Ethereum Mining Now Close to Unprofitable, so what is best thing to do now?

[dwwbit]

Ethereum has fallen below $200, reaching a recent low of $185 this morning at around 4 AM London time on reduced volumes of $1.6 billion during the past 24 hours

An ethereum miner said late last month that it costs $152 in electricity bills to mine one eth. That’s just $30 above ethereum’s recent low of $185 today, with the cost of $152 being just for electricity.

source: https://www.trustnodes.com/2018/09/09/ethereum-mining-now-close-to-unprofitable
i have most of my investments on ETH and now the $ vaue of those investments going down rapidly. What is the best thing to do now?

[jfelix]

If it came close to unprofitable some miners will stop mining and difficulty will decrease and will become profitable again.
The difficulty mechanism works in the two ways when the price goes up and when the price goes down.

There is an interesting guide about how to mine Ethereum here https://7bitcoins.com/how-to-mine-ethereum-eth-mining-beginners-guide/

[feelingfroggy]

Sometimes turning the equipment off and waiting for better opportunities is the best bet.  When you can buy more Ethereum with your electric money than you can mine then it's time to turn off the equipment.  I have actually stopped mining altogether as it's impossible to compete with the zero electricity miners.

[Hct2005]

I know that it is very stressful to see our portfolio going down but this situation where ether is on the downtrend we have to wait and hold on to our portfolio and see what is going to happen with ether in the weeks to come. I know that no one can precisely predict the future but for me ether will bounce back.

[Awesomus Maximus]

When you can buy more Ethereum with your electric money than you can mine then it's time to turn off the equipment.

I agree with this, just go and buy some Ethers. In the meantime use your GPUs in some other way. There are ways to put them to good use like ray tracing for design studios. Or you can even sell the GPUs and save the money to buy new hardware once mining gets profitable again.

[Tankdestroyer]

What is the best thing to do now?

The best thing to do now is to hold that ETH stash of yours unless you see the price of it still being profitable for you. As for your mining equipment, put it into better use by mining other profitable coins that can be mined now. Since you are a miner, you should know what coins are profitable to mine now. If you can't find one, only by then you will turn off your equipment to save money from electricity.

[bitmover]

Nobody knows the future of ethereum. May be 1500 again or 10.

If you are over invested, you should sell until you feel good with what you have and do not stees about the price

[cytpoway121]

Well
There are several things that can be done
Which. Includes continuation of the fight against giving up

You have come a very long way to give up so cheap and easily
You need to keep fighting it
Make it work for you

[pawel7777]

Sometimes turning the equipment off and waiting for better opportunities is the best bet.  When you can buy more Ethereum with your electric money than you can mine then it's time to turn off the equipment.  I have actually stopped mining altogether as it's impossible to compete with the zero electricity miners.

This. If it's not profitable and you can't switch to other profitable coin - switch it off.

It's funny that there's still a lot of amateur miners with a mindset "I'll keep mining below break-even point, maybe the price will go up". With that logic - just buy it with saved electricity bill money. You'll save some money + extend equipment's life.

[Noobaru]

I don't know what would be the best thing to do here but can I suggest transfering your funds from ether to bitcoin or tether? It is indeed a very risky thing to do to be sure, but the whole crypto scene is risky nonetheless. 

[dwwbit]

If it came close to unprofitable some miners will stop mining and difficulty will decrease and will become profitable again.
The difficulty mechanism works in the two ways when the price goes up and when the price goes down.

There is an interesting guide about how to mine Ethereum here https://7bitcoins.com/how-to-mine-ethereum-eth-mining-beginners-guide/

That is a good point if the mining difficulty decreased then it will profitable for those who still continue the mining. Thanks for the information and link.

[Colin Memfis]

I think that now you need to get as much eth as possible as cheaply as possible. I do not believe that the price will fall for a long time

[dwwbit]

Sometimes turning the equipment off and waiting for better opportunities is the best bet.  When you can buy more Ethereum with your electric money than you can mine then it's time to turn off the equipment.  I have actually stopped mining altogether as it's impossible to compete with the zero electricity miners.

What do you mean by zero electricity miners?
As far as I know, mining need electricity, are you referring to miners who use wind power/solar power etc for generating electricity and use that for mining?

[auroboros]

at the moment I think it is the right time to continue to think positively about ethereum's development for the future, so maybe because ethereum prices continue to fall, I will still buy it, because I'm sure everything will return to a much better price than now. to be honest, I myself am currently starting to worry about prices that are continuing to decline, but that is what can be an opportunity for us, and it all depends on how we disclose it

[dwwbit]

I know that it is very stressful to see our portfolio going down but this situation where ether is on the downtrend we have to wait and hold on to our portfolio and see what is going to happen with ether in the weeks to come. I know that no one can precisely predict the future but for me ether will bounce back.

I also think it will bounce back but it will take more time and will not go more than 1000$ like last time in the very short period.  Most of the ETH holders will dump their tokens very early and convert them to USDT or fiat this time. It will make the next bull run very difficult.

[dwwbit]

I don't know what would be the best thing to do here but can I suggest transfering your funds from ether to bitcoin or tether? It is indeed a very risky thing to do to be sure, but the whole crypto scene is risky nonetheless. 

If this the dip or it may go around 180$ and bounce back to 500$+ and I could not enter back to the train! that is risky.

If I had more money as fiat or usdt, I will use those funds to buy more ETH on this situation. but my financial situation also not good right now to do so.

[erox]

I think it makes no sense to look at the profitability of mining. If the price of mining is less than the break-even price then some of the miners will leave and then the complexity will fall and the break-even price will fall again. And so it can go on forever.

[gulu498]

Yes, Ethereum has no profit now. I think the best way to do this now is to sell our Ethereum mining machine. Then buy some Ethereum, because the price of Ethereum is really very low.

[nizamcc]

this is a good opportunity to buy Ethereum coins. Unfortunately I do not have the funds to buy it, but I think they will be able to make a good profit on this price drop. use the opportunities, and do not expect quick results, be wise.

[vit05]

Soon you will have neither profit nor loss. As Ethereum is slowly being prepared to become fully POS. I think that in the middle of nowhere, any small miner must calculate this possibility and get out of the mining. It does not seem to me that this activity will have any chance of being profitable next year for people who pay high prices for electricity.

[moepaing]

Give it up and trade on ETH or on BTC, EOS. They are more mobile now and you profit will be much higher there and you will be calm about your money.

[WaterSeal]

I hope ethereum will not down but current scenario is not hopeful because its price falling continuously. So you can sell your ethereum if you think price will fall more.

[deadpool02]

To my knowledge and understanding, miners actually do not worry of ETH prices at times like this. They have made humongous profits when ETH was at ATH and $1000 above and even at this less price they are still ready and want to continue mining ETH is because they have the belief that ETH will bounce back and recover soon. Miners are not usually short term thinkers, they do invest a lot of amount in equipments with a long term vision,

[MidnightNugget]

I think you should adopt hold principle as the price is low many miners will not be interested more to do mining here and this will reduce the miners in this project as a result the price will rise again and then you can sell them at a good profit.

[krauzzer02]

Then mine another crypto that supports GPU mining there's a lot of them but you should choose the profitable ones I would like to mine Monero and Electroneum for the meantime or look for some altcoins/tokens with low difficulty that is yet to increase once they hit hard from the market but beware as you might get some useless coins and the easiest way to do is to stop mining for a brief period of time then wait for the things to get better save electricity.

[AmazingTiger]

Actually it is really tough to take decision at this level. Since the prices are going down so many investors as well as miner will stop mining investing and mining and the supply will be low which in turn will increase the price. So follow the hold principle and be calm.

[Vineeta2oct]

Keeping most of investment in just one coin is not a good idea. You should think of some risk management. Never put all your eggs in one basket. Best thing to do now is to diversify your portfolio so that you don't regret later if ethereum never recovers to its previous glory.

[giletto]

If the price is lower than 150$ I think all miners will stop mining ETH because they will lose money if they continue and the mining will not be profitable. And so I also think that ETH will not be able to down below 150$ and prices will rise rapidly

[c4ptch4]

with the decline in ethereum prices at the moment it is very unnatural and makes everyone have doubts about ethereum but here I always think positively if prices will return even better than now, if I become a rich person then i'll buy more ethereum which I will then hold for long term

[Pbean]

https://bitcoinwarrior.net/2018/09/what-are-hdms-tokens-and-whats-all-the-hype/

[Luckycoins999]

Right now taking a decision instantly might be tough to take. But if things do go down and will come at a unprofitable state, then the chances are high that the miners will stop and will wait for the situation to take a better turn and will resume again.

[WaterSeal]

It is a lot of stress when the coin is dying like this. And at this rate all the miners can do is stop for the time being and see what the outcome is to make a decision whether to resume or not.

[Rath_]

If it came close to unprofitable some miners will stop mining and difficulty will decrease and will become profitable again.
The difficulty mechanism works in the two ways when the price goes up and when the price goes down./

That's not how it works. The vast majority of miners will continue to mine Ethereum because: its price might go up in the future, the cost of electricity is so low for them that they can still afford mining, there is no other coin worth mining and so on.

The difficulty has nothing to the price of the coin. It all depends on the demand and the supply.

[deepcryptomine]

Yes, you can test multiple things. Either lease your mining power where you get a better return then ethereum or mine another coin which is more profitable. Also, with price dropping, the difficulty decrease as well (hopefully) so you may get a bigger reward.

[Cashi]

Ethereum has fallen below $200, reaching a recent low of $185 this morning at around 4 AM London time on reduced volumes of $1.6 billion during the past 24 hours

An ethereum miner said late last month that it costs $152 in electricity bills to mine one eth. That’s just $30 above ethereum’s recent low of $185 today, with the cost of $152 being just for electricity.

source: https://www.trustnodes.com/2018/09/09/ethereum-mining-now-close-to-unprofitable
i have most of my investments on ETH and now the $ vaue of those investments going down rapidly. What is the best thing to do now?

I'm sure Ethereum mining has no future because it is moving to POS now and POsS means proof of stake where you need no miners, only hold your coins and stake. But I doubt price lows are because of changing to POS, development is proud of POS for ETH because of consuming less energy.

[DimHorse]

This is very sad and stressful news. Though nobody knows the future what’s is about to happen. Portfolio fluctuates as well. So, the best way for now is to hold and wait till the portfolio is uptrend. Let’s hope for the best.

[BlueBruiser]

Eth is a very potential coin I believe. Some of the reason the price of it is low. But as I know it will introduce some new project and those project catch more people here. So the price will go high, I suggest you to hold the coin.

[FrozenPhantom]

i don't think so. i think this is right time for mining eth. eth is top altcoin as we can consider. now the situation of eth is not good but in future it will recover i beleive. just give time eth and mine some eth.

[SmallFish]

In a market place price up and down is not very uncommon thing. Even though it had ups and downs situation Ethereum survived this far. I believe someday it will gain more success. They moved forward left all past bad times. Just have wait and hold on for the right moment. Someday it will bounce back.

[CrownKit]

In a advertise put cost up and down isn't exceptionally unprecedented thing. Indeed in spite of the fact that it had ups and downs circumstance Ethereum survived this distant. I believe sometime in the not so distant future it'll pick up more victory. They moved forward cleared out all past terrible times. Fair have wait and hold on for the correct minute. Sometime in the not so distant future it'll bounce back. Let's hope for the best.

[CrownKit]

In a promote put taken a toll up and down isn't outstandingly exceptional thing. Undoubtedly in show disdain toward of the truth that it had ups and downs circumstance Ethereum survived this far off. I accept at some point within the not so removed future it'll choose up more triumph. They moved forward cleared out all past appalling times. Reasonable have hold up and hold on for the right miniature. At some point within the not so removed future it'll bounce back. Let's trust for the finest.

[StormHunter]

i am very sorry for you.i think please wait some days and observe the market properly.as an investor i think price will increase very soon.wait some days or sell those immediately.

[CuteSeal]

i am exceptionally too bad for you.i think it would be ideal if you hold up a few days and watch the showcase properly.as an financial specialist i think cost will increment exceptionally soon.wait a few days or offer those instantly.

[NuttyOracle]

i am feeling too bad for you.i think if it's not too much trouble hold up a few days and watch the showcase properly.as an speculator i think cost will increment exceptionally soon.wait a few days or offer those instantly.

[SmallFish]

It is going unprofitable but not going very low yet. Some miners will stop mining but I think it will be increasing within short time. So we need to take some time it will be recover soon.

[tttuida]

Buy it and trade on it and ETH will bring you so much money. Just be smart in your decision and check all possible variants of the future situation.

[doedz]

And then some of the miners left Ethreum then some of the miners continued their work if I make sure I can say something like this:
The miners who are patient will provide the best solution for life because mining Etheruem is easy to get without much competition.