Topic: Stupid or smartness (Read 447 times)
I believe that the worst have already happen to crypto market, if double bottom happens to BTC price then the bear market bottom is in already, the first one was 17k and the second still remain unknown, I am saying this because I think it's stupid to pick one side and leave the other, selling part of the rig to buy altcoins is not bad at all and holding on to some rigs is balancing.
In my opinion you were right to sell the 1660, polkadot is a good investment maybe not invest all the proceeds you could do a part for a more performing gpu and a part to buy polkadot
The math in mining changes every day.
With an Ethereum price of $ 1,000, you have a profit of 60 cents, but you can sell coins when the price approaches ATH.And your profit will be 5 times more.
The math absolutely does change, but my point is that since I thought video card prices were too high in proportion to the fiat profit (profit fell by half, but GPU prices only fell by 5-10%), I decided to sell half my video cards while I could still get a decent price. The fiat profit matters because it influences GPU prices, even if I don't care about it myself.With an Ethereum price of $ 1,000, you have a profit of 60 cents, but you can sell coins when the price approaches ATH.And your profit will be 5 times more.
I will sit on the cash, then when GPUs are cheaper, use the cash to buy more cards than I sold.My priority is mining as much coin as possible during this crypto winter, therefore the # of cards does matter.
If you have one or 2 mining farms at home, and you decide to sell them while profitable, then this may be a good solution.
But if you bought a private house with a good energy tariff for mining, equipped it and sold video cards, then your investment will not work. In my country, such a house in the village can be bought for 10-15 thousand dollars with a tariff of 0.045 dollars per kilowatt. But the maximum consumption limit is 15 kilowatts.
a Rtx 3060 at 399 EUR brand new with the 100% unlock at 49 Mhsh is a very good price,with 3000 EUR you can build a full rig with 6 such cards.It is in these times that difficulty goes down and it has for Ethereum which is at 12.79 P for the first time in a couple of months below 13 P so things are looking good from a mining perspective no matter we are in a bear market.
I would avoid the RTX 3060, RTX 3080/3090 and all Radeon models because they aren't good at mining non-ETH coins. The cards I sold were entirely RX 6800's or RTX 3060's. I kept my RTX 2000-series, RTX 3060 Ti and Tesla P100 rigs because they are great at Zelhash/Autolykos/CNGPU.Times are not 'looking good' to build a new mining rig because video card prices will decline even more in my opinion. This trend will keep continuing:
If this $60/month decline continues for just 2 more months, we will reach $250 per RTX 3060.
Coin farm ventures when do you think it's the best time to start buying GPU?
I don't know when the market 'bottom' will happen. All I know is that based on my experience with the past 2 bear markets, today looks like a bad time to buy video cards. Used GPU prices have not caught up with the crypto crash. It takes a few weeks or months for video card prices to reflect the new reality. On top of that, we have the PoS uncertainty. That is why assuming BTC is stable at $18k with no PoS this year, my price target for RTX 3060's are $220 and $350 for RX 6800's. If PoS happens, subtract $50 from those targets.a Rtx 3060 at 399 EUR brand new with the 100% unlock at 49 Mhsh is a very good price,with 3000 EUR you can build a full rig with 6 such cards.It is in these times that difficulty goes down and it has for Ethereum which is at 12.79 P for the first time in a couple of months below 13 P so things are looking good from a mining perspective no matter we are in a bear market.
I would avoid the RTX 3060, RTX 3080/3090 and all Radeon models because they aren't good at mining non-ETH coins. The cards I sold were entirely RX 6800's or RTX 3060's. I kept my RTX 2000-series, RTX 3060 Ti and Tesla P100 rigs because they are great at Zelhash/Autolykos/CNGPU.Times are not 'looking good' to build a new mining rig because video card prices will decline even more in my opinion. This trend will keep continuing:
If this $60/month decline continues for just 2 more months, we will reach $250 per RTX 3060.
The math in mining changes every day.
With an Ethereum price of $ 1,000, you have a profit of 60 cents, but you can sell coins when the price approaches ATH.And your profit will be 5 times more.
The math absolutely does change, but my point is that since I thought video card prices were too high in proportion to the fiat profit (profit fell by half, but GPU prices only fell by 5-10%), I decided to sell half my video cards while I could still get a decent price. The fiat profit matters because it influences GPU prices, even if I don't care about it myself.With an Ethereum price of $ 1,000, you have a profit of 60 cents, but you can sell coins when the price approaches ATH.And your profit will be 5 times more.
I will sit on the cash, then when GPUs are cheaper, use the cash to buy more cards than I sold.My priority is mining as much coin as possible during this crypto winter, therefore the # of cards does matter.
That is the right thing to do.Keep mining in this crypto winter while we wait for the price of cards to fall even further but for me even the prices now for example of a Rtx 3060 at 399 EUR brand new with the 100% unlock at 49 Mhsh is a very good price,with 3000 EUR you can build a full rig with 6 such cards.It is in these times that difficulty goes down and it has for Ethereum which is at 12.79 P for the first time in a couple of months below 13 P so things are looking good from a mining perspective no matter we are in a bear market.
The math in mining changes every day.
With an Ethereum price of $ 1,000, you have a profit of 60 cents, but you can sell coins when the price approaches ATH.And your profit will be 5 times more.
The math absolutely does change, but my point is that since I thought video card prices were too high in proportion to the fiat profit (profit fell by half, but GPU prices only fell by 5-10%), I decided to sell half my video cards while I could still get a decent price. The fiat profit matters because it influences GPU prices, even if I don't care about it myself.With an Ethereum price of $ 1,000, you have a profit of 60 cents, but you can sell coins when the price approaches ATH.And your profit will be 5 times more.
I will sit on the cash, then when GPUs are cheaper, use the cash to buy more cards than I sold.My priority is mining as much coin as possible during this crypto winter, therefore the # of cards does matter.
But a graphics card can't be worth $0 like a cryptocurrency. Even the RX 580 8 GB graphics card can play many modern games and its price will not fall below $100 if it is in good condition. Even if it is cheaper, then what price will the RX 550 2GB have? RX 560 4gb? RX 570 4gb?
I agree with your general idea of GPUs having gaming value, but I don't think we are anywhere near the price floor for current-gen video cards. RTX 3060's are selling for $330 used today, but let's say they end up at $200 in 3 months if today's coin prices stay steady. That is a capital loss of $130 / 90 days = $1.44/day.You will get $0.60/day of profit mining CFX at free power. That won't compensate for the $1.44 in capital loss. So the most profitable decision would be to sell that RTX 3060 today rather than take the -$0.84/day = $75 of loss over the next 3 months.
After I did the math, I came to the conclusion to sell *now* instead of riding the market down.
With an Ethereum price of $ 1,000, you have a profit of 60 cents, but you can sell coins when the price approaches ATH.And your profit will be 5 times more.
Coin farm ventures when do you think it's the best time to start buying GPU?
I don't know when the market 'bottom' will happen. All I know is that based on my experience with the past 2 bear markets, today looks like a bad time to buy video cards. Used GPU prices have not caught up with the crypto crash. It takes a few weeks or months for video card prices to reflect the new reality. On top of that, we have the PoS uncertainty. That is why assuming BTC is stable at $18k with no PoS this year, my price target for RTX 3060's are $220 and $350 for RX 6800's. If PoS happens, subtract $50 from those targets. ...
You're half right for GPU miners right that they weren't in the bear market for mining yet. But this is only for miners with high-end GPUs. The bottom one with low-end, outdated GPU like RX 580, they're really in the danger spot now since their GPU has very low efficiency. If ETH price drop lower, sure the high-end GPUs or ones with high efficiency can still weather out, but the low efficiency will be out of the mining game right away unless you got free electricity. OP's 1660s ain't have a good efficiency rate so him selling some of his cards and diversifying it to alts or fiat is still a smart move to me. Why take a risk, right?But a graphics card can't be worth $0 like a cryptocurrency. Even the RX 580 8 GB graphics card can play many modern games and its price will not fall below $100 if it is in good condition. Even if it is cheaper, then what price will the RX 550 2GB have? RX 560 4gb? RX 570 4gb?
I agree with your general idea of GPUs having gaming value, but I don't think we are anywhere near the price floor for current-gen video cards. RTX 3060's are selling for $330 used today, but let's say they end up at $200 in 3 months if today's coin prices stay steady. That is a capital loss of $130 / 90 days = $1.44/day.You will get $0.60/day of profit mining CFX at free power. That won't compensate for the $1.44 in capital loss. So the most profitable decision would be to sell that RTX 3060 today rather than take the -$0.84/day = $75 of loss over the next 3 months.
After I did the math, I came to the conclusion to sell *now* instead of riding the market down.
But a graphics card can't be worth $0 like a cryptocurrency. Even the RX 580 8 GB graphics card can play many modern games and its price will not fall below $100 if it is in good condition. Even if it is cheaper, then what price will the RX 550 2GB have? RX 560 4gb? RX 570 4gb?
I agree with your general idea of GPUs having gaming value, but I don't think we are anywhere near the price floor for current-gen video cards. RTX 3060's are selling for $330 used today, but let's say they end up at $200 in 3 months if today's coin prices stay steady. That is a capital loss of $130 / 90 days = $1.44/day.You will get $0.60/day of profit mining CFX at free power. That won't compensate for the $1.44 in capital loss. So the most profitable decision would be to sell that RTX 3060 today rather than take the -$0.84/day = $75 of loss over the next 3 months.
After I did the math, I came to the conclusion to sell *now* instead of riding the market down.
If you have free electricity, then I would not sell a video card either
Video card values have declined much faster than the profit they make at free power. Capital loss is the real risk here, not operating loss. That is why I have sold half my rigs in the hopes of buying them back cheaper later on.If you have free electricity, then I would not sell a video card either
Video card values have declined much faster than the profit they make at free power. Capital loss is the real risk here, not operating loss. That is why I have sold half my rigs in the hopes of buying them back cheaper later on.so btc mining has just touched bear.
I guess you can call that a teddy bear market then :| ...
You're half right for GPU miners right that they weren't in the bear market for mining yet. But this is only for miners with high-end GPUs. The bottom one with low-end, outdated GPU like RX 580, they're really in the danger spot now since their GPU has very low efficiency. If ETH price drop lower, sure the high-end GPUs or ones with high efficiency can still weather out, but the low efficiency will be out of the mining game right away unless you got free electricity. OP's 1660s ain't have a good efficiency rate so him selling some of his cards and diversifying it to alts or fiat is still a smart move to me. Why take a risk, right?...
You're half right for GPU miners right that they weren't in the bear market for mining yet. But this is only for miners with high-end GPUs. The bottom one with low-end, outdated GPU like RX 580, they're really in the danger spot now since their GPU has very low efficiency. If ETH price drop lower, sure the high-end GPUs or ones with high efficiency can still weather out, but the low efficiency will be out of the mining game right away unless you got free electricity. OP's 1660s ain't have a good efficiency rate so him selling some of his cards and diversifying it to alts or fiat is still a smart move to me. Why take a risk, right? I am still holding on pretty well, a 30 MH still do 0.50$ per day and I am not one of those paying high feed for electricity so I will keep mining still, I have no gpu to sell anymore as my plan is to hold those GPUs for a better season in future, doing this I already feel like I have all the good coins I need to have.
To be more precise, the profit is approximately 41 cents. If you have free electricity, then I would not sell a video card either. You can even buy video cards at cheap prices to get the most out of your very cheap electricity.
I am still holding on pretty well, a 30 MH still do 0.50$ per day and I am not one of those paying high feed for electricity so I will keep mining still, I have no gpu to sell anymore as my plan is to hold those GPUs for a better season in future, doing this I already feel like I have all the good coins I need to have.
First off this is not a bear market for mining.
3070 130 watts 60 mh = about 96 cents earned pre power. 130 watts is under 4 kwatts say you have 10 cent power. 40 cents. so 96-40 = 56 cents daily profit.
5 cent power 20 cents so 96-20 = 76 cents daily profit.
so while it is not good profit it is profit thus not bear.
btc
s17 on low is $3.50 earned and 3.60 burned at ten cents
it is 3.50 - 3.60 is neg ten cents for ten cent power
and 3.50 - 1.80 = + $1.70 for five cent power
so btc mining has just touched bear.
lastly
L7 burns 85 kwatts or 8.50 at 10 cent power
and 4.25 at five cent power
it earns 17 a day so
17-8.50 = 8.50 at ten cent power
17- 4.25 = 12.75 at five cent power
so for 3070 eth mining not bear yet
for s17 a small bear a teddy maybe
for L7 LTC/Doge ot bear yet.
This means all of above should get worse.
For miners.
AND for traders its bear.
My guess is eth bails into pos and the market tanks bigly. - this has a good chance
of eth bails into pos crashes and burns while pow asics whale - this happen with another coin it think this is what happens.
or ethe bails and whales killing pow coins- not in a million years.
3070 130 watts 60 mh = about 96 cents earned pre power. 130 watts is under 4 kwatts say you have 10 cent power. 40 cents. so 96-40 = 56 cents daily profit.
5 cent power 20 cents so 96-20 = 76 cents daily profit.
so while it is not good profit it is profit thus not bear.
btc
s17 on low is $3.50 earned and 3.60 burned at ten cents
it is 3.50 - 3.60 is neg ten cents for ten cent power
and 3.50 - 1.80 = + $1.70 for five cent power
so btc mining has just touched bear.
lastly
L7 burns 85 kwatts or 8.50 at 10 cent power
and 4.25 at five cent power
it earns 17 a day so
17-8.50 = 8.50 at ten cent power
17- 4.25 = 12.75 at five cent power
so for 3070 eth mining not bear yet
for s17 a small bear a teddy maybe
for L7 LTC/Doge ot bear yet.
This means all of above should get worse.
For miners.
AND for traders its bear.
My guess is eth bails into pos and the market tanks bigly. - this has a good chance
of eth bails into pos crashes and burns while pow asics whale - this happen with another coin it think this is what happens.
or ethe bails and whales killing pow coins- not in a million years.
things will get unbearable
I like what you did there. We might really be in a teddy bear market, not a grizzly bear market yet.
Time will tell if it's a teddy or a grizzly
Time is already telling is a grizzly one,just give him sometime until he crashes the market even further.All the data,all the crisis in the world should of have at least a minimum of impact even in cryptocurrencies.That impact is not yet shown on the price but in July when as they say the crisis will go deeper with inflation at 8% on paper already but 33% on reality we will see this grizzly bear unleash his fury.
Of course I hope I am wrong in my prediction but chances are we are far from reaching the bottom of Bitcoin and cryptocurrency prices in general.
things will get unbearable
I like what you did there. We might really be in a teddy bear market, not a grizzly bear market yet.Time will tell if it's a teddy or a grizzly
things will get unbearable
I like what you did there. We might really be in a teddy bear market, not a grizzly bear market yet.
The gtx 1660s can go as low as 150$ if the bear market gets tougher and I believe this is just the beginning of a huge price decline, just because BTC gets to 20k after 67k doesn't mean it has a bottom and bears are going back into their cages, nope, things will get unbearable and many graphic cards will flood the market.
I just sold four pieces of my 1660s graphic cards that I bought in January of 2022 at 280$ and I originally bought this cards for 350$, is this a good selling point for these cards? Haha I did this because I want me some polka-dot and avalanche for a long term hold, this is just 2% of my entire mining farm.
Since it is just 2% of your entire mining farm it is not stupid but either smartness,it is just normal I would say.If you can manage to sell cards at almost the same price you have bought then I would go ahead and sell them,there is the AMD new series on the edge together with the Rtx 4000 series and when these hit the markets we would see a huge supply of older video cards for sale,I think it is then time to stock up on them a bigger number than you already have now.
I know,it is a risky move but can bring huge profit but also huge risk,up to you what to do.
I just sold four pieces of my 1660s graphic cards that I bought in January of 2022 at 280$ and I originally bought this cards for 350$, is this a good selling point for these cards? Haha I did this because I want me some polka-dot and avalanche for a long term hold, this is just 2% of my entire mining farm.
Since it is just 2% of your entire mining farm it is not stupid but either smartness,it is just normal I would say.If you can manage to sell cards at almost the same price you have bought then I would go ahead and sell them,there is the AMD new series on the edge together with the Rtx 4000 series and when these hit the markets we would see a huge supply of older video cards for sale,I think it is then time to stock up on them a bigger number than you already have now.
I know,it is a risky move but can bring huge profit but also huge risk,up to you what to do.
I think now is a good time to offload any GPUs at a decent price because we will see a huge supply hit the markets. With the money you get don’t buy any altcoins right now. Wait for market to bottom.
Only coins i would buy is maybe BTC ETH and BNB. The rest can easily do another 90%. Just because it seems cheap doesn’t mean it’s a good deal. It can drop another 90% and will never recover.
Only coins i would buy is maybe BTC ETH and BNB. The rest can easily do another 90%. Just because it seems cheap doesn’t mean it’s a good deal. It can drop another 90% and will never recover.
If now your video card gives 30 cents of profit per day, then you have made a very good deal. I can suggest that you spend part of the profit, because you can invest poorly and lose money, as I did in 2018.
Too early to buy coins right now :oo I hope you haven't already? Change your money into USDC or DAI and wait for more months, we haven't even start going sideways I won't do anything until we are deep into a bear market for few months, buying now is too early.
Not a bad move to sell some graphics cards in order to diversify, but I think you bought Polkadot and Avalanche too early. This bear market has not seen the worst moments, and I believe there is more to come.
We are not sure if Polkadot and Avalenche will be the next Luna or Solana yet
I would wait until we are deep into the bear market and see how projects survive through it before thinking of buying the promising coins.
We are not sure if Polkadot and Avalenche will be the next Luna or Solana yet
I would wait until we are deep into the bear market and see how projects survive through it before thinking of buying the promising coins.
I just sold four pieces of my 1660s graphic cards that I bought in January of 2022 at 280$ and I originally bought this cards for 350$, is this a good selling point for these cards? Haha I did this because I want me some polka-dot and avalanche for a long term hold, this is just 2% of my entire mining farm.
Absolutely. In fact, you should probably sell ALL of your video cards NOW, or at least as many as you have time for. Sell the AMD cards first, then the higher-end RTX cards. That's what I did. You will probably be able to build back later at half the price. Buy coins or hold fiat.
I just sold four pieces of my 1660s graphic cards that I bought in January of 2022 at 280$ and I originally bought this cards for 350$, is this a good selling point for these cards? Haha I did this because I want me some polka-dot and avalanche for a long term hold, this is just 2% of my entire mining farm.
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