It doesn't matter if its trash so long as its fungible trash at a profitable price. i.e. the situation is OK for now but as soon as the market adjusts to the glut of GPU miners suddenly minting no-name coins no one really wants (and the novelty wears off) those prices are going to drop like a rock.
Most of these coins only have value as scams that you could prop up then cash out by exchanging for BTC or ETH; so long as the "new coin of the day" hype train exists there will be a way to make money off of GPU mining. I guess there will always be suckers in this unregulated market.
Let me pull up my latest electric bill (which I almost have never looked at/have on autopay):
New Charges
Rate: RS-1 RESIDENTIAL SERVICE Base charge: $8.99
Non-fuel: (First 1000 kWh at $0.073710) (Over 1000 kWh at $0.083710) $76.74
Fuel: (First 1000 kWh at $0.034870) (Over 1000 kWh at $0.044870) $36.49
Electric service amount 122.22
20.99 in taxes / surcharges
Total $143.21
$143.21 for 1036 kWh in a 30 day timespan
0.138 $/kWh with taxes and fees I guess for me, I'm sure if I was doing crazy ASIC stuff at my house they'd charge me more/the rate would become less favorable
Looks like mining BTC would net be $0.85 a day profit with some kind of ASIC. $310/yr. Yikes.
