I shut it down tonight boys.

[Piskeante]

my 10 gpus are off and have been off for almost two weeks now. I don't regret it even once, because of many reasons.

1º i'm not a holder. If you are a holder mining, you are actually a moron. (though i can accept miners who mine , expecting the price to increase and sell to recover electricity bill + profit)

2º at 0,18$/Kwh, the profit per card is 0,18€/day. That's a no go for the vast amount of miners.

3º if you don't mine, you´ll not ROI ever, that's true, but considering the situation of the market, you can expect to be like months paying your electricity bill without a single € of profit, which is not what it was intended when i bought all my equipment.

4º nowadays, buying coins is far more profitable than mining. and if you know how to trade coins, (so you are a bear right now), you can get almost 5-10% profit almost everyday if you are a good one.

5º long term investment is the most risky situation you can imagine, because on the hypothetical situation of considering the market to increase, the only thing you can do is trust blindly on crypto. Because, nowadays, there is no argument, data, clue, information or technical analysis that can make you believe that that is gonna happen.

Mining nowadays is just assuming losses, that's why i will continue to keep my gpu's off.

[gotminer]

my 10 gpus are off and have been off for almost two weeks now. I don't regret it even once, because of many reasons.

I'll give you bottom dollar for them. 

[DES_MX]

It's bad for hardware that worked hard to rest for too long my friend
80% chance your mobo will fail next time you turn it on back to mining

[Geraldo]

I'm curious about OP's decision after a few pages discussion. And I found it on the third page. Seems like OP's rig has turn-on back. Cheers OP  

I turned em back on but Im switching back to Monero. The difference in revenue is negligible but the power demands are less than half that of neoscrypt. 6950 is only using 50W, and R9 270X is only used 80-100. With Neoscrypt the 6950 would use over 100W and the R9 270X would use a staggering 180W.

[DES_MX]

Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies

[dimpsk]

My little hobby rig cannot find a coin to mine thats profitable. Even with $0.06kWh electricity Im losing money from this point on.

https://www.youtube.com/watch?v=JSUIQgEVDM4

Lol, I clicked the youtube link hoping that it might be a documentation of your rig or your calculations, thinking you might gone wrong.
Anyways, this video might help you: https://www.youtube.com/watch?v=dQw4w9WgXcQ  

Shhhhh DONT TELL THEM THE SECRET  

The secret is, buy an ASIC.

Bitmain E3 isn't shipping 'till Mid-July - and is about the SAME specs (180 Mhash at 800 watts) as a well-tuned 6-card AMD RX 480/580 rig, and INFERIOR in performance to a well-tuned Nvidia GTX 1070 6-card rig (186+ Mhash at 700-750 watts).

Only thing it has going for it is the LOW PRICE.

Apparently the rumours about a "F3" unit were incorrect, as was that one published video - or the "F3" isn't an ETH mining unit.

It's not a low price for ASIC. It's still hipe price for GPU. Feel the difference.

[Agozyen]

Sorry to hear that.  It will be profitable again at some point in the future.  While waiting you could run some staking coins or even some Masternodes.  This is a great way to earn coins with running hardware, other than your PC. 

 There are lots of staking coins out there.  I would avoid the ones that have a high ROI as they seem to tank in value very quick.  Low ROI coins won't give you much unless you hold mass amounts.  There is a sweet spot (at least for me) that caps out around 300%

  Some good examples, from highest ROI to lowest -

Platinum Bar (XPTX) - 230% interest!
Condensate (RAIN) - 200% interest!
Castle Airdrop Platform (CSTL) - 100% interest!
Inflation Coin (IFLT) - 72% Interest.

None of these are guaranteed to go anywhere, but each one has something going for it!

[Metroid]

Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies

Pennies per day? i guess even if is pennies per day per card you can say profitable, now we have to agree that is not worthwhile. Get a minimum wage job  few hours per day is 100x more profitable than spending $450 on a rx 580 and earn pennies per day. Mining is only good if is worthwhile your time and money and right now is not.

[Suslived]

The problem here is everyone is so focused on the current situation. Do you really believe that ETH will not recover? Don't be like all the sheeps who will turn off their rig (or be one i don't care and would be happier with less difficulty). Just like the saying goes, "be greedy when everyone is fearful."

[gotminer]

Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies

Pennies per day? i guess even if is pennies per day per card you can say profitable, now we have to agree that is not worthwhile. Get a minimum wage job  few hours per day is 100x more profitable than spending $450 on a rx 580 and earn pennies per day. Mining is only good if is worthwhile your time and money and right now is not.

Minimum wage job?    LOL ... I haven't worked a minimum wage job since I was 15 years old.  My real job pays well enough to allow me to speculate on mining/trading/hodling crypto without forcing me to change the way that I live.  I also don't spend a lot of time babying my mining farm.  It's stable enough that it doesn't require constant babying.  However, I do spend a lot of time researching.  I would be doing that anyway whether I was mining, trading, or just buying to hold.

[dimpsk]

Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies

Pennies per day? i guess even if is pennies per day per card you can say profitable, now we have to agree that is not worthwhile. Get a minimum wage job  few hours per day is 100x more profitable than spending $450 on a rx 580 and earn pennies per day. Mining is only good if is worthwhile your time and money and right now is not.

Minimum wage job?    LOL ... I haven't worked a minimum wage job since I was 15 years old.  My real job pays well enough to allow me to speculate on mining/trading/hodling crypto without forcing me to change the way that I live.  I also don't spend a lot of time babying my mining farm.  It's stable enough that it doesn't require constant babying.  However, I do spend a lot of time researching.  I would be doing that anyway whether I was mining, trading, or just buying to hold.

Mining is not a speculation.
It's kinda hobby, time spending, money wasting  - you name it.

[gotminer]

Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies

Pennies per day? i guess even if is pennies per day per card you can say profitable, now we have to agree that is not worthwhile. Get a minimum wage job  few hours per day is 100x more profitable than spending $450 on a rx 580 and earn pennies per day. Mining is only good if is worthwhile your time and money and right now is not.

Minimum wage job?    LOL ... I haven't worked a minimum wage job since I was 15 years old.  My real job pays well enough to allow me to speculate on mining/trading/hodling crypto without forcing me to change the way that I live.  I also don't spend a lot of time babying my mining farm.  It's stable enough that it doesn't require constant babying.  However, I do spend a lot of time researching.  I would be doing that anyway whether I was mining, trading, or just buying to hold.

Mining is not a speculation.
It's kinda hobby, time spending, money wasting  - you name it.

Sure it is.  I'm speculating that I will make money when the price of the coin rises.

[dimpsk]

Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies

Pennies per day? i guess even if is pennies per day per card you can say profitable, now we have to agree that is not worthwhile. Get a minimum wage job  few hours per day is 100x more profitable than spending $450 on a rx 580 and earn pennies per day. Mining is only good if is worthwhile your time and money and right now is not.

Minimum wage job?    LOL ... I haven't worked a minimum wage job since I was 15 years old.  My real job pays well enough to allow me to speculate on mining/trading/hodling crypto without forcing me to change the way that I live.  I also don't spend a lot of time babying my mining farm.  It's stable enough that it doesn't require constant babying.  However, I do spend a lot of time researching.  I would be doing that anyway whether I was mining, trading, or just buying to hold.

Mining is not a speculation.
It's kinda hobby, time spending, money wasting  - you name it.

Sure it is.  I'm speculating that I will make money when the price of the coin rises.

There is no connection in coin price rising and mining. You gain profit if you bought chip coin and sell it after price increased.
You gain profit from mining if you sold mined coin, paid electricity bill, recouped you farm and earn somth after that

[gotminer]

Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies

Pennies per day? i guess even if is pennies per day per card you can say profitable, now we have to agree that is not worthwhile. Get a minimum wage job  few hours per day is 100x more profitable than spending $450 on a rx 580 and earn pennies per day. Mining is only good if is worthwhile your time and money and right now is not.

Minimum wage job?    LOL ... I haven't worked a minimum wage job since I was 15 years old.  My real job pays well enough to allow me to speculate on mining/trading/hodling crypto without forcing me to change the way that I live.  I also don't spend a lot of time babying my mining farm.  It's stable enough that it doesn't require constant babying.  However, I do spend a lot of time researching.  I would be doing that anyway whether I was mining, trading, or just buying to hold.

Mining is not a speculation.
It's kinda hobby, time spending, money wasting  - you name it.

Sure it is.  I'm speculating that I will make money when the price of the coin rises.

There is no connection in coin price rising and mining. You gain profit if you bought chip coin and sell it after price increased.
You gain profit from mining if you sold mined coin, paid electricity bill, recouped you farm and earn somth after that

There is a lot of connection, if you're doing it correctly.  Coin price rises.  More people flock to mining, because they think their going to get rich quick (you probably did that), difficulty goes up as additional hashrate is introduced to the network, you receive less coin for mining, but price has increased, so it evens out.  Next coin price drops, you are pissy about mining ... LOL. 

Also, coin price and mining ... I mine, hold, and sell when coin price is X3.  My capital recovery time frame is reduced by a factor of three. 

You and Digital Drug Lord should go get a room ... HEHE 

[QuintLeo]

There is no connection in coin price rising and mining.

Coin price is one of the 2 PRIMARY factors in mining profitability.
Electric cost is the other one.

[dimpsk]

There is no connection in coin price rising and mining.

Coin price is one of the 2 PRIMARY factors in mining profitability.
Electric cost is the other one.

And GPU costs is the third But I was talking about different things.
Only current coin price is matter. Is mining profitable or not.
Some said about mining into  the long time box - it is a bullshit. If current prices low - it is better to buy coins instead of mining them.
If current prices are high - it's better to  mine.
It's just simple for me.

[dimpsk]

Also to all people saying you can't profit at $0.20ct electricity cost... I have €0.22 over here and still make profit... It's all about the algo you mine and how you optimize your cards buddies

Pennies per day? i guess even if is pennies per day per card you can say profitable, now we have to agree that is not worthwhile. Get a minimum wage job  few hours per day is 100x more profitable than spending $450 on a rx 580 and earn pennies per day. Mining is only good if is worthwhile your time and money and right now is not.

Minimum wage job?    LOL ... I haven't worked a minimum wage job since I was 15 years old.  My real job pays well enough to allow me to speculate on mining/trading/hodling crypto without forcing me to change the way that I live.  I also don't spend a lot of time babying my mining farm.  It's stable enough that it doesn't require constant babying.  However, I do spend a lot of time researching.  I would be doing that anyway whether I was mining, trading, or just buying to hold.

Mining is not a speculation.
It's kinda hobby, time spending, money wasting  - you name it.

Sure it is.  I'm speculating that I will make money when the price of the coin rises.

There is no connection in coin price rising and mining. You gain profit if you bought chip coin and sell it after price increased.
You gain profit from mining if you sold mined coin, paid electricity bill, recouped you farm and earn somth after that

There is a lot of connection, if you're doing it correctly.  Coin price rises.  More people flock to mining, because they think their going to get rich quick (you probably did that), difficulty goes up as additional hashrate is introduced to the network, you receive less coin for mining, but price has increased, so it evens out.  Next coin price drops, you are pissy about mining ... LOL. 

Also, coin price and mining ... I mine, hold, and sell when coin price is X3.  My capital recovery time frame is reduced by a factor of three. 

You and Digital Drug Lord should go get a room ... HEHE 

No offence, but it looks like a bullshit.
Prices are high - you mine and sell coins.
Prices are low - you just buy coins. Do not complicate the simple things

[Ayuluv2001]

There is no connection in coin price rising and mining.

Coin price is one of the 2 PRIMARY factors in mining profitability.
Electric cost is the other one.

And GPU costs is the third But I was talking about different things.
Only current coin price is matter. Is mining profitable or not.
Some said about mining into  the long time box - it is a bullshit. If current prices low - it is better to buy coins instead of mining them.
If current prices are high - it's better to  mine.
It's just simple for me.

yes by logical wise point of view there is nothing wrong with it

Unless the miner is cash rich and can afford to substain paying off bills and investment cost and sell when the coins price goes up (more of investment)

For other miners whom need to get rid of coins to pay off bills etc, it might not be good for everyone

[senseless]

My little hobby rig cannot find a coin to mine thats profitable. Even with $0.06kWh electricity Im losing money from this point on.

https://www.youtube.com/watch?v=JSUIQgEVDM4

Lol, I clicked the youtube link hoping that it might be a documentation of your rig or your calculations, thinking you might gone wrong.
Anyways, this video might help you: https://www.youtube.com/watch?v=dQw4w9WgXcQ  

Shhhhh DONT TELL THEM THE SECRET  

The secret is, buy an ASIC.

Bitmain E3 isn't shipping 'till Mid-July - and is about the SAME specs (180 Mhash at 800 watts) as a well-tuned 6-card AMD RX 480/580 rig, and INFERIOR in performance to a well-tuned Nvidia GTX 1070 6-card rig (186+ Mhash at 700-750 watts).

Only thing it has going for it is the LOW PRICE.

Apparently the rumours about a "F3" unit were incorrect, as was that one published video - or the "F3" isn't an ETH mining unit.

What's up with the limit of one per person?

It's their latest tactic of trying not to look like complete assholes. So, they privately mine, extract large amounts of value from a coin, sell a bunch of miners, then sell off their coins and crash the price. It keeps the price high during their sales and their units ROI looking great.

I know a lot of people speculate about that and I do believe it to be true.  I mean, why wouldn't they do it?  I think I've come full circle on my opinion of Bitmain at this point ... Really doesn't matter to them if they sell this unit at $800 or $400, because they've already accumulated enough income off of mining with them privately to sell at whatever price they can get.  Jihan is a very smart man and I'm sure they carefully calculate the max price they can sell their used hardware at.  Getting money out of the used hardware is just the icing on the cake for them, if they have been mining with them for months.  You'd be doing it that way too, if it was your business that spent millions in R&D on something like that.  

Jihan doesn't even care about crypto, from what I've heard.  All that I've been hearing as of late is that he is using this as a catalyst into some really scary AI shit.  

I would just build my own hardware and mine in secret. I wouldn't go and mine a bunch of coins, hold them, and artificially increase the price by hodl before launching a sale with artificially inflated ROI then destroy the price of a coin (and ROI with it) after collecting money from the miner sales. They pump and dump any time they launch miner sales. What they're doing would be considered deceptive trade practices, market manipulation, and would probably be illegal in more than a few locations.

[yo_mama]

What's your hash rate?

Even at $0.2 kW/h the most expensive electrcity in the world I can still gain a tiny profit mining ETH.