With prices at lows as well as lots of miners on the market at budget prices right now,

I was wondering if its a good time to dip toes into mining.

Any idea where I could start or how to start?

Im not looking to buy something for 4-5k right now with zero experience.

Something in the 500-1k range some mini miner where I can start gaining some experience etc?

And what coins should I then be mining?

Don't even think about it until the ethereum upgrade happens. We don't know how much hash power is going to go in every network after eth changes to proof of stake.

Forget about mining. The difficulty is very high and the btc price is low it's not worth it.

Can you explain? I know Eth will change to POS, but how does that effect other networks besides eth?



Miners are selling at dirt cheap price right now, I am not considering buying a miner right now to ROI and make passive income, but purely to accumulate tokens at dirt cheap prices so I can sell in a year or later if market sentiment turns around.

Same miners which were selling for 6k, are now at 1.5k and with miners who were over leveraged or bought at ATHs, the used market of brand new miners practically is brimming with opportunities.

So when the market turns around at some point, not only are the coins 3-4x'd but the same miner that I buy today will go for a much higher price if I decide to just sell and exit mining.

Also, I am not considering mining btc or eth. Btc, because of its difficulty and rewards at this point. And Eth because of its impending change which Im sure will get delayed and wont happen any time soon.

Im thinking about other profitable mining staples such as LTC, ETC, RVN etc. Kadena is something I'm looking at also.

If anyone is mining right now, or has thoughts or experience about my thoughts let me know. And if so, what would you be buying? Whats an entry level miner? My max budget is 2k usd.

This post was edited by mandarkkk on Aug 11 2022 05:07pm

Where does all that hash power that was on the Ethereum network go after Eth switches to proof of stake?

Some of it gets decomissioned, but the rest is going to flood every other network with hash power and massively drive down profitability.

Get ready for a flood of RX 480 8GB when eth mining is done

Isn't Raven the next one the hashing will go to?

I have no clue. It'll probably go all over

Raven/ETC/LiteCoin

Are the ones I am looking at.

The Eth merge is in Sepetember?

I guess Ill wait and see...

I dont want to fomo in, but when I saw the prices on gpus and also the asic miners I was so tempted because in the past they have been too expensive.