COIN MINING LOSES MONEY

I have noticed several threads on various mining forum about the earnings of various cards including the RTX 2080 which is the incumbent gaming card in the studio. As more and more analysis comes out it appears that some. Bitcoin itself has risen but the broader market is in shambles.

You might only make $1.10-1.20 with a 2080 per day but it depends on your power cost.

Power costs here are about 9 cents per kWh in Canada. This is the basis I used to calculate the earnings potential of various video cards. What I found was eye opening. Maybe 3 years ago somebody could make some money but now the sector is so hard to mine that even specialized hardware is hard pressed.

Some miners mentioned that solar power helped with the power cost. The capital cost of solar however is itself a capital cost asset. Right now not much in the way of video cards is for sale on eBay at rational prices. It has been that way with coin prices as high as they are.

Using an earnings calculator the RX 580 now loses money so I expect that dual Polaris cards may be available at rock bottom prices before long. Vega 56 also is losing money. Even the RX 5700 XT is starving for earnings. Clearly the irrational exuberance is present with digital coins. Eventually the bubble will unwind and then the gaming community can run dual video cards again at more affordable prices.

The real problem is the vast numbers of secondary coins that struggle with negligible market caps. No real surprise that some are outright fraudulent. Diminishing returns are intrinsic to Bitcoin and most of the derivatives

With thousands of digital coins competing for attention its obvious there is a bubble of epic proportions..