Looking ahead and what to do when ETH isn't profitable....

ChrisCollins322

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Activity: 98

Merit: 10

Bitcointalk community manager

Quote from: whitrzac on June 25, 2017, 10:56:43 PM

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. Tongue

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?

u know, 50 is too old version. If u r rly interested in makin money using mining, then u need update ur devices

h311m4n

sr. member

Activity: 487

Merit: 266

Quote from: puwaha on June 26, 2017, 01:42:58 PM

Quote from: poby on June 26, 2017, 04:46:56 AM

Quote from: ChrisCollins322 on June 26, 2017, 03:34:04 AM

Quote from: whitrzac on June 25, 2017, 10:56:43 PM

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. Tongue

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.

AmDD

legendary

Activity: 1027

Merit: 1005

Wait and see, then make your own decisions.

Way back when you were just a young pup and Litecoin was still GPU mineable, I built 4 rigs to mine, I did until Litecoin gained ASICs at which point I switched to Feathercoin and some other random coins just looking for profit. After awhile I shutdown and the rigs were off for about a year. Then I sold two. Today my other two rigs are mining again (at a profit).

Sometimes its ok to sell out and make a profit and sometimes its ok to sit and wait for another coin. Sometimes neither is a good option.

Your best bet is to stay active in the forums and do the math yourself on profitability.

Mormyr

newbie

Activity: 17

Merit: 0

Quote from: Aquazi on June 26, 2017, 02:40:18 PM

For ETH to be unprofitable, if you pay 0.22 $ kW/h you need to make less than a dollar a day mining.

Don't search, people got too greedy... I started mining when profitability was at 0,4$/day and kept since then. It never has been as profitable as it is now. Do not let the profits going to China so keep mining !

Aquazi

full member

Activity: 215

Merit: 100

For ETH to be unprofitable, if you pay 0.22 $ kW/h you need to make less than a dollar a day mining.

puwaha

sr. member

Activity: 700

Merit: 294

Quote from: poby on June 26, 2017, 04:46:56 AM

Quote from: ChrisCollins322 on June 26, 2017, 03:34:04 AM

Quote from: whitrzac on June 25, 2017, 10:56:43 PM

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. Tongue

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.

poby

full member

Activity: 258

Merit: 104

Quote from: ChrisCollins322 on June 26, 2017, 03:34:04 AM

Quote from: whitrzac on June 25, 2017, 10:56:43 PM

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. Tongue

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.

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: ChrisCollins322 on June 26, 2017, 03:34:04 AM

Quote from: whitrzac on June 25, 2017, 10:56:43 PM

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. Tongue

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?

I weep for the future.

ChrisCollins322

member

Activity: 98

Merit: 10

Bitcointalk community manager

Quote from: whitrzac on June 25, 2017, 10:56:43 PM

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. Tongue

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?

VyprBTC

full member

Activity: 350

Merit: 100

Quote from: whitrzac on June 25, 2017, 10:56:43 PM

... plans after the money train has left, derailed and everything onboard is DOA?

chohav

sr. member

Activity: 251

Merit: 250

Quote from: thesmokingman on June 25, 2017, 11:51:45 PM

Quote from: adaseb on June 25, 2017, 11:07:07 PM

Sell GPUs on eBay

I'll be waiting to buy them for pennies on the dollar just like I'm sure you will be too lol...

Same here

saving money for buying gpus on ebay in the next months.

thesmokingman

full member

Activity: 212

Merit: 100

Quote from: adaseb on June 25, 2017, 11:07:07 PM

Sell GPUs on eBay

I'll be waiting to buy them for pennies on the dollar just like I'm sure you will be too lol...

adaseb

legendary

Activity: 3808

Merit: 1723

Sell GPUs on eBay

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

You only lose if you sell, so hold till eth rises again by at least 90% and then you can sell.

whitrzac

member

Activity: 126

Merit: 10

90*c is good, right?

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. Tongue

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?

Topic: Looking ahead and what to do when ETH isn't profitable.... (Read 1293 times)