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Author Topic: Today I turned off all the miners I manage  (Read 679 times)
stomachgrowls
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October 20, 2018, 04:09:20 PM
 #21

I manage a few miners for some of my colleagues and they all told me and insisted that their miners to be turned off. Here where we are electricity is on the high side being roughly 0.11 cent/kwatt for businesses and a bit higher for personal use. We were barely getting to be even with Rx 570 and Rx 580 series so all 20 mining rigs are turned off for the moment.

What are you guys doing with yours ?
I already stopped mining when it didnt already generate me some profits. Difficulty + Electricity cost then these are the factors that will really be in concern.
You wont really have any choice but to stop mine but if you can able to sustain or willing to pay up expenses of the energy used to mine out a specific coin then it would be still your choice.
I have already sold out some GPU's to some gamer friends atleast i can break even with the capital.


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5thFear
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October 20, 2018, 05:18:09 PM
 #22

So mining is no more profitable anymore ? i mean if mining is not profitable then how is this field gonna survive. Mining keeps track of the ledger system of the cryptos i-e the blockchain, but if everyone does that, then what will happen ?

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October 20, 2018, 05:40:42 PM
 #23

i turned them off like 3 months ago. I thank god everyday that i did that.

I also turned mine off 3 months ago.  Now having it cleaned and rebuilt for a brighter Q1 2019.  Grin
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October 20, 2018, 07:53:48 PM
 #24

mining is still profitable - yet not that sort it was a year ago, but still profit.

anyone having a rig, which already paid for itself and reasonable price for electricity has little reason to turn it off. In our case, we pay ~0.14ct/kwh for our testrigs in our office and those rigs making 130-150% of electricity daily (means we earn 50% more than what we pay for mining electricity). For us it literally pays for the additional electricity (+basic charge) we use in the office environment and still have a little extra for coffee and such stuff.

So - given, the rigs already paid itself - they do earn money. Not enough for a lambo but at least they can cover other costs of your daily life. Using a proper software you don't even move a finger for that, beside exchanging to fiat for paying electricity.

Buying new rigs? Hard to judge. But still a better investment than photovoltaic for example (which needs much longer to hit ROI - but with less risk)

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October 20, 2018, 08:22:45 PM
 #25

mining is still profitable - yet not that sort it was a year ago, but still profit.

anyone having a rig, which already paid for itself and reasonable price for electricity has little reason to turn it off. In our case, we pay ~0.14ct/kwh for our testrigs in our office and those rigs making 130-150% of electricity daily (means we earn 50% more than what we pay for mining electricity). For us it literally pays for the additional electricity (+basic charge) we use in the office environment and still have a little extra for coffee and such stuff.

So - given, the rigs already paid itself - they do earn money. Not enough for a lambo but at least they can cover other costs of your daily life. Using a proper software you don't even move a finger for that, beside exchanging to fiat for paying electricity.

Buying new rigs? Hard to judge. But still a better investment than photovoltaic for example (which needs much longer to hit ROI - but with less risk)

The rigs have paid back for themselves thankfully but what my colleagues did is that they have left a lot of cryptos untouched and they do not want to sell now and are waiting for a better time. I told them that what they are doing seems just about right so we are waiting together.

My small home rig I have it on mining X16R algorithm as it is the one giving me the better results compared to any other algorithm with Nvidia cards.

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October 20, 2018, 09:12:15 PM
 #26

I turned off my rig two months ago. They are not profitable at the moment and i also doubt that it will in the future. So my next step is to sell the GPU´s while they retain some value.
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October 20, 2018, 09:35:18 PM
 #27

My small home rig I have it on mining X16R algorithm as it is the one giving me the better results compared to any other algorithm with Nvidia cards.

As we do automatic profit switching, we've seen x16r, phi2 and lyra2z mainly over the past weeks, so you're on the right path with x16r. You may try TRex miner, it gave us good results in our software with x16r

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October 20, 2018, 09:52:34 PM
 #28

is there any plans for new profitable asic miners in the Q1 of 2019 ? Does asic mining is dead Sad


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October 20, 2018, 11:22:24 PM
 #29

is there any plans for new profitable asic miners in the Q1 of 2019 ? Does asic mining is dead Sad

Right now until the bear market comes to an end there will be nothing profitable in the near future.

Whether its GPU, CPU, ASIC or FGPA. Currently many alts are at 80-90% lows from the ATH and its basically very difficult to make any money off anything.

Basically unless you run a casino or an exchange there is little money to be made in crypto at the moment. Even the BTC bears are having a hard time making any money since the market is not going down or going up, it just trades sideways.

Lets hope 2019 will be a better year for all.

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October 21, 2018, 04:25:57 AM
 #30

I sold all my equipment last month. I loved mining, it was a lot of fun and a big boost to crypto. I was glad to be a part of it. But it needs to change. It’s a waste of resource to make and power all these systems. I never felt right about it. I feel so much better now that I’m out.

Rest assured, when the markets tank crypto will soar. I just hope mining has transformed by then.
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October 21, 2018, 09:38:31 AM
 #31

costs me about $12 to mine about 0.1-0.12 eth per day

all my miners are still on
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