Mining Unprofitable - What next?

[davemanet]

Are you guys going to hold on to your machines or start selling?  Turn off for now and wait it out?

[1714640748]

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[1714640748]

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[Zheko87]

My rigs gives me ~0.6$ per day from each 1060 card. Electricity cost ~0.2$ each card per day. Profit ~0.4$ per day for each 1060. If they will give me more then 0 - they will work. every day I sell extracted coins and hodl profit in btc.

[Comino]

Are you guys going to hold on to your machines or start selling?  Turn off for now and wait it out?

Your question is retorical. To mine or not to mine - depends a lot on your electricity costs, PUE etc. and these things depend on other factors your rig, GPUs, cooling, which country you live in. Also, if you hold your coins, that amount is changing together with the market. Mining is a longterm investment and you can’t really say that it is unprofitable the day the prices drop. As long as you are covering your electricity costs, you are still fine )

As a second scenario, change your mining algo if your rig allows that.

[crairezx20]

If you are living in 3 world country with high electricity rate then better to stop and wait again for a few months until the mining become profitable again.
But if you still can make a good profit in mining at your current electricity rate why not stay mining and hold and then exchange them if the price increase.

For me, I stay mining even it is not really profitable these days because my power source here is free with a solar panel.

Remember that the new Nvidia cards will be coming soon that I think more efficient and higher performance than the previous cards.

[swogerino]

If you are living in 3 world country with high electricity rate then better to stop and wait again for a few months until the mining become profitable again.
But if you still can make a good profit in mining at your current electricity rate why not stay mining and hold and then exchange them if the price increase.

For me, I stay mining even it is not really profitable these days because my power source here is free with a solar panel.

Remember that the new Nvidia cards will be coming soon that I think more efficient and higher performance than the previous cards.

No matter how efficient Nvidia has build these cards pretty much they can't do anything against the army of ASICS that have paralysed home and small farm mining for now. The extreme difficulty increase in pretty much every coin that can be mined with a graphic card cannot be increased that much without ASICS joining in.

I still continue to mine though, even I am at just 5% profit now after removing my electricity cost which is nothing, but I hope that the price of bitcoin will rise high enough in 2019 that my mining in these days would pay back itself then.

[d57heinz]

I’d find another hobby. Those with more morney than brains have taken this over.  Yea I’m sure the price will pump to some insane level at some point. But surely this goes down as one of the largest scams in history.  It’s all becoming clear why satoshi kept hidden.  Maybe the task force of private detectives will sort this scam out. BR

[Thekool1s]

Are you guys going to hold on to your machines or start selling?  Turn off for now and wait it out?

Time to get creative then mate. Your GPUs can be still used for many things. Like Rendering/Ai Training etc. If you own more than 30 GPUs you can easily get in touch with your local universities and offer their professors/researchers your GPUs to be used for AI training. One of my friends landed a 2 years contract with a local University this way. Same goes for the Rendering. You can look up for Local Animation Studios and get in touch with them. I am sure you will be able to sort something out with them. You may have to transfer these GPUs to their facilities, a small inconvenience but you will still make more money than mining at a loss.

If you believe you aren't comfortable doing this and you think that you can break even by selling your hardware. Then do that immediately.

[BaNgTHai]

I’d find another hobby. Those with more morney than brains have taken this over.  Yea I’m sure the price will pump to some insane level at some point. But surely this goes down as one of the largest scams in history.  It’s all becoming clear why satoshi kept hidden.  Maybe the task force of private detectives will sort this scam out. BR

What do you think is a scam the whole mining aspect of crypto?

[Awesomus Maximus]

GPU mining has certainly become unprofitable, at least for the time being. Has anybody looked into Bitmain's Equihash Antminer? It looks profitable to me, but how long it will remain profitable that is another question. Not to mention the noise, you can't mine at home. What do you think is it worth it?

[gameboy366]

GPU mining has certainly become unprofitable, at least for the time being. Has anybody looked into Bitmain's Equihash Antminer? It looks profitable to me, but how long it will remain profitable that is another question. Not to mention the noise, you can't mine at home. What do you think is it worth it?

Stfu with all of the noise bs.

I know people who got their investments back in one month with that thing mining zencash.

[vuli1]

cry,cry and cry becouse you were so greedy.

[nsummy]

Putting all of my cards on ebay this week.  Nvidia's new cards will be announced in about 9 days.  In the time between me selling my cards and the new cards becoming available, I can't see myself missing out on too much profit.

[ikicha]

I don't know what next.
Mining is very unprofitable at this moment.
This cryoto market cap is like 1 year ago.

[Mister11]

Are you guys going to hold on to your machines or start selling?  Turn off for now and wait it out?

Proof of Stake will kill mining, but as long btc is above ~4.5k$ mining is still profitable for mining farms (or at least for me :p)

[d57heinz]

Are you guys going to hold on to your machines or start selling?  Turn off for now and wait it out?

Proof of Stake will kill mining, but as long btc is above ~4.5k$ mining is still profitable for mining farms (or at least for me :p)

That’s good to know. And the Chinese with the cheap cost of machines etc can produce a bitcoin for about half that. So yes the market has a ton more correction left.  Not to mention more efficient machines means they can drop it lower yet.  I mean this is supposed to be a financial settlement protocol. If the price is thru the roof who will use it.  Not the little guy that’s for sure.  I know I waited several days for transactions to process during the 19k hype. Certainly most of that “traffic” was traders dumping on us rubes.  When you have enough money this is just fun for folks. Pump and dumping at our expense. Wealth transfer of the grossest kind. Stock market. Always has to be a greater fool.  Then when that doesn’t happen some more financial tricks come into play. Stock buybacks etc.  it’s such a game.  Yes I could play but that’s against my morals.  Sadly bitcoin is starting to conflict with my morals.  Once that line is crossed I find it hard to look past it.  POS doesn’t work either because again a person with more money than brain cells comes in buys up the stake and then just collects interest at us rubes expense. See a pattern here.  Realize that those saying bitcoin will solve some problem it won’t. What it does do is bring to light many more issues. Financial schemes that are pilfering us peons.  We are wising up tho:)

[smoolae]

Mining is on the verge of becoming unprofitable when the market keeps crapping itself on daily bases. But remember, this is not the first time we are going through this situation. I'm not saying that it will become really profitable again, but still...maybe

[adaseb]

If its anything like the repeat of 2014... then it will be 2 years before mining is profitable again.

At the beginning of 2014, is when mining started to level off and at the end of 2015, most already had shut off their rigs. Sometime in 2015 most people just Craigslisted them or eBayed them.

Then 2016 came around and it was profitable again. Took a while for the difficulty to ramp up because everybody had sold all their GPUs.

[RsvTu]

Are you guys going to hold on to your machines or start selling?  Turn off for now and wait it out?

Mining with electricity price of 0,07€ kwh. Still profitable and still decent income / ROI if u look vs "normal" investments. Its all about "staying strong" in bad times and see if things gets better. More bigger player you are the more mining works for you, not easy for home miners at this moment if electricity price is high.

[edwardceng]

Are you guys going to hold on to your machines or start selling?  Turn off for now and wait it out?

all of my rigs are still running until now sometimes I solo mining of shitcoins with a short time and selling all their coins and sometimes mining new coins before launching on the exchange market and those methods are still profitable after electricity costs.

as stated by other members above, mining is now dependent on electricity costs in each country. If the electricity in your country is higher than the income from mining, then you better sell it or turn off your rig.

[Regulater]

Are you guys going to hold on to your machines or start selling?  Turn off for now and wait it out?

Proof of Stake will kill mining, but as long btc is above ~4.5k$ mining is still profitable for mining farms (or at least for me :p)

PoS is garbage, if we were in it for PoS i would have stayed with conventional methods. If you are a firm believer in PoS coins and systems, you should have stuck with banks and investment firms. They are centralized, and its like the movement from a gold backed currency to a non backed government issued currency.