Topic: When will you throw in the towel? (Read 900 times)
Dont know why you guys are complaining. You are making exactly 100% more profit from a year ago. Back when BTC was $1000 and ETH was $10.
Mining for a long time will be profitable, there are a lot of coins that can be mined on the GPU, but each decides itself when it is profitable, when it is not and it makes sense to tie with mining.
I'm just getting started...
I'm right now at 73 cent profit/card. 
[with ETH]
Although, I pay hilarious 36 cent per kw/h. (26 from next month on).
Maybe the high power costs are a blessing, b/c I'll be forced to sell the rigs
before gpu prices are collapsing and can make some nice bucks with this overpriced shit
by selling it to countries /w low energy costs. You know that this will not end well, right?
This whole circus will switch in sheer survival mode soon. The last one wins it all.
[with ETH]Although, I pay hilarious 36 cent per kw/h. (26 from next month on).
Maybe the high power costs are a blessing, b/c I'll be forced to sell the rigs
before gpu prices are collapsing and can make some nice bucks with this overpriced shit
by selling it to countries /w low energy costs. You know that this will not end well, right?
This whole circus will switch in sheer survival mode soon. The last one wins it all.
lol was going back looking at old threads. in sept we were complaining. look at us now that the shit has hit the fan.
ill keep hashing until i cant break even.
ill keep hashing until i cant break even.
The poll is based on how much each card is making not the actual profit. So it is more of a poll to see what peoples tolerance to low rewards are.
I agree with long term hodling but not so much long term mining, common sense must be used. So what I mean is if you are mining at a low profit or loss then it will be more logical at some point to sell aging hardware off. With that money you can buy coins and the benefit will be that you now have say a 8 months supply of mining rewards instantly. Then if the coin gets large gains in the market in say 4 months you would have made much more profit. It is a bit of a balancing act.
I agree with long term hodling but not so much long term mining, common sense must be used. So what I mean is if you are mining at a low profit or loss then it will be more logical at some point to sell aging hardware off. With that money you can buy coins and the benefit will be that you now have say a 8 months supply of mining rewards instantly. Then if the coin gets large gains in the market in say 4 months you would have made much more profit. It is a bit of a balancing act.
It has already been said too many times that it is best to mine for long term profits. I fully agree with that and I am all for mining even when it is below the profit margin.
I think the poll is flawed because why would anyone throw in the towel when they are making a profit (be it 1 dollar or 1 cent profit is profit)? It would actually be more interesting to see how far below the profit margin threshold would people start to sell their rigs. Would you still mine even if you are currently negative profits?
I think the poll is flawed because why would anyone throw in the towel when they are making a profit (be it 1 dollar or 1 cent profit is profit)? It would actually be more interesting to see how far below the profit margin threshold would people start to sell their rigs. Would you still mine even if you are currently negative profits?
I'm not going to quit the game again like i did for the first crash. I was mining LTC with six R9 290s before the first crash. If i would have kept going through the slow period i just might have that lambo by now.
Easy to answer. Go look at the history of GPU mining LTC. Mine and hold. Don't sell. Mine now, cash out when the coin you are mining goes up big time.
I can not pick any choice you have.
Here is why.
have 18 1080 ti's
and 1 1070
12 of the 1080 ti's have a flat power cost.
6 of the 1080 ti's and the 1070 cost and adjusted 20 cents a kwatt soon to drop to 10 cents a kwatt
the power cost on the 12 is ½ the coins earned.
thus that is 6 cards for free they earn 12 a day which is 360 clear for me.
the 6x 1080 ti plus 1 x 1070 = 13 a day which is 390 clear for me so that is 750 a month
and I pay for the 6x 1080 and 1 x 1070 about 1200 watts that is say 880 kwatts x 20 cents = 176.00 so I am netting 574 a month
next month my power drops to 88 a month
so 750 - 88 is 662 a month
for me to quit would be stupid once it is oct as my power is 88 a month with rate drop and free heat.
I could spend the 88 a month every month until the rates go up in may
that is 7 months make it 100 a month so 7 x 100 = 700 loss. who cares about 700 if you 18 1080ti's and an 1070.
I don't.
Here is why.
have 18 1080 ti's
and 1 1070
12 of the 1080 ti's have a flat power cost.
6 of the 1080 ti's and the 1070 cost and adjusted 20 cents a kwatt soon to drop to 10 cents a kwatt
the power cost on the 12 is ½ the coins earned.
thus that is 6 cards for free they earn 12 a day which is 360 clear for me.
the 6x 1080 ti plus 1 x 1070 = 13 a day which is 390 clear for me so that is 750 a month
and I pay for the 6x 1080 and 1 x 1070 about 1200 watts that is say 880 kwatts x 20 cents = 176.00 so I am netting 574 a month
next month my power drops to 88 a month
so 750 - 88 is 662 a month
for me to quit would be stupid once it is oct as my power is 88 a month with rate drop and free heat.
I could spend the 88 a month every month until the rates go up in may
that is 7 months make it 100 a month so 7 x 100 = 700 loss. who cares about 700 if you 18 1080ti's and an 1070.
I don't.
Altcoin market is pretty low. Eventually it will pick up. It just need more users and be more useful than being a money drain on investors.
Definitely in it for the long haul. Think after I grasped the depth and realized the potential for crypto and mining in my mind there was no thought of throwing in the towel really; probably more along the lines of "adapt or die".
I guess I just really believe that if you want the world to change, then you have to be willing to change it. I sold off a good chunk of 2 of my companies to get the necessary capital to begin expanding my farm, so as I have a fair bit of money invested already I think that definitely added to my bias of not giving up on it.
Haha as they say.. if you want to take the island, burn the boats.
I guess I just really believe that if you want the world to change, then you have to be willing to change it. I sold off a good chunk of 2 of my companies to get the necessary capital to begin expanding my farm, so as I have a fair bit of money invested already I think that definitely added to my bias of not giving up on it.
Haha as they say.. if you want to take the island, burn the boats.
Till da wheels fall off
With mining hitting new lows that we haven't seen in 6 months, at which point will you give it up?
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