is it still profitable? How many rigs do the big boys still have... - page 2.

octominer

jr. member

Activity: 248

Merit: 8

Quote from: Marvell2 on November 15, 2018, 11:55:56 PM

Quote from: Za1n on November 14, 2018, 05:51:15 PM

Quote from: Exoskeleton on November 14, 2018, 02:59:29 PM

Quote from: Indamuck on November 14, 2018, 08:06:46 AM

It's already over for the home miners, the only people making big profits are the giant farms with extremely low electricity. It was fun while it lasted but I suggest selling off your GPUs before they become worthless. Maybe if you have solar power or really cheap electricity you can continue mining but for most people it is not worth it anymore in the slightest.

I have to say, this was exactly the mantra back in 2012/2013. For real.

Yet here we are. I bet we will be hearing the same thing in 5 years, yet people will still be mining at home for a small profit.

It might have been the mantra but that doesn't make it incorrect. The GPUs used back in 2012/2013 would have been very inefficient compared to the newer ones available in 2016/2017 when home mining made its comeback.

Sure if you hung on to your gear from 2012/2013 you would have made some additional profits in 2016/2017, but you would have made more money by selling your gear off back in 2014 when it still had value and with that money either bought coins directly when they were cheap or invested in newer cards in early 2016 when mining started becoming profitable again. Mining is cyclic which seems to take 4-5 years to work through the entire boom/bust phase, well GPU technology and efficiency changes quite a bit in those 4 to 5 years to expect your old hardware to compete when the new cycle hits.

So yes in 5 years we will be hearing the same thing and people will be home mining, but they will be mining with new GPUs not even available yet that will outperform your current cards by 2-3 times. I also say sell them off now while they still may have some worth and either save the money for new cards in 1-2 more years, or better yet just buy some coins outright while they are cheap and just hang on for the next cycle.

selling gpus into a downturn is stupid af, the time to sell them was when there was a scarcity
its one thing if vega and 2000 series were say like double the power or efficiency but they barely push
20 percent better than polaris and 10x

better to hold

If the electricity price allows it for you then yes, it's better to HODL the gear also.

Marvell2

full member

Activity: 1148

Merit: 132

Quote from: Za1n on November 14, 2018, 05:51:15 PM

Quote from: Exoskeleton on November 14, 2018, 02:59:29 PM

Quote from: Indamuck on November 14, 2018, 08:06:46 AM

It's already over for the home miners, the only people making big profits are the giant farms with extremely low electricity. It was fun while it lasted but I suggest selling off your GPUs before they become worthless. Maybe if you have solar power or really cheap electricity you can continue mining but for most people it is not worth it anymore in the slightest.

I have to say, this was exactly the mantra back in 2012/2013. For real.

Yet here we are. I bet we will be hearing the same thing in 5 years, yet people will still be mining at home for a small profit.

It might have been the mantra but that doesn't make it incorrect. The GPUs used back in 2012/2013 would have been very inefficient compared to the newer ones available in 2016/2017 when home mining made its comeback.

Sure if you hung on to your gear from 2012/2013 you would have made some additional profits in 2016/2017, but you would have made more money by selling your gear off back in 2014 when it still had value and with that money either bought coins directly when they were cheap or invested in newer cards in early 2016 when mining started becoming profitable again. Mining is cyclic which seems to take 4-5 years to work through the entire boom/bust phase, well GPU technology and efficiency changes quite a bit in those 4 to 5 years to expect your old hardware to compete when the new cycle hits.

So yes in 5 years we will be hearing the same thing and people will be home mining, but they will be mining with new GPUs not even available yet that will outperform your current cards by 2-3 times. I also say sell them off now while they still may have some worth and either save the money for new cards in 1-2 more years, or better yet just buy some coins outright while they are cheap and just hang on for the next cycle.

selling gpus into a downturn is stupid af, the time to sell them was when there was a scarcity
its one thing if vega and 2000 series were say like double the power or efficiency but they barely push
20 percent better than polaris and 10x

better to hold

Exoskeleton

sr. member

Activity: 338

Merit: 251

Quote from: Za1n on November 14, 2018, 05:51:15 PM

Quote from: Exoskeleton on November 14, 2018, 02:59:29 PM

Quote from: Indamuck on November 14, 2018, 08:06:46 AM

It's already over for the home miners, the only people making big profits are the giant farms with extremely low electricity. It was fun while it lasted but I suggest selling off your GPUs before they become worthless. Maybe if you have solar power or really cheap electricity you can continue mining but for most people it is not worth it anymore in the slightest.

I have to say, this was exactly the mantra back in 2012/2013. For real.

Yet here we are. I bet we will be hearing the same thing in 5 years, yet people will still be mining at home for a small profit.

It might have been the mantra but that doesn't make it incorrect. The GPUs used back in 2012/2013 would have been very inefficient compared to the newer ones available in 2016/2017 when home mining made its comeback.

Sure if you hung on to your gear from 2012/2013 you would have made some additional profits in 2016/2017, but you would have made more money by selling your gear off back in 2014 when it still had value and with that money either bought coins directly when they were cheap or invested in newer cards in early 2016 when mining started becoming profitable again. Mining is cyclic which seems to take 4-5 years to work through the entire boom/bust phase, well GPU technology and efficiency changes quite a bit in those 4 to 5 years to expect your old hardware to compete when the new cycle hits.

So yes in 5 years we will be hearing the same thing and people will be home mining, but they will be mining with new GPUs not even available yet that will outperform your current cards by 2-3 times. I also say sell them off now while they still may have some worth and either save the money for new cards in 1-2 more years, or better yet just buy some coins outright while they are cheap and just hang on for the next cycle.

You my friend are not wrong. Thats exactly the move to have made in 2014, and this is that all over again.

I'm debating the wisdom of selling off the last of my GPUs right now. Gotta keep a few for free heat at least. I probably will sell whats left though and buy/hold BTC with that money. When things start to take off again in 6mo-2 years I'll buy back in with better gear and be able to afford 2 to 1 what I have right now.

gotminer

member

Activity: 644

Merit: 24

Quote from: Piskeante on November 14, 2018, 06:25:30 AM

I had two rigs with 12 GPU total. 377mh/s. i shut them down like 4 months ago.

Every month i make my calculations, considering the price of the coin, electricity costs, and heat related issues (specially where i live because it's hot here in Spain).

Reality matters the most for me.

1º i DO NOT THINK THIS MARKET WILL RECOVER

2º There will be NO BULL RUN IN DECEMBER.

3º ETH is not doing well, no important projects are making contracts with it, and the amount of money received by smart contracts is not being said, so if the one that has to "pump" the hype among investors, is not doing it, just put yourself in the worst scenario possible.

if i had been mining during the last 4 months, i would have payed something around 340$ only for the machines, every two months, so 680$ of electricty generated by machines, but generating around 0,70-0.80 ETH a month, i would have lost around 7 $ a month if i sold for cash to pay bills WITH NO GARANTEE THAT HOLDING I WOULD DO BETTER.

So for me, the decision to stop machines WAS A VERY GOOD DECISION. For me, this market is dying and it's obvious.

You got in it for the wrong reasons.

Za1n

legendary

Activity: 1078

Merit: 1011

Quote from: Exoskeleton on November 14, 2018, 02:59:29 PM

Quote from: Indamuck on November 14, 2018, 08:06:46 AM

It's already over for the home miners, the only people making big profits are the giant farms with extremely low electricity. It was fun while it lasted but I suggest selling off your GPUs before they become worthless. Maybe if you have solar power or really cheap electricity you can continue mining but for most people it is not worth it anymore in the slightest.

I have to say, this was exactly the mantra back in 2012/2013. For real.

Yet here we are. I bet we will be hearing the same thing in 5 years, yet people will still be mining at home for a small profit.

It might have been the mantra but that doesn't make it incorrect. The GPUs used back in 2012/2013 would have been very inefficient compared to the newer ones available in 2016/2017 when home mining made its comeback.

Sure if you hung on to your gear from 2012/2013 you would have made some additional profits in 2016/2017, but you would have made more money by selling your gear off back in 2014 when it still had value and with that money either bought coins directly when they were cheap or invested in newer cards in early 2016 when mining started becoming profitable again. Mining is cyclic which seems to take 4-5 years to work through the entire boom/bust phase, well GPU technology and efficiency changes quite a bit in those 4 to 5 years to expect your old hardware to compete when the new cycle hits.

So yes in 5 years we will be hearing the same thing and people will be home mining, but they will be mining with new GPUs not even available yet that will outperform your current cards by 2-3 times. I also say sell them off now while they still may have some worth and either save the money for new cards in 1-2 more years, or better yet just buy some coins outright while they are cheap and just hang on for the next cycle.

Exoskeleton

sr. member

Activity: 338

Merit: 251

Quote from: Indamuck on November 14, 2018, 08:06:46 AM

It's already over for the home miners, the only people making big profits are the giant farms with extremely low electricity. It was fun while it lasted but I suggest selling off your GPUs before they become worthless. Maybe if you have solar power or really cheap electricity you can continue mining but for most people it is not worth it anymore in the slightest.

I have to say, this was exactly the mantra back in 2012/2013. For real.

Yet here we are. I bet we will be hearing the same thing in 5 years, yet people will still be mining at home for a small profit.

ximae

newbie

Activity: 18

Merit: 0

I stopped mining in july, too little profit to deal with the heat, and sold most of of my gpus. I kept a couple, one at each location i mine ( home and work). I just started again with them, its getting colder now so its basically free heating and a small 1$ day profit ( a 1080ti can basically still do like 50c day after electricity) after 0.12 electric cost. which i basically just trade for btc and hodl it in case sometime the next couple of years it takes off again.

once it starts getting warmer again ill stop unless the situation has changed drastically.

dagarair

sr. member

Activity: 847

Merit: 383

i have a bunch of rigs and just bought 50 more 8 cards rigs for cheap because I am that confident in crypto. I also just bought 70 more L3 for cheap. Is it a risk, of course it is. I think its a good calculated risk. If you don't that's cool I respect your decision but I ask you to respect mine as well.

dhmctrader

newbie

Activity: 49

Merit: 0

Quote from: GGurol on November 14, 2018, 04:56:06 AM

You guys are very very lucky.
I pay about $1.11/Kwh

Where is this? I couldn't afford to eat let alone mine crypto.

umine

full member

Activity: 405

Merit: 136

Quote from: RMBlockchain on November 13, 2018, 10:37:27 AM

Are you profiting with ETH or other Altcoins?

Whats your outlook?

How are the big boys doing... are you one of them? what's the electricity to profit ratio/conversions?

Mining still profitable. Even WTM shows that operational cost below 0.15 $\kWh gives some profit for mining. Just about 20% above spent money but it's still profit. In the case you check new perspective projects and fine tune your mining machines the profit could be more. Is it difficult now to buy and run new mining machines? Of course, yes. Though each investment in silent period is risky.

swogerino

legendary

Activity: 3318

Merit: 1247

Bitcoin Casino Est. 2013

I only have one low power consumption mining computer with 6 cards. I do manage a few rigs for my colleagues and they have turned off their rigs. I told them to continue to mine hoping for a better outlook than these quiet months but they refuse to because unfortunately they don't believe anymore on a recovery.

I do believe so I am still mining at my home for fun now but who knows what happens to the price of bitcoin after sometime and I am conserving every mined reward.

vapourminer

legendary

Activity: 4354

Merit: 3614

what is this "brake pedal" you speak of?

Quote from: Exoskeleton on November 14, 2018, 06:37:17 AM

Let me put it this way. I remember people saying mining was "dead" all over here in late 2012. Yet here we are.

yeah i mined btc on a few gpus at just over break even cost ~2012 and hodled. paid off nice later. of course past results dont mean anything today. but it worked then.

now? who knows. if a rig is paid for and its mining at or better than electric, why not keep it chugging along.

EDIT: im not in the big boy club, just a hobby miner.

Indamuck

hero member

Activity: 1120

Merit: 554

It's already over for the home miners, the only people making big profits are the giant farms with extremely low electricity. It was fun while it lasted but I suggest selling off your GPUs before they become worthless. Maybe if you have solar power or really cheap electricity you can continue mining but for most people it is not worth it anymore in the slightest.

Plso

newbie

Activity: 6

Merit: 0

My electricity is about 0,05 $ per kWh
Maybe it's time to move to Slovakia - heart of Europe

Exoskeleton

sr. member

Activity: 338

Merit: 251

Let me put it this way. I remember people saying mining was "dead" all over here in late 2012. Yet here we are.

Want to make a bet you won't still be here in another 4-5 years?

Piskeante

member

Activity: 924

Merit: 15

I had two rigs with 12 GPU total. 377mh/s. i shut them down like 4 months ago.

Every month i make my calculations, considering the price of the coin, electricity costs, and heat related issues (specially where i live because it's hot here in Spain).

Reality matters the most for me.

1º i DO NOT THINK THIS MARKET WILL RECOVER

2º There will be NO BULL RUN IN DECEMBER.

3º ETH is not doing well, no important projects are making contracts with it, and the amount of money received by smart contracts is not being said, so if the one that has to "pump" the hype among investors, is not doing it, just put yourself in the worst scenario possible.

if i had been mining during the last 4 months, i would have payed something around 340$ only for the machines, every two months, so 680$ of electricty generated by machines, but generating around 0,70-0.80 ETH a month, i would have lost around 7 $ a month if i sold for cash to pay bills WITH NO GARANTEE THAT HOLDING I WOULD DO BETTER.

So for me, the decision to stop machines WAS A VERY GOOD DECISION. For me, this market is dying and it's obvious.

kaisoul

brand new

Activity: 0

Merit: 0

Great project

GGurol

member

Activity: 112

Merit: 31

Quote from: Bamsed on November 14, 2018, 04:05:29 AM

I have similar GPU. But my electricity price is about $0.18/Kwh. I mine at loss now, just use the heat to warm my room.

Quote from: badbart on November 13, 2018, 09:18:21 PM

What are you guys paying in electricity? You have to have low overhead in this market to last. I lucked out and pay $.049 a KWH.

You guys are very very lucky.
I pay about $1.11/Kwh

Thinking about a long term project. Solar system on my farm. 9-10 months open sun in my land.
Just working on a feasibility right now. Let's see. MAybe I can sell my rigs too if the market goes start a bull run again.
Dont know.

Bamsed

member

Activity: 120

Merit: 10

Quote from: adaseb on November 13, 2018, 08:58:15 PM

I've been mining for a few years and only down to my most efficient GPUs which are the RX series and they are heavily undervolted and heavily underclocked and they turn a profit but very little. At this point I am just hodl'ing the ETH until the issuance reduction in January and then going to most likely package up the GPUs and sell them in a year or so when the second hand prices of the GPUs start to rise.

There is also the chance that there might be some crazy FOMO and ETH might go to $1000 very quickly and the profits of $1-2 per day per GPU will be back but I am not counting on it happening soon.

Its not worth mining for 10 cents a day, rather just power off the GPUs.

I have similar GPU. But my electricity price is about $0.18/Kwh. I mine at loss now, just use the heat to warm my room.

canaveralnonie

full member

Activity: 518

Merit: 111

Dota2

Better to find a good location or country that has a least value of electricity bills, it will not profitable if they still doing that on expensive payment source of electricity. That's why some miners find a alternative way like solar energy and etc.

Topic: is it still profitable? How many rigs do the big boys still have... - page 2. (Read 1307 times)