Is Cryptocurrency Mining Profitable In 2019?


Is Cryptocurrency Mining Profitable In 2019?

Is Cryptocurrency Mining Profitable In 2019? GPU vs ASIC Mining + Best Coins to Mine + Best Miners

This is the raw Google transcription of the video: Watch The Video Above For All The Details

I’m gonna be breaking this all down from the lens of an at-home miner,  can you turn a profit on cryptocurrency mining as an at-home miner in 2019 the answer is yes. I’m not gonna make you guys wait for the whole video to find out if it is profitable or if it’s not but what I am going to talk about is what is the most profitable coins to mine and break down, you know what’s earning people the most money consistently.

What kind of coins have the volume to support a decent amount of miners and also a special donor wants to donate a little bit of Bitcoin so drop your Bitcoin address in the comments below on this YouTube video and include your favorite color.

Alright guys it’s going to jump into it for this video I’m gonna focus on the two main types of mining and that’s going to be GPU graphics card mining, as well as ASIC mining which is application-specific integrated circuit. So that’s gonna be a purpose-built machine that all I can do is mine and it’s almost always just one mining algorithm, which would equate to essentially mining one coin for example Bitcoin.

Basically, everyone is running this equation to solve the block and the person who solves the block is rewarded with a Bitcoin and that is the distribution model of Bitcoin. In turn, by essentially renting out your hardware you are supporting and running the Bitcoin network and that is really why they pay you this Bitcoin to decentralize it.

GPU vs ASIC Mining

For the first part I’m going to talk about my preferred type of money which I elaborate a little bit here on the end also at the end of the video I’ll bring this video around.

I’ll talk about the other types of money that are less popular less than 1% of miners do and that would be HR drive mining FPGA mining and CPU money and a couple other options you can do but let’s go ahead and start looking at the mining profitability of graphics cars in 2019 with in graphics cards there’s just two main suppliers it’s gonna be AMD and NVIDIA so for the AMD side the most popular

cards are gonna be rs5 70s and rx5 80s which are essentially the same as for 70s and for 80s that was a very basic Polaris architecture refresh and if you use the standard configuration of a basic mining rig which would be six graphics cards this is what it looks like with an 11 cents per kilowatt-hour which I would say is roughly the average electric right here in the US so our first number

here on this money profit calculator is going to be you know how much we earn and you dollars per day mining this coin so we wouldn’t mind 2 dollars and 43 cents of aetherium in 24 hours but after we pay our electric bill we know again this is all calculated we’d be bringing home 29 cents so you know you could even buy something off the dollar menu it McDonald give me a liter

of Cola what liter of Cola liter of Cola do we make liter of Cola just order a large forever I don’t want a large Farva and I want to elaborate on that real quick there’s no disputing it mining is not as profitable as it used to be and money at home as far as a business point of view is not lucrative like it used to be however it’s still really fun it’s

still really interesting and I think that money has an awesome spot is more of a hobby part time you know basically your goal should be more along the lines of breaking even endeavor in 2019 as opposed to getting rich quick like a lot of people thought it was in the beginning of 2018 so really this video is not going to harp on the prices so much but show you what’s realistically possible as

far as building a mining rig right now if you are looking for a little bit of a quick advice on that your best bet is going to be to buy used parts off of ebay and again you run that risk of buying used parts but if you stick with the major brands they most of them you need to check I actually have a video talking about this stuff but most of the

major brands have warranties that will go with them from user to user so if I bought an EVGA card and I sold it to you you still have my original warranty so if something happens to the card like you know the previous owner really ran it into the ground ran it in a really hot environment or whatever then you’re still gonna be covered you’re still going to be good and you’re probably gonna pay

half price for that card as opposed to buying it off someplace like new it and whatever let’s jump back into the video and talk about the real-world profitability one of the numbers really look like for GPU and ASIC money and a couple others here at the end so we take this rig again the standard configuration rig and AMD’s been getting hit pretty hard the main key facts to take away are that ethereum may

be forked into Prague pal which would equalize GPUs and Asics and there should be any Asics too soon for Prague cow mining our algorithm for Asics so that would be a little bump up in profitability however they’re also reducing their block rewards so that would decrease the earnings however the ice age which basically is artificial difficulty inflation with the theorem is decreasing the block rewards every day that goes by so basically when it

comes to that’s with with AMD cards only place they have to go is up Mon arrow which is one of the most popular cryptocurrency coins especially as far as GPU mining isn’t his concern and really just an OG crypto that has stayed true to a stick resistance they forked our algorithm numerous times and dealt with a ton of ASIC miners on that algorithm they are dealing with an onslaught of Asics again right

now and they are working on a fork within the next couple weeks so we should see a new mining algorithm new miners and a very big increase in profitability when it comes to Mon arrow mining coming soon definitely within a quarter – of 2019 depending on when you’re watching this video as far as Nvidia I’m gonna be taking a standard 6 X 1070 TI mining rig to run these numbers and that’s again with

lemon cents per kilowatt hour electric rate as we look here the most profitable going right now is actually a Z coin which I have really covered too much for the channel but you know they have a good reputation they have a good volume again they’re doing 45 Bitcoin a day in volume nearly the same as grin on an equivalent exchange again these are just profit calculators I’m gonna dive into some of my

personal numbers my rigs here in a second but a calculators are always gets you in the ballpark as far as that you know we go down the list it quickly drops off from a couple bucks per day for these rigs down to you know barely a dollar with you know a popular coin like Raven coin and then we also have zel cash down here which recently covered here on the channel you

Best Coins to Mine

actually have some pretty cool news as far as grin mining is concerned which I will get to here in a second but before I do that I wanna let you guys know that Z classic is back yeah again we’ve covered Zee classic here on the channel they’ve been a total to be blunt you know if you’re under 13 or something cover years the show it’s been a wild ride between Zee classic and the

coins that have forked off of them like Zen cash as well as Bitcoin private and all kinds of other stuff but they’re forking back to be GPU minor bull here in about six days from the day this video is gonna go live I’m not too interested in it but what I do always support is more GPU mountable coins it’s gonna add a little bit more money in the pot and let’s don’t

understand how this coin really carries any value but that’s just my two cents on it it’s not professional investment advice I’m just a Doge dad not your dad if we bump over here to coin to mine which is another and a little bit newer profit calculator I put a 6/10 780 eyes in there didn’t mess with the electric rate and you can see down here it’s pegging beam is the most profitable coin

to mine right now with these cards by about 30 cents and then you know followed by a grin and then followed by Zee coin so like I’ve been covering here on the channel all over the past two months it’s been all about beam and grin and whether you like the project or you don’t like the projects they’re very profitable and you don’t have to hold the coins you mind it if you want

to make the most money mind the most profitable coin and then cash it up me personally again a financial investment advice try to sue me but I selling my grin I’m selling my beam because they have very high inflation rates and I’m gonna use them to increase Bitcoin holdings so that’s just me personally but do you own research and do whatever you want to do on the same side if we bump over

to six rx5 and 80s you’ll see that basically as a disclaimer that this may not be right yet he’s still working on it but AMD like normal is being led by ethereum mining it’s pretty much always been the case besides coins that have peaked in mining value and the more models or go there or if a coin just simply increased more in value over x time which brings me to a quick point

that I want to make for you guys and that’s just gonna be the simple fact there’s a couple of strategies when it comes to money so I’m gonna put a quick pause on the video my probability I want to talk really briefly about strategies and it’s pretty simple you have mind and whole its you’re just gonna mine this coin you’re gonna hold it to you know some determined point where you they want

to sell it maybe it’s like you pick one year from now you pick when it hits ten dollars or whatever you pick you know you want them on a hundred and then it goes up and you dump it I don’t know this but it’s basically the mind and hold strategy and exactly how long you hold it is gonna depend on well you next up is going to be to my most profitable coin

and convert it to either USD dollars or whatever your local fiat is or big coin and this is the strategy that all the big mining farms use all those big farms for the most part they’re mining and they’re they’re converting and they’re either converting to stable coins which will be pegged to her example like a US dollar that are converting to a more stable coin like a Bitcoin that won’t have as much volatility

some of the smaller coins that they may be mining or if they’re very bullish they are mining and holding and they have for example investors and are paying for their electric bill out of pocket and they’re trying to wait out the bull run or they’ll excuse me the bear market but this can really get some farms upside down and that’s where the word capitulation comes into play and just to give you guys

another reference point we take the Luxor modding profit profit calculator on grin and we put in 30 grass per second which is going to be the approximate hash rate of a three or six x10 70t iRig mining grin we’d be pulling four dollars and 43 cents per day or about one grin per day and it’s valued at about like five dollars right now so with all those numbers in mind they pretty much

lined up across the board which again puts a grin at one of the most profitable coins to mine and with the same train of thought here is another profit calculator for mining beam taking the approximate hash rate of 6 X 1070 T eyes with a $0.11 per hour kilowatt hour electric rate and you can see after the electric bill is paid you know we got the rough daily of reward of four dollars

for 42 cents and after your electric bill is paid you’d be pulling in about $2 so as you can see a grin C 29 and beam mining are about neck-and-neck and profitability and they’ve kind of been there for a little while if you’re wondering how beam or grin we have numerous video and written guides which you can get all linked out to right here on the Bossip own youtube channel the last video uploaded

before this one was the ultimate beam coin mining guide or at least you know my point of view maybe because I made it right and then I also made an update ultimate grin coin mining guide where it talked about the lol miner I am the latest G minor which you know had increased hash rates I try to bring you guys always the most relevant and best information here in these videos and the

reviews and the tutorials so again I mean this that’s what I do so uh always appreciate when you guys check it out hit the thumbs up on the video and of course hit the subscribe button on the YouTube channel and that really sums up my thoughts on the current mining profitability when it comes to graphics cards as you can see no matter what really slice it unless you’re doing speculative mining where you’re

mining a new coin they like just came out and you’re hoping it gets a value at all or it goes up in value extremely or your mining ex corn you know you put any coin you want in there whatever you want a fanboy and you hoping that it’s gonna move skyrocket and value and it’ll really pay off other than that if you’re looking at day-to-day profitability beam and grin are winning by very

far also according to our discord which if you’re not in it you’re missing out on great information we have some guys testing the new B minor which allows 8 gigabyte cards like 10 70s and 1070 TI’s to – c 31 algorithm and they’re saying that they’re getting about double the profitability so if you’ve got a rig making almost 10 bucks a day in 2019 with u6 you know you know average or slightly above

average of graphics cards you’re doing an amazing job so as always invite link to the discord in the video description come join the party and taking it take a part in that profitability before I jump into the next section talking about ASIC money profitability I want to talk one about the sponsor this video which I like to thank equi hub pro for doing that and I also happen to be using their pool

for a test I’m working on because they have an implementation of pool mining and solo money I’m using snow gem for this because they have a low network hash rate which you can see right here their network hash rate is about 60,000 Souls and if you pair that to a more popular cryptocurrency with a higher market cap for example Bitcoin gold using the exact same mining algorithm their network hash rate is 2.3 or almost

2.4 million so naturally 60,000 souls is much less than 2.4 million so it makes solo mining a lot more viable but what exactly is solo my solo mining is just what sounds like it’s just your miner hashing away doing its own thing and what exactly do I mean by that well if you find a block and your solo money you get all the rewards simple as that if you are on a mining

pool if you get a block you share those rewards with everyone in that mining pool and the same with someone else in that mining pool if they find a blog you get part of that rewards because you guys are pooling your hash right working as a unit working as a collective and if you think that the odds will ever be in your favor like your girl Katniss Everdeen [Music] then maybe Soleimani could be

more profitable for you and it has really worked out well for a lot of people in certain instances but on the flip side you can also get burned do you have terminal bad luck and solo mining may not be for you however if you’re wondering if solo mining for me is more profitable than pooled mining keep in mind there’s T’s 1070 TI’s on this one in 3 1070 T eyes on that one which

again does not make this perfect paracin it’s more just for fun and to check it out but if you look at the seven-day average it’s almost like it’s very linear solo mining is proving to be slightly more profitable using the 7-day average again you need to increase this by 33% which will put it at about a hundred and fifty snow gym as far as day to day profitability for mining this coin if

you go ahead and multiply these rigs as if they were six ten and seventy TI rigs like we’ve been talking about this whole video their daily profitability would be two dollars and seventy cents and if you take the last 24 hours of the solar mining which is been a little lucky it would be four dollars and five cents which will be more profitable they’re actually almost in line with a beam and grin which

is pretty cool to see how luck can play a factor there and really bump up your earnings if you want to check out a reputable mining pool that is pretty cool for offering not only a pool solution but also a solo solution for mining check out aqua pro they’ve got numerous goings-on here from Bitcoin gold snow gym Zee classic they’re gonna be supporting that Z classic fork here so you can go in and join

that party if you want when it comes out also zel cash and a couple other coins alright so enough about graphics cards gamers you can have them back now we’re gonna be talking about ASIC money and right here I’m on ASIC minor value so this is a cool site this is a it’s very useful it’s clean it’ll give you some kind of profitability estimate for these miners but keep in mind that they

do make all their money off referral sales so some of these numbers may be a little inflated or they may not take absolutely junk projects off like ASIC minor which we confirm to be a scam they changed payout addresses from people who they gave and sold these miners to back to their wallet their scammy as can be okay so stay away from them I even message these guys and they don’t take this money

off their site so I don’t have a ton of respect for them but anyway here we are because they have the cleanest implementation of a ASIC miner profitability calculator in today in 2019 so we look here it’s pretty much dominated by the obelisk sc1 as far as day-to-day profitability that a 9 plus Z master which is basically just to a 9 z master strapped together which actually has been a pretty profitable miner

for its lifespan in the recent bear market but that one mines that echo hash coins a stay on the original algorithm like Z cash however if you look at this profitability basically from an at-home miner point of view which is sort of the basis of this video Bitcoin mining is not profitable any way you slice it even the most profitable Bitcoin miners here which we sha-256 that’s the Bitcoin mining algorithm you barely you

barely have any money after your electric bill and the miners that are doing this to have the efficiency to be they’re costing thousands of dollars still again in this bear market Ovilus st ones are profitable with us because they forked and then they have a little monopoly going on their own algorithm but honestly I’m not totally hating on it it’s not like there’s really any good hearted ASIC manufacturers out here and quite honestly I think

they’re probably the best of the worst when it comes to a signal mitre manufacturers but that’s just my personal opinion I also like spawn Dooley’s they’ve been really cool to deal with and their minor has actually proven to be more profitable than this calculator shows I actually talked about in this video I mind with it directly to nice hash so I was mining – through the nice hash service basically they auto convert it

for you and charge a small fee but it’s really useful if you’re juggling what’s your stuff for taxes if you’re in the u.s. you have less taxable actions less conversions and so forth because if I mind say one – and then I trade it for well you know some Bitcoin and then I sell that Bitcoin for US dollars those are all each time I do basically do something with it like that as

a taxable action so I get taxed when I get it I get taxed you know in the difference of the sale from – to Bitcoin and then I’ve got to deal with the conversion of Bitcoin to US dollars but this isn’t tax advice consult a professional my point is just don’t live and die by the profit calculators other than that guys the profitable miners on the horizon would be the fusion silicon x7

which no one I know has actually seen a person so this could be a total scam time will tell be careful there and obviously the obelisk sc1 miners especially you can get a couple boards in them so this profitability I’m actually having a couple of issues with mine I do have an SD one slim and if you look at the 24-hour revenue I’m not getting the hash sure I’m supposed to doing this just

with one board in it but actually just got another board in to put two boards in a minor to increase the profitability of it you know obviously two boards double hash rate or at least it should be but my 24-hour probability on that is seven dollars and 67 cents and that’s before my electric bill but these things don’t use too much electric so probably like making five bucks a day with it as

far as US dollars are concerned and you compare that to this profit calculator it’s definitely a good bit under it so maybe try to find some people actually have the miners before you go ahead and sync your life savings on something like this however the miner is still good and nice and I like the user interface but yeah ASIC mining is definitely still profitable it’s just gonna depend on what machine you have and

what stage of its life it’s in and how that coin is doing obviously if the coin takes your miner on that coin it’s not going to be making as much if you’re looking at a USD u.s. dollar valuation which i think is still important in the stage of cryptocurrency some other really big news I don’t want to throw into this video is that big main is announcing its next generation of seven nanometer

ASIC chips for sha-256 mining okay Bitcoin mining also Bitcoin cash if you’re one of those guys but the BM one three nine seven chip is a world-leading 7 nanometre semiconductor manufacturing process it’s gonna enable faster cheaper money for crypto currencies and they’re gonna charge you a lot more so don’t think these miners will be cheaper but we’re actually receives rolling out maybe today tomorrow or very very soon I’m really interested to see now you know

what what they’re unveiling I don’t think it’s gonna be groundbreaking too much but again new tech moving forward always good always good to see advances there if we go there store right now you can see they just have their mater as 15 the s11 and I mean how many how many versions of the s9 are they still out there other miners they’ve got the dr 5 and their power supply and they

actually took all the other miners off their site right now if we go to ebay you can see the my Durell 3 plus which is one of our first ASIC reviews we did here on the channel a hit selling for a ol whopping 150 dollars so times have changed so yeah guys as far as ASIC modding probability is concerned from an ED huh minor point of view I would say really only the

obelisk IC ones I have that kind of good profitability and power uses where it makes sense depending on your setup if you’ve got a little bit of an exhaust setup you got 240 volt then something like the spondoolie z SPX 36 or the fusion silicon x7 if it even exists could be a good solution if you want to stick with a stick miners I really doubt bit man’s gonna unveil anything that’s not ridiculously

priced right now it’s just kind of the way they roll but again you know who knows time will tell again stick with the channel as I cover this stuff as everything comes out because cryptocurrencies always wrap the rapidly changing and within cryptocurrency cryptocurrency mining is always rapidly changing so I do my best I can to stay on top of this stuff as quickly as possible as far as other types of mining you’ve got FPGA money

which we actually have an FPGA mine on the way I know said that before but I’ve actually run into issues two times before with the acorns and also the BCU 1525 so we have a pretty interesting FPGA actually I really have a couple that should be here for testing soon so stay tuned for that as far as harddrive mining is concerned I think hard drive mining it’s really cool it’s as simple as

it sounds basically you are using the extra hard drive space on your hard drive and you’re gonna use in minor conjunction with that and then move an Associated blockchain along I think it’s really cool definitely not profitable right now and if you’re really cool to see some more projects adopt it that’s just I personally feel CPU mining is also really interesting too but no one so far is able to make a CPU algorithm that

is either not eventually dominated by GPUs and then we’ll eventually be dominated with ASIC miners or not dominated by FPGA miners which I didn’t explain is FPGAs field programmable gate array basically think of a very powerful highly customizable graphics card not exactly but that would be like a very simple way to think about it when it comes to FPGA mining you need bit streams so basically some people who are highly skilled will write this

bit stream and then it can be loaded in conjunction with your FPGA miner and it will mine a specific mining algorithm very very effectively but as far as this video is concerned to go ahead and wrap it up for you guys if I go on and on I hope you guys like when I do get in-depth and elaborate on things one of the complaints I dealt with over the last couple months is

that I started making my content too brief and I guess I didn’t ramble enough I don’t know who I’m rambling too much lately and if I am let me know in the comments below but as far as mining probability is concerned it’s definitely still profitable if you look at it from an at-home point of view well then it kind of makes sense I mean you can you can break even you can

make some money if you chase the hot new stuff like if you’ve been on top of it a kayfun channel and you’ve been mining beam and grin and you been doing well 29 teams been a really exciting year for money it’s really kind of rejuvenated especially GPU mining ASIC mining has slowed down the releases of slow down big time due to the bear market because ASIC miners are really by and large developed to

just suck money out of that ecosystem the biggest ASIC farms and I can confirm this if you want me to they pass away they get those coins and they sell them and they dump them for dollars okay you can get upset if you’re an ASIC minor fanboy or whatever but that’s the hope that’s cold our truth you know I’m not hating on that that’s a business it’s a business model if that’s what

they want to choose to do then so be it but just you got to accept the reality face the facts here and that would actually pretty much be a fact ladies and gentlemen the other fact is you should like the channel subscribe to it hit the subscribe but the thumbs I’ll leave a comment let me know what you think and then above all I want to thank you for taking your time

to watch my videos I put a lot of work and time and effort really put everything I have into these and it means a lot when you guys you know I’ll watch it cuz I wouldn’t really make videos if no one was watching it wouldn’t really be fun to be kind of boring and definitely won’t be able to pay my mortgage so see you guys next time [Music] [Music] [Music]

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