Quote:
Originally Posted by Knuckle
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crypto currencies stopped being profitable for individuals to mine a long time ago, US municipilities bill on kw/hr, they are also considering "peak load" billing, which will not be cheaper. You are not making a return on investment at this stage unless you mine some penny crpyto that shoots up and you sell after. In which case, it would of probably been cheaper to just buy the crypto before it shot up.
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This is literally fake news, fam. The only thing that has changed happened within the last couple of months (price of GPU went up). Now instead of breaking even in 2 months, you break even in 6-8 months. But if you already owned the GPUs and bought them for gaming, you're already more profitable by beginning to mine than you would be by choosing not to.
In this particular case, someone who cannot even afford a 3060 could literally finance a computer and allow the Ethereum to make the monthly payment on it and still pocket $50/monthly afterwards. You really shouldn't talk about things you know nothing about.
Edit: I think you're one of those people who misinterprets people like Vosk when he says that it's cheaper to buy Crypto than it is to mine it. That's only true to in the short term. Someone bought $800 worth of Ethereum, wow that was fast. Someone bought an $800 GPU to mine Ethereum. 3 months later they've only mined $600 worth of Ethereum. Wow, they look so dumb compared to the person who just bought the Crypto. 12 months later they have $2400 worth of Ethereum, which is roughly $1600 worth of Ethereum after you account for the cost of the card. If you're looking to day trade Ethereum, you're probably better off buying some crypto to trade with. But if you're patient and mine crypto, you'll earn significantly more crypto once you hit the break-even point, which for most GPUs, is 8-10 months in the current market (price of GPUs won't stay this high forever, it's not sustainable).
You'll never convince me it's not profitable however, because I literally used GPUs I had sitting around for months, barely being used, to literally buy more GPUs. Imagine that. Having a $1200 GPU arrive in the mail that you bought using Crypto you never spent a dime on, other than electricity costs (which are extermely low for non ASIC miners).