Can You Make Money Mining Cryptocurrency At Home? Residential Electric Rates Kill Profits?

Can you still make money mining cryptocurrency at your own home?
Buy your own Mining Rig parts on Amazon – http://geni.us/CujsiX
One of the top questions I receive is if it is still profitable to mine cryptocurrency and if crypto mining is still one of my main sources of income. Unfortunately cryptocurrency mining has gained the interest of a lot of big players with a lot of money. . and with that that entire cryptocurrency mining ecosystem continues to change.

Today I breakdown my electric bill and compare it to what I was paying to mine crypto last year. Your electric rate will have a massive impact on whether or not cryptocurrency mining will be profitable for you. No matter if you are mining Bitcoin, Ethereum, Litecoin, or perhaps Aion / Loki / Ethereum Classic like me — the biggest factor when determining if and what you should mine in a bear market will be influenced by your electric rate. My electric rate last year was effectively 10 cents per kWh (kilowatt hour) and with the hike / introduction of a higher summer electric rate for me, my electric rate increased to almost 14 cents per kWh.

Lets breakdown my crypto mining profitability, and how the increase in my electric rate impacted my overall earnings / profitability / ROI much more than many expected.

Links discussed in todays Crypto Mining Video

Loki Network Crypto Coin to USD – http://bit.ly/2CAO1Vu
What To Mine Profit Calc. 5x RX 570 Rig – http://bit.ly/2pMnrAk
Aion Network Coin Mining Profit Calc – http://bit.ly/2E7VPzu
Aion Network Crypto to USD CoinGecko – http://bit.ly/2A9oFxC
12x Rx 570 Mining Rig Profitability – http://bit.ly/2y6Vzva
8x Nvidia 1070 TI Mining Rig Profits – http://bit.ly/2yahbHb

Mining Rig Parts IN STOCK on Amazon – http://geni.us/WQd7cCs

VoskCoin Patreon – https://www.patreon.com/VoskCoin
VoskCoin Facebook – https://www.facebook.com/VoskCoin/
VoskCoin Reddit – https://www.reddit.com/r/voskcoin/
VoskCoin Discord Server Invite – https://discord.gg/FGGmS2z
VoskCoin Twitter – https://twitter.com/VoskCoin
VoskCoin Instagram – https://www.instagram.com/voskcoin/

VoskCoin Official Donation Addresses, support appreciated!
BTC – 12PsgKuhcJrEqJbD3oMN7rcEcuyqyqRznL
ETH – 0xDEe6A2ae293F8C58Ef71649658344BbF382b6e70
ZEC – t1ZoVF5t75NahSAfuwpcyHA8uzkPyocXpJZ
ZEN – znb1iNFP6VctF2AhXLXtMsSjP7emvYDmeXR
Loki – LScbLXmws9RA4SXVz5GhGm3N2YfKShw6MQGeyAjYc3bE5nYHUw3UUWxgKGN8kCnWQkfZEGN1PBxX7Zky3aVJSpGxTZTuDLB
XMR – 484HoyS4h2fenvLKQkuUV7FwnJaGK8LMX43tiJ3UZdVU53d2MxFiQ1jbSfyorsXZVs1SvoPVh4nipjd7b4GVgFGmCgygdpV
Doge – DHgX7vJjBsmYcB1GgubGtu3TVJkqQgCG6B

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to http://Amazon.com and affiliated sites.

Track: Unknown Brain & Spce CadeX – Holding You (feat. Max Landry) [NCS Release]
Music provided by NoCopyrightSounds.
Watch: https://youtu.be/Nn2aXfUkJsc
Free Download / Stream: http://ncs.io/HoldingYouYO

#Cryptocurrency #Mining #VoskCoin

Comments

CRYPTO FUTURE says:

AION: 0xa097b6a5fc9348cab28b3299b294c0076645584b72ba2f7da4c0b4ee5f62eb0c **Some input on ASICs. Even with the efficiency of ASICs, electric cost is still a severely limiting factor. Just do the calculations on how much you can (can’t) make mining Bitcoin at today’s prices with the best of ASICs. While I’m still prospectively GPU mining (see comment below), I have also selectively crept into the ASIC game as well. It’s become an “If you can’t beat ’em, then join ’em” reality. Still, as Vosk pointed out to me sometime ago on a live broadcast, you can’t even count on ASIC’s providing the income projected prior to delivery. And much of that is dependent on getting in on the first release of a machine. Given that truth, I have only picked machines that are reasonably priced and provide a QUICK ROI. Example: the Z9 mini (like Mrs. Vosk!) has been a great buy. Yes, the full Z9’s came in and upped the difficulty. Yes, Bitmain was a total dirtbag and tried to prevent people from being able to optimize the frequencies. But by using only 300w to 350w at +15Ksols for Zcash, it paid for itself and is still making a profit between $5 to $6 per day. When that drops too far, I’ll switch to mining more speculative coins (like I do with my GPU’s) until the Z9 mini becomes a total doorstop. Coins such as HUSH or BITCOIN PRIVATE may someday pan out (and I qualify those with the need for more research before I commit). Bottom line? You CAN mine reasonably priced ASIC’s at the non-farm level and make money – provided you time things right.

Zach Thedford says:

Vosk you need to sell all your hardware and use the funds to buy coins. You will be better off in a yr.

AJ Angstrom says:

my winter rate is 7.3 cents.

F Offenton says:

Not certain if you know this but Russia under Putin is offering 5 acres of land in East Siberia to any nationality for FREE all you need do is occupy the land x5 years. The cold weather is ideal for mining AND it is close to hydro electric plant so power is cheap/free. Folks there are using excess heat to warm their homes. Just a thought to look into.

https://www.breitbart.com/national-security/2015/07/28/manifest-destiny-russia-offers-free-land-to-move-population-to-siberia/

https://russiabusinesstoday.com/technology/russia-to-open-huge-crypto-mining-farm-in-siberia/

Emil Johansen says:

35-40 cent

Jon Crandall says:

Texas miners in the deregulated areas can really cash in! I wont hijack your page but I can basically help with free-ish electric there! I mine in Oklahoma at break even, However I don’t pay exchanges the huge rates to own $120 worth of crypto a month.

CRYPTO FUTURE says:

ETC: 0xA96a324027054F71A9692aF55a9D0350202d3050 ** Other profitable strategies. (1) If you mine, you must absolutely stay on top of the tech. Watch for new developments with FPGA’s (the VCU/BCU 1525 is not the only FPGA you can mine with), the improvement of next gen ACORNS, or other hardware/software solutions. If you want to stay with GPU’s – then do it just like when you buy coin, you buy low and prepare for the bull run. I’m doing the same with all the tech I can, in the hope that an end of the year bull run will pan out. Where Bitcoin goes, so do the Altcoin values, (2) Take on a partner or create a small consortium to share the cost/risk and profit. This works with both investing and mining. In order to scale up more rapidly, I’ve taken on one partner and am considering a third, (3) Take advantage of every free coin you can get. There are AIRDROPS, RAIN, and a host of promo opportunities. I just won 10,000 MBC (MicroBitcoin) for doing a simple meme. Getting another 1000 MBC for simply giving a GitHub thumbs up. And the discords are full of social media options to spread the word and earn coin. You can’t go wrong with “free”, and (4) Be an active member of the community. Listen, learn and contribute. Let’s help one another separate the FUD, hype, bots, and scammers from the true opportunities. Special thanks to the Vosks (and Tails) for sharing their journey. I’ve learned much. And thanks for the opportunity to comment and perhaps earn some coin.

Tiny Crypto Blog says:

God bless Chicago having nuclear generation from Joliet. $.085 per KW. The USD returns on my GPUs are low, but I realize that this is a bear market, so I just keep chugging along.

Keep accumulating cryptos.

Scott Christian says:

I use the Z9 mini to use up my excess solar generated. Works out good. BUT on a solar plan they get you when you use THEIR power, 0.24 normal hours and 0.29 during peak hours ( 3 p.m. to 8.p.m.)
I figure i need to use what I make because they only pay me .02 to .04 for any excess. SOME BULLSHIT.

Michael Garibaldi says:

I needed this perspective.

msdmaddog1 says:

i have a 12x RX570 Rig running 24/7 on ETH with Daytime solar power without cost and @night @18cent. and a second Antminer s9i @ 18TH/s with 2.1kW running only on pure solar power, otherwise i will loose money. sure not everyone have the possibility with solar power. iam happy with that solution and speculating on rising prices.

john corey says:

Can you please do a short video on btcz or bitcoinZ! Or contact me about mining it? I’ve been quietly following you since the beginning and miner to miner would like to hear your opinion! Thanks! Keep up the great content!

azazil061 says:

Its a bear market but alot of people feel like it will come to an end in the next few months. Always best to buy at the bottom because gpus and parts are cheaper. I havent been adding anymore miners but plan on expanding extensively soon. Could be a little of a gamble but i personally believe we may drop bavk down to 5k btc but i believe were going to retrace the same pattern over the next yea and a half

Jessie Petry says:

why not go solar?

sina dastani says:

Hello guys, does anyone know how I can find Decred difficulty chart? I’ve googled it but I’ve found nothing. Any help will be appreciated.

Dan McGinnis says:

Nice video, I have my rigs ROI’d already, not buying any new equipment and mining LOKI netting 20 coins a day. I have also gotten into Masternodes/Service nodes. I will try to find projects like Loki and others and use fiat to purchase towards MN. Akroma is my favorite one right now, as they have some good technology and a very active dev team and it is incredibly cheap right now. I enjoy your video, particularly when you just look at a coin and it’s use case. Maybe some new tech will make it possible for the at home miner to be profitable, watching FPGA, but there is no way to make that profitable yet.

LCEtsjj2XWeeMfKS87J5oEMdULvWmcsiJbVn8nknd23tfAT1qYSnQ4p3MrCZKn5TzH1XPZEzAEHnAXKBMrnBXHd727A7nod

Kevin Goodenough says:

your channel is great! so I can summarize this video to “look at whattomine.com.” ETH Classic address: 0xc4E538ddC67bE997451DB5FBE29E10d2ac14668c

Catherine Oluoma says:

I’m thinking of buying 22 asic miners and running them all on Solar panels and a diesel generator… any advice…cuz I’m thinking of mining zcash, dash and btcg

Pustul says:

Damn I remember when we used to make 15+$ per Ksol/s per day… Took less than 2 months to ROI a 1070

James Pratt says:

Figured out my rig profits today. 3 rigs, 6 1070, 12 570/580. On etc, btg, and eth on nicehash. Making 7 bucks a day after .10 electric. If u do not already have rigs..do not buy or build…if u already have…and electric is good.. mine on.

BitcoinSpock says:

I did the same math in July. I had a similar electricity cost of $0.135 ($860 was my highest bill) so I parted out my 4 rigs (28 gpu’s – mostly 1070 ti’s) and just bought bitcoin. Not as much fun, but I could have never mined as much as I was able to buy at those low prices… I have enjoyed your videos over the last 11 months and wish you good luck!

John Smith says:

I’m at 0.065 per kwh but still get so little because of only 4 1060 and difficulty kills me, why people are still mining for these pennies?

Mister Croc says:

Québec hydroelectricity is extremely cheap compared to most of North America. Like 0.05-0.07-ish usd/kwh. I’ll keep mining for a while I think, I just turn off the older gpus I have during the summer to avoid cooking in my appartment. In the spring, fall and winter it’s all gravy since I’d pay for heating anyways. Cheers my man, at some point prices should climb back up. You got it right, if it’s not profitable to mine just buy some coins, they’re super cheap these days !
etc:
0xa371b16d0312aa9c0f64a34eab693b7bdc0e7ca6

Serge Aleks says:

@Vosk, can you mention in the next video, what electric rate would be acceptable to keep mining. For ASICs and for rigs. What price would be interesting for an average miner to buy collocation. Thanks. I was thinking to offer collocation at a prices 2+ times cheaper then the average price in the USA. Location – Canada :)

VoskCoin says:

VoskCoin Facebook – https://www.facebook.com/VoskCoin/
*Follow us @ the VoskCoin Twitter -* https://twitter.com/VoskCoin
Buy your own Mining Rig parts on Amazon – http://geni.us/CujsiX
*Order your own VoskCoin merch to support the mission!* https://teespring.com/stores/voskcoin

Jan Kis says:

Nice video 0xe313ED8C89662e1b8289a45237A86A24CD1d245b

CRYPTO FUTURE says:

Vosk…. you stirred up an emotional hornet’s nest !!! 😛

mikesjunk00 says:

It still profitable for me so I’m continuing. My rates start at eight cents and go to $.11 per kilowatt. My rigs will be used as a heating source this winter, which makes them even more profitable..Not really worried about profits right now anyway. Just want to accumulate a certain number of each coin that I am mining. Will hold for years. You just have to mine and hold for the best or buy and hold for the best. I remember Microsoft in 1989 and $55, Starbucks IPO at $20, Facebook IPO at $40 and dip down to $16. Oh and Amazon early stages too. This is a new animal so who knows but we’ll see.

Etienne Savard says:

May be time to look again at Masternode coins? 😉 Now that natural selection has cleanup a bunch of shitcoin/scam projects. There is some good community projects (some started by scammers, but community decided to takeover the project): Lunarium (https://lunarium.io/), Northern (https://www.nort.network/), Absolute (https://absolutecoin.io/), Feirm (https://feirm.com/), etc. And, of course, Snowgem that you can mine, and running Masternodes from your XSG.

I Bought Charlie Lee's Bags says:

BIG win for one guy!
He stopped playing AION http://na.aiononline.com/awakened-legacy/ to mine AION instead.
Took the 8 hours a day he played this addictive online game and got a job making money instead.
Life is way better

Lill Bean says:

Solar

Kenneth Jones says:

Crypto ain’t worth enough anymore for mining, unless you free electricity

Mark Knabb says:

Great video thanks brother ! I’m mining safex cash right now. Completely speculative

TurboShane says:

Mining these days is all about finding coins that are new or not on an exchange yet and hope for the best. I know you can 10x your earnings because I have done it recently compared to WTM says with the old stand by coins.
0x9FBc4A72B95e65b75Da1677580E2FAFD49a0f340

Pașca Alexandru says:

I pay 17 (US) cents for each kilowatt and mine and still believe in mining and supporting that particular coin (whichever that may be, now I don’t want to up my diff by commenting on youtube 😀 )
But I break even by keeping my home cozy in the winters! I pay $h!t for gas!

Goku SS Blue says:

Where do you work,how can you pay $1,000 per month,dont tell me you are selling the coins?

Trevor Hazzard says:

Hi Vosk, been mining for a number of years now, finally decided to go solar 6 months ago not just for mining but the whole green thing, PHEV & so on. Today my solar system generated 15.4kWh. In the summer was getting 24kWh in the UK. When the sun is out the rigs are on, as I don’t battery storage. Mining does use a lot of power and I think we need to look to greener solutions.

Alec Johnson says:

Solar Vosk, you need solar… Long term investment that you can scale and use for other purposes.

Quantify Mining says:

You bought at the top and built rigs at the end of a bull market… The market cycle has been consolidating since 19k and is flattening out nicely. Anyone selling now blows my mind, carpe diem ! HODL

Jason Amsden says:

Mine if it’s profitable. Buy when it’s profitable. It’s a business.

Write a comment

*

Human Verification: In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.


Do you like our videos?
Do you want to see more like that?

Please click below to support us on Facebook!

Send this to a friend

▷ Other ReviewsVehicles▷ Show Cars▷ Motorbikes▷ Scooters▷ Bicycles▷ Rims & Tires▷ Luxury BoatsFashion▷ Sunglasses▷ Luxury Watches▷ Luxury Purses▷ Jeans Wear▷ High Heels▷ Kinis Swimwear▷ Perfumes▷ Jewellery▷ Cosmetics▷ Shaving Helpers▷ Fashion HatsFooding▷ Chef Club▷ Fooding Helpers▷ Coktails & LiquorsSports▷ Sport Shoes▷ Fitness & Detox▷ Golf Gear▷ Racquets▷ Hiking & Trek Gear▷ Diving Equipment▷ Ski Gear▷ Snowboards▷ Surf Boards▷ Rollers & SkatesEntertainment▷ DIY Guides▷ Zik Instruments▷ Published Books▷ Music Albums▷ Cine Movies▷ Trading Helpers▷ Make Money▷ Fishing Equipment▷ Paintball Supplies▷ Trading Card Games▷ Telescopes▷ Knives▷ VapesHigh Tech▷ Flat Screens▷ Tech Devices▷ Camera Lenses▷ Audio HiFi▷ Printers▷ USB Devices▷ PC Hardware▷ Network Gear▷ Cloud Servers▷ Software Helpers▷ Programmer Helpers▷ Mobile Apps▷ Hearing AidsHome▷ Home Furniture▷ Home Appliances▷ Tools Workshop▷ Beddings▷ Floor Layings▷ Barbecues▷ Aquarium Gear▷ Safe Boxes▷ Office Supplies▷ Security Locks▷ Cleaning ProductsKids▷ Baby Strollers▷ Child Car Seats▷ Remote ControlledTravel▷ Luggages & Bags▷ Airlines Seats▷ Hotel Rooms▷ Fun Trips▷ Cruise Ships▷ Mexico Tours