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How much have you actually made mining?

M

m3ryno

n00b
Joined
Nov 14, 2013
Messages
5
All you hear these days is mining, mining, mining. So I'm curious, miners, what are your real world profit margins after you factor in the cost of equipment and electricity?
 
From my 5850 I would say around $700

If I had held a bit longer I could have made an order of magnitude more.
 
Profit? I just got into it after having bought one of the cards and I'll be happy if I break even (which at this rate, will be in a month and a half)

It's an interesting side hobby, but I don't see how I would make a serious gain from it without spending an enormous amount of money and time in micro-managing.
 
As with other people who have been mining, I'll say enough over the years...

now it's more about balancing between profits, equipment purchases, and day trading.
 
In other words...

After electricity cost, equipment, and factoring in the risk and fragility of the entire mining community, 99% of people lose money or gain little to nothing. Unless of course you have the money for a full scale operation.

WIth scrypt ASIC's around the corner, profits will be non existent for the average GPU miner, assuming they arrive.
 
Just like to don't buy in stocks when they are high, you don't start mining when it's popular; by then it's already relatively late.

Mining when it is popular and hardware prices peak is just like buying in high to sell low. (without shorting).
 
About $4.5k profit. I've been out of it for a few weeks. I knew it wasn't going to last through the summer; didn't expect that it would peter out so fast. Sure was nice heating the house though :D
 
When you say profit, is this money actually in your bank account or is it still 1s and 0s on the internet waiting to actually be turned in to money that can be used on actual things.
 
veedubfreak said:
When you say profit, is this money actually in your bank account or is it still 1s and 0s on the internet waiting to actually be turned in to money that can be used on actual things.
Click to expand...

I don't know about anyone else, but I'm completely out of crypto at this point. I don't like to speculate, so I never held onto any form of currency. Immediate exchange from altcoin to bitcoin, then sold in increments of about 0.75 BTC to dollars (there are flat fees, so more than that was not cost effective).

Is it surprising that people actually did make real cash on this venture?
 
I'm still negative, BIG time.

Just sitting on a pile of crypto, that may or may not become worthless in the future.
 
I cashed out about $800, still have a crap ton of LTC. Which would make me -$700 currently since I bought an extra 7970 and 290 as well as some other things specifically for mining. If I sold out now I would be breaking even lol, if the prices were $25~ again I would make some.
 
Total in BTC 1.99657956

Total out BTC -1.84868142 (gift cards, electricity payment, flat out hardware purchases).

Total Hardware 791.42 (out of pocket when 280x were kinda cheap)

Hardware Even +567.7 (profit after hardware expense above).

Starting mining in November 2013. I did the pool mining thing and found it better to solo mine for the bigger rewards. I thank Lotto, KDC, and now DOGE for all the profit. But then again... most of this was when BTC was over $1k. Im down to $20 - $30 a day in profit. depends on when the doge blocks happen.
 
Worth to mention I made more money buying crypto and selling it than I did mining.
 
On my 7950, with on and off mining, I made about 7BTC ( sold at average of $100 each.. ) -- lost it all on Gox anyway

On my 290(x), made about .4BTC mining but have traded it up to 1.2BTC.
 
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