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Nobody with a mining rig today is losing unless they are doing it wrong. In fact the profits are still good compared to historical norms. Crisis and gloom are also part of investing and are not a reason to change direction if you have long term goal.
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Only short-sighted people look at day to day profitability. Successful investments require a long term vision and purpose, mining is no different. If you were around during the GPU run-up of 2014, you also know GPU prices went up quickly and were slow to come down even after profitability was nowhere to be found after ASIC's and megapools took over most of the coins being mined.
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Soon these mining specific cards will be selling for $80 and less hehe
Is that another one of your fetishes, together with suicidal noobs? LOL. |
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I have a folder of more than 20 dead coins that I mined from back in the Scypt and X11 clone days. Some of those, like the country coins were pumped to hell and back and if you had invested directly in the coin, your investment today is worth zero or peanuts compared to what they traded for,
Ok now I understand, those were not the times to buy. Unless there was a greater fool. Just like ICO's today... Show me something that went to zero after 8/2015. I took a break from mining after the crash of 2014 and only started again earlier this year. Clearly in hindsight that was a mistake vs if I had just kept mining. The good news is I held on to most of the coins I mined and for the most part, I'm glad I did. If you are saying that no coin that is being traded now has a chance of going to zero, then I would say that is not a good assumption to make given the fact 95%+ of coins are just clones of other coins with little or no difference to the other coins. In my view, that is another advantage mining has over buying directly. Since your recurring cost is essentially the same for any coin you mine, you don't need to time your purchases and be right. |
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If the coin goes down or to zero, you take 100% of the loss.
Show me something that went to zero, xpy might still be listed somewhere. Onecoin is also doing pretty well, the amount of free cash flowing in is just enormous. A mining rig is an asset that has a value other than mining, which can be sold or repurposed towards any other coin
True YOU choose
Hmm, not sure what this means. I can't choose where to invest? I have a folder of more than 20 dead coins that I mined from back in the Scypt and X11 clone days. Some of those, like the country coins were pumped to hell and back and if you had invested directly in the coin, your investment today is worth zero or peanuts compared to what they traded for, if the blockchain even works at all. You can of course choose to invest in another coin by risking more capital, but that also means you are taking on even more risk. With a mining rig you already have changing to another coin is as simple as a change in the miner configuration, with little additional risk other than your power costs. |
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Who cares about difficulty when markets are down 20% in hours only? Instant ice-age.
If you take mining for what it is and always has been, a long term investment and hedge against being left holding the bag by buying coins directly, the day to day prices are irrelevant. How does holding the bag differ from holding the hardware? And don't get me wrong, I am a miner too. fact: difficulty will rise --> we need bull markets to level that diff rise --> better daily profits need markets to rise more than diff --> if you are sure markets will rise more than diff why don't you buy in then? fact: only way to do some serious profits with rigs is to mine, hold and wait. --> needs rising markets to happen --> if you are sure markets will rise why don't you buy in then? fact: trading makes profits both ways --> today, miners will run through excels one more time, are we going below $2/day/gpu? --> today, shorters again made loads of cash So, after all you made some mining profits? That is no excuse to do bad investments with those profits. It is fun though... Investing directly in the coin you generally only have one way to profit. The coin you buy goes up in value and you sell it for more than you paid for it. If the coin goes down or to zero, you take 100% of the loss. A mining rig is an asset that has a value other than mining, which can be sold or repurposed towards any other coin YOU choose for little risk other than your power cost once it's paid off. As such you have more ways to come out ahead than you do if you just buy the coin. |
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Best thing for these people to do is sell their cards before they hit rock bottom prices, then take that money and buy coins. At least they'll have a chance to make money then.
What if they maxed out their credit card? Well, that was a mistake in the first place. Sell the cards, pay most of it back and don't get in at the top of the market again. They fucked up plain and simple. Bought into the hype at the peak of the pump, did ZERO research then payed 50-100% above msrp for cards. Give it another month and profit will be some slim pickings at which cards will be cheap as hell this is the last stop to sell off excess hardware. The rest of us straight chilling with well padded crypto accounts, and some of us will swoop in on cheap gpus. And as history shows, those that keep mining will come out ahead. Even if you built rigs before the last crash in 2014, you came out way ahead if you kept mining while the market and profitability tanked AND you were able to sell the hardware for more than wait you paid for it after the market turned back up. Only works for places with cheap electricity. If you were mining ETH back in Nov of last year with a six card rig you already had and at a loss once power was factored in, you were able to a accumulate several ETH a week, more than you could have by buying ETH at the $8 low directly, for little additional risk other than your power cost. You came out way ahead once the market turned AND still have the hardware. That's why it's important to focus on mining as a long term hedge and not a daily profit center. |
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Best thing for these people to do is sell their cards before they hit rock bottom prices, then take that money and buy coins. At least they'll have a chance to make money then.
What if they maxed out their credit card? Well, that was a mistake in the first place. Sell the cards, pay most of it back and don't get in at the top of the market again. They fucked up plain and simple. Bought into the hype at the peak of the pump, did ZERO research then payed 50-100% above msrp for cards. Give it another month and profit will be some slim pickings at which cards will be cheap as hell this is the last stop to sell off excess hardware. The rest of us straight chilling with well padded crypto accounts, and some of us will swoop in on cheap gpus. And as history shows, those that keep mining will come out ahead. Even if you built rigs before the last crash in 2014, you came out way ahead if you kept mining while the market and profitability tanked AND you were able to sell the hardware for more than what you paid for it after the market turned back up. |
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Who cares about difficulty when markets are down 20% in hours only? Instant ice-age.
The people that care about day to day prices are day traders and those that mine with NiceHash. If you take mining for what it is and always has been, a long term investment and hedge against being left holding the bag by buying coins directly, the day to day prices are irrelevant. |
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The current ETH difficulty has more to do with the ICE AGE that was PROGRAMMED to increase the difficulty exponentially as the switch to POS was closer. The question is whether the developers will back it off now that the move to POS is not ready as soon as it was planned.
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Nobody can predict the future and much less predict which coin you should buy. While I would certainly not buy cards at the inflated prices they are now, a mining rig always has and will be a hedge versus buying coins directly. By investing directly in a coin you are taking a risk that the coin you invest in goes down in value and you are left holding the bag. A mining rig is an asset that has a value other than mining that can be sold or it be can be repurposed towards another coin. What history has shown is that those that look at mining as a long term investment and keep mining even when it was not profitable to do so are the ones that benefit the most e.g. LTC and ETH 6 months ago.
History has shown us if MOST people had spent the $600 dollars they would have spent buying a 7970 on buying Bitcoin directly they would have come out with more Bitcoin in the end (myself being one those and I was mining BTC in 2011). There is no guarantee history will repeat itself from 2014. 10x as many people now know what crypto and blockchain tech is. GPU mining has proven that it not just a fad. Hindsight has also shown Bitcoin has periods of great boom and retraction, as does ETH. Even if you missed buying ETH at 0.8 cents where was everybody when it was under $10 in January of 2017. Litecoin was laughed at. Monero was looking like a PnD. My gut tells me that all those people buying $600 1070s and $400 470s are going to call it quits once they're making less than 50 cents a day per card and they get sick of the heat and noise. Those using the cards for heating will push on. Those massive GPU farms in China have no intentions of quitting and will drive ETH difficulty well past 100 before end of August. If you're casually mining to pay off part of your new gaming rig then go for it! You're helping to secure emerging networks and if you're selling for fiat each week you really can't lose much - but you're not really INVESTING. INVESTORS don't care about the fiat price from day to day or even month to month. They care if their dev team is advancing the tech. If you're buying one of these new ETH ICOs which people are selling their cars and houses for then I have to question the sanity of the current market. Bloomberg calling Bitcoin a ponzi in 2011 was hack journalism. WSJ call ETH ICOs a craze that will end badly for some is probably insightful reporting. You say if INVEST in a coin and the coin's value (in fiat) I assume goes down then you are left holding a BAG. haha, bagholders. Yeah well some of us BTC bagholders sold at $5 after Bitcoin recovered from $2. Again anything is duh stupid with hindsight. That's the thing though, there is RISK with investment. Building a mining rig to mine with is hedging your investment. You're assuming that even if the coin you're mining goes to zero you still can sell your parts for at least 33 to 50% of their original value (unless you're buying a RX560 for $250). The richest men/women in crypto did not become that way buy hedging. They went all in (some by scamming). As an investor never invest more than you can afford to lose - this is sound advice since all of time and is still valid today (unless you like waking up with your kidney missing). If you feel more comfortable hedging by mining then that is a viable option. If you truly believe your blockchain technology will change the world then you don't care if ETH was $10 in January even if you bought it at the peak in March 2016 (well unless you switched to the ETC team). TLDR - If your goal is to break even in fiat and risk little go ahead and mine with current inflated card, DDR4, PSU and Mobo prices. If your goal is to become a crypto overlord and retire at 40 then just buy the coins - but at least learn a little bit of basic trading strategy and learn how to at least secure your own private keys. And if instead of mining BTC with that 7970 you had mined LTC when it launched in 2011 you would have thousands more today. To me the main adavantage a mining rig has over investing directly is YOU can decide what to mine and after it's paid off there is little additional risk other than your power cost. When the next big coin comes around, like ETH did after the scrypt and x11 crash of 2014, you will be ready. |
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Nobody can predict the future and much less predict which coin you should buy. While I would certainly not buy cards at the inflated prices they are now, a mining rig always has and will be a hedge versus buying coins directly. By investing directly in a coin, you are taking a risk the coin you buy goes down in value and you are left holding the bag. A mining rig is an asset that has a value other than mining that can be sold or it be can be repurposed towards another coin. What history has shown is that those that look at mining as a long term investment and keep mining even when it was not profitable to do so are the ones that benefit the most e.g. LTC and ETH 6 months ago.
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Readme: -mport remote monitoring/management port. Default value is -3333 (read-only mode), specify "-mport 0" to disable remote monitoring/management feature.
Specify negative value to enable monitoring (get statistics) but disable management (restart, uploading files), for example, "-mport -3333" enables port 3333 for remote monitoring, but remote management will be blocked. |
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Hi friends, I was recommended to use this software "aida64" https://mega.nz/#!ZCpH2JqY!CVHs1HUg1MmM2kXlmzUcHEuoAApI8tyPvAlZ4BKMYIQ to monitor the temperatures and fan coolers of my mining pc, which is the one that throws them the most accurate, My Question is if there is a better than this or there is a better or more accurate, I hope someone With good intentions help me please.  The temperature and fan speed are reportred in Claymore. If you use AMD cards, you need to have a monitor or dummy plug in one of the cards for the AMD driver to be able to monitor and set the temperature and fan speed. https://www.amazon.com/Display-Emulator-Headless-Display-Fit-Headless-1920x1080-3840x2160/dp/B06XSZR7CG |
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Do I have to power the USB risers that are plugged in X16 slot?
Thanks.
The RX series cards all draw ~50W from the PCI-e slot. Add this to the fact that there is no real reason NOT to power the riser, I suggest that you do. Is the 50 watt power draw confirmed on the pcie slot? older cards draw 22-25 watts only. I have a six card rig with five mixed RX 4XX/5XX cards and one 1080. I use a dual PSU setup with the main PSU that powers the motherboard also powers all the risers and a SSD. The second PSU is only for the VGA power inputs. The draw on the main PSU powering the risers is 365 W, so each riser uses ~50 W. |
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Nope. The most I do is wipe the goop off and apply artic silver 5. If it ain't broke, don't fix it.
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I would mine dash, best profitability now!
Not going to happen if you are talking about mining with GPU's. DASH has been ASIC only for years now. |
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I have been able to get both types of cards to mine on the same machine but have been unable to see the temps or setup fan speeds and clocks on the AMD card.
Is there so way to do this with having a headless dummy plug?
Yes, you need a monitor or dummy plug in one of the AMD cards for the driver to monitor and set the temperature and fan speed. |
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thanks for the insight @Ayers, but would you mind answering my questions in the OP... I know my card is ancient to mine Eth...
What he's trying to say is that is not an efficient card for ETH mining. If you want to accumulate ETH, it would be more profitable to mine another coin that your card is more efficient with and then convert it to ETH by selling the mined coins and buying ETH. I would also suggest downloading the NiceHash miner and running the benchmark. That will give your cards hash rate for different algorithms and then use a profitability calculator to find out which are the best coins to mine. http://whattomine.com |
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