Topic: if you live in the EU, watch your profit. I've already turned off my rigs. - page 8. (Read 3325 times)

You must be demented/delusional, really, 96% of people don't mine for 10 cents of dollars per gpu rx 580 per day. Check the calculation cause i dont want to waste time telling the reality to your troll mind not to mention for you to break even will take 3500 days. Only lunatics, trolls, idiots will say mining is profitable now.

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30.0&p=130.0&fee=2.0&cost=0.3&hcost=440.0&commit=Calculate

how?
A 6 GPU rig mining 180MH/s@800w and 0.15$/kW ( 0.13e/KW ) is making about 100$ a month pure profit.

How is this anywhere near 0?

Btw, my 6 gpu rigs mine 175-180Mh/s @700w and im paying 0.11$/KW, making about 130$ monthly each.
The rigs use Nitro+ 470/570 cards, bought at 200e - 220e before May last year and have been payed for a couple of times over.

I don't see why i would shut anything down if it makes 1k$+ monthly.

People are panicking for no reason, the profits right now are the same they were mid 2016.

yes for 1KWH I pay 0,12$  or 0,10 EUR , it costs me per rig daily 2,4eur or 3$

There are different reasons for why people want to mine. If your only goal was to make X amount of profit per week/month to pay your bills and the rig, then yes, that has gotten much harder to do over the last couple of months. However even at 0.30 USD power, as of today it's still profitable to mine after power costs are included.  In fact the total marketcap of all coins is no different than it was just 4 months ago. So unless you believe there is fundamental change of paradigm that renders current blockcahin technology obsolete, then market corrections are nothing new. It's just a good time to sharpen the sword and reevaluate your positions.

If you believe, as many people invested in mining do, Crypto is the future, then you need to make sacrifices for safeguarding your future. As said the power cost of most rigs per day is equal or less than a single cup of Starbucks latte that many have no problems wasting money on every day on their drive to work. One thing for sure is if you keep mining with a rig you already have, you will keep accumulating Crypto regardless of the current price and that cup of coffee you waste money on daily has ZERO chance of bringing you any return in the future.

I'm in the same boat.
I pay my electricity 0.13€ / kWh and I am today barely making a profit: maybe 10-15% only. At this point I also made the decision to turn my rigs off and wait for a price increase. Better to directly buy the cryptos rather than pay the same in electricity and deal with technical problems and wear and tear.
I will however not sell hardware right now and wait for the cryptos to go back up.

I am hit really hard as I've built my rigs in January-February 2018 so taking this crash with absolutely no ROI.

The equation is really simple: once revenues < electricity costs it's no longer worth mining.

you mean 0,12$ per kWh right?? not 0,012$. Guess that's with taxes included right??

In the q4 bounce, I'll be happy my rigs are still running. At 600$ electric out of pocket every month... I've wasted money on more unnecessary things before.

In 2013, more than 4,000 people shouted to the end, and the miners were digging.
Until the beginning of 2015, the mining machine was unable to pay the electricity bill, and it was shut down directly. At that time, the price became more than 900, which is the bottom.

Like I said everybody decides for themself, my rigs take about 1kw/h and it costs me about 0,012$
I own a little store for almost 20 years and it was good and bad years, sometimes you work only to pay bills but still we work....
Something we will earn, and difference for a a day is coffee     
I believe .... in better times   

your coffee is very expensive then. my electricity cost per day on a 189,8mh/s 6 gpu mining rig (880W from the wall, so brutally nice) is about 3.8$ per day (0.18$ per kWh).

it's not a matter of good times or bad times. It's a matter of not knowing if there will ever be good times. And you cannot assure that. Or yes??

Everybody who dont see any profit and dont believes must stop,
but every business have good times and bad times... its up to you :-)  
For some this is a hobby... and they are willing to loose a cup of coffee a day  

Not yet, not yet 

You may be right but I don't see that disabling of the European miners had an impact on the complexity of the network. ETH coin mining is still very low. Perhaps you do not agree something or the other miners do not know how to count. We'll wait a few days and see. Maybe profit margins will block the fall in coin prices.

interesting opinions.

I suppose everyone is paying bills right?? do you allow yourself to pay from your bank account what should have been paid by the machines??? i haven't gotten to that extreme of idiocy, sorry for that.

ahh ok, so you are mining and not selling. So actually every month you get nothing in return but to pay electricity on your own. So every month you actually lose money in favour of crypto. Ohh this soldiers of crypto, how hard it is to deal with your statements.......  

how many of you already know that ETH will enter PoS at current mining rates before 8 months from now?? Do you have an idea of what you are going to mine instead??? I guess not. If instant profit is not your ideal situation, then you can afford losing money all the way till the moment comes when you can sell (if it comes).

And what about the reason to hold considering that cryptocurrency will turn to green??? Any argument not risible?? I mean...i don't consider blind faith as an argument, but it seems the top trending topic here. You should believe because i do it (said god) Nice!!! and if you don't consider it, you are mad.

And what about talking about future profit?? future profit? who TF can tell you right now this is gonna end well??? i guess the world is full of stupids ( a large amount of them are still mining at the moment). It's just a matter of criterium.
if i have to pay the bill for the machine, well, get the fuck out here, that's not what mining is for. And if that was the case, as someone said, you should better buy the coins instead of mining them.

and while we are talking, everybody here mining ETH is getting less and less money. Since i will not pay your bill (neither will do your rigs at current price), i will cut loses. But you´ll still be paying from your bank account your bills. That's utterly nonsense.

But i guess if at the current state you are still mining, nonsense seems to be the most adecuate word to describe it.

Please, continue posting, 20% loss today on ETH. But hey!! the market will recover , remember!!! No reason why, money rises in the trees!!!!

Dip? Lasting for last 3 months? Its not called a dip any more, its called crash.

...Investors "gone" it is "over"...and Crypto is "dying"...this is jubilee 500.times...when crypto "dies".

I agree we see who the weak are . if you mine for profit , mining's not your bag, it has it's  ups and downs . I like it during these times the most .



yup more for me, I mine and hold any way .I just had solar installed so my power cost won't matter to much either . an I'll replace the hard ware as i need to .

I really dont get it why people mine if the electric costs are higher. Why not just buy the coins? Youll get more than with mining...

Just my 2 cents.