Topic: I'm mining at a loss - page 3. (Read 2022 times)

Mining at a loss is worth it if you are willing to hold the coins.  Right now is the time to accumulate more coins while all the other weak miners are quitting, stay strong!

Gpu,fpga,asic will always exist and they are all options for miners and the best performing one through out last years is gpus , nothing will die they will exist as long as crypto exists.
Most failure traders switch to mining as they hedge with hardware
Dark days like this will always come and pass , but mining isn't a war it's a buissnes if you mine at loss then you have alot of emotions in your buissnes , keep it math and stop if you are losing money

What...its better to mine than buy cos prices are going down....
So the coins lose value if u buy or mine, so then why is it better to mine? Makes absolutely no sense.
Next gpu shortage....not going to happen
Gpu shortage was started by guys who made a huge amount of cash, but then got worse by all the clowns coming in too late trying to play catch up....they created a ridiculous market by insisting they could make huge profits, sucking in even more clowns desperate not to miss a boat that had already sailed....

There wont be the same situation again, cos by the time you come to sell your 1080tis they will be worth so little, you'll cry, and ASICS and FPGA will have totally dominated mining.

The next shortage will be FPGAs, and once they get established gpu mining will be dead forever.

As for mining at a loss....if the coin is established, with a good market, no point whatsover....all this bull about contributing to the chain etc, total crap, so long as 2 people globally have their wallets open (full wallets) and at least 1 of them is mining, any chain will operate. If its a POS chain, then only need wallets open. So think about it, take BTC for example, the worldwide mining could drop my 1000 fold and if done in a controlled manner the chain would still work perfectly....

The only time to mine at a loss, is when new coins first come out before they have a market (therefore no other way to acquire them) or really old coins that again have no market.
Mine the crap out of the, and then hope they get listed / relisted.
Any other mining at a loss is just crazy, and shows how little grasp on reality many miners acutally have

Look around, read the forums, "https://bitcointalksearch.org/topic/50-gpu-mining-farm-earns-less-than-10-a-day-voskcoin-mining-farm-profits-5016425" miners all over the globe are slowly realising that its time to turn off.

The article I've linked to, was just the first I came across today, but to give you a perspective, they are earning $10 ish off 50 gpus (no idea how true any of this is ) but I am earning $8 a day of 1 Ryzen 1700, and total power 120Watt. That's nearly max that this particular coin can generate per day ( I have 88% of global hashrate ), so I cant throw another 10 rigs at it, and make $80 a day, but it sits quietly in the background generating $8 a day, every day ($7 profit).

So cut your losses, either buy, or if you want to mine,spend weeks researching, and go find / make your own coin, remember there are nearly 12,000 coins to choose from.
Just remember when u find that nugget, much as you want to, don't tell everyone, let people put in the effort and find it the way you did.

1080Ti on amazon already selling for $600 (RX 580 for $200), so I am sure gamers will not pay over $300 for Ex miner 1080TI GPU's, and now think for how much they gonna sold in few month when RTX will be out, and AMD 7nm around the corner, the 2nd hand market is flooded with mining GPU's and it hard to sell now and in future so any1 that didn't ROI until now should really consider Selling the GPU's, they are loosing more Value per day on 2nd market then they mine.
The $$$ from selling the GPU's will "Mine" more coins then the GPU's could in Years.

That's all?  I heard 1M$. 

Now all hodl because they heared btc go to 250.000$ , so everyone want to be rich.=

Well it's good that there are some miners out there that actually hold their coins for a little while instead of selling them as soon as they get a pool payout.

The issue with all these alts crashing is also due to the people who are underwater with their rigs and sell ASAP hoping to ROI on their 1080ti eventually.

Miners dumping and lack of buyers and ETH about to break $200 which won't be good for anyone.

The smart people are the ones that either hold or they sell on rallies and not on dumps.

Can't see the point of the skyrocketing difficulty with that electricity prices i am hearing , i have almost free electricity and mining becoming unprofitable in the work done to mentain the hardware working 24/7 , so how about ppl paying for electricity i think they are just fighting against the truth that they had lost thier investments

I really cannot see any reasons why one would mine at a loss. Just buy the coins/tokens you are mining then, with mining at a loss you are basically just throwing money away you have a chance to multiply with just buying the cryptos you want.

I like your last sentence, I'm lucky for all mining rigs already ROI. Yes, for now, when someone wants to do mining it's should have a smart strategy, I don't think to sell all my rigs better is I mine Solo in Shitcoins or temporarily close it.

I think it's stupid to mine at loss, it's not 2015 again since back then the Value of the minable coin was low but you got lot's of coins and could made a lot of $$$$ in 2017, but now the Diff is the same crazy high and you get very little amount of coins (ETH) that even if the price jumps X5 it means you only got ~ $2 profit per day for 1080TI with Viagra Pill.

How this is better strategy then selling the 1080TI right now? remember that new GPU's are out and by next year with AMD's 7nm GPUS +NV RTX even the 1080TI will be sold at trash prices since no Gamers will pay more(now think about 1060/1070/AMD RX 2nd prices), the GPU performance by next year gonna Double, it's not 2017/18 again.

So it's better to sell the Pascal/Vega/RX GPU's now while they got so warranty left and take the money and maybe buy some coins at current dirty cheap prices or save the money for next year for new GPU's and hopefully GPU mining will be back at big time and we will meet here again with a big smile on our face :-).


 

OMG, this thread is still going? I cannot believe how hard of a concept this is to understand.

By mining you are buying the coin. The only difference is you are paying money to the electric company instead of an exchange for your coins.

So using your very own argument, you are spending REAL Fiat to buy electricity which in turn is used to mine assets that are going down every week.

The only difference is you are putting a extra layer into the buying process, mining.

Mining only makes sense when the cost to mine a coin is less than the going market rate, thus enabling you to obtain coins at a discount below market prices. Mining at a loss means you are paying above market prices for the coins you could get cheaper just by going to an exchange. What doesn't make sense about this, it is such a simple concept.

I know what you are trying to say but you are incorrect. People mine at a loss either because they are stupid or because they are trying to hide their acquisition of the tokens/coins (for whatever reason).

If they're gambling, they're doing it wrong. They are essentially tipping the power company for each bet they are making - it's a waste of energy and resources.  If the coin moons as you say, it's always better to have more coins (which is what would have been achieved if they bought instead of mined).

people mine because its fun

but mining at a loss is like throwing money away, you can sell everything buy coins and you'll end up with more, of course this is less fun 

people mine at lose are gamble
they think those coin will to the moon someday

Well this greatly depends on what coin you are mining. If you are mining the most profitable coin, selling it immediately would probably be a good strategy because most likely, it's a shitcoin that decreases in value, daily.

That being said, i also think mining at a loss is stupid. It's ok to shutdown your rigs boys.

BOLD strategy? Like cutting off a couple of fingers? Or putting you tongue into a paper shredder? How exactly does earning less coin with a set amount of fiat (the amount used to pay for electricity and operating overhead) ever make sense? Please spell it out for stupid me. I want to see some math. You know, hash it out.

Hint - big miners are making a profit because they have 2 cent electricity and massive data centers. Their operating costs per card are often less then 1/5 what a residential home miner would pay.

Haters?  

Again, retarded emotional comments obfuscating math.

Mining at a loss can be a bold strategy but it can pay off if you have patience.  I wouldn't listen to the haters, I would just keep up mining, the big miners are doing the same thing because the hashrates keep going up.  They know how valuable crypto will be in the future.

I got into crypto way back in 2011. I've seen all kinds of circuses go on. I have been scammed and I fell for a ponzi mostly because losing 500BTC meant nothing to me (yeah now it hurts like a shotgun to the gut).

With hindsight and much more passive approach I can tell people that they need to really take emotions out of their game (especially negative ones) and they need to think logically.

I know my posts don't fall on deaf ears because I have noobs always asking me what to buy or thanking me for slapping sense into them.

I do have a vested interest in crypto both financially and as being a participant in the world economy. I would like to see the crypto revolution suceed. I don't like seeing noobs get fleeced. But if they read all the warnings and still lose money well then, that's just entertainment.

Here's a thread https://bitcointalksearch.org/topic/advice-for-new-users-regarding-cloud-mining-739510 I did back in 2014 when I started seeing every single user spam cloud mining in their signatures. I'm sure it helped at least 100 people stay the hell away from what were most certainly scams.

I've always been one to help people who are willing to help themselves (that's why I became a physician). For those looking to destroy themselves crypto is just like meth. A diabetic hell bent on eating pounds of rice and tortillas is going to enjoy taste for a couple of years over longevity. Makes me really wonder sometimes if dolphins or elephants aren't more intelligent than humans 

You've been literally trying to make these stupid people understand that for a big while (almost all of your recent posts are regarding this thing).

Stupid people will keep popping up, it's useless to spend your precious time on them.

I do understand your pain though!