Topic: Finally GPU mining is dead... (Read 1067 times)

Why isn't anyone here talking about EIP-1559?

Which brand 3090 and isn't it throttling? Hope you're getting 120+ on ETH.

Get on craigslist or newegg, as far has the radeon vii is working perfectly there won't be any problem I believe, many people still have interest on radeon vii and few have decided to use liquid cooling on theirs since heat is the greatest enemy of this gpu

Well alot depends on what GPUs you bought and your power costs like Metroid said. If you got cheap power you can keep mining longer than someone with expensive power. However keep in one thing. Usually when it reaches the point where 50% of your profits go towards your power bill, the profits aren't great either if you got very cheap or free power.

Another issue is what GPU did you buy for $400? Is it some new Nvidia or AMD gpus or did you pay $400 for an RX 470 8GB GPU which was released almost 5 years ago. The RX 470 8GB are very inflated in price right now, people are selling them for $300-$400. However just a few months ago they were worth $125-$150. So if you overpaid for this old GPU then it might take a while to ROI. However if you bought some newer GPU at MSRP then you can always resell it to a gamer and most likely make a little profit if things start to turn bad soon.

Where did you sell 3070?
How do you make sure if the buyer doesn't return after using the GPU for a few weeks?
I Am asking as I want to sell my radeon VII but worry that someone on eBay might do that.

I started hedging with btc at 51,500 adding as it goes lower I keep adding. I'm now hedged 2.25 months worth of mning income.  You need to think like a gold miner or farmer and have ability to remove risk from movments in price.  Being able to sell eth at 1,350 3 months from now is looking really good.

i mined for the last years at eth low prices and a week ago i sold most of my eth.
now i will probably will do the same again.
sold a 3070 for a ridiculous price last night as well.  I wanted to finally take a profit

it depends how much electricity that gpu uses to get 31mhs, the idea now is to sell as fast as possible cause there is no clear sign this will continue, wait a dead cat bounce then sell. I do have some altcoins that I forgot to sell, I'm waiting a bulltrap to sell them high, my main coins I sold at top.

I bought my gpus for 400$ and they produce 31MH each, hope I'm on the safe side? 120 to 150 days is all I need to recover my most ROI, it's definitely going to be a disaster if bear season really kicks in right now

noone will sell shit. supply squeeze will continue, fiat currencies are being deflated like never before, btc is being correctly perceived as the store of value by too many already...

guys I think you are dead wrong about btc. the bull market started around 14.5K, we need to go below 22-20 to invalidate. 100K this year is almost guaranteed;)
but we will see.

You know how the markets are. Most traders usually lose 99% of the time. People think it can easily go to >$100K however what is going to be the sentiment if all of a sudden MtGox coins are released? Tesla sells their $31K buy at $62K? Microstrategy starts to offload their BTC? Sentiment will shift very quickly on that news.

I think if a bear market starts there are 3 areas to watch for.

First is the ~$33K area, I think this is where most of the latest retail fomo entered. Next area is $19K this is where the second last wave of retail fomo entered. The volume profile can prove this.

So there is a good chance that either $33K will be the low or $19-20K? However what about the people who bought at $10K back in second half of 2029? I think the market will come back to those also. I think in a few months this is also were the 200WMA will be.

So this is why I agree with Metroid's targets between $10-20K. I think those will be very good areas to buy into bitcoin if you've sold and cold storage those bitcoins for years.

Yeah they dont buy when it low but they will when is high, big mistake, I guess they will have to learn the hard way.

@Metroid i agree with
There is lot people doing that again.i can give example: I used to have friend now he is not talking to me anymore why i will tell you. in begin 2019 he asked for help in mining. I found rig with 10x1070 for 2k i said it is good price and he bought it. after 1 month he said it is bullsht and giving very low money.he said i lost 2k was angry at me and blaming, left sold whole rig for same price.
Now 6-7days ago he is calling and saying going to buy 4x rtx 3070 (each 1400$) i said i dont know do whatever you want.then he said he bought it. So there is many people like that.

If you bought 3080 for less or equal than 1k or 3060/3070 for less or equal than 800 usd then you will be fine, people buying 3060/3070 for 1400 usd and 3080 for 1800 usd or 3090 for 3k then they will be hurt pretty bad.

I hope this won't happen, I just start mining January 2021 with my new graphic cards, I've not even make half ROI back yet, this will break me if bear market starts this soon, I was expecting something around June or July, though I have free electricity since I'm using green energy but I have my targets

Buying gpus right now at these high prices is as gamble as buying coins right now, know why? as we have the bullrun where people accumulate coins, miners also accumulate gpus, see my point, so miners dont sell gpus, when everything crashes, miners know their gpus will also crash to less than msrp prices, i mean 3080 right now for 1800 usd will crash to sub 500 usd, i'm not joking, this happened in 2018 and it will happen again plus there are many miners which only mine on bullruns and once the bullrun ends they run to sell their gpus as fast as possible, the market will be inflated with cheap gpus just like 2018.

I'm not a miner, yes I purchased 2 evga ftw3 rtx 3080 for 1k each and I'm mining with them but the idea here is to stay with one and to sell the other one. I bought the 3080 with the intention of gaming not mining, not bad mining with it right now.

Also my calculations are a representation of past events based in history, in 2011 with bitcoin then in 2014 with litecoin, in 2018 with eth and now 2021 with eth again. This does not mean it will happen again but it has a great chance to history repeating itself and happening again.


Altcoins yes, not sure if this is a beartrap or the end already, need to watch out if btc falls below 32k, if yes then this might be the end, if btc rebounds at 35k or 40k or even 32k then it still has a chance to go to 79k, no clear sign yet.

Looks like it is allready began to drop fast or not yet?

Your calculation is scary, if you knew all these already why even invest in graphic cards at all? It seems like I made a wrong decision buying graphic cards to mine when ROI may never come, all I need is just 100 days and I'm good

Well I do this for a living hehe, so yes reason I'm hardly wrong when comes to this. I got my midterm right, eth 1900 ~ 2100 usd and btc 57 ~ 59k, my bullrun ending term is eth 2500 ~ 2900 usd and btc 74 ~ 79k.

There is also a possibility this could end now and then return in 2 to 3 years, will see, I would not buy anything right now, altcoins have been crashing for the last 3 days and already have dropped in price quite a lot, not worth to sell altcoins at these prices, btc still good price to sell, it did not crash that much yet. If btc has to rebound then look at 40k or 35k, if it goes lower than those values then we are going back to 20k and beartraps to 10k or a bit lower 9.6k to fill that cme gap.