At the moment mining can be very profitable but will there be an end to this? At the moment I am toying around with the idea. It is a bit of an investment but is the risk vs reward worth it?
I am an investor not a miner but I am thinking of trying my hand at it, I want to share my thoughts and concerns with you and hopefully shed some light on this for all of us.
On https://www.cryptocompare.com/mining/ you can find the stats on this, the highest value for mining at the moment is Ethereum coming in at $31.69 per week. This doesn't sound like much but it's is calculated on one graphics card, so if you were to scale it up there could be a lot of profit to be made. So if I buy 10 graphics cards at roughly $200 that's $2000 inital investment, that means I will be making $319.60 per week taking just over six weeks to make back investment.
Sounds good but in Bitcoin this number was initially set to 50, halved to 25 in late-2012, and halved again to 12.5 in mid-2016. The next halving event expected is around mid-2020.
This halving process will continue in this fashion, halving the block reward approximately every four years / 210,000 blocks, until all 21 million bitcoins are created. With the cryptocurrency market being so volatile could it change like this for ETH or even more rapidly?
What do you think? Is it worth mining altcoin?
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It will be very worthwhile to mine in my opinion. I also went down to this route, however i am stuggling to find a right place to put the rig because it you want to do it in a relatively large scale ( say 10 6s gpu), it will generate a lot of heat and noise. Just something to keep in mind i guess.
That's great, thanks for your response. Have you had any major issues while mining?
no as today i am still trying to solve the issue but i think those would be minority as long as you find a suitable place to do it.
I dont think you will find any cards for around $200. Plus difficultly increases.. 6 weeks is not correct.. There are many other that could give you a better ROI like 4 months... Now thats just a guess hopefully someone can reply better with returns on payback equipment.. best of luck
I think nowadays altcoin mining become faded. Since mining is not a good solution for scaling up the altcoin. The altcoin is going to change from POW to POs. And there are more and more ICO with fixed amount of tokens. So the future of mining is not so optimistic...
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