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Tell me if my plan is bad, the first time i entered crypto space i started with mining rig setups but after some time its no more profitable so i stopped mining, now i start joining airdrops and bounties but present market condition is not helping, now i decide to sell my rig and find other business to divert the money to, if bull run ever comes i will still have coins to sell since most of my bounties i hold the ones with use cases, is selling my mining rig a good call?

I don't think that mining right now is no more profitable because I believe mining is still good but the case is it is just so slow to earn profit right now especially the building blocks of the blockchain by solving it to earn profit in mining. You transfer to airdrop right now and I don't think that it is good because most of the airdrop nowadays are just a scam or fake so many people are not going to take those airdrops or maybe the airdrops was real but the price of the token that they will give was a trash. Joining and participating in bounty is a good choice but be careful right now because there are a lot of fake bounty right now which is a scam bounty.

Presently mining is good for those who wants to hodl for long term and sell later, its bad for those who wants to instantly take out their profits because the rewards are too low, not worth it and its wasting of electricity

you do not need to hesitate, as long as it is profitable then do it. there is no point in keeping the mining rig if you do not use it, the hardware price might be decreased(based on the market demand) if you keep holding it and do nothing about it. might as well you sell it right now and use the money to do something that is profitable for you.
think about it financially, we are doing it for the sake of profit.

If you are a small miner and that's better to sell your mining rig as more big miners are coming from the major coin like litecoin and bitcoin very soon. The halving becomes the main problem that makes so many medium levels of miners are moving from the major coin to the altcoin. Mining is not worth anymore for them anymore in the major crypto.
Remember about ROI that becomes even longer consider about more miners join will increase the difficulty for the coin itself. It's better for you to take that decision by sell your rig and then move to another business.

I cannot give a final decision
but you have to make sure to yourself,
Do you have a lot of funds? and whether you are a professional miner, at least even if you are not professional you understand how to mine and manage it, so as to minimize losses,
if you don't have both, then you can sell your rig and buy assets like ETH or BCH and then save until the bull run comes,
but if you have both, you can continue mining, or vice versa.

Right now it is not the best idea to make money on crypto currency. Maybe just investing will bing you some profit in the future, but not bounties or mining, because difficulty is too high, prices are very low and no project is able to collect enough funds.

Did you try mining these days and calculate whether you're still earning. If you see it no longer profitable due to electric bill and other expenses it consumes better sell it and use that amount to trade. Try to do day trading or buy alts that   have updates that can still be profitable since market really isn't good now in any activities so we need to learn more skill to be profitable.

In the experience of my friends, small miners for now are not as profitable as they once were, the high prices of electricity and GPUs are also getting expensive. Only large miners can get the maximum profit because they have worked closely with the electricity provider. so it's useless or does not produce if only has 6-12 VGA, my friend said maybe if mining altcoin which has the potential for the future and hold, can still be profitable. or if you are in a tropical climate region can use solar panels as electricity generation. my suggestion for the OP is to choose a coin that has potential and hold. using solar panels as generators. or sell your rig if you are desperate, and look for a more tangible business.

it depends on what you are holding. you are holding valuable tokens, it will pay off, but if you are holding tokens that are worthless. no matter what happens, it will not be productive.  i tried cloud mining and it failed me. i lost my funds and bitcoins. it was impossible to withdraw my funds. i prefer the airdrops and bounties. but currently, it is worthless. trading might be the only way but it is stressful and dangerous.

I think it's best that you sell your mining rig and find another business that will help you to make a big profit. Because bitcoin mining is no longer profitable and I read an article that would take four years before you could mine 1 Bitcoin.

And I think it's better to invest in bitcoin now
because next year bitcoin it will possible rise due to bitcoin halving that will take place in May 2020

it’s obvious that mining is changing very fast. 2020 trend will be mining on POS. there’s no need to buy any equipment. it’s quite simple to buy coins and hold them in your wallet or on some exchange that offers payments for coin staking. all smart miners have already sold their equipment

in my opinion, if your only a small-time miner it is not really profitable now to mine because there is a lot of competitors

I guess the current situation is not bad for mining. It is not a good time to leave the market. Why do not you wait until halving after you have spent so much time on bad prices? There is an expectation of an increase in prices, even if this does not happen just try. The choice is yours, but it will be late when prices are increased. Bounty rewards will not give you what you expect.

If Bitcoin is going to succeed, then mining has to be profitable for enough miners to send and confirm transactions. So I expect the price of Bitcoin to continue to increase as the mining difficulty increases. Otherwise the system breaks down. However, individual miners could get phased out by large mining farms and corporations that are more efficient.

If you continue to experience losses you better stop mining activities first and for now looking for bounties or airdrops takes a long time to become money. Try to find work in real life if you are still able to find work

if u consistent , just go ahead , i also have 2 rigs and well , i still let it alive , still mined a ETH , for make it sure , i am not get any profit from it.
its just for gambling about ETH v 2.0 later ,
i also have a idea to sell my rigs when ETH v 2.0 out of my expetation.
but the point , if you think, you can't do anything else with your mining rig now, just sell it ,because the price will going down day by day.

If mining is removed, it is necessary to upgrade the technology and create a decentralized network that is stronger than Bitcoin, ethereum, litecoin and some other mined altcoins.  Currently, there are many good projects that are developing well with newer technologies and investments, cooperating with larger organizations but the value and popularity of the market cannot be compared with Bitcoin.
The biggest problem with mining is that the algorithm has only allowed mining to create reward-coin and only mined to the limit.  As for the technology projects just release and circulate, some projects can modify the source code to increase the number of tokens or coins of that project.  That is also the reason for losing the scarcity and desire to own from the user.
If the Libra of facebook actually works and is supported by strong partners as in the announcement, this will be the world's most popular and highly applicable blockchain network.

you said mining isnt profitable anymore ? so you are free to sell those miners that you have since they wont be useable anymore .  i heard that old miners can become obselete because the difficulty of mining increase from time to time  . with that said , you can sell your old miner and use that money to buy another new miner and you can now mining better  . hodl that coins that youl be gettin and sell when the market pumped for more better profits    .or you can keep your miner with you if you dont want to sell it and wait for your coins to boom  .

than you sell it better you find another job, maybe the rig will come back useful again when prices have improved because mining requires substantial capital capital. or it's good if you still have some funds, you use to trade, so far trading can still provide benefits.

To me mining with rigs or hardwares will soon be a thing of the past. Technology is improving by the day and there is a project ongoing called TLS. The concluded their STO few weeks ago and guess what. One can stake his TLS on their platform to mine ethereum and other stable coins. I'm sure many other projects like that will come some and to sell your rig at the time will become impossible. It is possible you sell now.

It's your decision to take. But by mining, you are not just brining a profit to yourself but are contributing towards sustaining the coin. Miners are the soul of crypto (Mineable coins).
What coin are you specifically mining. Both the BTC and ETH do have a huge possibilities of rising sharply next year as BTC goes through halving and ETH through upgrade.

I think selling the rig is only a good plan if you do not plan to use it. If you want to use the rig there is no point of selling it, if you don't want to use it then whats the point of a rig staying in your basement not being used and collecting dust?

Literally selling it and spending the money on movies or netflix subscription is more valuable than letting it rot in a storage somewhere.

I would totally still use it, it is both helping the ecosystem being faster and cheaper, plus it is also making you some money, maybe it is not profitable but it is still has a revenue that is lesser than the cost so if you can eat the difference you could potentially make a profit in the long run while you are helping the ecosystem yourself. Hopefully you will use it, but if you don't want to use it definitely sell it.

Isn't mining still profitable, at the moment there are more transactions that need to be confirmed by miners.
My advice is you better keep running the mine because the miner will always be needed.

as far as I know mining is still profitable, but maybe he has other reasons about things that are not profitable. but my advice is it is better not to sell your rig because one day mining will definitely be needed again

You have no guarantee that those tokens from bounties will ever have a good price if the bull run comes. But you can try if that's your plan however, don't expect that something high would come from them just to save your feeling.

About the decision you made upon selling your rig, if you can't it any longer and you want to sell it, don't ask if your decision was good enough because we can't turn back to the time whether we say you made a bad decision.

Buying mining rigs was the worst my decision in the mid  of 2017, heh :)
Decided to sell them a couple of months ago - I think I did this right. At least I can invest this money in BTC now and will earn something instead of holding useless hardware in my garage...

If you aren't making any profit from mining, then why are you mining in the first place? Just quit. Also, if you think that in the future you will no longer be able to mine do to the cost, then just sell your mining rig.
Airdrops and bounties are just waste of times. You will be making dust amount that won't even cover your transaction fees. Try doing something more efficient!

if you compare mining and participation in bounty programs, then I can definitely tell you that mining is more profitable for you. I do not advise you to sell your mining farm as your coins received from bounty programs may turn out to be wrappers. Mining coins you can choose the most profitable coins. Yes there are times when you want to throw everything and get out of this industry but do not try to do so. Soon your efforts will pay off.

Since I do not know what the value of the mining rigs is, I can not give an exact idea, but would not it be more profitable to use it instead of selling? After halving, BTC mining will be twice as hard that is why mining may be the most useful choice.

Do not rely on bounty tokens. When the market increases, the bounty tokens are more likely not to increase.

If you're already losing money on your rigs, I don't see any reason why not to sell off your rigs. As much as I support PoW mining, there's no telling if mining could become more profitable in the future, and it's not a good nor safe idea to be hoping that it does. You're probably only going to get less money selling the rig(s) in the future as technology and efficiency advances pretty rapidly and used equipment tends to lose value relatively quickly, so if you do decide to sell, doing it quickly is best.

If you think a bull run's coming up ahead, you could use the funds you gain from selling your rigs to just buying some coins and waiting for them to go up as well.

It should depend on you. If you never get profits from your mining anymore, I think selling the mining rig setups is the right choice. However, before you decide to sell it, have you tried some different strategies to manage your mining? If you have tried it and found nothing, then it is okay to sell. Anyway, I don't mine to earn Bitcoin, because I think trading is much better for the current condition. Following bounties or airdrops are not a too bad choice, but don't hope to earn much money from them.

Time passes and some ways of earning become irrelevant. Simply always need is in search of something new and combines several ways earnings. Then your profit will be much more pleasant.

Selling mining rig now is good, already very hard to look for there just make electricity bills swell but the results are in getting a little.
Indeed unfortunate trend mining early in the first bitcoin is still cheap to be a money seeker that is indeed potent and fast but now instead makes us lose.

If your equipment is designed to mine bitcoin only and you do not have a lot of capital to upgrade or add more equipments for the upcoming halving next year then it is better for you to quit now and sell it for at least low percentage loss. On the other hand, if you are mining altcoins then there is no need to worry about since you can easily change the commands for your graphics card to mine the altcoin that you want.

It depends on the price obviously, if you can get someone on board at higher than market value than it might be worth it.  Flip that in bitcoin and hold.  Should be a better proposition when thinking in terms of profit. 

The truth is if you want to sell your mining rigs today it will be for few pennies, i suggest you hold on to them and find new coins with low difficulty rate to mine and sell once they get listed or have good value, presently market condition is the reason why everything looks impossible in crypto space, hopefully things will change

You have to acknowledge the truth, for mining the difficulty is way too high and for bounties prices are way too low because of market condition, it will be wise to keep your rigs or sell if you are lucky to see good buyers

Though its your choice to make, i sold all my mining rigs and i never regret it, though i sold for lesser value but i still don't regret selling and i divert the money on ETH, locked away in my offline wallet thing market takes a good turn

Dude do not sell your rigs, we are all in crypto knowing how risky it is right? since you are a bounty hunter too why can't you just find new coins with low difficulty to mine? you might get lucky through this as well, two heads is better than one they say, your expectation will altleast no be from bounty hunting alone

In my opinion, if you feel that mining is not profitable anymore then why did you remain in that field, cryptocurrency investment has many options, you can divert your funds to a profitable one in the case of your mining rig if you don't want to go back into crypto mining anymore it means that those rigs are no use at all so its better to sell it and use the funds for additional capital but the decision still yours you can do better judgement then stick to it.

Well you will hear a good news regarding ETH switching to PoS so that you could grow your stored ETH by staking it and that could probably drive the prices up since people potentially sell their rigs for ETH to stake. Also I must agree that the difficulties right now is too high it's ridiculous and there's no chance for small miners to even get their return of investment.

Depends on many factor such as "when do I want to profit? do I stock up? do I wanna take this risk?" and so on. Mining in general isn't that lucrative anymore so weigh out pros and cons and decide carefully.

Ethereum switching to pos will get a price raise from people selling their rigs and putting their money into eth.  I hope you really arent telling people this, there are many ways that funds will come and go into a coin.  But switching proof and banking on used mining rigs sales, then that being converted into market buys is straight ludicrous.

If your not interested to use your own mining rig, I think it is very much better to sell it now. However, if you still double mind about your mining rig to sell it I suggest you to use once more, because for me in my opinion, I doubt that mining rig is not profitable anymore, it is still profitable maybe you just became impatience only because the market was in red situation now. Why not give more a little to wait for this, just a thought only.

as uses with different option on working on customs with bitcoin investment helps to improve returns with decision on expends partisan with the field of altcoin gains as the customs on arrange to modify on use to run with plan on extensive modulation following terms with work on major compliance as the chance of attains on field of business with the crypto finance.

There's no more thinking about the electricity cost, and besides bounty campaign only involve time and effort, of course, less electricity consumption, so you have done the right thing in disposing of your mining rig and just concentrate in bounty and airdrop.

You have two options.

Either you can choose a coin which has low mining difficulty and has better potential over the shitcoins so you can able to reap profits from that mining but it will take time.

Or you can sell those rigs and invest on a coin which is doing good at the moment.

What is he going to do with a mining rig that is not giving any profit, mining is not an easy process now a days and if he finds that it is a burden it is better that he sells those and invest those amount in the coins rather than holding it for a long period of time which will depreciate the value of the hardware.
@OP  if you are getting a good buyer it is better to sell the hardware rather than holding it.

First of all, before you start everything you need to make an analyst first. It was not your bad idea to choose mining for the first time you came to this industry but seems like you just wrong to choose an altcoin to be made as mining place. You have to make an analyst first to the coin that you choose to mine, see the fundamental analyst and its movement price I guess you won't wrong to become a miner.

So now you decided to be a bounty hunter right? It needs an analsyt too, don't just pick the bounty campaign but randomly or based on the token that will you gained. But it will be good you see the coin's function first before you participate on the project. Take a look to the market how many bounty hunter who complains that the coin that they get just didn't have a value and become shitcoin.

I think this is a bad idea, because when a new cycle of market growth begins and everything flies to the moon, no one will sell you back for the same money that you will give now and you will regret it, since you could make a lot of money , I think that you need to weigh everything so that later you would not complain and not whine.

If switching business from mining to something else is lucrative to you, go switch and do what you think will do better for you.
I don't see it as a bad idea. We should look for other things not just for the future while he's suffering currently and can no longer take the pain at these moments, that's the solution that he came up with.

Mining is no longer profitable during the year-long bear market of 2018.Mining won't be profitable at a small scale unless you have access to free or really cheap electricity. I think selling rig and invest it to any good project will give you more benefits.

Don't mine if it's unprofitable. Nobody is going to tell you to mine at a loss.


Tell us what are those coins that you're holding. The coins with use cases that you got from bounties. I'm interested because 99,9% of all new coins are junk and have no use cases so I'd like to know your opinion.

Ya what's bad about mining is that your gear depreciate in value along with the altcoins you mined. Anybody that mined altcoins and held lost over 96 percent in value plus equipment depreciation

A lot of miners will never get back the cost of electric they spent.

Even if you mined top quality alts it did not matter. Zcash, Ltc, kmd, zcoin, etc loss tons of value over the past 2 years and making new lows every week. Even if a recovery happens your still making pennies after electric due to too many moonboys that think it's cool to earn a few pennies a day.

Mining is for losers and the quicker you realize that you can move on with your life and put that money elsewhere into other skills and better yourself

If you would have mined btc only you would be okay if you got cheap enough electric like 6 cents.

if what you ask about selling your mining rig then the answer depends on you. such as your initial capital expenditure when purchasing mining equipment and the percentage of profit / loss when you mine. if you want another business then you can still do it like trading or crypto investments.

Nice point to discuss. I was at the same point which to take and which to leave. Mining is costly than swing trading or bounty activities with airdrop or anything. I decided to close all the mining tools and concerned about trading daily rather than holding a coin or token periodically. I wait such long to make an entry but never being greedy. But if you do airdrop or bounty activities with your own skills, I think that would be a good choice for sure. Am also trying to enter in this space as well.

Instead of selling your rig, maybe you should think of moving to a location where mining will be profitable. I believe the main downside of crypto mining is the electricity costs. So, perhaps moving to an area with low power costs can help keep you profitable once more

You are really right, because it is electricity that takes a significant part of the profit.  To remove this problem, you need to think about alternative energy sources and, first of all, you can think about wind power plants or solar panels, which you can not only buy, but also build on your own.  In order not to worry about your equipment, you can purchase convectors that will stabilize the flow of electric current.

only the brave and the experts do this know, but if you cannot keep up anymore, your decision is correct, mining is not profitable nowadays and there are too many things to monitor, compare to bounty hunting and trading the cost is a way too lower, you have nothing to regret you did the right thing, if I am in your case I'll also do it.

Mining nowadays is I think of less profitable then it was before. The mining has just slowed down a lot and if you are talking about some airdrops that are new, they have a pretty good chance of turning out to be scams or something like that. So investing and bounty are good as I feel like.

I would support your decision. Whales are entering the cryptocurrency mining sector in droves and they are pushing out the smaller and medium sized players. Never before the mining sector was this much centralized. Giant sized mega mining farms have made life miserable for the smaller players. You did the right thing by quitting mining and selling your rigs.

There will come a time when you will have to dust off your mining rigs and start mining again, if i can remember clearly it was very profitable to mine in 2017 bullrun so that time will come again, keep your rig or sell, the choice is yours

Mining is not profitable on old rigs anymore unfortunatly, your decision is right

Since you are a stating that you are not profitable with your mining operation then it makes complete sense to sell your equipment and get whatever money that people give you for it, the problem is that you are trying to substitute whatever income that you had from mining by joining airdrops and bounty campaigns but the current period that we are experiencing is not really good for bounties.

In my opinion you should get a job, get paid in fiat and then use that fiat to buy whatever coin that you like with a very strong preference on bitcoin and ethereum and if you already have a job then get the second one and do the same.

Mining is the most profitable and reliable method of making money in digital coin market. For those people who have doubts regarding this technique, they can Google the monthly earning of miners. The amount obviously depends on the coin being mined too. The thing that keeps people away from adopting this profession is the initial amount required to set up mining machines. That is a bit costly so trading is preferred.

Mining cryptocurrencies are really not useful now for the miners whoever spending their money on setting up the new rig for buying ASIC miners. Because has rate of the old cards are produced and new colour also capturing the market and bursting the miners whoever doing mining as their business.
We people need to invest on trading or other platform will be giving better returns.

If you have already foresee that mining does not benefit you at all, you have made the right choice to give up doing mining for a while because if you have already seen that you are no longer taking profit from it, or you can still gain profit but not like the usual, then it is your freedom to decide to sell your mining rig and seek for another profitable ways that will suit your preference and the situation you are currently up to. Do not regret that you have set free your mining rig if you have already seen that it does not work anymore for you and you already need an immediate source of income which you can rely on. Maybe once the hype turn on once again, you can set up buying one again but for now, earn and earn with the new ways you are currently into.

Mining has now become an extremely complex activity, which requires large investments and above all a very careful optimization of processes, otherwise one simply works at a loss and makes no sense.

cryptocurrency mining is indeed a very good step because you can get coins with your own tools and can produce very large amounts without having to buy coins, but you should know that now if you do cryptocurrency mining it's not too profitable because at this time the level of difficulty of mining is increasing, and the cost of electricity is expensive with the results of coins that get very little and the price at the exchange is also very cheap will make mining no longer profitable.

We are in a complex time to make decisions about cryptos because we are not heading to an easy future

It's a good idea to sell your rigs if they are not getting any profit to you, so you can put money on another investment
I sold all my rigs because my electricity rate in my country is very expensive, and I put the money on traditional invesments, not on cryptos because I already have a lot of money on BTC and altcoins

So, sell your rigs, make a plan thinking in any scenario and try to make profits, it's not easy but you will have to research for your own

besides that the price of mining equipment is increasingly expensive, so between capital and operating costs with the results obtained are less profitable. of course operational costs such as electricity is an obstacle, especially with the bearish trend, of course, fewer transactions

With the presence of ASIC, it really destroys the miners who uses ordinary GPU which is a lot less efficient than ASIC that was made for the sole purpose of mining bitcoin and specialized in that. I really agree that mining is just a big no and a waste of time for people with small capital like us. It's like we are racing with donkey meanwhile other people riding a Lambo and to bother with joining the race just doesn't make sense at all.

This is pretty much the same cycle for most of the old adopters and some "Legendary" people here on the forum. Many started mining BTC back in 2010 with CPUs, then later with 2011 with GPUs, then in 2012 with BTC ASICs , then in 2013 with GPUs mining LTC, then in 2014-2015 mining various alt-coins like Darkcoin, then 2016 mining ETH, then 2017 mining pretty much anything yielded a profit.

Then eventually mining got unprofitable or they got bored and they sold their rigs and just hodl their coins in cold storage and sell during a crazy fomo rally like we had in late 2013, and late 2017. Most likely this same cycle will repeat again.

But as the time goes on, it gets more and more difficult to make money mining. Too many people in this business. Too high supply of GPUs and ASICs to compete.

Never regret your decision believe in you this is the best you can do. You only need to share problem in forum/ group to get solutions, we all will help you. Sell your mining equipment is good step from there you will have basic fund to start new strategy. This is red market all method fall but it doesn't mean no solutions. Some people built on line shop, built blog/ web for business and become freelancer, chose which one for you and good luck.

And not only that if what we are seeing now is in fact the beginning of a bear market then it doesn't matter what you do as a miner you are going to lose money because you are going to have to operate your mining equipment to generate bitcoin and the costs will be higher than the profits that you can get, and there are not many people or businesses around the world that can operate for a loss for a long time.

It is way better to sell whatever mining equipment that you have and wait for the market to keep going down and buy bitcoin for a low price and then wait and hold your coins until the moment the bull run appears.

Yeah, good luck with those.  With the ico market dead (or at least dying), I have a feeling that bounties are going to become fewer and fewer, just like signature campaigns declined in 2018.  And you're lucky if anything you get from an airdrop holds any value before you can sell it.

I would say that if you're not mining anymore and don't plan to ever again, sell the rig.  But if you have any reservations about not mining again, keep it because you may change your mind.  You never know if altcoins are going to explode through the roof, and mining might become very profitable again.

I don't think that only investment can make a profit. When we invest in a coin, of course we hope that in the future the price of the coin will increase and give us profits, but we do not know what will happen later, we can only get profits and we can also get failures. There are many ways to generate profits from cryptocurrency based on a way that matches what someone wants to do, whether it's trading, investing, mining and also doing bounty hunting.

It is not worth to mine if your electricity is too expensive. Mining is for those who have free electricity or low value of it unlike here in our country, our electricity is too expensive that is why mining is really not advisable here. Joining some airdrops is not bad as long as you know you are entering because we all know that there are really a lot of scammers out there.

You made the right decision and the timing is just right, I don't know the electricity cost in your area, but buying goods coins with good potential is far more better than running a mining rig now, and you also did the right thing joining bounty hunting, but there are a lot of bad bounties right now, only join when you do a research on the project that you are going to promote.

Until now I have never felt the sensation of mining coins, when my friend invited me to try cryptocurrency, he suggested to join a signature campaign or trading, because mining does require quite a lot of free time to keep mining and sophisticated computer specifications . Therefore I do not really know and might try a new sensation from mining

If you don't like what you are earning find a good buyer who can buy the rigs at a good price to cut your loss but if you can't find a better buyer I suggest you keep mining even if its little profit you are getting, tomorrow is another day and change is constant

There are too many part of your query. You are selling your rig but not stating how much hashing power they have and what coins you are opting to mine. Based on that data one can tell whether you can sell or keep your rig.
Present market is down and I think its a golden time to update your holdings with coins that are available at discounted price.

Yeah, he made a good decision, as he can still earn in different ways, especially if the mining is not profitable anymore and it is causing you stress and trouble, so don't waste your time and sell it as soon as you can, and those money that you have earned from selling, then use it to start again, either trading or investing.

If you can get a good deal on it then sure sell it. If you have already made your money back on it then maybe you want to keep it for new coins you kind and want to support. You need to look at other things besides bounties and airdrops. Most people doing these things are sheep that join any campaign and don't even support the coin they work months for.   :-\ They think this is a way to earn. Bounty hunting would be if people took pride in it but they don't. It is just a spam festival. Having 50k members on telegram means nothing if you only a few of them active. Or you can have an endless amount of human bots that retweet your tweets for you.

I say if you get a good deal sell it. If not keep it to mine new coins that you support and not just mine for a profit. You can still make some decent coins if you mine new coins that shoot up in value. You almost always certain to get the value of the money you spent on electricity back so you lose nothing.

indeed confusing because actually mining will be profitable. but if indeed he already has the right desire then try selling your mining machine at the best price so that it can be used to trade or invest with potential coins

how much profit do you get in mining when using the rig? if you are not satisfied with the results of the mining then the answer depends on you, but in my opinion if you sell the rig then the next is to invest with some of the top coins like eth, eos, ltc, or bnb, using money from your rig sales.

Perhaps in this area I do not have much knowledge, but I always pay attention to the conclusions of experts regarding the price level of a particular cryptocurrency, the profit for mining remains.  For example, Bitcoin mining retains its profit even at a price of $ 4,000.  Therefore, if we take into account current prices for Bitcoin, then mining is profitable even taking into account all the waste of electricity.  And if you take the current state of lightcoin, then almost all Chinese miners are already refusing this coin, since mining is not profitable.

I have personally not been a fan of mining and its simply because I find it more time consuming and requires more of my attention which could have been diverted to other businesses.
Mining may be earning some bit by bit income nowadays unlike before the earning is huge. Therefore, I feel the little gain is not worth the stress, if you don't have much time. To me, I feel the decision is okay though.

If you are willing to continue your quest inside crypto industry, you can use those funds to start dealing with trading and investing. But there's still a high
risk that you need to understand. Quitting mining as the expenses is getting much higher should be consider, you need to recheck if there's still potentials or you need to switched to another ventures of business.

Quitting mining is what we think of. In my opinion, you should not give up exploitation because this job is very good and has many benefits.

all decisions are in your hands, you must be able to choose the best decision.. the biggest problem that miners face is the cost of electricity, if you are able to keep the electricity costs down to very low then you will get profit.  my advice, don't sell your mining equipment, if one coin is unprofitable, you can choose to mine another coin that is profitable.

setting up a mining rig is also very potential and opportunity, and the job you do without profit is because you have not done it properly yourself. It is right to enter the cryptocurrency market but you need to gain experience.

Not as many benefits as we think because the has rate which we get nowadays are peanuts which does not suffice the electricity and internet bills, moreover most of us who started small scale mining at home have already incurred huge loss and I have recently sold my mining machine for 10x lesser value because it was useless for over an year now. Mining sounds good but it's not for individual.

I don't really think that mining is profitable to be honest. It's always kinda be profitable for just the first few months and then you'll end up losing. We all know that the difficulty of mining are increasing , so it always will be so hard to mine after a few months. Like we're seeing here on the site where is estimating your earnings using some mining machine https://www.asicminervalue.com/. I'm sure that you'll notice later that if you'll buy them you'll not be in the profit anymore in just in a few couple of months

This is why I never get in touch with mining, I assume this going to happen as centralized mining are emerging. I can't get enough just thinking what rate I need to maintain a good benefit of mining without getting a huge expense on electricy coz electricity in my country is quitr expensive compared to others.

That's sad, it could be much more beneficial when it generates a lot. Bitcoin price is gaining enough but it seems mining is getting harder and more expensive isn't it? Too bad for miners like you.

it is wrong to sell the rig. you can find a better new way to get better than selling a rig. It is a very good money making tool.

mining is difficult because we need tools that require a lot of funds to make it and also spend quite large funds for electricity but if he sells the tools then he must wisely use the funds he gets. do not let him misstep again to invest or trade, so he must really have and practice the ability in the investment market

it's not until you can find a good coin to be mined with your mining rig. Remember about the competition in mining is very hard today consider about the difficulty of the any major coins the increasing a lot.
It's a good decision when you cna't even create a few dollars from your mining rig everyday.

It is actually depends on you if you are earning some good money and you can pay the bills like internet and power source which is very important when you are mining because here in my country it is hard to mine cryptocurrency because the bill of electricity is high so you can lose your money just by paying source of power and not even earning that big amount of cryptocurrency. If you have actually the free source of power like a solar panel to mine, it is actually good but if not, do not do it. It is actually the expensive way of earning crypto because you need to have high specifications of video cards and many more before you can earn a lot of cryptocurrencies.

Hello! Now mining is good altcoins with low cost. But we cannot guess what their future will be. And mining something worthwhile is no longer profitable. My friend sold his farms. It has become very unprofitable. If it is not difficult for you to mine, then you can continue to continue.

If you are not planning to have a big operation is better to invest that money in BTC or altcoins instead of mining equipment.

It's the timing that matters when you are going to invest with new coins, some might provide good results but most are not providing any profits.
Choosing coin is not that easy there's a lots of competitions and a lots of people who also wanted to take the opportunities to mined coins then
 received good benefits after.  Quit if you are not sure about the business or stay if you are willing to take the risk.

Actually it's not bad to quit if you find your rigs are not giving you any profit since it will give you a headache for continuing operating it and instead earning from it for sure you will lose since the maintenance fee is not cheap for those machine. But the decision still yours and maybe for now try to find a different altcoin and run a test for several months but if the result still the same maybe it's the time to quit and find a reliable business model that can be worth for your money and time.

Most people are very slow to adapt to the new circumstances in the market, the strategy of using bounties and airdrops to try to get some money was effective during 2016 and 2017 but now during the last two years those strategies are just a waste of time, this reminds me of the time in which people used to try to get money out of bitcoin faucets and there was a time in which this was mildly profitable but now it is just a waste of time.

And it seems to me that bounties are following that very same path and I'll not be surprised if in the future many projects decide to not use bounty campaigns to promote their project.

if he sells it then he is also ready with new things that he will do, because if he doesn't sell it he will continue to lose. but must be really willing with the consequences that occur in the future. because the decision is in him who owns the rig machine

I was mining. But I quit about two years ago. Because I can't afford the electricity. Mining is now in the hands of large companies. It doesn't make sense for a small investor to mining. If the electricity is free, then no more.
There has been a sudden increase in the difficulty of Ethereum mining in recent days. I think there are those who are enthusiastic again.

Bounties are getting worse and worse, without any possible increase in the future. Mining seems not so attractive as well, because the prices are very low and the difficulty is increasing over time, within 6 months all miners will become trash.

but I am sure that mining will be profitable again, and this is only a matter of time in my opinion. but the thread maker wants to sell the machine he has, if indeed he has a strong desire then just do it and get ready for another place

Mining the people who need to be more careful in this case. Because the rules for Bitcoin mining much else.
1. You don't need to make a profit.
2. Miners also makes long-term plans yatırımcılardırç
3. smart traders should be selling at the right time.

I wish there was a better way for mining. Mining is a fun hobby. I'm interested in new technologies. But the electricity costs too much. It's unreasonable to do things that might hurt you. A direct altcoin investment can be made instead of mining.

if you are individually mining bitcoin with GPU there's just no hope anymore because the presence of ASIC miners and it will be profitable again either if the price goes really high or the most of people quitting mining therefore less hash power which means less difficulty (will adjust after 2000 blocks). However, plenty of altcoins can still be profitable for mininig, just need to be selective.

Now mining reward is twice than 2021, without bullrun everything is non-profit like mining, trading or bounty hunting. But stay alert mining will start when another halving will come of Bitcoin. Until now staying by trading or bounty hunting as a part time job.

Some are still gaining profit even the difficulty is getting high. Commensurate with the market prices of coins that can be mine its really a good start up to prepare in mining and not just buy a rig and set up to get leverage income isn't that so simple as it sounds. I advise you to hold it for a while or unless you van find a buyer that can compensate all youre expenditure on that set.

indeed there are still many people who are still doing cryptocurrency mining but you have to know that now if you have a few mining tools then it's difficult to be able to make a profit, at least you have to have a mining class company to be able to get a lot of mining results, the price at the exchange place which is still very cheap and not conducive is what makes mining a little profitable.

In my opinion, mining is not a lucrative venture especially when you're into small scale mining. It's best you sell off your mining rigs since you don't intend continuing with it, instead of leaving it idle without making money out of it. Bounty is a better option for earning some income, though it's not stable but could be lucrative.

Mining is becoming less profitable for small miners that have outdated equipment. The big mining farms are more efficient than us small guys. It’s almost better to just buy Bitcoins rather than mine them right now.

If it is true what you say, that undergoing mining is no more profitable anymore. That means the decision made is right, with quitting the
world of mining. But in my opinion, don't sell the mining rig you have, who knows if you change your mind and want to start mining again
doesn't need to buy a mining rig anymore. Now my advice is to stop mining for a while first, while looking at market conditions for the next
few months. Do not be too hasty in making a complete resign decision from the world of mining. For now try searching another way to make
money, maybe try trading who knows in the world of trading luck on your side. But if you want to trade, you have to be careful seeing market
conditions are still bad.

As long as you are putting the product as your main consideration and nothing to worry about that. even if there will be a lot of the competitors for such coin but as long as it was have the best product among others and people will actually use the product. But to mine the major coins look very difficult these days.

The crypto price is already in the red zone and tends to decline. On the other hand, the difficulty level and the number of competitors is too high now, so I think your choice is right. Many whale mining companies have closed because they cannot cover operational costs, so from this reason you can reconsider your decision.

Depends on the rig you have and what its capable of mining and if its good quality alternatives it can mine, then you could continue to operate it and wait for alt-season to arrive which it will eventually, so no need to fret about low prices at this stage and you can always sell later when the market improves

I think yes, because from what i see when mining really viral in my country, who get profit is who start early. And then after viral and then people start to build mining rigs, they don't know if diff really increased, and the rig itself. And now a lot of people really confused about still mining or not. If me i will movee faster and make a decision because we must look other kind of investment that profitable.

I think mining is no longer profitable, but the question is how big is the rig you use? If the rig you are using now is good enough & still produces good coins then keep it up, you still have a chance as long as you can be patient waiting for the market to improve.
but conversely if your rig does not produce decent coins or the results from as long as you mine is not enough for operational costs then my advice is better to sell.

I think your plan is not bad. if you are sure you will not mine then selling the mining rig is the right decision. because I think doing crypto mining is also not very profitable and mining requires a considerable operational cost. it is better to sell the mining rig and then use the proceeds of the sale for entrepreneurship. but even though we already have a business we also have to keep holding bitcoin for long-term investment.

Mining rigs easily get obsolete so i don't think its wise to keep for better days, look at those once fastest Asic miners they are now not profitable anymore, because of this i never dreamt of buying mining rigs 

Firstly, i want you to know that quitting something just because it no more profitable wasn't the right solution and i think you should do is ask others that does the same thing they do and make profit because you might be using an outdated equipment which could be the reason why you're left behind or you might need to do the double mining strategy (i.e mining two or more coins). No advise about the mining is valid now since you have sold the mining equipment but i will advise you not to keep your hope much on the count you get through airdrop and bounties because most new project of these days are a failure.

I think its not a bad decision if OP decides to sell mining rig because they get obsolete fast, i have mine too but its too late now because if you mine on the rig its in total loss

if you only plan to mine bitcoin its not really a good idea if you are a small time miner
the best solution is look for new altcoin to mine or lease your rigs in miningrigsrental

You make a good point but buying  but mining rigs is not a bad idea. However, the OP question was not about mining rig been obsolete and i think the mistake the OP made is not buying the latest mining equipment version which i believe it was the reason he was unable to mine profitably after he sold his old mining rig.

That's the truth, when the big miners keep on adding new rigs to their arsenal the difficulty will adjust automatically and the profit generated will become a lot smaller as well making those rigs get old really quick. The only way to seek profit from mining is those alternate coin with relatively low difficulties but nowadays it's just too rare because most of alts with low difficulty are just shit coin that have value close to zero.

yes that is the right decision now mining is very unprofitable because the market is not yet entering the bullrun period and also the bullrun period is not coming soon, it can take several years to sell the  minning rig for other business use that's the right decision

how much would you lose if you sell the rig now?
yes it is indeed the right choice because it will not produce if mining now.
some of my friends also complain about it, or if you still have more money you don't have to sell it.
because the price follows the price of btc when they fall in price so it's cheaper that's why I asked earlier.

I think if the OP can get their money back by selling now that they should. If they lose a fair amount then maybe they should keep it for altcoin season as you say. There still are some good coins out there and the ones that just come out you can mine few days then we there is more popularity and more miners sell. I have made some bitcoins that way. You make more than mining eth mining on the speculation of a coin in my experience doing it.

Always do deeper study and analyze each decision you made as there's still chances that alts season might happen one again. Tough for everyone who are experiencing great losses from dealing with their mining setups. Quitting or continuing will depends from how you understand the business that you take part. Keep looking for the best outcome of your investment and be positive in anyhow aim for what is best for your money.

If the maintenance and electricity fee to keep up requires quite the amount it's better to just sell his rigs tho. There are some people that have no time to speculate random altcoins and the value of mining rigs depreciates over time. But, if he could keep up mining some random altcoins maybe it will give quite profit though I'm not sure it will create an enormous profit like it used to be and there's no guarantee that we'll see altcoin season anytime soon considering that all the hype in the past that goes toward altcoins mainly caused by ICO or IEO.

This happens in all the markets, if you are a small miner you have no option but to buy your equipment at a retail price but those huge farms gets big discounts when they buy their equipment, so even if every single variable remained the same then they will have a huge advantage due to their lower costs and if that was not enough they can get access to cheaper electricity as well.

The only hope of a small miner is to begin to mine coins that no one knows and hope that at some point in the future those coins are worth a fortune, but that is too similar to bounty hunting and it seems to me like a waste of time.

mining became less profitable since 2017 if you are small time miner there is no point on mining coins, electricity cost is too high , at the same time all difficulties are so high,  it will be hard to break even, for small miners, miners with lots of mining machines has the advantage , ofcourse, so I think this applies to small time miners not the big ones

Instead of having the rig sitting around with no added value, I think it'd be better to sell it and put the money into something else you believe will bring money.

Considering the cost of electricity, rig and all required for mining, I would advice you sell the rig invest the money into some offline business or pick up some tokens and hold for bull run.

If you do believe that you will never go back to mining, then feel free to decide what will you do in the rig. You can put out the hardware online to offer it to other people. Personally, I prefer other tasks in this industry because mining is beyond my knowledge and understanding. It can be the best decision because you can use the money from selling it to invest in crypto.