Hello Everyone! and here we go again with more crypto information. I have been gathering information on whether mining is still profitable. After some research it seems that a lot of people conclude that bitcoin mining is not very profitable and requires very expensive rigs while other currencies seem to be profitable still without having to invest too much in it.
I am looking for experienced miners to give some insight on what coins are actually worth the try, as a lot of you know, once the complexity of the block increases it becomes more difficult to mine but even so, people still do it.
I have also done some research regarding Genesis mining and I am pretty much getting mixed results from everything I see, some people say it is a scam and some other love it. One of the things I did notice, is that the people who seem to be happy with the service, always seems to be involved in some kind of referral program with Genesis that allows them to triple their hardware's capabilities.
I have started mining SiaCoin and so far so good, I am using an NVIDIA GTX980m and I was able to mine about 100 coins in half of a day which is great, currently the cost of a SiaCoin is about 0.02 cents and you can get an average of 4-5 US Dollars per day.
I have also done my calculations with energy consumption and I am looking at a 5 dollars per week increase in my electricity bill. Overall I can get a total profit of 130 USD per month, which is pretty decent based on the fact that I did not need a specialized miner computer like other coins are currently using.
I have way more information that I would like to share regarding mining and crypto. I am really looking forward to help from the community to keep the revolution of decentralization alive and if you have any questions please don't hesitate to shoot me a message, Thanks everyone and Happy Mining!