How bad can it get? - page 7. | Bitcointalksearch.org

MidNite36

member

Activity: 208

Merit: 10

Quote from: Coinfarm ventures on May 29, 2022, 02:15:37 AM

Quote from: adaseb on May 28, 2022, 11:30:52 PM

With 2018 and Ethereum mining I remember making exactly $0.00 per day with my 470 GPUs with like 8-10 cent power

If you had RX 470 cards you were stuck with ETH, but GeForce cards could mine coins that were much more profitable like GRIN or RVN. In early 2019 I remember getting $0.70/day of GRIN revenue, paying $0.25 for power, and pocketing $0.45 of profit on each of my GTX 1060 6GB video cards. That rig made a killing eventually.

This is why I prefer NGreedia over AMD: they are still better at alternative coins than Radeon. They have better gaming brand value. I will buy Radeon cards if I can get them at a good discount, but I stick to the RTX 3060/3060 Ti series in particular.

Let's assume one mined during the 2019-2020 bear market with a GTX 1060 6G rig which they bought for $170 per card ($130 each for the actual GPUs). At 9¢ power, the ROI would've been 20-40% per year. When the bull market returned, not only did their rig double in value, but the rig made a 300%+ ROI in 2021. The total ROI from 2019-2021 was 500% or so. So buying video cards cheaply seems to be very important.

Why are you calling Nvidia NGreedia? If what you are referring to is Nvidia been greedy then why is the company still your favourite? Lol 😆, I like the idea of buying graphic cards at the cheapest rate but it's all for the long term haul, you have that spirit in you that's why you are able to see things this way, those who rushed to build rigs cares about the present returns.

Coinfarm ventures

full member

Activity: 182

Merit: 152

Quote from: adaseb on May 28, 2022, 11:30:52 PM

With 2018 and Ethereum mining I remember making exactly $0.00 per day with my 470 GPUs with like 8-10 cent power

If you had RX 470 cards you were stuck with ETH, but GeForce cards could mine coins that were much more profitable like GRIN or RVN. In early 2019 I remember getting $0.70/day of GRIN revenue, paying $0.25 for power, and pocketing $0.45 of profit on each of my GTX 1060 6GB video cards. That rig made a killing eventually.

This is why I prefer NGreedia over AMD: they are still better at alternative coins than Radeon. They have better gaming brand value. I will buy Radeon cards if I can get them at a good discount, but I stick to the RTX 3060/3060 Ti series in particular.

Let's assume one mined during the 2019-2020 bear market with a GTX 1060 6G rig which they bought for $170 per card ($130 each for the actual GPUs). At 9¢ power, the ROI would've been 20-40% per year. When the bull market returned, not only did their rig double in value, but the rig made a 300%+ ROI in 2021. The total ROI from 2019-2021 was 500% or so. So buying video cards cheaply seems to be very important.

adaseb

legendary

Activity: 3738

Merit: 1708

From what I remember with the 2015 and 2018 mining bear markets is that the profits were horrible if you were selling daily instead of holding the coins.

I think back in 2015 with ASICs with like 5kw of power you made like 0.05BTC a day. Sounds a lot however price was like $200 back then. So with 5000 watts, you net about $10 a day.

With 2018 and Ethereum mining I remember making exactly $0.00 per day with my 470 GPUs with like 8-10 cent power. There was also a period where earnings where negative.

MetaMii

member

Activity: 63

Merit: 12

Quote from: batsonxl on May 28, 2022, 06:47:46 AM

Quote from: MetaMii on May 28, 2022, 03:30:53 AM

Down the road into a bear market what can a new miner except from a 500MH mining farm? How incredibly bad can this get? 5$? 8$? Asking those who are here before in 2018 so I can know what's awaiting me.

No one will tell you how bad it can go and most important how long? It is better not look how bad it is Grin

just keep walking doing other jobs for couple of months.

So what's the best coin to keep mining in such bad market? I have almost free electricity and I don't want to turn off my mining rigs, what can I do at this point? I mean what's a better proof of work coin I can mine and hold for long term till bull market begins again.

batsonxl

member

Activity: 1196

Merit: 26

Quote from: MetaMii on May 28, 2022, 03:30:53 AM

Down the road into a bear market what can a new miner except from a 500MH mining farm? How incredibly bad can this get? 5$? 8$? Asking those who are here before in 2018 so I can know what's awaiting me.

No one will tell you how bad it can go and most important how long? It is better not look how bad it is Grin

just keep walking doing other jobs for couple of months.

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Quote from: MetaMii on May 28, 2022, 03:30:53 AM

Down the road into a bear market what can a new miner except from a 500MH mining farm? How incredibly bad can this get? 5$? 8$? Asking those who are here before in 2018 so I can know what's awaiting me.

This below is the best advice you can get, other than that, patient is key here, although this is still pre bear market, expect the worse when the time comes, for now btc below 20k is very possible 60% chance.

Quote from: Bitcoin_Arena on May 28, 2022, 03:52:00 AM

One good practice is not to sell coins you have mined during a bear market, instead wait for the bull market and rip big.

Bitcoin_Arena

copper member

Activity: 2030

Merit: 1788

฿itcoin for all, All for ฿itcoin.

Things were different back then, and things are going to be different today or tomorrow. We don't know how the net work hashrate will be, We don't know how far the coin prices will drop

You just have to be ready for anything and hope for the best. One good practice is not to sell coins you have mined during a bear market, instead wait for the bull market and rip big.

MetaMii

member

Activity: 63

Merit: 12

Down the road into a bear market what can a new miner except from a 500MH mining farm? How incredibly bad can this get? 5$? 8$? Asking those who are here before in 2018 so I can know what's awaiting me.

Topic: How bad can it get? - page 7. (Read 1742 times)