Topic: Planning for summer 2019 - page 2. (Read 12733 times)

This summer I'll keep accumulating and searching for everyway to increase my portfolio before the next bull run... BTC has already shown it's teeth, so the end of the year seems to be very promising...
Mining allows you to accumulate and sell when you decide (as long as you have your electricity issue sorted out)... and the mistake for small miners is aiming at top coins with too high dif....

The power of the sun will also be beautiful and fun, that's true, but planning to build your own mining plant in California, with those temperatures and that electricity cost, I think you'll soon find out you haven't made a proper investment.

It would have been much better if you would have bought the coins you wanted (Bitcoin and others) during this winter; in this way you would have obtained two significant advantages: greater economic return and the freedom of a man

Jokes aside, my advice to you: sell the equipment before it gets too old and enjoy the sun

DONT DO THIS!

Running mining rigs on your attic LIGHTING RING is asking for a fire!!

Lighting circuits are 6amps, Thay cant even handle 1 fully loaded 13a plug

STOP GIVING ADVICE WHEN YOU HAVE NO CLUE MAN WTF!

So many people are planning a summer vacation for mining, what I think about connecting to the net . An additional call for this is more higher prices.

Depends on the type of home you live in. If it's a house then move it into your attic, just get a handyman to make a few sockets from the light bulb and you're good to go.

If you have a mining rig/masternode or anything else that can give you "small" income while you are remote, then I suggest you run that rig/node and forget about crypto this whole summer. We might see a bull run this year but if you looking at your portfolio every second it will just ruin your summer.

Summer is not a season that is favorable for mining.  If you are not kind of guy who uses immersion cooling from 3M Novec then you need to use extra chiller (e.g. water-cooled ) for your rigs which means additional cost of mining. If you have  very little room for such additional expenditure than it is better to postpone mining, IMO.

Since I did a self installation and got my solar panels from wholesalesolar.com.  I will actually less than a 4 year ROI.  Thats actually faster ROI than a gpu rig build if your electricity is a little bit on the high side.  And the biggest benefit is after the equipment is paid off  the solar system will keep giving me savings for 26 years+ whereas a gpu rig after 4 years roi of mining the cards  will be garbage.

Here's a breakdown of their cost.
https://www.wholesalesolar.com/shop/grid-tie-packages

solar system with shipping $8500 for 891 kwatts a month.  This is the average house hold use or close to an S9 running all the time.
Solar Design $275
City Permit approval $286
Junction box and conduit pipes and extra wires $300

Total cost before rebate $ 9361
Solar Rebate from State of 30 percent. =  - $2808
Final cost after rebate $ 6553  (I'm sure some of you 1080 ti folks spent close to this on your single gpu rig build out with 6-8 gpus)

ROI time = Your monthly home energy cost without solar.  Say for example around $150.  Your roi is now $6553 divide it by $150 which equals 43.68 months or 3.64 years.

Since these figures are very close to what a gpu rig takes to ROI and also the gpu system cost is also close in price of a solar system.  One should really consider going solar especially if your electric is above 15 cents.

Do take into account for my specific situation I live in california and electric rate is 22 cents for tier 1 electric use.  My roi time is actually much faster due to high price.  891 kwatt generation multiply 0.22 cents = $196 month of electric use per month without solar.  $6553 divide by $196 = 2.78 years ROI.  But i'll round up since I probably need to pay minumum pge electric delievery charge.  3 years ROI is not bad and I'll enjoy 27 years + of free energy

I have also been somewhat discouraged in this regard, and taking into account the low profitability I am getting in the currencies that I am mining and the usual high temperatures in my country, it is possible that I take a break before deciding whether to continue in business or not. What is clear to me is that I should take advantage of this break to improve my trading skills, because apparently there are better yields in it, but less easily than in mining.

I did actually laugh when reading up about that divorce thing and for sure you wife now do regret on stopping you that time if she do currently see

on whats the price of bitcoin as of this moment but well in regards on the solar panel thing.This might be a good option but havent you consider
on reaching up your ROI?

When you're hit down 10x you've got to get up 10x. If mining profits have tanked, then you get into it with higher momentum so as to get better results.. Moreover, the market has been showing some improvements off late so maybe some good news are incoming.

Price of Bitcoin and other altcoins is growing, while miners are not joining so fast. You should be still in a profit even you invest more into cooling and electricity. 

In my plans for the summer is to wait (if it will be in the summer) bull run and sell all illiquid coins. Because it is very difficult for me to keep track of a large number of projects at the same time.

I've lowered my operating cost from 24 cents home mining down to 8 cents mining at  colo now where most of my rigs are at.

 I also self installed 20 solar panels on my home to power my house and 1 gpu rig thats in my office with a ceiling exhaust vent fan.  So i did make some investments to lower my operating cost.  I did borrow from my 401k so I'm practically hedging the stock market and not selling cryptos at the lows to fund my solar. 

So that's how I planned for summer 2019.

Looking back I would have made more if I just bought btc at 3300 but my wife was pissed about the markets in December/Jan  and threaten to divorce me if i bought more crypto during that time. So we decided on solar to hedge out our long term strategy that works for both of us.

Mining the Sun power is a lot of fun lately.

Plans for the summer. To find projects that will help me mine cryptocurrency with pos I think to make a list and in the summer to switch to such coin mining. And in general there are many iterative projects now. But winter crypto is too rastroil and I think just to go on vacation.

Everything shows that now it is necessary to accumulate crypto in your hands. The market moved into a rough growth phase and after halving new records for the price are very realistic.

This summer I will continue to accumulate cryptocurrencies. I also launched one coin validator. I'm going to validate all summer. I really hope that this project will be successful.

First if all, you're completely ignoring the fact that the great majority of people, either knowingly or unknowingly, go into mining as a lower risk way to invest in crypto. Yeah, you won't make as much coins as you would've just straight up buying them but you'll still be able to ride the bull run and if the market happens to drop by 80% (assuming you didn't buy your rigs at inflated prices during a mining craze) you can still sell your hardware for 50-80% of your initial investment. It's almost impossible to invest crypto into new mining equipment and end up with more crypto than you initially started with because you're competing with people who are putting fiat in mining. And it's probably going to stay this way until the price stabilises for good.

Secondly, other than a small number of people in northern america/ europe most people never got to the point of mining at a loss since they're paying on average around $0.03/ kwh, maybe up to $0.05/ kwh in a relatively bad scenario.