Market Collapse / Mining Profitability

NobodyIsHome

jr. member

Activity: 74

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Quote from: remauto1187ma on March 16, 2018, 03:04:16 AM

Quote from: Raimy on March 16, 2018, 02:41:53 AM

Quote from: lunobird on February 09, 2018, 12:21:40 AM

I will mine even if coin to mine is slightly negative below electric cost. I won't like it but cheaper than paying coinbase fees and it's the best dollar cost average technique

No offense but that logic make no sense what so ever.

At the point your electric costs exceed your mining income, you are better off just buying the coin outright than paying a premium for it. Not only do you end up paying more for the coin, but you also place unneeded wear and tear on your mining rig(s).

Youve forgotten the fact that he is still mining coins and their value will usually go up over time. So he hasnt "lost" anything unless he sells for a loss... Just like the stock market.

Like @Raimy said, if the rig uses up more electricity than it produces in crypto, it is literally cheaper to buy it outright. You'll end up with the same amount of coin (that you can hold) and less money comes out of your wallet up front.

remauto1187ma

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Activity: 234

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Quote from: Raimy on March 16, 2018, 02:41:53 AM

Quote from: lunobird on February 09, 2018, 12:21:40 AM

I will mine even if coin to mine is slightly negative below electric cost. I won't like it but cheaper than paying coinbase fees and it's the best dollar cost average technique

No offense but that logic make no sense what so ever.

At the point your electric costs exceed your mining income, you are better off just buying the coin outright than paying a premium for it. Not only do you end up paying more for the coin, but you also place unneeded wear and tear on your mining rig(s).

Youve forgotten the fact that he is still mining coins and their value will usually go up over time. So he hasnt "lost" anything unless he sells for a loss... Just like the stock market.

Raimy

member

Activity: 140

Merit: 10

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Quote from: lunobird on February 09, 2018, 12:21:40 AM

I will mine even if coin to mine is slightly negative below electric cost. I won't like it but cheaper than paying coinbase fees and it's the best dollar cost average technique

No offense but that logic make no sense what so ever.

At the point your electric costs exceed your mining income, you are better off just buying the coin outright than paying a premium for it. Not only do you end up paying more for the coin, but you also place unneeded wear and tear on your mining rig(s).

Branko

sr. member

Activity: 2632

Merit: 328

I remember people telling me that mining 2 BTC per day with my old graphic card is unprofitable because BTC is only 3 cents, and I spend 10 cents electricity, so I'm 4 cents in red

retard75

jr. member

Activity: 102

Merit: 1

Our religious enthusiasm for mining and the will to go even through negative spans will prolong the suffering. The market can't recover as fast as the difficulty goes up. Too many MiningTards and nobody gives up. It's about sheer survival now. Bwahahahahahaha. *screech*
And the 0.2¢/kWh dudes may just a few weeks ahead of the 0.1¢/kWh miners and so on. Everybody will go red for a while. It's just the beginning. Exciting times.

retard75

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Activity: 102

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Quote from: Metroid on March 15, 2018, 09:52:37 AM

Funny is, many people here use the money they earn on crypto to pay electricity bill which means as price crashes as they get afraid and sell cause they need to cover the electricity bill, so much fun hehe, right now if you pay $0.1 per kw then it means 30% is going to pay the electricity bill, now if you pay $0.2 which is most people around the world then it means 60%.

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30&p=130&fee=2.0&cost=0.2&hcost=440&commit=Calculate

Latest check says a rx 580 30mhs gives you $0.81 per day but is much lower than that, pools never pay what whattomine shows, always 30% less so it means a rx 580 is giving you a return of $0.50 per day and given the rx 580 price of $440 then you return of investment is around 880 days but you need to take into account the cpu, memory ram, power supply, hard drive, so it means you roi is close to 1000 days right now per gpu on eth which is the most profitable coin given whattomine right now. 1000 days is around 3 years.

The good thing is, soon will be plenty of rx 580 for $100 - $170 to buy hehe

hehe.

hous26

full member

Activity: 462

Merit: 115

Quote from: Metroid on March 15, 2018, 09:52:37 AM

Funny is, many people here use the money they earn on crypto to pay electricity bill which means as price crashes as they get afraid and sell cause they need to cover the electricity bill, so much fun hehe, right now if you pay $0.1 per kw then it means 30% is going to pay the electricity bill, now if you pay $0.2 which is most people around the world then it means 60%.

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30&p=130&fee=2.0&cost=0.2&hcost=440&commit=Calculate

Latest check says a rx 580 30mhs gives you $0.81 per day but is much lower than that, pools never pay what whattomine shows, always 30% less so it means a rx 580 is giving you a return of $0.50 per day and given the rx 580 price of $440 then you return of investment is around 880 days but you need to take into account the cpu, memory ram, power supply, hard drive, so it means you roi is close to 1000 days right now per gpu on eth which is the most profitable coin given whattomine right now. 1000 days is around 3 years.

The good thing is, soon will be plenty of rx 580 for $100 - $170 to buy hehe

I pay 0.12 per kw and mining is still very much profitable. I have 16 GPU's that cost me about $4.20 - $4.90 per day to mine with depending on the algo. I'm currently making about $20 per day mining, which is very very low compared to what it was but its nowhere near the 'unprofitable' range.

SCSI2

full member

Activity: 206

Merit: 100

I can't imagine selling off ~~my rigs~~ my babies! But I will at some point. We will all do it sooner or later just in order to keep up with the advancements in GPU tech.

On a serious note, just ask your doc to bump up the dosage of your antidepressant and problem is solved. At least until your elec bill hits 60%... then go ask Metroid for a quick solution

Finally, there is always a good excuse to keep mining no matter what. It's when you are really interested in acquiring a newborn coin which is not obtainable otherwise and the only way to get it is to mine it yourself. [aside from nicehash etc.]

-SCSI

Iannn

jr. member

Activity: 52

Merit: 1

I will just keep mining. I built my rigs and paid them off while the getting was good. I will mine coins I want and let fate do the rest.

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Funny is, many people here use the money they earn on crypto to pay electricity bill which means as price crashes as they get afraid and sell cause they need to cover the electricity bill, so much fun hehe, right now if you pay $0.1 per kw then it means 30% is going to pay the electricity bill, now if you pay $0.2 which is most people around the world then it means 60%.

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30&p=130&fee=2.0&cost=0.2&hcost=440&commit=Calculate

Latest check says a rx 580 30mhs gives you $0.81 per day but is much lower than that, pools never pay what whattomine shows, always 30% less so it means a rx 580 is giving you a return of $0.50 per day and given the rx 580 price of $440 then you return of investment is around 880 days but you need to take into account the cpu, memory ram, power supply, hard drive, so it means you roi is close to 1000 days right now per gpu on eth which is the most profitable coin given whattomine right now. 1000 days is around 3 years.

The good thing is, soon will be plenty of rx 580 for $100 - $170 to buy hehe

maxmeme

jr. member

Activity: 39

Merit: 2

Mining profitability drops in tandem with coin prices. Overall the market is dropping. Only way to get through this is to keep the coins mined or exchange to BTC and keep BTC. This may be a better way to survive through current market conditions as alt coins drop faster than BTC.

Haidong Liang

newbie

Activity: 65

Merit: 0

Quote from: toptek on February 10, 2018, 10:49:56 AM

There is really no Market Collapse / Mining Profitability issue it seems normal to me ups and downs are what mining is all about . right now it seems stable even though BTC price might seem down form the 20k it was at but that's a good thing, it's holding at or around 6 to 8 k stable . that matters more . while the stock market isn't doing so good, i knew/saw that coming .

I normally mine to hold so to me there is no real effect i see .

in fact i just bought a L3 + because the A4 + cost to much for a 100 mh more, i said i would never buy bitmain again an wouldn't have if innosilicon didn't over price there miners so much . I like mining ...

an will keep using my gpu's, A4 not the plus but might sell it for another L3 + or put to a A4 +. .. an buy new stuff as needed and sell off the old stuff as needed . an the A6 is not worth the cost when all it is , is two A4 +'s in one you might be better off looking for single A4 +'s if your a little guy doing it for Fun or work .

May buy one or two V9's from bitmain there at the old s3/S5 price .

Electricity cost no big deal for me and may get even better were looking into solar again so i will be abusing the hell out of it during the day an tone it down at nite some ... if were able to get it this time .

I found the mining profitability of ETH has dropped more than 70% in the last month.

toptek

legendary

Activity: 1274

Merit: 1000

There is really no Market Collapse / Mining Profitability issue it seems normal to me ups and downs are what mining is all about . right now it seems stable even though BTC price might seem down form the 20k it was at but that's a good thing, it's holding at or around 6 to 8 k stable . that matters more . while the stock market isn't doing so good, i knew/saw that coming .

I normally mine to hold so to me there is no real effect i see .

in fact i just bought a L3 + because the A4 + cost to much for a 100 mh more, i said i would never buy bitmain again an wouldn't have if innosilicon didn't over price there miners so much . I like mining ...

an will keep using my gpu's, A4 not the plus but might sell it for another L3 + or put to a A4 +. .. an buy new stuff as needed and sell off the old stuff as needed . an the A6 is not worth the cost when all it is , is two A4 +'s in one you might be better off looking for single A4 +'s if your a little guy doing it for Fun or work .

May buy one or two V9's from bitmain there at the old s3/S5 price .

Electricity cost no big deal for me and may get even better were looking into solar again so i will be abusing the hell out of it during the day an tone it down at nite some ... if were able to get it this time .

The Demon Slick

newbie

Activity: 182

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Quote from: Riptide_NVN on February 10, 2018, 09:51:22 AM

Quote from: Tidsdilatation on February 10, 2018, 07:48:12 AM

I dont think many ppl sell their mined coins instantly. Atleast i hope they dont Grin

When the market takes a dive you just dont sell the mined coins, we all know it will go back up again. I hate when ppl talk about "daily profits" etc in mining, becourse you sell on ATHs etc to get the most out of your mining.

A lot of people I think prefer to take what they can get when they can get it especially those who are doing this to pay all their bills and need the liquidity. Quite a lot of alt coins are bad long term investments and everyone knows it. They don't want to get caught holding the bag so they get rid of it quickly.

The unpredictability of it makes things difficult and you really need to know what you're doing to be able to know the difference between something that sounds great but has no real use case or long term value and something that does. A lot of people like myself here who just got started within the last few months and honestly don't know - so they tend to stick with nicehash or trading off what they mine immediately.

I'm not smart enough to know what will take off, so I'm grabbing a thousand each of every new cheap thing that comes along. Most will be useless, but I only need one to take off. I don't see mining for daily/weekly income as a good plan, at least not for me. If I wasn't such a hoarder I could have made money on a bunch of things I'm holding, but then I wouldn't be holding them anymore. I like cheap coins because it's a lot more satisfying to get 60 etn than it is to get .00001 eth for some reason. And it's easy for a cheap coin to go up 5 cents, ten cents. A 20 cent coin at a thousand coins is still 200 dollars. At 25 cents it's 250. Of course, if you sold it at 6 cents, it's price when you mined it, you only get 60 dollars. I think even people chasing a weekly income should be holding thier mined coins, looking for the right spot to sell, don't just mindlessly cash out every week. It's not like it takes a long time, a 5 cent or ten cent coin can double in a week or two.

Riptide_NVN

member

Activity: 294

Merit: 16

Quote from: Tidsdilatation on February 10, 2018, 07:48:12 AM

I dont think many ppl sell their mined coins instantly. Atleast i hope they dont Grin

When the market takes a dive you just dont sell the mined coins, we all know it will go back up again. I hate when ppl talk about "daily profits" etc in mining, becourse you sell on ATHs etc to get the most out of your mining.

A lot of people I think prefer to take what they can get when they can get it especially those who are doing this to pay all their bills and need the liquidity. Quite a lot of alt coins are bad long term investments and everyone knows it. They don't want to get caught holding the bag so they get rid of it quickly.

The unpredictability of it makes things difficult and you really need to know what you're doing to be able to know the difference between something that sounds great but has no real use case or long term value and something that does. A lot of people like myself here who just got started within the last few months and honestly don't know - so they tend to stick with nicehash or trading off what they mine immediately.

darasinmi4show

member

Activity: 406

Merit: 10

The price us really going up and Down every time I really don't know what is the problem on trade now. I believe that market will be better very soon.

Mike011

full member

Activity: 312

Merit: 104

As long as im making more than electricity costs.

Tidsdilatation

sr. member

Activity: 518

Merit: 250

I dont think many ppl sell their mined coins instantly. Atleast i hope they dont Grin

When the market takes a dive you just dont sell the mined coins, we all know it will go back up again. I hate when ppl talk about "daily profits" etc in mining, becourse you sell on ATHs etc to get the most out of your mining.

Haidong Liang

newbie

Activity: 65

Merit: 0

Quote from: eyeflip on February 06, 2018, 02:13:30 AM

if eth hits 500, I'm gonna give my rigs a couple days vacation, and reevaluate my path forward, electricity is not cheap by me unfortunately

How much is your electricity price? If it is below $0.1/kWh, it is still profitable at current coin prices.

lunobird

full member

Activity: 846

Merit: 115

I will mine even if coin to mine is slightly negative below electric cost. I won't like it but cheaper than paying coinbase fees and it's the best dollar cost average technique

Topic: Market Collapse / Mining Profitability (Read 1271 times)