Dual mining at low power can definitely work on some video cards, like the RTX 3060 12GB. I used to mine ETH+CFX at 44 Mh total @ 115w before the LHR hack.

I'm glad I sold 15 or so video cards this week at MSRP prices too. I bought the RTX 3060's for $570, made $120 of mining profit on each one, then sold them for $300 net. That is a loss, but it could be much worse. They make 50 cents of profit/day now, plus my power cost will rise from 8 cents to 10 cents. Not worth it. I'll wait until the big crash, then I can likely buy back these RTX 3060's for just $170.

I'm a developer and I'm not afraid at all. The most successful crypto companies were started during the bear market. They already built the technology by the time the bull market started, so they were prepared for the massive influx of new users. I remember creating a Coinbase account back in 2016, seeing the website improve, then seeing them handling all the new users in 2017-2018 effortlessly. But I don't use Coinbase anymore.

My business idea is to start a mining service where ordinary people can invest in mining with as little as $10, and can re-invest profit into more hashrate. They can buy fractions of a terahash and use whatever pool they want. The barrier to entry can be lower than having to buy an entire ASIC for $6k. If one physical farm steals the money or goes bankrupt, the hashrate can be re-routed from a different provider.

Nope, the electricity cost is guaranteed to be higher than the revenue, or only a few cents, which probably isn't worth the time. It would be cheaper to buy the XMR.

I said 'probably'. I did not buy at $26k, and I hold very few coins, so I didn't suffer.

That is what I did this week. 40 cents of profit per day is garbage for a video card I can still sell for $300+. I will not buy any BTC with the funds. Instead I will hold them as fiat or even invest in real estate.

Absolutely. In fact, you should probably sell ALL of your video cards NOW, or at least as many as you have time for. Sell the AMD cards first, then the higher-end RTX cards. That's what I did. You will probably be able to build back later at half the price. Buy coins or hold fiat.

The whole point of these public Bitcoin mining companies was never to issue a dividend, at least not for the first few years. Marathon & Riot are C corporations with a 21% tax rate, and most of their shareholders will pay a 20% tax rate on dividends. They can return the 'growth' to the shareholders at zero tax, by making use of depreciation and not issuing dividends. If the BTC rises in value, why sell it and pay dividends? Why sell it when the price is so low? Let the shareholders make that decision by selling their shares at the time they want.

I can't believe I am so excited about the bloodbath in the market. Yes, I sold 80% of my video cards at a loss, but on the other hand, I gained hundreds shorting crypto stocks.

We will also get to test my theory, where I predicted on Reddit back in April that the price of an RTX 3090 card would be $500 or less within 6 months after the PoS merge.



We're already most of the way there. Down $1800, only $700 left to go. Only 500-600 to go if you count private bulk sales.

This is why I decided to sell my video cards slowly one-by-one over the next 1-2 weeks in order to get higher prices.

I took into account the tax advantages of mining. That is how it became 30%.

Absolutely, the HODL price model says price crossed the lower boundary. That means we probably won't go any lower than $27k BTC. So I would buy a bunch of BTC, then if video cards are very cheap in a few months, sell half your BTC to build mining rigs again.

Hah, mining farms are now being measured at the gigawatt scale:
Soon it will be too hard to track megawatts.



You're probably right that short term difficulty will stay flat or grow slowly. But not 2-3 years from now!

You should probably sell your CPUs and buy coins with the funds. Mining Monero will be unprofitable unless you have free power, and it will take years to get a payback on your hardware.

I was talking about proof-of-stake, not price declines. PoS will wipe out 95% of the revenue available to GPU miners.

Economic freedom /property rights would be the main advantage. The government can't just confiscate the mining farm or Bitcoins as long as you follow the law. Banning cryptocurrency or mining is very difficult since it needs to pass the legislative and judicial branches.

For taxes, yes the rates are high... but there are so many depreciation incentives that the effective tax rate can be as low as zero as long as you keep re-investing in more equipment.

Finally, there are big established power markets like ERCOT or PJM where you can buy lots of energy with lots of options for the contract structure. As an example, Riot Whinstone has a fixed ERCOT contract for 2.9¢/kWh. They have massively profited because now the energy price in Texas has doubled.

If you want to mine in the U.S., I recommend the Midwest since there are less mining farms there and they won't crack down on mining like 'Noo Yawk'. You might pay more for power but the weather is cooler than Georgia or Texas or Oklahoma.

Exactly my strategy

Even if your power cost is 6 cents, it's probably a good idea not to own any Radeon RX 5000 or older / GeForce GTX 1000 or older video cards. I would wait until the big PoS crash and buy RTX 2080 Ti's or RTX 2070 super or RTX 3060 Ti cards for cheap, as they are very good at non-ETH algos.

I still think speculatively mining altcoins is a good idea as long as it's cheaper to mine them than to buy them. I ran the numbers. In general, over the past 6 years it's always at least 30% cheaper to mine any coin than buy it. If price stays stagnant, it can easily be 50% cheaper to mine the coin. I will always have at least 1 rig for speculative mining.

BTC is definitely the safer coin and dominates the market cap during bear markets. It's probably better to HODL BTC while it's still falling, but trade it for altcoins when the market starts trending upward again.

The yield on almost every Goldshell ASIC sucks. I bought a KD-BOX for $4800 in March and it made $7/day of revenue. Now it makes 2 bucks if I am lucky, and is only worth $2300. That's a payback time of > 1000 days. I doubt these new models will be any different, especially since power cost doesn't matter for KDA mining.

I would not run more than 10 video cards on any motherboard. The potential for technical problems is too great. Not worth saving a few bucks on system component costs. If you want more stability, go with 8 cards.

I absolutely have the courage to buy $30k+ worth of mining rigs during the real bear market, when or if they're half of MSRP. I have gone through the last bear market and this strategy has given me a 5x return on my money. I'll buy the rigs and assume they will make zero profit for 3 years in a row. Only then would I give up and sell the cards.