Buy more cards or store USDT | Bitcointalksearch.org

Bitcoin_Arena

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Quote from: FirmWars on April 15, 2022, 02:20:25 AM

What do you think.

It's a wise decision IMO. Buying GPU's right now is highly risky especially with the fact ETH POW could bow out in the foreseeable feature.

Quote from: swogerino on April 15, 2022, 03:19:04 AM

I think it is not the wisest decision to be made.Having that arsenal of GPU-s which would give you near 500 Mhsh or 0.5 Ghsh of mining processing power

I think he's continuing to mine with the GPUs he has for now. He just isn't buying any new ones.

Quote from: swogerino on April 15, 2022, 03:19:04 AM

I think it is best to continue mining even in bear market and save those money if you have the economic power to do so.As they say after bear market the bull run is inevitable.Rather than dealing with shitty altcoins I would continue to mine Ethereum and be happy with it,you can opt to receive payouts in Bitcoin if you use specific mining pools.

This strategy is only good if someone has excess money to cater for other expenses like paying electricity bills minus someone having to touch the ETH and selling it off at a loss.

Pterosaur

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This is the best time to start storing USDT or other stable coins because at a point mining will be less profitability and to continue mining will pissed anyone off even if free electricity is available but with USDT available you can use that to buy coins for cheap price.

FP91G

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Quote from: VRExpress on April 17, 2022, 12:59:39 AM

If you have free electricity then buying more graphics cards makes sense since the ETH merge has been postponed but it still shouldn't stop you from storing some stable coin aside, stable coins are good for opportunity grabbing when bear market comes.

When the profit falls to 10-20 cents per day, you will not want to mine even on free electricity. And most miners will not buy video cards for mining.

VRExpress

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If you have free electricity then buying more graphics cards makes sense since the ETH merge has been postponed but it still shouldn't stop you from storing some stable coin aside, stable coins are good for opportunity grabbing when bear market comes.

philipma1957

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Quote from: adaseb on April 16, 2022, 09:16:47 PM

$400 for 60 days is pretty impressive with a bank. A year ago when the premiums were high for USDT loans I remember making something like 5% a month. Now the premiums went down a lot. So there is not much you can do with your Tether except just keep it in your cold storage and perhaps buy Bitcoin if it ever becomes cheap again like $20k or $15k even.

Here we got some banks that pay like $300 just by opening an account and getting your employement deposits with them. Most likely got a similar hold of 60-90 Days. I think the min balance is only like $3k however. Not $20K. Most people don’t have $20K laying around saved up these days.

it is the cash reserves of the four man partnership.

we will take ourselves out to a nice dinner.

next month.

adaseb

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$400 for 60 days is pretty impressive with a bank. A year ago when the premiums were high for USDT loans I remember making something like 5% a month. Now the premiums went down a lot. So there is not much you can do with your Tether except just keep it in your cold storage and perhaps buy Bitcoin if it ever becomes cheap again like $20k or $15k even.

Here we got some banks that pay like $300 just by opening an account and getting your employement deposits with them. Most likely got a similar hold of 60-90 Days. I think the min balance is only like $3k however. Not $20K. Most people don’t have $20K laying around saved up these days.

philipma1957

legendary

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'The right to privacy matters'

Quote from: The Sceptical Chymist on April 15, 2022, 05:04:40 AM

OP didn't say he was halting mining ETH or any other coin as far as I understood; he just said he's planning on taking a break from buying more GPUs--and with the uncertainty around what's going to happen once ETH goes PoS, that's probably not a bad idea. Who knows what's going to be profitable at that point?

On the other hand, since GPU prices are falling it's ironic that OP and a lot of other miners aren't buying them anymore--or maybe that's the reason prices are falling in the first place, who knows. I probably wouldn't be storing any funds in USDT though. I'm not a fan of any stablecoin, and I certainly wouldn't keep USDT on an exchange for any extended period of time.

I got a few more gpus coming in. But I have slowed my purchases bigly.

Stacking some cash in a new bank account. They are giving me 400 to hold 20k for 60 days so 2% for 60 days is good.

I will decide when and if I want to buy more cards in June.

Crypt0Gore

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I'd keep buying cheap GPUs unless the value starts rising again, I believe that mining crypto still has a good future ahead and I don't care much about any possible correction, its not going to last anyways because all eye is on crypto right now, even stock market investors are abandoning stock for crypto.

Takyeon

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A bear market is coming, if anyone says otherwise it's a mislead, start storing your usdt if you have some coins you want to buy and hold for BTC halving coming around 2024-2025.

adaseb

legendary

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Once you start mining, usually with a GPU or two. And you see profits, its hard to stop building rigs. I've done it myself. Bought 1 GPU, 1 month later I bought another one. Then a month later I had a complete rig. Then next month had another rig.

You become addicted to buying GPUs and building rigs. It becomes fun. You easily max out your credit cards and available power at your place. This is fine if its still a bull market. And I got lucky because all my rigs were ROI'd after 90 days or so.

However I've seen people do this and become burdens to debt. Because they bought a GPU for $1000, which second hand value was around $300. They owed thosands on their credit cards with 20% interest. And it got bad.

devil2man

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You have an enviable collection of gpu but your strategy is right stop buying other gpu mine with the ones you already have and slowly accumulate usdt

JangoUnchained

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I'm still going to go with 'don't put all your eggs in one basket', you can store USDT or BUSD which I recommend over USDT and still continue to mine ETH, there is no point in stopping, every miners that bought their GPU in 2022 should already understand and know what's coming, the road ahead will be bumpy and ROI might become difficult to get but you are definitely in for a long ride.

Z390

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Quote from: safar1980 on April 15, 2022, 05:11:16 AM

Here are all statistics about MSRP prices for video cards
https://bitcointalksearch.org/topic/m.57570248
I don't think that you will accumulate a lot of USDT over the last 4 months possible from binning on 14 video cards, but you might want to change 2x1660 to one 3060ti.

Why are you advising OP to change 2x 1660 to one 3060ti? To me its the same, a 3060ti needs 130w to give miners 60MH while 2x 1660 can do 30-32MH using 55-60watt using Trex core clock locking, thats 60-64MH using 120-130watt... Both cards should use more if measured from wall but they are roughly same.

safar1980

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Here are all statistics about MSRP prices for video cards
https://bitcointalksearch.org/topic/m.57570248
I don't think that you will accumulate a lot of USDT over the last 4 months possible from binning on 14 video cards, but you might want to change 2x1660 to one 3060ti.

The Sceptical Chymist

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OP didn't say he was halting mining ETH or any other coin as far as I understood; he just said he's planning on taking a break from buying more GPUs--and with the uncertainty around what's going to happen once ETH goes PoS, that's probably not a bad idea. Who knows what's going to be profitable at that point?

On the other hand, since GPU prices are falling it's ironic that OP and a lot of other miners aren't buying them anymore--or maybe that's the reason prices are falling in the first place, who knows. I probably wouldn't be storing any funds in USDT though. I'm not a fan of any stablecoin, and I certainly wouldn't keep USDT on an exchange for any extended period of time.

Metroid

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Xtreme Monster

Store usdt, let the sheeps keep buying the scam at scam prices.

swogerino

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Quote from: FirmWars on April 15, 2022, 02:20:25 AM

I think its time for me to take a break from buying graphic cards, I have 12x 1660s and one 3070 and one 3060ti and a vega 56 gpu, I feel its time to pause this right now and start gathering some USDT for the preparation of bear market, I can use this to buy top alts at a good price and wait (HODL). I think this is the perfect path to take from now on...... What do you think.

I think it is not the wisest decision to be made.Having that arsenal of GPU-s which would give you near 500 Mhsh or 0.5 Ghsh of mining processing power I think it is best to continue mining even in bear market and save those money if you have the economic power to do so.As they say after bear market the bull run is inevitable.Rather than dealing with shitty altcoins I would continue to mine Ethereum and be happy with it,you can opt to receive payouts in Bitcoin if you use specific mining pools.

FirmWars

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Activity: 242

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I think its time for me to take a break from buying graphic cards, I have 12x 1660s and one 3070 and one 3060ti and a vega 56 gpu, I feel its time to pause this right now and start gathering some USDT for the preparation of bear market, I can use this to buy top alts at a good price and wait (HODL). I think this is the perfect path to take from now on...... What do you think.

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