Topic: ETH Difficulty +11% in less than 24 hours. - page 3. (Read 12933 times)

If the coin goes down or to zero, you take 100% of the loss.

Show me something that went to zero, xpy might still be listed somewhere. Onecoin is also doing pretty well, the amount of free cash flowing in is just enormous.

A mining rig is an asset that has a value other than mining, which can be sold or repurposed towards any other coin

True

YOU choose

Hmm, not sure what this means. I can't choose where to invest?

I have a folder of more than 20 dead coins that I mined from back in the Scypt and X11 clone days. Some of those, like the country coins were pumped to hell and back and if you had invested directly in the coin, your investment today is worth zero or peanuts compared to what they traded for, if the blockchain even works at all. You can of course choose to invest in another coin by risking more capital, but that also means you are taking on even more risk. With a mining rig you already have changing to another coin is as simple as a change in the miner configuration, with little additional risk other than your power costs.

antantti

legendary

Activity: 1176

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If the coin goes down or to zero, you take 100% of the loss.

Show me something that went to zero, xpy might still be listed somewhere. Onecoin is also doing pretty well, the amount of free cash flowing in is just enormous.

A mining rig is an asset that has a value other than mining, which can be sold or repurposed towards any other coin

True

Quote from: Bothebu on July 10, 2017, 01:07:39 PM

YOU choose

Hmm, not sure what this means. I can't choose where to invest?

I built two rigs at end of May, sold one about a week ago for 1k more than I paid for the parts to build it. And I got to mine with it for 5 weeks. I am about $350 from breakeven on the whole mining investment. Very happy I sold the one rig! Difficulty is crazy. However, I would like to see the price of ETH drop more in the short term. Weed out the weak hands and give me the opportunity to buy more!

Good example of a miner/trader who knows what to do. If you want to max your eth you need to wait.

Bothebu

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I built two rigs at end of May, sold one about a week ago for 1k more than I paid for the parts to build it. And I got to mine with it for 5 weeks. I am about $350 from breakeven on the whole mining investment. Very happy I sold the one rig! Difficulty is crazy. However, I would like to see the price of ETH drop more in the short term. Weed out the weak hands and give me the opportunity to buy more!

Vann

hero member

Activity: 1036

Merit: 606

Quote from: antantti on July 10, 2017, 12:28:37 PM

Quote from: Vann on July 10, 2017, 11:35:10 AM

Quote from: Vann on July 10, 2017, 12:50:02 PM

Who cares about difficulty when markets are down 20% in hours only? Instant ice-age.

If you take mining for what it is and always has been, a long term investment and hedge against being left holding the bag by buying coins directly, the day to day prices are irrelevant.

How does holding the bag differ from holding the hardware? And don't get me wrong, I am a miner too.

fact: difficulty will rise

--> we need bull markets to level that diff rise
--> better daily profits need markets to rise more than diff
--> if you are sure markets will rise more than diff why don't you buy in then?

fact: only way to do some serious profits with rigs is to mine, hold and wait.

--> needs rising markets to happen
--> if you are sure markets will rise why don't you buy in then?

fact: trading makes profits both ways

--> today, miners will run through excels one more time, are we going below $2/day/gpu?
--> today, shorters again made loads of cash

So, after all you made some mining profits?

That is no excuse to do bad investments with those profits. It is fun though...

Investing directly in the coin you generally only have one way to profit. The coin you buy goes up in value and you sell it for more than you paid for it. If the coin goes down or to zero, you take 100% of the loss. A mining rig is an asset that has a value other than mining, which can be sold or repurposed towards any other coin YOU choose for little risk other than your power cost once it's paid off. As such you have more ways to come out ahead than you do if you just buy the coin.

DoCApocalypto

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Activity: 12

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Quote from: Vann on July 10, 2017, 12:03:39 PM

Quote from: Tmdz on July 10, 2017, 11:51:48 AM

Quote from: Vann on July 10, 2017, 12:50:02 PM

Best thing for these people to do is sell their cards before they hit rock bottom prices, then take that money and buy coins. At least they'll have a chance to make money then.

What if they maxed out their credit card?

Well, that was a mistake in the first place.

Sell the cards, pay most of it back and don't get in at the top of the market again.

They fucked up plain and simple.

Bought into the hype at the peak of the pump, did ZERO research then payed 50-100% above msrp for cards. Give it another month and profit will be some slim pickings at which cards will be cheap as hell this is the last stop to sell off excess hardware.

The rest of us straight chilling with well padded crypto accounts, and some of us will swoop in on cheap gpus.

And as history shows, those that keep mining will come out ahead. Even if you built rigs before the last crash in 2014, you came out way ahead if you kept mining while the market and profitability tanked AND you were able to sell the hardware for more than wait you paid for it after the market turned back up.

Only works for places with cheap electricity.

If you were mining ETH back in Nov of last year with a six card rig you already and at a loss once power was factored in, you were able to a accumulate several ETH a week, more than you could have by buying ETH at the $8 low directly, for little additional risk other than your power cost. You came out way ahead once the market turned AND still have the hardware. That's why it's important to focus on mining as a long term hedge and not a daily profit center.

Right.

antantti

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Activity: 1176

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If you were mining ETH back in Nov of last year with a six card rig you already and at a loss once power was factored in, you were able to a accumulate several ETH a week, more than you could have by buying ETH at the $8 low directly, for little additional risk other than your power cost. You came out way ahead once the market turned AND still have the hardware. That's why it's important to focus on mining as a long term hedge and not a daily profit center.

I did mine ETH from the start. Show me one real world example were mining was more profitable than buying?

edit: unless you already have the hardware

Vann

hero member

Activity: 1036

Merit: 606

Quote from: Vann on July 10, 2017, 12:03:39 PM

Quote from: Tmdz on July 10, 2017, 11:51:48 AM

Quote from: Vann on July 10, 2017, 11:35:10 AM

Best thing for these people to do is sell their cards before they hit rock bottom prices, then take that money and buy coins. At least they'll have a chance to make money then.

What if they maxed out their credit card?

Well, that was a mistake in the first place.

Sell the cards, pay most of it back and don't get in at the top of the market again.

They fucked up plain and simple.

Bought into the hype at the peak of the pump, did ZERO research then payed 50-100% above msrp for cards. Give it another month and profit will be some slim pickings at which cards will be cheap as hell this is the last stop to sell off excess hardware.

The rest of us straight chilling with well padded crypto accounts, and some of us will swoop in on cheap gpus.

And as history shows, those that keep mining will come out ahead. Even if you built rigs before the last crash in 2014, you came out way ahead if you kept mining while the market and profitability tanked AND you were able to sell the hardware for more than wait you paid for it after the market turned back up.

Only works for places with cheap electricity.

If you were mining ETH back in Nov of last year with a six card rig you already had and at a loss once power was factored in, you were able to a accumulate several ETH a week, more than you could have by buying ETH at the $8 low directly, for little additional risk other than your power cost. You came out way ahead once the market turned AND still have the hardware. That's why it's important to focus on mining as a long term hedge and not a daily profit center.

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

I'm not a miner and my plan as a trader is to hold the holdings I have and if the price hit my buy criteria, unload 60% all the money I have and then be patient as long as it takes. I never sell at a loss but to do that you need to be patient.

antantti

legendary

Activity: 1176

Merit: 1015

Quote from: Tmdz on July 10, 2017, 11:51:48 AM

Who cares about difficulty when markets are down 20% in hours only? Instant ice-age.

If you take mining for what it is and always has been, a long term investment and hedge against being left holding the bag by buying coins directly, the day to day prices are irrelevant.

How does holding the bag differ from holding the hardware? And don't get me wrong, I am a miner too.

fact: difficulty will rise

--> we need bull markets to level that diff rise
--> better daily profits need markets to rise more than diff
--> if you are sure markets will rise more than diff why don't you buy in then?

fact: only way to do some serious profits with rigs is to mine, hold and wait.

--> needs rising markets to happen
--> if you are sure markets will rise why don't you buy in then?

fact: trading makes profits both ways

--> today, miners will run through excels one more time, are we going below $2/day/gpu?
--> today, shorters again made loads of cash

So, after all you made some mining profits?

That is no excuse to do bad investments with those profits. It is fun though...

edit: I like cryptos, I really do. I have supported and keep on supporting projects/ devs I think are doing the right thing.

Vann

hero member

Activity: 1036

Merit: 606

Best thing for these people to do is sell their cards before they hit rock bottom prices, then take that money and buy coins. At least they'll have a chance to make money then.

What if they maxed out their credit card?

Well, that was a mistake in the first place.

Sell the cards, pay most of it back and don't get in at the top of the market again.

They fucked up plain and simple.

Bought into the hype at the peak of the pump, did ZERO research then payed 50-100% above msrp for cards. Give it another month and profit will be some slim pickings at which cards will be cheap as hell this is the last stop to sell off excess hardware.

The rest of us straight chilling with well padded crypto accounts, and some of us will swoop in on cheap gpus.

And as history shows, those that keep mining will come out ahead. Even if you built rigs before the last crash in 2014, you came out way ahead if you kept mining while the market and profitability tanked AND you were able to sell the hardware for more than what you paid for it after the market turned back up.

Tmdz

hero member

Activity: 1008

Merit: 1000

Best thing for these people to do is sell their cards before they hit rock bottom prices, then take that money and buy coins. At least they'll have a chance to make money then.

What if they maxed out their credit card?

Well, that was a mistake in the first place.

Sell the cards, pay most of it back and don't get in at the top of the market again.

They fucked up plain and simple.

Bought into the hype at the peak of the pump, did ZERO research then payed 50-100% above msrp for cards. Give it another month and profit will be some slim pickings at which cards will be cheap as hell this is the last stop to sell off excess hardware.

The rest of us straight chilling with well padded crypto accounts, and some of us will swoop in on cheap gpus.

Vann

hero member

Activity: 1036

Merit: 606

Who cares about difficulty when markets are down 20% in hours only? Instant ice-age.

The people that care about day to day prices are day traders and those that mine with NiceHash. If you take mining for what it is and always has been, a long term investment and hedge against being left holding the bag by buying coins directly, the day to day prices are irrelevant.

antantti

legendary

Activity: 1176

Merit: 1015

Sell the cards, pay most of it back and don't get in at the top of the market again.

Agree. Sadly, that is not how the human mind works.

antantti

legendary

Activity: 1176

Merit: 1015

Best thing for these people to do is sell their cards before they hit rock bottom prices, then take that money and buy coins. At least they'll have a chance to make money then.

What if they maxed out their credit card?

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster