What would you do? | Bitcointalksearch.org

jardine

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Quote from: m50b25 on November 07, 2018, 06:50:35 AM

Hi everybody. I have a small farm. around 70 gpus. Had around 100 before but sold of little bit and gave away a couple gpus to family and friends for their gaming PCs.

64 gtx 1070 of various modells.
6 AMD RX 580 8GB Sapphire mostly.

I have reached 100% ROI ( Return on investment )
I have almost mined Ether all the time.
And i must add that i am a long term beliver.

What would YOU do now? The Power cost should NOT be taken in to consideration.

English is not my main language just so you know.

If i m was you, i m definitely continue mining, if you say ROI is back already and electricity cost not the issue.
Try to mine all new coins or shitcoins with low difficulty - it s much more profitable than stable mining (Eth, Zec, Xmr etc).

DrG

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Quote from: roosbit on November 14, 2018, 01:18:44 PM

With a 100% ROI already I see no reason why you should stop mining despite giving out some of your gpus out, maybe for the fun and experience try mining another coin besides ethereum...who knows you might just hit the jackpot.

Instead of scaling down , scale up and give yourself another challenge, I know you won't resist this challenge!

If you earned back all your mining equipment value less electricity fees then perhaps it can be profitable to continue mining if you have low electricity rates. The question being posed, or which should be posed rather, is what is the MOST profitable course. Of course nobody can predict the future with certainty so it comes down to a risk vs gain analysis.

Does the small gain earned while mining on a card outweigh the depreciation on a card? If the crypto market takes off again card values will soar and you will have made profit from both mining and also reselling your card at a later time. If it doesn't take off then the $0.30 earned on a 1060 doesn't offset the $0.40 depreciation.

Looking at the charts I feel the sentiment is still bullish for the time being with short activity still putting downward pressure.

roosbit

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Random coins :)

With a 100% ROI already I see no reason why you should stop mining despite giving out some of your gpus out, maybe for the fun and experience try mining another coin besides ethereum...who knows you might just hit the jackpot.

Instead of scaling down , scale up and give yourself another challenge, I know you won't resist this challenge!

BillieCrypt

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The profitability of mining has dropped several times, but, nevertheless, it still makes a profit. I think that it is worthwhile to continue mining and change part of Ether to Bitcoin. Part of GPUs, especially the production of AMD, you can switch to mining Monero. This coin should not fall due to its popularity among those interested in anonymity.

Garou

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I had about 35-40 GPUs, full nvidia. Had a bit electriticy advantage than atis but Its very hard to keep them up if you dont have any other income.
Sold them all, I was completed the roi 100% too months ago. Im not sorry but trying to trade for now.

adaseb

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Quote from: DrG on November 13, 2018, 02:53:43 AM

If you guys think the 2nd hand market it dead now, wait until nVidia finished unloading it's Pascal glut from mining overproduction during the Christmas sales. Only then will it drop the RTX prices, but when it does those RX 470s and 3GB 1060s are going to be sub $100. The 3GB 1060s won't be able to even mine ETH on Win7 at that point so all the legacy people like me mining on Win 7 rigs will dump even more 1060s onto the market (well I only have 1 rig of 6).

Bills will be due in January and many people will liquidate crypto earnings (possibly profits but even losses for new people) just to have fiat. I can't see this crypto market turning bullish in the next 4 months sadly.

I'm down to 14 cards mining now - my lowest number since 2011. But I do have a lot more free time now that I don't have to manage a farm Angry

I have no idea what the prices are for the 3GB 1060s but the RX 470s are already going for sub $100 on eBay.

Basically if its anything like the repeat of 2014, then it will be another 6-12 months of horrible second hand prices for GPUs and eventually the entire supply will get absorbed.

It will get absorbed by people trying out mining as a hobby, gamers who want a budget build, and other uses like people buying GPUs for rendering/computing work/etc.

DrG

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If you guys think the 2nd hand market it dead now, wait until nVidia finished unloading it's Pascal glut from mining overproduction during the Christmas sales. Only then will it drop the RTX prices, but when it does those RX 470s and 3GB 1060s are going to be sub $100. The 3GB 1060s won't be able to even mine ETH on Win7 at that point so all the legacy people like me mining on Win 7 rigs will dump even more 1060s onto the market (well I only have 1 rig of 6).

Bills will be due in January and many people will liquidate crypto earnings (possibly profits but even losses for new people) just to have fiat. I can't see this crypto market turning bullish in the next 4 months sadly.

I'm down to 14 cards mining now - my lowest number since 2011. But I do have a lot more free time now that I don't have to manage a farm Angry

m50b25

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Quote from: swogerino on November 09, 2018, 02:26:17 AM

I think this needs a short and good answer. If you have made 100% ROI and you don't care about power costs just keep doing what you are doing and in the long term I think you will be rewarded for your faith in crypyocurrencies.

Yes. Thats what i probably will do.

Quote from: Comino on November 09, 2018, 03:57:35 AM

I will agree with many replies above. First, congrats, you’ve reached ROI and covered your investments. I hope, you’ve also had some income cashed out. Now, even with the electricity costs, cryptocurrency fluctuations and the world not being able to predict the coin prices, you can still keep mining and have a good return. Keep mining ETH with the majority of your rigs, but also look around and change the algos for some of your rigs to mine some new coins, which might (or might not) have a bit speedier potential. Good luck!

Thanks. I mined LTC, VTC, DOGE, FTC and a couple other coins back in 2013-2014 and some of them did go higher and some just died.
so thats what i most likley will do. Just have to find some good coins to mine. There are a lot of coins out there.

Quote from: peryskop on November 09, 2018, 07:57:00 AM

mine ZEL https://zelcore.io/ https://zelid.io/

Team that under promise and over deliver.

Thanks. But where do i read more about mining it?

peryskop

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mine ZEL https://zelcore.io/ https://zelid.io/

Team that under promise and over deliver.

Comino

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No noise. No hustle. Quiet as whisper. Comino.

I will agree with many replies above. First, congrats, you’ve reached ROI and covered your investments. I hope, you’ve also had some income cashed out. Now, even with the electricity costs, cryptocurrency fluctuations and the world not being able to predict the coin prices, you can still keep mining and have a good return. Keep mining ETH with the majority of your rigs, but also look around and change the algos for some of your rigs to mine some new coins, which might (or might not) have a bit speedier potential. Good luck!

swogerino

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Bitcoin Casino Est. 2013

I think this needs a short and good answer. If you have made 100% ROI and you don't care about power costs just keep doing what you are doing and in the long term I think you will be rewarded for your faith in crypyocurrencies.

m50b25

newbie

Activity: 13

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Quote from: tenebriscaelum on November 08, 2018, 07:20:14 AM

I my opinion you should still mine but have more diversity in what you are mining but with the majority of it in your preferred cryptocurrency and the remaining to other altcoins. Also if you think that you already have used the GPUs to a certain extent then it is time for you to sell it and buy a new one though buying a new set of GPU might be a waste of money since the market is in a bearish state. Well in the end it is up to your choice.

Thanks. Thats what i probably will do. Any good coins you recomend?

Quote from: RagingBull on November 08, 2018, 07:50:33 AM

if you don't need urgent money and you've covered your costs as roi suggest you mining low-volume coins on the market. Suqa as a good start can be for you

Thanks. I will check it that coin up. Do you recomend any other coins?

RagingBull

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if you don't need urgent money and you've covered your costs as roi suggest you mining low-volume coins on the market. Suqa as a good start can be for you

tenebriscaelum

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I my opinion you should still mine but have more diversity in what you are mining but with the majority of it in your preferred cryptocurrency and the remaining to other altcoins. Also if you think that you already have used the GPUs to a certain extent then it is time for you to sell it and buy a new one though buying a new set of GPU might be a waste of money since the market is in a bearish state. Well in the end it is up to your choice.

m50b25

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Quote from: adaseb on November 08, 2018, 03:18:27 AM

Alot of miners are asking the exact same questions pretty much. They don't know if they should keep mining for $0.25 profit or just sell the GPUs or just turn them off temporarily.

The issue with selling them at the moment is they aren't in demand and prices on eBay are very low. I have seen some RX 470/570 GPUs going for as low as $80 USD on eBay without shipping.

You can keep mining but profits are very low, everyday you mine you might risk wearing out some GPU fan or just wearing out the GPU itself.

Hence why for some, its just worth it to just temporarily shut off their rigs and turn them on in the future when the profits are greater.

Exactly. The second hand market is pretty bad right now. I have almost 2 years warranty left on all of the cards. So wearing them out is not a problem.
Does anyone think that maybe i would get much more coins for the cash i would get if i sold the hole farm and bought coins instead.
I mean maybe i would never get as much coins from mining than to just by the coins directly with the cash from the hardware sale.
I will most likely just keep on mining but that was a tought.
Thanks for you input.

Quote from: umine on November 08, 2018, 05:32:51 AM

Quote from: m50b25 on November 07, 2018, 06:50:35 AM

But what is the problem?

Quote from: m50b25 on November 07, 2018, 06:50:35 AM

The Power cost should NOT be taken in to consideration.

If so there is no reason to stop mining. Unless you urgently need money.
Moreover prices of used GPU now is quite low so selling GPUs now also not the best idea

In my case power cost is the main that should be taken into account. But I found more cheap electricity placement and my rigs give me a profit.

No problem. I just ask what would you do in my situation.
I know the power cost is one of the most important things. But in this case, i dont want to take it into considiration

Quote from: codegnome on November 08, 2018, 05:17:25 AM

In my opinion you should keep mining. I would only undervolt cards if you have not done it. Since we are not talking about the costs of electricity, the more you should not stop mining.

Thanks. Yes the RX 580/570 cards are undervolt and flashed since day one. The GTX 1070 cards are at 100w power in simplemining (SMOS)

umine

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Quote from: m50b25 on November 07, 2018, 06:50:35 AM

Hi everybody. I have a small farm. around 70 gpus. Had around 100 before but sold of little bit and gave away a couple gpus to family and friends for their gaming PCs.

64 gtx 1070 of various modells.
6 AMD RX 580 8GB Sapphire mostly.

I have reached 100% ROI ( Return on investment )
I have almost mined Ether all the time.
And i must add that i am a long term beliver.

What would YOU do now? The Power cost should NOT be taken in to consideration.

English is not my main language just so you know.

But what is the problem?

Quote from: m50b25 on November 07, 2018, 06:50:35 AM

The Power cost should NOT be taken in to consideration.

If so there is no reason to stop mining. Unless you urgently need money.
Moreover prices of used GPU now is quite low so selling GPUs now also not the best idea

In my case power cost is the main that should be taken into account. But I found more cheap electricity placement and my rigs give me a profit.

codegnome

sr. member

Activity: 782

Merit: 258

Betking.io - Best Bitcoin Casino

In my opinion you should keep mining. I would only undervolt cards if you have not done it. Since we are not talking about the costs of electricity, the more you should not stop mining.

adaseb

legendary

Activity: 3808

Merit: 1723

Alot of miners are asking the exact same questions pretty much. They don't know if they should keep mining for $0.25 profit or just sell the GPUs or just turn them off temporarily.

The issue with selling them at the moment is they aren't in demand and prices on eBay are very low. I have seen some RX 470/570 GPUs going for as low as $80 USD on eBay without shipping.

You can keep mining but profits are very low, everyday you mine you might risk wearing out some GPU fan or just wearing out the GPU itself.

Hence why for some, its just worth it to just temporarily shut off their rigs and turn them on in the future when the profits are greater.

m50b25

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Activity: 13

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Quote from: leowonderful on November 07, 2018, 08:31:58 AM

If you’re a long term believer in crypto, the answer’s obvious to me, and that is to continue mining with the cards even after they have broken even. Power’s not an issue as you stated, so there really isn’t a point where it might be more profitable to buy coins than mine at a loss, but if you truly believe in Ether, keep mining it! There’s no guarantee the price of ETH will go up, but if your viewpoint is that crypto will become more successful in the future, go with it.

Thanks for your input. I was thinking maybe to sell of the hardware and buy coins for the money? What do you think about that?

Quote from: crairezx20 on November 07, 2018, 09:01:14 AM

I don't think if it's good if you continue to mine ETH since your miner is GPU's you can mine with other coins that I think have potential to grow than ETH.

Look at the other miners out there they are mining other altcoin than ETH because they know they can make profit compared to stay mining with ETH and honestly, I stop mining ETH because according to whattomine and coincalculator ETH is not profitable right now and most miners out there switching to Raven coin which is more profitable in Nvidia cards.

The other miner are mining new PoW coins because they know after 2 to 3 months the price will increase and if you mine the new coin I am sure that you can get higher rewards due to low difficulty compared mining on high difficulty so that you can hold your coins and sell after 2 or 3 months if the price increase more than 300% or more(Depend on the price).

Thanks for your input. What coins would you recommend? I have heard about raven coin from Voskcoin on youtube. Nothing more than that. Maybe i should read about it.
I was thinking maybe to sell of the hardware and buy coins for the money. What do you think about that?

Quote from: fanatic26_ on November 07, 2018, 01:02:19 PM

With the crazy prices and not all that impressive mining speeds for the dollar I think the cards you have will remain the de facto standard for a while to come now. I would keep grinding away, maybe take a risk with a machine or two on a new coin if you think it will go somewhere. Once you have reached the breakeven point, its much easier to experiment without worrying about your returns.

Thanks for you input. I totaly agree with you. I mined with AMD 7950, 7970, RX 280 and RX 290 cards a couple years ago. The cards is sold for almost the same price now as when i sold them. Pretty crazy. I was thinking maybe to sell of the hardware and buy coins for the money. What do you think about that?

fanatic26_

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With the crazy prices and not all that impressive mining speeds for the dollar I think the cards you have will remain the de facto standard for a while to come now. I would keep grinding away, maybe take a risk with a machine or two on a new coin if you think it will go somewhere. Once you have reached the breakeven point, its much easier to experiment without worrying about your returns.

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