Topic: I shut it down tonight boys. - page 7. (Read 5084 times)

Sorry to hear that.  It will be profitable again at some point in the future.  While waiting you could run some staking coins or even some Masternodes.  This is a great way to earn coins with running hardware, other than your PC. 

 There are lots of staking coins out there.  I would avoid the ones that have a high ROI as they seem to tank in value very quick.  Low ROI coins won't give you much unless you hold mass amounts.  There is a sweet spot (at least for me) that caps out around 300%

  Some good examples, from highest ROI to lowest -

Platinum Bar (XPTX) - 230% interest!
Condensate (RAIN) - 200% interest!
Castle Airdrop Platform (CSTL) - 100% interest!
Inflation Coin (IFLT) - 72% Interest.

None of these are guaranteed to go anywhere, but each one has something going for it!

It's not a low price for ASIC. It's still hipe price for GPU. Feel the difference.

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

I'm curious about OP's decision after a few pages discussion. And I found it on the third page. Seems like OP's rig has turn-on back. Cheers OP  

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It's bad for hardware that worked hard to rest for too long my friend
80% chance your mobo will fail next time you turn it on back to mining

I'll give you bottom dollar for them. 

my 10 gpus are off and have been off for almost two weeks now. I don't regret it even once, because of many reasons.

1º i'm not a holder. If you are a holder mining, you are actually a moron. (though i can accept miners who mine , expecting the price to increase and sell to recover electricity bill + profit)

2º at 0,18$/Kwh, the profit per card is 0,18€/day. That's a no go for the vast amount of miners.

3º if you don't mine, you´ll not ROI ever, that's true, but considering the situation of the market, you can expect to be like months paying your electricity bill without a single € of profit, which is not what it was intended when i bought all my equipment.

4º nowadays, buying coins is far more profitable than mining. and if you know how to trade coins, (so you are a bear right now), you can get almost 5-10% profit almost everyday if you are a good one.

5º long term investment is the most risky situation you can imagine, because on the hypothetical situation of considering the market to increase, the only thing you can do is trust blindly on crypto. Because, nowadays, there is no argument, data, clue, information or technical analysis that can make you believe that that is gonna happen.

Mining nowadays is just assuming losses, that's why i will continue to keep my gpu's off.

Just got an email overnight - they upped it to 5.  They are shady as all hell.

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. 

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.

What's up with the limit of one per person?

Keep looking

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.

Rig:
HD 6950 1GB - 200H/sec Cryptonight, 180KH/sec Neoscrypt
R9 270X 2GB - 440H/sec Cryptonight, 535KH/sec Neoscrypt, 180sols/sec Equihash.

Gaming PC:
AMD FX 8320 - 380H/sec Cryptonight.
RX 580 8GB -  690H/sec Cryptonight, 1032KH/sec Neoscrypt, 330sols/sec Equihash, 19.2 MH/sec Ethash.

Not very, but just be not the newest. Thus 1070 is still a bit profitable with $0.1 kwh electricity, but
1050 and 460 will generate only losses now. They  are not obsolete  at all. But they are not the newest

I am continue mining because i have other income.
I still mine ETN and i dont know how profitable is at the moment, researching more profitable coins pain for me, with this red digits

I don't pay rent for facility, because my mining rigs are in a space in my home (which is tax deductible) ... My electricity cost is 0.10kwh.  If I hit a threshold, it comes down a little.  Maybe 1-2 cents per kwh.  You pay taxes on earned income, as if you were self employed.  Your mining room is a deduction, your hardware costs are a deduction, your electricity is a deduction. 

I posted this in another thread, and I will post it again ...

"I don't know how to tell you this, but you are insanely wrong with part of that.  With the 31 gpu's that I have, I mined various coins and traded for btc in the month of March.  In the month of March, I ended up with 0.18337303 BTC.  If I converted to fiat right now that would equate to $1315.70USD.  My electrical costs (rigs and ventilation) for the month were approx $400USD.  Do the math and tell me that isn't profit.

I bought my gpu's last year at reasonable prices, not much over MSRP.  Not all, but a large portion of my rigs are paid for, if I converted to fiat right now.  I'm not converting to fiat at today's btc price (not even to cover electrical costs).  I'm placing a bet and waiting.  I'm not advocating that someone go out and pay insane gpu prices right now and start building a farm.  But do not tell me that gpu mining (in my situation) is not profitable.  Lol ... It would be insane for me to shut down my rigs right now and sell everything today."

Are you including rent for the facility and taxes for the gains earned?  After adding these you should be rekt in earnings. anybody could make a few cents per day after mining and brag they still profiting..  Such bums! LOL

At least we agree on something ... LOL.

buying rather than mining... maybe that's the clue for nowdays....