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I found this site that says how much I could make mining with my GPU, but is it really reliable? Prices keep changing, so how can they be accurate? I'm also curious about which cards are best for mining.
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Mining Bitcoin with a GPU? That’s a tough sell if you're looking for real profit. Seriously, ASICs are the way to go now. GPU mining is pretty much dead.
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Not sure about ASIC prices around here, but I think there's a big import fee too. Last time I looked, an Antminer S21 was around 13k after everything.
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Maybe OP already has some GPUs? If so, Nicehash is an option to mine altcoins and get paid in BTC. I heard that still works.
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Yeah, I checked Nicehash for my GPUs. Not worth it, really. Nvidia even nerfed their cards for mining a while back. Seems like GPU mining days are over.
P Posts: 1287 · Reputation: 2049
@OP check the sticky post here. Even old USB stick miners have decent hash rates while using way less power than current GPUs. It’s wild.
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I saw a USB miner on Amazon for $300, claiming 1.2TH/s. But how would that even work with a laptop? Too much power draw, right?
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If you're set on GPUs, you’ll mostly mine altcoins now. After Ethereum switched to PoS, GPU mining has taken a hit. Profit margins are slim unless your energy costs are dirt cheap.
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I get that. I'm thinking Bitcoin will hit 300k in a decade. My power is cheap, I have solar, but still need to invest in the short term.
P Posts: 1287 · Reputation: 2049
With all the costs involved, wouldn’t it be easier just to buy Bitcoin directly? If it's going to hit 300k+, buying and holding seems smarter.
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I plan to set up services too, like lending and managing campaigns. Holding is solid, but mining can help offset hardware costs over time.
Wa Posts: 166 · Reputation: 1361
Cool, but remember, if hardware fails, that’s another expense. Keeping it slow and steady might be better.
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That USB miner is probably overpriced because it's a collector's item now. The one you found isn’t even from Bitmain; it's a BitAxe.
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I wonder why Nvidia doesn’t make their own mining rigs? They could do so much with that hardware.
A Posts: 549 · Reputation: 40
When you factor in hardware, power, and possible breakdowns, it really does sound like just buying Bitcoin is the way to go.
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True, if done right, you could make back your hardware costs in a year. But GPU mining? Nah, that’s not happening.
A Posts: 549 · Reputation: 40
Thanks for the link, but it’s not in English. I’ll need to translate it. I’m leaning towards ASICs for mining.
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If you need help translating, just use Google Translate. A lot of the Russian community has valuable resources.
A Posts: 549 · Reputation: 40
I’m going with unMinable for mining. Their app seems straightforward, no KYC, and clear fees.
Ca Posts: 264 · Reputation: 176
Yeah, those apps usually have low fees since they pay in altcoins. What hardware are you planning to use with it?