At what price point people will stop mining?

[deskless]

I understand it depends on electricity cost and other "future value" thinking but at what price point of ETH, people plan to stop rig?

[ltcsprite]

I understand it depends on electricity cost and other "future value" thinking but at what price point of ETH, people plan to stop rig?

Under $200 most will quit or shutoff machines.

Many already have.

[deskless]

Agree - probably make sense to just put daily/weekly/monthly buy orders

[Piskeante]

at 250$ you are mining at a loss if your price per KWh is around 0,15ish $ which is very common.

My machines have been off for around 10 days now, because i predicted the last 3 crashes, Specially the last two, including yesterday's.

[lunobird]

My machines are off due to high California rates.

I've decided not to waste money on electric. I'm maxing out my 401k instead. Loading up that pre tax dirty Fiat 401k so I can borrow from it to cover crypyo trading taxes and load up more crypto in stealth phase early next year.  

It doesn't look like prices will recover some this year. 8 months deep and we still have not found the btc bottom. Still in blowoff phase and not even in accumulation yet. I'll probably do some legal wash trades in December to lower my net gains and rebuy 1 month later.

Those that are still trading/mining must think big picture and really plan far ahead. Things are getting pretty serious so don't bankrupt yourself from taxes next year or poor planning.

[whitesites]

Better Question is what are all your ETH miners going to do when it goes POS?  Do any of you actually have enough ETH to stake?

[lunobird]

Better Question is what are all your ETH miners going to do when it goes POS?  Do any of you actually have enough ETH to stake?

Etherium classic.

[Piskeante]

Better Question is what are all your ETH miners going to do when it goes POS?  Do any of you actually have enough ETH to stake?

with current supply, probably noone below 100 ETH will be allowed to enter PoS. So probably all of us will have to sell at low prices because you´ll not be able to keep them.

i've been saying this for about 4 months now. I knew this was gonna happen. hardly ever make mistakes in this things, because i analyse the info in a rational way.

BTW, i think ETH can go below 200$ and that's a Game Over because most of those 70 million coins shared at the begining had that value (200$) to begin their projects.

There is a terrible possibility that the market dies this month. a Big big one. 

[deskless]

Oh well. It was a good journey. Now we need to discuss how to handle the trading/mining losses for tax purposes

[adaseb]

I guess none of you people were around in 2014-2015 when BTC went from $1100 to $150.

Everybody assumed the difficulty will drop, however if I recall it dropped maybe once and then remained stable and then started its climb once again.

And BTC back then was much less profitable than ETH is today. So it will have to hit like maybe $50 to get a large difficulty drop and maybe it would stablize a few weeks afterwards.

[deskless]

I guess none of you people were around in 2014-2015 when BTC went from $1100 to $150.

Everybody assumed the difficulty will drop, however if I recall it dropped maybe once and then remained stable and then started its climb once again.

And BTC back then was much less profitable than ETH is today. So it will have to hit like maybe $50 to get a large difficulty drop and maybe it would stablize a few weeks afterwards.

Well. It would be interesting to see the effect of $50 ETH.

[remauto1187ma]

Im gonna mine some more ETH for when the jump back up happens but I predict that I will soon be focusing atleast 1 of my 3 mining rigs on mining new coins and accumulating alot of those for the future spikes.  If ETH/BTC doesnt go up substantially in the next 90 days then I will be shutting down atleast 1 if not 2 of my rigs until they do. Im right around .1/kwh

[Jinx99]

100$/eth is zero-profit level to me with current network hashrate.

[deskless]

100$/eth is zero-profit level to me with current network hashrate.

$100/eth coming right at ya

[Tailgunner]

Just look at Siacoin. Difficulty is not dropping despite losing $2-3/day net. I think plenty of people (myself included) would be more than willing to mine at a loss gambling that the price will go back up... Remember, it's not a loss until you sell.

[dnssandbox]

Just look at Siacoin. Difficulty is not dropping despite losing $2-3/day net. I think plenty of people (myself included) would be more than willing to mine at a loss gambling that the price will go back up... Remember, it's not a loss until you sell.

that is only true if you buy.

If you mine and pay for electricity, it may be a loss long before you sell or even have an opportunity to sell.

[Metroid]

Just look at Siacoin. Difficulty is not dropping despite losing $2-3/day net. I think plenty of people (myself included) would be more than willing to mine at a loss gambling that the price will go back up... Remember, it's not a loss until you sell.

that is only true if you buy.

If you mine and pay for electricity, it may be a loss long before you sell or even have an opportunity to sell.

exactly what they don't understand and live in denial is that mining at total loss is actually a double loss whereas buying coins is only a loss if price goes down, mining at loss is paying electricity and if price goes down then is a double loss cause you could have used the electricity money to buy coins. If is a total loss then is better to turn it off if is summer now if is winter and you mine at home and you need the heat then by all means keep the miners on.

It has been pointless to mine anything for at least 5 months.

[lunobird]

Just look at Siacoin. Difficulty is not dropping despite losing $2-3/day net. I think plenty of people (myself included) would be more than willing to mine at a loss gambling that the price will go back up... Remember, it's not a loss until you sell.

that is only true if you buy.

If you mine and pay for electricity, it may be a loss long before you sell or even have an opportunity to sell.

exactly what they don't understand and live in denial is that mining at total loss is actually a double loss whereas buying coins is only a loss if price goes down, mining at loss is paying electricity and if price goes down then is a double loss cause you could have used the electricity money to buy coins. If is a total loss then is better to turn it off if is summer now if is winter and you mine at home and you need the heat then by all means keep the miners on.

It has been pointless to mine anything for at least 5 months.

Agreed. Ive been trying to tell people don't waste after tax money on electricity. Use pre-tax money to load up on your 401k instead to borrow from 401k and buy coins at capitulation bottom prices. This type of move can bring in 6 digits in the future.

[Jinx99]

Just look at Siacoin. Difficulty is not dropping despite losing $2-3/day net. I think plenty of people (myself included) would be more than willing to mine at a loss gambling that the price will go back up... Remember, it's not a loss until you sell.

SIA is on ASICs now, so it's not example.
https://obelisk.tech/

[greyday]

Just look at Siacoin. Difficulty is not dropping despite losing $2-3/day net. I think plenty of people (myself included) would be more than willing to mine at a loss gambling that the price will go back up... Remember, it's not a loss until you sell.

SIA is on ASICs now, so it's not example.
https://obelisk.tech/

Also SIA has infinite volume (there is no coin cap), so it is completely based on potential usability, not scarcity.