Super Cheap GPU Rigs!?!?!? Should You Buy?
Every crypto boom the GPU market goes insane and every time there is a crypto crash the miners get destroyed sometimes way worse than if they would have just bought the coins.
Even though mining is awesome there are a lot of issues with getting involved in it. For starters your computing equipment is a depreciating asset. It will become worth less as time goes on except in extremely rare situations.
Also the Ethereum block reward is being reduced soon so it will squeeze the people mining with GPUs even more. It will likely bring the price even lower because people can only hold on so longer until they throw the towel in and sell their rigs and sell their coins.
I'm so tempted to get into GPU mining, but I just don't know enough..
Unfortunately it ends up being a mistake for 95% of the people who get into GPU mining. You have to have unbelievably cheap power to survive the times like now.
There is a place in Eastern Washington that has $0.025 / Kilowatt Hour power. That is where people need to scale up.
Well I'm in luck since I'm in China 😁
@kofibeatz you should actually look into this bro, I think China pays some of its biggest miners to cover the electricity 😄
Fact they use too...
So your kinda right :P
But not anymore which is why Bitmain is losing some of it power and why is trying to move away from China.
LOL !popcorn
My electric bill for October was only $3.88 😂 I couldn't believe it..
I had no idea @encryptdcouple..
I think you're right. I had been sort of considering it, but there is a large cash expenditure to get the equipment, then you have to get it running, and most places are going to be charging $0.10+ per kW/h. It's not worth it unless you're mining some crazy-low difficulty coin that's just now taking off.