Mining in crypto, your experiences

Hey guys, I'm curious about how much people are actually making from mining. What kind of earnings are we talking about here? Also, has anyone tried working as a p2p exchanger? I'm just getting started in the crypto world and I'm looking to build up some solid capital. If anyone's up for a chat or has tips, hit me up!

If you want to start mining, I recommend GPU mining. It's cheaper to get started and electricity cost doesn't matter. There's an Altcoin board on this forum.

What one person is earning in profits may totally be different from what the other person earns because of several factors such as the mining pool, mining hardware, asset one is mining, the network hashrate etc I have only used a number of them before. Some non KYC p2p exchanges are good if you hate KYC, but a few have good volumes and liquidity.

It is hard to tell how much a miner will earn without doing the proper calculation but what determine the earning of a miner is the capacity of her mining equipment with the electricity cost. If you have already get your mining rig, you can do the calculation of your profit here or on here. There are a lot of p2p exchangers and you will find them here but you need to understand how p2p trading is executed on this forum.

My wife bought a 1080 for streaming Once she was forced to leave for a long time i decided to earn some money secretly rofl

Now all the mining communities are waiting for the start date of ethereum 2.0, so I do not advise you to start mining on the GPU. Do you have the ability to mine with ASICs?

PoS is going to be released in Q4 or later. That is plenty of time to make profit with a mining rig even if it declines in value. Keep in mind that PoS seemed imminent back in 2017 as the Difficulty Bomb exploded and blocks were getting frozen. That was a worse situation than right now.

How much money will you get for 5 months of maning? You may be able to get 30% of the cost of the video card back if the price of ethereum doesn't drop too much, but I don't see any profit here. Do you have information about the 4th quarter?

If one buys a Radeon RX 6800 card this week when they are at a discount somewhere, the price will be $700/card including the system components. The profit after 9¢/kWh will be $1.80/day after accounting for a 2-3%/month diff growth and assuming a crab market for ETH. If PoS happens on November 1st, one makes $320 of profit after pool/software fees. There is no way the price of the equipment can drop below $380/card even after PoS, as that would be 40% below MSRP. The lowest video card prices ever went was 50% of MSRP, which was back in 2018. But these days, there is much more gaming demand than before, as well as long-term miners who will bet on GPU mining. So it's very likely one makes a net profit. Of course, if ETH price goes to $5000 again and PoS gets delayed further, it's possible to pay off the equipment before PoS.

~Q3/Q4 2022 source https://ethereum.org/en/upgrades/merge/ you were right, I recently discovered this information in a newsletter. In Russia, the price o fRadeon RX 6800 starts from 1300 dollars

You can easily obtain the amount of money you can make by mining Bitcoin in any online calculator, like this one for example: https://minerstat.com/coin/BTC You simply need to put there the details, and it will tell you how much you make. Hashrate and power consumption are defined by the device itself, the miner. You can get these numbers from the manufacturer. They will vary a lot, from quiet home miners to extremely loud and hot industrial ones. Pool fee will of course depend on the pool you use. Some are free, others charge you 2%, etc. It should be stated in their website. Then finally you just have to select your currency and your electricity cost, which should appear in your bill or electricity provider website. After you input those numbers you'll know how much you can earn from this.

I used to mine ZEC when it cost money, but my options quickly dried up, so I stopped it and started using exchanges to buy coins.

If you are interested in mining, I would recommend starting with GPU as entry price is lower and just in case you discover this isn't what you want to do, you won't break the "bank".  Also, the GPUs tend to hold value much longer than ASICs as they are flexible and able to mine more than just 1 kind of coin- case and point the 1080Ti from like 2017, which has barely depreciated and in some cases has appreciated vs an ASIC from the same time frame which would be way outdated and highly depreciated.  If you wind up enjoying mining, then perhaps step up to ASIC as long as you have or can obtain the infrastructure to support the power requirements.

I tried to mining so much once upon a time, but didn't earn so much. I get a little only. By the way, I use p2p exchange which is very easy to use. If you see a youTube video, you can use it confidently from anywhere.

I am also one of the newbie in crypto world. I started Bitcoin cloud mining through BitFuFu platform [https://www.bitfufu.com/list]. Cloud mining is suitable for those who do not owns any mining equipment & the technology required to keep the machine cool, who are busy, not tech-savvy,  also, who are based in a country where the electricity costs are high, all it takes is just by renting computing power from third-party sources. Ideally, Cloud Mining is the best way to kick start your crypto mining journey!

I don't know that specific platform, but 99.999% of cloud mining platforms are 100% scam. Keep in mind that any website can show numbers and images without owning any equipment; the harsh reality comes when you attempt to withdraw to your own wallet. Maybe I'm a bit late for OP, but I'll answer that too: For bitcoin mining you need specialized equipment, dirt cheap electricity and some clean place where noise is not a problem. For altcoin mining a good GPU (possibly CPU too) will do, again if you have dirt cheap electricity. However, mining requires some technical knowledge, since if you don't know what you're doing you can end up not earning or even burning down your place. If you're new you can get scammed. Also you may need money handling license or get very good on hiding your back. Bitcoin is money. If you want to accumulate good capital, find the thing you are good at, do that, earn money - in any form - and if you want to invest some of that into Bitcoin or altcoins, you can do that too.

Did they prove any ownership on those? I do see they have very professional advertisement writes. I couldn't have been writing more legit-looking nonsense myself. Now the real question: did any real (and preferably trusted) person managed to actually withdraw from there? Because that's the only real test, all the rest is sophisticated blah-blah. Again, for sure: I don't say it's not legit. All I say the chances it's legit are slim and there's no real proof yet in any direction. I wouldn't risk my money on it, but some others do have a strange appetite for this kind of risks.

I agreed with you. If the OP is interested in mining, he should go for GPU which means Graphics Processing Units. It is the best graphics card for mining in the year 2022. It made things easy for the Miners, mostly the beginners. Although they different mining hardwares one can use to mine, such as, NVIDIA GeForce RTX 2070, though this is mainly neant for gaming but Miners can also use it. Though it's a graphic card in GPUs. From the pictorial image shown above, you can see that the graphics are very much nice to mine. So again and again, I suggest you to use GPUs. It is cheaper and easy to use.