At what price point people will stop mining? - page 3.

sparker327

full member

Activity: 462

Merit: 100

Parachute for sale. Used once. Small red stain.

Quote from: mineshop.eu on August 22, 2018, 06:26:48 AM

I wounder how many people actually do exchange their coins as they have mined ? Huh

I've mined for years and exchange my coins all the time. Sometimes after I sell I put in a buy order for the same coin at a lower price and play the market. Some coins I just hodl, really depends on how that coin is doing and what the future might look like. There have been coins I mined simply to sell and use to buy other coins...Im sure there are many out there who do the same thing, not everyone hodls.

mineshop.eu

copper member

Activity: 406

Merit: 59

I wounder how many people actually do exchange their coins as they have mined ? Huh

stolarzz

newbie

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Quote from: Mike011 on August 22, 2018, 04:39:36 AM

well, it`s really simple - hack the shit out of nicehash, bring them down completely and you could mine with nice profit eth, raven or whatever that is on their algo list.

Yeah remember when nicehash was hacked, mining profit rise 50% in one day Cheesy

Mike011

full member

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well, it`s really simple - hack the shit out of nicehash, bring them down completely and you could mine with nice profit eth, raven or whatever that is on their algo list.

DrG

legendary

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Merit: 1035

See, you just can't fix stupid when people are so greedy they can't even think straight. If your only goal is to make money (assuming fiat conversion is endpoint) then getting as much coin as possible is the method. If you're mining at a loss then you are actually losing coins.

If you spent $5 on electricity but only get $3 of XMR you're losing $2 of XMR you could have bought on an exchange. That's is completely irrespective of owning a miner or not.

People - sit down with an actual piece of paper and draw it out with pictures if you have to.

Now, if the sheer joy of watching a miner spin fans and make noise excites you more than the mining loss then by all means mine away.

If your goal is to make fiat money from crypto conversion, then it never makes sense to mine at a loss. NEVER.

STSToken

newbie

Activity: 65

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Depends on the costs.

VyprBTC

full member

Activity: 350

Merit: 100

Quote from: greyday on August 21, 2018, 08:42:34 PM

Quote from: toptek12 on August 21, 2018, 08:34:23 PM

I won't stop mining, i love it, it's fun all ways has been. it's a hobby i don't all ways turn on all my stuff, some days i don't run any thing.

it gives me some thing to do that pays something,I'm not in it for the money or ROI . I do hold most coins i mine because maybe one day, I'll need it, other wise it's all fun . I'm also retired with a disability, so i need some thing to do besides play wow and take care of mom who has dementia.

I keep adding to my GPU rigs,an buy old ASIC like D3 etc use them up,despite the down time we see now in coin prices,plus I'm on solar .

I think there's like 200 people on here who would sell you old ASICs. I have a few I was about to list on ebay, actually. Start a "wanted" thread in the marketplace if you're looking, you'll get tons of bites...

(or PM me if you want a list, it's rather short Wink

)

I've got my stuff listed in the marketplace. 50 1080ti's 1070's 1070ti's and 1080 along with all the rigs if you want them hit me up.

greyday

member

Activity: 434

Merit: 52

Quote from: toptek12 on August 21, 2018, 08:34:23 PM

I won't stop mining, i love it, it's fun all ways has been. it's a hobby i don't all ways turn on all my stuff, some days i don't run any thing.

it gives me some thing to do that pays something,I'm not in it for the money or ROI . I do hold most coins i mine because maybe one day, I'll need it, other wise it's all fun . I'm also retired with a disability, so i need some thing to do besides play wow and take care of mom who has dementia.

I keep adding to my GPU rigs,an buy old ASIC like D3 etc use them up,despite the down time we see now in coin prices,plus I'm on solar .

I think there's like 200 people on here who would sell you old ASICs. I have a few I was about to list on ebay, actually. Start a "wanted" thread in the marketplace if you're looking, you'll get tons of bites...

(or PM me if you want a list, it's rather short Wink

)

toptek12

member

Activity: 123

Merit: 10

I won't stop mining, i love it, it's fun all ways has been. it's a hobby i don't all ways turn on all my stuff, some days i don't run any thing.

it gives me some thing to do that pays something,I'm not in it for the money or ROI . I do hold most coins i mine because maybe one day, I'll need it, other wise it's all fun . I'm also retired with a disability, so i need some thing to do besides play wow and take care of mom who has dementia.

I keep adding to my GPU rigs,an buy old ASIC like D3 etc use them up,despite the down time we see now in coin prices,plus I'm on solar .

Tszunami98

full member

Activity: 812

Merit: 124

I shut down my GPU's now, i have around 50 but my electricity is somewhere in the range of 0.1-0.12.
Now i am looking to relocate somewhere to find cheaper power..around 6-7 cents. From what i hear, we might go so low that even that won;t be profitable anymore. I can just hope the market to recover because i don;t want to sell them.

greyday

member

Activity: 434

Merit: 52

Quote from: mineshop.eu on August 21, 2018, 06:25:38 AM

Quote from: deskless on August 21, 2018, 05:43:39 AM

Quote from: greyday on August 20, 2018, 07:42:18 PM

Well, no, again mathematically it makes a bunch of sense. If you are willing to buy coins daily, it is absolutely more profitable to turn off your miner when it costs more to run than it earns and to spend that money on the coin (or whatever coin you trade for). If you have free electricity, then yeah, zero is the only point where it makes no sense to run, but for the rest of us...

Well, people don't apply mathematics before making such decision.
From their perspective - Why to leave the hardware unused. Unless someone's electricity cost is over hundreds of dollars, it can be seen as just a monthly expense and the mining rewards seen as income. That can be the only reason why people will continue mining rather than applying common sense and buy coins worth their average mining electricity expense daily.

Yes and specially if you dont own big mining farm and dont have high power costs. Like most of the miners who mine from home, doesnt exchange their coins for years. And are gambling and waiting for those big gains.

Sure to both. But I wasn't talking about how people rationalize things, I was merely stating a fact.

ruplikminer

jr. member

Activity: 504

Merit: 3

I have a lot of photovoltaic panels. So for me it's all profit. I will never stop mining. Actually I am adding more FPGAs and more GPUs and also more ASICS and also more PV panels to mine more and more

mineshop.eu

copper member

Activity: 406

Merit: 59

Quote from: deskless on August 21, 2018, 05:43:39 AM

Quote from: greyday on August 20, 2018, 07:42:18 PM

Quote from: mineshop.eu on August 20, 2018, 03:55:59 AM

Quote from: gotminer on August 19, 2018, 10:08:30 PM

Quote from: greyday on August 19, 2018, 07:23:11 PM

Quote from: gotminer on August 18, 2018, 11:23:14 PM

Quote from: DrG on August 18, 2018, 03:06:02 PM

Quote from: Turkish88 on August 18, 2018, 01:46:42 PM

oh very hard question, some miner believe to tomorow days and can mine in non profitable points when electricity cost higher then income

The thing that is idiotic - why would you spend $5 of electricity mining to effectively buy $3 of coin everyday with a mining rig. Stop the miner and spend the $5 to buy $5 of coin on an exchange.

Because you've already invested money in hardware and don't want to sell it at a loss. Why not do both? Not having all of your eggs in one basket is nice.

Mathematically that doesn't make sense. If the coin never rebounds, you're just losing money.

I shut mine off when it's been in the negative for more than a couple days. In winter, though, totally different story, as I heat my house with them.

Sure, you have to believe that the coin will rebound. Or just trade it for bitcoin now and wait several years (hoping that the value of btc will be much much higher).

Totally agree , there is no point shunting down the miners till the coin doesn't go to zero, which dont think is going to happen if you are mining top 10 coins by market cap. They will be trade and manipulated as they reached some very oversold values. Only if they doesnt get hacked or something.

Well, no, again mathematically it makes a bunch of sense. If you are willing to buy coins daily, it is absolutely more profitable to turn off your miner when it costs more to run than it earns and to spend that money on the coin (or whatever coin you trade for). If you have free electricity, then yeah, zero is the only point where it makes no sense to run, but for the rest of us...

Well, people don't apply mathematics before making such decision.
From their perspective - Why to leave the hardware unused. Unless someone's electricity cost is over hundreds of dollars, it can be seen as just a monthly expense and the mining rewards seen as income. That can be the only reason why people will continue mining rather than applying common sense and buy coins worth their average mining electricity expense daily.

Yes and specially if you dont own big mining farm and dont have high power costs. Like most of the miners who mine from home, doesnt exchange their coins for years. And are gambling and waiting for those big gains.

deskless

jr. member

Activity: 279

Merit: 1