Topic: Here we go again (Read 301 times)
This is correct, I think the rightful way to put this whole thing is mining is only for those who have free electricity so through any weather they will be fine either 10$ per day turn 1$ per day they will be fine, but those who don't care about the dollar cost in bear market and keep mining and storing their coins end up becoming the real boss, talking from experience I have friend that embarked on the journey of mining ETH in 2018 and things turn around in 2020 the ETH became bigger in USDT value.
I think the reason why many new miners get burnt is because they have no idea what the concept of "difficulty" is. I had this problem when I started mining in 2014. Bitcoin back then was like $1000 and I understood that if it goes to $900, I will make around 10% less money and I was fine with that and kept buying GPUs.
However I didn't realise that there is difficulty and that also kept going up, while price kept going down. I remember having a bunch of expensive R9 280X GPUs and I went from making $10/day/GPU in Dec 2013, to $5/day in Jan 2014, to $2.5/day in Feb, to $1.25March to pretty much breaking even with electricity. And price didn't halve every month. It was the difficulty which kept going up way too fast.
However I didn't realise that there is difficulty and that also kept going up, while price kept going down. I remember having a bunch of expensive R9 280X GPUs and I went from making $10/day/GPU in Dec 2013, to $5/day in Jan 2014, to $2.5/day in Feb, to $1.25March to pretty much breaking even with electricity. And price didn't halve every month. It was the difficulty which kept going up way too fast.
I keep saying that and they think I'm lying to them ehhe, trolls will always be trolls. I guess their calculations are flawed as their brains.
I'd keep mining even in bear market no matter what, the advantage of mining in bear market is getting your hands on more quantities of the coins, mining difficulty will be lower than ever because many won't be able to keep mining in bear market
I think the reason why many new miners get burnt is because they have no idea what the concept of "difficulty" is. I had this problem when I started mining in 2014. Bitcoin back then was like $1000 and I understood that if it goes to $900, I will make around 10% less money and I was fine with that and kept buying GPUs.
However I didn't realise that there is difficulty and that also kept going up, while price kept going down. I remember having a bunch of expensive R9 280X GPUs and I went from making $10/day/GPU in Dec 2013, to $5/day in Jan 2014, to $2.5/day in Feb, to $1.25March to pretty much breaking even with electricity. And price didn't halve every month. It was the difficulty which kept going up way too fast.
However I didn't realise that there is difficulty and that also kept going up, while price kept going down. I remember having a bunch of expensive R9 280X GPUs and I went from making $10/day/GPU in Dec 2013, to $5/day in Jan 2014, to $2.5/day in Feb, to $1.25March to pretty much breaking even with electricity. And price didn't halve every month. It was the difficulty which kept going up way too fast.
Lol, you can not expect high returns forever it will correct and blowout the weak hands. Look at the history of mining boom followed by bust, you probably got in at the top.
Yeah, I guess is hard for them to accept the truth, they think everything will go up forever till is not going up anymore and then fear consumes their whole bodies hehe, buying at top is what they most like and yet they expect it to keep still going up hehe, cryptomarket since 2011 has always worked in cycles, playing both sides is the best way to succeed here, trolls never learn, sheeps will always be eaten, wild west of all markets.
Lol, you can not expect high returns forever it will correct and blowout the weak hands. Look at the history of mining boom followed by bust, you probably got in at the top.
That being said no one knows the future keep mining until your electricity is more then the coins your mine. I've been mining 135 GPUs since 2016 and plan on stopping when I stop making profit, I try not to waste time trying to predict the markets. Just don't make any life altering financial choices and you'll be fine. If I sold everything in 2018-2019 I would have missed out on hundreds of thousands dollars of profit. I always took a percentage of coins mined and bought btc ant-miners / gpus or left the my profits in btc.
That being said no one knows the future keep mining until your electricity is more then the coins your mine. I've been mining 135 GPUs since 2016 and plan on stopping when I stop making profit, I try not to waste time trying to predict the markets. Just don't make any life altering financial choices and you'll be fine. If I sold everything in 2018-2019 I would have missed out on hundreds of thousands dollars of profit. I always took a percentage of coins mined and bought btc ant-miners / gpus or left the my profits in btc.
Well, if you afraid, quit mining until you can 
adoption rate is better than past years, if bears should come I won't expect them to last longer like 208/2019
There are limits how long sheeps can keep buying cryptocoins, wolves are not silly, they know coins had a huge increase and 99.9% coins are hugely overpriced, every time the bear market is close I tend to hear this and everytime the outcome is exactly the same as it was last cycle. The truth nobody wants to talk about is that there are too many bagholders and those bagholders will dump it all if they see first sign of weakness and manipulators know that and will always spread fear at sheeps and they end up dumping all their coins and yeah they will not sell now, they will sell when coins crash more than 90%, heavily manipulated market. Anyway, this is not time to panic yet, things take time to happen, many small traps yet and a big one in 8 weeks or so.
Bear market is certain but should not be compared to 2018 bear market, many of you on here don't even believe in crypto at the time but now things are more plain and exciting, volatility can't be erased I accept but adoption rate is better than past years, if bears should come I won't expect them to last longer like 208/2019
Miners are on borrowed time from now on, you should be getting prepared for the upcoming bear market and there is no way to avoid it, for once please forget about huge adoptions it's a trap, adopters whoever they are knows what they are doing, they will all dump at one point and buy back when crashes is inevitable
I sold at 4600 but little. we never know what will happen. anyway i will keep my coins for long period i dont care what happens.
I had my sell order at 4989, it got as high as 4870 usd, sad. Now at 3k, kind feels bad selling this low but looking ahead on how much eth can crash and that could be 250 to 500 usd, will be even worse but that is how crypto is, dont sell now, it will only keep crashing and crashing till the bottom is found but like I said before, this could be a re-accumulation and then last bulltrap then hehell.
Yeah I had this dilemma back in 2018 with ETH. Most don't remember but it topped at $1400 back in 2018. And then we all assumed it would go to like $5000. However within a short period it was below $1000. Then it went to like $1200, people assumed that it was the dip and it would go higher. However it went below $1000 again.
And this time people wanted to sell at $1000, however if you look at the charts it never went to $1000 again until years later. It went to like $980. Basically the orders got front-run and all the shorters and whales all got in before $1000.
Then it just kept going lower and lower and lower. Same thing is happening now. So it'll either reverse soon, or it will keep going lower and it'll go to like $2000 and we will want to sell at $3000 but it will never go to $3000 again, until years later. That or it'll go to $7000 when we are all bearish.
That's sad. Judge from how Bitcoin and ETH have been slowly dropping, I think we are already staring at a bear market in the eye. The $3k price that seem unattractive today might look like a good price a couple of months from now when we are down to $2k or even $1K.
So don't wait too long.
So don't wait too long.
Yeah, I'm thinking about that, I'm sure they will create a last bulltrap, just like march 2018 and will sell on that.
I had my sell order at 4989, it got as high as 4870 usd, sad. Now at 3k, kind feels bad selling this low but looking ahead on how much eth can crash and that could be 250 to 500 usd, will be even worse but that is how crypto is, dont sell now, it will only keep crashing and crashing till the bottom is found but like I said before, this could be a re-accumulation and then last bulltrap then hehell.
That's sad. Judge from how Bitcoin and ETH have been slowly dropping, I think we are already staring at a bear market in the eye. The $3k price that seem unattractive today might look like a good price a couple of months from now when we are down to $2k or even $1K.So don't wait too long.
From March 2021 up until now I made 1.7 Ethereum and I am holding it together with my friend/partner but lately I have changed the mining pool,I have switched to 2miners pool as they pay me in Bitcoin.I am looking to collect and hold as much Bitcoin as possible,I only believe in Bitcoin starting from 2022.The year we left behind was good for Ethereum but I doubt it will be the same during this year so I have made this move in order to fight the falling price of Ethereum.
I believe the long run recovery of Bitcoin will be huge so I am playing everything according to this feeling.
I believe the long run recovery of Bitcoin will be huge so I am playing everything according to this feeling.
3000$ per ETH is still good for mining profitability presently, I will start holding my ETH if ETH goes below 3k, other coins like ravencoin ergo TON will be affected too so holding for long term will be the best idea
Every miner should be prepared to moments of rise and fall, even crashes
A good plan is the key to keep mining for long time or to gain more money in the long term
We probably have the same hashrate, 410 to 420 Mhs, because I was earning something like 25 USD a day, but now it's 18-19USD, not 16 USD, I'm mining on Ethermine
There's nothing guaranteed here, and even the best ones here can't predict the future, we can crash even harder quickly, we can stay in this fall for months, ETH can reach 100, 200, 500 USD again, market can do this sideway for long time, or we can see a new pump to ATH again
See, everything is possible, and it's important to have a plan
A generic and good plan, in my opinion is:
Sell some percentage in the rise
I sold some pieces at 4k to 4.6k USD - I saved this money to pay my cards, electricity and to save some
Change small portion to BTC
Save some USD to pay for electricity for 3 or 5 months if needed in a crash
I think this is important, because prices can crash and you can keep mining to see if prices will rise again
If price crashes, don't sell anything
If prices are like this, 3k USD is good enough to have profit but not good to expand rigs, you can sell something like 30% daily or weekly
A good plan is the key to keep mining for long time or to gain more money in the long term
We probably have the same hashrate, 410 to 420 Mhs, because I was earning something like 25 USD a day, but now it's 18-19USD, not 16 USD, I'm mining on Ethermine
There's nothing guaranteed here, and even the best ones here can't predict the future, we can crash even harder quickly, we can stay in this fall for months, ETH can reach 100, 200, 500 USD again, market can do this sideway for long time, or we can see a new pump to ATH again
See, everything is possible, and it's important to have a plan
A generic and good plan, in my opinion is:
Sell some percentage in the rise
I sold some pieces at 4k to 4.6k USD - I saved this money to pay my cards, electricity and to save some
Change small portion to BTC
Save some USD to pay for electricity for 3 or 5 months if needed in a crash
I think this is important, because prices can crash and you can keep mining to see if prices will rise again
If price crashes, don't sell anything
If prices are like this, 3k USD is good enough to have profit but not good to expand rigs, you can sell something like 30% daily or weekly
I sold at 4600 but little. we never know what will happen. anyway i will keep my coins for long period i dont care what happens.
I had my sell order at 4989, it got as high as 4870 usd, sad. Now at 3k, kind feels bad selling this low but looking ahead on how much eth can crash and that could be 250 to 500 usd, will be even worse but that is how crypto is, dont sell now, it will only keep crashing and crashing till the bottom is found but like I said before, this could be a re-accumulation and then last bulltrap then hehell.
If this is not a re-accumulation then eth in September will be around 250 usd, if it is then expect around 4.5k - 7k then crash to 350 usd. You miners need to pay attention that if eth goes to pos in july then all locked eth will be released and then mass selling will happen, either way I only see a huge crashing coming. I'm expecting the last bulltrap to sell, I missed my chance to sell my eth when it was close to 5k, so selling now is tough, it could go lower yeah but I still believe a last bulltrap will happen, do not miss the chance to sell eth high, we all have seen what happened in 2018 hehe, anyway, it takes time for that.
I sold at 4600 but little. we never know what will happen. anyway i will keep my coins for long period i dont care what happens. 
Here we go, ETH is down to 3080$ today and it still looks like we will see dipper price per ETH if I say this ain't affecting mining profitability it's a big lie, what do you think ETH will go down to before a balance price comes in play? 2500$ 2000$ ?? I was earning 25$ per day now I'm at 16$ per day what do you think mining future will look like this year?
I do not recommend that you buy new graphics cards. After the end of Ethereum mining in GPU mining, the profit will greatly decrease, and your current profit of $ 16 per day will be an unattainable result for you. When the prices of video cards fall dramatically, then you can think about updating the mining farms. either way I only see a huge crashing coming.
Absolutely agree.
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