Mining in negative = same as burning cash on fire. Don't go full retard and mine in the negative. Your only wearing down your equipment lifespan and lighting your cash on fire.
Just turn off machine till next bull run. Or borrow 401k to buy solar or something if you love mining that much.
Topic: At what price point people will stop mining? - page 5. (Read 2200 times)
I went through the BTC crash in 2011, through the altcoin crash of 2014. This cycle will likely be shorter due to 100x increase in the number of participants but I don't see the downtrend reversing until well into 2019.
For people mining at a fiat loss - I just shake my head. Either these people have no access to exchanges (which seems almost impossible in this day and age) or they're just plain stupid. I would guess the later looking at ETH difficulty still hanging up there
In retrospect, it feels good knowing I told so many people to toss their cards earlier this year for fiat. Now they can just sit back and pick up whatever crypto they want at anywhere from 30 to 99% percent less without having to have dealt with heat and noise for 8 months lol.
You can make money in this downturn, provided you planned well when people went full on stupid during the run-up.
Eww, did I just agree with Metroid lol
For people mining at a fiat loss - I just shake my head. Either these people have no access to exchanges (which seems almost impossible in this day and age) or they're just plain stupid. I would guess the later looking at ETH difficulty still hanging up there
In retrospect, it feels good knowing I told so many people to toss their cards earlier this year for fiat. Now they can just sit back and pick up whatever crypto they want at anywhere from 30 to 99% percent less without having to have dealt with heat and noise for 8 months lol.
You can make money in this downturn, provided you planned well when people went full on stupid during the run-up.
Eww, did I just agree with Metroid lol
I understand it depends on electricity cost and other "future value" thinking but at what price point of ETH, people plan to stop rig?
No, no, no, i don’t agree with anyone saying that there is such a limit. Sure, electricity costs, PUE, blaah. But! Look at the oscillation diagrams, look at the history, look at the volatility of fiat currencies. Do you run to the bank to take off your fiat currency from your savings accounts as soon as the exchange rates go down?? One day they are down, they next day they are up. What’s next, when you switch off your rig??
And... there are other altcoins that keep growing.
Why to mine ethereum endless? Use nicehash and get profit in bitcoins, hold it. If you think that you'll continue to mine ethereum with hope of future rise, some people can't think to do following: visit to whattomine.com and choose most profitable coin. Mine this, then exchange them to ethereum and hold.
People will stop mining when it can't even cover electricity fees and they turn into negative. Also consider that some may still mine while they have money for miners to run, there are a lot of factors. Even if mining will turn into absolutely negative balance, there will be some people who will mine still just for no reason or etc.
People will stop mining when it can't even cover electricity fees and they turn into negative. Also consider that some may still mine while they have money for miners to run, there are a lot of factors. Even if mining will turn into absolutely negative balance, there will be some people who will mine still just for no reason or etc.
I have been testing nicehash in past couple years ago and it didnt seem very profitable at that time, mining directly currency seemed more profitable and then if you want some bitcoin, just exchange mined coins to Bitcoin.
Im not sure maybe this is changed now? As maybe couple years ago there was no big demand for nicehash and thats why profits wasnt that big.
Have you checked which one is more profitable?
Even if people suddenly stop mining ETH the result won't be drastic like it would be with BTC due to the shorter block-times.
Even if 1% of the hashrate only stayed on ETH it would be secure enough as long as its decentralized.
Even if 1% of the hashrate only stayed on ETH it would be secure enough as long as its decentralized.
Why to mine ethereum endless? Use nicehash and get profit in bitcoins, hold it. If you think that you'll continue to mine ethereum with hope of future rise, some people can't think to do following: visit to whattomine.com and choose most profitable coin. Mine this, then exchange them to ethereum and hold.
People will stop mining when it can't even cover electricity fees and they turn into negative. Also consider that some may still mine while they have money for miners to run, there are a lot of factors. Even if mining will turn into absolutely negative balance, there will be some people who will mine still just for no reason or etc.
People will stop mining when it can't even cover electricity fees and they turn into negative. Also consider that some may still mine while they have money for miners to run, there are a lot of factors. Even if mining will turn into absolutely negative balance, there will be some people who will mine still just for no reason or etc.
It depends. If you have the capital up front, shutting off your miner when it starts not covering electricity and just buying the amount of electrical costs in the coin is the most profitable way. If you don't have it up front and FIRMLY believe the coin will bounce back, leaving your miner on does make sense, as long as you can pay the electric bill eventually (think of it like how credit functions).
Also if you have use for the heat, I use an S5 in my bedroom when the weather shifts. Even though it hasn't been profitable since January, it heats the room and earns back a decent amount of what it costs to run. I have electric heating in my house, so technically in winter it's profitable for me to run unprofitable mining gear as I'd be spending that money on electricity anyway.
Why to mine ethereum endless? Use nicehash and get profit in bitcoins, hold it. If you think that you'll continue to mine ethereum with hope of future rise, some people can't think to do following: visit to whattomine.com and choose most profitable coin. Mine this, then exchange them to ethereum and hold.
People will stop mining when it can't even cover electricity fees and they turn into negative. Also consider that some may still mine while they have money for miners to run, there are a lot of factors. Even if mining will turn into absolutely negative balance, there will be some people who will mine still just for no reason or etc.
People will stop mining when it can't even cover electricity fees and they turn into negative. Also consider that some may still mine while they have money for miners to run, there are a lot of factors. Even if mining will turn into absolutely negative balance, there will be some people who will mine still just for no reason or etc.
It's a hard time guys for mining... very hard ... I pray god for the market to grow again and miner profitability get back to an acceptable level.
Let's pray together ! What's we have to lose to test to pray together ! Let's pray
Let's pray together ! What's we have to lose to test to pray together ! Let's pray
I understand it depends on electricity cost and other "future value" thinking but at what price point of ETH, people plan to stop rig?
people will never stop mining.
people will reduce mining.
and eth needs to go lower then 175 for large low power eth mining farms to quit.
I understand it depends on electricity cost and other "future value" thinking but at what price point of ETH, people plan to stop rig?
As mentioned here, I've also seen many people turn off their machines already. I have a good friend who's seriously thinking about it. Sorry for the amateur question, but how will mining machines being turned off affect the coin? Will it affect the price? Will it affect the other people who keep mining? I guess it would increase the transaction time? 
I understand it depends on electricity cost and other "future value" thinking but at what price point of ETH, people plan to stop rig?
Under $200 most will quit or shutoff machines.
Many already have.
That is right. The difficulty is dropping now.
If the difficulty is dropping why I don't see it in my results of Nicehash miner, I had 0.55 mBTC yesterday from a rig with 6 Rx 580 cards and I am still having the same reward daily from the same rig ?
Maybe Nicehash acts a little later and that is why I don't see an increase in rewards value from my miners.
I understand it depends on electricity cost and other "future value" thinking but at what price point of ETH, people plan to stop rig?
Under $200 most will quit or shutoff machines.
Many already have.
Hi,
I think that the ETH price will have a come back. It could be a good opportunity to buy some. For mining, I installed https://github.com/rainbowminer/RainbowMiner for now, since it tracks the electricity cost and skips miners, that aren't profitable or idles until better times. Also, it switches between algos and pools, so that I do not have to track, which coin is good for mining.
Regards
borox
I understand it depends on electricity cost and other "future value" thinking but at what price point of ETH, people plan to stop rig?
Under $200 most will quit or shutoff machines.
Many already have.
That is right. The difficulty is dropping now.
If the difficulty is dropping why I don't see it in my results of Nicehash miner, I had 0.55 mBTC yesterday from a rig with 6 Rx 580 cards and I am still having the same reward daily from the same rig ?
Maybe Nicehash acts a little later and that is why I don't see an increase in rewards value from my miners.
With Nicehash you are only being paid for what buyers are willing to spend and not the true value of the hash rate as if you were to mine the coin for yourself. So while the difficulty may be dropping, buyers are most likely lowering their bids and pocketing the difference for themselves.
I understand it depends on electricity cost and other "future value" thinking but at what price point of ETH, people plan to stop rig?
Under $200 most will quit or shutoff machines.
Many already have.
That is right. The difficulty is dropping now.
If the difficulty is dropping why I don't see it in my results of Nicehash miner, I had 0.55 mBTC yesterday from a rig with 6 Rx 580 cards and I am still having the same reward daily from the same rig ?
Maybe Nicehash acts a little later and that is why I don't see an increase in rewards value from my miners.
I think it really depends on your size of the farm and also your mining tactics. If you do have a large farm and dont have money on side for power payments (i mean cashed out when currency was overvalued) then it is problematic.
Also as you say depends a lot from energy price which is your biggest cost , building rent, cooling etc...
Mining is about competition , who will do it more efficient and cheap as possible will always be a winner. If people who dont switch out rigs and mining at loos will start to get more coins as people will start to switch out mining rigs.
It could be only my thoughts, but personally think mining calculators are useless, cause they cannot predict currency price. Its so volatile that even the biggest market caps can change by 30% daily. And dont think it is possible for any top currencies to go under production cost. Because most of the people wont sell at loos , and this means inflation is slowing down.
Also as you say depends a lot from energy price which is your biggest cost , building rent, cooling etc...
Mining is about competition , who will do it more efficient and cheap as possible will always be a winner. If people who dont switch out rigs and mining at loos will start to get more coins as people will start to switch out mining rigs.
It could be only my thoughts, but personally think mining calculators are useless, cause they cannot predict currency price. Its so volatile that even the biggest market caps can change by 30% daily. And dont think it is possible for any top currencies to go under production cost. Because most of the people wont sell at loos , and this means inflation is slowing down.
I understand it depends on electricity cost and other "future value" thinking but at what price point of ETH, people plan to stop rig?
Under $200 most will quit or shutoff machines.
Many already have.
That is right. The difficulty is dropping now.
Just look at Siacoin. Difficulty is not dropping despite losing $2-3/day net. I think plenty of people (myself included) would be more than willing to mine at a loss gambling that the price will go back up... Remember, it's not a loss until you sell.
SIA is on ASICs now, so it's not example.
https://obelisk.tech/
Also SIA has infinite volume (there is no coin cap), so it is completely based on potential usability, not scarcity.
Just look at Siacoin. Difficulty is not dropping despite losing $2-3/day net. I think plenty of people (myself included) would be more than willing to mine at a loss gambling that the price will go back up... Remember, it's not a loss until you sell.
SIA is on ASICs now, so it's not example.
https://obelisk.tech/
Just look at Siacoin. Difficulty is not dropping despite losing $2-3/day net. I think plenty of people (myself included) would be more than willing to mine at a loss gambling that the price will go back up... Remember, it's not a loss until you sell.
that is only true if you buy.
If you mine and pay for electricity, it may be a loss long before you sell or even have an opportunity to sell.
exactly what they don't understand and live in denial is that mining at total loss is actually a double loss whereas buying coins is only a loss if price goes down, mining at loss is paying electricity and if price goes down then is a double loss cause you could have used the electricity money to buy coins. If is a total loss then is better to turn it off if is summer now if is winter and you mine at home and you need the heat then by all means keep the miners on.
It has been pointless to mine anything for at least 5 months.
Agreed. Ive been trying to tell people don't waste after tax money on electricity. Use pre-tax money to load up on your 401k instead to borrow from 401k and buy coins at capitulation bottom prices. This type of move can bring in 6 digits in the future.
Just look at Siacoin. Difficulty is not dropping despite losing $2-3/day net. I think plenty of people (myself included) would be more than willing to mine at a loss gambling that the price will go back up... Remember, it's not a loss until you sell.
that is only true if you buy.
If you mine and pay for electricity, it may be a loss long before you sell or even have an opportunity to sell.
exactly what they don't understand and live in denial is that mining at total loss is actually a double loss whereas buying coins is only a loss if price goes down, mining at loss is paying electricity and if price goes down then is a double loss cause you could have used the electricity money to buy coins. If is a total loss then is better to turn it off if is summer now if is winter and you mine at home and you need the heat then by all means keep the miners on.
It has been pointless to mine anything for at least 5 months.
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