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Author Topic: Ethereum Mining Now Close to Unprofitable, so what is best thing to do now?  (Read 1572 times)
moepaing
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September 11, 2018, 12:41:59 PM
 #21

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.

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WaterSeal
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September 12, 2018, 07:04:55 PM
 #22

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
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September 12, 2018, 07:08:37 PM
 #23

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
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September 12, 2018, 07:28:17 PM
 #24

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
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September 12, 2018, 07:42:10 PM
 #25

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
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September 12, 2018, 08:01:40 PM
 #26

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
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September 12, 2018, 08:05:30 PM
 #27

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.
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September 12, 2018, 08:08:01 PM
 #28

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


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c4ptch4
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September 12, 2018, 08:16:44 PM
 #29

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
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September 12, 2018, 08:27:49 PM
 #30

https://bitcoinwarrior.net/2018/09/what-are-hdms-tokens-and-whats-all-the-hype/
Luckycoins999
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September 12, 2018, 08:28:52 PM
 #31

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
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September 12, 2018, 08:53:25 PM
 #32

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.
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September 12, 2018, 08:59:19 PM
 #33

I'm really worry about Ethereum that after 5-6 years. https://etherscan.io/stat/supply check and calculate that mining Ethereum amount will overcome Genesis Ethereum that weird if this system releasing mining Ethereum.

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September 12, 2018, 09:04:07 PM
 #34

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.

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September 12, 2018, 09:13:22 PM
 #35

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
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September 12, 2018, 09:16:21 PM
 #36

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

Quote
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
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September 13, 2018, 03:07:27 PM
 #37

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
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September 13, 2018, 09:47:04 PM
 #38

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
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September 13, 2018, 09:56:58 PM
 #39

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
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September 13, 2018, 10:57:17 PM
 #40

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.
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