Mining Unprofitable - What next?

[vuli1]

cry,cry and cry becouse you were so greedy.

The quoted post probably sums up every immature gamer out there who wasn't able to take advantage of the GPU mining opportunity. So many mining haters are now coming out of the woods and bashing the hell out of miners.

Don't be afraid to sell your GPUs. The fact remains, mining was extremely profitable for those who got in early, selling GPUs now is a great way to hedge value or further increase profits.

nah, far from that.

[1715127177]

1715127177

[1715127177]

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[Metroid]

make free electricity, then your miner will always be profitable (as long as Cryptocurrency is worth).

There is no free electricity in the world other than sunbath, if somebody does not receive the bill to pay then trust me somebody will pay that bill, also if people use solar power and they say they have free electricity then they are lying cause one way or the other they or somebody else have paid for that electricity they claim is free.

[sunflower_11438]

make free electricity, then your miner will always be profitable (as long as Cryptocurrency is worth).

There is no free electricity in the world other than sunbath, if somebody does not receive the bill to pay then trust me somebody will pay that bill, also if people use solar power and they say they have free electricity then they are lying cause one way or the other they or somebody else have paid for that electricity they claim is free.

I said "make free electricity"
in the word "make" that is where you pay (invest).
you can "make" all that is required (cables, alternators, buildings, etc.) by your own strength.
If the case is like this then you "buy = pay" with your strength/energy.
or you can buy (use money) everything you need and pay people to do it, then you "buy it = make it" with your money.

then after that you will get what I mean by "free electricity".

If we describe the word "free" as you describe it, then even "sunbath" is not free, because we have to pay using the time we have, and in the end there is no need for the word "free" in this world.
And if there is a solar power user coming to you and he says he has free electricity, he is not lying to you. he just tried to say if he used electricity without paying bills. Trust Me

[wacko]

I said "make free electricity"
in the word "make" that is where you pay (invest).
you can "make" all that is required (cables, alternators, buildings, etc.) by your own strength.
If the case is like this then you "buy = pay" with your strength/energy.
or you can buy (use money) everything you need and pay people to do it, then you "buy it = make it" with your money.

This makes no sense. There are no ways to "make free electricity", not even cheap electricity. Solar electric systems are way more expensive than what standard electricity providers charge in most parts of the world, last time I looked into it the ROI on the equipment was 10-20 years or something at best, and even after that you're not getting "free" electricity with solar since you'll have to do regular maintenance and replace batteries and other components on regular basis. And converting petrol or some natural gas into electricity is also never cheap (and certainly not free). The only way to get "free" electricity is to steal it, but even that is obviously not free (and just a stupid business decision in general considering the risks involved).

[R0land]

I´m so happy  . All mining equipment sold.
Now, I have time for holidays    .

[CryptoAllDay]

Something tells me that FPGA mining is still very profitable and brand new to the scene.  The devices cost a lot up front, but it's the future of mining with prices dropping and electricity costs being so high...... I even hear some countries have outlawed crypto mining.

[R0land]

Something tells me that FPGA mining is still very profitable and brand new to the scene.  The devices cost a lot up front, but it's the future of mining with prices dropping and electricity costs being so high...... I even hear some countries have outlawed crypto mining.

It was once a long long time ago ... FPGA´s are used for Bitcoin mining.

[Metroid]

This makes no sense. There are no ways to "make free electricity", not even cheap electricity. Solar electric systems are way more expensive than what standard electricity providers charge in most parts of the world, last time I looked into it the ROI on the equipment was 10-20 years or something at best, and even after that you're not getting "free" electricity with solar since you'll have to do regular maintenance and replace batteries and other components on regular basis. And converting petrol or some natural gas into electricity is also never cheap (and certainly not free). The only way to get "free" electricity is to steal it, but even that is obviously not free (and just a stupid business decision in general considering the risks involved).

So true and even if somebody steal it, somebody else will pay the bill.

[Looden]

Its still profitable. In any investment (not in crypto world only), depreciation and setup expenses should be counted as a cost for calculating the profitability. Only you can calculate repair/maintenance, electritic and if exist time*costs expenses.
Even in low market, for eample ETH still enough profitable.

[Ribbitforum]

it depends to what project you are mining.. if you are mining a coin that you think its unprofitable then you are so dumb lazy to mine that coin.. its much better to find a new coin that is really profitable

[Mike011]

Turned off my rigs yesterday. Mining does not pay anymore.

[sunflower_11438]

I said "make free electricity"
in the word "make" that is where you pay (invest).
you can "make" all that is required (cables, alternators, buildings, etc.) by your own strength.
If the case is like this then you "buy = pay" with your strength/energy.
or you can buy (use money) everything you need and pay people to do it, then you "buy it = make it" with your money.

This makes no sense. There are no ways to "make free electricity", not even cheap electricity. Solar electric systems are way more expensive than what standard electricity providers charge in most parts of the world, last time I looked into it the ROI on the equipment was 10-20 years or something at best, and even after that you're not getting "free" electricity with solar since you'll have to do regular maintenance and replace batteries and other components on regular basis. And converting petrol or some natural gas into electricity is also never cheap (and certainly not free). The only way to get "free" electricity is to steal it, but even that is obviously not free (and just a stupid business decision in general considering the risks involved).

please understand my words carefully
I tried to say that "make" = "buy/pay", to clarify the use of the word "free".
And yes, solar power is not free even if you can make all the components by yourself, you still have to exchange them for your energy.
Or even if your grandmother gives you a piece of cake it is also not really free because you have to pay it with your sweet smile.
but what I mean is that if you interpret the word "free" very critically, the word "free" doesn't need to be in this world.

As far as I understand, the use of the word "free" is not like that.

I do not feel guilty if I say : "hey, I found a cool site that gives free bitcoin, check this https://freebitco.in "
(unless there is a rule that prohibits this in this forum, but I don't know because I'm a newbie.)
Then you say : "it's not free, we still have to move our fingers to solve the captcha"

[leonix007]

Turned off my rigs yesterday. Mining does not pay anymore.

Truly we are seeing a lot folks shutting down rigs

unless the price goes up some machines could go rest

this bear market pours blood unto miners profit

Hope a pump for the new arrival of hardwares

[AIO Inc]

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

It's only unprofitable because of electricity costs. So, eliminate your electric costs and go solar. After you break even, it's all profit from there!

[grendel25]

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

It's only unprofitable because of electricity costs. So, eliminate your electric costs and go solar. After you break even, it's all profit from there!

Solar is okay-ish but it takes a lot of panels and a lot of batteries to provide for a good-sized GPU mining operation.  I'm still looking for an ideal power production solution.  Maybe there would be some incorporation of hydr, solar, wind, etc in order to produce say 10K watts continuous or more of power independently and off the grid.  Let me know when the price for installation of something like that gets down to about $1 per watt continuous (i.e. $10K for 10Kwatts continuous power)

Maybe by the year 2050?

[Rich~Wells]

I am focusing on market psychology, and where digital currency markets are trending.

Unless the carbon footprint can't be lowered somehow, then I wouldn't consider the hardware to be obsolete.

I am focused on efficient mining, along with an attached regressive value.

[dhmctrader]

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

It's only unprofitable because of electricity costs. So, eliminate your electric costs and go solar. After you break even, it's all profit from there!

Solar is okay-ish but it takes a lot of panels and a lot of batteries to provide for a good-sized GPU mining operation.  I'm still looking for an ideal power production solution.  Maybe there would be some incorporation of hydr, solar, wind, etc in order to produce say 10K watts continuous or more of power independently and off the grid.  Let me know when the price for installation of something like that gets down to about $1 per watt continuous (i.e. $10K for 10Kwatts continuous power)

Maybe by the year 2050?

https://ebay.us/ZbWsl0

Got me thinking cause power is valuable with or without mining...guess like 3 or 4 years break even...self install and maintain is no problem

One thing we got in Texas is good sun.

[wacko]

https://ebay.us/ZbWsl0

Got me thinking cause power is valuable with or without mining...guess like 3 or 4 years break even...self install and maintain is no problem

One thing we got in Texas is good sun.

These are just cheap Chinese panels. You do realize that to get stable electricity working you need a shitload of other expensive stuff? Batteries and all the controlling electronics etc. Solar power is not cheap, it's one of the most expensive ways to get electricity at the moment actually. People that go for it are mostly interested in being "off the grid", doing a fun tech project, and trying to be eco-friendly. No one in their right mind switch to solar power to save on electricity bills, cause solar is way more expensive than other sources in most parts of the world.

[Metroid]

These are just cheap Chinese panels. You do realize that to get stable electricity working you need a shitload of other expensive stuff? Batteries and all the controlling electronics etc. Solar power is not cheap, it's one of the most expensive ways to get electricity at the moment actually. People that go for it are mostly interested in being "off the grid", doing a fun tech project, and trying to be eco-friendly. No one in their right mind switch to solar power to save on electricity bills, cause solar is way more expensive than other sources in most parts of the world.

So true and like you said, mainly off-grid cause is stupid going solar if you pay less than $0.20 per khw but i guess some people will never understand what you said because for them once they break even they get free power which is a lie cause there a constant maintenance for that electricity and in the end is tends to be a lot more expensive than most power providers offer and a lot more work, mining is the same thing, too much work for peanuts right now, why mine while you can buy coins cheaper than you would pay to produce, these prices will not last long cause the people selling right now are losing everytime they sell/cash out for usd or other currency.

[revenant2017]

There are over supply of GTX Cards in the market. I highly suggest to sell it the lowest price possible(Competition Wise). Because you'll never knew the next day, the price you're trying to sell it, looks over price to others. I'm one of GTX 1070 holder here that has been selling it for month. No luck at all.