A friend got me started in mining about 2 months ago before eth, etc took way off. A single 580 was making about ~$1.75 a day when I first started and it was a hobby that didn't loose money... I played with it for a few weeks and picked up a few more 580s before they all dissapeared.
I would have to write it all out, but I'm fairly certain my 4 580s have already ROIed.
What's everyone's plans after the money train has left, derailed and everything onboard is DOA?
I wasn't around for the BTC/LTC fall, is it more of mineing different coins every week to hope something becomes valuable, or was there something that could maintain the ~$1/day payrate?
Sir,there is so much altcoins, whats the problem?
The problem is that when eth is no longer profitable, neither will any other altcoin. If you want to know why, do a bit of research and reading on this forum.
I'd take it all with a grain of salt.. everyone is speculating what will happen, and no one has a crystal ball. Sure, we have some historical context, but no one would have predicted this latest BTC surge, which surged the altcoin markets, which fueled the irrational exuberance for Eth.
I think the biggest thing to take away is to be prepared to move quickly, don't get emotional about mining or ROI. And for sure make sure you have plans to exit gracefully, or position your rigs for the next great bull run.
Truth right there.
Haters gonna say mining is dead, but no one knows sh*t. It's all just speculation and hearsay. Do your research, gather facts, be optimistic or not and take your own decision is the only thing anyone can do.
2 things can happen:
1. Mining/profit are indeed over within the next 2 months and all those who sell their hardware now will come on top before everyone sells their cards for 5$
2. This is a phase (what goes up must come down and vice versa) and you need to survive it
For all we know a "new" ETH alternative will rise in a few months.