Mining , still worth it? - page 10. | Bitcointalksearch.org

gwestcot

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Quote from: xs.over on March 29, 2018, 10:20:14 PM

Quote from: SirNeo on March 29, 2018, 10:17:56 PM

$382.74 and counting

Still better than 1 year ago when it was $52.63

You should compare DIFFICULTY too

If we go into a crypto winter a la 2013 then this is what is going to happen. Mining will become unprofitable and people will look to sell all of their rigs/gpu's. The market will get absolutely flooded with GPU's so the price will be half off MSRP or even at a larger discount. The difficulty will then plummet to the floor to the point where an equilibrium is reached and mining is once again profitable. Then the cycle likely starts all over again. The savvy people will buy all of these cheap GPU's, mine with them, and hodl for the next bull market which I don't see coming until the next Bitcoin halving event in 2020. This is just my prediction but man I usually have a knack for predictions.

gwestcot

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Quote from: connic1983 on March 29, 2018, 09:04:06 PM

The level of "this is bad" has reached new levels. I am paying a lot on electricity per kWh and right now I am barely breaking even. ETH is under $400... I am very very close to unplugging...

Send your GPU's to me. What do you have?

xs.over

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Quote from: SirNeo on March 29, 2018, 10:17:56 PM

$382.74 and counting

Still better than 1 year ago when it was $52.63

You should compare DIFFICULTY too

SirNeo

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$382.74 and counting

Still better than 1 year ago when it was $52.63

Marvell2

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Quote from: connic1983 on March 29, 2018, 09:04:06 PM

The level of "this is bad" has reached new levels. I am paying a lot on electricity per kWh and right now I am barely breaking even. ETH is under $400... I am very very close to unplugging...

just breaking even here too if i count my bills , I might actually have to go back to work lol

connic1983

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The level of "this is bad" has reached new levels. I am paying a lot on electricity per kWh and right now I am barely breaking even. ETH is under $400... I am very very close to unplugging...

Metroid

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Xtreme Monster

Quote from: gotminer on March 29, 2018, 07:44:13 PM

I've yet to sell a single coin for fiat. I cover my electricity costs every month from other income. The portfolio of mined coins that I'm holding has certainly dropped in fiat value over the last couple of months, but so be it. I have no issue mining and holding for better days.

Have to keep like that because you only really lose if you sell. The value now is irrelevant cause everything is based on the difficulty of getting such coin and that symbolizes its value. Market will soon rebound and you will get the fiat value it was before plus 1000% or so more. Just need to be patient.

gwestcot

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Quote from: adaseb on March 29, 2018, 06:46:33 PM

I think most will try and sell on eBay or Craigslist.

Basically getting $400 for your GPU is better than mining for 40 cents a day.

They will most likely keep mining until they find a buyer.

I will scoop up any and all 1080 TI rigs that are cheaply priced on ebay. When people are scared that is the time to be bold and when people are exuberant that is the time to be cautious.

WaffleMaster

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Quote from: adaseb on March 29, 2018, 06:46:33 PM

I think most will try and sell on eBay or Craigslist.

Basically getting $400 for your GPU is better than mining for 40 cents a day.

They will most likely keep mining until they find a buyer.

It is all very bad right now that's for sure. Whether people sell their equipment is if they can continue to run in the red for a long time to try and get past this. Maybe there is no getting past it. There's blood in the streets.

gotminer

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Quote from: lolchina on March 29, 2018, 06:28:43 PM

It depends on a lot of factors like electricity price and how much gpus someone have.Someone who arleady roid on his rigs and have like 200 cards making him a 1$ per cards can still live with that amount from mining and can keep runing his rigs while small miners are in trouble now.Also market will bounce back and same will probably happen with mining profits

I don't know what you consider a small miner, but I consider myself a small time miner @ 31 GPU's and I'm in no trouble at all, in my opinion. My rigs have yet to reach 100% capital recovery, but I have zero concerns. I've yet to sell a single coin for fiat. I cover my electricity costs every month from other income. The portfolio of mined coins that I'm holding has certainly dropped in fiat value over the last couple of months, but so be it. I have no issue mining and holding for better days. At some point in the near future, I'll be offloading my lower end gpu's (1070ti's) for cash. At that point, depending on the situation, I'll either buy newer gpu's or directly invest the funds into crypto.

Even at today's low coin prices, electrical cost to run my farm is much much lower than mining profits, if I were converting to fiat daily, which I am not.

adaseb

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Up to 300% + 200 FS deposit bonuses

I think most will try and sell on eBay or Craigslist.

Basically getting $400 for your GPU is better than mining for 40 cents a day.

They will most likely keep mining until they find a buyer.

lolchina

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It depends on a lot of factors like electricity price and how much gpus someone have.Someone who arleady roid on his rigs and have like 200 cards making him a 1$ per cards can still live with that amount from mining and can keep runing his rigs while small miners are in trouble now.Also market will bounce back and same will probably happen with mining profits

Marvell2

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Quote from: QuintLeo on March 29, 2018, 05:38:02 PM

Quote from: Marvell2 on March 29, 2018, 03:05:58 PM

do you know anything about software? They do not eveb have the hybrid pos they have talking about implementing in testnet

Partly wrong - they DO have part of Casper up and running on testnet, though not the full blown implamentation yet.
Last comment I saw from one of the devs was "2 to 3 months for full "hybrid" implimentation on testnet" but they've been known to miss estimated deadlines a LOT.

POS will not kill ETH, just ETH mining - most INVESTORS could not care less about the difference between POS and POW.

finally so sensible discussion, again though this proves my point , 100million coins means nothing if the software is not ready for full POS, I would bet my life that they will not even hit the hybrid POS (Casper) implementation deadline
in 2 months and this doofus is saying mining will end in two months. As a dev myself I would at least want to run the hybrid implementation on live for six months minimum before going to full POS.

If the software is not ready do you think they will care about hitting 100million coins just to stop inflation when they risk destroying thier ecosystem ? hell no

The already reduced the block reward by 2 on the last fork, In hybrid POS block reward will probably go down to 2 or so , but they wont implement it till q4 at the soonest.

Eth will still be mineable for at least a year if not more.

QuintLeo

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Quote from: Marvell2 on March 29, 2018, 03:05:58 PM

do you know anything about software? They do not eveb have the hybrid pos they have talking about implementing in testnet

Partly wrong - they DO have part of Casper up and running on testnet, though not the full blown implamentation yet.
Last comment I saw from one of the devs was "2 to 3 months for full "hybrid" implimentation on testnet" but they've been known to miss estimated deadlines a LOT.

POS will not kill ETH, just ETH mining - most INVESTORS could not care less about the difference between POS and POW.

Piskeante

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Quote from: Marvell2 on March 29, 2018, 03:05:58 PM

Quote from: Piskeante on March 29, 2018, 10:46:05 AM

Quote from: Marvell2 on March 29, 2018, 09:32:23 AM

Quote from: Piskeante on March 29, 2018, 03:40:57 AM

let's be clear about this.

Today, losses are increasing. Do you think any investor is willing to put money into a market that is collapsing??? Think it twice before answering.

That said, ETH PoS is just 2 months from now. Vitalik has repetedly said he will apply PoS once he gets 100 million coins. That will happen very very soon.

Now, what do you think it's going to happen with all those enormous numbers of GPU's mining ETH at the moment? well....if you are not a moron you may know that people will switch to any profitable coin on the market. As there is not a reference like ETH, people will try any coins, increasing enormously the difficulty of the coin, so almost any coin with profit will see increasing their difficulty. If prices continue like this, i can assure you no coin will be profitable once all those ETH cards begin mining other things.

Moreover you have to consider also a point. As it happens to ETH (which is better on AMD cards), many algos benefit NVIDIA, so if you try MONERO, you will have to overclock your card (unless you want to get less coins), but that will also increase your power consumption. Moreover if at that point you have to put to 8pin on your cards like in Sapphire RX 570 and 580 nitro+, which implies making deep changes on your configuration.
overclocking will increase your electricity bill, so at current prices, I think Monero and all coins on cryptonight will be a no go for AMD cards.

That's not considering taxes that governments want to apply. Not considering regulations and laws that would imply other big changes for you.

at the actual point, ETH is not profitable. maybe you can find right now some coins profitable. But once ETH goes PoS, bye bye , because all those alt coins with see their difficulty so increased that will not be profitable at all.

The only solution for ETH PoS and all of you not "main stream miners" is that some coin gets the place of ETH. If that doesn't occur......welll......you know what will happen.

2 months? 😂😂😂 gtfo looney toons

Do you know simple maths? just go to this page https://etherscan.io/stat/supply

See a 24hours period and get the amount of coins generated per day. Multiply and........you'll see it by your own. 100 million coins as said to Vitalik will apply PoS

My argument is clear, is valid, and it's possible. Do you actually have an argument to say that what i say is not gonna happen?? Or the gtfo looney toons is actually you? Huh

do you know anything about software? They do not eveb have the hybrid pos they have talking about implementing in testnet yet let along their full blown pos solution. Sharding and Lightning network is still in beta

which they NEED for scalability and you think they will pos in two months? The software is open source
you can check the bug notes and milestones for your self , at a minumum they are six months away from hybrid pos/pow

your an idiot just spreading fud so yeah gtfo

jajajajaja, ok. so you are telling me that no PoS when ETH gets to 100 million coins. Vitalik has said nothing about HAVING MORE COINS. But you tell me that you know that they have no software to implement PoS, when Vitalik said he only wanted a 100 million coins 1 year ago, time enough to have prepared it.

And then you tell me they will go Hybrid Pos/pow with no f....idea of nothing and you can't asure nothing because noone will believe your baseless ideas. And you tell me that i spread FUD?? jhajajajaja. Your ass should be hot asF.

dimpsk

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Quote from: baga105 on March 29, 2018, 03:15:16 PM

emmm... If ETH goes to POS, eth dies with it. And then.. ETC will be the big boss again

Mark my words

It could be true, I am agree

baga105

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emmm... If ETH goes to POS, eth dies with it. And then.. ETC will be the big boss again

Mark my words

Marvell2

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Quote from: Piskeante on March 29, 2018, 10:46:05 AM

Quote from: Marvell2 on March 29, 2018, 09:32:23 AM

Quote from: Piskeante on March 29, 2018, 03:40:57 AM

let's be clear about this.

Today, losses are increasing. Do you think any investor is willing to put money into a market that is collapsing??? Think it twice before answering.

That said, ETH PoS is just 2 months from now. Vitalik has repetedly said he will apply PoS once he gets 100 million coins. That will happen very very soon.

Now, what do you think it's going to happen with all those enormous numbers of GPU's mining ETH at the moment? well....if you are not a moron you may know that people will switch to any profitable coin on the market. As there is not a reference like ETH, people will try any coins, increasing enormously the difficulty of the coin, so almost any coin with profit will see increasing their difficulty. If prices continue like this, i can assure you no coin will be profitable once all those ETH cards begin mining other things.

Moreover you have to consider also a point. As it happens to ETH (which is better on AMD cards), many algos benefit NVIDIA, so if you try MONERO, you will have to overclock your card (unless you want to get less coins), but that will also increase your power consumption. Moreover if at that point you have to put to 8pin on your cards like in Sapphire RX 570 and 580 nitro+, which implies making deep changes on your configuration.
overclocking will increase your electricity bill, so at current prices, I think Monero and all coins on cryptonight will be a no go for AMD cards.

That's not considering taxes that governments want to apply. Not considering regulations and laws that would imply other big changes for you.

at the actual point, ETH is not profitable. maybe you can find right now some coins profitable. But once ETH goes PoS, bye bye , because all those alt coins with see their difficulty so increased that will not be profitable at all.

The only solution for ETH PoS and all of you not "main stream miners" is that some coin gets the place of ETH. If that doesn't occur......welll......you know what will happen.

2 months? 😂😂😂 gtfo looney toons

Do you know simple maths? just go to this page https://etherscan.io/stat/supply

See a 24hours period and get the amount of coins generated per day. Multiply and........you'll see it by your own. 100 million coins as said to Vitalik will apply PoS

My argument is clear, is valid, and it's possible. Do you actually have an argument to say that what i say is not gonna happen?? Or the gtfo looney toons is actually you? Huh

do you know anything about software? They do not eveb have the hybrid pos they have talking about implementing in testnet yet let along their full blown pos solution. Sharding and Lightning network is still in beta

which they NEED for scalability and you think they will pos in two months? The software is open source
you can check the bug notes and milestones for your self , at a minumum they are six months away from hybrid pos/pow

your an idiot just spreading fud so yeah gtfo

gwestcot

sr. member

Activity: 794

Merit: 272

Quote from: dimpsk on March 29, 2018, 01:56:14 PM

Quote from: Coinseeker22 on March 28, 2018, 03:05:47 AM

I am thinking to put up rig to start up but find it really difficult to invest now a days. With the blowing price of electricity and GPU add up the maintenance of your rig. If this continues what are the possible result for minning in the years to come? Which brings back to the OPs question is it still worth? Dont get me wrong but im just thinking long term.

The only answer - it's not a time to start mining. It's obviously.
Here we discussed another question. It is worth still. Means you already bought a farm and thinking is it worth to continue or not.
Question is much more complicated and the common answer - yep it's hard but still possible. If ya have cheap or better free electricity and a lot of free time.

If you are less than .08 kw/h and are mining for the future rather than immediate profit then yes it is still worth it.

dimpsk

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Quote from: izzy13 on March 29, 2018, 12:54:54 PM

I guess it depends on what coins do we mine. I tend to recommend that we also learn about the prospects of the coins first, since the mining is consume high cost on electrical, hardwares, and times.

Yes, I am agree with this.

Topic: Mining , still worth it? - page 10. (Read 7308 times)