Bitcoin Forum

As the summer approaches how is everyone planning. We have depressed mining reward in USD terms. We will not have the need to heat our home.

Take a summer break. Go for holiday somewhere in a remote place. The price of bitcoin will restore very soon.

Anyway, I think the price should be controlled by the miners not the market deciders. Opinion?

I plan on selling my mining rig....buying an oculus rift...and enjoying warmer weather....

I personally think price should be decided on open market not by the miner.

I am interested in purchasing few 7nm GPUs in the summer if prices goes down. Currently RadeonVII is $770

Plans for summer ?
1) Sell all crypto that I have
2) Sell all mining rigs

.... and get a bunch of hookers and cocaine, hehe..

The worst thing you can do  :D :D :D


This make sense to me



METROID.. Is that you?? Lol ;D

By Summer we should have a better knowledge of where we will be in regards to Bitcoins price and the price of alts such as Ethereum.

Also by the Summer hopefully we will see some developement into the ProgPOW which was promised by the ETH Foundation and hopefully be able to power up our GPUs once again.

If all else fails, then by Summer there should be less supply of GPUs on Craigslist/Ebay and we should be able to fetch more for our GPUs.

If we will have a hot summer and the crypto prices does not increase
then the rigs will go to a summer vacation. Still, hope that it won`t be the case.

Not a bad plan. I know it's way too hot here where I live in AZ to be powering up my rig for the summer.

I don't need to plan anything else except the summer vacations, I have the mining rigs although very few in a basement which is cool in summer and very cold in winter, yesterday I was just checking and the daily reward was 3.3 dollar daily that means with my electricity cost I am about 45 dollars in profit for a rig.

This can also serve as a warning whose places gets very hot during summer. We don't want to see a house burned because of overheated mining rig. Make sure it stays cool and away from direct sunlight. Better move it to the deepest part of your home like the basement.

I don't think it's also a good idea to stop mining during this summer since most cryptocurrency are slowly growing. You don't want to miss profit from the speculated upcoming bull run.

I think summer is the season that i will close my rig due to hot weather and it will consume more electricity plus need extra fans to cool down the rig i thin the expenses is not worth it to mine this summer  ;)

Try to use natural ventilation. As for me - in my warehouse there are doors in front of each other and it helps in summer time. If ure mining in the house - try to make a draft.

I didn't mine before, but, i think that you just shall mine an altcoin if you have a good mining rig. Just invest your mining power into an altcoin and leave the coins in your wallet for an other time, why losing the time and shutting down your mining activity when you just can change the pool/the coin. I think that there's alot of good choices out there so try not messing up.

I'll probably shut down the rest of the few machines I still have as I'm expecting a warmer summer than usual where I live, and I don't want to turn on the AC just for a few GPUs and ASICs. Might become a bit more profitable to mine in the future if coin prices continue to rise upwards as I'm expecting them to (longing BTC and ETH on Bitmex as a result), but I'll likely go on vacation and turn them off for a month or two anyways.

The market pumped a bit lately and hopefully the recovery will continue and the price of the coins will further increase and the mining will be profitable again even with the required cooling included  during the  summer .

I see a good pump this year so I buy extra mining rigs and also want to spend some vacation while my brother takes care of mining machines . Time to rest  this summer and experience it. I am planning to go to my province and spend the summer with my relatives.

I have planned to move to Alaska (or other cold place for that matter) with my mining rig.

Jk I don't even have mining rig lol

Just bought a water cooler for my detached garage, without it temp will go to 120.  Keep my 75 gpus and 4 ASIC running.

Yeah in summer it will be wrong decision to do mining. Cause in summer weather become very hot and there need much electricity.

mining is nonsense nowadays. You can get more coins buying them then mining them. The psicological reason why people mine at a clear loss considering what i said before, is that they have invested a lot of money. Turning mining rigs off and buying coins is like accepting a fail for that investment.

It is what it is. People continue mining so as not to get frustrated with a failed investment.

Summer is comming. There is no economical reason to continue mining. Heat is going to harm you life , specially if you have your mining rigs inside your house. The best option right now is to turn them off unless prices skyrocket. only in that case i would even turn them on.

Since that is NOT GOING TO HAPPEN not at least in the next 2 years, your machines are just ok off.

It's going to be a bad day for miners this summer. The heat will surely make mining rigs stress. Just going to mine some altcoin because it's going to be more profitable this summer than mining Bitcoin. Also, it's less hassle for me so I could enjoy the outside vacation.

Get few of this or something similar Industrial Exhaust Shutter fans (https://www.ebay.com/itm/183626743331) install it , and make sure you creating a very good airflow, your rigs should be ok :) Make sure you going to use some kind of air filter (https://www.ebay.com/itm/151678319042) on the fresh air intake side ;)

I also think on several altcoins to try to remember in the summer, as there will be more time. Without good cooling, of course, I will not get in:)

I dont see any problem. It was the same summer 2018 and it wasnt a problem, why it becomes a problem now? Stop your rigs, go on vacation and dont cry at the board.

In the summer, it is best to find the coldest algorithm, but at the same time it is profitable ;D Either sell all the GPUs and buy the BTC on them and wait for the next pump ;)

better defining summer.
if OP lives in a place like Rio de Janeiro, Brazil summer is 41 celsius.
if OP lives in Helsinki summer may not be higher than 33 celsius

many summers on the same planet.

but I'd agree with most suggestions:
take a brea
or get an air conditioning system if you live in hot climate

lol what?  Algorithms don't have temperatures. 

I do think you will make more money if you sell any hardware you have and just put it all into the coins you believe in.

You could install an electrical socket externally and then house your mining gear outside instead e.g. in a shed. Better still put it in a greenhouse and help your tropical plants and flowers

Smart mans plan is if you don’t have solar stop fucking mining lol till profits return

But lol they won’t listen , I’m shutting down the bulk of my op , only leaving the ones in my basement since I get 20 percent off with savers switch but even that might not be enough for me to keep running them in the summer

It was so. Lyra2z was cold algo before new miners understand how to get hashes from it.
You can believe in a wrong coin and get nothing but with GPUs you can get any coin and even if you are wrong - you have an equipment to get another coin.

Since we don't see a great indicator of bullrun these last few weeks, I suggest you just keep your rig mine altcoin that you think is gonna huge in the next 2 quarter and get a great summer vacation. Who knows, but maybe after the break we can see a bullrun and you already prepared.

I am also sure that the Altcoins will manifest themselves in the next six months. Mine altcoins can and should be for the future.

Bitcoin mining does not bring the profit which it used to bring 2 years ago. In the country where I live electricity is very expensive, that is why people sell hardware and go on trading only.

The price of the coins that are mineable has increased lately and I suppose the RIGs will work at the summer period as well, despite there will be no need for heating, rather for cooling.

You're right. Summer is coming soon and this means that the heat is starting soon and the hardest times for miners and their equipment will come. This is still a headache!

Will water cooling rigs be a good solution for the summer or it will just be a waste of money and resources?

I haven't really had time to do anything crypto related this year since It's my last year at school but I'm thinking about mustering up a manageable amount of money and building a couple of decently sized gpu rigs now that mining profits are looking better and small miners have the luxury of getting generously discounted cards from miners that are selling their rigs. I just hope the market doesn't move too fast and we don't get to the hype cycle until at least the end of summer/ autumn.

Water cooling will only make the rig a little quieter, the heat will still be there and will need to be removed somehow anyways. And it also makes the rig very bulky and its expensive if you got loads of rigs.

A few years back Bitmain made a water-cooled Bitcoin miner, I think it was called the Antminer C1, I had one for a few months. It was great because it was quiet and you could leave it in the office or sleep next to it, however it still generated heat and you had to put it somewhere there was good ventilation. And it was also bulky with the radiators and all the tubes sticking out.

Your best bet if you live in a house is to put them in the basement or garage, if you don't want it heating up your house.

First if all, you're completely ignoring the fact that the great majority of people, either knowingly or unknowingly, go into mining as a lower risk way to invest in crypto. Yeah, you won't make as much coins as you would've just straight up buying them but you'll still be able to ride the bull run and if the market happens to drop by 80% (assuming you didn't buy your rigs at inflated prices during a mining craze) you can still sell your hardware for 50-80% of your initial investment. It's almost impossible to invest crypto into new mining equipment and end up with more crypto than you initially started with because you're competing with people who are putting fiat in mining. And it's probably going to stay this way until the price stabilises for good.

Secondly, other than a small number of people in northern america/ europe most people never got to the point of mining at a loss since they're paying on average around $0.03/ kwh, maybe up to $0.05/ kwh in a relatively bad scenario.

This summer I will continue to accumulate cryptocurrencies. I also launched one coin validator. I'm going to validate all summer. I really hope that this project will be successful.

Everything shows that now it is necessary to accumulate crypto in your hands. The market moved into a rough growth phase and after halving new records for the price are very realistic.

Plans for the summer. To find projects that will help me mine cryptocurrency with pos I think to make a list and in the summer to switch to such coin mining. And in general there are many iterative projects now. But winter crypto is too rastroil and I think just to go on vacation.

I've lowered my operating cost from 24 cents home mining down to 8 cents mining at  colo now where most of my rigs are at.

 I also self installed 20 solar panels on my home to power my house and 1 gpu rig thats in my office with a ceiling exhaust vent fan.  So i did make some investments to lower my operating cost.  I did borrow from my 401k so I'm practically hedging the stock market and not selling cryptos at the lows to fund my solar. 

So that's how I planned for summer 2019.

Looking back I would have made more if I just bought btc at 3300 but my wife was pissed about the markets in December/Jan  and threaten to divorce me if i bought more crypto during that time. So we decided on solar to hedge out our long term strategy that works for both of us.

Mining the Sun power is a lot of fun lately. :)

In my plans for the summer is to wait (if it will be in the summer) bull run and sell all illiquid coins. Because it is very difficult for me to keep track of a large number of projects at the same time.

Price of Bitcoin and other altcoins is growing, while miners are not joining so fast. You should be still in a profit even you invest more into cooling and electricity.  :)

When you're hit down 10x you've got to get up 10x. If mining profits have tanked, then you get into it with higher momentum so as to get better results.. Moreover, the market has been showing some improvements off late so maybe some good news are incoming.

I did actually laugh when reading up about that divorce thing and for sure you wife now do regret on stopping you that time if she do currently see

on whats the price of bitcoin as of this moment but well in regards on the solar panel thing.This might be a good option but havent you consider
on reaching up your ROI? ;D

I have also been somewhat discouraged in this regard, and taking into account the low profitability I am getting in the currencies that I am mining and the usual high temperatures in my country, it is possible that I take a break before deciding whether to continue in business or not. What is clear to me is that I should take advantage of this break to improve my trading skills, because apparently there are better yields in it, but less easily than in mining.

Since I did a self installation and got my solar panels from wholesalesolar.com.  I will actually less than a 4 year ROI.  Thats actually faster ROI than a gpu rig build if your electricity is a little bit on the high side.  And the biggest benefit is after the equipment is paid off  the solar system will keep giving me savings for 26 years+ whereas a gpu rig after 4 years roi of mining the cards  will be garbage.

Here's a breakdown of their cost.
https://www.wholesalesolar.com/shop/grid-tie-packages

solar system with shipping $8500 for 891 kwatts a month.  This is the average house hold use or close to an S9 running all the time.
Solar Design $275
City Permit approval $286
Junction box and conduit pipes and extra wires $300

Total cost before rebate $ 9361
Solar Rebate from State of 30 percent. =  - $2808
Final cost after rebate $ 6553  (I'm sure some of you 1080 ti folks spent close to this on your single gpu rig build out with 6-8 gpus)

ROI time = Your monthly home energy cost without solar.  Say for example around $150.  Your roi is now $6553 divide it by $150 which equals 43.68 months or 3.64 years.

Since these figures are very close to what a gpu rig takes to ROI and also the gpu system cost is also close in price of a solar system.  One should really consider going solar especially if your electric is above 15 cents.

Do take into account for my specific situation I live in california and electric rate is 22 cents for tier 1 electric use.  My roi time is actually much faster due to high price.  891 kwatt generation multiply 0.22 cents = $196 month of electric use per month without solar.  $6553 divide by $196 = 2.78 years ROI.  But i'll round up since I probably need to pay minumum pge electric delievery charge.  3 years ROI is not bad and I'll enjoy 27 years + of free energy

Summer is not a season that is favorable for mining.  If you are not kind of guy who uses immersion cooling from 3M Novec then you need to use extra chiller (e.g. water-cooled ) for your rigs which means additional cost of mining. If you have  very little room for such additional expenditure than it is better to postpone mining, IMO.

If you have a mining rig/masternode or anything else that can give you "small" income while you are remote, then I suggest you run that rig/node and forget about crypto this whole summer. We might see a bull run this year but if you looking at your portfolio every second it will just ruin your summer.

The cost of that solar system is pretty much cheaper compared to the ones being sold on my country.I tried to checked out the site you had mentioned

and i do see with my very own eyes that prices are way too good for setting up some of this panels.Im quite hesitant though on making transactions or shipments
abroad.

The solar wholesale company is professional and legit and very helpful.  They give wholesale prices and cut out any middle men.  They sell the kit or hardware and promote Do it yourself so you can get the lowest price per watt.  I knew nothing about solar and manage to install it myself.  If you can slap a gpu rig together you can probably figure it out.

I would email them about specifics about shipping to different countries or if any customs fees, currency exchange, etc.  See how well they manage outside of usa solar purchases

Depends on the type of home you live in. If it's a house then move it into your attic, just get a handyman to make a few sockets from the light bulb and you're good to go.

So many people are planning a summer vacation for mining, what I think about connecting to the net ;D. An additional call for this is more higher prices.

DONT DO THIS!

Running mining rigs on your attic LIGHTING RING is asking for a fire!!

Lighting circuits are 6amps, Thay cant even handle 1 fully loaded 13a plug

STOP GIVING ADVICE WHEN YOU HAVE NO CLUE MAN WTF!

The power of the sun will also be beautiful and fun, that's true, but planning to build your own mining plant in California, with those temperatures and that electricity cost, I think you'll soon find out you haven't made a proper investment.

It would have been much better if you would have bought the coins you wanted (Bitcoin and others) during this winter; in this way you would have obtained two significant advantages: greater economic return and the freedom of a man ;D

Jokes aside, my advice to you: sell the equipment before it gets too old and enjoy the sun ;)

This summer I'll keep accumulating and searching for everyway to increase my portfolio before the next bull run... BTC has already shown it's teeth, so the end of the year seems to be very promising...
Mining allows you to accumulate and sell when you decide (as long as you have your electricity issue sorted out)... and the mistake for small miners is aiming at top coins with too high dif....

so far, I plan to look for popular masternode coins, and have some income from that. but, until now, I am still just looking for information about it. right now I'm also learning how to build minning, and who have cheap energy bills. well, lots of plans for this year.

Hopefully when summer arrives, altcoin can heat up too, I mean in the summer of 2019 crypto market prices will soon improve and return to peak prices so crypto lovers can enjoy the summer while on vacation and enjoy the fruits of their business.

Ya and we all gonna drive lambos and drive off to the sunset.
Get real dude. Not every miner will get rich. The altcoins market can stay bearish for years. I don't expect any altcoin season this year to the scale of 2017. That only happens every 4-5 years when crypto becomes cool again by the masses. Plan accordingly

My only plan is to find a cheap 1000W PSU and move all 3 of my mining GPU's into one case, and put that case in the living room where the air conditioner is. More efficient = less heat. In the same room as AC, bedroom doesnt heat up, win-win.

This is a good example of the typical intelligence a miner has.

Are you a highschool dropout?

there are many popular and profitable masternode coins out there, zcoin is probably one of the best. besides that there is almost no mining with cheap energy bills unless you build something extraordinary to make the best use of energy.

If you think miners control Bitcoin, I can’t get mad at you, it’s also not a super intuitive concept to understand. A “hashwar” is a fake concept invented and promoted by people who don’t understand how p2p network governance with full nodes works. Miner consensus is only relevant if they mine valid blocks. If they mine a different “coin”, users are not obligated to switch. A miner can spent billions of dollars on energy and hash rate mining blocks…but if it doesn’t follow the rules to which you agree, you can reject those blocks.

To accumulate coins you don't necessarily have to do mining, but you can simply buy them in exchanges .... faster, cheaper, less energy and less time, and you decide when you want to sell.

Mining is a very professional work activity, which requires commitment, energy, intelligence, and MONEY; to all this you have to add the fundamental point, without which everything falls miserably: how much do you pay for your current and where do you have your RIG?

If you miss even one of these points, mining is not for you; better to buy directly in the exchanges!

Although painful, perhaps it is the most realistic comment I have read in the thread. It is true that many still yearn for the golden days of 2017, when one woke up in the morning (if you could sleep) just to find a new ATH in almost any currency.

But perhaps 2017 will go down in history as unique and unrepeatable. Even in four or five years, when a new cycle of volatility occurs, I do not think it will repeat itself with the same intensity observed two years ago.

well,my home already on heat even it's not a summer,lol
and i keep continue keep my home heat more with still mining some ETH.
even it just for small profit,at least i still got some profit.

Who needs to heat their homes during summertime? If anything electricity would go towards aircondition and not towards a heater. Too many miners chasing that profit will simply drive profitability close to zero.

I hope people mine in 100 degree + weather and wear down their equipment.  I've seen retarded miners on youtube do this.  That way there mining gear won't last in the next bull cycle and they will be out of the game.  It's a marathon not a sprint.

Summer electricity prices are higher then in winter, and it gets pretty hot in the US. I say steady as she goes, set aggressive fan curves, and get ready to replace some fans.

Summer is known to be a very non-active time of year for all crypto enthusiasts. It seems to me that it is better to rest(morally) during this period and make a reboot to start mining new coins with new strength))

I just want to know what are the different master node coins in the market, because i have been trying to learn many new things about these master Node coin and how far we are going to make money with these master node coins? Will there be any value to those master node coins.

Why so? For me summer mining is just more time to the rest, less time to the mining. I would not make coins research, catch pumps, etc. Just mine some of the profitable coins and check how it goes 1-2 times per week.

I believe he was referring to coin / token prices that generally go down a lot during the summer months, or at least it was in past years; even in the stock market during the months of June, July and August, share prices tend to fall, because traders prefer to sell and rest a couple of months .... in fact, in these months the volumes of all the sectors fall a lot too. .

Precisely for this reason, however, it may be a good idea to extract some more profitable coins, because the hashrate is lowered and becomes cheaper .... provided that you do not have to cool the house / room with fans / air conditioners!

It was only last year. In 2017 all was just growing up like after rain. Nowadays there such a quantity of GPU in greed miners hands, that we can dont wait lower hashrate - if the profit grew up - rigs powering on.

need more effort in this summer to do some research on which the most potential mineable coin eith low difficulty level and for sure with low cost. honestly i did mined inefficient coins all this time, poor me. thats why i would not fill my portofolio (again) whit mineable shit coin that seems easy to mine but comes with zero value. hope will find the right and potential one, i will highly appreciate if anybody can guide me and give me good suggestion. thanks in advance

Bitcoin price is raising! Who would predict it few months ago? People were too much pessimistic about future of Bitcoin and they spread JOMO and what happened? The opposite! Bitcoin is the strongest and most profitable digital growing asset!