Topic: Ethereum Mining Now Close to Unprofitable, so what is best thing to do now? - page 2. (Read 1838 times)
September 12, 2018, 04:05:30 PM
Keeping most of investment in just one coin is not a good idea. You should think of some risk management. Never put all your eggs in one basket. Best thing to do now is to diversify your portfolio so that you don't regret later if ethereum never recovers to its previous glory.
September 12, 2018, 04:01:40 PM
Actually it is really tough to take decision at this level. Since the prices are going down so many investors as well as miner will stop mining investing and mining and the supply will be low which in turn will increase the price. So follow the hold principle and be calm.
September 12, 2018, 03:42:10 PM
Then mine another crypto that supports GPU mining there's a lot of them but you should choose the profitable ones I would like to mine Monero and Electroneum for the meantime or look for some altcoins/tokens with low difficulty that is yet to increase once they hit hard from the market but beware as you might get some useless coins and the easiest way to do is to stop mining for a brief period of time then wait for the things to get better save electricity.
September 12, 2018, 03:28:17 PM
I think you should adopt hold principle as the price is low many miners will not be interested more to do mining here and this will reduce the miners in this project as a result the price will rise again and then you can sell them at a good profit.
September 12, 2018, 03:08:37 PM
To my knowledge and understanding, miners actually do not worry of ETH prices at times like this. They have made humongous profits when ETH was at ATH and $1000 above and even at this less price they are still ready and want to continue mining ETH is because they have the belief that ETH will bounce back and recover soon. Miners are not usually short term thinkers, they do invest a lot of amount in equipments with a long term vision,
September 12, 2018, 03:04:55 PM
I hope ethereum will not down but current scenario is not hopeful because its price falling continuously. So you can sell your ethereum if you think price will fall more.
September 11, 2018, 08:41:59 AM
Give it up and trade on ETH or on BTC, EOS. They are more mobile now and you profit will be much higher there and you will be calm about your money.
September 10, 2018, 01:47:18 PM
Soon you will have neither profit nor loss. As Ethereum is slowly being prepared to become fully POS. I think that in the middle of nowhere, any small miner must calculate this possibility and get out of the mining. It does not seem to me that this activity will have any chance of being profitable next year for people who pay high prices for electricity.
September 10, 2018, 10:20:45 AM
this is a good opportunity to buy Ethereum coins. Unfortunately I do not have the funds to buy it, but I think they will be able to make a good profit on this price drop. use the opportunities, and do not expect quick results, be wise.
September 10, 2018, 03:21:29 AM
Yes, Ethereum has no profit now. I think the best way to do this now is to sell our Ethereum mining machine. Then buy some Ethereum, because the price of Ethereum is really very low.
September 10, 2018, 03:07:51 AM
I think it makes no sense to look at the profitability of mining. If the price of mining is less than the break-even price then some of the miners will leave and then the complexity will fall and the break-even price will fall again. And so it can go on forever.
September 10, 2018, 03:04:20 AM
I don't know what would be the best thing to do here but can I suggest transfering your funds from ether to bitcoin or tether? It is indeed a very risky thing to do to be sure, but the whole crypto scene is risky nonetheless. 
If this the dip or it may go around 180$ and bounce back to 500$+ and I could not enter back to the train! that is risky.
If I had more money as fiat or usdt, I will use those funds to buy more ETH on this situation. but my financial situation also not good right now to do so.
September 10, 2018, 02:57:48 AM
I know that it is very stressful to see our portfolio going down but this situation where ether is on the downtrend we have to wait and hold on to our portfolio and see what is going to happen with ether in the weeks to come. I know that no one can precisely predict the future but for me ether will bounce back.
I also think it will bounce back but it will take more time and will not go more than 1000$ like last time in the very short period. Most of the ETH holders will dump their tokens very early and convert them to USDT or fiat this time. It will make the next bull run very difficult. 
September 10, 2018, 02:37:18 AM
at the moment I think it is the right time to continue to think positively about ethereum's development for the future, so maybe because ethereum prices continue to fall, I will still buy it, because I'm sure everything will return to a much better price than now. to be honest, I myself am currently starting to worry about prices that are continuing to decline, but that is what can be an opportunity for us, and it all depends on how we disclose it
September 10, 2018, 02:33:02 AM
Sometimes turning the equipment off and waiting for better opportunities is the best bet. When you can buy more Ethereum with your electric money than you can mine then it's time to turn off the equipment. I have actually stopped mining altogether as it's impossible to compete with the zero electricity miners.
What do you mean by zero electricity miners? As far as I know, mining need electricity, are you referring to miners who use wind power/solar power etc for generating electricity and use that for mining?
September 10, 2018, 02:28:26 AM
I think that now you need to get as much eth as possible as cheaply as possible. I do not believe that the price will fall for a long time
September 10, 2018, 02:18:26 AM
If it came close to unprofitable some miners will stop mining and difficulty will decrease and will become profitable again.
The difficulty mechanism works in the two ways when the price goes up and when the price goes down.
There is an interesting guide about how to mine Ethereum here https://7bitcoins.com/how-to-mine-ethereum-eth-mining-beginners-guide/
That is a good point if the mining difficulty decreased then it will profitable for those who still continue the mining. Thanks for the information and link. The difficulty mechanism works in the two ways when the price goes up and when the price goes down.
There is an interesting guide about how to mine Ethereum here https://7bitcoins.com/how-to-mine-ethereum-eth-mining-beginners-guide/
September 09, 2018, 05:41:46 PM
I don't know what would be the best thing to do here but can I suggest transfering your funds from ether to bitcoin or tether? It is indeed a very risky thing to do to be sure, but the whole crypto scene is risky nonetheless.
September 09, 2018, 05:33:39 PM
Sometimes turning the equipment off and waiting for better opportunities is the best bet. When you can buy more Ethereum with your electric money than you can mine then it's time to turn off the equipment. I have actually stopped mining altogether as it's impossible to compete with the zero electricity miners.
This. If it's not profitable and you can't switch to other profitable coin - switch it off.
It's funny that there's still a lot of amateur miners with a mindset "I'll keep mining below break-even point, maybe the price will go up". With that logic - just buy it with saved electricity bill money. You'll save some money + extend equipment's life.
September 09, 2018, 05:18:12 PM
Well
There are several things that can be done
Which. Includes continuation of the fight against giving up
You have come a very long way to give up so cheap and easily
You need to keep fighting it
Make it work for you
There are several things that can be done
Which. Includes continuation of the fight against giving up
You have come a very long way to give up so cheap and easily
You need to keep fighting it
Make it work for you
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