Good plan or bad plan

[FloridaKid]

Does it make any sense to wait for bear market to start building mining rigs instead? I know profits will be very very low but I'm running on free electricity which is green energy so I don't pay for electricity bill and another advantage that I think I would get here is getting the cards for cheap price

[iRonNuke]

Good plan, ofcourse. Now the prices are extremely high on hardware, the difficulty on the blockchains are high. You are getting very low amount of coins now, the only thing it's very profitable is because the bull market.

When you have free electicity you can mine when there's a loss for others, buy GPUs when in next bear market I say. Buy cheap RTX or RX cards when everyone is quiting

[Bravehash]

Since you are willing to wait till next bear market it's better to invest in some altcoins right now to take advantage of the bullish market we are in right now and make some money, also you have to be crypto mining fan to want to build rigs in bear market if not it's not worth it in a short run

[FP91G]

Does it make any sense to wait for bear market to start building mining rigs instead? I know profits will be very very low but I'm running on free electricity which is green energy so I don't pay for electricity bill and another advantage that I think I would get here is getting the cards for cheap price

Try to build a farm with inexpensive components. If you have free electricity, then you can purchase AMD R390, which consume a lot of electricity, but give a result of 28-30 megahesh.
Or look for other inexpensive graphics cards that you can quickly sell on the secondary market if prices drop.
For example RX470 4 GB pays off in 5 months on free electricity.

[badbart]

I built half my farm with 5700s when they first came out making 70 cents a day per card.  Only time I paid over msrp is when I have to replace cards.  Whith this bull market I don't do much except make sure eveything is running.  Bear markets is when I make my moves, with mining and investing.

I love it when crypto is dead and will never come back but on the flip side when people are predicting 500k btc I get very cautious.

[adaseb]

Does it make any sense to wait for bear market to start building mining rigs instead? I know profits will be very very low but I'm running on free electricity which is green energy so I don't pay for electricity bill and another advantage that I think I would get here is getting the cards for cheap price

Try to build a farm with inexpensive components. If you have free electricity, then you can purchase AMD R390, which consume a lot of electricity, but give a result of 28-30 megahesh.
Or look for other inexpensive graphics cards that you can quickly sell on the secondary market if prices drop.
For example RX470 4 GB pays off in 5 months on free electricity.

Those GPUs are still overpriced, at least in my area. Even the RX 470 4GB are overpriced right now. I sold a bunch of these throughout the years at $80-100USD and now they are $150-$200 USD. The R9 390 is a rare GPU and commands a pretty high premium, gamers seem to love them.

The 4GB only mines at a fast speed if you keep it in the x16 slot in the motherboard. So you are limited to 1 GPU per motherboard. Doesn't make sense to have too many of those. Hence not worth buying them at $200.

There really aren't any decent deals out there. Even the R9 280X is getting pricy and those are like 8 year old GPUs.

[Synerggy]

The bull season might be over sooner than many expected, I suggest you think twice before thinking about building any mining rig this time around, if I were you I'd rather wait for the bear season to start and GPU price to settle down before building anything, if you buy now you won't make your ROI back since you buying at very high price

[Bitbtc8]

It's a bad plan because it's going to take you months to get your ROI back, we are in april already and I don't believe that ETH mining will remain profitable as it is today after the eip1559, even if that's not coming up in July we don't know when bullrun will be over, don't do it

[FP91G]

Does it make any sense to wait for bear market to start building mining rigs instead? I know profits will be very very low but I'm running on free electricity which is green energy so I don't pay for electricity bill and another advantage that I think I would get here is getting the cards for cheap price

Try to build a farm with inexpensive components. If you have free electricity, then you can purchase AMD R390, which consume a lot of electricity, but give a result of 28-30 megahesh.
Or look for other inexpensive graphics cards that you can quickly sell on the secondary market if prices drop.
For example RX470 4 GB pays off in 5 months on free electricity.

Those GPUs are still overpriced, at least in my area. Even the RX 470 4GB are overpriced right now. I sold a bunch of these throughout the years at $80-100USD and now they are $150-$200 USD. The R9 390 is a rare GPU and commands a pretty high premium, gamers seem to love them.

The 4GB only mines at a fast speed if you keep it in the x16 slot in the motherboard. So you are limited to 1 GPU per motherboard. Doesn't make sense to have too many of those. Hence not worth buying them at $200.

There really aren't any decent deals out there. Even the R9 280X is getting pricy and those are like 8 year old GPUs.

AMD R390 is not the best graphics card for gamers.
And for mining, it is quite a good solution on free electricity. The RX 470 won't cost less than $ 100.
They are profitable to buy and can be quickly sold on the secondary market.
Buying RTX 30X0 or AMD 5X00 or 6X00 is not a good decision now. Ethereum developers promised to speed up the algorithm change.

[Skinny48]

Does it make any sense to wait for bear market to start building mining rigs instead? I know profits will be very very low but I'm running on free electricity which is green energy so I don't pay for electricity bill and another advantage that I think I would get here is getting the cards for cheap price

Try to build a farm with inexpensive components. If you have free electricity, then you can purchase AMD R390, which consume a lot of electricity, but give a result of 28-30 megahesh.
Or look for other inexpensive graphics cards that you can quickly sell on the secondary market if prices drop.
For example RX470 4 GB pays off in 5 months on free electricity.

Those GPUs are still overpriced, at least in my area. Even the RX 470 4GB are overpriced right now. I sold a bunch of these throughout the years at $80-100USD and now they are $150-$200 USD. The R9 390 is a rare GPU and commands a pretty high premium, gamers seem to love them.

The 4GB only mines at a fast speed if you keep it in the x16 slot in the motherboard. So you are limited to 1 GPU per motherboard. Doesn't make sense to have too many of those. Hence not worth buying them at $200.

There really aren't any decent deals out there. Even the R9 280X is getting pricy and those are like 8 year old GPUs.

AMD R390 is not the best graphics card for gamers.
And for mining, it is quite a good solution on free electricity. The RX 470 won't cost less than $ 100.
They are profitable to buy and can be quickly sold on the secondary market.
Buying RTX 30X0 or AMD 5X00 or 6X00 is not a good decision now. Ethereum developers promised to speed up the algorithm change.

Hi FP91G I don't quit understand what you mean by Ethereum developers promised to speed up the algorithm change, are you saying the EIP1559 is no more scheduled for july anymore? Or you are talking about something else entirely?

[Commie]

Does it make any sense to wait for bear market to start building mining rigs instead? I know profits will be very very low but I'm running on free electricity which is green energy so I don't pay for electricity bill and another advantage that I think I would get here is getting the cards for cheap price

Absence of graphics cards in the market isn't only due to high demand from miners, there's also a global chip shortage for reasons totally unrelated to mining. Bear market can start any moment but I don't think there will be a steady supply of *new* cards until 2022. You have to take that into consideration  too when making decisions.

[Ceyflix-Rez]

Does it make any sense to wait for bear market to start building mining rigs instead? I know profits will be very very low but I'm running on free electricity which is green energy so I don't pay for electricity bill and another advantage that I think I would get here is getting the cards for cheap price

Absence of graphics cards in the market isn't only due to high demand from miners, there's also a global chip shortage for reasons totally unrelated to mining. Bear market can start any moment but I don't think there will be a steady supply of *new* cards until 2022. You have to take that into consideration  too when making decisions.

Still it doesn't make sense to build rigs right now because

1. Bear market can start sooner than expected
2. GPUs are too overpriced
I think waiting for bear market is still the best strategy here, the time to jump in and start mining is almost over

[adaseb]

They are profitable to buy and can be quickly sold on the secondary market.

I had a bunch of the Rx 470 4GB gpus from 2016. And sometime at the end of 2018, i started to sell them because it wasn't profitable anymore. And let me tell you they are very difficult to sell. They can't be sold quickly on the second hand market.

I remember I would make a local ad on Craiglist and it took maybe 2 months to sell a single GPU. Most of the responds were people who were lowballing you. I got alot of messages like "I know you mined with this GPU, I will give you $30 CASH, pickup today!".

A few months back everything changed. You could make a craiglist ad and it would sell in 1 hour. However after the pandemic ends and the chips are back in production, nobody is going to be buying these RX GPUs. For some reason gamers only prefer Nvidia.

[Commie]

They are profitable to buy and can be quickly sold on the secondary market.

I had a bunch of the Rx 470 4GB gpus from 2016. And sometime at the end of 2018, i started to sell them because it wasn't profitable anymore. And let me tell you they are very difficult to sell. They can't be sold quickly on the second hand market.

I remember I would make a local ad on Craiglist and it took maybe 2 months to sell a single GPU. Most of the responds were people who were lowballing you. I got alot of messages like "I know you mined with this GPU, I will give you $30 CASH, pickup today!".

A few months back everything changed. You could make a craiglist ad and it would sell in 1 hour. However after the pandemic ends and the chips are back in production, nobody is going to be buying these RX GPUs. For some reason gamers only prefer Nvidia.

Same story with my 1080Ti's LOL. They were mining since 2017 and when I started selling them one by one couple of months ago ads usually lasted no longer than a couple of hours.

[arielbit]

Does it make any sense to wait for bear market to start building mining rigs instead? I know profits will be very very low but I'm running on free electricity which is green energy so I don't pay for electricity bill and another advantage that I think I would get here is getting the cards for cheap price

it is good to start now because you have free electricity, but gpu prices is fucked up right now...you do the math since prices are different around the world, you might get some good deals.

[Gorosden]

Does it make any sense to wait for bear market to start building mining rigs instead? I know profits will be very very low but I'm running on free electricity which is green energy so I don't pay for electricity bill and another advantage that I think I would get here is getting the cards for cheap price

it is good to start now because you have free electricity, but gpu prices is fucked up right now...you do the math since prices are different around the world, you might get some good deals.

Free electricity but overpriced equipments doesn't change anything much, the only thing free electricity do better is when mining is no longer profitable again you won't have to worry about the bills, still I believe there is nothing better than buying gpus at reasonable price