Topic: if you live in the EU, watch your profit. I've already turned off my rigs. - page 7. (Read 3325 times)

with 314.7mh/s considering electricity costs (not even counting taxes to be applied in the future) , getting just 150$ dollars profit per month. 121€ in my country Spain (considering current value € --> $)

Let's clarify somethings here.

- No, there isn't a bull run. Don't let people mislead you.
- No, it's not profitable
- No, you will not ROI in years at current prices. Moreover if you bought it in the bubble.
- No, it's not worth the effort and headaches to keep it working
- No, don't believe in blind faith guys. Stick to reality. Watch the news, watch the market, analyse technical data and consider the high risk of mining and crypto in general.
- No, the market is not recovering. And it will not do it.
- No, the market has no good news to recover from the fall. has lost 60% capitalization of the hole cryptomarket and others like ETH has lost nearly 70% of value.
- No, regulations, taxes and the end of the anonymity proposed by many countries will not help either.
- No, your coins, and other users coins are insignificant compared to big whales. They are not in for technology. They don't care about that. They are in for profit , instant profit.

If investors, big ones, would believe in this cryptoworld, why are we not seeing huge amounts of big contracts to use it? Cryptocurrencies and their technical projects have been there for years. Why is it so that NOW, just NOW, we are seeing this? Is it because noone knew about this (which would probe developpers didn't do their job attracting money), or is it because now you can get profit trading

can you tell me a single company that could survive losing 50% of it's value?? do you guys know the meaning of TRUST??? very few people here say they've made profit. Most of them did it in December, but greed was greater than intellectual preparation, and they hold. Now they are in big losses.

BTW, my rigs are staying off. F. Off crypto.  


BTW (2) - ETH will enter PoS in just 4 months at current mining rates.

I take on a more casual mining approach, I use just my 2 existing older cards, HD 7870, for mining various CryptoNote coins.
Electricity here in Greece is a little cheaper, on my current power plan its 0,077€/kWh at day, and 0,066€/kWh at night, so if I keep my PC running 24/7 for mining, it's about 10€ of electricity per month.
Even with low crypto prices I mine about 1€ per day so the electricity from the PC pays itself after 10 or so days.
But I think that the best strategy IMHO is to hodl. Keep mining and let those wallets fatten up

Its not dead for everyone,
Im not sure how much $ are you paying / KWH , and what are you mining

Some amazing answers in this thread. Next to the pussy magnet factor , Vann gave a great analysis, and you "retard75" raise some interesting objections, but your ideological assumptions about how financial activity and the modern world function are completely fallacious.

Banks don't always win, many banks have and will go bankrupt. In fact it could be argued that the 2007-8 crisis was the beginning of the end for the existing fiat financial system, where a critically high number of people saw how governments and central banks print unlimited money out of thin air to protect their vested interests and the big capital owners at the expense of letting the vast majority of their constituency suffer unfairly (not to mention the rest of the world having to pay for exponential bets made by the US financial system through the devaluation of their currencies). This is one of the biggest reasons why Crypto Currencies appeared in the first place, to give intellectual individuals the right to win their freedom against institutions and governments that have sinister agendas.

Enough talented and resourceful people are awoken to the realities of the "politically correct" Post Cold War world now that they would rather start a World War 3 than let corrupt police states and their instruments (central banks, fiat money, law enforcement, etc.) continue to oppress the human will to sovereignty and freedom.

Capital mood swings FTW!  




"Hehe."

posts like this make metroid have wet dreams of gpus unplugged.

Also turned off mine after receiving the last payout from Nicehash. It was almost unprofitable running a whole noisy mining rig. It's a shame that mining appeared very promising in late 2017 to early 2018. Will definitely try again in the next month to see if anything has changed till then.

Don't think so.


Locals are getting scared...
https://www.hln.be/geld/economie/bitcoin-blijft-crashen-en-stevent-af-op-beruchte-kruis-des-doods~a305ed61/

Turn your miners back on, prices are rising again. We're going to the moon!!!

Costs are a bit lower here in Belgium bro, but still almost same situation. My rig has been offline for a few weeks now. I feel your pain.. And I think it will take a _long_ time for the market to recover.

The next 2 years of poweruse are covered by sells I did last december.  
All riggs are paid off since june last year, so a whole different scenario compared to the people who started mining this year and thought they would make big profits.
And they have another advantage for me, they also heat my growtents, otherwise I had to use heaters, now the riggs heat the plants, win win  

As long as it's enough to pay for the electricity, I think most miners won't turn it off.

Who can resist the mesmerizing sensation of a mining rig?

Looks like a christmas tree with the sounds of a B-52. Girls beat the path to my door.
The rig pays off even I have to sell my left kidney to power it. "Hehe."


If it wouldn't improving my love life I'd prefer to buy the coins if it's cheaper than mining. Anything else is plain ... well ... retarded.

if your in it for the Profit, you shouldn't be mining unless you have deep packets because it will all ways go like this and if you do mine don't complain, it's like any thing, good times and bad times.

I like times like this the coins in most cases stay the same or go up as the weak stop mining and i don't care about ROI, an yea i said ROI for the fools that don't like that word ...you can still be smart, act wide  and not be so up tight . I thought we were mining virtual cash not real cash..... all ways have a backup ....

Daily profit per day is a short-sighted and stupid way to look at long term investments. The profitability today is 100% irrelevant to what the profitability will be of the Crypto you mine today in week, month or year. If you were mining ETH in NOV 2016 when it was $10, 0.10 USD per day profit after power would have been about right. If you kept mining, a six card rig was making several ETH per week. In a volatile market such as Crypto, only an idiot would make profitability projections based on current price.

You are just a couple of weeks behind of the 0.3$/KWh guys. Then you will be there too.

Dutch, $0.30 / watt

4500 from the wall / hour.


And I Will Go on mining, even if it Will cost me my fiat money.
Why ? Because it Will rise again, when ? Don't know, but it Will.
The crash now has 1 advantage, the whiners who thought to get rich quick Will be gone soon. And so Will the topics about mining is dead and mining isn't profitable anymore.

But there will no new bull run for a long time.

Those people that entered the market in December/January looking at losses up to 80%.
Played to death by P&D teams. Traumatized, sitting in the basement with a double-barrel shotgung
into the mouth. Potential new investors are aware of these destroyed lifes.

We have to wait for the next generation of "Greatest Fools" in the Greater-Fool-Theory.
Could take up to 2 years.

Additionally, the banks declared war on decentralized cryptocurrencies. And the banks always win.
Crypto was a funny laughable thing until December. But then it became threat. Maybe they will let it
go as soon BTC hits triple digits.




Hehe.

Checking calculations, 180Mh/s rig @700w @ 0.11$/kw  = 141$ / month

U wot m8?