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Topic: I'm Broke! Plese help me:( - page 2. (Read 3015 times)

legendary
Activity: 1008
Merit: 1001
Let the chips fall where they may.
August 13, 2014, 08:26:38 PM
#40
You appear to have gotten in right around the December peak.

I would advise you to sell any GPUs. Consider culling (or undervolting) less efficient ASICs as well.

I also agree with the advice to say no to pre-orders.

For Bitcoin, buying and holding tends to be more profitable than playing the market. I don't know how many more spectacular rises in price we will see though.
legendary
Activity: 1610
Merit: 1004
August 13, 2014, 04:09:04 PM
#39
You could continue mining Monero with your GPUs, check out http://monero.cc/

As for the ASICs, just keep them running and hope that eventually Bitcoin will rise to higher levels (it will).

sr. member
Activity: 407
Merit: 255
August 13, 2014, 12:34:31 PM
#38
I don't believe you invested $100,000 into mining equipment withotu doing adequate research on difficulty and coin prices. If you did, wow. Just wow. I am sorry for your loss.


If he purchased pre order Hashfast rigs and Alpha Technology scrypt miners then I believe he has losses. Research on difficulty and coin prices will not tell you weather a company will scam you. My advice to all is not to purchase pre order. Only buy what is in stock. Seems like the Antminer S3 is what most people are ordering now.
sr. member
Activity: 644
Merit: 260
August 13, 2014, 11:10:02 AM
#37
You should sell all your mining hardware as soon as possible and investing all the remaining money into bitcoins directly.
At the moment the price is low and probably if you hold your coins without trying to play the market you will be rich again in a year or two.
hero member
Activity: 798
Merit: 1000
LIR Dev. www.letitride.io
August 13, 2014, 08:42:59 AM
#36
That sucks dude, if I were you I'd sell your rig and cancel the preorder asap (assuming you can still get a refund). The sooner you do that, the sooner you'll be able to reinvest your money back into btc.
hero member
Activity: 873
Merit: 1007
August 13, 2014, 08:25:23 AM
#35
Sell the GPUs NOW!!!!   The next generation of cards from AMD is about to start rolling out and nVidia will start putting out the rest of their Maxwell lineup.  That will make the current power hungry cards worthless to miners.  Sell the cards now while gamers might actually buy them.
newbie
Activity: 56
Merit: 0
August 13, 2014, 07:08:54 AM
#34
Sorry for your loss, buddy.
But what is done is done. Forget about those money. It's not the end of the world. It's tough and it won't be easy to get out of the mess. Maybe the cryptocurrency industry is not your best choice. Thought of something different?

And yes, definitely try to get rid of the mining equipment. You won't get back all of your investment, but at least it's a start to help you get back on your feet again.
legendary
Activity: 1904
Merit: 1073
August 13, 2014, 03:28:06 AM
#33
Well put your hardware up for sale, and recoop some of your losses.

Then try to ask for advice first and invest in the right equipment, next time. We all take risks, and in most cases we fail, but we learn through those mistakes.

Begging for someone to bail you out, for mistakes, you have done, will not help your cause. But if there are no other way, try reddit, they seem to be more willing to help.  Wink
hero member
Activity: 988
Merit: 1000
August 13, 2014, 02:16:14 AM
#32
Maybe if you invested all that money directly in bitcoins instead of in mining equipment you would have earned some money,
don't do the same error in the future...
At one point miners were a good investment. Unfortunately this time has more or less passed as the cost to buy a miner per the amount a miner will mine is too high.  
full member
Activity: 315
Merit: 103
August 13, 2014, 12:55:20 AM
#31
...
I bought GPUs and ASICs about 40,000$. in this time my devices worth less than 15000$.
my daily income from rigs is about 0.04 btc!!

Can you go into what you "rigs" are its just hard to believe even if gear went down to 15k in today's market that it is only bringing .04 BTC per day.   Is it Scrypt, or BTC?

He put GPU and ASIC on the same sentence, so he is probably mining alt coin.

And most alt coin miners lose a great deal of money.
legendary
Activity: 1120
Merit: 1000
August 13, 2014, 12:39:47 AM
#30
Maybe you can try to cancel your rig's pre-order and explain the situation. If they are not scams think you have some chance.

About the rest, you can wait to see if we see the moon or at least some rise so you can seel for more, or wait. The 40mBTC you get by day are not bad, and might be a good extra income, if you don't spend more with power.
full member
Activity: 158
Merit: 100
August 12, 2014, 11:28:01 PM
#29
maybe next time you must be carefull if you want to mining
i am also a newbie in mining bitcoin, maybe this is a useful experince, if i want to mining BTC
hopefully ...
legendary
Activity: 1456
Merit: 1000
August 12, 2014, 10:53:08 PM
#28
...
I bought GPUs and ASICs about 40,000$. in this time my devices worth less than 15000$.
my daily income from rigs is about 0.04 btc!!

Can you go into what you "rigs" are its just hard to believe even if gear went down to 15k in today's market that it is only bringing .04 BTC per day.   Is it Scrypt, or BTC?
sr. member
Activity: 266
Merit: 250
August 12, 2014, 10:23:08 PM
#27
I don't believe you invested $100,000 into mining equipment withotu doing adequate research on difficulty and coin prices. If you did, wow. Just wow. I am sorry for your loss.
full member
Activity: 174
Merit: 100
August 12, 2014, 10:21:25 PM
#26
Should not risk what you can not afford to lose. Most people here probably don't even have access to the amount of money you spent on miners.

member
Activity: 89
Merit: 10
August 12, 2014, 10:13:13 PM
#25
Hi guys.
Sorry for English.
In past 9 month i invest about 100000$ in crypto.
I bought GPUs and ASICs about 40,000$. in this time my devices worth less than 15000$. and after bitcoin crash i lost my incomes.
Preorder scrypt asics for 20000$ which i don't know thats will deliver to me or just an scam.
And i tried trade the rest of my money in markets and i lost huge money.
In this time i have only 12btc and my rigs and a preorder device! my daily income from rigs is about 0.04 btc!!
Can someone give me rules and advice? i need my money back Embarrassed


i'sorry to hear that story, maybe this is become an experience, so if we will getting mining, we will be carefull
member
Activity: 84
Merit: 10
August 12, 2014, 05:03:55 PM
#24
You need FIAT first to get BTC thats why adoption is stuck.
full member
Activity: 221
Merit: 100
August 12, 2014, 02:14:09 PM
#23
Sorry for your loss!

I can´t give you a good advice. Most of the time the best stategy to get more fiat is to buy BTC and hold.
sr. member
Activity: 252
Merit: 250
August 12, 2014, 01:59:36 PM
#22
you can probably sell it for a bit of profit on ebay, depending on what it is?  Smiley
legendary
Activity: 1652
Merit: 1483
August 12, 2014, 01:58:31 PM
#21
recouping your money through mining at this point is probably not going to happen. i suspect this has happened to a lot of miners and altcoin investors. sad times. Cry
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