Bitcoin is still early

[nycEMMD]

not salty. typing shitcoins is just easier than “alternative crypto assets” or whatever.

i wouldn’t call what i’m doing a “farm”
but i’m working on it. my power costs aren’t low enough to ramp up a bunch of scale on my personal property but there is some semi local hosting infrastructure that i can access if needed

have you actually been around some asics?

Yes and it's not pleasant. Even if you're separated by a floor, that constant humming sound wound drive me crazy. Get anywhere closer and it turns into an air siren, no thanks

How much does your electricity cost? Most mining equipment stays profitable for longer now, doesn't become obsolete in 15 months like the earlier days of BTC. if you can run your equipment for 3-4 years and maintain profitability you'll be sitting on a nice pile of coin

Thanks for the IRS link

[udrag14]

no one is profitably mining bitcoin with GPUs

You can be (and I have). Easy to check on https://www.nicehash.com/profitability-calculator

[jacoavlu]

You can be (and I have). Easy to check on https://www.nicehash.com/profitability-calculator

No

if gpu mining of bitcoin were profitable asics wouldn’t exist

[udrag14]

No

if gpu mining of bitcoin were profitable asics wouldn’t exist

ASIC were better before the new NVDA cards. The new NVDA cards had much better hashrates and are cost efficient.

ASIC has little to no resell. NVDA keeps a nice value.

Just because something exists doesn't make it the standard.

[jacoavlu]

ASIC were better before the new NVDA cards. The new NVDA cards had much better hashrates and are cost efficient.

ASIC has little to no resell. NVDA keeps a nice value.

Just because something exists doesn't make it the standard.

you have no idea what you are talking about

[udrag14]

you have no idea what you are talking about

you have no idea what you are talking about ->>>> Maybe actual use data/numbers instead of spewing nonsense.

Rough calculation...ASIC is 4x the performance for 10x the cost, but yeah, I have no idea what I'm talking about.

And, I have real world data because I have been mining off my graphic card quite profitably

[jacoavlu]

you have no idea what you are talking about ->>>> Maybe actual use data/numbers instead of spewing nonsense.

Rough calculation...ASIC is 4x the performance for 10x the cost, but yeah, I have no idea what I'm talking about.

And, I have real world data because I have been mining off my graphic card quite profitably

share numbers

[adventure]

share numbers

yeah, data from everyone please. Enough banter - my GPU isn’t mining anything useful from the recent conversation!!!

[udrag14]

share numbers

From a GTX 2080 Super...not even current gen

Where are your ASIC numbers?

[Zaphod]

Was just doing some mining research, and it does appear that multiple 3090 or whatever 4 or so (equalizes price) is equivalent to an asic miner, comes down to electricity cost.

What I cant seem to make work is...if you believe the price is going up, I'd rather just buy the coin directly with that startup capital and dca whatever monthly running costs would be.

[jacoavlu]

From a GTX 2080 Super...not even current gen

Where are your ASIC numbers?

your payouts from months ago don’t really mean anything. i’m sure you understand that.

[jacoavlu]

Was just doing some mining research, and it does appear that multiple 3090 or whatever 4 or so (equalizes price) is equivalent to an asic miner, comes down to electricity cost.

What I cant seem to make work is...if you believe the price is going up, I'd rather just buy the coin directly with that startup capital and dca whatever monthly running costs would be.

yes. it can be a challenge to justify mining bitcoin over buying spot

[udrag14]

your payouts from months ago don’t really mean anything. i’m sure you understand that.

Compared to your non existent payouts, my old ones mean a lot more.

I switched over to ETH mining so yeah....using your own original quote

you have no idea what you are talking about

[jacoavlu]

Compared to your non existent payouts, my old ones mean a lot more.

I switched over to ETH mining so yeah....using your own original quote

you have no idea what you are talking about

so wait why aren’t you mining BTC with your GPUs?

i am mining BTC profitably with new gen hardware at residential power cost of about $0.10 / kwh. current profit is around $0.25 / kwh but that is highly variable as overall network hash rate is increasing and of course price of BTC is highly volatile.

i have no doubt my setup could soon be operating at a loss

margins are shrinking and likely to approach zero. that’s how free markets work

you are not profitably mining BTC with GPUs

[udrag14]

so wait why aren’t you mining BTC with your GPUs?

i am mining BTC profitably with new gen hardware at residential power cost of about $0.10 / kwh. current profit is around $0.25 / kwh but that is highly variable as overall network hash rate is increasing and of course price of BTC is highly volatile.

i have no doubt my setup could soon be operating at a loss

margins are shrinking and likely to approach zero. that’s how free markets work

you are not profitably mining BTC with GPUs

Where are your numbers? Still don't see hard proof.

You literally say I'm not profitable but I am lol. I made around 80 to 100 dollars a month while electricity was maybe 20 bucks. I call that profit.

I switched to ETH because I could make profit from mining and then stake with ETH2.

This YouTuber also made a setup using GPUs. https://youtu.be/bfZpZB2T4Go

If you are barely making profit, you are doing it wrong.