Surviving a Bear Cryptocurrency Market as a Mining Farm Operator - June 2018

VoskCoin

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Quote from: Vann on June 14, 2018, 10:54:43 AM

Diversification and for poor people, a JOB.

a kid I went to school with was living the high life, bragging about his crypto gains etc for several months . . boasting all over social media etc. Turns out he is now over 20 grand in debt, left his decent job to ride the crypto wave, and well . . he is now facing a hardcore correction in life Huh

This also sums up a lot w/ a simple graph

Vann

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Diversification and for poor people, a JOB.

VoskCoin

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Quote from: astrong on June 13, 2018, 11:11:34 PM

I'm sorry to hear that. I forget not only investor and trader who will frustated because this bad market condition. The miner of course get an impact too because beside market crash, they should pay the cost of an electricity too. The only way for miners to return to sustained profits is if Bitcoin prices rise, or some miners turn off the lights, lowering competition. History shows that while the latter is possible, it's unlikely. In fact, those who have plunked down millions of dollars to build their Bitcoin mining operations seem to be playing chicken in the hope that competitors will flinch.

Unfortunately it seems that difficulty is ever rising, many people believe that price goes down and so does difficulty. . However when it is market wide that is simply not the case. Plus the introduction to more ASICs & FPGA further increase diff. esp. for gpu miners

Even at mining at a slight loss, it is best to hold and use fiat as Suslived also said

VoskCoin

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Quote from: Suslived on June 14, 2018, 01:30:57 AM

Ah great job as usual Vosk. I envy you as you seem to always make the right videos at the right time!

Talk about timing, which is actually very important in video production, but also in crypto mining. Time your coin dumps boys. Makes no sense to cash out now. Just use your fiat to pay for those electric bills if you really need to. An uptrend should be just around the corner.

thanks my friend Cheesy

- I just get lucky sometimes xD

I'm with ya! I have seen a lot of miners get burned and it really comes back to two main things that burned them

1) They mined a speculative coin and lost big time (zcl->btcp was the largest scale recent one, and this depends on how you navigated this)

2) Constant cashing out to pay electric & to live etc, personally for me this is peanut butter and jelly season lol, hoping we still have a big year in store for us. .

VoskCoin

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Quote from: chup on June 14, 2018, 01:20:17 AM

Summer is for vacation. Forget mining for a while... Cool

haha you might be right for this summer! last summer I was digging away (literally) to get the shed setup for a farm!

makerain

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Quote from: VoskCoin on June 13, 2018, 10:51:24 PM

Just when there seems to be hope, you wake up and see CoinMarketCap bathing in blood as all of your favorite cryptocurrencies lose 5%, 10%, or 20%+ of their value within the past 24 hours. These losses severely impact mining rig investments, like our mining farm here at VoskCoin.

Buy 1080 TI for Mining on Amazon - http://geni.us/nVLyaFs
Buy Vega 56 for Mining on Amazon - http://geni.us/TPdB

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to http://Amazon.com and affiliated sites.

https://youtu.be/Bpsvt3MK5Bo

Fk off with your affiliate links .

Suslived

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Ah great job as usual Vosk. I envy you as you seem to always make the right videos at the right time!

Talk about timing, which is actually very important in video production, but also in crypto mining. Time your coin dumps boys. Makes no sense to cash out now. Just use your fiat to pay for those electric bills if you really need to. An uptrend should be just around the corner.

chup

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Me, Myself & I

Summer is for vacation. Forget mining for a while... Cool

astrong

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Aku belum mandi Taktuntuang Taktuntuang

I'm sorry to hear that. I forget not only investor and trader who will frustated because this bad market condition. The miner of course get an impact too because beside market crash, they should pay the cost of an electricity too. The only way for miners to return to sustained profits is if Bitcoin prices rise, or some miners turn off the lights, lowering competition. History shows that while the latter is possible, it's unlikely. In fact, those who have plunked down millions of dollars to build their Bitcoin mining operations seem to be playing chicken in the hope that competitors will flinch.

VoskCoin

sr. member

Activity: 1414

Merit: 487

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Just when there seems to be hope, you wake up and see CoinMarketCap bathing in blood as all of your favorite cryptocurrencies lose 5%, 10%, or 20%+ of their value within the past 24 hours. These losses severely impact mining rig investments, like our mining farm here at VoskCoin.

https://youtu.be/Bpsvt3MK5Bo

Buy 1080 TI for Mining on Amazon - http://geni.us/nVLyaFs
Buy Vega 56 for Mining on Amazon - http://geni.us/TPdB

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to http://Amazon.com and affiliated sites.

https://youtu.be/Bpsvt3MK5Bo

Topic: Surviving a Bear Cryptocurrency Market as a Mining Farm Operator - June 2018 (Read 467 times)