If BTC doesn't close this week above $3000 gpu mining is done

[FFI2013]

Since I started mining gpu mining was supposed to die at least 3 times and I stuck through it why because to some of us we aren't here just to turn a profit we do it because we like to and believe in crypto and what it stands for also some people gamble, golf or some other hobby that cost money well I play with my miners

[MarkAz]

It always ebbs and flows - first CPU then GPU, then FPGA, then ASIC, then CPU, then GPU, etc, etc... For all the time I've been mining, everyone always says "This is the end!", but it always seems like right at the last minute, something changes making the economics shift, and you're back in business.  Maybe that happens again, maybe not - the reality is that what's really happening is the less sophisticated or more risky miners are getting flushed from the system, but to my mind, that's how the system has always worked.

I love this thread - there's some interesting perspectives, and fun comments, but in particular I love the fact that there's so many different long term forum members posting their thoughts, instead of just the deluge of single post users asking the same thing.  Just reminds me of the 'good old days' of crypto.

[GarySeven]

A lot of people are mining at loss because of the heat their miners are generating during winter.  It's cheaper for them to run a heater that actually returns some of the cost. 

Exactamente! I love the winter months!

[Piskeante]

BTC miners got REKT the moment BTC went below 4500$.

[antantti]

Speaking about heating during cold months, I have a glassed balcony where I could really use some heating. 16A (240V) breaker there, flat fee for electricity and fibre connection.

But I still can't justify myself why should I spend 369€ for a Vega instead of for example shorting next manipulated weekend pump (yet another ongoing btw). I just can't. No matter how hard I try.

I see people calling bottoms on every small pump saying it just can't go any lower, it has already retraced more than 78.6% or whatever fibonacci retracement. I'm an early adopter of crypto's and I can easily see them tanking even more though I wouldn't be very surprised if current levels hold.

Just an example, after solomining ETH for more than 6 months back in 2015/ 2016 and buying thousands more when the price was at $1 level this currrent $100 still looks like a very generous offer to me. Although I do understand people that bought in during Tether run might feel a bit shocked right now.

What I'm trying to say is that it's way too early to use past performance as a tool when speculating about crypto future, there simply isn't enough data available yet. One thing is sure, blockchain in some shape is going to survive.

I still dream of my balcony getting that miner heating but so far we are not even close. Currently market is priced at about 100 billions but the value is close to zero, that's the first thing that needs to change. All scammy exchanges, ICO's, tokens and 'stablecoins' need to disappear too. People need to understand that if poo is traded against shit and back on some shady Asian exchange the dollar volume is zero. Might be a long wait.

Disclaimer, I still hold some small amounts of XMR, LBC, XCN, RVN and BBR. All mined with AMD/ Nvidia rigs 2014-2018 

[swogerino]

Past performance doesn't guarantee future results is the motto of many trading websites like eToro etc. I can put that motto to good use here and this time I can say that mining will continue for many persons even if bitcoin price go back to just 1 dollar, while many will leave losing trust. There are no third type of persons in the crypto world, you either believe in the future of bitcoin or you don't, 3000 dollars doesn't mean anything.

I was offered 8 Rx 580 in a local shop here in which they all had blue screen of death during gaming, but no problems during mining, after testing for 2 days, I bought them all for 640 Euros and it is almost as it is 100 dollars for a piece. They are going well in mining, and I am mining at a loss because of high electricity cost but I do this because I believe in the future of bitcoin.

[leowonderful]

Past performance doesn't guarantee future results is the motto of many trading websites like eToro etc. I can put that motto to good use here and this time I can say that mining will continue for many persons even if bitcoin price go back to just 1 dollar, while many will leave losing trust. There are no third type of persons in the crypto world, you either believe in the future of bitcoin or you don't, 3000 dollars doesn't mean anything.

I was offered 8 Rx 580 in a local shop here in which they all had blue screen of death during gaming, but no problems during mining, after testing for 2 days, I bought them all for 640 Euros and it is almost as it is 100 dollars for a piece. They are going well in mining, and I am mining at a loss because of high electricity cost but I do this because I believe in the future of bitcoin.

How can you support the future of Bitcoin if you're mining alts with GPUs, and also at a loss (I assume you're exchanging alts to BTC)? €80 per card isn't a bad price for 580s, but flipping the cards for some profit and putting the money directly into BTC or even directly buying BTC could've been a better option than mining at a loss, unless you're also utilizing the heat from the cards and thus offsetting some of the electrical usage. I know some people don't want to go through the hassle of KYC and all, but you're still acquiring coins for cheaper than mining at a loss by buying coins through an exchange.

[adaseb]

Past performance doesn't guarantee future results is the motto of many trading websites like eToro etc. I can put that motto to good use here and this time I can say that mining will continue for many persons even if bitcoin price go back to just 1 dollar, while many will leave losing trust. There are no third type of persons in the crypto world, you either believe in the future of bitcoin or you don't, 3000 dollars doesn't mean anything.

I was offered 8 Rx 580 in a local shop here in which they all had blue screen of death during gaming, but no problems during mining, after testing for 2 days, I bought them all for 640 Euros and it is almost as it is 100 dollars for a piece. They are going well in mining, and I am mining at a loss because of high electricity cost but I do this because I believe in the future of bitcoin.

I've actually had this blue screen of dead during gaming before. It means your solder balls are starting to crack and it will get worse and worse overtime after every restart.

The reason why you get BSOD during gaming is because the gaming is more intense and heats up the GPU much quicker than mining. With mining the GPU heats up slower, so the solder balls expand and fill the cracks and the GPU works fine.

As long as you leave the GPU mining forever without shutting it down, it won't deteriorate. But with every cold reboot, the cracks will get larger and larger and pretty soon it will start freezing your mining also.

Since its a 580, it should have warranty so get it RMA'd instead.

[Metroid]

The market at moment seems to be going up, I wonder if the manipulators who were selling to crash everything started buying back. They thought this time would be like last time, $200 btc lasted six months, they thought $3000 btc would last long too and as far as the market is at moment shows they were wrong. We will see how things will go till 31st december, if btc does not crash again then we will see 10k fast and from there a 50k btc mark might be the target for 2019 and 100k 2020 and then a crash to 20k on 2021 hehe.

[DrG]

For those of us who lived through 2013 to see the massive pump and dump of alts in 2014 - this is almost like a repeat. Different causes but same result. I still see Eth going back to $17 (depending on how the next fork updates), don't know where BTC will drop to.