I get that sentiment, but I've been scared off by BTC since it dropped from 33 to $2 and I stupidly sold at $5. Remind yourself by putting it in writing on paper on your trading binder "hey dummy, ETH at $100 is a great deal". If you felt that way when you picked it up at $100, then it's an even better deal at $80. The thing is people just go all in at once and don't dollar cost average or save reserves. $1000 at $80 buys more than $1000 at $1000. Yeah it's hard to tell the brain that the rollercoaster is going to go back up when your sphincter is puckering but that's why we have rational minds who see it all as manipulation and irrational exubarance.

Only took me 5 years to figure that out haha. But I never sold the BTC I bought at $900 when it was coming down from $1200 back in 2012. I'm still up 8x - better than anything short of Netflix and Amazon.

Yeah that 3GB card tanked the most. Even the RX faired better because they can still mine eth presently.

I had a standing buy order at Polo for $78.51 I believe and it went through, I have to log in and check the exact date. I'm so hands off now though because I tend to make more mistakes the more I micro manage things. I do much better with set it and forget it orders than I return to 6 or 12 months later. I stopped using Polo though so I don't even remember my logon credentials lol.

This is a great time to sell those 1060 3GB cards that can't mine eth as the 6GB cards are now in tighter supply so the 3GB rose up in price a bit.  Of course the smart thing to do would have been to stop mining in Dec 2017, sell all the cards, buy ETH or your fav alt or BTC when it hit rock bottom and sell on the run up. Sure it's not as fun as mining but I think we're well past the point where the networks need to be supported through decentralization.

If you have any holdings it would make sense to take a little profit taking. Those who held entirely in 2017 missed out on a lot of opportunity. BTC and alts will most certainly crash and run up again before the next halving.

I sold off my entire farm last year except for 1 rig and I'm mining UBIQ.

It's true 1060s can scrape a little money off ETH even at 10 cents but you have to consider that 1060 3gb cards are being sold on eBay for $70 when they were going for $150-$200 last year at this time. I took the proceeds from liquidating my rigs and bought ETH at $7x during the dip.

So I faired a lot better by getting out and if I want to get back in I can liquidate the ETH and buy 2060s to mine with but they seem meh at this point.

Oh God.... those "psus" were the shittiest things ever. I tested 5 of the 60 GH/s units at home the first day I got them. 1 psu was DOA. 1 blew as I flipped it to the "on" state. 3rd one died about 2 hours in and left a burn mark on my carpet.

I was talking about the actual ASIC units. They were pure crap. 208 BTC down the drain for each one. My mistake for not going with Avalon.

BTW, what if Jihan Wu and Yifu Gao are related?  Oh wouldn't that be funny.

I have a BFL 60 ASIC that didn't catch on fire - that's pretty rare because the other 4 units just like it all either blew caps, fried their boards or flat out burst into flames.

Maybe I can someday find Josh at throw it at his head.

For those of us who lived through 2013 to see the massive pump and dump of alts in 2014 - this is almost like a repeat. Different causes but same result. I still see Eth going back to $17 (depending on how the next fork updates), don't know where BTC will drop to.

Jihan had plenty of BTC and BTC forks in his wallets, but I'm sure they're running low on fiat to pay for their massive operations and upcoming legal issues. I expect they will liquidate some of their holdings to have some working capital.

And in true Bitmain fashion, I fully expect them to place some shorts, dump on the market at some off time and cause a panic sell off, and rebuy on the sell-off after having closed out their shorts.

Remember kids, even when Bitmain is losing they're winning. For those of you who don't understand - they're going to manipulate the prices some more (and not out of greed like they usually do but out of necessity this time lol).

While it may make sense to have rigs laying around I can't see what the hell you are mining unless you have insanely cheap power. Please don't tell me you're mining at a loss 

This is true. Look at the price dump the 1080Ti experienced. Market overreacted and they went back to $5xx area for a few days, then the shitty 2080 results came out and the 1080Ti prices went up again. But flagship level cards are always deviants.

There are 2 advantages to be considered selling now though. The demand is there from Christmas shoppers so it's a lot easier to sell. The second, and probably more important point, is that selling now will free up funds should crypto go on a firesale. I always like having a standing buy order just in case somebody Fat Fingers a massive sell - it paid off well when BTC got fat fingered to $104 (I think that's the price it hit on BTCe).

Having money now in hand allows for opportunities that may otherwise be missed. Man if I used my med school tuition debt and instead bought 2 houses in Southern California and flipped them just 2 years later I would have made $1 million and would only be taxed on $500k. I could have then bought again in the 2011 dump and made about $4 million at current prices. Sadly I have not come anywhere near that from my sad medical career.

But if you're only playing the mining game it makes no sense selling now other than being able to quickly liquidate to holiday buyers.

Closed software goes 2 ways on these forums- it either becomes really popular and lot of people try to decompile/hack it for their own benefit (ie Claymore miner) or it is a piece of trash tantamount to bending over in prison.

You're providing a modifier software that violates the terms of use of somebody else's software and on top of it you won't show the code.

I won't yell scam just yet, but I sure as hell would not download this and recommend any other users not using a VM to not even bother with this.

As noted this is not such an issue for people with 1 or 2 cards who were casual mining. People who took out $10k or $100k loans really have to consider the adverse effects of waiting. If the next coin boom doesn't occur for 2-3 years then good luck trying to unload 3GB or 4GB cards when 16GB cards (possibly on 7nm) become necessary for 4k/8k displays. Even if the cards aren't mining they typically go down in value.

Personally I dump my cards as soon as I can or when a new efficient node is being released. December 2017 gave some pretty clear signs it was a good time to exit mining.

Those veteran Radeon 4870s that were first mining BTC back in 2010/2011 never returned to see mining again.

1080Tis should be safe, but I don't think RX 470s and 3GB 1060s should be held.

Well if you bought some property to house miners back in 2016 then you should have seen a nice 20-100% gain in value in most parts of the US. 20% barely covers broker fees and property taxes but areas like Seattle are easily double from 4 years ago. That bubble is going to pop.

The thing I don't know is how crypto will fare when the US econ tanks. 1st Satoshi being minted in 2009 when the markets tanked but BTC didn't have the GPU bull run until 2011 (2013 if you discount the 2011 run).

It could get really ugly if people liquidate coin holdings to pay real world bills. What, Chase doesn't take Litecoin for mortgage payments?

On the last BTC run in 2013 the alts ate it for 3 years. There's no guarantee history will repeat itself, and obviously we have different circumstances now but the graphs look mighty similar.

Next BTC halving should either show some bullish signs or have some bull run 3-6 months after like the last halving. ETH was supposed to dethrone BTC and with all the poop BTC has gone through it remains king (from market cap side, maybe not development side).

This is the first time since 2011 I have nothing mining. No GPUs, no ASIC, not even my gaming laptop (which mined enough Monero to pay itself off back in the day). The RTX cards are trash from compute standpoint so I'm hoping AMD actually goes somewhere with 7nm.

Too bad real estate will probably crash same time as the next crypto run - I'll be spread too thin.

With the exception of ASICs which are already in hand for very specific cases, mining is not profitable.

For everybody who has free electricity consider this. If you have a 1080Ti mining full bore you might earn $100 to $150 over the course of the next 12 months (assuming current prices - haha, we're in a massive bear market right now, good luck with that). If you sell your 1080Ti in 12 months it will have most definitely lost at least $150 in value.

The only way it would ever be worth it to mine is if the coin shoots up 10x in price - in which case it would have made sense to buy it with fiat  with proceeds from the sale of the card at optimal prices (best would have been to sell last December and buy coins now).

Mining only makes sense stupid moon rockets have overpriced the market relative to current difficulty.

Look at the eth hashrate - took it long enough to start correcting - need to drop another 50% for mining to make sense (or cents) - lots of gamers going SLI and crossfire for cheap this holiday season lol. RTX pshaw...

I was able to sell my last 2 rigs as complete rigs so I was able to get a little extra. I'm in the red from a fiat standpoint but but still have more crypto than had I bought eth at $70, so until that point I'm ahead.

Like I said, this was and is going to be a bad November for crypto. I don't see any positive movement happening until maybe Q2 of next year.

Hopefully AMD's 7nm consumer cards will be out by then.

If you earned back all your mining equipment value less electricity fees then perhaps it can be profitable to continue mining if you have low electricity rates. The question being posed, or which should be posed rather, is what is the MOST profitable course. Of course nobody can predict the future with certainty so it comes down to a risk vs gain analysis.

Does the small gain earned while mining on a card outweigh the depreciation on a card? If the crypto market takes off again card values will soar and you will have made profit from both mining and also reselling your card at a later time. If it doesn't take off then the $0.30 earned on a 1060 doesn't offset the $0.40 depreciation.

Looking at the charts I feel the sentiment is still bullish for the time being with short activity still putting downward pressure.

If you guys think the 2nd hand market it dead now, wait until nVidia finished unloading it's Pascal glut from mining overproduction during the Christmas sales. Only then will it drop the RTX prices, but when it does those RX 470s and 3GB 1060s are going to be sub $100. The 3GB 1060s won't be able to even mine ETH on Win7 at that point so all the legacy people like me mining on Win 7 rigs will dump even more 1060s onto the market (well I only have 1 rig of 6).

Bills will be due in January and many people will liquidate crypto earnings (possibly profits but even losses for new people) just to have fiat. I can't see this crypto market turning bullish in the next 4 months sadly.

I'm down to 14 cards mining now - my lowest number since 2011. But I do have a lot more free time now that I don't have to manage a farm 

Looks like another cloud is defaulting. Cyrptomining.farm is failing to make payments: https://bitcointalk.org/index.php?topic=5040529.0

OP what's your wallet address. That way the newbs can bypass the steps involved with getting their coins stolen from a keylogger or trojan and go straight to paying you