At what price point people will stop mining?

[skisport92]

if you look at the fact that people don't always understand what you are doing, maybe not the price of production of a thing))) joke

[Bananana]

Already stop mining since beginning of summer. Not worth the extra heat.

[vodafone228]

Only doing BTG atm, ETH and ETC barely break even at this price.

[rocku12345]

A lot of coins are supported just with "home" miners power and that`s why this business will never end. Cryptocurrency idea from the start was about "mining" with your processor or GPU, so if the home mining will stop then whole idea of decentralized money may crash.

[Intristing]

Already stop mining since beginning of summer. Not worth the extra heat.

If your electricity price is over $0.15/kWh, it is better to leave the miners idle.

[stomachgrowls]

I went through the BTC crash in 2011, through the altcoin crash of 2014. This cycle will likely be shorter due to 100x increase in the number of participants but I don't see the downtrend reversing until well into 2019.

For people mining at a fiat loss - I just shake my head. Either these people have no access to exchanges (which seems almost impossible in this day and age) or they're just plain stupid. I would guess the later looking at ETH difficulty still hanging up there 

In retrospect, it feels good knowing I told so many people to toss their cards earlier this year for fiat. Now they can just sit back and pick up whatever crypto they want at anywhere from 30 to 99% percent less without having to have dealt with heat and noise for 8 months lol.

You can make money in this downturn, provided you planned well when people went full on stupid during the run-up.

Eww, did I just agree with Metroid lol

We would really like to blame but people do have different mindsets when it comes to the reason why they didnt stop mining since the starting month of this year and maybe
for some miners they do already accept such advice or do made on their own decision. Comparing buying altcoins on cheaper price to mining wayback on 8 months time i do really see the difference
and you will able to know which one is worth it.

[swogerino]

I am continuing because I hope history will repeat itself. Last year the price of a bitcoin in August was 3000 bitcoin and the mining rewards were really low but from end of September up to December the price of a bitcoin spiked up to the 20000 bitcoin point and everybody was happy.

I am only still mining hoping that history will repeat itself but this time from 6500 dollars which actually is a bitcoin , I hope it goes up to 45000 dollars for a bitcoin.

[lunobird]

I am continuing because I hope history will repeat itself. Last year the price of a bitcoin in August was 3000 bitcoin and the mining rewards were really low but from end of September up to December the price of a bitcoin spiked up to the 20000 bitcoin point and everybody was happy.

I am only still mining hoping that history will repeat itself but this time from 6500 dollars which actually is a bitcoin , I hope it goes up to 45000 dollars for a bitcoin.

Everyone knows btc will go up with time.
Question is why miners are so stupid to mine in negative and wear down hardware ? Difficulty slows down in bear marker but still increases.

Cash can bring in more coin and also raise up your  average cost basis for trading to pay less taxes, even help to recover faster from bear market if more people buy in directly

[Turkish88]

oh very hard question, some miner believe to tomorow days and can mine in non profitable points when electricity cost higher then income

[DrG]

oh very hard question, some miner believe to tomorow days and can mine in non profitable points when electricity cost higher then income

Tomorrow days? You mean a brighter future? Yeah that's fine, I think most crypto enthusiasts do expect a resurgence.

The thing that is idiotic - why would you spend $5 of electricity mining to effectively buy $3 of coin everyday with a mining rig.  Stop the miner and spend the $5 to buy $5 of coin on an exchange.

The only reason to mine at a loss are:
-lack of access to exchange
-privacy (if you're mining your own blocks they are harder to trace)
-support the network through decentralization

[stolarzz]

-privacy (if you're mining your own blocks they are harder to trace)

That's the point When you don't have any "cash in" transactions to centralized exchanges which usually want documents from you then you can easy cash out money without your name too.

[lunobird]

-privacy (if you're mining your own blocks they are harder to trace)

That's the point When you don't have any "cash in" transactions to centralized exchanges which usually want documents from you then you can easy cash out money without your name too.

Cashing out without name is difficult. Gota use localbitcoin and do all that leg work. As a miner probably best to go by the book, maximize your equipment deduction.

[stolarzz]

-privacy (if you're mining your own blocks they are harder to trace)

That's the point When you don't have any "cash in" transactions to centralized exchanges which usually want documents from you then you can easy cash out money without your name too.

Cashing out without name is difficult. Gota use localbitcoin and do all that leg work. As a miner probably best to go by the book, maximize your equipment deduction.

In my country there are companies what work like currency exchanges, they take your btc without any names for cash.

[VuValley]

For the past few months it was agreed that Obelisk SC1 had completely missed the mark after BMs realease of the A3.

Ive been following the Obelisk forums and the Dev team recently announced that they intend to fork SC to invalidate 3rd party miners on the network and help compensate Obelisk investors for the late shipping date.

If the SC1 is all of sudden the only hardware that can mine Siacoin then it will probably be one of the most valuable miners on market until competitors find a way to catch up.

Ive decided to pull the trigger on a few SC1s and well see how the next few weeks shake out. Happy mining!

[gotminer]

I am continuing because I hope history will repeat itself. Last year the price of a bitcoin in August was 3000 bitcoin and the mining rewards were really low but from end of September up to December the price of a bitcoin spiked up to the 20000 bitcoin point and everybody was happy.

I am only still mining hoping that history will repeat itself but this time from 6500 dollars which actually is a bitcoin , I hope it goes up to 45000 dollars for a bitcoin.

Everyone knows btc will go up with time.
Question is why miners are so stupid to mine in negative and wear down hardware ? Difficulty slows down in bear marker but still increases.

Cash can bring in more coin and also raise up your  average cost basis for trading to pay less taxes, even help to recover faster from bear market if more people buy in directly

Because difficulty will only to increase.  You might be able to mine 2 coins with your hashing power today, but six months from now, it could be reduced to 1 coin with the same hashing power.  If you look at the late 2017 mining craze, you can see that those high daily profits didn't last long.  Your hardware is also going to decrease in value over time.  I think that if you're going to shut down mining rigs, because you're operating at a loss, the hardware needs to be sold off.

The answer is different for everyone depending on electricity cost, if the hardware has already paid for itself, if you actually believe that the price of the coin you're mining today will increase in value in the future.

[gotminer]

oh very hard question, some miner believe to tomorow days and can mine in non profitable points when electricity cost higher then income

The thing that is idiotic - why would you spend $5 of electricity mining to effectively buy $3 of coin everyday with a mining rig.  Stop the miner and spend the $5 to buy $5 of coin on an exchange.

Because you've already invested money in hardware and don't want to sell it at a loss.  Why not do both?  Not having all of your eggs in one basket is nice.

[lunobird]

I am continuing because I hope history will repeat itself. Last year the price of a bitcoin in August was 3000 bitcoin and the mining rewards were really low but from end of September up to December the price of a bitcoin spiked up to the 20000 bitcoin point and everybody was happy.

I am only still mining hoping that history will repeat itself but this time from 6500 dollars which actually is a bitcoin , I hope it goes up to 45000 dollars for a bitcoin.

Everyone knows btc will go up with time.
Question is why miners are so stupid to mine in negative and wear down hardware ? Difficulty slows down in bear marker but still increases.

Cash can bring in more coin and also raise up your  average cost basis for trading to pay less taxes, even help to recover faster from bear market if more people buy in directly

Because difficulty will only to increase.  You might be able to mine 2 coins with your hashing power today, but six months from now, it could be reduced to 1 coin with the same hashing power.  If you look at the late 2017 mining craze, you can see that those high daily profits didn't last long.  Your hardware is also going to decrease in value over time.  I think that if you're going to shut down mining rigs, because you're operating at a loss, the hardware needs to be sold off.

The answer is different for everyone depending on electricity cost, if the hardware has already paid for itself, if you actually believe that the price of the coin you're mining today will increase in value in the future.

Ive put my gpus on Craigslist at lowest price listed on their but not much interest. Seems like everyone waiting to hear about rtx2080

I also talked with hosting facility that will mine my gpus if I ship them their. About 12 cents electric rate,

I'll probably not capitulate and ship to hosting facility.

[Nexigen]

I don’t think that big miners will stop mining. They have to sell their equipment with no profit or they have to continue mining for long term investment. Small miners with few cards will stop mining when profit will be around zero.

[greyday]

oh very hard question, some miner believe to tomorow days and can mine in non profitable points when electricity cost higher then income

The thing that is idiotic - why would you spend $5 of electricity mining to effectively buy $3 of coin everyday with a mining rig.  Stop the miner and spend the $5 to buy $5 of coin on an exchange.

Because you've already invested money in hardware and don't want to sell it at a loss.  Why not do both?  Not having all of your eggs in one basket is nice.

Mathematically that doesn't make sense. If the coin never rebounds, you're just losing money.

I shut mine off when it's been in the negative for more than a couple days. In winter, though, totally different story, as I heat my house with them.

[gotminer]

oh very hard question, some miner believe to tomorow days and can mine in non profitable points when electricity cost higher then income

The thing that is idiotic - why would you spend $5 of electricity mining to effectively buy $3 of coin everyday with a mining rig.  Stop the miner and spend the $5 to buy $5 of coin on an exchange.

Because you've already invested money in hardware and don't want to sell it at a loss.  Why not do both?  Not having all of your eggs in one basket is nice.

Mathematically that doesn't make sense. If the coin never rebounds, you're just losing money.

I shut mine off when it's been in the negative for more than a couple days. In winter, though, totally different story, as I heat my house with them.

Sure, you have to believe that the coin will rebound.  Or just trade it for bitcoin now and wait several years (hoping that the value of btc will be much much higher).