At what price point people will stop mining?

[mineshop.eu]

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).

Totally agree , there is no point shunting down the miners till the coin doesn't go to zero, which dont think is going to happen if you are mining top 10 coins by market cap. They will be trade and manipulated as they reached some very oversold values. Only if they doesnt get hacked or something.

[1714907793]

1714907793

[1714907793]

1714907793

[1714907793]

1714907793

[1714907793]

1714907793

[1714907793]

1714907793

[1714907793]

1714907793

[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.

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).

Totally agree , there is no point shunting down the miners till the coin doesn't go to zero, which dont think is going to happen if you are mining top 10 coins by market cap. They will be trade and manipulated as they reached some very oversold values. Only if they doesnt get hacked or something.

Well, no, again mathematically it makes a bunch of sense. If you are willing to buy coins daily, it is absolutely more profitable to turn off your miner when it costs more to run than it earns and to spend that money on the coin (or whatever coin you trade for). If you have free electricity, then yeah, zero is the only point where it makes no sense to run, but for the rest of us...

[deskless]

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).

Totally agree , there is no point shunting down the miners till the coin doesn't go to zero, which dont think is going to happen if you are mining top 10 coins by market cap. They will be trade and manipulated as they reached some very oversold values. Only if they doesnt get hacked or something.

Well, no, again mathematically it makes a bunch of sense. If you are willing to buy coins daily, it is absolutely more profitable to turn off your miner when it costs more to run than it earns and to spend that money on the coin (or whatever coin you trade for). If you have free electricity, then yeah, zero is the only point where it makes no sense to run, but for the rest of us...

Well, people don't apply mathematics before making such decision.
From their perspective - Why to leave the hardware unused. Unless someone's electricity cost is over hundreds of dollars, it can be seen as just a monthly expense and the mining rewards seen as income. That can be the only reason why people will continue mining rather than applying common sense and buy coins worth their average mining electricity expense daily.

[mineshop.eu]

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).

Totally agree , there is no point shunting down the miners till the coin doesn't go to zero, which dont think is going to happen if you are mining top 10 coins by market cap. They will be trade and manipulated as they reached some very oversold values. Only if they doesnt get hacked or something.

Well, no, again mathematically it makes a bunch of sense. If you are willing to buy coins daily, it is absolutely more profitable to turn off your miner when it costs more to run than it earns and to spend that money on the coin (or whatever coin you trade for). If you have free electricity, then yeah, zero is the only point where it makes no sense to run, but for the rest of us...

Well, people don't apply mathematics before making such decision.
From their perspective - Why to leave the hardware unused. Unless someone's electricity cost is over hundreds of dollars, it can be seen as just a monthly expense and the mining rewards seen as income. That can be the only reason why people will continue mining rather than applying common sense and buy coins worth their average mining electricity expense daily.

Yes and specially if you dont own big mining farm and dont have high power costs. Like most of the miners who mine from home, doesnt exchange their coins for years. And are gambling and waiting for those big gains.

[ruplikminer]

I have a lot of photovoltaic panels. So for me it's all profit. I will never stop mining. Actually I am adding more FPGAs and more GPUs and also more ASICS and also more PV panels to mine more and more

[greyday]

Well, no, again mathematically it makes a bunch of sense. If you are willing to buy coins daily, it is absolutely more profitable to turn off your miner when it costs more to run than it earns and to spend that money on the coin (or whatever coin you trade for). If you have free electricity, then yeah, zero is the only point where it makes no sense to run, but for the rest of us...

Well, people don't apply mathematics before making such decision.
From their perspective - Why to leave the hardware unused. Unless someone's electricity cost is over hundreds of dollars, it can be seen as just a monthly expense and the mining rewards seen as income. That can be the only reason why people will continue mining rather than applying common sense and buy coins worth their average mining electricity expense daily.

Yes and specially if you dont own big mining farm and dont have high power costs. Like most of the miners who mine from home, doesnt exchange their coins for years. And are gambling and waiting for those big gains.

Sure to both. But I wasn't talking about how people rationalize things, I was merely stating a fact.

[Tszunami98]

I shut down my GPU's now, i have around 50 but my electricity is somewhere in the range of 0.1-0.12.
Now i am looking to relocate somewhere to find cheaper power..around 6-7 cents. From what i hear, we might go so low that even that won;t be profitable anymore. I can just hope the market to recover because i don;t want to sell them.

[toptek12]

I won't stop mining, i love it, it's fun all ways has been. it's a hobby i don't all ways turn on all my stuff, some days i don't run any thing.

it gives me some thing to do that pays something,I'm not in it for the money or ROI . I do hold most coins i mine because maybe one day, I'll need it, other wise it's all fun . I'm also retired with a disability, so i need some thing to do besides play wow and take care of mom who has dementia.


I keep adding to my GPU rigs,an buy old ASIC like D3 etc use them up,despite the down time we see now in coin prices,plus I'm on solar .

[greyday]

I won't stop mining, i love it, it's fun all ways has been. it's a hobby i don't all ways turn on all my stuff, some days i don't run any thing.

it gives me some thing to do that pays something,I'm not in it for the money or ROI . I do hold most coins i mine because maybe one day, I'll need it, other wise it's all fun . I'm also retired with a disability, so i need some thing to do besides play wow and take care of mom who has dementia.


I keep adding to my GPU rigs,an buy old ASIC like D3 etc use them up,despite the down time we see now in coin prices,plus I'm on solar .

I think there's like 200 people on here who would sell you old ASICs. I have a few I was about to list on ebay, actually. Start a "wanted" thread in the marketplace if you're looking, you'll get tons of bites...

(or PM me if you want a list, it's rather short )

[VyprBTC]

I won't stop mining, i love it, it's fun all ways has been. it's a hobby i don't all ways turn on all my stuff, some days i don't run any thing.

it gives me some thing to do that pays something,I'm not in it for the money or ROI . I do hold most coins i mine because maybe one day, I'll need it, other wise it's all fun . I'm also retired with a disability, so i need some thing to do besides play wow and take care of mom who has dementia.


I keep adding to my GPU rigs,an buy old ASIC like D3 etc use them up,despite the down time we see now in coin prices,plus I'm on solar .

I think there's like 200 people on here who would sell you old ASICs. I have a few I was about to list on ebay, actually. Start a "wanted" thread in the marketplace if you're looking, you'll get tons of bites...

(or PM me if you want a list, it's rather short )

I've got my stuff listed in the marketplace. 50 1080ti's 1070's 1070ti's and 1080 along with all the rigs if you want them hit me up.

[STSToken]

Depends on the costs.

[DrG]

See, you just can't fix stupid when people are so greedy they can't even think straight. If your only goal is to make money (assuming fiat conversion is endpoint) then getting as much coin as possible is the method. If you're mining at a loss then you are actually losing coins.

If you spent $5 on electricity but only get $3 of XMR you're losing $2 of XMR you could have bought on an exchange. That's is completely irrespective of owning a miner or not.

People - sit down with an actual piece of paper and draw it out with pictures if you have to.

Now, if the sheer joy of watching a miner spin fans and make noise excites you more than the mining loss then by all means mine away.

If your goal is to make fiat money from crypto conversion, then it never makes sense to mine at a loss. NEVER.

[Mike011]

well, it`s really simple - hack the shit out of nicehash, bring them down completely and you could mine with nice profit eth, raven or whatever that is on their algo list.

[stolarzz]

well, it`s really simple - hack the shit out of nicehash, bring them down completely and you could mine with nice profit eth, raven or whatever that is on their algo list.

Yeah remember when nicehash was hacked, mining profit rise 50% in one day

[mineshop.eu]

I wounder how many people actually do exchange their coins as they have mined ?

[sparker327]

I wounder how many people actually do exchange their coins as they have mined ?

I've mined for years and exchange my coins all the time. Sometimes after I sell I put in a buy order for the same coin at a lower price and play the market. Some coins I just hodl, really depends on how that coin is doing and what the future might look like. There have been coins I mined simply to sell and use to buy other coins...Im sure there are many out there who do the same thing, not everyone hodls.

[Piskeante]

mining ETH is just unprofitable right now. Most of the people are actually mining at a loss, and have been doing it for quite a long time now.

Reality is people are blind, deaf , stupid , greedy and with plenty of FAITH with no reason.

Many people are still mining because THEY THINK this situation will not last longer. Reality is this situation is going to extend probably months and the market will never ever recover, specially if , as it has been said , SEC will Deny the activity of ETF

Not only this. Even if this situation is being UNPROFITABLE, it's still doable if you mine with ASIC and that shit, because even at current prices, Network hashrate is increasing. I don't see people investing thousands of dollars on mining ETH just for 10-15$ per month of profit. it makes no fucking sense at all.

So, low prices + market destroyed + increase in hashrate, this can be only due to ASICS, that they can get more profit due to more hashrate at more electricity efficiency.

The more the hashrate goes Up, the less profit you get. I will not tell you what to do, but to continue mining is just a very bad decision, and you´ll be penalized for it. Hope so. Some people deserve to learn it the hardest way possible.

[damba_]

I think now it's better to shut down the rigs and the money you would pay your electricity bills invest in some coins.
That way you don't have to monitor your mining rigs and you have lower electricity bills.
If mining stays low profitable/unprofitable, there will be lots of used GPUs for sale, and it will be hard to sell them to anyone.

[gotminer]

mining ETH is just unprofitable right now. Most of the people are actually mining at a loss, and have been doing it for quite a long time now.

Reality is people are blind, deaf , stupid , greedy and with plenty of FAITH with no reason.

Many people are still mining because THEY THINK this situation will not last longer. Reality is this situation is going to extend probably months and the market will never ever recover, specially if , as it has been said , SEC will Deny the activity of ETF

Not only this. Even if this situation is being UNPROFITABLE, it's still doable if you mine with ASIC and that shit, because even at current prices, Network hashrate is increasing. I don't see people investing thousands of dollars on mining ETH just for 10-15$ per month of profit. it makes no fucking sense at all.

So, low prices + market destroyed + increase in hashrate, this can be only due to ASICS, that they can get more profit due to more hashrate at more electricity efficiency.

The more the hashrate goes Up, the less profit you get. I will not tell you what to do, but to continue mining is just a very bad decision, and you´ll be penalized for it. Hope so. Some people deserve to learn it the hardest way possible.

If you don't believe in cryptocurrency, why are you still here? Lol.  Go play water polo or something.  I think this situation will last longer.  I think it's very possible for us to continue moving sideways into next summer.  I also think there is a possibility that we could reach a bottom in Oct/Nov and begin to consolidate.

A bitcoin etf in the usa will eventually happen.  I don't see it happening this year, but I believe it will happen.  Better question is will a physical backed bitcoin etf get pushed though?  Just an FYI, the SEC never said they plan to deny any and all crypto etf proposals.  I know you don't understand how this process works, but stop spreading mis-information.

You're pretty salty today.  How much $ have you lost?

[mineshop.eu]

mining ETH is just unprofitable right now. Most of the people are actually mining at a loss, and have been doing it for quite a long time now.

Reality is people are blind, deaf , stupid , greedy and with plenty of FAITH with no reason.

Many people are still mining because THEY THINK this situation will not last longer. Reality is this situation is going to extend probably months and the market will never ever recover, specially if , as it has been said , SEC will Deny the activity of ETF

Not only this. Even if this situation is being UNPROFITABLE, it's still doable if you mine with ASIC and that shit, because even at current prices, Network hashrate is increasing. I don't see people investing thousands of dollars on mining ETH just for 10-15$ per month of profit. it makes no fucking sense at all.

So, low prices + market destroyed + increase in hashrate, this can be only due to ASICS, that they can get more profit due to more hashrate at more electricity efficiency.

The more the hashrate goes Up, the less profit you get. I will not tell you what to do, but to continue mining is just a very bad decision, and you´ll be penalized for it. Hope so. Some people deserve to learn it the hardest way possible.

If you don't believe in cryptocurrency, why are you still here? Lol.  Go play water polo or something.  I think this situation will last longer.  I think it's very possible for us to continue moving sideways into next summer.  I also think there is a possibility that we could reach a bottom in Oct/Nov and begin to consolidate.

A bitcoin etf in the usa will eventually happen.  I don't see it happening this year, but I believe it will happen.  Better question is will a physical backed bitcoin etf get pushed though?  Just an FYI, the SEC never said they plan to deny any and all crypto etf proposals.  I know you don't understand how this process works, but stop spreading mis-information.

You're pretty salty today.  How much $ have you lost?

@gotminer, i bet he still is very new into mining and have bought the hardware at January at premium and panicking now. I do prefer the value of coins would stay down, so i can accumulate more of them Im mining since early 2016 and have been trough 3 such cycles when mining isnt profitable. Lower the price will be less the coins will be sold in market, smaller the inflation. Eventually it will bounce back, we are still very new, there is only about 30milj bitcoin wallets created + maybe about another 10milj who uses excahnges. This still looks very small for 7bilj people.

p.s even some of them has 2 or 3 or 10 wallets