lol so many newbs flooding the forum asking same questions

[Marvell1]

Seems like everyone and thier mama is trying to build
a rig to mine ether 😃😃 Kinda feel bad for these late commers even the ones with
deep pockets , If they had jumped on board say three to six months ago they would be
in way better shape now with cards hard to find difficulty rising like crazy creating a few rigs
to hedge is not a terrible idea but you have a  better chance to make money buy buying into
the eth based icos or buying related tokens low selling high on the pump and dump waves.

all my 45 rigs are paid for so mining and expanding is trivial for me , i have around 50 cards i bought back when the rx 500s launched that i dont even have the electricity to power that i listed on ebay for $580 a card and they are SELLING 😂😂

the current state of this forum is hillarious to me.  I made 30k on the augur Ico, 10k on waves
sold both way way too low , learned from my mistakes I hope all these newbs dont get burned

[1714796392]

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[DD47]

The reason that I am getting into it is because I saw an article about the price of bitcoin - as I'm sure many newbies did.
I remembered that I had a small amount of bitcoin in a coinbase account that I created about a year and half ago.  I logged in and saw that my balance was about 6 times the original amount.

I recently quit my job and am looking for some passive income.  This will not be my only income - just supplemental.
The money I'm putting into my rigs is all from two real estate sales profits from earlier this year.

I'm going to build 6 rigs.  I'm considering selling 2 or 3 of them to reduce my cash invested and mine various coins and let them just accumulate. 

I don't believe it's too late to start.  There are over 700 currencies, so there is opportunity.

I do wish I had started back when you did, but circumstance back then wouldn't allow the investment.

Congrats to you on your success.

[Marvell1]

The reason that I am getting into it is because I saw an article about the price of bitcoin - as I'm sure many newbies did.
I remembered that I had a small amount of bitcoin in a coinbase account that I created about a year and half ago.  I logged in and saw that my balance was about 6 times the original amount.

I recently quit my job and am looking for some passive income.  This will not be my only income - just supplemental.
The money I'm putting into my rigs is all from two real estate sales profits from earlier this year.

I'm going to build 6 rigs.  I'm considering selling 2 or 3 of them to reduce my cash invested and mine various coins and let them just accumulate. 

I don't believe it's too late to start.  There are over 700 currencies, so there is opportunity.

I do wish I had started back when you did, but circumstance back then wouldn't allow the investment.

Congrats to you on your success.

Im not succesful just have a small farm suplementing my income

all im saying is mining is like maybe 1/3 of the way to make money in this crypto boom

you need to suplement this with trading investing in Icos buying low selling high or just holding some of

the good assets.  I make more from Ico,s and trading selling on paxful for 20 percent profit than i make mining

not saying its too late , but mining should be only one of your focuses , the main issue right now

for new miners is the rising price of cards and hardware and flat out dissapearance of Rx cards.

I feel likw even if the scarcity ends (which i doubt for a few months) prices will remain high which benefit large farms

who source in bulk and those who have already roied

[slackert]

Everyone was a noob at one time. I initially looked into mining BTC early last year but decided it was not worth it. Took me many months later to discover alt coins and a much bigger picture in the cryptospace. I look at mining as a way to supplement my bi-weekly coin purchases. Really looking to mine and hold.......Profit taking should come much later. If the price stays consistent (not likely) or goes up, mining is profitable. If it all comes crashing down I buy more coins......rinse and repeat.

[thesmokingman]

bub·ble
ˈbəb(ə)l/noun

2.used to refer to a good or fortunate situation that is isolated from reality or unlikely to last.
"we both lived in a bubble, the kind provided by occupying a privileged pied-à-terre in Greenwich Village"

I'm in the same boat as you Marvel1, but trading vs adding to my farm as I'm waiting for the pop so I can buy up the cheap gpu's from those needing to pay off credit card bills; bank loans; rent for warehouse space they can no longer but locked into a lease; paying back their 401(k); payment on the 2nd mortgage they took out on their home.....

can't believe what people are risking hoping the price stays high....

[Marvell1]

Everyone was a noob at one time. I initially looked into mining BTC early last year but decided it was not worth it. Took me many months later to discover alt coins and a much bigger picture in the cryptospace. I look at mining as a way to supplement my bi-weekly coin purchases. Really looking to mine and hold.......Profit taking should come much later. If the price stays consistent (not likely) or goes up, mining is profitable. If it all comes crashing down I buy more coins......rinse and repeat.

^
This mine and hold at least 2/3 if you can , at the very least keep half, lol Im not knocking newbies its the timing im knocking Im sure alot of ppl were just lurkers out here never thought about mining prices have been good for over a year now and it took eth to $300 for most of these new miners get interested

[Metroid]

This reminds me of the gold rush, many died out there and many will die out here hehe

[Marvell1]

bub·ble
ˈbəb(ə)l/noun

2.used to refer to a good or fortunate situation that is isolated from reality or unlikely to last.
"we both lived in a bubble, the kind provided by occupying a privileged pied-à-terre in Greenwich Village"

I'm in the same boat as you Marvel1, but trading vs adding to my farm as I'm waiting for the pop so I can buy up the cheap gpu's from those needing to pay off credit card bills; bank loans; rent for warehouse space they can no longer but locked into a lease; paying back their 401(k); payment on the 2nd mortgage they took out on their home.....

can't believe what people are risking hoping the price stays high....

yup exactly im actually selling gpus rather than buying, also sold 3 baiikal asics for 2900 after paying only 900 for them.  

Ppl i know are taking out loans or mortgaging cribs or lines of credit to mine rather than buying cheap couns or icos is crazy to spend so much on mining rigs when video card prices are so inflated, make a stack off icos. or trading , understand the value of the assets you are actuslly mining instead of blindly going all in

[Marvell1]

This reminds me of the gold rush, many died out there and many will die out here hehe

I think its good to mine dont get me wrong but dont pay $500 for a 580 for gods sake lol

[adaseb]

Been here since 2013. This GPU was like $1000. Mined BTC, then LTC, then X11, and now even ETH.

Cost $1000 and probably ROI'd multiple times. Ran at 90C for 4 years non-stop. Not a single fault and fan is still running strong.

Basically you got to get in early. Like those who mined 50BTC blocks with their Celeron CPUs in 2009.

[Vann]

Been here since 2013. This GPU was like $1000. Mined BTC, then LTC, then X11, and now even ETH.

Cost $1000 and probably ROI'd multiple times. Ran at 90C for 4 years non-stop. Not a single fault and fan is still running strong.

Basically you got to get in early. Like those who mined 50BTC blocks with their Celeron CPUs in 2009.

And those with rigs now will be ready for the next coin once they are paid off in 60-90 days

[wheelz1200]

I think mining is great for the echosystem, just like spending btc and not hoarding.  Yeah you should hold some but if all people hold and nobody uses, or if no one mines cause its more profitable to trade then it will be a bad thing.  I mine to be part of the "echosystem", its educational and makes me keep up with what is going on.  Although the money you "can" make from it is nice too.  Either way i always encourage people to mine just dont mortgage a house or your retirement funds to do so thats just plain dumb.

[poby]

Seems like everyone and thier mama is trying to build
a rig to mine ether 😃😃 Kinda feel bad for these late commers even the ones with
deep pockets , If they had jumped on board say three to six months ago they would be
in way better shape now with cards hard to find difficulty rising like crazy creating a few rigs
to hedge is not a terrible idea but you have a  better chance to make money buy buying into
the eth based icos or buying related tokens low selling high on the pump and dump waves.

all my 45 rigs are paid for so mining and expanding is trivial for me , i have around 50 cards i bought back when the rx 500s launched that i dont even have the electricity to power that i listed on ebay for $580 a card and they are SELLING 😂😂

the current state of this forum is hillarious to me.  I made 30k on the augur Ico, 10k on waves
sold both way way too low , learned from my mistakes I hope all these newbs dont get burned

Totally agree with this.  Speaking as one of the newbies, I don't know if I will make enough to pay for the parts as I fully expect GPU mining to become unprofitable for everyone paying more than 10 cents a kwh by the end of the year.  That would be fine actually but it might not even last another 2 or 3 months.

Too many people jumping in without understanding the current boom times will definitely not last for long.

It's purely a hobby for me as my electricity costs are closer to 20c / kwh. 

[Marvell1]

Seems like everyone and thier mama is trying to build
a rig to mine ether 😃😃 Kinda feel bad for these late commers even the ones with
deep pockets , If they had jumped on board say three to six months ago they would be
in way better shape now with cards hard to find difficulty rising like crazy creating a few rigs
to hedge is not a terrible idea but you have a  better chance to make money buy buying into
the eth based icos or buying related tokens low selling high on the pump and dump waves.

all my 45 rigs are paid for so mining and expanding is trivial for me , i have around 50 cards i bought back when the rx 500s launched that i dont even have the electricity to power that i listed on ebay for $580 a card and they are SELLING 😂😂

the current state of this forum is hillarious to me.  I made 30k on the augur Ico, 10k on waves
sold both way way too low , learned from my mistakes I hope all these newbs dont get burned

Totally agree with this.  Speaking as one of the newbies, I don't know if I will make enough to pay for the parts as I fully expect GPU mining to become unprofitable for everyone paying more than 10 cents a kwh by the end of the year.  That would be fine actually but it might not even last another 2 or 3 months.

Too many people jumping in without understanding the current boom times will definitely not last for long.

It's purely a hobby for me as my electricity costs are closer to 20c / kwh. 

Its far more than a hoby for me my power isnt cheap .09 cents /kwh

but i got my gpus at half the price they are selling
 for now , changes the eqation alot

No way id pay more that $280 forcan rx card let alone $550 , it might pay off but

that $$ would go a long way to building a stack of crypto worth more than any rig

[Tmdz]

Been here since 2013. This GPU was like $1000. Mined BTC, then LTC, then X11, and now even ETH.

Cost $1000 and probably ROI'd multiple times. Ran at 90C for 4 years non-stop. Not a single fault and fan is still running strong.

Basically you got to get in early. Like those who mined 50BTC blocks with their Celeron CPUs in 2009.

I bought refurb r9 290 reference cards over a year ago from newegg back when i got into ether mining, still have a few of them left today.  Payed $180 for them back then and today after electricity they pump out solid $160/month in profit currently.  Once I get some rx 570 in i'll sell these off to some desperate folks for around $250, crazy huh.

It is all about timing and patience in this field.

[puwaha]

Seems like everyone and thier mama is trying to build
a rig to mine ether 😃😃 Kinda feel bad for these late commers even the ones with
deep pockets , If they had jumped on board say three to six months ago they would be
in way better shape now with cards hard to find difficulty rising like crazy creating a few rigs
to hedge is not a terrible idea but you have a  better chance to make money buy buying into
the eth based icos or buying related tokens low selling high on the pump and dump waves.

This is easily the best run-on sentence to describe the first half of 2017. 

[morantis]

Been here since 2013. This GPU was like $1000. Mined BTC, then LTC, then X11, and now even ETH.

Cost $1000 and probably ROI'd multiple times. Ran at 90C for 4 years non-stop. Not a single fault and fan is still running strong.

Basically you got to get in early. Like those who mined 50BTC blocks with their Celeron CPUs in 2009.

I bought refurb r9 290 reference cards over a year ago from newegg back when i got into ether mining, still have a few of them left today.  Payed $180 for them back then and today after electricity they pump out solid $160/month in profit currently.  Once I get some rx 570 in i'll sell these off to some desperate folks for around $250, crazy huh.

It is all about timing and patience in this field.

it is funny, i dropped two nvidia high end cards in a computer that we grabbed at a pawn shop.  the pc was not old, but only had 8 gb of ram and ran out about 3.8 dual core.  the cards themselves actually behaved and performed better than the pc.  it was built low profile and did not have squat for cooling, one small fan and another on the heatsink.  we finally removed the motherboard from the chassis and ran it wide open on a table for more air flow. 
the pc was designed to sound impressive on the outside to most people and was not built to last.  so far, the open air process has helped, but that is not the best way for a pc to run, lol.

[deadsix]

Makes me cry looking at all the Eth Ive mined and sold since I started a year ago  
Makes me cry even more when I remember all those comments telling me to just buy and hold Eth instead of spending on mining  

[un4given]

Makes me cry looking at all the Eth Ive mined and sold since I started a year ago  
Makes me cry even more when I remember all those comments telling me to just buy and hold Eth instead of spending on mining  

i feel you... same here...sold 100 eth @ 40$, but let's learn from it? selling 1/3 to cover the cost and holding 2/3

[Marvell1]

Makes me cry looking at all the Eth Ive mined and sold since I started a year ago  
Makes me cry even more when I remember all those comments telling me to just buy and hold Eth instead of spending on mining  

i feel you... same here...sold 100 eth @ 40$, but let's learn from it? selling 1/3 to cover the cost and holding 2/3

lol i sold over 10k eth at low ass prices makes me sick everytime i think of it.  Thats why i spend more time trading now

theres more money made playing the markets than mining and dumping from the way prices fluctuate