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Author Topic: if you live in the EU, watch your profit. I've already turned off my rigs.  (Read 3069 times)
Piskeante
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March 18, 2018, 02:00:54 PM
 #1

For a 180mh/s 6 gpu mining rig, the actual profit is around 60$ per month (considering electricity costs).

Mining is dead at current prices. 


BTC no more than 6k by end of 2019. ETH no more than 300$ by end 2019. Huge market manipulation, huge amount of scammers and hypers.
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Digital Drug Lord
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March 18, 2018, 02:01:59 PM
 #2

For a 180mh/s 6 gpu mining rig, the actual profit is around 60$ per month (considering electricity costs).

Mining is dead at current prices. 



It's dead for 2018 that's for sure
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March 18, 2018, 02:15:12 PM
 #3

It's not dead. I pay hilarious 0.21 c/KWh and still make 20 cents per day and card.

THAT'S ALMOST ONE CENT PER HOUR!!!!

I have still up to 3 days left before I pull the plug! Woohooo! Grin



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March 18, 2018, 02:47:19 PM
 #4

During the every price correction, we can hear: "GPU mining is dead."
It is not extra profitable at the moment, but still profitable. After the market recovery We will have another story.
Business as usual... Wink

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March 18, 2018, 03:05:53 PM
 #5

Im paying 0.16gbp per kwh and still managing to make profit. All this price correction is doing is weeding out the miners who were just in it to take advantage of a short boom in prices. The gpu prices will be coming down as the market gets flooded with secondhand ones and the companys selling new ones will have no choice but to cut there prices due to the market being saturated with cards. Yea it may be a crap time to mine right now but aslong as you are breaking even then mine on.

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Digital Drug Lord
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March 18, 2018, 03:06:09 PM
 #6

During the every price correction, we can hear: "GPU mining is dead."
It is not extra profitable at the moment, but still profitable. After the market recovery We will have another story.
Business as usual... Wink

There won't be a recovery it's over the investors are gone
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March 18, 2018, 03:06:26 PM
 #7

Try mining something else than ETH or ETC, like shitcoins some have the potential to be the next big thing.

DYOR.  Cheesy
EthanB
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March 18, 2018, 03:10:05 PM
Merited by mirny (1)
 #8

It looks like there are a lot of people freaking out about mining profits fluctuating. I have news for you guys, but bitcoin price is fluctuating right now. I honestly am not worried about convincing people that it will be worth it in the long run, because all that means if there is more mining profits for me. One good price spike up and all of the sudden everyone is going to wish they didn't sell their GPUs for cheap. If you all leave then the difficulty goes down and profits go up simultaneously, so it sounds like a win win for any miners when users are talking like this. It shows that you are not interested in maintaining a network, but only interested in maintaining high profits. You've said it yourself, it's still profitable and you don't want to keep the switch "on". I'm happy to swallow lesser profits momentarily, because if you can't handle a dip in profits then you don't deserve a spike in profits.
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March 18, 2018, 03:13:10 PM
 #9

turned off my rigs is the best decision you ever made. it's not worth the hassle.

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March 18, 2018, 03:34:29 PM
 #10

I really dont get it why people mine if the electric costs are higher. Why not just buy the coins? Youll get more than with mining...

Just my 2 cents.
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March 18, 2018, 03:34:31 PM
Last edit: March 18, 2018, 03:50:52 PM by toptek
 #11

Im paying 0.16gbp per kwh and still managing to make profit. All this price correction is doing is weeding out the miners who were just in it to take advantage of a short boom in prices. The gpu prices will be coming down as the market gets flooded with secondhand ones and the companys selling new ones will have no choice but to cut there prices due to the market being saturated with cards. Yea it may be a crap time to mine right now but aslong as you are breaking even then mine on.


I agree we see who the weak are . if you mine for profit , mining's not your bag, it has it's  ups and downs . I like it during these times the most .


It looks like there are a lot of people freaking out about mining profits fluctuating. I have news for you guys, but bitcoin price is fluctuating right now. I honestly am not worried about convincing people that it will be worth it in the long run, because all that means if there is more mining profits for me. One good price spike up and all of the sudden everyone is going to wish they didn't sell their GPUs for cheap. If you all leave then the difficulty goes down and profits go up simultaneously, so it sounds like a win win for any miners when users are talking like this. It shows that you are not interested in maintaining a network, but only interested in maintaining high profits. You've said it yourself, it's still profitable and you don't want to keep the switch "on". I'm happy to swallow lesser profits momentarily, because if you can't handle a dip in profits then you don't deserve a spike in profits.

yup more for me, I mine and hold any way .I just had solar installed so my power cost won't matter to much either . an I'll replace the hard ware as i need to .


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March 18, 2018, 03:40:24 PM
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There won't be a recovery it's over the investors are gone

...Investors "gone" it is "over"...and Crypto is "dying"...this is jubilee 500.times...when crypto "dies".

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March 18, 2018, 03:59:15 PM
 #13

because if you can't handle a dip in profits then you don't deserve a spike in profits.

Dip? Lasting for last 3 months? Its not called a dip any more, its called crash.
Piskeante
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March 18, 2018, 04:35:47 PM
Last edit: March 18, 2018, 05:03:29 PM by Piskeante
 #14

interesting opinions.

I suppose everyone is paying bills right?? do you allow yourself to pay from your bank account what should have been paid by the machines??? i haven't gotten to that extreme of idiocy, sorry for that.

ahh ok, so you are mining and not selling. So actually every month you get nothing in return but to pay electricity on your own. So every month you actually lose money in favour of crypto. Ohh this soldiers of crypto, how hard it is to deal with your statements.......  Roll Eyes Roll Eyes

how many of you already know that ETH will enter PoS at current mining rates before 8 months from now?? Do you have an idea of what you are going to mine instead??? I guess not. If instant profit is not your ideal situation, then you can afford losing money all the way till the moment comes when you can sell (if it comes).

And what about the reason to hold considering that cryptocurrency will turn to green??? Any argument not risible?? I mean...i don't consider blind faith as an argument, but it seems the top trending topic here. You should believe because i do it (said god) Nice!!! and if you don't consider it, you are mad.

And what about talking about future profit?? future profit? who TF can tell you right now this is gonna end well??? i guess the world is full of stupids ( a large amount of them are still mining at the moment). It's just a matter of criterium.
if i have to pay the bill for the machine, well, get the fuck out here, that's not what mining is for. And if that was the case, as someone said, you should better buy the coins instead of mining them.

and while we are talking, everybody here mining ETH is getting less and less money. Since i will not pay your bill (neither will do your rigs at current price), i will cut loses. But you´ll still be paying from your bank account your bills. That's utterly nonsense.

But i guess if at the current state you are still mining, nonsense seems to be the most adecuate word to describe it.

Please, continue posting, 20% loss today on ETH. But hey!! the market will recover , remember!!! No reason why, money rises in the trees!!!!

BTC no more than 6k by end of 2019. ETH no more than 300$ by end 2019. Huge market manipulation, huge amount of scammers and hypers.
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March 18, 2018, 04:42:26 PM
 #15

It's not dead. I pay hilarious 0.21 c/KWh and still make 20 cents per day and card.

THAT'S ALMOST ONE CENT PER HOUR!!!!

I have still up to 3 days left before I pull the plug! Woohooo! Grin




You may be right but I don't see that disabling of the European miners had an impact on the complexity of the network. ETH coin mining is still very low. Perhaps you do not agree something or the other miners do not know how to count. We'll wait a few days and see. Maybe profit margins will block the fall in coin prices.
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March 18, 2018, 04:46:06 PM
 #16

interesting opinions.

I suppose everyone is paying bills right?? do you allow yourself to pay from your bank account what should have been paid by the machines??? i haven't gotten to that extreme of idiocy, sorry for that.

ahh ok, so you are mining and not selling. So actually every month you get nothing in return but to pay electricity on your own. So every month you actually lose money in favour of crypto. Ohh this soldiers of crypto, how hard it is to deal with your statements.......  Roll Eyes Roll Eyes

how many of you already know that ETH will enter PoS at current mining rates before 4 months from now?? Do you have an idea of what you are going to mine instead??? I guess not. If instant profit is not your ideal situation, then you can afford losing money all the way till the moment comes when you can sell (if it comes).

And what about the reason to hold considering that cryptocurrency will turn to green??? Any argument not risible?? I mean...i don't consider blind faith as an argument, but it seems the top trending topic here. You should believe because i do it (said god) Nice!!! and if you don't consider it, you are mad.

And what about talking about future profit?? future profit? who TF can tell you right now this is gonna end well??? i guess the world is full of stupids ( a large amount of them are still mining at the moment). It's just a matter of criterium.
if i have to pay the bill for the machine, well, get the fuck out here, that's not what mining is for. And if that was the case, as someone said, you should better buy the coins instead of mining them.

and while we are talking, everybody here mining ETH is getting less and less money. Since i will not pay your bill (neither will do your rigs at current price), i will cut loses. But you´ll still be paying from your bank account your bills. That's utterly nonsense.

But i guess if at the current state you are still mining, nonsense seems to be the most adecuate word to describe it.

Please, continue posting, 20% loss today on ETH. But hey!! the market will recover , remember!!! No reason why, money rises in the trees!!!!
pos for eth is more than a year away yet, get real , I agree on some of your other points though
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March 18, 2018, 04:59:27 PM
 #17

For a 180mh/s 6 gpu mining rig, the actual profit is around 60$ per month (considering electricity costs).
Mining is dead at current prices. 

Not yet, not yet  Cheesy
Piskeante
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March 18, 2018, 05:02:48 PM
Last edit: March 18, 2018, 05:29:19 PM by Piskeante
 #18

interesting opinions.

I suppose everyone is paying bills right?? do you allow yourself to pay from your bank account what should have been paid by the machines??? i haven't gotten to that extreme of idiocy, sorry for that.

ahh ok, so you are mining and not selling. So actually every month you get nothing in return but to pay electricity on your own. So every month you actually lose money in favour of crypto. Ohh this soldiers of crypto, how hard it is to deal with your statements.......  Roll Eyes Roll Eyes

how many of you already know that ETH will enter PoS at current mining rates before 4 months from now?? Do you have an idea of what you are going to mine instead??? I guess not. If instant profit is not your ideal situation, then you can afford losing money all the way till the moment comes when you can sell (if it comes).

And what about the reason to hold considering that cryptocurrency will turn to green??? Any argument not risible?? I mean...i don't consider blind faith as an argument, but it seems the top trending topic here. You should believe because i do it (said god) Nice!!! and if you don't consider it, you are mad.

And what about talking about future profit?? future profit? who TF can tell you right now this is gonna end well??? i guess the world is full of stupids ( a large amount of them are still mining at the moment). It's just a matter of criterium.
if i have to pay the bill for the machine, well, get the fuck out here, that's not what mining is for. And if that was the case, as someone said, you should better buy the coins instead of mining them.

and while we are talking, everybody here mining ETH is getting less and less money. Since i will not pay your bill (neither will do your rigs at current price), i will cut loses. But you´ll still be paying from your bank account your bills. That's utterly nonsense.

But i guess if at the current state you are still mining, nonsense seems to be the most adecuate word to describe it.

Please, continue posting, 20% loss today on ETH. But hey!! the market will recover , remember!!! No reason why, money rises in the trees!!!!
pos for eth is more than a year away yet, get real , I agree on some of your other points though

have you done the maths? i suppose not.

the average time to solve a block right now is 15sec. You get 3 ETH coins. IN one year, you get 6,3 million coins average. We are currently at 98,2 million coins. Thats about 4 months. BUT!!! as it has shown the last reports, more than 10.000Gh/s have entered the total network hashrate in last week.  If you consider exponential increase in hashrate , you can see that actually a block does not last 15sec, more like 13 sec right now.

I suppose mining will stop eventually due to high electricity cost with no income (holders fault). But if this madness continue, we can go down to like 3 months in the worst scenario.

BTC no more than 6k by end of 2019. ETH no more than 300$ by end 2019. Huge market manipulation, huge amount of scammers and hypers.
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March 18, 2018, 05:03:13 PM
 #19

Everybody who dont see any profit and dont believes must stop,
but every business have good times and bad times... its up to you :-)  
For some this is a hobby... and they are willing to loose a cup of coffee a day  Grin
Piskeante
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March 18, 2018, 05:08:28 PM
 #20

Everybody who dont see any profit and dont believes must stop,
but every business have good times and bad times... its up to you :-)  
For some this is a hobby... and they are wiling to loose a cup of coffee a day  Grin


your coffee is very expensive then. my electricity cost per day on a 189,8mh/s 6 gpu mining rig (880W from the wall, so brutally nice) is about 3.8$ per day (0.18$ per kWh).

it's not a matter of good times or bad times. It's a matter of not knowing if there will ever be good times. And you cannot assure that. Or yes??

BTC no more than 6k by end of 2019. ETH no more than 300$ by end 2019. Huge market manipulation, huge amount of scammers and hypers.
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