Topic: Profitability (Read 3347 times)

I was kind of hoping for ETH values to stay depressed for a while.  The difficulty kind of slowed the steep angle upward march for a couple of days.  With the big jump in the ETH price today I am sure that steep angle will resume.  Workers/Rigs on Ethermine.org was hanging around 123k/124k and around 12.2 T/H for the last few days.  It jumped up in the past few hours to 12.7 T/H and 126k workers.  Difficulty is on the move.  Difficulty is going to be measured in Pentahashes shortly.

I think you hit the nail on the head.. unless mining becomes extremely unprofitable or your electricity is high.. then there is:

D) pack it up and sell the equipment

Haha, I will be doing a combine of A, B, and C over the next coming months. Right now I am doing C until I get my rig situated in my new house and have a weekend free of painting to set up for A and B

I think a LOT of people will think like this. My plan is just to diversify over the coming months through either:

a) Mine what is most profitable on the day, exchange for other coins. or:
b) Mine what might not be the most profitable on other days just to build up actual number of coins if it's seems like less people mining it that day. or:
c) Some days will just run NiceHash and get paid out in Bitcoin and hold it long term rather than cash out.


Might simply be that option a) above makes the most sense, but I'm definitely not planning to convert any of my holdings to fiat for some time to come.

I think Vega won't be down that easy. I mean they will struggle but we should be waiting for more time. In anyway we have installed it so better keep them running and try to decrease the cost of may be electricity by means of implementing green energy techniques. This is important because the rate of rx is going to be down to cents per day (worst situations) so we must be able to over our costs with that rate and stay profitable. Here profitable would would means even getting cents per day after the expenses.! I know sounds too vague but it is worth doing that for the time being. We can always get lucky after a year or two when the rate of hashing might change, new tech might come to solve the difficulty problems. Always have positive mining no matter what. :-)

only 4000 mhs but the uncle rate is like 15 percent solo mining on ethpool
so odds are in your favor

All AMD GPUs sold out; almost all Nvidia GPUs sold out: and out comes the FUD.

If you want out; I'm sure your GPUs will sell quickly on the marketplace.

If you are new to crypto; you might find it strange that those who post about the impending doom: will be the first to spam you with pms about buying your GPUs. 

whats your mh/s? congrats!

Interestingly, I haven't calculated the returns on my Canadian investments vis à vis foreign currencies.
But suppose I had invested the same amount in Canadian GIC's 5 years ago as I did in my old mining equipment, corrected for current value against the USD, then even if I include the tax breaks offered by our govt for retirement funds (to be taxed upon withdrawal, of course), then I'd still be eons behind what I have made on cryptos. Shit, my investments made way more than that, and they still fell 30% vs the USD in the last two years 😪
In a funny way, even after years of neglect, crypto has protected me from forex fluctuations.
Hell, if BTC went down to 500 USD I'd still be in my money

yup thats what I say either go all the way or just get out, every investment ive missed : tesla when it was 25, facebook at $30, eth on the ico , Always lost out becuase I was risk averse and just wanted to test the waters.

the money i refused to invest in those assets is gone or stuck in worthless 4 percent grwoth 401ks or farmed out to the tax man.

to make any real money or suceed in general u usually have to take risks , just look at the risk reward equation imo  

EXACTLY!  Could not agree more...

mined an uncle on eth pool today so got 5 eth plus 3.7 its quite profitable still if you get lucky solo mining, I usuall get an uncle a week , just gotta stick with it

+1

Bitcoin is a solid holding, it is finally getting a scaling improvement.  Long term it will be BIG, I mean 10 years down the line 2 or 3 btc will fund your retirement.  Some other coins are good to be in as well, just any solid crypto portfolio.

Now look at Berkshire Hathaway

Opened in 1991 with about 1.6 million shares and market cap of ~11 billion for a stock price of $7100
Lets say you didn't buy in until 1995 4 year later which put it around btc current cap of ~30 billion @ $20'000 a share and you buy a single share.
Tons of volatility from 1995 to 2017 with big declines where lots of people bailed, but you hold.

Your $20'000 invest is worth $251'000 and growing.
That means the market cap doubled 13.7 times
You made $230'000

Now How many times can bitcoin or other solid coins double in price over ~10-20 years?
It did this year, how about next year and future halvings?

Exponential growth is some crazy shit.

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Edit I forgot about inflation.

The starting $20'000 would only be $32,500 by todays numbers.

Agree with all you said.

Why did you, after five years, fall into a trap?

I do agree that the entire crypto world is very susceptible to pumps and dumps.
But in my humble opinion, that is a only a symptom of the low market value of the entire crypto market now - it is simply too cheap not to manipulate.
If you have been following the markets for that long, then I think you'll have noticed that the volatility of cryptos, while still insane when compared to high cap stocks, is far lower than it used to be ...

That makes it both extremely interesting and extremely risky to "invest" in. It is in fact more of a gamble than anything at this point to put any money anywhere near anything that has to do with crypto.

What makes me so bullish about the future value of BTC (or other cryptos), is that we have only begun scratching the surface of what the tech could be used for - from supplying underbanked masses with a means to store funds electronically, through (more useful nowadays) being used as a means to move around obscene amounts of money without requiring banks... If you wanted to move millions of dollars from one country to the next a few years ago, you'd have to stash your luggage with cash and hope that customs won't take a peek ... now it could be stored in a memorized private key, in the form of a currency that is liquid enough to convert to insane amounts of fiat in no time flat in most places in the world.

As to the possibility of "losing" money vs fiat value in BTC, due to volatility, I actually think the risk is manageable over short periods of time.
Ask Canadians how much buying power they lost over the last two years because of the insane decline of the Canadian dollar, or many Europeans got screwed because they pulled out loans in Swiss francs ... or how much was lost by people holding British pounds in the last year!

I do get that BTC is a very fringe-ey tech, but its uses and potential are very, very real.
Can it tank and become worthless? Sure.
But I just don't see that happening.
So bag holding is the way to go. And not even for a year - hold it until that shit can secure your retirement, or busts entirely.
That's my game. And if I lose everything I've ever put into it? Bah, it's money I never had anyways

just mine a different coin, it is just the dag file of eth that is causing the lower hashrate, so other coins won't have a drop

i hope so  it will come soon because the profit $1 on card is not so scary for me just the lower hashrate make me sick

You know, nVidia speed is not dropping after every epoch, which leads me to think AMD might be able to fix that on driver level.

okay but any way with the rx 5xx if you check the epoch switch. Hashrate go down every 10 epoch so quickly. maybe better will be sell the cards if still people want them and wait for next gen ?
I do not want to give up. But I also can not afford a smaller profit than energy consumption. $0,17

Many people will try to sell their GPU-s as they will think there is no more profit to be made right now with actual price of the cryptos, especially ethereum. I am personally hoping that many people leaving the home mining scene should result in a falling down of the difficulty and more profit for people who will have patience and keep mining at home and waiting for better days.

The big thing is how the price of Eth is tanking plus the difficulty.

A few days ago I got really worried Eth was going to tank with block times going up, plus ico's cashing out so I moved my mined eth into btc and litecoin 70% and 30% split (eth was $330 then).  Litecoin wasn't that good of a move but btc isn't too horrible, still better off than Eth, loses are at about 10% vs eth 20%+ I would of had.

When the blocks time jump again the summer sale could get even worse, Eth can barely handle the transactions and that creates panic.  But the fork will happen eventually last summerish, at that time things could really turn around.