I mined exactly 1 year. Here's what I made.

[@chrismay2298]

Yeah Man, there's a LOT more labor involved than most want to admit. Went ahead and shut down the XMR farm and checked out. Thanks for the honest take and best wishes for the next year.

[@JamesSmith-sw3nk]

It is Red Panda's fault. Everything. 😁

[@HolgerWittig]

Please don't stop!

[@captainhappy]

Just adding something to my previous comment, I can fully agree that the mining yields based on the competition is a functioning mechanism, which adjusts constantly, keeping the network safe (per miners in competition) and same time it also makes sure there is not too many miners because they get outcompeted by other miners. The dynamics of that is quite good, but still, I can also say that PoW-consensus mechanism works only for smaller projects, bigger projects end up having crazy high electricity competition ramping fees also up, and it just doesn't work for digital currency that the costs get pushed up only because of this mechanism. Move to for example PoS is fully understandable thing. I wish they (devs around the crypto) keep improving these consensus mechanisms so that PoW could be there for start but when more people join, it would gradually lessen the PoW part of that mechanism. This is quite important, because I am 100% sure that the endlessly increasing power use (PoW mining) is like bottomless pit for costs, where money is thrown without any or very little good reason. Certainly those networks can made to function with less PoW too just have to figure out the consensus mechanism design better. EDIT: almost forgot the most important thing, that is the POLITICAL thing, if PoW grows endlessly, it will become a huge problem for any country's powergrid, preventing people to have electricity to warm their food, and THAT will be total no no no when politicians realize it and it will result serious banning decisions in the government level

[@martinchao7863]

it is red panda fault ... i expanded my gpu farm ... 1k electricity bill at 11 cents

[@JamesSmith-sw3nk]

I have dirt cheap electricity. I broke even plus around 10% with gpu mining. The bonus part is my "farm" paid for new gpu upgrades. It's nice to play games on a 4090 that was "Free".

[@jrosesftv]

Where do you live that electric is cheap?

[@captainhappy]

It's already years ago, from 2017 or 2018, when I did some calculations about your numbers 10:40 power costs vs. revenue, and I personally myself found a conclusion the power cost should be maximum of 1/3 of the total revenue. If it's a good income then it should be 1/4, or 1/5 or even less. Your power cost is 8800 from 18000, and if it were according that 1/3, then the power cost should have been 6000 or less. It makes totally sense that the mining starts feeling like not worth the effort, you must be some industrial size operator having just some 2,5-3 cents power costs and all other costs minimized too, to stay competitive in this market.

[@ModernMiningHub]

Watched the whole thing all good points. Good luck in 2025 man.

[@metalor5605]

i stopped GPU mining on 31/12/2022, my rates were about 0,20 kWh at the time and taxes was going to kick in on mining past that date. Opted to calculate how much i would spent on electricity if i continued mining and bought the coins instead but this time not into "speculative ones". Pretty much the best decision i have made since GPU mining into speculative coins requires very low power rates and tax free to make some cash.

[@That1Techyking]

You forgot a comma?? 😢

[@sethhinkle8930]

Thanks for the video bought 4 x5 this last year they have been doing well for me

[@hutlazzz]

your favorite coin XMR ? you were so silent about it all along ! Literally the best and most usefull coin out of all crypto ! Love you thanks for being transparent.

[@jeanleloup4342]

Hi, i fell on your youtube channel couple days ago when searching for reasons to buy Aleo. I have a small background gpu mining in 2021-22 until my staking got shot with Celsius when it bankrupt. Then stopped and got discouraged+bearmarket (wasnt giving 2-4$dollars/day anyway so..) i dont mine no more because i have a single 2060 super and prefere to invest but you feedback and reality check is gold man. If i want some pure positive shit ill be watching cat videos but we are human and go through stuff and all learn from it. Stay true, stay yourself and the real ones will stay 🤙🏽

[@banditmining564]

its a way smaller project but conceal/ccx is in the wake of monero, and you can mine it with gpus/cpus. Pretty dedicated team.

[@CryptoKattFarms]

I’m on the fence, I can’t decide if I want to sell all of the GPUs CPUs and just keep a few asics running in the background, or dig in deeper because occasionally when I get free time it’s still fun but 100% it’s a hassle to keep up with everyone project and their drama.

[@rwwilson75]

The fact your not a crypto believer puts good perspective into the space.

[@TechnicalsMatt]

What really is there to believe in? I truly believe that on the LONG list of reasons i'll never get big in this space is that I can't force myself to just tell the audience what they want to hear about "to the moon/fk fiat/dollar will collapse etc etc etc"

[@rwwilson75]

@@TechnicalsMatt I got in Bitcoin in 2015 and was sold on the idea that it was the gold standard written in code. With 1000+ cryptos, decentralization seems harder than ever and maybe a utopian dream for something as complex as a monetary system. I did not even hear the word fiat until I was 35 which speaks volumes to our education system. You would think teaching the bases of our monetary system would at least be top priority to give a fair playing field. It seems the system preys on people not knowing and being consumers. Hold what you like hope for the best. Diversification is probably the best strategy as no one knows the future.

[@BLEACH500]

Im in it for around $16,000 in mining equipment and $13,000 in solar and the solar ive had for over a year and its still not up due to fighting with neighbors over my fence and permits

[@irescuedata]

i want to have 4x 4090 and 5950x rigs for vast by end of year. That's my power and heat capacity. The rigs will mine non--junk gpu/cpu coins while they wait for ai jobs.

[@TechManTY.]

Not financial advice, but thanks for mentioning frencoin 🐸 hodl!!!

[@ericvalentine1497]

Thats exactly what i made with 40 gpus and 6 cpus - Flux and Zephyr... i have free power though.

[@shaymining]

It's always Panda's fault

[@kurtm5004]

Cool, cool cool.. Cool. Where can I find some of your AI Centaur work? Not that I am a football fan or anything, but like a centaur vs Lopunny/Gothitelle.

[@TechnicalsMatt]

My other channel LOL

[@jrosesftv]

Panda sold his KAS

[@dakotaminer1493]

Agree to disagree! Keep mining!

[@Gorgula]

Sorry to hear about the AIDS.

[@TechnicalsMatt]

LOL shoulda prepped up

[@radoskrib7155]

Meh, thanks god I switched from mining to AI more than two years ago. For me it was approximately 63k eur in 2024 from AI.

[@surgedtwice]

Hobby mining or small business mining is completely dead.

[@TechnicalsMatt]

Do people still say it isn't?

[@mikemetcalf1498]

But, did you have fun? 😊

[@TechnicalsMatt]

You see my face in the thumbnail right You tell me

[@NK98_]

Good profit! Btw hair transplant is quite cheap in turkey 😉 just joking haha

[@TechnicalsMatt]

WOW

[@BlackRoseCrypto]

I hate Qubic

[@RedFoxCrypto]

First

[@TechnicalsMatt]

You may as well add "and only" FML but also TY *cries*