Topic: To the ones who gave up mining or reduce mining because electricity costs - page 2. (Read 584 times)
May 19, 2019, 07:51:10 PM
I turned off mining for a while, but I am staking nowadays and started trading. Maybe I become lazy to start mining again or I am earning good enough from the trade! In my country, the electricity cost is a minor problem but the main problem is the government has announced to shut down mining and mining becomes illegal here!
May 19, 2019, 11:49:59 AM
You said it all and I really feel for you as I have done that already.
Actually it doesn't make sense being in a business or in this case mining where you will sacrifice more and end up with little or no profit.
I have resorted to buying the coins instead of going through trauma mining as electricity cost isn't encouraging in my location.
Maybe it will be profitable one day, but for now I will wait it out.
Actually it doesn't make sense being in a business or in this case mining where you will sacrifice more and end up with little or no profit.
I have resorted to buying the coins instead of going through trauma mining as electricity cost isn't encouraging in my location.
Maybe it will be profitable one day, but for now I will wait it out.
We are on the same boat
Nowadays the price of GPUs are very good in my country, but it doesn`t matter anymore
I`m curious, where do you live?
May 19, 2019, 10:52:28 AM
You said it all and I really feel for you as I have done that already.
Actually it doesn't make sense being in a business or in this case mining where you will sacrifice more and end up with little or no profit.
I have resorted to buying the coins instead of going through trauma mining as electricity cost isn't encouraging in my location.
Maybe it will be profitable one day, but for now I will wait it out.
Actually it doesn't make sense being in a business or in this case mining where you will sacrifice more and end up with little or no profit.
I have resorted to buying the coins instead of going through trauma mining as electricity cost isn't encouraging in my location.
Maybe it will be profitable one day, but for now I will wait it out.
May 19, 2019, 10:10:20 AM
Since electricity cost is a major factor in determining mining profitability then I'm afraid it would be more difficult to resolve your issue unless there will be drastic changes in energy generation in your country e.g. adoption of renewable energy - which could result to low electricity costs. Moreover, maybe you can figure out a more efficient mining operation by carefully selecting the most profitable coin from time to time and adapt with it since I understand most miners did suffer from the negative effects of crypto winter and I hope it will be changed anytime soon. Just don't give it up yet. Good luck! 
Thanks, I looked for solar energy or another companies to supply energy, but here in my country we don't have options
I live in Brazil, and I used to pay something like 0.14 cents in 2017
I had 25 Gpus mining and 4 CPUs, but when market crashed, my electricity costs went to 0.20cents, so I sold my rigs, and I'm holding my coins until today
What did you do with the rigs?
Still mining at loss, sold everything or just turned it off?
I confess that I miss my rigs, but there's no chance to mining with high electricity costs, better buy the coins with fiat
I just try to search a profitable coin with easy difficulty and good liquidity. I can pay my electricity with my own salary from my real job and i was not feeling worried about that dude. but my country still cost 10 cents. and that means if you have paid it doubled than me. Sold it and move to the trade and i will do that if that's me. I had 25 Gpus mining and 4 CPUs, but when market crashed, my electricity costs went to 0.20cents, so I sold my rigs, and I'm holding my coins until today
What did you do with the rigs?
Still mining at loss, sold everything or just turned it off?
I confess that I miss my rigs, but there's no chance to mining with high electricity costs, better buy the coins with fiat
But just curious about the performance of your coin and did you get some money from there after the bitcoin bullish?
I can pay electricity with my salary to, but I don't think this is the best choice for me, I sold my GPUs at the same price I bought (GPUs prices are at the peak) and it's better to buy the coins instead of mining, it's cheaper for me
After the bullish of BTC, I just hold my coins, all of then, ETC, ETH, Zcoin, Doge etc
For those who have just joined the mining industry, the current market downturn is indeed very bad. You can close the mining machine within the acceptance range, and then dig it when the market is good. Just a suggestion.
I'm not a newbie trying to join, I already did 2 years ago
I live in Brazil, and I used to pay something like 0.14 cents in 2017
I had 25 Gpus mining and 4 CPUs, but when market crashed, my electricity costs went to 0.20cents, so I sold my rigs, and I'm holding my coins until today
What did you do with the rigs?
Still mining at loss, sold everything or just turned it off?
I confess that I miss my rigs, but there's no chance to mining with high electricity costs, better buy the coins with fiat
Did you try to calculate how much your profits before you sold your rigs?I had 25 Gpus mining and 4 CPUs, but when market crashed, my electricity costs went to 0.20cents, so I sold my rigs, and I'm holding my coins until today
What did you do with the rigs?
Still mining at loss, sold everything or just turned it off?
I confess that I miss my rigs, but there's no chance to mining with high electricity costs, better buy the coins with fiat
Because with an increase in the electricity costs for about 0.06 cents will not be a problem for you if you can get a nice reward.
But that happened before, and I think you can buy another rig because I heard the price for the GPU was reduce too deep related to the mining difficulty was increased.
But if I were you, I think I will continue the mining process, and I think I will make deeply search for the potential coins to mining.
I calculated everything
It was not only 6 cents guys, the market crashed at the same time, I have a lot of profits before, but with ETH worthing less than 300 USD and BTC less than 10k, it's complicated to mining with high energy costs
May 19, 2019, 09:51:04 AM
I live in Brazil, and I used to pay something like 0.14 cents in 2017
I had 25 Gpus mining and 4 CPUs, but when market crashed, my electricity costs went to 0.20cents, so I sold my rigs, and I'm holding my coins until today
What did you do with the rigs?
Still mining at loss, sold everything or just turned it off?
I confess that I miss my rigs, but there's no chance to mining with high electricity costs, better buy the coins with fiat
Did you try to calculate how much your profits before you sold your rigs?I had 25 Gpus mining and 4 CPUs, but when market crashed, my electricity costs went to 0.20cents, so I sold my rigs, and I'm holding my coins until today
What did you do with the rigs?
Still mining at loss, sold everything or just turned it off?
I confess that I miss my rigs, but there's no chance to mining with high electricity costs, better buy the coins with fiat
Because with an increase in the electricity costs for about 0.06 cents will not be a problem for you if you can get a nice reward.
But that happened before, and I think you can buy another rig because I heard the price for the GPU was reduce too deep related to the mining difficulty was increased.
But if I were you, I think I will continue the mining process, and I think I will make deeply search for the potential coins to mining.
May 19, 2019, 09:29:47 AM
For those who have just joined the mining industry, the current market downturn is indeed very bad. You can close the mining machine within the acceptance range, and then dig it when the market is good. Just a suggestion.
May 19, 2019, 09:23:59 AM
I live in Brazil, and I used to pay something like 0.14 cents in 2017
I had 25 Gpus mining and 4 CPUs, but when market crashed, my electricity costs went to 0.20cents, so I sold my rigs, and I'm holding my coins until today
What did you do with the rigs?
Still mining at loss, sold everything or just turned it off?
I confess that I miss my rigs, but there's no chance to mining with high electricity costs, better buy the coins with fiat
I just try to search a profitable coin with easy difficulty and good liquidity. I can pay my electricity with my own salary from my real job and i was not feeling worried about that dude. but my country still cost 10 cents. and that means if you have paid it doubled than me. Sold it and move to the trade and i will do that if that's me. I had 25 Gpus mining and 4 CPUs, but when market crashed, my electricity costs went to 0.20cents, so I sold my rigs, and I'm holding my coins until today
What did you do with the rigs?
Still mining at loss, sold everything or just turned it off?
I confess that I miss my rigs, but there's no chance to mining with high electricity costs, better buy the coins with fiat
But just curious about the performance of your coin and did you get some money from there after the bitcoin bullish?
May 19, 2019, 06:42:47 AM
Since electricity cost is a major factor in determining mining profitability then I'm afraid it would be more difficult to resolve your issue unless there will be drastic changes in energy generation in your country e.g. adoption of renewable energy - which could result to low electricity costs. Moreover, maybe you can figure out a more efficient mining operation by carefully selecting the most profitable coin from time to time and adapt with it since I understand most miners did suffer from the negative effects of crypto winter and I hope it will be changed anytime soon. Just don't give it up yet. Good luck!
May 18, 2019, 05:35:03 PM
I live in Brazil, and I used to pay something like 0.14 cents in 2017
I had 25 Gpus mining and 4 CPUs, but when market crashed, my electricity costs went to 0.20cents, so I sold my rigs, and I'm holding my coins until today
What did you do with the rigs?
Still mining at loss, sold everything or just turned it off?
I confess that I miss my rigs, but there's no chance to mining with high electricity costs, better buy the coins with fiat
I had 25 Gpus mining and 4 CPUs, but when market crashed, my electricity costs went to 0.20cents, so I sold my rigs, and I'm holding my coins until today
What did you do with the rigs?
Still mining at loss, sold everything or just turned it off?
I confess that I miss my rigs, but there's no chance to mining with high electricity costs, better buy the coins with fiat
Jump to: