Opinions about quitting mining - page 3.

sapnu

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Quote from: bittick on December 13, 2019, 09:09:11 PM

Quote from: Dangki01021991 on December 13, 2019, 01:28:13 PM

it is wrong to sell the rig. you can find a better new way to get better than selling a rig. It is a very good money-making tool.

it's not until you can find a good coin to be mined with your mining rig. Remember about the competition in mining is very hard today consider the difficulty of any major coins increasing a lot.
It's a good decision when you can't even create a few dollars from your mining rig every day.

It is actually depends on you if you are earning some good money and you can pay the bills like internet and power source which is very important when you are mining because here in my country it is hard to mine cryptocurrency because the bill of electricity is high so you can lose your money just by paying source of power and not even earning that big amount of cryptocurrency. If you have actually the free source of power like a solar panel to mine, it is actually good but if not, do not do it. It is actually the expensive way of earning crypto because you need to have high specifications of video cards and many more before you can earn a lot of cryptocurrencies.

bittick

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Quote from: Dangki01021991 on December 13, 2019, 01:28:13 PM

it is wrong to sell the rig. you can find a better new way to get better than selling a rig. It is a very good money making tool.

it's not until you can find a good coin to be mined with your mining rig. Remember about the competition in mining is very hard today consider about the difficulty of the any major coins the increasing a lot.
It's a good decision when you cna't even create a few dollars from your mining rig everyday.

imutlinda

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Quote from: Aikidoka on December 13, 2019, 01:20:30 PM

I don't really think that mining is profitable to be honest. It's always kinda be profitable for just the first few months and then you'll end up losing. We all know that the difficulty of mining are increasing , so it always will be so hard to mine after a few months. Like we're seeing here on the site where is estimating your earnings using some mining machine https://www.asicminervalue.com/. I'm sure that you'll notice later that if you'll buy them you'll not be in the profit anymore in just in a few couple of months

mining is difficult because we need tools that require a lot of funds to make it and also spend quite large funds for electricity but if he sells the tools then he must wisely use the funds he gets. do not let him misstep again to invest or trade, so he must really have and practice the ability in the investment market

Dangki01021991

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it is wrong to sell the rig. you can find a better new way to get better than selling a rig. It is a very good money making tool.

CarnagexD

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Quote from: Wysi on December 13, 2019, 01:19:46 PM

Quote from: Whilemost on December 13, 2019, 01:12:18 PM

Quitting mining is what we think of. In my opinion, you should not give up exploitation because this job is very good and has many benefits.

Not as many benefits as we think because the has rate which we get nowadays are peanuts which does not suffice the electricity and internet bills, moreover most of us who started small scale mining at home have already incurred huge loss

This is why I never get in touch with mining, I assume this going to happen as centralized mining are emerging. I can't get enough just thinking what rate I need to maintain a good benefit of mining without getting a huge expense on electricy coz electricity in my country is quitr expensive compared to others.

Quote from: Wysi on December 13, 2019, 01:19:46 PM

and I have recently sold my mining machine for 10x lesser value because it was useless for over an year now. Mining sounds good but it's not for individual.

That's sad, it could be much more beneficial when it generates a lot. Bitcoin price is gaining enough but it seems mining is getting harder and more expensive isn't it? Too bad for miners like you.

Aikidoka

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I don't really think that mining is profitable to be honest. It's always kinda be profitable for just the first few months and then you'll end up losing. We all know that the difficulty of mining are increasing , so it always will be so hard to mine after a few months. Like we're seeing here on the site where is estimating your earnings using some mining machine https://www.asicminervalue.com/. I'm sure that you'll notice later that if you'll buy them you'll not be in the profit anymore in just in a few couple of months

Wysi

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Quote from: Whilemost on December 13, 2019, 01:12:18 PM

Quitting mining is what we think of. In my opinion, you should not give up exploitation because this job is very good and has many benefits.

Not as many benefits as we think because the has rate which we get nowadays are peanuts which does not suffice the electricity and internet bills, moreover most of us who started small scale mining at home have already incurred huge loss and I have recently sold my mining machine for 10x lesser value because it was useless for over an year now. Mining sounds good but it's not for individual.

Longthi_4823_Love

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setting up a mining rig is also very potential and opportunity, and the job you do without profit is because you have not done it properly yourself. It is right to enter the cryptocurrency market but you need to gain experience.

Chrystora123

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Quote from: VDraci on December 03, 2019, 04:56:55 AM

is selling my mining rig a good call?

all decisions are in your hands, you must be able to choose the best decision.. the biggest problem that miners face is the cost of electricity, if you are able to keep the electricity costs down to very low then you will get profit. my advice, don't sell your mining equipment, if one coin is unprofitable, you can choose to mine another coin that is profitable.

Whilemost

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Quitting mining is what we think of. In my opinion, you should not give up exploitation because this job is very good and has many benefits.

joshy23

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Quote from: BRODIN on December 13, 2019, 12:53:31 PM

how much profit do you get in mining when using the rig? if you are not satisfied with the results of the mining then the answer depends on you, but in my opinion if you sell the rig then the next is to invest with some of the top coins like eth, eos, ltc, or bnb, using money from your rig sales.

If you are willing to continue your quest inside crypto industry, you can use those funds to start dealing with trading and investing. But there's still a high
risk that you need to understand. Quitting mining as the expenses is getting much higher should be consider, you need to recheck if there's still potentials or you need to switched to another ventures of business.

vintages

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I have personally not been a fan of mining and its simply because I find it more time consuming and requires more of my attention which could have been diverted to other businesses.
Mining may be earning some bit by bit income nowadays unlike before the earning is huge. Therefore, I feel the little gain is not worth the stress, if you don't have much time. To me, I feel the decision is okay though.

Arkann

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Quote from: makolz26 on December 13, 2019, 11:30:13 AM

Quote from: robelneo on December 13, 2019, 11:10:10 AM

Quote from: VDraci on December 03, 2019, 04:56:55 AM

Tell me if my plan is bad, the first time i entered crypto space i started with mining rig setups but after some time its no more profitable so i stopped mining, now i start joining airdrops and bounties but present market condition is not helping, now i decide to sell my rig and find other business to divert the money to, if bull run ever comes i will still have coins to sell since most of my bounties i hold the ones with use cases, is selling my mining rig a good call?

You made the right decision and the timing is just right, I don't know the electricity cost in your area, but buying goods coins with good potential is far more better than running a mining rig now, and you also did the right thing joining bounty hunting, but there are a lot of bad bounties right now, only join when you do a research on the project that you are going to promote.

Yeah, he made a good decision, as he can still earn in different ways, especially if the mining is not profitable anymore and it is causing you stress and trouble, so don't waste your time and sell it as soon as you can, and those money that you have earned from selling, then use it to start again, either trading or investing.

Perhaps in this area I do not have much knowledge, but I always pay attention to the conclusions of experts regarding the price level of a particular cryptocurrency, the profit for mining remains. For example, Bitcoin mining retains its profit even at a price of $ 4,000. Therefore, if we take into account current prices for Bitcoin, then mining is profitable even taking into account all the waste of electricity. And if you take the current state of lightcoin, then almost all Chinese miners are already refusing this coin, since mining is not profitable.

BRODIN

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how much profit do you get in mining when using the rig? if you are not satisfied with the results of the mining then the answer depends on you, but in my opinion if you sell the rig then the next is to invest with some of the top coins like eth, eos, ltc, or bnb, using money from your rig sales.

aomakun

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Quote from: Balladtony77 on December 13, 2019, 11:22:04 AM

If you don't like what you are earning find a good buyer who can buy the rigs at a good price to cut your loss but if you can't find a better buyer I suggest you keep mining even if its little profit you are getting, tomorrow is another day and change is constant

indeed confusing because actually mining will be profitable. but if indeed he already has the right desire then try selling your mining machine at the best price so that it can be used to trade or invest with potential coins

Zionatin

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If you can get a good deal on it then sure sell it. If you have already made your money back on it then maybe you want to keep it for new coins you kind and want to support. You need to look at other things besides bounties and airdrops. Most people doing these things are sheep that join any campaign and don't even support the coin they work months for. Undecided

They think this is a way to earn. Bounty hunting would be if people took pride in it but they don't. It is just a spam festival. Having 50k members on telegram means nothing if you only a few of them active. Or you can have an endless amount of human bots that retweet your tweets for you.

I say if you get a good deal sell it. If not keep it to mine new coins that you support and not just mine for a profit. You can still make some decent coins if you mine new coins that shoot up in value. You almost always certain to get the value of the money you spent on electricity back so you lose nothing.

makolz26

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Quote from: robelneo on December 13, 2019, 11:10:10 AM

Quote from: VDraci on December 03, 2019, 04:56:55 AM

Tell me if my plan is bad, the first time i entered crypto space i started with mining rig setups but after some time its no more profitable so i stopped mining, now i start joining airdrops and bounties but present market condition is not helping, now i decide to sell my rig and find other business to divert the money to, if bull run ever comes i will still have coins to sell since most of my bounties i hold the ones with use cases, is selling my mining rig a good call?

You made the right decision and the timing is just right, I don't know the electricity cost in your area, but buying goods coins with good potential is far more better than running a mining rig now, and you also did the right thing joining bounty hunting, but there are a lot of bad bounties right now, only join when you do a research on the project that you are going to promote.

Yeah, he made a good decision, as he can still earn in different ways, especially if the mining is not profitable anymore and it is causing you stress and trouble, so don't waste your time and sell it as soon as you can, and those money that you have earned from selling, then use it to start again, either trading or investing.

msarro

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Quote from: VDraci on December 03, 2019, 04:56:55 AM

Tell me if my plan is bad, the first time i entered crypto space i started with mining rig setups but after some time its no more profitable so i stopped mining, now i start joining airdrops and bounties but present market condition is not helping, now i decide to sell my rig and find other business to divert the money to, if bull run ever comes i will still have coins to sell since most of my bounties i hold the ones with use cases, is selling my mining rig a good call?

There are too many part of your query. You are selling your rig but not stating how much hashing power they have and what coins you are opting to mine. Based on that data one can tell whether you can sell or keep your rig.
Present market is down and I think its a golden time to update your holdings with coins that are available at discounted price.

Balladtony77

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If you don't like what you are earning find a good buyer who can buy the rigs at a good price to cut your loss but if you can't find a better buyer I suggest you keep mining even if its little profit you are getting, tomorrow is another day and change is constant

Xcode7

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Quote from: VDraci on December 03, 2019, 04:56:55 AM

Tell me if my plan is bad, the first time i entered crypto space i started with mining rig setups but after some time its no more profitable so i stopped mining, now i start joining airdrops and bounties but present market condition is not helping, now i decide to sell my rig and find other business to divert the money to, if bull run ever comes i will still have coins to sell since most of my bounties i hold the ones with use cases, is selling my mining rig a good call?

Until now I have never felt the sensation of mining coins, when my friend invited me to try cryptocurrency, he suggested to join a signature campaign or trading, because mining does require quite a lot of free time to keep mining and sophisticated computer specifications . Therefore I do not really know and might try a new sensation from mining

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