Topic: Future mining plan revealed (Read 301 times)

You already have 400MH? If I were you I'd keep mining with that hash power and keep changing to stable coin, it's like BTC will go over 50k and this will bring more values for altcoins, just keep mining and storing ETH/BTC wait till bear market to buy GPUs

at this very moment, dont buy gpus at 2x msrp, when altseason arround the corner, better to buy coin from your profit, switch to btc before november, wait till bear market, buy used gpus when miners dumpt their stuff

Keep mining, with the way things are going now we might witness good mining week again, my advice is convert your ETH to USDT and wait patiently for bear market then invest half of that money into cheap GPUs

He has FOUR 3080's guys....

I would not buy Gpu-s right now and I would wait for the bear market to buy a rather big quantity of them in order to achieve that 1Ghsh you are planning to get.The price of the coins are relatively high now and I would convert half of the mined coins into cash and the other half in Bitcoin.Of course when the bear market comes I would buy Gpu-s with the cash money and hold Bitcoin for better days.

I think you need to invest more rationally.
Some of the coins are hold.
You spend part of the coins on the purchase of new video cards.
You sell some of the coins when you think they are very expensive and can be invested in new or old undervalued projects.
Besides BTC, I would also invest in other coins.

It's been months back that many have been warning us to stop buying GPUs and yet those to took the bull by its horn almost get their ROI back now, the fact is nobody knows when mining profitability will go lower like 2019 again so keep mining with what you have now and take advantage of this bull trend then exchange to USDC, if bear market comes you will be fine and if not then it's even better

Yea whatever I'm mining right now is been turned into USDT, I plan to start holding once bear market kicked in, I'm not in any rush of any kind I'm in for a long term, I just want a better future with crypto is all, thanks for replying I will aid your advice

Bear market advantage is full accumulation either buying or mining, the reason why many miners don't get rich later is they can't keep up in bear market probably because the gains disgust them or their electricity bill is high, in your case things looks good with free electricity, keep gathering BTC and ETH for 2025 sake

What you can do is sell your coins high right now for usdc then keep the usdc to cover the bear market in case positive gains become negative gains, in your case mining is better than buying coins even in the bear market. Do not buy gpus right now, as eth price keep going up, keep selling in 2 week to 2 weeks basis. You can sell your gpus high right when there is a huge crash, usually takes time for gpus prices to crash, you will have enough time to sell your gpus high then after the gpus crash a lot then buy back with the money you saved during the bull market.

On the bear market, do not sell your coins, even if they crash a lot more, keep, that is usually a beartrap for them to buy coins cheaper, there are many beartraps in the bearmarket, good luck.

I felt weak 😅 hearing that a 1GH hashing power is just like a 4 rigs lol only God knows how many gigahash power you have on Ethereum mining right now, cut me some slacks mate I am just a newbie in crypto space mining with 500MH on ETH lol.

With free electricity mining will become easier even in bear market and I just get this feeling that BTC is more important than gold right now so it will maintain good value still meaning that altcoin mining won't be that bad

1GH is like 4 Rigs of possibly the most entry level mining GPU, you cant really call one wireframe shelving unit a farm. Also you have free elect, Idk what you are worried about? Get both feet in it.

Just do it, I believe you understand things more than people around you, some tried to talk me out of many things in the past and those things all worked for me, some times you see things more clearer than people around you.

I started with one GPU and now I have over 10 GPUs, bear market is the only scary thing about crypto mining but with free electricity there is nothing to be worried about anymore, my advice is don't just keep buying cards with your earned money, try swapping to stable coins and always use half of your earnings to upgrade

This person lacks patience, he is probably one of those who taught crypto is dead in 2018-2019, there are few people who have farms and still mine in those bear market and today they are richer, in 2020 ETH is piece of cake, as holding even 20 ETH at that time won't mean anything much to you but today it's another thing entirely

Electricity bill is why it becomes very hard to keep mining in bear season since you have free electricity I don't see any reason to keep asking this question, just keep mining sooner or later you will eventually make back your ROI and use part of that to buy more GPUs

is your free electricity guaranteed to last for years? if that's the case, i don't see why you need to think so much about it. unless it will stop at some point, then you don't really need to think about cost that much imo. i'd rather do 2 though, so i can buy more gpus at cheaper prices instead of buying now.

So why you asking then when you have free electricity it should be making nothing , just keep mining .
With free electricity you will make your return at the some time.
I would instant starting my L3+ miners again if i have free electricity , but electricity in germany is expensive as hell.
Dont know what miners you have but with free electricity some Asics would be nice.

didn't hang out in litecointalk, were are jumping shitcoins here at bitcointalk LOL.

he could have made it if he has the dough to stick just a little bit longer 

Back in 2014 there was a forum called Litecointalk. Basically like Bitcointalk except for Litecoin. There was a very popular and long thread there called "My huge mining farm". (or something of similar name).

Some guy started to mine in late 2013 litecoins with GPUs. He started with 1 GPU, and made a profit and was like "Wow, if I had another GPU, I would make twice the profit". So he got another GPU, then another, then another, then he had an entire rig. Then a month later, he got another rig, then another. Then he was mining with like 30-50 GPUs in his garage.

I think he earned like $5/day/GPU. So he was netting like $250 a day however he would mine Dogecoin OR some new POW coin and there were days when he made like $500+. He quit his job and everything.

Then he wanted more...

He basically was reinvesting all his profits and kept buying more and more GPUs at slightly higher inflated GPU prices. Not only that I think he got his cousin or brother involved also by borrowing his money.

Then the bubble went pop.... in Nov 2013.

As each month went on the profitability was less and less. Basically each month the profits halved. So instead of $5/day/GPU, he made $2.50, then $1.25, then $0.62, etc, etc. Eventually it got to the point where he was breaking even with electricity and no point in mining. Issue was he maxed out his credit card and was being charged interest. So he had to sell his GPUs. He ended up selling many of his GPUs at very low prices on eBay, especially ones with damaged fans. He stopped replying on the board and no idea if he got out of crypto all together or not.

Maybe someone here remembers that guy....

you are such a pussy for someone who have free electricity 

@ Metroid @Philipma your attention is needed since you guys have been around for a very long time now, I have a plan that's been set in motion already since 2020, please kindly tell me if I'm right on track or off track

My plan is to have a 1gh mining farm

1. I'm presently at 400MH as we speak and I've made back my ROI from some of the cards I used to achieve this 400MH, what I want to do now is make back half of the ROI on the new cards I got and start taking profits even in bear market to buy back GPUs since they would be cheaper in bear market

2. Or I should just keep mining for now and taking profits then when bear market starts I should start holding my coins instead, probably in BTC

I have free electricity and solar energy set up, this is 100% covered so you don't need to give answers on electricity consumption, also this is why dream I'm not doing this for quick return of investment, it's what I intend to keep alive for a long time