Bitcoin Forum

Bear market looks like a bad news for miner out there but not for me there are few things that makes bear market an awesome season for miners and investors combined

1. You get more SATS at cheaper price
2. Mining difficulty decreased alot, more room to get more SATS from whatever coins you are mining

It's a shame that some countries out there have high electricity bill which unfortunately will make miners quit mining once bear market starts, I'm glad I invested on solar panels to atleast get 2000 watts of power once sun 🌞 is up

Its the best time to mine if you can sustain it. Money is made during the bear cycle not bull.

This is a bull market for miners and almost a bear market for traders.


I make the same cash value for my btc mined
I make more btc each day
Then I did when coin was 64k

That is not a bear.


Now If I was holding say 1 btc at 64 k it is worth only 34k that is bearish

you need to separate that.  So for me I am half bull /my mine and half bear my holdings

I cash all my

LTC
Doge
Eth that I mine

I hodl my BTC

so far it is working.  I hope this lasts till Jan or Feb 2022

Yes its true that in a bear market there are less people mining so the difficulty is lower however the price is also lower and most likely unless you got free power, you will be mining at a loss. So even though you can get more sats during a bear market, chances are you are just better off buying it directly rather than mining at a loss.

There are people who mined at a loss for entire 2018 and 2019 and they haven't sold anything until ETH reached ATH again and they made a killing pretty much. However most miners won't do that because they are more concerned with the short term profit rather the long term profits.

Exactly why I'm in for long term mining, I don't care if bear market happens right now as I'm running my rigs on free electricity/solar energy so I'm set for life, bear market do brings more quantities of the coin you mining but how far are you willing to hold till another bull market begins? It's not that easy

You trolls should get ready for the bear market, is very close, bear market is negative profit, 2 or more years paying to mine, reason I think before the bear market hits, sell all your gpus and stay in fiat then once everything crashes 99% then is time to buy coins, not gpus. Now is time to sell gpus or coins. Bitcoin will rise a bit, i guess to 79k, 79k was my long term price for this year anyway then crash below 10k and hit that legendary cme gap.

I am a proud person that did exactly this is 2018,we were mining with RX 470/480/570/580 and I insisted to keep mining even at a loss,we were paying 300 EUR electricity a month and making about 90-100 EUR at that time mining through Nicehash platform.Yes we did make a killing profit during February 2021-April 2021 and we have took our money that invested,some winnings and we even build a 10.000 EUR mining rig with 2021 GPU-s.What I want to say is that if you have the patience to hold,you will be rewarded immensely.I am planning to do that again,I withdraw what I still mine with those RX 4XX/5XX series and I keep what I mine with the new powerful rig.

"The difficulty of bitcoin changes every 2016 blocks, which is about 2 weeks"
https://en.bitcoin.it/wiki/Difficulty
This is a temporary profit for miners who have the ability to mine in other countries.
When other miners connect their hardware, we will see the reverse process.

It's metroid again 😓, the same guy that adviced many to sell their GPUs weeks ago, I'm not saying you are wrong but try to understand that many are aware of the risk involved, I've made back my ROI from GPU mining already and I'm willing to keep my GPUs and keep mining even in bear market, it's not always about money making its about hobby

It depends on how many of your are thinking a like as miners but yes, I would compare it to buying Bitcoin in the dip. It requires when one is planning  to to very patient and wait through out the bear market without selling off their sats cheaply.

This means one has to have extra money to spend on expenses such as power until when the bull run sets in

Mining on the bear market is useless, better to just buy coins, buying coins on the bull market is asking to be scammed 20 to 50 times, because that is how much you will lose when the bull market is done for and will soon be over, people thinking this will last a long time are being deceived like sheeps by wolves hehe, this profitability on mining never lasts a long time, take july 2016 to january 2018, may 2013 to November 2014 for example and check as far as it goes, that we can see 18 months to be exact. This bullrun started on july 2020, meaning plus 18 moths, we have till the end of this year at best then after this gameover.

I sold 80% when it was high, still have 20% to sell and I will not miss this opportunity this time, in 2018 I made a mistake of not selling my last 20% high then it crashed very fast and decided not to sell after that.

Metroid If Btc dropped to 16k I would still be okay.

Basically this time you sold the 80% too soon and held the 20% too long.

If I recall you sold the 80% at close to 2k

and held the 20% past the 4k top we had.

Btw why post here in mining ⛏ you say you trade more than you mine.

My guess,for miners is same as always mine on.

Sell some of the coins you mine.

I'm just pointing out that if you miss to sell high for this last time that is coming then all your mining efforts will be in vain because in the bear market any mining you have cant even keep your electricity bills. So make sure you sell now or while is high to cover your expenses in the bear market if you decide to keep on mining.

Mining in a bear market is profitable in the long term and depends on the cost of electricity, the author correctly said that the complexity is reduced and you can accumulate SATS until better times.

I pity new miners that follows metroid kinda advice, they are mostly misleading, the best time to accumulate as a miner is bear market, don't become a crypto miner if your electricity fees are too high and don't stop mining in bear market even when your profits isn't much, remember you are simply getting more quantities of the coins you mining than what you getting in bull market, the only difference is USD value

You think that someone will follow this advice. I don't see the point in selling old video cards as long as they pay off every 6-8 months. If the profit is negative, I will leave only the most energy-efficient video cards to mine, and what to do with the rest I will decide after analyzing the situation on the mining and video cards market.

I can't picture myself stop mining in years to come because I use solar panels for mining so I don't have to worry about electricity expenses, on the long term I believe that mining is still profitable if you hold your coins in bear market, people don't actually have the stomach for this that's why they sell equipments once bears take over and this makes mining difficulty goes down.

It's just the same as buying Bitcoin in the bear market and having to wait out until the bull market before you sell. I think it's a good strategy so long as you don't sell your sats in the bear market.

It only seems useless if you mine your Bitcoins and then sell them immediately at low price.

The same could be said about trading.

Selling old cards to get new cards works.

I sold all my 1080tis and got nvidia 3000 series for them.

sold the 1080tis at 400-600 but got in on the 5700 5600 and and some 3000 nvidia at retail.

I timed the turnover well.

Most miners are not investors. They need to pay for electricity and buy modern video cards, ASICs or other mining equipment, so they often cash out their coins as soon as possible in order to cover the costs. In a bear market, only those miners who have access to a cheap power outlet survive.

When the bulls are running, there are usually many new miners joining the mining pools to make additional profits, so the mining difficulty increases significantly. When the market turns around and the bears are running, miners compete fiercely with each other until the coin price and the mining difficulty reach a new balance.

I think most retail miners are this way. However most of the larger Chinese farms they usually hold their mined coins and if you look at those graphs that show when miners liquidate their coins its usually when the market is rising and never when the market is falling.

Its not smart to mine at a near breakeven and sell to pay for electrical and make almost nothing. You should just mine at a slight loss if you believe in the future of ETH or crypto and hold it. This is why many just stop mining then because they never think it will resume and go to ATH again.

I don't recommend this because is uncertain that said coin will have a bullrun again, I mean not only that coin, I mean all cryptocoins, so people should be very careful about holding, digital gov coins are coming and that may as well be the end of cryptocoins in general. I always say wait for coins to crash around 95 to 99% then you buy but that is a huge risk too as I'm betting at some point the market will go up again and then I will cashout later on, profiting from it, I have no idea if it will go up at some point, this mentality in crypto is widely dispersed but one day bitcoin will not grow further anymore or may even die, everything has its limits, my point is, do not hold everything in just one bag. Do not bet on crypto 100%, 20% to 40% is perfectly fine.

Mining at loss is also something I dont recommend too as is better to just buy the coin instead of mining and all have the hassle. Also, only the people who bought gpus at the beginning of this bullrun is winning, any further attempts on buying gpus with 3 to 5x the msrp will end in pain because bear market is really bad, the coin does not go up at all, easier to go 100% lower than 20% higher and even if it goes 20% higher then it goes back 20 to 50% lower later on. ETH is a good example, how many times we have seen eth crashing from 300 usd to 100 usd and vice versa? that happened 5 times from 2018 to 2020.

Also is not easy to time the market, I missed my opportunity to sell eth at 4k as I was betting it would go to 5k then I would sell. ETH may as well go back to 4k and then 5k but I dont believe it will hit higher than 7k this time. I will sell the eth I have left once it hits 5k, that is my target, eth 2.0 is a 5k coin, eth 1.0 is still a 100 usd coin in my view. So if bitcoin hits 79k then maximum eth would get is close to 0.08 btc and then crash back to 0.015 btc, will see, this bullrun is not over yet, bear acting like bulls have just one more chance to take btc up and then crash very hard later on.

Hi Metroid.
Lately i started learning this market stuff. and found very correct timing which no body told me before.
only you need follow this main charts : BTC dominance. BTC price. Total market cap of alt coins. weekly chart most correct chart that you can trust. Im telling you guys if BTC will not hold for 2 weeks at price 43-44k then dont wait any bullrun soon. Now it is playin between 38.5k-40.5k but it is not enough to trigger bullrun again.
So what main point. Follow BTC dominance if it is uptrend then it means it is good keep your coins in BTC. when dominance starts going downtrend it means it is time convert BTC into alt coins. Total market cap will go uptrend while BTC dominance starts go downtrend. This way you know that your altcoins did not reach ATH yet. Every time like clock after BTC ATH then ETH does ATH. my max waiting from eth 2.7-3.0k right now. i hope it gets there. if eth cant hold 2.2k then it means hello 1.7-1.8k again.

Yeah, right now btc went to 42k which means, 79k still a reality. What i think is, bears will try to take btc again for the last time to almost 100k but it will not get to 100k, instead they will crash it before 100k, 79k has been my target even before this bullrun started and then when idiots think btc will go to 100k these bears will crash btc back to 40k and then flash crash to 9.6k then btc will rise a little to 15 to 20k and stay there for the next 4 years or so.

Even though I'm 80% sure btc will go to 79k, I'm just betting 30% because in 2014 instead of going up it went down, so this could also be a trap and the top was already found at 64k but usually tops end on 9, need to be very careful here because these bears are not bulls and they want to steal the money of idiots one last time.