So mining has made my current graphics card worth aprox. 3 to 4 times what I paid for it. I decided to see why and got into mining the other day and set up NiceHash. With my CPU and GPU both mining I'm making about ~15 cents a day. By January I'll have about 27 bucks if I ran my gaming rig all day and night. I thought Ethereum mining was supposed to be good for this kind of set up. How does anyone profit from this at all? Even if the card was regular priced you wouldn't make your money back on the card until ~2 years had passed. Am I missing something?
>>61700371
they are hoping for the coins they mine to increase in value
when bitcoins first started to get shilled on /g/ they were a couple cents each and not even worth the electricity
>>61700430
Ah, this makes a lot of sense. Thanks anon. If this is the case should I abandon nicehash and focus on something that doesn't pay out in bitcoin and instead pays out in ether or is NH really the best way to go about it?
>>61700491
cryptocurrency is a hot mess right now
most of the people you see shilling it on /biz/ don't actually mine, far less normies.
the state of the market is far gone from how it was in the early days when everyone would mine a little with their excess processing power.
most "investors" treat it like a virtual commodity or stocks, buying, selling and holding it
any mining of worth is now done by specialized setups and large operations. Gone are the individual home miners. nobody even mines on their PCs anymore. GPU and CPU mining has long been replaced by ASIC miners (usually large chinese run operations)
>>61700430
why not just buy the coins cheap then, hold on to them and sell high?
Then use the money and time you save to learn an actually useful skill
>>61700371
>Am I missing something?
yeah, you're late.
I've thought about buying some ether and wait like 5 years. Good idea, senpais?
>>61701150
just as good an idea as buying bonds or stocks or real estate or even pokemon cards