Keep mining or buying?

[chrusso]

Hi everyone,

During the last days I've been mining ETH with 60 Radeon Rx580 cards. But the difficulty has been increasing, at the same time that the ETH prices have been going down.

So, at this point I'm wondering if there's any other coin that could be mined with the same cards and better results, whattomine.com keeps showing ETH as the best option, and personally I don't know any other service alike to see if there's any other option.

Do you believe it would be better to buy ETH directly instead of mining?
Is there any chance that the difficulty/reward changes for better in the future?
What would you advice?

Have a good weekend!
Chris

[Dtrucksguitarfan]

60 cards is quite an investment that you've made.

As I see it, there are two types of miners. 

TYPE 1:  Mines coins based not on what the coin is worth currently, but mines coins based on the change that coin may increase in value at a later time.
TYPE 2: Mines the most profitable coin at that time.

It sounds like you are a type 2 miner.

Based on that, I might consider beginning to sell off some cards and here's why
1. Nvidia will release new cards this year.  I expect the next generation of Nvidia cards to be better at mining ETH than they are now.  AMD is supreme in the ETH mining market, this is why I think Nvidia will seek to make improvements there.  If you are going to continue to mine ETH, I might consider starting to sell some cards off now slowly.  Get some liquid fiat to buy the next gen cards.
2. if you believe #1, then you should also think AMD cards will drop in value after the new Nvidia releases.

Your other option is to begin mining other coins.  Most coins RIGHT NOW wont make you as much daily income as ETH.  However, some of those coins may make you MORE than mining ETH - IF you mind and HODL.   

If you can mine and HODL , there are many opportunities out there.  I've always felt this is where the real mining profits are. However, if you must spend your mining profits monthly, this wont work for you.

[chrusso]

Dear Dtrucksguitarfan,

Thanks a lot for your advice. Indeed, I've been thinking about selling a few of them.

In the other hand, is there any coin that you would recommend to mine for holding? Which coins would you suggest to look at?

Finally, what would be the difference between mining these coins, vs buying them directly as a long term investment?

Kind regards;
Chris

[BiteByte]

Hey Mate

I only have 2 rigs so not comparable with your hawl of vid cards.
Just wondering if you try mine for Type 1 for a while, or point some of your rigs that way.

Not sure if you have heard about the following...
If you take a look at Ravencoin and mine now in the early stages as it only started in Jan you could end up with a big bag for the future.
Remembering the Bitcoin beginnings
Mining Calc: http://ravencalc.xyz/

More details:

https://bitcointalk.org/index.php?topic=2752467.0
https://raven.wiki/wiki/RavenCoin_Wiki …
https://raven.wiki/wiki/Mining
https://raven.wiki/wiki/FAQ


Overstock Interest:
https://crypto-lines.com/2018/02/24/cryptos-ravencoin/amp/?__twitter_impression=true

Dev Meetup
https://www.twitch.tv/videos/229759246

[Suslived]

60 cards is quite an investment that you've made.

As I see it, there are two types of miners. 

TYPE 1:  Mines coins based not on what the coin is worth currently, but mines coins based on the change that coin may increase in value at a later time.
TYPE 2: Mines the most profitable coin at that time.

It sounds like you are a type 2 miner.

Based on that, I might consider beginning to sell off some cards and here's why
1. Nvidia will release new cards this year.  I expect the next generation of Nvidia cards to be better at mining ETH than they are now.  AMD is supreme in the ETH mining market, this is why I think Nvidia will seek to make improvements there.  If you are going to continue to mine ETH, I might consider starting to sell some cards off now slowly.  Get some liquid fiat to buy the next gen cards.
2. if you believe #1, then you should also think AMD cards will drop in value after the new Nvidia releases.

Your other option is to begin mining other coins.  Most coins RIGHT NOW wont make you as much daily income as ETH.  However, some of those coins may make you MORE than mining ETH - IF you mind and HODL.   

If you can mine and HODL , there are many opportunities out there.  I've always felt this is where the real mining profits are. However, if you must spend your mining profits monthly, this wont work for you.

Excellent analysis. I'd give you merits if i had some.

Just to add, selling off some GPUs now is truly a wise decision because it's value will surely decrease once a new generation of GPUs are released.

[edwardceng]

Something difficult when coins predictions because of the price a coin is changeable and also network and diff an ETH rising. I'm not sure buying ETH although priced ETH down and that's better for future.Personally,  I always do save a bit ETH every payout and in part, I am selling for the payment electricity bill.

[ivakar]

The situation is very difficult now on the market
if I had so huge numbers of card, I would continue to mine ETH, cause I have faith it will be much higher then now and have a lot potential..  or you can try to mine some crytonight coins, with a future pump plan.. I mean mine it now and sell it later for the higher price..

[szafa]

No there is other coin with radeon that give the same result as eth.

[Marvell2]

If your cards arve even close to paid off , selling is dumb,

the next gen of nvidia cards with be more expensive than even the current gen
and the rx580 will still be the top of ita class amd card for at least another year

keep your cards mine at leadt another year

[Jaycee99]

Hi everyone,

During the last days I've been mining ETH with 60 Radeon Rx580 cards. But the difficulty has been increasing, at the same time that the ETH prices have been going down.

So, at this point I'm wondering if there's any other coin that could be mined with the same cards and better results, whattomine.com keeps showing ETH as the best option, and personally I don't know any other service alike to see if there's any other option.

Do you believe it would be better to buy ETH directly instead of mining?
Is there any chance that the difficulty/reward changes for better in the future?
What would you advice?

Have a good weekend!
Chris

Buying ethereum and bitcoin is much better because it market value increase its a win win price instead of mining. But wait there more if you join signature campaigns you would earn ASAPA with out waiting electric bills (STILL YOU CAN STILL EARN BUT I DO STILL PREPARED BOUNTY CAMPAIGNS)

In signature campaigns you could earn 600 to 1000 USD in 2 months depends on signature campaign and only if you are in the rank of full member and onwards.


Tips

If your mining bitcoin and ethereum you wont earn more and much as of today bitcoin market value is 9,657.42 USD so as guesing butcoin wil increase, possibly increase as we speak or more specific to say as I type.

I cant explain this why but believe me if bitcoin or ethereum market value decrease miners well not earn a lot here the process of mining. When bitcoin market value increases than its the time the miners earn normal and a little bit more than before.

[p337miner]

Hi everyone,

Do you believe it would be better to buy ETH directly instead of mining?
Is there any chance that the difficulty/reward changes for better in the future?
What would you advice?

Keep mining profit per day is always better long term!
I don't think another difficulty adjustment will happen, but PoS won't be implemented for a long time AND if it is it will be hybrid model. Imagine them trying to move from PoW... there's way too much criticism
Mine as much ETH as you can whilst you can even with increasing difficulty. It's still solid!

[edwardceng]

Buying ethereum and bitcoin is much better because it market value increase its a win win price instead of mining. But wait there more if you join signature campaigns you would earn ASAPA with out waiting electric bills (STILL YOU CAN STILL EARN BUT I DO STILL PREPARED BOUNTY CAMPAIGNS)

In signature campaigns you could earn 600 to 1000 USD in 2 months depends on signature campaign and only if you are in the rank of full member and onwards.

hey dude,
you can't suggest it here(mining altcoins) because of that not relevant to OP. be careful when reading the OP

During the last days I've been mining ETH with 60 Radeon Rx580 cards. But the difficulty has been increasing, at the same time that the ETH prices have been going down.

So, at this point I'm wondering if there's any other coin that could be mined with the same cards and better results, whattomine.com keeps showing ETH as the best option, and personally I don't know any other service alike to see if there's any other option.

Do you believe it would be better to buy ETH directly instead of mining?
Is there any chance that the difficulty/reward changes for better in the future?

in here only discuss:

Mining (Altcoins) - Altcoin mining discussion. This includes discussion of PoW mining, PoS staking as well as other mining-like activity (e.g. dedicated devices, software, troubleshooting etc.).

[RYXES]

If the rumours are true and Bitmain release the ASIC miner for Ethereum then your best bet is to sell the GPUs and use the money to buy a specific coin you believe in.
The price could be volatile for Ethereum in the next months as ASICs require less electricity and have more profitability therefore people will take a smaller price and still receive the same net profit once the ASIC miners are up and running. Have a think.

[2stout]

Buy and HODL as prices are low and mine and SODL for day to day expenses.

[Jr.Sasha0209]

dripping my 2 farms for 10 cards, but as it is now quite sad with the profitability and buy cards at the price that it now is, I certainly would not have since the payback is more than 2.5 years

[kriskarthik]

In my opinion, If the market price of a coin is cheaper than your operating cost (electricity and real estate/rent) to mine that coin then you should hold the mining for sometime and buy the coin on the market or switch to another coin. Resume the mining back once once your able to make at least the operating cost.

[Tynovten_]

Maybe right now you need to stop dig for a moment because like you say market is giving keep down signal, i try to analyze some but can't pierce the pump point. Right now the best choice is to give directly. I know price will recovery but i don't know when.

Rest for moment.

[mbdmbn]

60 cards is quite an investment that you've made.

As I see it, there are two types of miners. 

TYPE 1:  Mines coins based not on what the coin is worth currently, but mines coins based on the change that coin may increase in value at a later time.
TYPE 2: Mines the most profitable coin at that time.

It sounds like you are a type 2 miner.

Based on that, I might consider beginning to sell off some cards and here's why
1. Nvidia will release new cards this year.  I expect the next generation of Nvidia cards to be better at mining ETH than they are now.  AMD is supreme in the ETH mining market, this is why I think Nvidia will seek to make improvements there.  If you are going to continue to mine ETH, I might consider starting to sell some cards off now slowly.  Get some liquid fiat to buy the next gen cards.
2. if you believe #1, then you should also think AMD cards will drop in value after the new Nvidia releases.

Your other option is to begin mining other coins.  Most coins RIGHT NOW wont make you as much daily income as ETH.  However, some of those coins may make you MORE than mining ETH - IF you mind and HODL.   

If you can mine and HODL , there are many opportunities out there.  I've always felt this is where the real mining profits are. However, if you must spend your mining profits monthly, this wont work for you.

Type 2 miner here, I think type 1 miners haven't got a clue. Why would you mine coins with minimum profits? When you can mine the most profitable coin and with the most profits buy the coins that type 1 miners mine, and then hold or do whatever with them.

As a type 1 miner you're basically wasting electric/profits/time to get something.

As a type 2 miner you're paying your electric and your profits can be used to purchased way more coins of your choosing than if you were a type 1 miner, you're also using less electric and time to get those coins, that you think might rise in value sometime in the future.

Another example: Type 1 miner uses 3kw to gain coins valued at $30 per day. Type 2 miner uses 3kw to gain coins at $50 per day. Electric costs for both are $10 per day. Type 2 miner spends $20 of his $40 profits on what Type 1 miner is mining.

Type 1 miner sees this and  

[chrusso]

60 cards is quite an investment that you've made.

As I see it, there are two types of miners. 

TYPE 1:  Mines coins based not on what the coin is worth currently, but mines coins based on the change that coin may increase in value at a later time.
TYPE 2: Mines the most profitable coin at that time.

It sounds like you are a type 2 miner.

Based on that, I might consider beginning to sell off some cards and here's why
1. Nvidia will release new cards this year.  I expect the next generation of Nvidia cards to be better at mining ETH than they are now.  AMD is supreme in the ETH mining market, this is why I think Nvidia will seek to make improvements there.  If you are going to continue to mine ETH, I might consider starting to sell some cards off now slowly.  Get some liquid fiat to buy the next gen cards.
2. if you believe #1, then you should also think AMD cards will drop in value after the new Nvidia releases.

Your other option is to begin mining other coins.  Most coins RIGHT NOW wont make you as much daily income as ETH.  However, some of those coins may make you MORE than mining ETH - IF you mind and HODL.   

If you can mine and HODL , there are many opportunities out there.  I've always felt this is where the real mining profits are. However, if you must spend your mining profits monthly, this wont work for you.

Type 2 miner here, I think type 1 miners haven't got a clue. Why would you mine coins with minimum profits? When you can mine the most profitable coin and with the most profits buy the coins that type 1 miners mine, and then hold or do whatever with them.

As a type 1 miner you're basically wasting electric/profits/time to get something.

As a type 2 miner you're paying your electric and your profits can be used to purchased way more coins of your choosing than if you were a type 1 miner, you're also using less electric and time to get those coins, that you think might rise in value sometime in the future.

Another example: Type 1 miner uses 3kw to gain coins valued at $30 per day. Type 2 miner uses 3kw to gain coins at $50 per day. Electric costs for both are $10 per day. Type 2 miner spends $20 of his $40 profits on what Type 1 miner is mining.

Type 1 miner sees this and  

Indeed, makes so more much sense...

[chrusso]

Maybe right now you need to stop dig for a moment because like you say market is giving keep down signal, i try to analyze some but can't pierce the pump point. Right now the best choice is to give directly. I know price will recovery but i don't know when.

Rest for moment.

Now that I already got the hardware, the way I see it, I'm paying around 800 USD a month (which I estimate for my electric bill cost) for 4 ETH, in other words, I'm slowly buying ETH at $200 USD since 3 months, if at any point, I can get it cheaper than $200 USD, I'll certainly ask for a loan and buy right away. I would buy at $400~ (current price) tho, just that I ran out of cash after the hardware, so I can't make any significant investment at this time...