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Down the road into a bear market what can a new miner except from a 500MH mining farm? How incredibly bad can this get? 5$? 8$? Asking those who are here before in 2018 so I can know what's awaiting me.

One good practice is not to sell coins you have mined during a bear market, instead wait for the bull market and rip big.

Down the road into a bear market what can a new miner except from a 500MH mining farm? How incredibly bad can this get? 5$? 8$? Asking those who are here before in 2018 so I can know what's awaiting me.

No one will tell you how bad it can go and most important how long? It is better not look how bad it is  ;D just keep walking doing other jobs for couple of months.

With 2018 and Ethereum mining I remember making exactly $0.00 per day with my 470 GPUs with like 8-10 cent power

If you had RX 470 cards you were stuck with ETH, but GeForce cards could mine coins that were much more profitable like GRIN or RVN. In early 2019 I remember getting $0.70/day of GRIN revenue, paying $0.25 for power, and pocketing $0.45 of profit on each of my GTX 1060 6GB video cards. That rig made a killing eventually.

This is why I prefer NGreedia over AMD: they are still better at alternative coins than Radeon. They have better gaming brand value. I will buy Radeon cards if I can get them at a good discount, but I stick to the RTX 3060/3060 Ti series in particular.

Let's assume one mined during the 2019-2020 bear market with a GTX 1060 6G rig which they bought for $170 per card ($130 each for the actual GPUs). At 9¢ power, the ROI would've been 20-40% per year. When the bull market returned, not only did their rig double in value, but the rig made a 300%+ ROI in 2021. The total ROI from 2019-2021 was 500% or so. So buying video cards cheaply seems to be very important.

Down the road into a bear market what can a new miner except from a 500MH mining farm? How incredibly bad can this get? 5$? 8$? Asking those who are here before in 2018 so I can know what's awaiting me.

Why are you calling Nvidia NGreedia? If what you are referring to is Nvidia been greedy then why is the company still your favourite? Lol 😆, I like the idea of buying graphic cards at the cheapest rate but it's all for the long term haul, you have that spirit in you that's why you are able to see things this way, those who rushed to build rigs cares about the present returns.

The biggest issue I heard about people who ended up losing money with mining is usually because they borrowed money to buy the gear.

Either by credit card or someone lent them the money. They also overpaid for their gear. Then when bear market came they were pretty much losing money with the interest rate they had to pay on the loan.

So like any business there is always some degree of risk.

The biggest issue I heard about people who ended up losing money with mining is usually because they borrowed money to buy the gear.

Either by credit card or someone lent them the money. They also overpaid for their gear. Then when bear market came they were pretty much losing money with the interest rate they had to pay on the loan.

So like any business there is always some degree of risk.

The biggest issue I heard about people who ended up losing money with mining is usually because they borrowed money to buy the gear.

Either by credit card or someone lent them the money. They also overpaid for their gear. Then when bear market came they were pretty much losing money with the interest rate they had to pay on the loan.

So like any business there is always some degree of risk.

IMO a bear market is the best time to mine if you own the equipment outright and can afford to pay your electricity bill without selling for fiat.  This is especially true if you paid retail or lower for your gear.  Oddly enough it seems like values have appreciated compared to pricing pre-chinese tariff.

You are right but the reason why a bear market is a good time to start mining is low mining difficulty, if no miners are leaving the network it will make no sense, look at the situation right now, we are in bear market but not as dip as that of 2018 where people are switching of their rigs, mining difficulty is still very high still.

so we simply are not a bear mining market

I would argue you won't see any hash drop unless 10 cent miners are losers as that knocks out home mining in a lot of spots. { edit sp knocks }

I think we will see a lot more capitulation than late 2018 if/when ETH goes to PoS. At least in 2018, it was a lot slower. But PoS will be like the revenue dropping by 95% overnight. It will be so bad that even miners with 3 cent power will be unprofitable. That's when the real selloff would start. I wouldn't be surprised if RTX 3090's will cost just $500!

No matter how much truth you tell them, they will never learn unless they go through the process, 3090's could go for even less than 500 usd, very few people mine at loss, most will sell and will not have demand to keep gpus at msrp, bear market is the opposite of bull market, in bull market, coin is king, in bear market, fiat is king and will take time for things get back to normal again, this is still pre bear market because manipulators want to trap more people yet close to top.

........

destruction then prosperity and so on and you can win big both ways, playing both sides.

this overpriced cards (hefty profits) is addicting to them, see that intel has joined the club. they will create/plan something to keep this "economy" alive.

Smart miners have a plan to make profit because they have saved up acorns during the good times, which they can spend soon to buy a boatload of equipment for cheap. They have enough fiat saved up to pay the power bill during the coming hard times. They never paid over MSRP for the equipment and started paying off all loans when the price lost momentum in June 2021.

Dumb miners bought all their GPUs on credit (or leveraged their ASICs). They paid above MSRP for the equipment in the middle of the bull market rather than the beginning. They didn't sell any coin during the bull market, or worse, they levered the coins to buy even more equipment at inflated prices. Now they have no cash reserve to fall back on when profit goes to zero. The only way they can pay even half of the credit cards is to liquidate everything.

It would take years for a new GPU PoW coin to reach the same market cap as ETH, even if these manufacturers got lucky and somehow launched a currency that users/investors had confidence in. So this is a long-term play, not something that can prop up the mining market now.

Wonder how 2022 will be. If it goes POS then I am pretty sure it will be an instant capitulation for every miner.

If there's a recession at the end of this year in the U.S., along with ETH PoS, that will create the perfect storm. The capitulation phase would be a lot quicker than late 2018. Merge block number announced, then everything goes to 'hehell'. In a matter of days, video card prices crash from +10% MSRP to -30% MSRP. They eventually end up at half of MSRP. AMD cards suffer more because they are more tied to mining. where RTX 3090 prices could dive as low as $400.

No GPU coin will be profitable even at 2 cent power for a while. When the panic phase is over, I think we will see similar profit levels to early 2019. Certain video cards like the RTX 3000's might have a 3-4 year payback time, while others are 10 years. The market will remain in that limbo state until/if another GPU PoW coin goes big. You'll still be able to make a 30% or so return per year if power costs 8 cents.

Do you seriously think that someone can create a coin that can use at least half of the Ethereum hashrate and it will be profitable for mining?
An ethereum fork will not solve this problem and ethereum classic already exists.

Do you seriously think that someone can create a coin that can use at least half of the Ethereum hashrate and it will be profitable for mining?

No GPU coin will be profitable even at 2 cent power for a while

No matter how much truth you tell them, they will never learn unless they go through the process, 3090's could go for even less than 500 usd, very few people mine at loss, most will sell and will not have demand to keep gpus at msrp, bear market is the opposite of bull market, in bull market, coin is king, in bear market, fiat is king and will take time for things get back to normal again, this is still pre bear market because manipulators want to trap more people yet close to top.

I don’t think it’s possible for their to be an Ethereum classic classic fork. It’s mostly due to the difficulty bomb.

The way you think is out of this world and yea you are always on point, I am glad I knew what I was heading for when I built my mining rigs, I don't have any intention of selling even if a 60MH turn 0.2$, what I lost is dollar value and I will keep mining and holding till another bull season gets here, my 100$ after few months of mining can turn 2000$ again.

They will make an eth fork and preserve pow on that fork, I wonder how long that will work, price will be at lowest.

Well the reason why ETC worked is because the difficulty bomb wasn’t anywhere close. So that’s why the old chain could of survived by a single miner since unlike BTC the retarget difficulty is much quicker.

If some people decide to mine the old ETH chain then there will be no point because it’ll basically hit the difficulty bomb shortly after and the chain will be unusable. This was the point of the difficulty bomb pretty much.

So nobody will buy the new token because they know that’s the chain will eventually stop unless some dev takes over and removes the difficulty bomb like ETC did.

But this does not solve the performance problems of other projects and smart contracts. Even if the developers turn off the difficulty bomb in the new fork, this exchange coin will not be listed for trading and the miners will not work at a loss.

The only possible outcomes of PoS are PoS wins, PoW loses or PoS loses, PoW loses. There is no scenario where PoW wins.

Forked or not, the bottom line will be that Vitalik & Co.'s PoS chain will retain the vast majority of its market cap. The PoW chain will be almost worthless, like $50 per Ether if we're lucky. Best case, it becomes like the ETC fork back in 2016 or BCH in 2017.

But regardless, 90%+ of the total block reward available to GPU miners will vanish overnight, and no rig will be profitable except at free power. Even if the PoS chain ran into a major bug and they want to go back to PoW, that would still destroy confidence in ETH, meaning mining profit would crash by 90% anyway.

The only possible outcomes of PoS are PoS wins, PoW loses or PoS loses, PoW loses. There is no scenario where PoW wins.

Right now Ethereum Classic is holding very well in the profitability for the same hash rate as the ETH as ETC just gives you a couple of dollars less.

I think since the beginning of mining PoW has always worked and has always been the winner in mining,I think this is not going to change even if Ethereum goes PoS,it will be a loss for Ethereum and not for the miners and PoW algorithm.I think Ethereum Classic has the capacity to accommodate the miners for the short term span until a new coin like Ethereum comes out.I believe in the win of miners so Ethereum and the people following it after moving to PoS will be the only losers.

Miners will look for other coins, but they will not be happy with the profit.

Forked or not, the bottom line will be that Vitalik & Co.'s PoS chain will retain the vast majority of its market cap. The PoW chain will be almost worthless, like $50 per Ether if we're lucky. Best case, it becomes like the ETC fork back in 2016 or BCH in 2017.

But regardless, 90%+ of the total block reward available to GPU miners will vanish overnight, and no rig will be profitable except at free power. Even if the PoS chain ran into a major bug and they want to go back to PoW, that would still destroy confidence in ETH, meaning mining profit would crash by 90% anyway.

The only possible outcomes of PoS are PoS wins, PoW loses or PoS loses, PoW loses. There is no scenario where PoW wins.

Intel want pow and that is a very wealthy group of companies.
Nvidia market cap is 468 billion
Intel Market cap is 177 billion
Amd market cap is 172 billion

Their main customers are datacenters. That's where they can make the highest profit margin. Miners only care about the price and they're an unreliable customer. Gamers are reliable customers who have brand loyalty, but only for 2-3 years instead of 10 years like the server customers, plus they're price sensitive too. 80% of the market cap of these silicon companies comes from their server customer base, not miners or gamers. Intel probably views mining as a nice side market to diversify their base, but not their focus by any means. Neeeveeeeediaaaa is migrating away from their GeForce gaming customer base toward the datacenter market, too.

The only company here that stands to lose from ETH PoS is AMD, because the Radeon brand isn't as popular for gaming and they have good hashrate. But I don't think they have any secret plan to save GPU mining. I need to see it before I'll believe it.

Their main customers are datacenters. That's where they can make the highest profit margin. Miners only care about the price and they're an unreliable customer. Gamers are reliable customers who have brand loyalty, but only for 2-3 years instead of 10 years like the server customers, plus they're price sensitive too. 80% of the market cap of these silicon companies comes from their server customer base, not miners or gamers. Intel probably views mining as a nice side market to diversify their base, but not their focus by any means. Neeeveeeeediaaaa is migrating away from their GeForce gaming customer base toward the datacenter market, too.

The only company here that stands to lose from ETH PoS is AMD, because the Radeon brand isn't as popular for gaming and they have good hashrate. But I don't think they have any secret plan to save GPU mining. I need to see it before I'll believe it.

Then why LHR?, (algo and price manipulation)

Saving gpu mining is not a business model..owning gpu mining is a business model.

My projection is still very far but it can now be projected, so there is a possibility.

The GPU sold out, price increase and limit per customer happened. --> this cannot be called small time or nothing.

Even a pump and dump during a new series release is a good business move.

The release of LHR video cards helped sellers avoid warranty risks. Nvidia sold mining video cards with a maximum warranty of 6 months but I have seen 3 months or less.
When the buyer was ready to buy any video card, LHR models appeared. When the buyer began to choose AMD, hackers appeared who hacked LHR. That's a coincidence.

Not anymore if/when ETH were to go PoS. Millions of video cards will be flocking to the remaining 5% of the available GPU revenue. Profitability of ETC, FLUX, ERG, etc. will be near zero for weeks or months. ETC will be strictly an ASIC coin anyway. So we'll actually be left with 2% of the revenue.

I was talking about Ethereum specifically. Of course I believe PoW on GPUs will win in the long run, but when it comes to ETH, we shouldn't celebrate/wish for a failure of PoS, because that would hurt confidence in the coin as a whole, therefore mining profit would go to zero on ETH even if it reverted to PoW.

This is exactly what will happen. There will be no profit on the other GPU coins until enough miners capitulate and sell their rigs. Once hashrate comes down, profit will improve.

Well 2 cents for eth per mh works for me, but do we bail in Sept and do pos or do we delay till dec-feb?

place your bets.

Right now, under the worst possible outcome, ETH PoS is still roll out but delay for a few months than the initial estimate of ETH foundation that the merge will be in Aug/Sep. So at least, miners need to planing accordingly to that: stop buying/building new rigs, start slowly reducing the numbers of your mining rigs and change it to ETH so you have a stake in the new PoS system.

I advise you to look at the telegram channels of miners where they sell video cards. There are a lot of offers to sell video cards at low prices. Therefore, now it is very difficult to profitably sell a mining farm. You can sell video cards separately, but this is very long.

I have a feeling that this week when we check eBay, Craigslist, Facebook marketplace we are going to see a large supply of GPUs hitting the market.

With POS approaching closely and ETH taking a huge hit and trading under the 2017 ATH I think many people are going to call it quits earlier to get the most out of their GPUs.

Happens every time whenever a bear market just becomes an even bigger bear market.

I have a feeling that this week when we check eBay, Craigslist, Facebook marketplace we are going to see a large supply of GPUs hitting the market.

With POS approaching closely and ETH taking a huge hit and trading under the 2017 ATH I think many people are going to call it quits earlier to get the most out of their GPUs.

Happens every time whenever a bear market just becomes an even bigger bear market.

stETH seem to be another Luna..

Which fake USD will crash next?

USDN, USDD and FEI is looking weak

Prices of 2nd hand 3080's are starting to get better hehehe..hell  ;D

"MicroStrategy’s Michael Saylor Wanted People to Mortgage Their Houses and “Buy Bitcoin,” but the Company Itself Is Now About To Face a Margin Call".

Look at this, https://wccftech.com/microstrategy-michael-saylor-wanted-people-to-mortgage-their-houses-and-buy-bitcoin-but-the-company-itself-is-now-about-to-face-a-margin-call/

"As we’ve noted a number of times in our posts, a typical bear market for Bitcoin sees its price crash around 80 percent relative to the preceding all-time high. It is for this reason that we expect Bitcoin to bottom somewhere between $15,000 and $20,000, provided that the trough coincides with a flush in the S&P 500 index towards the $3,400 price level. Given the existing correlation regime between US equities and Bitcoin, one can’t bottom without the other."

That Michael Saylor was always a scammer and a troll, anyway this is not bear market yet.

I guess those bitcoins he bought for 40k,50k,60k and 65k will have to sell them for 20k and lower hehe. That is how it works, they have not sold around 60k but trust me they will sell for 20k or lower hehe

Tron will soon be in trouble too https://www.coindesk.com/markets/2022/06/13/trons-stablecoin-peg-to-dollar-wobbles-justin-sun-swears-to-deploy-2b-to-prop-up/ , all scamcoins.

Celsius was another scam 7 usd last year and now 20 cents https://www.theverge.com/2022/6/13/23165611/bitcoin-ethereum-crypto-price-drop-celsius

Solana another scam, https://u.today/solana-downtime-series-continues-network-faces-serious-issues-again

Interesting things happen when bear market is upon us then you see the meaning behind scamcoins, most devs of those scamcoins are running away with the money forever hehe

Down the road into a bear market what can a new miner except from a 500MH mining farm? How incredibly bad can this get? 5$? 8$? Asking those who are here before in 2018 so I can know what's awaiting me.

I had an order to buy some BTC back at the 200 WMA, I think it was something like $22222. First I assumed it was the bottom but it clearly is approaching $20K very fast.

With the way that ETH went straight thru it’s old ATH I have a feeling that Bitcoin might also. Seems there are no buyers at all. Crazy that it was over $30K just a few days ago.

Wonder what Wednesday will bring with the fed news.

Pretty much hurt, that's what's coming.  I mean profitability is going to just plummet, the choice is to sell or hold on for the next run because you won't be able to run your hardware at any kind of profit in a bear.  But when things turn everyone flocks back to hardware.  Happened in every run.  This should he no different.  But be forewarned you will be tested during this bear for sure.  Good luck

Difficulty is going down with 1 P from 15 P to 14 P in Ethereum mining and I can make more Ethereum daily then I used to 2 days ago.I expect another massive difficulty reduction and I expect that the people who will win are those who will hodl in the middle of the bear market.I agree that bear market is a blessing for miners who want to become long term hodlers.I mined at a loss at 2018 and made a good amount of Bitcoin which in 2021 more specifically in February turned to 50.000 USD/40.000 EUR so I will still mine at a loss and keep the coins for the next bull run which I predict will be no further than 1-2 years from now.

Down the road into a bear market what can a new miner except from a 500MH mining farm? How incredibly bad can this get? 5$? 8$? Asking those who are here before in 2018 so I can know what's awaiting me.

https://www.coindesk.com/business/2022/06/14/coinbase-will-layoff-around-1100-employees/

Most trolls have no idea how bad this will get till they see how insane a bear market crash bottom is. I have seen this many times since 2011, imagine seeing eth crashing from 900 to 80 usd in few days

I applied to a job opening at Coinbase, so thank god I got rejected... ehheehee

Down the road into a bear market what can a new miner except from a 500MH mining farm? How incredibly bad can this get? 5$? 8$? Asking those who are here before in 2018 so I can know what's awaiting me.

I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTIONS " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ? WHY MY EARNING IS LESS THAN ALL THOSE ONLINE CALCULATORS TELLING ME? WHAT IS THE BEST COIN TO MINE ? WHAT IS THE MOST PROFITABLE COIN TO MINE"

No one can tell you !
Always going to be a 2 group of ppl who telling you it's ok go for it , or don't bc you just wasting your money and time !
You have to make a decision for yourself !
Do your own research !
No one can tell you for sure what's going to happen with cryptocurrency !
No one can tell you it's going to be profitable for you or not !
No one can tell you how much profit you going to be able to make ! ( if you can make any at all )
No one can tell you the ROI ( return of investment) time !
No one can tell you what is the best coin to mine !
No one can tell you what is the most profitable coin to mine! Coins profitability always changing, what is best to mine today, maybe going to be the worst to mine tomorrow !
None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later !
Those calculators telling you about today , at that moment when you typing in your information !
None of those online calculators calculating pool luck !
None of those online calculators calculating your stale/rejected or invalid shares !
None of those online calculators able to predict difficulty growth !
None of those online calculators can predict what would be the coin/$ exchanges rates a minutes later, a hour later,  tomorrow, next week,  months later, 6 months later or a year later !
It's little bit of gambling , you must to decide you want to play on the lottery or not  ;D
YES some of us got lucky , made some money with mining
YES some of us got unlucky , lost some money , bc when price started to fall , sold they coins , miners...

! INVEST ONLY WHAT YOU'RE WILLING AND ABLE TO LOSE !
! INVEST WITH THE UNDERSTANDING , THAT YOU COULD LOSE EVERYTHING !

Posted this topic almost 3.5 years ago... There is the brand new, 2021 updated version ;)

There is the Original Link for my topic from 2017 HERE (https://bitcointalk.org/index.php?topic=2208927)

The same thing happening now what happened in (2016) 2017, ppl got crazy about mining, investing money into GPU's, ASIC's, hoping a big profit in a short time, GPU's, ASIC's price are crazy high, but really no one know what's coming in the future.

Lot of us know what happened in 2018 (https://cointelegraph.com/news/overview-of-the-crypto-mining-industry-in-2018-will-the-struggles-extend-to-2019), some of us was able to make a great profit with mining ( mostly those guys who started mining before crazy GPU prices ), and some of the unlucky ones come back to this forum and cried for they Money, said just bad things about mining ( mostly those guys who paid 3x, 4x, 5x price over a RX480/580 MSRP ( manufacturer's suggested retail price ).

Before you jumping into mining please do your own research, especially about ETH mining, check the roadmap for ETH development (https://www.etoro.com/news-and-analysis/crypto/exploring-ethereums-development-roadmap/), make sure you know more than what mining calculators telling you. Learn about ETH2 (https://ethereum.org/en/eth2/) , EIP 1559 (https://www.reddit.com/r/ethereum/comments/lk1rjp/this_is_why_eip_1559_is_good_and_why_vitalik/) , Mining Reward Reduction (https://en.cryptonomist.ch/2020/04/30/halving-of-ethereum/) ... and if you are living in  the USA , make sure you know what this IRS letters are about : Letter 6163 (https://www.irs.gov/pub/notices/letter_6173.pdf) , 6174 (https://www.irs.gov/pub/notices/letter_6174.pdf) and 6174-A (https://www.irs.gov/pub/notices/letter_6174-a.pdf) also ... Its a good thing to know about Tax Consequences (https://www.irs.gov/businesses/small-businesses-self-employed/virtual-currencies)
The big brother is watching you, and not just in the USA.





Watch out for newbies who promising "save on dev fee" kind of miner programs hacks , and you just need to download a file to your computer , then run the .exe file ...
IF NO SOURCE CODE , NOT OPEN SOURCE PROJECT,  FORGET ABOPUT THOSE JUNKS
NEVER RUN ANY .EXE FILE ,OR IF YOU DO USE WIRESHARK OR SOMETHING SIMILLAR TO ANALYZE what your freshly installed junk doing on your network .

if you running something like this on a pc , where you keep important information about your wallet , don't be surprised if all of your hard mined coin going to disappear .
...or your valid shares decline , bc your miner going to mine for somebody else !

Coin price up its mean scammers targeting miners, especially newbies with a promise to save on dev fee .

Dont be fooled when newbie account holder creating a .exe file , promising you can save lets say on dev fee, and another newbie keep saying how perfect is that new .exe file, what another newbie just created !
Dont be fooled when the creator make his source code public, its can be totally fake , you need to Decompiling the code , and see whats in the .exe file ! or compile the file yourself from the source code , if you want to stay on the safe side !

Anyway, btc is 18.5k at moment and it seems 10k is closer than ever. I wonder when catching the falling knife will not hurt me, maybe below 10k, 9600 usd will hit that cme gap that was probably never filled in 2020.

I remember how other users mocked you when you suggested a $10k bottom. I didn't believe it as well. But so far, Metroid has been correct ehhe.

good luck to the glass is half empty people
good luck to the glass is half full people.

17.5k was not extreme, so i'm sure is not the bottom yet, the bottom is something extreme that nobody believes, for example like when btc crashed from 20k to 3k, right now to be as extreme as 20 to 3k, btc would have to crash to around 9k to 11k, that would be extreme. So reason i dont believe this is the bottom, it was too fast as well, the bottom takes time to be found.

About eth, eth still at 0.05 to btc, so is overvalued at the moment, eth to btc ratio in the crash is usually 0.03 and lower, so meaning if btc crashes to 10k eth will have to crash to 333 usd. This eth ratio will crash as we go from here, dont be surprised to see eth to btc crashing in the coming months and then we see the bottom, I mean in 2018 when btc crashed to 3k, eth to btc got as low as 0.015, so just for the sake of math, if btc crashes to 10k and that eth ratio is at 0.015 then that means eth at 150 usd, for refence always look what happened in 2018 November, will it happen that way again? we never know, if you dont believe this will crash more, you can always buy now, even if crashes a lot more no worries just keep your coins safe and hope for a better opportunity to sell high in few years.

17.5k was not extreme, so i'm sure is not the bottom yet, the bottom is something extreme that nobody believes, for example like when btc crashed from 20k to 3k, right now to be as extreme as 20 to 3k, btc would have to crash to around 9k to 11k, that would be extreme. So reason i dont believe this is the bottom, it was too fast as well, the bottom takes time to be found.

About eth, eth still at 0.05 to btc, so is overvalued at the moment, eth to btc ratio in the crash is usually 0.03 and lower, so meaning if btc crashes to 10k eth will have to crash to 333 usd. This eth ratio will crash as we go from here, dont be surprised to see eth to btc crashing in the coming months and then we see the bottom, I mean in 2018 when btc crashed to 3k, eth to btc got as low as 0.015, so just for the sake of math, if btc crashes to 10k and that eth ratio is at 0.015 then that means eth at 150 usd, for refence always look what happened in 2018 November, will it happen that way again? we never know, if you dont believe this will crash more, you can always buy now, even if crashes a lot more no worries just keep your coins safe and hope for a better opportunity to sell high in few years.

9k to 11k extreme...we call it 10k for now, that 10k would be a dream purchase if BTC is at 100k, the 10x mentality would be kicking again hehe. will go past 100k -200k then bottoms at around 30-40k next cycle.

if you don't want to risk not getting that bottom.. around 14k is a good entry too or around the price where saylor capitulates hehe.

Below 10K for BTC is the time to start investing if you want to target the next bull cycle down the road in a couple years or more.

Doge is already at the Buy price since it went below 10cents and really getting worthwhile @ 5cents and below if you want to accumulate as well for the next cycle.

Doge is a POW coin. Perhaps priced too high, but not a dead project.. Guessing the future proce is difficult, but both btc and ethereum are oversold at the moment. If you time it right you can get an easy +50% in a few weeks.

Yeah, btc below 10k or around 10k is not bad, dogecoin to be acceptable as it contains high risk compared to btc, it needs to crash down to $0.001 or lower then I might purchase 5% of my money in it, that was its price before elon musk hyped it and sheeps started buying it. Anybody buying doge scamcoin for $0.05 right now deserves to be scammed.

10k might not be possible.. 20k and 30k is a sure reclaim..that is 2x and 3x money(spot), there is also leverage (just low enough to not get liquidated). that is an easy money, can bet big and win big.

we are not in 2013 anymore where some people are not sure if there are millionaires and billionaires in crypto...can be hit if saylor gets liquidated LOL  ;D

There is a lot of time yet for this to crash to hehell, from september 2022 to march 2023 we will know the bottom, it still too early to know the bottom, in this market you have to have lots of patience if you want to profit, buy too fast or sell too fast is not good.

Just want to put this here for the record, the value(purchasing power) of 10k in 2018-19 and the value of 10k in 2022-23 are different.

Yeah it's a pow coin that even the main dev sold his 100% stake just to get rid of the failure coin and then comes somebody hype it and now everything is okay and is not a failure? ehhe, thankgod I never invested in it.

Bear market = low hashing difficulty = best time to mine and/or buy PC hardware

Few people understand this...

Below 10K for BTC is the time to start investing if you want to target the next bull cycle down the road in a couple years or more.

We do agree on one thing. POS = Piece Of Shit..
In the last month the price of ethereum has fallen -70%. With POS ethereum would be 70% less secure, but with POW the hashrate is almost the same. POW is using alot of energy, but prevents rich countries like China, Russia, Usa to enforce a killswitch in the network.. With the currently suggested Ethereum POS model they only need to buy 8% of the supply and replace the butterin code with the silent army code..

17.5k was not extreme, so i'm sure is not the bottom yet, the bottom is something extreme that nobody believes, for example like when btc crashed from 20k to 3k, right now to be as extreme as 20 to 3k, btc would have to crash to around 9k to 11k, that would be extreme. So reason i dont believe this is the bottom, it was too fast as well, the bottom takes time to be found.

About eth, eth still at 0.05 to btc, so is overvalued at the moment, eth to btc ratio in the crash is usually 0.03 and lower, so meaning if btc crashes to 10k eth will have to crash to 333 usd. This eth ratio will crash as we go from here, dont be surprised to see eth to btc crashing in the coming months and then we see the bottom, I mean in 2018 when btc crashed to 3k, eth to btc got as low as 0.015, so just for the sake of math, if btc crashes to 10k and that eth ratio is at 0.015 then that means eth at 150 usd, for refence always look what happened in 2018 November, will it happen that way again? we never know, if you dont believe this will crash more, you can always buy now, even if crashes a lot more no worries just keep your coins safe and hope for a better opportunity to sell high in few years.

We do agree on one thing. POS = Piece Of Shit..
In the last month the price of ethereum has fallen -70%. With POS ethereum would be 70% less secure, but with POW the hashrate is almost the same. POW is using alot of energy, but prevents rich countries like China, Russia, Usa to enforce a killswitch in the network.. With the currently suggested Ethereum POS model they only need to buy 8% of the supply and replace the butterin code with the silent army code..

Ethereum supply = 6 x Bitcoin supply.

1 / 6 = 0.16

Ultimately I feel like Ethereum should be 0.16 of Bitcoin, and potentially a higher ratio because of Ethereum's influence on the crypto space compared to Bitcoin and the fact that it might become deflationary after the Merge. So in my mind Ethereum is undervalued, not overvalued.

You have to remember as more ETH staking occurs it provides more stability in a crash. When Ethereum is locked up in staking it reduces panic selling. So forget about old trends. Bitcoin has been losing market share to altcoins in this crash. And one reason for that is staking.

https://bitcoinist.com/ethereum-supply-staking-contract-10-milestone/

Around 12 Million ETH Is Now In The Ethereum 2.0 Deposit Contract

As pointed out by an analyst in a CryptoQuant post, the ETH staking rate has observed further surge recently, taking the metric’s value to 10% of the total supply.

In case anyone’s not aware of what “staking” is, it’s best to take a look at the “proof of stake” (PoS) consensus system first.

In cryptocurrencies using the PoS framework, network validators (called the stakers) need to lock in a minimum amount of the crypto into a contract (32 ETH in case of Ethereum) to participate in the consensus system.

The network then randomly chooses one of the stakers to sign the next transaction (stakers with the higher staked amount have a better chance of being chosen).

Almost everything you said is true but pay attention, those locked eth will be unlocked and when once they are mass panic to sell as fast as possible will happen and that is when eth will crash a lot, possible prior the next bullrun, who knows but it will happen, yeah it could be good now because people feel safe those locked eth cant be sold but that is a double edged sword. It's not only eth, exchanges are manipulating everything to avoid a huge crash and that is not good for the market as a whole. It might be good for now but the trust is being broken, long term of what they are doing will be nasty.

About those 32 eth, eth scammer dev team came up with this 32 eth to be staked number, know what that means? even eth dev scam team already set eth price to btc and that is 32 eth, that is right, 32 eth = 1 btc, has always been and that is what they are planning to do long term and trying to hold that line but we know as eth supply is infinite and btc is not then will come a time where eth will depeg from those 32 eth = 1 btc and will crash meaning, 33 eth = btc then after a while, 34 eth = 1 btc and so on and that cant be prevented or avoided.

What's your source for the 32 ETH = 1 BTC price? That makes no sense at all. Initially they set a number of 500 ETH per validator. That was then lowered to 32 ETH because 500 ETH was too steep. Some people think even 32 ETH per validator is too steep. It had nothing to do with 1 BTC.

Of course now many people have been staking in pools with Coinbase,  Blockfi and unfortunately Celsius. We'll have to see what happens there.

Don't you think staked ETH would be unlocked gradually in case of a sell off? If interest rates rise after the merge why would you un-stake? And why selloff ETH to then incur a capital gains tax? Don't you think ETH stakers are long term investors as opposed to day traders?

Here’s why staking 32 ETH isn’t an easy proposition

https://eng.ambcrypto.com/eth-2-0-staking-proposition/

Below 10K for BTC is the time to start investing if you want to target the next bull cycle down the road in a couple years or more.

Doge is already at the Buy price since it went below 10cents and really getting worthwhile @ 5cents and below if you want to accumulate as well for the next cycle.

Yes, sub $10k BTC is the time to buy I think we have a few more months to get there, perhaps end of 22 early 23.

IMHO Doge is still sky high at 10 cents, or even 5 cents, better to wait until closer to 1 cent or even under.

And to the OP, just because you have mining rigs does not mean you need to use them. As a long time miner I have in previous bear markers shut down my rigs and just bought coins directly with the money I would have sent off to my power company. If the cost of mining coins is more than you can pay for them directly, do not feel you *must* mine.

After we enter recession in full, somewhere after this winter we are probably hitting 4-7K again.
Asic miners will be cheaper then ever and GPU mining long gone this time, if that will be a thing again remain to see, I do not expect to see so big price jump to use GPU on any coins currently on the market.

 

GPU mining will not go anywhere, there are always new coins to shift your hashrate into with the hardware but profitability will vary with time. Might now be as profitable as it was this cycle again ever again though.

New hardware is always be more efficient and markets get saturated with new entrants and it will squeeze out all those who can't afford it. Driving costs up & profitability down.
It will reach equilibrium with time but it wall also mean only hobbyists are into it or full scale industrialists.

There will not be room for small ventures much longer unless you have other incomes to subsidize your mining costs with electricity etc from elsewhere.

Safer bet would be to invest in BTC after next big dip sub $10K

How is that not a gamble too? At least with video cards, the investment can only lose half of it's value.

snip

There are a lot of video cards in mining, so even manufacturers are postponing the sale of new models, because the secondary market is crowded. For video cards to be in demand, a new coin is needed, and there are no such coins yet. Ethereum mining will end and the price of other coins may fall in a bear market, then mining on video cards will be boring.

Yeah it’ll be 2015 all over again. GPU mining was so boring and unprofitable that i switched to Bitcoin ASICs because there was profits there while with GPUs there wasn’t.

There were more POW coins then, much more than today. However the miner supply and the low market cap made them a waste of time to mine prettt much. Dash was probably #1 POW coin then, however the profits weren’t that great.

Same will happen now most likely.

In 2015, asics did not have a consumption of 3 kilowatts, and they could be used at home. I even remember silent models.
But modern asics consume a lot and are noisy. They are not suitable for most miners.

3kw miner is just about right for 1 20A breaker with 1 outlet..home "minimal" miner will just manage 1 equipment.

Until the neighbors complain about the noise... :)

LOL, yeah, fuck them..apartment(large room type) maybe..but for houses that does not share a wall or walls, i think it is good enough.

a storage room or basement will make it quiet enough for a home occupant, unless it is almost as loud as a hammer drill, drilling through cement then yeah it is noisy.

Down the road into a bear market what can a new miner except from a 500MH mining farm? How incredibly bad can this get? 5$? 8$? Asking those who are here before in 2018 so I can know what's awaiting me.

Lol if you are asking if crypto can straight slap ypu in the face it can ha!  Seriously there is no telling how bad prices and/or profitability of mining will get.  In 2015 it was straight brutal but those who stuck it out got paid nicely, same with other cycles.  Will this one be the same...maybe?  Honest answer is don't expect profits and just be gladly surprised if you do profit.  Have fun with it and be part of history.  Who knows..

It was just reported today that Elon Musk sold 75% of his btc, I guess he knows something we don't ehhe

I remember in 2015 being so bored with mining that I decided to mod all my Bitcoin ASICs at the time. Back then there was little profit in GPUs most people just mined BTC with ASICs.

I had Antminer S3 that I made very quiet, enough to keep in an office.
A loud Antminer S4 where I modded the voltage and made it as efficient as an Antminer S5.
An S5 which I spend probably $50 on some very expensive (forgot the brand) high flow/quiet case fans to make it bareable to sleep in the same room.

Another s5 where I took an actual car muffler and tried to make it quiet. It was quieter however was just too bulky.

Those were the fun days.

It was just reported today that Elon Musk sold 75% of his btc, I guess he knows something we don't ehhe

Who knows? Maybe he hired people to do an investigation after the Luna collapse. And his advisors told him to sell because due Luna and UST going to 0 pretty much it'll set off a huge liquidation cascade which is pretty much what happened afterwards.

He did state that he might rebuy in the future and he also didn't sell his entire position so he might not be out of crypto completely. Or is was a decision by his board that he needs to protect Tesla's cash incase there is a big recession coming up.

No one knows something that others don't especially in the Bitcoin price which cannot be manipulated that easy as someone can EUR or USD money.That is one of the strongest points of Bitcoin as the new form of money,having decentralization as its key point.I don't think we care much what Elon Musk does or does not since that eventful May 2021 which he caused a massive crash to Bitcoin because everyone was amazed as to what he was doing with Bitcoin and how he was embracing it before such a turn off event.For the moment the price of Bitcoin and Ethereum are still holding where they were even with such 75% of Musk sale of Bitcoin so I don't think we should worry that much.