What are small miners doing right now?

[swogerino]

If you pay $200 for electricity and get $90 worth of cryptocurrency. Then you get a loss of 110 dollars. I think that in this situation it is better to buy cryptocurrency for 110 dollars every month

Thanks for this answer. One dude who understand this. Swogerino did not really understanding this  

@Swogerino sorry mate but you are wrong as always - you did not understand the point that miners must pay there bill - only people who pay nothing for the electrictiy can act like you. (it is impossible - electricity is never free - some dude most pay the bill)
FP91G explained it well - if you mining reward is 90$ per month but you pay 200$ for the electricity = you loose 110$. Invest this 200$ is better.

And electricity price here in germany is about 0,35$ per Kwh   This is why i don´t have any rig running in germany -> all in eastern europe. But the new goverment will kill our EEG taxes for electricity -> this will bring down the price to maybe 0,25$ per Kwh

I described it in another thread: I bought 5x S9 in may 2017 for over 2000$ per unit + Shipping + Taxes = cost me around 12000$ or so - this were over 8 BTC at this time - this 5x S9 never mined over 8 BTC in this time. Same story for ETH - 13000$ invested at a ETH price of 30 - 50$ = over 260 ETH - never mined with this gear.

And this guys who say: "mine and hold" yes sure but nobody knows what happens in the future - holding is a gamble every time!!!!!

It is more profitable to trade in my view.

JayDDee i'm shocked!!!!!!  You say mining at a lose is better than buying? This is really really disappointing. It says - mining at a lose so how could this be better than buying for the market price?



Mining is just another way to acquire crypto for trading. If trading is your plan then mining, even at a loss,
costs less than buying crypto on the open market. I certainly wouldn't be buying if I had unused mining
capacity.

Let me explain it to you again as maybe this time you will understand.I kept mining at a loss and didn't buy crypto because I knew if I did buy crypto I would have been really tempted to try trading the buy/sell game in which everyone is a loser in the long run and would have lost it all most probably,just like in gambling so that's why I continued to pay 200 USD to mine 90 USD worth of cryptos monthly,those 90 USD were made in a month and not bought in a day.

Think what you like but what I did brought me about 40.000 USD of net profit and even a bit more in February 2021.Holding is not a gamble as it has turned out in the long run the Bitcoin price has been always in the upside (despite some corrections we call bear markets).

[JayDDee]

Let me explain it to you again as maybe this time you will understand.I kept mining at a loss and didn't buy crypto because I knew if I did buy crypto I would have been really tempted to try trading the buy/sell game in which everyone is a loser in the long run and would have lost it all most probably,just like in gambling so that's why I continued to pay 200 USD to mine 90 USD worth of cryptos monthly,those 90 USD were made in a month and not bought in a day.

Think what you like but what I did brought me about 40.000 USD of net profit and even a bit more in February 2021.Holding is not a gamble as it has turned out in the long run the Bitcoin price has been always in the upside (despite some corrections we call bear markets).

That pretty much nailed it.

"Mining at a loss" is really selling at the wrong time, not mining at the wrong time.

[CryptoATM]

Mining profit is affected because of the ongoing war but now that peace meeting is on going the market is now looking more bullish once again, ETH mining still works I don't see any reason to stop mining for now wether small miner or big miners.

[FP91G]

If you pay $200 for electricity and get $90 worth of cryptocurrency. Then you get a loss of 110 dollars. I think that in this situation it is better to buy cryptocurrency for 110 dollars every month

Thanks for this answer. One dude who understand this. Swogerino did not really understanding this  

@Swogerino sorry mate but you are wrong as always - you did not understand the point that miners must pay there bill - only people who pay nothing for the electrictiy can act like you. (it is impossible - electricity is never free - some dude must pay the bill)
FP91G explained it well - if you mining reward is 90$ per month but you pay 200$ for the electricity = you loose 110$. Invest this 200$ is better.

And electricity price here in germany is about 0,35$ per Kwh   This is why i don´t have any rig running in germany -> all in eastern europe. But the new goverment will kill our EEG taxes for electricity -> this will bring down the price to maybe 0,25$ per Kwh

I described it in another thread: I bought 5x S9 in may 2017 for over 2000$ per unit + Shipping + Taxes = cost me around 12000$ or so - this were over 8 BTC at this time - this 5x S9 never mined over 8 BTC in this time. Same story for ETH - 13000$ invested at a ETH price of 30 - 50$ = over 260 ETH - never mined with this gear.

And this guys who say: "mine and hold" yes sure but nobody knows what happens in the future - holding is a gamble every time!!!!!

It is more profitable to trade in my view.

Mining is just another way to acquire crypto for trading. If trading is your plan then mining, even at a loss,
costs less than buying crypto on the open market. I certainly wouldn't be buying if I had unused mining
capacity.

JayDDee i'm shocked!!!!!!   You say mining at a lose is better than buying? This is really really disappointing. It says - mining at a lose so how could this be better than buying for the market price?

0,025- 0,35$ per Kwh*  With such electricity prices, I would not even think about mining. I also sold all the mined cryptocurrency in 2015-2018, but now experience suggests that you need to save 30-50% of the cryptocurrency as an investment if the equipment has already paid off.

[dominguero]

I as a very small miner (only use my own PC), dont see any interest with mining established coins.

A few years ago (I started in 2017) I liked to mine projects that just came out (within the first month from the genesis block) but now I don't want yo investigate every project that comes out, because the 99.9% is pure shit...

For that reason I've been mining a currency that is completely unknown for about a year, that has constant development, quite technical requirements (only linux) and ideas far away from what today day is fashionable... and obviously its value is 0.

The electric bill was paid (largely and for several years) with the 2017´s earnings, so now I am not looking for any profitability, I simply do what I consider correct, without any additional concern.

It's like a hobby, I value knowledge more than getting my investment right... I really do it for the simple fact of not completely abandoning the essence of the crypto world, nor simplifying it as a speculative market... I still have hope that the best is yet to come to come, and that the most important thing that will remain of the entire current bubble will be what we have learned.

[MidNite36]

I as a very small miner (only use my own PC), dont see any interest with mining established coins.

A few years ago (I started in 2017) I liked to mine projects that just came out (within the first month from the genesis block) but now I don't want yo investigate every project that comes out, because the 99.9% is pure shit...

For that reason I've been mining a currency that is completely unknown for about a year, that has constant development, quite technical requirements (only linux) and ideas far away from what today day is fashionable... and obviously its value is 0.

The electric bill was paid (largely and for several years) with the 2017´s earnings, so now I am not looking for any profitability, I simply do what I consider correct, without any additional concern.

It's like a hobby, I value knowledge more than getting my investment right... I really do it for the simple fact of not completely abandoning the essence of the crypto world, nor simplifying it as a speculative market... I still have hope that the best is yet to come to come, and that the most important thing that will remain of the entire current bubble will be what we have learned.

Can you kindly share the name of this coin that you are secretly mining? I'm also not in rush to make back my initial gains I want to use this mining knowledge to know more about crypto as time goes by.

[dominguero]

Can you kindly share the name of this coin that you are secretly mining? I'm also not in rush to make back my initial gains I want to use this mining knowledge to know more about crypto as time goes by.

 It's not a secret... it's a project with no marketing and a single developer which is kind of weird.

A small compilation about...
lolnero

Lolnero is a fork of Wownero with a linear emission and a SHA-3 PoW.

There is no premine and no dev tax.


Why
The goal of Lolnero is to replace C/C++ with a safer language, and to not hardfork.


Specifications

Proof_of_Work: Max_supply: Block_reward: Block_time: Block_size_limit: Confidential_transaction: Ring_signature: Ring_size:

SHA-3  ∞  300  5 minutes  max(128k, Block height) bytes  Bulletproofs  CLSAG  32

Resources

Telegram LibraIRC   Web_Page   Source_Code   How_to_Compile   Reddit

https://t.co/eTVMvsdCVA  #lolnero  https://lolnero.org/  https://gitlab.com/lolnero/lolnero  https://gitlab.com/lolnero/lolnero/-/blob/release-0.9/doc/BUILD.md  https://www.reddit.com/r/lolnero_hs/

Now its 100% GPU mining, at the moment you need a full node (Linux or Android) to mining.

In principle the ecosystem is going well as it is, we are only looking for more nodes to decentralize the network. Pools, gpu miners, windows binary... are not a priority, but if you want, you can do them.

The first rule about lolnero is you don’t talk about lolnero.

[FP91G]

The first rule about lolnero is you don’t talk about lolnero.

The second rule of lolnero: "If you know about lolnero, then you should mine it"