I've been mining since 2016 and have 7-5.4 cent electricity.  Even with cheap electricity a bear market is not fun and if you buy gear at inflated prices you will never ROI.

I try to make my moves are market extremes, sell / hedge at highs like now and buy lows when crypto is "dead".   

If your a big miner sell short, limit your downside.  The market is still high and profits are still good, lock it in.  If the market recovers your mning can cover your short position.  I'm one month of  income hedged right now and will keep adding if things continue down.  I'll hedged two years worth of mning if things look bad.

My hedge started working nicely now.   Now I have a nice 1.1 btc short with a 54,000 basis and a stop at 53,500, collecting interest also, hopefully around 0.25% a day.

At this point my play is to be short until the market strengthens, trying to trade this as a hedge and letting it run.  If things still look weak tomorrow I'll have to set price points of where to sell more short, being careful not to let my  position turn negative.  If I get stopped out all the better my mining profits will make up for it.



Perfect example of wny I retired from 20 years of trading and started mning back in 2016.  I went from a $4,000k gain to $500 profit.

Anyone use the futures to hedge?  Hedeging can provide a coushin aganst falling priceses.  I just sold one month of minining in BTC short at 49,650, set my stop at 49550.  Small chance it will work but its cheap insurance.  I'll collect intrest and  add to my position if prices fall. 

I'm going to put toghter some sort of system of hedging, long or short.  Also need to hedge aganst rising prices, mining equipment prices rise with crypto.

I go to Microcenter everyday at lunch and I was able to buy a couple cards a week.  Now I go and the shelves are bear or they have over priced 6800 XTs, 1660s or 3090s for two grand.  Is the GPU supply low or is their a lot of demand similar to 2017?

I still have 30 1000 series cards I need to replace .

I'm stupid, I assumed this was the new 700mh ASIC miner.

3060 TIs would be a better choice, I have 7 and they run flawless.  I have about 50 5700s and they can be a pain, some are great others crash the rigs and it gets worse in the summer heat.

Right now profits area abnormally high, I wouldn't make any projections using today's mining profits.  Why not gpu's, if things become unprofitable you have hardware to sell.  The ASICs becomes a door stopper.  If profits remain this high for long a lot of hash will be added to the network reducing profits.  I've mined from 2016 to now and around the high in 2017 I was making $400 a day in 2017 I was making $30 a day in 2019.  My gtx 1070 gpus i bought in 2017 for $340 are selling on ebay for $250 and the ASICs I bought in 2017-2018 are worth nothing. 

You can see a drop in hash rate on ethermine every dag increase.

https://ethermine.org/statistics

Are you getting any rejected shares?  I was using T-Rex and it seemed to report a higher hash rate then phoenix but poolside phoenix was about 10% better.

Yes, switched hash rate jumped and rejected shares 0 vs 15.  T-Rex seemed to work better then phoenix until dag 382.

I'm using Phoenix for AMD and T-Rex for NVIDIA.  I was a few versions behind on Phoenix, changed to the newest version and I'll see if that helps.  


Edit,

Switched all miners to phoenix and hash rate looks like its going back up. 5,578 vs 5,150.  

SMSO is reporting 5,600 mh/s which has not changed and Ethrmine average hash rate is 5,175.  That's a bigger then usual difference, poolside hash rate use to be around 5,300 - 5,500.  Seems to have been like this for over a week and I do not have any 4GB cards.  I have one 3080 running on windows not listed on SMOS.

Anyone else noticing a reducing in hash rate on 6GB - 8GB cards?  My poolside hash rate has dropped from 5.4 GH/s to 5.15 GH/s over the last two dag increases?  I'm on ethermine might switch pools.

This miner pops up every year, never seems to come out. 

https://medium.com/@Linzhi/linzhi-e1400-tapeout-1688df3bb5d

https://bitcoinmagazine.com/articles/new-mining-manufacturer-linzhi-announces-ethereum-asic-miner

I'm selling short two weeks worth of mining revenue in BTC, will add to it if things weaken. 

Once the public starts buying I look at selling, but I don't see much interest yet.  I've worked in the financial field for 20 years and its always the same, day trading, panic selling in march of 2009 buying high and selling low.

I wounder is all the E3s are not working i don't see a drop in the eth difficulty or hash rate.

If I buy any more cards I will stick with the 3000 series.  My 5700 and 5600 cards are efficient but some can be hard to keep running, you never know what you will get.  I have 5000 series rigs that run months at a time and some reboot a couple times a day.  I just had a 5700 than ranf for over a year start crashing the rig and had to remove the card. 

If you are a serious miner you need to learn to hedge your mining income similar to farmers or gold miners.  You could negate most of your income loss caused by falling prices.

These debates are like saying you should have bought Tesla at $5 or comparing owing a CD compared to a stock.  What if you bought eth at $500 or $1?

If you want to make money you need to buy your gear, electricity or coin at low prices.

Coin's can generate a large capital gain over years but no income.

Mining can produce daily income but no capital gain.