Pages:
Author

Topic: Mining Unprofitable - What next? - page 2. (Read 2290 times)

e97
jr. member
Activity: 58
Merit: 1
August 16, 2018, 06:59:02 PM
#62
These are just cheap Chinese panels. You do realize that to get stable electricity working you need a shitload of other expensive stuff? Batteries and all the controlling electronics etc. Solar power is not cheap, it's one of the most expensive ways to get electricity at the moment actually. People that go for it are mostly interested in being "off the grid", doing a fun tech project, and trying to be eco-friendly. No one in their right mind switch to solar power to save on electricity bills, cause solar is way more expensive than other sources in most parts of the world.

So true and like you said, mainly off-grid cause is stupid going solar if you pay less than $0.20 per khw but i guess some people will never understand what you said because for them once they break even they get free power which is a lie cause there a constant maintenance for that electricity and in the end is tends to be a lot more expensive than most power providers offer and a lot more work, mining is the same thing, too much work for peanuts right now, why mine while you can buy coins cheaper than you would pay to produce, these prices will not last long cause the people selling right now are losing everytime they sell/cash out for usd or other currency.

Don't spread FUD.

If your'e scrappy and hustle you can get an 8kW array (US or EU panels) with hybrid inverter + mounting for $8000 USD. The battery depending on chemistry will be another $2000 - $6000 - also factoring in sizing, depth of discharge, etc.

Theres no maintenance if you install properly, maybe occasionally dusting off the panels if your climate is like that.

The payback ~2 years at 95%+ utilization if you're paying $0.10/kW from the utility
full member
Activity: 216
Merit: 100
August 16, 2018, 06:37:11 PM
#61
There are over supply of GTX Cards in the market. I highly suggest to sell it the lowest price possible(Competition Wise). Because you'll never knew the next day, the price you're trying to sell it, looks over price to others. I'm one of GTX 1070 holder here that has been selling it for month. No luck at all.

I will keep my cards as there could be a sudden rise of mining profit if the market turns.
sr. member
Activity: 728
Merit: 252
Healing Galing
August 16, 2018, 06:17:50 PM
#60
There are over supply of GTX Cards in the market. I highly suggest to sell it the lowest price possible(Competition Wise). Because you'll never knew the next day, the price you're trying to sell it, looks over price to others. I'm one of GTX 1070 holder here that has been selling it for month. No luck at all.
sr. member
Activity: 2142
Merit: 353
Xtreme Monster
August 16, 2018, 06:13:07 PM
#59
These are just cheap Chinese panels. You do realize that to get stable electricity working you need a shitload of other expensive stuff? Batteries and all the controlling electronics etc. Solar power is not cheap, it's one of the most expensive ways to get electricity at the moment actually. People that go for it are mostly interested in being "off the grid", doing a fun tech project, and trying to be eco-friendly. No one in their right mind switch to solar power to save on electricity bills, cause solar is way more expensive than other sources in most parts of the world.

So true and like you said, mainly off-grid cause is stupid going solar if you pay less than $0.20 per khw but i guess some people will never understand what you said because for them once they break even they get free power which is a lie cause there a constant maintenance for that electricity and in the end is tends to be a lot more expensive than most power providers offer and a lot more work, mining is the same thing, too much work for peanuts right now, why mine while you can buy coins cheaper than you would pay to produce, these prices will not last long cause the people selling right now are losing everytime they sell/cash out for usd or other currency.
legendary
Activity: 1106
Merit: 1014
August 16, 2018, 05:22:27 PM
#58
https://ebay.us/ZbWsl0

Got me thinking cause power is valuable with or without mining...guess like 3 or 4 years break even...self install and maintain is no problem

One thing we got in Texas is good sun.
These are just cheap Chinese panels. You do realize that to get stable electricity working you need a shitload of other expensive stuff? Batteries and all the controlling electronics etc. Solar power is not cheap, it's one of the most expensive ways to get electricity at the moment actually. People that go for it are mostly interested in being "off the grid", doing a fun tech project, and trying to be eco-friendly. No one in their right mind switch to solar power to save on electricity bills, cause solar is way more expensive than other sources in most parts of the world.
newbie
Activity: 49
Merit: 0
August 16, 2018, 05:06:13 PM
#57
Are you guys going to hold on to your machines or start selling?  Turn off for now and wait it out?

It's only unprofitable because of electricity costs. So, eliminate your electric costs and go solar. After you break even, it's all profit from there!

Solar is okay-ish but it takes a lot of panels and a lot of batteries to provide for a good-sized GPU mining operation.  I'm still looking for an ideal power production solution.  Maybe there would be some incorporation of hydr, solar, wind, etc in order to produce say 10K watts continuous or more of power independently and off the grid.  Let me know when the price for installation of something like that gets down to about $1 per watt continuous (i.e. $10K for 10Kwatts continuous power)

Maybe by the year 2050?

https://ebay.us/ZbWsl0

Got me thinking cause power is valuable with or without mining...guess like 3 or 4 years break even...self install and maintain is no problem

One thing we got in Texas is good sun.
newbie
Activity: 2
Merit: 0
August 16, 2018, 04:41:53 PM
#56
I am focusing on market psychology, and where digital currency markets are trending.

Unless the carbon footprint can't be lowered somehow, then I wouldn't consider the hardware to be obsolete.

I am focused on efficient mining, along with an attached regressive value.
legendary
Activity: 2296
Merit: 1031
August 16, 2018, 04:02:12 PM
#55
Are you guys going to hold on to your machines or start selling?  Turn off for now and wait it out?

It's only unprofitable because of electricity costs. So, eliminate your electric costs and go solar. After you break even, it's all profit from there!

Solar is okay-ish but it takes a lot of panels and a lot of batteries to provide for a good-sized GPU mining operation.  I'm still looking for an ideal power production solution.  Maybe there would be some incorporation of hydr, solar, wind, etc in order to produce say 10K watts continuous or more of power independently and off the grid.  Let me know when the price for installation of something like that gets down to about $1 per watt continuous (i.e. $10K for 10Kwatts continuous power)

Maybe by the year 2050?
copper member
Activity: 62
Merit: 2
AIOMiner.com
August 16, 2018, 03:08:58 PM
#54
Are you guys going to hold on to your machines or start selling?  Turn off for now and wait it out?

It's only unprofitable because of electricity costs. So, eliminate your electric costs and go solar. After you break even, it's all profit from there!
sr. member
Activity: 1008
Merit: 297
Grow with community
August 16, 2018, 10:36:43 AM
#53
Turned off my rigs yesterday. Mining does not pay anymore.

Truly we are seeing a lot folks shutting down rigs

unless the price goes up some machines could go rest

this bear market pours blood unto miners profit

Hope a pump for the new arrival of hardwares



newbie
Activity: 40
Merit: 0
August 16, 2018, 09:15:11 AM
#52
I said "make free electricity"
in the word "make" that is where you pay (invest).
you can "make" all that is required (cables, alternators, buildings, etc.) by your own strength.
If the case is like this then you "buy = pay" with your strength/energy.
or you can buy (use money) everything you need and pay people to do it, then you "buy it = make it" with your money.
This makes no sense. There are no ways to "make free electricity", not even cheap electricity. Solar electric systems are way more expensive than what standard electricity providers charge in most parts of the world, last time I looked into it the ROI on the equipment was 10-20 years or something at best, and even after that you're not getting "free" electricity with solar since you'll have to do regular maintenance and replace batteries and other components on regular basis. And converting petrol or some natural gas into electricity is also never cheap (and certainly not free). The only way to get "free" electricity is to steal it, but even that is obviously not free (and just a stupid business decision in general considering the risks involved).

please understand my words carefully
I tried to say that "make" = "buy/pay", to clarify the use of the word "free".
And yes, solar power is not free even if you can make all the components by yourself, you still have to exchange them for your energy.
Or even if your grandmother gives you a piece of cake it is also not really free because you have to pay it with your sweet smile.
but what I mean is that if you interpret the word "free" very critically, the word "free" doesn't need to be in this world.

As far as I understand, the use of the word "free" is not like that.

I do not feel guilty if I say : "hey, I found a cool site that gives free bitcoin, check this https://freebitco.in "
(unless there is a rule that prohibits this in this forum, but I don't know because I'm a newbie.)
Then you say : "it's not free, we still have to move our fingers to solve the captcha"
full member
Activity: 312
Merit: 104
August 16, 2018, 06:05:31 AM
#51
Turned off my rigs yesterday. Mining does not pay anymore.
full member
Activity: 487
Merit: 101
August 16, 2018, 05:50:57 AM
#50
it depends to what project you are mining.. if you are mining a coin that you think its unprofitable then you are so dumb lazy to mine that coin.. its much better to find a new coin that is really profitable Tongue
member
Activity: 168
Merit: 24
August 16, 2018, 05:48:22 AM
#49
Its still profitable. In any investment (not in crypto world only), depreciation and setup expenses should be counted as a cost for calculating the profitability. Only you can calculate repair/maintenance, electritic and if exist time*costs expenses.
Even in low market, for eample ETH still enough profitable.
sr. member
Activity: 2142
Merit: 353
Xtreme Monster
August 16, 2018, 05:46:09 AM
#48
This makes no sense. There are no ways to "make free electricity", not even cheap electricity. Solar electric systems are way more expensive than what standard electricity providers charge in most parts of the world, last time I looked into it the ROI on the equipment was 10-20 years or something at best, and even after that you're not getting "free" electricity with solar since you'll have to do regular maintenance and replace batteries and other components on regular basis. And converting petrol or some natural gas into electricity is also never cheap (and certainly not free). The only way to get "free" electricity is to steal it, but even that is obviously not free (and just a stupid business decision in general considering the risks involved).

So true and even if somebody steal it, somebody else will pay the bill.
jr. member
Activity: 208
Merit: 3
August 16, 2018, 05:11:29 AM
#47
Something tells me that FPGA mining is still very profitable and brand new to the scene.  The devices cost a lot up front, but it's the future of mining with prices dropping and electricity costs being so high...... I even hear some countries have outlawed crypto mining.

It was once a long long time ago ... FPGA´s are used for Bitcoin mining.
sr. member
Activity: 578
Merit: 250
August 16, 2018, 04:54:18 AM
#46
Something tells me that FPGA mining is still very profitable and brand new to the scene.  The devices cost a lot up front, but it's the future of mining with prices dropping and electricity costs being so high...... I even hear some countries have outlawed crypto mining.
jr. member
Activity: 208
Merit: 3
August 16, 2018, 04:40:09 AM
#45
I´m so happy  Wink. All mining equipment sold.
Now, I have time for holidays   Cool .
legendary
Activity: 1106
Merit: 1014
August 16, 2018, 04:21:03 AM
#44
I said "make free electricity"
in the word "make" that is where you pay (invest).
you can "make" all that is required (cables, alternators, buildings, etc.) by your own strength.
If the case is like this then you "buy = pay" with your strength/energy.
or you can buy (use money) everything you need and pay people to do it, then you "buy it = make it" with your money.
This makes no sense. There are no ways to "make free electricity", not even cheap electricity. Solar electric systems are way more expensive than what standard electricity providers charge in most parts of the world, last time I looked into it the ROI on the equipment was 10-20 years or something at best, and even after that you're not getting "free" electricity with solar since you'll have to do regular maintenance and replace batteries and other components on regular basis. And converting petrol or some natural gas into electricity is also never cheap (and certainly not free). The only way to get "free" electricity is to steal it, but even that is obviously not free (and just a stupid business decision in general considering the risks involved).
newbie
Activity: 40
Merit: 0
August 16, 2018, 03:37:08 AM
#43
make free electricity, then your miner will always be profitable (as long as Cryptocurrency is worth).

There is no free electricity in the world other than sunbath, if somebody does not receive the bill to pay then trust me somebody will pay that bill, also if people use solar power and they say they have free electricity then they are lying cause one way or the other they or somebody else have paid for that electricity they claim is free.

I said "make free electricity"
in the word "make" that is where you pay (invest).
you can "make" all that is required (cables, alternators, buildings, etc.) by your own strength.
If the case is like this then you "buy = pay" with your strength/energy.
or you can buy (use money) everything you need and pay people to do it, then you "buy it = make it" with your money.

then after that you will get what I mean by "free electricity".

If we describe the word "free" as you describe it, then even "sunbath" is not free, because we have to pay using the time we have, and in the end there is no need for the word "free" in this world.
And if there is a solar power user coming to you and he says he has free electricity, he is not lying to you. he just tried to say if he used electricity without paying bills. Trust Me Wink
Pages:
Jump to: