fluctuation thing... but unless you have the needed rig - most of the people that I've read comments from are mentioning 4 GPUs among other things - don't even bother mining. You might have to invest more than what you will end up making for ages :D
     
  6. oportosanto

    oportosanto Moderator

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    Our friend @RyanWeb has built one of those and he had to search the world to buy those cards, last time I asked he said it was just covering electricity costs I believe. We never know if it works until we try though. Also, what if in a few months ethereum value rises? :)
     
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  7. Vatroslav

    Vatroslav Member

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    My friend is currently mining Ethereums. He had to invest a lot of money into the rigs and the electricity bills are big. He thinks he will start to gain profit in about 4 to 6 months.

    So, it is a risky and costly investment but if you have patience and commitment for those 4 or 6 months you will start to earn a very solid income.
     
  8. Justice

    Justice New Member

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    Yeah, there's always that ''what if'' which bugs me as well. It's really hard to say ''no, it isn't worth it'' because the prices go up and down. Just look at BitCoin, not many people would ever predict for it to go over $4.000 in such a short amount of time.

    I personally just don't have the means to even build such a computer let alone take the risk that's needed with mining Ethereum. How much did Ryan pay for his computer? I bet a fortune :p I'm very jealous.
     

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