Topic: Mining Unprofitable - What next? (Read 2290 times)

Historically mining and selling during a bear market was never a good idea.

Bitcoin had many bear markets and the true hodl'ers mined and kept all their precious BTC throughout and years and they sold it during a bull market.

This is no different than mining last November where ETH profits were less than optimal. If you only held 2 more months you could of sold at $1400.

Keep in mind, when you are selling your ETH, obviously someone is buying it. And they are buying it to sell at the next ATH.

I have some profit from mining. Every 100 mh gives me about 50 dollars per month at the moment while mining Ethereum. I think that in few months it will have better price.

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If your mining and not selling asap then you are not doing it with your best intentions in mind.  Do what’s best for you is what crypto is about.  Be your own bank.  Fuck relying on others to be the determining factor as to whether I make it or not.  That’s what your doing by mining and holding coins. Hoping that others will come along and give a boost to your profits.  I say mine and sell immediately. The juice isn’t worth the squeeze as I like to say.  The risks far outweigh the rewards in this game. 

One more thing.  It’s not even the money I invested that burns my ass.  It’s the countless hours being up through the night worrying about whether I had anything left to my name.  Pump and dump overnight has ruined so many.  Checking on miners staying up t date on code etc. I gave it my all to help support the network.  I even overlooked technical flaws hoping that it would flourish.  I see now crypto has become a rich mans trick.  Mostly run by Bitmain.  If that doesn’t turn you off then you don’t understand what was trying to be done with crypto.  And that’s a sad story in itself

I don't understand mining at loss too.  If you believe in future of crypto you should buy at market price, instead of mining at loss.  You can buy more coins for the money than mining it.

I have a bit of issue on the smart people mining at a loss.  They only look smart if this actually recovers.  What will you say of them if the price dumps to 0.  Anyway I shouldn’t have said mining is dead your right there.  Mining with possibility of roi and turning a small profit is dead.  Unless you can dump millions into it. So again this goes right up to those with money.  Yes crypto has a long long hard road ahead of it.  It’s ideals are falling on its face

Not really. The mining is not yet dead. There are persons who believe in it. They mine even at a loss and they pay the electricity bill because they look into a greater picture which is the long term profitability of the cryptos. I believe that the market will recover soon and smart people will be the ones who never stopped mining no matter the problems you pose in your post.

The only future for mining is at scale. https://bitinfocharts.com/comparison/bitcoin-mining_profitability.html  The trend of all mineable coins tell the real story here. Stop lining the pockets of these asic manufacturers. They understand this all too well.  I really think that this project could fall on its face. Yes some good things came from crypto but all in all I think we seen our ath.  ESP with it being a 2-3 year bear market this will be the end of most at home miners.  Unless your not paying the power bill. But someone has to right?   Your robbing peter to pay Paul at that point.  I’ve learned my lesson.  Try to take on the established system and you get a good hard slapping.  Right where it hurts the most. Your money. Or in another words your ability to live and eat is in jeopardy.  Yea they will say don’t invest more than you can afford to lose.  Damn were they right.  Cuz when it’s manipulated to the nth degree you are guaranteed to lose your ass.  Don’t be a rube to this system.  Mining is dead.  And if crypto really depended on decentralization like they all want you to believe then some if not all these coins should be worthless.  But as in this crazy world what’s right is wrong and what’s wrong is right so I expect nothing less here.  Just a great smoke screen to part people of their money.  It’s really a damn shame.  

I Agree some one pays it, i dislike using the term " Free electricity" because i know some one pays it one way or the other so it's not free even if you have renewal it's not free and in most states in the US if you live here by law you can't go off grid.

I have solar and save any were from 20 to 110 a month on Electricity depends on the weather and time of year, an i mine with four rigs and run a few outdated ASIC miner from time to time using solar and use more Electricity now and pay less. to me there full of it to ...I'm on grid were I live have to be by law i can't go off grid. my whole house is on solar.


Solar is cheat, unless you don't shop around . I hate to see others mislead others to  ...

an my power company is greedily an asking my state to raise rates for there investor get that there investor the power company doesn't need it but there backer do,greedily fucker.

solar was cheaper in the US and going down till trump put that lame ass import/export tax on it. on if they don't want to put solar on there house join a solar farm an save in most states you can, if you live in the US some states have to offer it the power company can't stop it by law,they do try though by trying to make some states charge a solar tax by lobbying.
The US is so Corrupt right now it's not funny, none of those trying to take out the US need the money it's BS if they say things cost to  much it's there greedy Corrupt ways that fucks us that includes mining and gear .

There are still months away before FPGA being widely used.  The popular models are running into supply problem, and the mining software is limited so only handful of algo can be mined at the moment (except those programmed privately). 
I would say same goes to the new GPU, the supply will be very limited in the first few months.  You won't be in a huge disadvantage until a year later if you mine with current generation of GPU.

Sell the rigs before the price crash further, its already unprofitable before FPGA comes to market. I wonder what happen when it does.

it's easier to speculate. production has become too expensive and unjustified. for half a year of mining you can trade so much!

if you look at the fact that people don't always understand what you are doing, maybe not the price of production of a thing))) joke

Sadly, you're wrong. There will be new cards in the market so technically there would be a huge gap between the new cards and older cards in terms of hashrate/power cost profitability. The Pascal cards will soon become not profitable for mining.

Well if you're not careful you'll still blow something up but if you do you're research, power from the sun aint bad.

Use Lithium-ion or newer chemistries, you'll get quite a few years and 80%+ DoD, no  battery changing
Panels made in 2013+ degrade 10% after 6+ years and are rated to produce at least 80% after 20+ years or replaced free under warranty.


If you grid tie with solar you can usually negotiate time of day rates and negotiate <0.06/kW at night depending on the area.

Yea non-1:1 net metering is a huge rip off. gotta email your local politician to vote against that shit.

Well my reply was for off-grid, grid tied totally eliminates the battery if done correctly, many power providers offer the service however most want to buy your electricity for much less than what they sell to you, they are such trolls hehe

This is why new solutions like GRID-TIED solar arrays are more profitable and easier to maintain. Just freakin plug the inverter into your normal circuit and you are good to go. I feel that solar setups using batteries are not profitable and are for those doomsday preppers who expect the whole world to explode.

Solar can be profitable, if you know what you are doing.

How much are you asking for it?

You have to change the battery often, it will last only few cycles, your 2 years is misleading, more like 10 years if you pay $0.10 per khw and 20 years if $0.20 per khw. Panels last only 10 years or so, some trolls say 20 years which is also misleading cause  okay 20 years and 30% of what used to offer at beginning, panels degrade with time, you have to change them. There is no end to solar power maintenance.