Bitcoin Forum

Bitcoin => Mining speculation => Topic started by: Simvolickk on June 26, 2018, 12:00:19 PM

Title: Mining bitcoin
Post by: Simvolickk on June 26, 2018, 12:00:19 PM
Guys, I have b8 which are mining bitcoin and for me, the electricity is more expensive than the reward I get, should I stick to b8s or sell them to buy GPUs for mining?

Title: Re: Mining bircoin
Post by: Steamtyme on June 26, 2018, 01:25:47 PM
First it would be best to place this in the mining speculation ( thread.

Now to your question, it depends on what you think will happen with BTC, the DIFF will keep rising; ideally not as fast as it has but the upward trend is likely to continue.

How much of a loss on electricity can you afford? If you think the price will rise again in the future you can always mine at a loss for as long as you feel comfortable and hope to reap the rewards in the future.

If you do decide selling the gear is the best option, do you think you will recoup enough of your investment to make it worthwhile to buy GPU's and switch to ALT's? Gear is now selling at a deeply reduced rate so you may not get what you think you can. GPU's are a little cheaper than they were but from what I've seen they are still not a steal by any means.

Personally I've doubled down on BTC miners in the last week to keep my hashrate up, but did build a GPU rig a few months ago because I wanted to have options to weather our current situation.

Either way Good luck.

Edit: I'm not familiar with the miner but I thought OP was discussing this

From post I deleted.

Title: Re: Mining bircoin
Post by: NotFuzzyWarm on June 26, 2018, 02:26:51 PM
By gum, yer right. Post deleted. Dang - due to their prior lack of individual miner sales been a while since I've visited the Bitfury site and seems they've stepped up their game to sell outside of the Corporate mining world.

Title: Re: Mining bircoin
Post by: Steamtyme on June 26, 2018, 03:09:10 PM
No worries nothing wrong with keeping me on my toes. ;)

Until this post I hadn't ever looked into them as I remember you vets talking about them not being available. Times they are a changing.

Title: Re: Mining bitcoin
Post by: Simvolickk on June 26, 2018, 07:01:52 PM
When I was getting into mining world I could not find any ASIC to mine BTC so I had to get the first thing available which was the B8 with the link you provided.

I agree this topic can maybe go into mining speculation but I do not want to see wild guesses on is BTC going to go up or down, I am only interested in the opinions of other miners on the whole "Mine while in a loss" deal.

I can afford to lose out right now while mining, but I am not certain that if this continues I will be able to carry on.

Title: Re: Mining bitcoin
Post by: Steamtyme on June 26, 2018, 07:37:52 PM
No worries, MODS moved you into speculation.

There is another option besides mining at a loss. Your equipment is currently still profitable if you were to have it hosted. The only problem is finding a reputable company to host the Miner, that also has space in their facility.

You did say you can handle the Mining at a loss for now, but does that mean you do need to cash in for the FIAT income? Or you just don't want to keep paying the electrical costs on the hope BTC rises again?

Depending on what you decide my previous point on hardware sales is something to consider; no one is paying a premium anymore.