I got into mining too late and have only bought two intro level cloud contracts and ran a 2 cpu monero miner for 2 weeks, but after extensive review of others systems and my available funds this is the most I could do for now.
I posted a comment and reply on a youtube video hyping mining and was hoping anyone with actual experience could point out some real numbers
Published on Jun 11, 2017
Would you like to earn how to make $200 a day mining Ethereum or ETC with a small initial investment? With the ETH price over $300 today, the opportunity to mine Ether is now extremely profitable! With proof of stake coming for Etherum in November 2017, any mining rig built for Ethereum could still be switched to Ethereum Classic to continue working with the Proof of Work model! In this video see an introduction to what research and purchases are necessary to begin. While I thought mining any cryptocurrency was too technical for me, I now see getting started on a small scale is relatively straightforward with scaling up possible with confirmation the initial system is working.
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COMMENTS • 103
Jonathan Tabaco2 hours ago
just to get an idea of cost, a popular cloud mining company offer 500mh/s for 2yrs at 14,000usd if you divide 24 it's $583 a month and at current difficulty/price for eth that will provide 3,432 a month which is 2849 a mo in profit but better to look at it will take 4months to recoup investment and then hope your profits contine
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Kevin Do bs
Kevin Do bs15 minutes ago
Jonathan Tabaco cloud mining is NEVER AS PROFITABLE AS doing it yourself
Reply 1
Jonathan Tabaco
Jonathan Tabaco3 minutes ago
Kevin Do bs I just wanted to point out a baseline to show cost. I did a quick lookup for a 6xgpu system that ran 192mh/s ate around 850w cost $3000. it would generate about $1200/month after power at 0.12 kw/hr
it would take 2.5 months to recoup hardware investment
link to sample miner build guide: http://www.coinminingrigs.com/how-to-build-a-6-gpu-mining-rig/
link to miner profit calculator: https://www.cryptocompare.com/mining/calculator/eth?HashingPower=192&HashingUnit=MH%2Fs&PowerConsumption=850&CostPerkWh=.12
link to actual video:
video creators steemit: @jerrybanfield/