Mining , still worth it?

[dimpsk]

I think most will try and sell on eBay or Craigslist.

Basically getting $400 for your GPU is better than mining for 40 cents a day.

They will most likely keep mining until they find a buyer.

I will scoop up any and all 1080 TI rigs that are cheaply priced on ebay. When people are scared that is the time to be bold and when people are exuberant that is the time to be cautious.

It's too simple i afraid. Prices of GPU is still hipe and 1080 ti is not the first choice after all

[QuintLeo]

The level of "this is bad" has reached new levels. I am paying a lot on electricity per kWh and right now I am barely breaking even. ETH is under $400... I am very very close to unplugging...

just breaking even here too if i count my bills , I might actually have to go back to work lol

Things are a bit tight for me, but no worse than 2 summers back right after I moved - though I have a LOT more hardware working to keep me at this level vs what I had then.
Litecoin dropped enough that I shut down the A2 farm - still debating if I want to go ahead and try to sell those machines or keep them for "just in case" I manage to get into a lower-cost area soon enough to matter, *or* pricing kicks back up/diff drops enough to make them profitable again.

Still working on the "reconfiguration" project, which should help a little - just got my first Mark II shelf/rack unit fully populated, now I need to build the second one and redo my airbox setup then I get to start reconfiguring some more.

*THOUGHT* I had a pair of my R9 290 cards go bad this weekend - but one was just a riser flaking out (I have spares) and the other the fan DID go bad but a left-over Delta 80mm 6800 rpm "screamer" from my Athlon(Thunderbird)/Alpha 462 heatsink days is proving to be "barely" enough to keep the card reasonably cool.
It's amazing how QUIET that screamer is compared to the MASS AIRFLOW through the cards though. 8-O

Turns out that while AMDGPU "supports" the R9 290, you have ZERO clock control and I'm not 100% sure the modded BIOS undervolting is working - fan control works though.
I may have to redo that particular machine with Xubuntu 14.04.03 and fglrx instead (mostly a matter of grabbing the HD out of one of the machines the R9 290 cards came OUT of and adding settings for more cards).

The AMDGPU + multi Polaris machine is working reliably now, with some undervolt and underclock via modding one of the driver kernel modules saving a LOT of power.

[QuintLeo]

do you know anything about software? They do not eveb have the hybrid pos they have talking about implementing in testnet

Partly wrong - they DO have part of Casper up and running on testnet, though not the full blown implamentation yet.
Last comment I saw from one of the devs was "2 to 3 months for full "hybrid" implimentation on testnet" but they've been known to miss estimated deadlines a LOT.



POS will not kill ETH, just ETH mining - most INVESTORS could not care less about the difference between POS and POW.

They told the same a year ago. Seems to be Vitalik and other bunch of developers do not have complite imagination what they are they doing and how to  do it.
Secondly, I do not understend now why investors would buy ETH when it becames POS.
And ya can see the same missunderstanding in the prices of ETH which are still fallling into dust and asches

Hint - it's not ETH prices that are dropping, it's CRYPTOCOIN prices that are dropping.
ETH held up BETTER than Bitcoin did 'till the last couple days, compared to it's all-time high - and it's STILL pretty close on a % basis between the two.

[Suslived]

do you know anything about software? They do not eveb have the hybrid pos they have talking about implementing in testnet

Partly wrong - they DO have part of Casper up and running on testnet, though not the full blown implamentation yet.
Last comment I saw from one of the devs was "2 to 3 months for full "hybrid" implimentation on testnet" but they've been known to miss estimated deadlines a LOT.



POS will not kill ETH, just ETH mining - most INVESTORS could not care less about the difference between POS and POW.

They told the same a year ago. Seems to be Vitalik and other bunch of developers do not have complite imagination what they are they doing and how to  do it.
Secondly, I do not understend now why investors would buy ETH when it becames POS.
And ya can see the same missunderstanding in the prices of ETH which are still fallling into dust and asches

Hint - it's not ETH prices that are dropping, it's CRYPTOCOIN prices that are dropping.
ETH held up BETTER than Bitcoin did 'till the last couple days, compared to it's all-time high - and it's STILL pretty close on a % basis between the two.

ETH initially held up better, but now, my faith in ETH has been shaken. Couldn't believe it when i saw it dip down to $350. Must admit i've been rattled by this and my slow and steady long term plan for mining might end sooner if i decide to sell my rig at a loss.

[QuintLeo]

ETH initially held up better, but now, my faith in ETH has been shaken. Couldn't believe it when i saw it dip down to $350. Must admit i've been rattled by this and my slow and steady long term plan for mining might end sooner if i decide to sell my rig at a loss.

I won't be selling my rigs (except perhaps the A2 units), I'm just hoping profitability doesn't slip enough more that I end up having to go back to working some sort of a day job to make ends meet.
There is a big advantage to living in a land of Very Low Cost Electric as a full-time miner....

[Metroid]

There is a big advantage to living in a land of Very Low Cost Electric as a full-time miner....

So what is your rate?

[gwestcot]

There is a big advantage to living in a land of Very Low Cost Electric as a full-time miner....

So what is your rate?

If I remember correctly he is from eastern Washington and I am sure he has electricity rates somewhere in the .03-.04 kw/h.

[dimpsk]

do you know anything about software? They do not eveb have the hybrid pos they have talking about implementing in testnet

Partly wrong - they DO have part of Casper up and running on testnet, though not the full blown implamentation yet.
Last comment I saw from one of the devs was "2 to 3 months for full "hybrid" implimentation on testnet" but they've been known to miss estimated deadlines a LOT.



POS will not kill ETH, just ETH mining - most INVESTORS could not care less about the difference between POS and POW.

They told the same a year ago. Seems to be Vitalik and other bunch of developers do not have complite imagination what they are they doing and how to  do it.
Secondly, I do not understend now why investors would buy ETH when it becames POS.
And ya can see the same missunderstanding in the prices of ETH which are still fallling into dust and asches

Hint - it's not ETH prices that are dropping, it's CRYPTOCOIN prices that are dropping.
ETH held up BETTER than Bitcoin did 'till the last couple days, compared to it's all-time high - and it's STILL pretty close on a % basis between the two.

ETH falls deeper then BTC.  It is obviously.

[dimpsk]

do you know anything about software? They do not eveb have the hybrid pos they have talking about implementing in testnet

Partly wrong - they DO have part of Casper up and running on testnet, though not the full blown implamentation yet.
Last comment I saw from one of the devs was "2 to 3 months for full "hybrid" implimentation on testnet" but they've been known to miss estimated deadlines a LOT.



POS will not kill ETH, just ETH mining - most INVESTORS could not care less about the difference between POS and POW.

They told the same a year ago. Seems to be Vitalik and other bunch of developers do not have complite imagination what they are they doing and how to  do it.
Secondly, I do not understend now why investors would buy ETH when it becames POS.
And ya can see the same missunderstanding in the prices of ETH which are still fallling into dust and asches

Hint - it's not ETH prices that are dropping, it's CRYPTOCOIN prices that are dropping.
ETH held up BETTER than Bitcoin did 'till the last couple days, compared to it's all-time high - and it's STILL pretty close on a % basis between the two.

ETH initially held up better, but now, my faith in ETH has been shaken. Couldn't believe it when i saw it dip down to $350. Must admit i've been rattled by this and my slow and steady long term plan for mining might end sooner if i decide to sell my rig at a loss.

ETH will  go under $300 as I said when it was at $900. No doubts. Where is my merit after all

[gotminer]

Yeah for a minute or two.

[QuintLeo]

There is a big advantage to living in a land of Very Low Cost Electric as a full-time miner....

So what is your rate?

If I remember correctly he is from eastern Washington and I am sure he has electricity rates somewhere in the .03-.04 kw/h.

More central than eastern, and under 4.6c/kwh
Unfortunately I've not found a good location (YET) in the land of Super Cheap Electric in 2 of the adjacent counties.

Upside is rents are cheaper where I'm at, so right now it sorta balances out.

[gwestcot]

There is a big advantage to living in a land of Very Low Cost Electric as a full-time miner....

So what is your rate?

If I remember correctly he is from eastern Washington and I am sure he has electricity rates somewhere in the .03-.04 kw/h.

More central than eastern, and under 4.6c/kwh
Unfortunately I've not found a good location (YET) in the land of Super Cheap Electric in 2 of the adjacent counties.

Upside is rents are cheaper where I'm at, so right now it sorta balances out.

Haha you still got me beat at .08 kw/h but I have the beautiful beaches of Destin, FL 30 minutes away from me. We all make trade offs. Honestly, when the market does finally start looking a little better I am getting into immersion cooling. It saves you so much time, money, effort, and you get more hashes out of your rigs. You would of course have to design a custom case though. I found a way to fit 6x 1080 TI into a 2U slot but that is about the best I could do. 

[Nelly.G0211]

i am pretty that mining is still worth it. of course, the situation now are far from normal, but if you have equipment to mine, it brings you money like it used to do before. but if you are thinking about buying it, you should prepare yourself that it might take a little longer to pay its own way.

[ikicha]

If you build new Rig's now, it is very not worth!
At this price, maybe take up to 24 month to get ROI !

[Metroid]

More central than eastern, and under 4.6c/kwh
Unfortunately I've not found a good location (YET) in the land of Super Cheap Electric in 2 of the adjacent counties.

Upside is rents are cheaper where I'm at, so right now it sorta balances out.

A long, long time ago when I was a miner in 2012, I already knew the place and its benefits. I was about to move to Washington and decided not to, being a trader is much better, I can live anywhere and my returns are better, although I do love the salmon from Seattle and I would have loved staying around there for life.

[gwestcot]

More central than eastern, and under 4.6c/kwh
Unfortunately I've not found a good location (YET) in the land of Super Cheap Electric in 2 of the adjacent counties.

Upside is rents are cheaper where I'm at, so right now it sorta balances out.

A long, long time ago when I was a miner in 2012, I already knew the place and its benefits. I was about to move to Washington and decided not to, being a trader is much better, I can live anywhere and my returns are better, although I do love the salmon from Seattle and I would have loved staying around there for life.

Agreed your upside is higher with trading but also your downside is lower. Mining is for people that are a little more risk averse than you.

[dimpsk]

If you build new Rig's now, it is very not worth!
At this price, maybe take up to 24 month to get ROI !

Oh. 24 monthes to get ROI is a very very good rate I'd say. Now As for my estimation  it's not less then 60 monthes

[dimpsk]

Yeah for a minute or two.

May be yes may be no, we ll see. Thise bearish market can lasts for monthes.

[gwestcot]

If you build new Rig's now, it is very not worth!
At this price, maybe take up to 24 month to get ROI !

Oh. 24 monthes to get ROI is a very very good rate I'd say. Now As for my estimation  it's not less then 60 monthes

As I said prior, I am at about 9 months ROI. You just have to think outside the box and hodling will more often than not help that.

[dimpsk]

If you build new Rig's now, it is very not worth!
At this price, maybe take up to 24 month to get ROI !

Oh. 24 monthes to get ROI is a very very good rate I'd say. Now As for my estimation  it's not less then 60 monthes

As I said prior, I am at about 9 months ROI. You just have to think outside the box and hodling will more often than not help that.

There should be some trick here