if you pay that much for power you are really better off just selling that GPU on eBay and just buy ETH directly.
After fees and taxes you won't net that much and are better off just buying ETH and holding.
Topic: I shut it down tonight boys. - page 6. (Read 5084 times)
Even when mining will be no more profitable for me, i wouldnt shut it down. So maybe you make no profit for some weeks, but do you instant sell your coins to pay your bills? When im mining, im holding everything i mine and sell it when the price is high. So when mining is not profitable, i just continue to mine and hold the coins. But when its really to much minus, i can recommend you, to buy cryptocurrencies for the money you would pay for the electricity cost of your mining rig.
By the look at the current price movement, I think you'll be waiting a more longer. Holding and waiting for the price to get back are for those who big investment, with the bloody market right now and we still don't know when it'll end, I think OP is making a good decision.
Agreed with. Money should be counted.
Even when mining will be no more profitable for me, i wouldnt shut it down. So maybe you make no profit for some weeks, but do you instant sell your coins to pay your bills? When im mining, im holding everything i mine and sell it when the price is high. So when mining is not profitable, i just continue to mine and hold the coins. But when its really to much minus, i can recommend you, to buy cryptocurrencies for the money you would pay for the electricity cost of your mining rig.
By the look at the current price movement, I think you'll be waiting a more longer. Holding and waiting for the price to get back are for those who big investment, with the bloody market right now and we still don't know when it'll end, I think OP is making a good decision.
Even when mining will be no more profitable for me, i wouldnt shut it down. So maybe you make no profit for some weeks, but do you instant sell your coins to pay your bills? When im mining, im holding everything i mine and sell it when the price is high. So when mining is not profitable, i just continue to mine and hold the coins. But when its really to much minus, i can recommend you, to buy cryptocurrencies for the money you would pay for the electricity cost of your mining rig.
That's right, agree with this. Of course if your farm is fully automative and do not requires some time for tuning and support. Otherwise it's better to shut it down right now than still get such profits and waste such time.
There is no connection in coin price rising and mining.
Coin price is one of the 2 PRIMARY factors in mining profitability.
Electric cost is the other one.
And GPU costs is the third
But I was talking about different things.Only current coin price is matter. Is mining profitable or not.
Some said about mining into the long time box - it is a bullshit. If current prices low - it is better to buy coins instead of mining them.
If current prices are high - it's better to mine.
It's just simple for me.
yes by logical wise point of view there is nothing wrong with it
Unless the miner is cash rich and can afford to substain paying off bills and investment cost and sell when the coins price goes up (more of investment)
For other miners whom need to get rid of coins to pay off bills etc, it might not be good for everyone
Yep, that's it. And we are talking here about miners having another income. Those who not are obliged to sell all they mine now to pay the bills and buy some food for eating. They could not wait for their mined coins price increasing
Even when mining will be no more profitable for me, i wouldnt shut it down. So maybe you make no profit for some weeks, but do you instant sell your coins to pay your bills? When im mining, im holding everything i mine and sell it when the price is high. So when mining is not profitable, i just continue to mine and hold the coins. But when its really to much minus, i can recommend you, to buy cryptocurrencies for the money you would pay for the electricity cost of your mining rig.
What's your hash rate?
Even at $0.2 kW/h the most expensive electrcity in the world I can still gain a tiny profit mining ETH.
Even at $0.2 kW/h the most expensive electrcity in the world I can still gain a tiny profit mining ETH.
As i said earlier, one can get now $0.4 earning per the very good GPU card (let's name it 1070) a day on ETH paying $0.1 for electricity. It's a huge profit for one i suggest, you can purchase all ya want on it. Ya will have still THE PROFIT as much as $0.07 per the very good GPU card in a day if your electricity costs $0.2
Good for ya.
But if ya owned a bit older GPU's - ya know - it's a total fresh losses instead of earnings from it.
What's your hash rate?
Even at $0.2 kW/h the most expensive electrcity in the world I can still gain a tiny profit mining ETH.
Even at $0.2 kW/h the most expensive electrcity in the world I can still gain a tiny profit mining ETH.
My little hobby rig cannot find a coin to mine thats profitable. Even with $0.06kWh electricity Im losing money from this point on.
https://www.youtube.com/watch?v=JSUIQgEVDM4
Lol, I clicked the youtube link hoping that it might be a documentation of your rig or your calculations, thinking you might gone wrong.https://www.youtube.com/watch?v=JSUIQgEVDM4
Anyways, this video might help you: https://www.youtube.com/watch?v=dQw4w9WgXcQ
Shhhhh DONT TELL THEM THE SECRET 
The secret is, buy an ASIC.Bitmain E3 isn't shipping 'till Mid-July - and is about the SAME specs (180 Mhash at 800 watts) as a well-tuned 6-card AMD RX 480/580 rig, and INFERIOR in performance to a well-tuned Nvidia GTX 1070 6-card rig (186+ Mhash at 700-750 watts).
Only thing it has going for it is the LOW PRICE.
Apparently the rumours about a "F3" unit were incorrect, as was that one published video - or the "F3" isn't an ETH mining unit.
What's up with the limit of one per person?
It's their latest tactic of trying not to look like complete assholes. So, they privately mine, extract large amounts of value from a coin, sell a bunch of miners, then sell off their coins and crash the price. It keeps the price high during their sales and their units ROI looking great.
I know a lot of people speculate about that and I do believe it to be true. I mean, why wouldn't they do it? I think I've come full circle on my opinion of Bitmain at this point ... Really doesn't matter to them if they sell this unit at $800 or $400, because they've already accumulated enough income off of mining with them privately to sell at whatever price they can get. Jihan is a very smart man and I'm sure they carefully calculate the max price they can sell their used hardware at. Getting money out of the used hardware is just the icing on the cake for them, if they have been mining with them for months. You'd be doing it that way too, if it was your business that spent millions in R&D on something like that.
Jihan doesn't even care about crypto, from what I've heard. All that I've been hearing as of late is that he is using this as a catalyst into some really scary AI shit.
I would just build my own hardware and mine in secret. I wouldn't go and mine a bunch of coins, hold them, and artificially increase the price by hodl before launching a sale with artificially inflated ROI then destroy the price of a coin (and ROI with it) after collecting money from the miner sales. They pump and dump any time they launch miner sales. What they're doing would be considered deceptive trade practices, market manipulation, and would probably be illegal in more than a few locations.
There is no connection in coin price rising and mining.
Coin price is one of the 2 PRIMARY factors in mining profitability.
Electric cost is the other one.
And GPU costs is the third
But I was talking about different things.Only current coin price is matter. Is mining profitable or not.
Some said about mining into the long time box - it is a bullshit. If current prices low - it is better to buy coins instead of mining them.
If current prices are high - it's better to mine.
It's just simple for me.
yes by logical wise point of view there is nothing wrong with it
Unless the miner is cash rich and can afford to substain paying off bills and investment cost and sell when the coins price goes up (more of investment)
For other miners whom need to get rid of coins to pay off bills etc, it might not be good for everyone
Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies
Pennies per day? i guess even if is pennies per day per card you can say profitable, now we have to agree that is not worthwhile. Get a minimum wage job few hours per day is 100x more profitable than spending $450 on a rx 580 and earn pennies per day. Mining is only good if is worthwhile your time and money and right now is not.
Minimum wage job?
LOL ... I haven't worked a minimum wage job since I was 15 years old. My real job pays well enough to allow me to speculate on mining/trading/hodling crypto without forcing me to change the way that I live. I also don't spend a lot of time babying my mining farm. It's stable enough that it doesn't require constant babying. However, I do spend a lot of time researching. I would be doing that anyway whether I was mining, trading, or just buying to hold.Mining is not a speculation.
It's kinda hobby, time spending, money wasting - you name it.
Sure it is. I'm speculating that I will make money when the price of the coin rises.
There is no connection in coin price rising and mining. You gain profit if you bought chip coin and sell it after price increased.
You gain profit from mining if you sold mined coin, paid electricity bill, recouped you farm and earn somth after that
There is a lot of connection, if you're doing it correctly. Coin price rises. More people flock to mining, because they think their going to get rich quick (you probably did that), difficulty goes up as additional hashrate is introduced to the network, you receive less coin for mining, but price has increased, so it evens out. Next coin price drops, you are pissy about mining ... LOL.
Also, coin price and mining ... I mine, hold, and sell when coin price is X3. My capital recovery time frame is reduced by a factor of three.
You and Digital Drug Lord should go get a room ... HEHE
No offence, but it looks like a bullshit.
Prices are high - you mine and sell coins.
Prices are low - you just buy coins. Do not complicate the simple things
There is no connection in coin price rising and mining.
Coin price is one of the 2 PRIMARY factors in mining profitability.
Electric cost is the other one.
And GPU costs is the third
But I was talking about different things.Only current coin price is matter. Is mining profitable or not.
Some said about mining into the long time box - it is a bullshit. If current prices low - it is better to buy coins instead of mining them.
If current prices are high - it's better to mine.
It's just simple for me.
There is no connection in coin price rising and mining.
Coin price is one of the 2 PRIMARY factors in mining profitability.
Electric cost is the other one.
Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies
Pennies per day? i guess even if is pennies per day per card you can say profitable, now we have to agree that is not worthwhile. Get a minimum wage job few hours per day is 100x more profitable than spending $450 on a rx 580 and earn pennies per day. Mining is only good if is worthwhile your time and money and right now is not.
Minimum wage job?
LOL ... I haven't worked a minimum wage job since I was 15 years old. My real job pays well enough to allow me to speculate on mining/trading/hodling crypto without forcing me to change the way that I live. I also don't spend a lot of time babying my mining farm. It's stable enough that it doesn't require constant babying. However, I do spend a lot of time researching. I would be doing that anyway whether I was mining, trading, or just buying to hold.Mining is not a speculation.
It's kinda hobby, time spending, money wasting - you name it.
Sure it is. I'm speculating that I will make money when the price of the coin rises.
There is no connection in coin price rising and mining. You gain profit if you bought chip coin and sell it after price increased.
You gain profit from mining if you sold mined coin, paid electricity bill, recouped you farm and earn somth after that
There is a lot of connection, if you're doing it correctly. Coin price rises. More people flock to mining, because they think their going to get rich quick (you probably did that), difficulty goes up as additional hashrate is introduced to the network, you receive less coin for mining, but price has increased, so it evens out. Next coin price drops, you are pissy about mining ... LOL.
Also, coin price and mining ... I mine, hold, and sell when coin price is X3. My capital recovery time frame is reduced by a factor of three.
You and Digital Drug Lord should go get a room ... HEHE
Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies
Pennies per day? i guess even if is pennies per day per card you can say profitable, now we have to agree that is not worthwhile. Get a minimum wage job few hours per day is 100x more profitable than spending $450 on a rx 580 and earn pennies per day. Mining is only good if is worthwhile your time and money and right now is not.
Minimum wage job?
LOL ... I haven't worked a minimum wage job since I was 15 years old. My real job pays well enough to allow me to speculate on mining/trading/hodling crypto without forcing me to change the way that I live. I also don't spend a lot of time babying my mining farm. It's stable enough that it doesn't require constant babying. However, I do spend a lot of time researching. I would be doing that anyway whether I was mining, trading, or just buying to hold.Mining is not a speculation.
It's kinda hobby, time spending, money wasting - you name it.
Sure it is. I'm speculating that I will make money when the price of the coin rises.
There is no connection in coin price rising and mining. You gain profit if you bought chip coin and sell it after price increased.
You gain profit from mining if you sold mined coin, paid electricity bill, recouped you farm and earn somth after that
Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies
Pennies per day? i guess even if is pennies per day per card you can say profitable, now we have to agree that is not worthwhile. Get a minimum wage job few hours per day is 100x more profitable than spending $450 on a rx 580 and earn pennies per day. Mining is only good if is worthwhile your time and money and right now is not.
Minimum wage job?
LOL ... I haven't worked a minimum wage job since I was 15 years old. My real job pays well enough to allow me to speculate on mining/trading/hodling crypto without forcing me to change the way that I live. I also don't spend a lot of time babying my mining farm. It's stable enough that it doesn't require constant babying. However, I do spend a lot of time researching. I would be doing that anyway whether I was mining, trading, or just buying to hold.Mining is not a speculation.
It's kinda hobby, time spending, money wasting - you name it.
Sure it is. I'm speculating that I will make money when the price of the coin rises.
Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies
Pennies per day? i guess even if is pennies per day per card you can say profitable, now we have to agree that is not worthwhile. Get a minimum wage job few hours per day is 100x more profitable than spending $450 on a rx 580 and earn pennies per day. Mining is only good if is worthwhile your time and money and right now is not.
Minimum wage job?
LOL ... I haven't worked a minimum wage job since I was 15 years old. My real job pays well enough to allow me to speculate on mining/trading/hodling crypto without forcing me to change the way that I live. I also don't spend a lot of time babying my mining farm. It's stable enough that it doesn't require constant babying. However, I do spend a lot of time researching. I would be doing that anyway whether I was mining, trading, or just buying to hold.Mining is not a speculation.
It's kinda hobby, time spending, money wasting - you name it.
Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies
Pennies per day? i guess even if is pennies per day per card you can say profitable, now we have to agree that is not worthwhile. Get a minimum wage job few hours per day is 100x more profitable than spending $450 on a rx 580 and earn pennies per day. Mining is only good if is worthwhile your time and money and right now is not.
Minimum wage job?
LOL ... I haven't worked a minimum wage job since I was 15 years old. My real job pays well enough to allow me to speculate on mining/trading/hodling crypto without forcing me to change the way that I live. I also don't spend a lot of time babying my mining farm. It's stable enough that it doesn't require constant babying. However, I do spend a lot of time researching. I would be doing that anyway whether I was mining, trading, or just buying to hold.
The problem here is everyone is so focused on the current situation. Do you really believe that ETH will not recover? Don't be like all the sheeps who will turn off their rig (or be one i don't care and would be happier with less difficulty). Just like the saying goes, "be greedy when everyone is fearful."
Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies
Pennies per day? i guess even if is pennies per day per card you can say profitable, now we have to agree that is not worthwhile. Get a minimum wage job few hours per day is 100x more profitable than spending $450 on a rx 580 and earn pennies per day. Mining is only good if is worthwhile your time and money and right now is not.
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