Dash Forum

How profitable is i...
 

How profitable is it to mine Dash? How do I get started?  

  

0

How profitable is it to mine Dash? How do I get started?

1 Answer
0

Good question. This was asked recently on reddit, so I'll share some of the responses below.

u/chaddb_ stated:

If you're going to be purchasing an ASIC to mine, then it's not worth it for Dash (or any other crypto). You are better off just purchasing the coins directly as you'll end up with more once you factor in difficulty adjustment. The sector is dominated by 1 chip manufacturer, and they want to price things so that they capture the bulk of the excess profit whilst you take all the risk (and earn a tiny profit or breakeven).

If you want to get one to play around with and learn from (irrespective of economic outcome) then go for it.

solarguy2003 advised:

To the best of my knowledge, to mine Dash profitably on your own, at this time requires a fairly state of the art mining rig for the x-11 hashing protocol, and very cheap electricity. Like, industrial/wholesale priced electricity.

There are some places where you can rent hashing power, but I've never heard of anybody making much money. It basically has become a very efficient and large scale business model with fairly thin margins, unlike the "good old days".

Note that the economics look way better if you live in a cold climate, AND you are using electricity for heat anyway. The mining rig burns the electricity and makes heat (which you need anyway) and occasionally you get to print a new Dash as a bonus. This is also the reason that a lot of commercial mining operations are located in cold climates (Iceland has a bunch) because then they don't have to run huge air conditioning units to keep the mining rigs happy.

And I, u/TrustThyself weighed-in with:

Not sure it's as hands-on as you'd like and you may have already considered it, but another option is cloud mining.

I'm not sure of all the current cloud mining options and their reputations but a search, if warranted, would likely be informative.

For example, here's one overview at CryptoCompare, though it's from Sept. 2017 so things may have since changed: https://www.cryptocompare.com/mining/guides/how-to-cloud-mine-dash/

And finally, u/Haesiraheal noted:

It’s almost not worth mining almost cryptos. Dash especially not worth it on a small scale, unless you get stupid cheap electricity like 5c/kw

  
Working

Please Login or Register