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DevelopmentBank
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September 11, 2018, 02:40:05 PM |
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I think the reason why we are getting such a drop is because people are sitting at negative ROI and it leads to these sell pressures.
Basically if you ever frequent the ethereum reddit most people on there basically dump their ETH for USD as soon as they get a payout from the pool because they need to pay for their 1080Ti and their electricity.
In a panicky market such as today, there are less willing buyers but the same amount of miners which dump prematurely and cause these huge 25% declines.
Also there are people who bought all their GPUs on Newegg and bought $20K worth of equipment and are paying interest at 20% APR which is like $300 a month in interest which isn't even enough from their mining profits. The same happened in 2014.
This is the perfect example on why people are not buying eth right now, they think those stupid people who bought thousands of dollars in mining equipment will have to sell their eth regardless of the price to pay the bills ehhe, funny is after they sold all their eth and quit mining then eth goes back to 1500 usd and up hehe and then those stupid people want to get back and mining and the cycle restarts hehe, they will never learn their lesson hehe They must never sell their eth at his price, they should right now get a new loan and use it to pay the debts they have then as eth gets back to 2k plus usd then they can sell. I agree with adaseb on this and do believe that miners have partly caused the value of ETH to trickle down. The selling pressure from all the miners definitely has to have some impact on value and the ETH devs and analysts know this, which is why they have also proposed the reduction of the ETH block reward. At the end of it all, i'm just happy that the ETH dev team is still working hard on improvements. Surely one day this will all pay off. |
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VoskCoin (OP)
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September 12, 2018, 02:14:27 PM |
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Those are all mine....
How about solo mining? Have you ever felt interested in doing solo mining? With your current Hashing speed, I sure you have more choices. nah even 50gh is too small in my opinion. I'd rather just go for the sure thing so to speak lol. VOSK sorry to hijack lol! When you coming to my facility fooker! haha never a hijack man  Hopefully sooner than later, I want to check it out and would make for some awesome content! |
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VoskCoin (OP)
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September 12, 2018, 02:33:04 PM |
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Most people assume mining hardware is a fixed sunk cost when it often can be converted back into operating capitol - although at a value lower than acquisition price. As far as I can tell - the only hardware that absolutely becomes trash after 1 year is an ASIC miner. USB risers, motherboards, CPUs, RAM and of course video cards all have some value after 6 months or 12 months of mining. Every 2 months (or more frequently if the market is crashing) I evaluate if I am losing more in devaluation of my hardware than I am earning mining profits. In Vosk's case he's earning one tasty Chipotle burrito a day - and I'm sure tails takes most of that. But 50 cards may be losing 2 to 3 burritos a day in value. I think the 1070 and higher cards will hold their value decently well, but the 1060s and 1050s are going to crash hard (4k and 144Hz monitors demand more than a 1060). But it always must be considered how hard is it to liquidate a video card in a deflating market. Right now it's. In January I was selling 2 year old RX 470s with 1 year of warranty for $450 cash (the nice MSI Gamer X ones, not crappy blower ones) in Los Angeles. I posted them as mining cards and told the buyer the optimal settings I had found. If you try to sell a card now you'll probably say "was never used for mining" and when they ask you what games you played at Ultra High you say CS:GO  Losing total burritos by the day is a depressing statistic DrG! Sad to think about that hardware price drop, reference top of ebay search today  |
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NiklasFalk
Jr. Member
 Offline
Activity: 94
Merit: 1
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September 12, 2018, 04:26:11 PM |
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Have the profit gone below $5 yet? It's very sad to see a "200 mH/s" rig not even making $1 today (on any coin)  |
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lunobird
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September 12, 2018, 05:21:11 PM |
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Team green wins for resale value
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VoskCoin (OP)
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September 13, 2018, 03:30:48 PM |
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Team green wins for resale value
gddr5x for the win baby! 1080 TI have held up excellent compared to most of the other cards in my opinion. Especially if you bought in early when they could be had for $600-$650 online retail w/ a CC or simple sale |
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smoolae
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September 13, 2018, 03:34:21 PM |
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Yes, you are making a little profit but what's important is that you are still luckily making a profit in the spite of all this bs that is happening around the crypto sphere. As long as mining is profitable for an individual, I can see this as a nice side hustle  |
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dagarair
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September 13, 2018, 03:50:09 PM |
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not a side hustle for me. Been a full time deal for 2-3 years....
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smoolae
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September 13, 2018, 03:57:08 PM |
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not a side hustle for me. Been a full time deal for 2-3 years....
Damn   |
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dagarair
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September 13, 2018, 04:03:20 PM |
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if had enough sucess to weather the storm, i hope haha. Not the first time this has happened and probably not the last.
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minerja
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September 14, 2018, 08:22:33 AM |
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Guys,
You are not looking in the right places.
Earning less than $10 a day from 50 gpus !!!
Wow, i earn at least $2 a day from each ryzen i run.
I even have 1 ryzen pumping out $7 a day using 100 watt.... (profit around $6 a day)
Time to find different gpu algos to mine, or sell those gpus for cpus.
Remember there are over 6000 crypto coins, and 92% off all hash is aimed at just 15 coins...think about it.
J
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mineshop.eu
Copper Member
Member
Offline
Activity: 402
Merit: 57
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September 14, 2018, 09:26:12 AM |
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Guys,
You are not looking in the right places.
Earning less than $10 a day from 50 gpus !!!
Wow, i earn at least $2 a day from each ryzen i run.
I even have 1 ryzen pumping out $7 a day using 100 watt.... (profit around $6 a day)
Time to find different gpu algos to mine, or sell those gpus for cpus.
Remember there are over 6000 crypto coins, and 92% off all hash is aimed at just 15 coins...think about it.
J
Or another way steel power from neighbor . ha |
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VoskCoin (OP)
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September 20, 2018, 03:43:21 PM |
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Yes, you are making a little profit but what's important is that you are still luckily making a profit in the spite of all this bs that is happening around the crypto sphere. As long as mining is profitable for an individual, I can see this as a nice side hustle yes I agree, however if you haven't already done well prior or bought into super cheap used equipment I do not think it is very appealing especially @ the rate asic miners have been rolling out this year . . |
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