I Turned My Rigs Off... - page 5. | Bitcointalksearch.org

adaseb

legendary

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Quote from: mak013 on May 07, 2019, 02:08:06 AM

Quote from: Rtalk on May 06, 2019, 07:49:32 AM

Now mining on graphics cards to me does not bring virtually anything.I'm talking about home mining which consists of several graphics cards.Competition from ASIC-devices is growing stronger,so I will just keep an eye on the situation on the market and if it starts to improve-I think mining will again begin to generate income.

It`s the same as to say working at home does not give me profit. Competition with the plants is growing stronger. Etc.
Mining is a work! If you want to get money for doing nothing - panhandle is your choice.

Mining isn't really considered getting money for doing nothing. You need to invest in the hardware and maintain it, doing nothing would not involve any investment what-so-ever time and money wise.

The issue with mining is however that with the crypto boom in 2017, many people discovered mining and the competition became fierce. Many gamers actually started to mine since they already owned the rigs.

So like with most businesses that are too profitable, competition hits them fast and the profits start to dwindle, its like this in most industries. My advice is to just sit and wait and ProgPOW might be launched and we might hit new ATH with a few alt coins and the days of $1/day/gpu might be back again.

mak013

hero member

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Quote from: Rtalk on May 06, 2019, 07:49:32 AM

Now mining on graphics cards to me does not bring virtually anything.I'm talking about home mining which consists of several graphics cards.Competition from ASIC-devices is growing stronger,so I will just keep an eye on the situation on the market and if it starts to improve-I think mining will again begin to generate income.

It`s the same as to say working at home does not give me profit. Competition with the plants is growing stronger. Etc.
Mining is a work! If you want to get money for doing nothing - panhandle is your choice.

fortunecrypto

legendary

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Well same thing happen to me I'm mining using application from folding@home my computer really heats up and my computer keeps lagging, you cannot use your computer and at the same time mining with GPU it will generate a lot of heat and could make your computer breakdown.

Indamuck

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Quote from: Rtalk on May 06, 2019, 07:49:32 AM

Now mining on graphics cards to me does not bring virtually anything.I'm talking about home mining which consists of several graphics cards.Competition from ASIC-devices is growing stronger,so I will just keep an eye on the situation on the market and if it starts to improve-I think mining will again begin to generate income.

Everyone thought they could make easy money at home with no work so the the network got flooded with miners causing the profits to shrink to nearly nothing. If something is easy to do and gives profit it will get crowded real quickly.

Rtalk

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Now mining on graphics cards to me does not bring virtually anything.I'm talking about home mining which consists of several graphics cards.Competition from ASIC-devices is growing stronger,so I will just keep an eye on the situation on the market and if it starts to improve-I think mining will again begin to generate income.

mak013

hero member

Activity: 2548

Merit: 769

Quote from: corrado25 on May 04, 2019, 01:42:54 AM

good solution. I've been shutting down my equipment for a long time. There is almost no income, and I do not need to heat the house because it's so good for me and so is central heating. I decided to just trade for myself.
now I think a few people are already dropping popular coins because they are already very difficult to dig and buy new equipment I think it is not profitable

Happy to hear it. The more people shut down their rigs, the less difficulty would be, the more profit i`d get.

If someone compares profit with some business in real life? If you are getting even 3 year ROI - it`s nice profit. Bank give you about 5-10% in a year. Stop cry, sell your equipment and go to bank.

Keadyar

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Quote from: Beyerd17 on May 04, 2019, 02:24:29 AM

Sure, trading can be ok, but be aware that if you trade at small exchanges there is a risk they can be hacked or exitscamed, like what happened to Cryptopia. Users are stuck there for months on end and those with ETH got wiped out completely.

Please note that Cryptopia was not the most unknown or weak exchange. It was a mid-level solid exchange. Therefore, the most reliable trade on decentralized exchanges.

Beyerd17

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Quote from: corrado25 on May 04, 2019, 01:42:54 AM

good solution. I've been shutting down my equipment for a long time. There is almost no income, and I do not need to heat the house because it's so good for me and so is central heating. I decided to just trade for myself.
now I think a few people are already dropping popular coins because they are already very difficult to dig and buy new equipment I think it is not profitable

Sure, trading can be ok, but be aware that if you trade at small exchanges there is a risk they can be hacked or exitscamed, like what happened to Cryptopia. Users are stuck there for months on end and those with ETH got wiped out completely.

corrado25

full member

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good solution. I've been shutting down my equipment for a long time. There is almost no income, and I do not need to heat the house because it's so good for me and so is central heating. I decided to just trade for myself.
now I think a few people are already dropping popular coins because they are already very difficult to dig and buy new equipment I think it is not profitable

bitcoinPsycho

legendary

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$120000 in 2024 Confirmed

Quote from: GarySeven on March 23, 2019, 08:44:50 PM

At least for the summer.

I run a small farm of ASIC A9 Zmasters and they were heating my shop and giving me a decent profit over the winter but even at $0.06 a KW it will cost me too much to run them through the hot weather. So I'm drinking Bushmill's, smoking a Cuban cigar, and crying a little.

Arrrr bushmill's my favourite whisky. Good choice

molivil

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Quote from: EdvinZ on May 03, 2019, 12:45:04 AM

That's right, when the hot season comes, it makes sense to suspend rigs until better times. Natural cooling from nature in the winter for free and it helps the miners to get a good profit with their Asics. In a winning position in this case, residents of the northern regions.

Not always. If you have efficient miners, there's no benefit to shutting down the miners for the summer. Basically you have an asset (GPU's) that depreciate over time. If you can mine profitably, even at a margin, then there's no question if one should let the GPU's sit on the shelf doing nothing or have them do work for you. I took my time to sell all my older gen GPU's for the summer, since spending tends to trend up toward the summer season as the summer break starts. I could be a player and sell them when the next GPU shortages start, but it's hard to predict if it will ever happen.

During winter I just use the rigs to warm up the house. No need to run an expensive heater when I got one that also makes me money. =)

Coffeehot

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i am tired of the rapid upgrade of professional mining machines. i have always been a strong supporter of GPU mining machines. it is ideal for home mining. i like the flexibility of it.

huhhuh18

jr. member

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Ah well, that's what I call adjustment to situational demands. You have to restructure your plans when conditions become unfavorable. So i second your options. Mining is a "job" in a way and hence you should slow down when you're not making profits. Even large mining farms do that lol. You're not alone but do well to come back after the summer. Crypto needs you

Cellerex

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Coinsbit.io

Quote from: KryptoKai on May 03, 2019, 01:31:18 AM

Having an asic farm is an achievement in itself. I'd just reduce the number of machines running and run it next to the window. You can even pipe the heat our using a fan and ducting pipe

Soon the summer and the problems of heat dissipation for miners will become very relevant. My friends who are engaged in mining farm with horror await the onset of the summer heat. This is just a misfortune for miners.

KryptoKai

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Having an asic farm is an achievement in itself. I'd just reduce the number of machines running and run it next to the window. You can even pipe the heat our using a fan and ducting pipe

EdvinZ

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That's right, when the hot season comes, it makes sense to suspend rigs until better times. Natural cooling from nature in the winter for free and it helps the miners to get a good profit with their Asics. In a winning position in this case, residents of the northern regions.

GarySeven

member

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Quote from: EK701 on May 02, 2019, 09:18:38 PM

Quote from: GarySeven on March 23, 2019, 08:44:50 PM

At least for the summer.

I run a small farm of ASIC A9 Zmasters and they were heating my shop and giving me a decent profit over the winter but even at $0.06 a KW it will cost me too much to run them through the hot weather. So I'm drinking Bushmill's, smoking a Cuban cigar, and crying a little.

Want to sell them?

Miners are dumping them like crazy on ebay for a thousand bucks. Go for it!

jazmuzika217

member

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Quote from: GarySeven on March 23, 2019, 08:44:50 PM

At least for the summer.

I run a small farm of ASIC A9 Zmasters and they were heating my shop and giving me a decent profit over the winter but even at $0.06 a KW it will cost me too much to run them through the hot weather. So I'm drinking Bushmill's, smoking a Cuban cigar, and crying a little.

One of the most painful is the electric bills. And also the internet. You must have big capital inorder to sustain that kind of living. In summer was the most hard time for a miner we all know that computers has high temperature when it is mining. It is a great solution to just pause your mining at summer and reoperate it when winter comes. I think it really depends on you. If you got money try to invest in cooling systems specialized for that type of job. Im sure you will have your ROI soon. Good luck buddy. Cheers!

EK701

newbie

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Quote from: GarySeven on March 23, 2019, 08:44:50 PM

At least for the summer.

I run a small farm of ASIC A9 Zmasters and they were heating my shop and giving me a decent profit over the winter but even at $0.06 a KW it will cost me too much to run them through the hot weather. So I'm drinking Bushmill's, smoking a Cuban cigar, and crying a little.

Want to sell them?

pieppiep

hero member

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Quote from: Lizzylove1 on May 02, 2019, 08:12:35 AM

I guess you should have continue instead of turning it off and smoking cigar to cry a little. You said you are making little decent money, and your electricity seems to be cheap if I get your electricity submission conversion. Maybe except for the heat generated which can be moved to a better location with a coolant.

if in his country can get cheap electricity and have very cold weather temperatures or at least not too hot then he can relax a little and enjoy the benefits of mining results.

Topic: I Turned My Rigs Off... - page 5. (Read 2997 times)