Topic: if you live in the EU, watch your profit. I've already turned off my rigs. - page 6. (Read 3325 times)

Here is great example for polaris card owners as there are more them then nvidia owners that are mining eth with like most of us do,on this site you can see how the profit is going down and that we migh see the new low when it comes to profit(have in mind that this includes mining before we went on a new bull run)Lowest recorded value: 32 USD on the 10/20/2015. Highest recorded value: 799 USD on the 08/07/2015.This is the data that shows you the profit if you have 1gh/s and profit keeps going dow/from yesterday 38.435 USA$ so unless you have free power or close to it soon you will mine with daily loss
https://www.etherchain.org/charts/miningRevenue

I live in EU and just paying around $50 electricity for 6 GPU rig 175 mhs

I'll mine until I can't pay electric bill out of pocket because i'm just holding everything I make.  IMO turning them off is not an option unless you have to sell coins to pay for electric.  Plus I pay 6-7 cents a kw so that helps 

Yeah that make sense, using a probably $3k rig to heat your house all the while you are causing wear and tear to those expensive components. A $50 space heater would work just as well, and if you burn it up instead you aren't out 3 grand. If profits are that tight that you need to justify its expense by heating your house to offset the electrical costs, it is time to unplug it and sell the components while they are still worth something.

If you act quick you might be able to sell the components to the next sucker for close to what you paid new, but another month or two of this downturn, you will be lucky to get half or less of what your paid for them.

 Guys , after so many technical search, ROI calculations , comments etc.. I also wanted to turn off my 270 Mh/s baby.. But wife says keep the house warm   (big radiator is defect) ,so she don't care what the f* ROI , may be this is the way for God saying me something ..But  I am worried even if ETH reaches xxxx €, in summer she wont let me run the rig ... just for relieve the stress here , hope u all smile 

Hush! 
(And I don't mean that coin.)

There's 2 types of miners.. the ROI addict and the other one.. let's call him the speculative miner.
You're type 1 and that's fine.. but no one has the ultimate answer

You can calculate the profit of your mining rig every hours, days, months or even years. So yes you can still make a lot of money from mining right now.. but maybe not if you mine the "most profitable coins of the moment" .. you could try to  research and mine other coins that could makes you rich but you'll have to wait a few months to cash out..

My 2 sats

i don't usually debate o iniciate a debate with morons with no argument to support what they are saying. but i´ll answer anyway.

Numbers for me are clear. ROI for me is more than two years and all of my cards were bought at very low prices. I bought them for half of the actual price. So i'm by no means a guy that jumped in for the hype at all costs. It got me 4 months to get my 10 cards, because i did not want to expend that much on this shitty business.

Someone said : Sell me your rigs. sorry, customs and price of shipping would ruin part of my profit. I prefer to sell them in Spain.

it's insteresting, because you know what? as prices go down, more miners run to ETH. We are currently at 249.000Gh/s. That tells me something. Even the most informed ones, know NOW that those coins that were farming are not giving any profit, that's why they switch to ETH when market is down.

Profit is a word that depends a lot on your view. For me 121€ is not worth the heat it generates, the headhaches you get, the hours monitoring, the attention it needs, and the danger if something burns. Maybe you like risks. Maybe you need them.

someone also said: don't come back when BTC hits ATH. Can you please tell me the argument, the idea, the data, the technical analysis and the news that you have to say that??? Nothing?? that's the type of bullshit i'm just fighting against. People telling you to believe in something just because they believe it.

To assume that everyone has a 1080ti to mine what?? ZEC?? VRT,SPD? JLG? GRLC? Even LUX??? 5$ per day per card??? only Lyra2ver2 right?? yes, because you need really shitty coins that noone mines to take your profit. That's smart of you . So you may have to convert them to BTC right? Yes, don't answer. You are a non convential miner. You are those that mine day per day or even a week, and trade inmediately for BTC. So you are actually using alt-coins to profit not to technology, because if that was your point, why do you sell it???

so you are telling me about technology and changing the world, but you use altcoins to get more BTC not supporting those alts technology. Nice of you!!!
He said, in a rather rude way, that you are changing the system. Are you so ignorant to believe that governments and banks are gonna allow you to change the world with crypto??? Maybe yes in a technological way, but not economicaly talking. They will NOT ALLOW YOU TO DO THAT.

He also said that crypto needs pioneers to run in front. Normally , those that run infront, are those that die the first. If that's what you want, take my blessing.

It would be nice to debate data, technical analysis instead of beliefs and thoughts. But this forum is full of crypto-radicals that are so blind that they cannot acknowledge reality.

as i already knew, you cannot change up my mind, because you have no clue of what's happening, you have no clue of when this will recover (or if it will eventually), and now, just now, your 1080 ti are taking the lead because of an algo that allows you to make more money per month than those AMD owners that , by now, should stick to ETH.

So.......you are telling me that mining is profitable. but you have to have a 1080ti. Also, you have to mine shitty coins. You also need to take a trader to trade it to BTC before it loses it's value or even disappears from your trader.

AMD owners have no option but to stay in the ETH algorithm, which is the one that is being crashed to hell at the moment.

talking about FUD actually needs and deserves a comment. Because it's the cotton proof. The more radical you are in defending cryptos, the more FUD you see alround. i see a lot of bad news, no FUD. i even see good news, but no changes. Market goes down and today. Today we are at prices of December 2017. So three months have gone to hell.

someone also said you don't want people like me here. Well, i don't like people like you here also, because you cant argument anything. Just hooligans of the crypto. And that shows me something. In my life i've seen that normally those who defend to the limit something, is because they live with that. I don't need crypto, that's why i say what i say. Maybe you need crypto to work because it's your only income.

And obviously, you don't want people talking about things. You need sheeps to continue buying coins and being shut up. I will continue telling people not to enter in crypto. They´ll only lose money.

*Yawn* you are exactly the type of person that we don't care whether or not you stick around. We are better off without ignorant and naive people that believe their opinion holds any weight, especially considering you probably just got involved with Bitcoin when the price hit $15,000+. You probably heard it was a good investment and now you're throwing a fit, because it is not constantly going up in price.

You said you make $150 profit a month, after considering electricity and then you say that it is not profitable. Those two statements contradict eachother, it is one or the other. A single 1080ti makes more than $150 a month, and ROIs in a couple of month even at current profitability/prices.

"Stick to reality. Watch the news", another contradictory pair of statements. You will either Stick to reality, or watch/rely on the news, but you cannot do both. The news is consistently misleading and intentionally so. If you truly believe the market will never recover then you are a fool beyond your years. Please, keep your rigs off, because we don't want you involved. Look at Bitcoin long-term and stop crying because you bought-in at the ATH. Bitcoin was a couple of dollars a few years ago, and you're exiting because it's down from $20,000. Good riddance. Please don't come back when Bitcoin reaches a new ATH. The investors that are not interested in innovative technology are useless as well; money without purpose is of no benefit. You ask why crypto hasn't been implemented yet if there is so much promise, the answer is volatility in price (caused by fools like yourself), and the difficulty of changing all of their current system. There will need to be pioneers, as with anything. You are clearly not going to be one of them.

Proffitable mining it isn't a continuous process. In a begining, it was a hobby, which people were doing for fun, with their idling computing power, there was(and is) various boinc projects too. Fortunately for them, the market flied to the moon and their hobby was unexpectedly well rewarded. Well, for some of them it was a planned result. It was a price for having an interesting hobby not being a easy money chaser.
But for now, this market changes. Even the most stupid people are mining now. I'm sorry, it's rude, but just look at those faces on youtube. If it ever going to repeat (ehich is not likely because history doesn't repeat on market, sometimes it's just remind of itself in some form of a bad joke), these gamblers must be ejected so hard that they won't ever look at cryptos ever again even if it'll be bullish again. When mining won't be proffitable (at all) and people will do it just a hobby (for real), then maybe we'll have something healhy.
It still need to cool down. Some of the heat was dropped already, but it's still very hot, people still hoping for a moon, and many of them still buy videocards massively no matter what.
But probably there will be nothing drastic and mining will have some proffit with the help of brain and some cost optimization.

You half sacked fools are idiots for paying electric with crypto. Prices will bounce guys.

I've been around since 2014.

Back then a R9 280X made like $20/day during Nov/Dec 2013.

6 months later or so it pulled in maybe 25 cents a day. Even though it was still profitable a little, Most just made a Craigslist ad/eBay listing and if it sold, they powered it off and just took the GPU sales money.

Reason being that it's not worth risking the GPUs, PSUs, your house from starting a fire over 25 cents. So if someone offers you $250 for the GPUs it's better off just being sold.

I don't remember the exact details but a r9 280x gamers paid about $200-$250 for them back then so getting 1000 day ROI instantly was a better option.

The people who didn't sell their GPUs they just turned them off and waited until it became profitable again which happened about 2 years later in Feb 2016.

that mean you have to check your power prices better =)

best way to get power for free . 

I would give you all my merit if I had merit to give. You are so right. I have thesame opinion. My rig is also offline.

€ 121 euro is not worth it. I can't believe that people say 121 is worth it.

You can still make profit after the coin price drop 50%.

€0.07/kWh here, not giving a fuck and buying up the recent flood of cheap mining rigs