Cryptocurrency Mining Machines

[Pokerface]

Has anyone experienced and/or tried cryptocurrency mining machines? I have heard a number of things however the best machines are expensive then there is the electricity and internet costs. Perhaps these costs are why so much is done in China.

[sweetbet]

I'd also love to hear from anyone who has used them, or can recommend one. It might be a worthwhile investment.

[WagerX]

I'll raise my hand on this one. Yes, I had an ASIC miner from Butterfly Labs when they first came out. I made my money back the very first month. It made a little more after that, but the difficulty level kept rising. Within 4 months the cost of electricity was more than the benefit of mining bitcoins.
I stopped mining after that. Most of larger manufacturers starting selling mining contracts. I didn't see the point of that.

Anyone else here have a positive ROI from a mining contract?

[petimi]

I don't personally own one but have been doing research about this too lately.

As far as I see your margin all comes down to how cheap you can get to electricity.
I saw a good analysis on how a renewable (solar-powered) energy setup would make crypto mining more worthwhile and increase the speed of return on initial investment costs.
The calculations were done for a quite large scale operation, it's an interesting read https://www.greentechmedia.com/artic...business-model

[Progger]

As far as I see your margin all comes down to how cheap you can get to electricity.

Yes,and the another point is hardware..4x 800€ for the gpu´s...

But the mining have a negative effect, viruses jumping arround (CoinHive Miner Trojan) and the prices for hardware are crazy.

[dfiocch]

Has anyone experienced and/or tried cryptocurrency mining machines? I have heard a number of things however the best machines are expensive then there is the electricity and internet costs. Perhaps these costs are why so much is done in China.

I have two mining rigs (multi GPU, 12 total) actually mining Ethereum.
Next week I will sell all. No more profitable, I would need more efficient GPUs (difficulty is increasing exponentially plus my solar panels are at limit) and I don't want to buy new hardware.
And I have to sell all my ETH... never sold one :P

[Book of Ra pPortal]

cryptocurrencies are the future. It's amazing to see how everyone seems interested now

[PROFRBcom]

As one poster above said, it all comes down to economics, most of which comes from the amount and price of energy you'd need to run your operation. I know a guy who mined bitcoin for quite a while using his solar array. He made good money for a while but it turned into a full time job. Unknown malicious actors kept probing his networks trying to gain access and, presumably, to loot his cryptos. It became such a hassle and liability that he shut everything down rather than deal with it and become a full time mining engineer.

Perhaps he regrets it now with the stratospheric rise in prices. Then again, perhaps not. I don't think he enjoyed the constant battle/lifestyle being a full-time miner entailed.

[BestBonusBets]

cryptocurrencies are the future. It's amazing to see how everyone seems interested now

haha this was my EXACT thoughts as well. Seeing it more and more now. Feels like its becoming mainstream