Miners - What do you do when Difficulty jumps?

[aviz123]

Hello Miners.

Just wanted to discuss how some more knowledgeable miners who are mining for over 12 months.

Please share your views

1- Do you think or believe mining Alt Coins or mining from GPU - will ever finish or completely die?

2- You believe difficulty is going to rise, so how would you cope up with it?  a) Reinvest in new cards b) Keep on holding the AltCoins that you mined c) Or what.. please advise..

3- With the NetHash pumping... what alternatives do you plan or look in to?

4- If God Forbid, Alt Coins or Crypto Market completely vanishes.. Which is highly unlikely... what risk measures have you pre-planned up..


Thanks in advance for your input...

[aviz123]

Looks like no one is worried.

And its a Chill Environment.. Looks Good!!

[droghtak]

Hello Miners.

Just wanted to discuss how some more knowledgeable miners who are mining for over 12 months.

Please share your views

1- Do you think or believe mining Alt Coins or mining from GPU - will ever finish or completely die?

2- You believe difficulty is going to rise, so how would you cope up with it?  a) Reinvest in new cards b) Keep on holding the AltCoins that you mined c) Or what.. please advise..

3- With the NetHash pumping... what alternatives do you plan or look in to?

4- If God Forbid, Alt Coins or Crypto Market completely vanishes.. Which is highly unlikely... what risk measures have you pre-planned up..


Thanks in advance for your input...

1. Yes. Actually it happened in the past ... dry times
2. Yes. It depends on what do you want to achieve... if you want to get money, you can jump to another altcoin or mine and hodl
3. See 2
4. Sell GPUs

[StanchoBS]

When difficulty jumps i drink very cold water

[Za1n]

Mainly you buckle down and mine harder.

Seriously though, you do try to find ways to optimize your rigs as much as possible, meaning you want to be hashing at the most efficient level versus power consumption for most of us as electricity really starts to matter when profits get tight. When times were good and you were making 10x your electricity costs tweaks didn't matter to most people as they just wanted the most hashrate possible regardless of the power draw. Now as that profit to electrical cost ratio starts to creep down to maybe 3x, then 2x, then 1.something X those optimizations will really start to matter just to be able to tough it out.

Once you exhaust all the tricks you can to keep in-front of electricity bills, you will need to resort to droghtak's suggestion above, sell your GPUs. However, by that time many other people are probably already going to be dumping their GPUs onto the second-hand gamer market, so I think that many gamers who have been put off by the recent high GPU prices will indeed have a very nice Christmas this year.

[aviz123]

It makes me wonder - why the big farms are still investing and buying huge quantity of Cards still ?
For example cloud mining companies. Is it they are making individuals FOOL ?

[leonix007]

It makes me wonder - why the big farms are still investing and buying huge quantity of Cards still ?
 

maybe they know that GPU mining can still be good, or thinking somewhat other coin will be born and profitable again.

Is it they are making individuals FOOL ?

No, they are just positive with GPU mining.

[Marvell2]

Buy more hardware lol

[JamesAdams]

Hello Miners.

Just wanted to discuss how some more knowledgeable miners who are mining for over 12 months.

Please share your views

1- Do you think or believe mining Alt Coins or mining from GPU - will ever finish or completely die?

2- You believe difficulty is going to rise, so how would you cope up with it?  a) Reinvest in new cards b) Keep on holding the AltCoins that you mined c) Or what.. please advise..

3- With the NetHash pumping... what alternatives do you plan or look in to?

4- If God Forbid, Alt Coins or Crypto Market completely vanishes.. Which is highly unlikely... what risk measures have you pre-planned up..


Thanks in advance for your input...

1. No, there are many altcoins that can be GPU/CPU mined right now. Unless everything dies from an insane solar flare or something there will always be something to GPU mine or unless ASICs are really easy and cheap to make (unlikely).

2. Reinvest. Holding or selling the coins depends on the status of the coin being mined, for example if I were mining XMR right now I would hold but ZCash is in a bear market so I would sell.

3. Buy more cards?

4. Sell those GPUs for some money or rent the computing power out for a decent price.

[philipma1957]

Hello Miners.

Just wanted to discuss how some more knowledgeable miners who are mining for over 12 months.

Please share your views

1- Do you think or believe mining Alt Coins or mining from GPU - will ever finish or completely die?

2- You believe difficulty is going to rise, so how would you cope up with it?  a) Reinvest in new cards b) Keep on holding the AltCoins that you mined c) Or what.. please advise..

3- With the NetHash pumping... what alternatives do you plan or look in to?

4- If God Forbid, Alt Coins or Crypto Market completely vanishes.. Which is highly unlikely... what risk measures have you pre-planned up..


Thanks in advance for your input...

1) NO it won't finish or die  but it could become a losing game it has before.
2) There are so many coins to mine  that  I look to switch. I hold 2 coins BCC and BTC  all other coins I convert to BTC .
3) do not understand this question.
4) I sold  enough coins that I would simply power off the gear.  I am far enough ahead that even with 30k in idle gear I turned a profit. I might do folding as a way to help humanity.

[Jackblow33]

2. Reinvest. Holding or selling the coins depends on the status of the coin being mined, for example if I were mining XMR right now I would hold but ZCash is in a bear market so I would sell.

Zcash Sept 1st = 307$ and today = 215$ ... Sell??? XMR hold... Why? XMR rise justified you think? Just asking.

[fanatic26]

If you dont have the stones to sit through the dips, mining is not the way to go. I have seen so many panic sellers when there is a drop in the market like we are seeing right now, then when it recovers in a week you are left holding an empty bag while everyone else continues to reap the profits. Mining is not a short game, you need to be in it for the long haul to realize true profits. Also, remember that not all of these coins work like BTC, some of them adjust difficulty dynamically so from hour to hour day to day the profits will never hold steady.

Take ZEC for example: When it is riding high at $300+ a coin the difficulty jumps and profitability tanks. When its low like now, $215 a coin the difficulty adjusts down. My rigs are making $75 less a month at $215 from $315 earlier this month if you just look at the USD value but if you look at the actual coin earnings im earning 0.5-0.7 ZEC more in a month then when it was higher. In the long run you can hodl more coins and realize more profits when the market ticks back up.