My 2 months of doing nothing (mining) results

Discussion in 'Mining & Cryptocurrency' started by Nebell, Aug 15, 2017.

  1. Nebell

    Nebell Gawd

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    I got to the party late. As always. I started mining 17th June. It's 15th August today.

    Back in early June, everyone was freaking out about Ethereum and how profitable it was to mine. 2 weeks later (just as I was about to start mining) the prices went to shit.

    I was worried of course, as I bought two computers and 10 GTX 1060 (which I later upgraded to 13 1060 total). The difficulty went up, Ethereum price went down. But everyone still kept mining Ether. I went on mining Hush instead.

    I was hoping that Hush relative low market value and low total coin would keep the price going up, but instead it went down. Now it's worth about half of when I started, and the difficulty is a lot higher.
    I still mine it as the difference is not that big compared to other coins. It can still go up to its old price giving me suddenly twice the profit, or who knows maybe even a lot higher.

    But I couldn't wait. I kept selling Hush. And then I kept investing into other coins I found promising. I bought 100 Waves at $2, then 200 at $4.5. I bought 20 Neo when it was $7. I also bought 40 Radium at $6.7 each and 100 Shift at $1 each.

    If I kept mining Hush and hoarding it, I would have about $1000 now.
    But thanks to Waves and Neo going up, I have now about $2600 worth of coins. Just in the past 2 months. This makes my profit $1300/month.
    However there's a good chance that Waves could go 10-25 times its current price, and Neo maybe 5-10, that would boost my profit by a lot.

    Just don't ask me about electricity, it's not cheap here in Sweden. I just pay the bill and try not to think about it :D
     
  2. jmilcher

    jmilcher 2[H]4U

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    Plus the cost of the initial hardware. Roi is what keeps most people from mining.

    Still I appreciate the breakdown. Very interesting.
     
    dvsman likes this.
  3. Nebell

    Nebell Gawd

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    Well, I am close to Roi and the hardware is still worth some money if I decide to sell.
     
  4. lilbabycat

    lilbabycat 2[H]4U

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    I think i've just about paid off my 1070 with less-than-24/7 ~5days a week mining. I bought too many trash coins though, $200 basically lost into DGB, another $100 into others. Doing well with NEO(Antcoin) though. Wish I held onto more pure Bitcoin.
     
  5. Drewis

    Drewis Limp Gawd

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    yeah...

    that really is the secret.... not just to MINE but to TRADE as well. and mine other coins whilst doing so...


    im lazy. i just mine one coin... its fun as fuck :X

    edit: I think LBRY is going to be a sleeper. I started to mine it but I was getting shit dual mining speeds with Claymore.. also DGB I think might be a decent coin to hold..


    I cannot afford to hold any coins unfortunately.
     
  6. Drewis

    Drewis Limp Gawd

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    hey gents heads up - 'crypto driver' from AMD released about 2 hrs ago

    first reports not so good, DDU'ing now on 5x480 rig..

    no change for vega 64 except for future DAG sizes.....

    something doesnt add up with VEGA and ETH...
     
  7. shad0w4life

    shad0w4life Limp Gawd

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    Apparently this blockchain driver on vega 64 has it at 34Mh/s stock and 1000mhz mem it's 35Mh/s nowhere close to the 40Mh/s that other sites claimed but they went to 1100 or so.
     
  8. Drewis

    Drewis Limp Gawd

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    LEGITREVIEWS posted this first...


    I can confirm that all this driver does is FIX the ongoing DAG issue for AMD cards at the current time. It brought my 480's up to what they were PRE DAG 130 (24-28MH/s unmodded).

    They were previously doing 20-24.


    No extreme performance enhancement.


    Credit to MatHREX @ bitcointalk for posting.

    I just was the guinea pig.


    If you want to overclock, undervolt, control fan speed youre shit out of luck via crimson.

    Have to use afterburner.
     
  9. Drewis

    Drewis Limp Gawd

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    Can confirm now:

    After two DDU sessions: ALL controls work VIA CCC and that is amazing!!
     
  10. geekebox

    geekebox [H]Lite

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    Thanks for the breakdown. I stay on ETH mining...I think it still has potential to double current price. So i take the current mining profitability and double it ;). Stay optimistic.
     
  11. PodSpot

    PodSpot n00bie

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    I haven't decided yet in which cryptocurrency to invest, but I think that Eth has a potential. all market products have a life curve, ups&downs, so I guess Eth was on its down and now its recovering
     
  12. mope54

    mope54 [H]ardness Supreme

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    I'm confused on the math. You said you bought 13 cards and then a platform for them so how could you have made all that back in one month at $1300 per month?
     
  13. Nebell

    Nebell Gawd

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    I said that I am close to RoI, not that I have achieved it. Now I have.
     
  14. oblox

    oblox Limp Gawd

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    Through trading instead of instantly mining alts for btc for fiat.
     
  15. mope54

    mope54 [H]ardness Supreme

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    I understand the concept he was describing but the issue is he had only made $2600 at the time of his posting if he was averaging $1300 per month and now he's in his third month ($3900) so that is still not quite half of what he'd need to pay back on those 13 GPUs, the rest of the rig, and the electricity to run it all.

    Just seems like the math isn't working out based on the numbers he posted.
     
  16. oblox

    oblox Limp Gawd

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    Correct, he didn't ROI on just the mining revenue but rather was able to compound it from mining to get close to paying it off. Without knowing the exact amount he spent on the cards (whether they were inflated), the computer builds, and his electric, it's hard to know. On the face of things, it does seem off, but there have been quite the moves in both btc and alts to make things work in his favor. I wouldn't say most are this lucky in terms of timing of events.
     
    Last edited: Sep 13, 2017
  17. mope54

    mope54 [H]ardness Supreme

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    Swedish electricity rates are around $.25/kWh.

    He had to have spent at least $200 dollars per card, so those 13 cards were at least $2600.

    It's not that difficult to guesstimate the investment and operational costs.
    That said, we shouldn't have to be guessing at this if the thread is about ROI after a few months of mining. The math and variables should be laid out so I'm curious why it hasn't been.
     
  18. oblox

    oblox Limp Gawd

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    I bought nine 1060s in early June, mined about half a btc in that time and pay 12c kwh. Ex-trading, I've paid for those cards.
     
  19. mope54

    mope54 [H]ardness Supreme

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    OK? So you bought 2/3 of the cards he did, pay half the electricity, and have mined for twice as long.

    Not sure what point you're trying to make.
     
  20. oblox

    oblox Limp Gawd

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    ...because we started about the same time and according to his post today, he ROI'd. Not sure where you are getting twice as long?
     
  21. mope54

    mope54 [H]ardness Supreme

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    The post I quoted where I asked how he could be "close to ROI" was dated August 17th. That was just barely at two months for him and you said you've been mining for about 3 1/2 months.

    So yes, today he said he finally made his money back...but that's a full month after he posted that he was close.

    Anyway this is a stupid argument. Just post the costs and returns. WTF, why can't you just post the numbers if you want to have a discussion on how long it took to get your money back. That's what the thread was about this shouldn't even be a multi-response question when someone asks if you can please lay the math out in a thread supposedly about the topic of returns. You're acting like someone spit on your religious text or something.
     
  22. oblox

    oblox Limp Gawd

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    Close is relative, but awfully cunty response bro. Take your midol and relax.
     
  23. Nebell

    Nebell Gawd

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    Those GTX 1060 cost me €200 each. That's €2600 euros for all 13 cards. The rest was max €400 So yeah.
    But now that crypto has crashed I have about half of what I had before. ALthough I am a holder, I do not trasnfer my funds into fiat, not yet anyway, will do it sometime mid 2018.