incredible as it may seem...........

[Piskeante]

very nice opinions, thanks for all.

just to be clear. I bought my cards at 50% off "retail inflated prices". I got most of them at 220€ or 250$, so i was not rekt by the hype, and did not buy my cards at any costs. I did manage to buy only at prices i was ready to buy, and not obviously retail prices, that were much higher. In Spain most Sapphire RX 580 nitro+ 8gb were around 459€ or 528$ from the biggest retailer here in Spain, called PCCOMPONENTES.

the idea of heating my house is not an option, i mean, i live in Valencia, i see the sea through the window, so i hardly see 0ºC anytime. Last year, with higher prices, i used this system for heating. Nowadays is just not profitable anymore. it doesn't make sense.


What it's very obvious for me, is that no matter if you pay 0,05cnt/kWh or less. You are at a loss right now. You need ASIC + totally free electricity to get green money on your pocket. If that's not the case, you are losing money.

What is obvious for me, and many of you have said it, is that there is ACTUALLY NO FACT, REASON, ARGUMENT, TECHNICAL ANALYSIS OR WHATEVER to see ETH pumping in price. Noone has a clue, but we've had 9 months of a total crash, and the coins are at lows, but noone is buying. bulls are hardly able to hold small values for the coins. There is a huge resistance to pump the coins and i don't think it's reasonable to pump money on mining right now.

It makes no sense.  

[Marvell2]

very nice opinions, thanks for all.

just to be clear. I bought my cards at 50% off "retail inflated prices". I got most of them at 220€ or 250$, so i was not rekt by the hype, and did not buy my cards at any costs. I did manage to buy only at prices i was ready to buy, and not obviously retail prices, that were much higher. In Spain most Sapphire RX 580 nitro+ 8gb were around 459€ or 528$ from the biggest retailer here in Spain, called PCCOMPONENTES.

the idea of heating my house is not an option, i mean, i live in Valencia, i see the sea through the window, so i hardly see 0ºC anytime. Last year, with higher prices, i used this system for heating. Nowadays is just not profitable anymore. it doesn't make sense.


What it's very obvious for me, is that no matter if you pay 0,05cnt/kWh or less. You are at a loss right now. You need ASIC + totally free electricity to get green money on your pocket. If that's not the case, you are losing money.

What is obvious for me, and many of you have said it, is that there is ACTUALLY NO FACT, REASON, ARGUMENT, TECHNICAL ANALYSIS OR WHATEVER to see ETH pumping in price. Noone has a clue, but we've had 9 months of a total crash, and the coins are at lows, but noone is buying. bulls are hardly able to hold small values for the coins. There is a huge resistance to pump the coins and i don't think it's reasonable to pump money on mining right now.

It makes no sense.  

what ?! even at 7 cents mining eth and xmr is profitable, yeah its not 3x profit like it was last two years its still profit. EU vat really inflates the price of gear so you will have a longer roi but that’s just one part of the world

[Piskeante]

very nice opinions, thanks for all.

just to be clear. I bought my cards at 50% off "retail inflated prices". I got most of them at 220€ or 250$, so i was not rekt by the hype, and did not buy my cards at any costs. I did manage to buy only at prices i was ready to buy, and not obviously retail prices, that were much higher. In Spain most Sapphire RX 580 nitro+ 8gb were around 459€ or 528$ from the biggest retailer here in Spain, called PCCOMPONENTES.

the idea of heating my house is not an option, i mean, i live in Valencia, i see the sea through the window, so i hardly see 0ºC anytime. Last year, with higher prices, i used this system for heating. Nowadays is just not profitable anymore. it doesn't make sense.


What it's very obvious for me, is that no matter if you pay 0,05cnt/kWh or less. You are at a loss right now. You need ASIC + totally free electricity to get green money on your pocket. If that's not the case, you are losing money.

What is obvious for me, and many of you have said it, is that there is ACTUALLY NO FACT, REASON, ARGUMENT, TECHNICAL ANALYSIS OR WHATEVER to see ETH pumping in price. Noone has a clue, but we've had 9 months of a total crash, and the coins are at lows, but noone is buying. bulls are hardly able to hold small values for the coins. There is a huge resistance to pump the coins and i don't think it's reasonable to pump money on mining right now.

It makes no sense.  

what ?! even at 7 cents mining eth and xmr is profitable, yeah its not 3x profit like it was last two years its still profit. EU vat really inflates the price of gear so you will have a longer roi but that’s just one part of the world

to answer your question, we have to stablish a base line. What's the meaning of PROFIT, for you? is winning 40$ a month what you would call profit???

Because that's the most you will get right now with an E3 paying 7 cents (suppose taxes included).

[xxcsu]

2 rigs with 12 gpus well optimezed (RX 580 and RX 570) doing 31,3 average mh/s, is doing around 376 mh/s. those rigs are using around 1800w from the wall.

Its mean your miners are not even close to optimized , your power draw at the wall should be under 1600 watts with a "optimized" 12x RX580 rig

to answer your question, we have to stablish a base line. What's the meaning of PROFIT, for you? is winning 40$ a month what you would call profit???

Because that's the most you will get right now with an E3 paying 7 cents (suppose taxes included).

Current profitability with Bitmain E3 and 0.07$/kWh is actually around 60$/months

40$ a months or 60$ a months / miner,  yes i would call that as a profit for sure
If my miners are paid back already , then i would call that 40-60$/months/miners as a big profit

[Piskeante]

2 rigs with 12 gpus well optimezed (RX 580 and RX 570) doing 31,3 average mh/s, is doing around 376 mh/s. those rigs are using around 1800w from the wall.

Its mean your miners are not even close to optimized , your power draw at the wall should be under 1600 watts with a "optimized" 12x RX580 rig

to answer your question, we have to stablish a base line. What's the meaning of PROFIT, for you? is winning 40$ a month what you would call profit???

Because that's the most you will get right now with an E3 paying 7 cents (suppose taxes included).

Current profitability with Bitmain E3 and 0.07$/kWh is actually around 60$/months

40$ a months or 60$ a months / miner,  yes i would call that as a profit for sure
If my miners are paid back already , then i would call that 40-60$/months/miners as a big profit

5 of my cards are doing 32,4 mh/s at 1240/2250 868mv. Are you sure what you are saying? i don't think so.

It's widely proved, that the best ratio performance - power consumption is 1240/2250 at something around 850 to 878mv depending on how good your card is.

i don't think it's wise for you to talk about "optimization" without actually pulling out numbers to discuss.

[Marvell2]

very nice opinions, thanks for all.

just to be clear. I bought my cards at 50% off "retail inflated prices". I got most of them at 220€ or 250$, so i was not rekt by the hype, and did not buy my cards at any costs. I did manage to buy only at prices i was ready to buy, and not obviously retail prices, that were much higher. In Spain most Sapphire RX 580 nitro+ 8gb were around 459€ or 528$ from the biggest retailer here in Spain, called PCCOMPONENTES.

the idea of heating my house is not an option, i mean, i live in Valencia, i see the sea through the window, so i hardly see 0ºC anytime. Last year, with higher prices, i used this system for heating. Nowadays is just not profitable anymore. it doesn't make sense.


What it's very obvious for me, is that no matter if you pay 0,05cnt/kWh or less. You are at a loss right now. You need ASIC + totally free electricity to get green money on your pocket. If that's not the case, you are losing money.

What is obvious for me, and many of you have said it, is that there is ACTUALLY NO FACT, REASON, ARGUMENT, TECHNICAL ANALYSIS OR WHATEVER to see ETH pumping in price. Noone has a clue, but we've had 9 months of a total crash, and the coins are at lows, but noone is buying. bulls are hardly able to hold small values for the coins. There is a huge resistance to pump the coins and i don't think it's reasonable to pump money on mining right now.

It makes no sense.  

what ?! even at 7 cents mining eth and xmr is profitable, yeah its not 3x profit like it was last two years its still profit. EU vat really inflates the price of gear so you will have a longer roi but that’s just one part of the world

to answer your question, we have to stablish a base line. What's the meaning of PROFIT, for you? is winning 40$ a month what you would call profit???

Because that's the most you will get right now with an E3 paying 7 cents (suppose taxes included).

only fools buy asics , i have 30 rigs so thats like having 30 E3’s. all the miners still in the game have either cheap power or thier rigs are paid off... or both. 30*40 is $1200 for basically just running ny rigs.

again $1200 only if i sell when the market is down x4 which to me is dumb in instelf so in reality when I do decide to sell i wil be selling at at least 3x which is closer to 4k or higher.

the problem is there are too many ppl like you who jumped on the bandwagon last year and are super shortsighted thinking about only the present.  even if i was braking even only i would still mine and so i could hold some cryto and pay part of thr power with my paycheck.

three years from now more newbs will post how are you guys able to mine with these expensive new fangeled gpus , not understanding that we have been through the head fake cycles already and made a kiling holding what we mined back in 2018’s bear market.

the fact that you even mention the E3 shows how little you know, anyone who really is into mining gpu style and speculating on different algos and coins would never buy something as one dimensional as the E3.  maybe batch one for $800 but these current batches? fuck no when I could build a rx 570 rig for only $400 more and mine like 20 other algos.

[sandra_x]

Some miners actually may not pay a dime on electricity bills as someone else pays for it or at significantly lower price than you indicated. There are also those take it as a hobby and hope someday the coins mined and hodl will someday be worth the effort. I cant help but wonder also what will happen when ethereum changes its consensus to POS

[philipma1957]

Some people believe Ethereum price will rise back to late 2017 levels again and continue mining because of this belief.
So it is up to them to spend more then what they are getting now in actual amounts at current price.

It is a type of fictional euphoria to them in allowing their current mining systems to continue to run while at a loss.
It is their money not yours so they can do what they want with themselves.

I dont believe people will spend $5 dollars of electric to get $3 dollars worth of coins when you can just buy on exchange and get the the full $5 dollars worth of coins.

I think we need to stop that assumption.

Duh kyc stops many from buying coins.

Many want clean hidden coins and will mine at a loss to get them.

I am giving you this example.  Drug dealer in South America makes 100,000 usd a day.

Money is not very clean.  He sets up a mine in the state of Washington USA .

It generates 50000 in coin a day but costs 55000 to do so.
So he loses 5000 a day. The reality is. For 5000 a day he turns 50000 in drug money to 50000 in mining money.

No more complicated then this.

Myself I have 4 x Vega 56s
I have 12x 1080ti
I have  1 x 2080
I have 2x 1050ti
I have 1x rx 560

I mine them at close to breakeven + 5% to a core wallet which means they are private for now.

[xxcsu]

2 rigs with 12 gpus well optimezed (RX 580 and RX 570) doing 31,3 average mh/s, is doing around 376 mh/s. those rigs are using around 1800w from the wall.

Its mean your miners are not even close to optimized , your power draw at the wall should be under 1600 watts with a "optimized" 12x RX580 rig

5 of my cards are doing 32,4 mh/s at 1240/2250 868mv. Are you sure what you are saying? i don't think so.

It's widely proved, that the best ratio performance - power consumption is 1240/2250 at something around 850 to 878mv depending on how good your card is.

i don't think it's wise for you to talk about "optimization" without actually pulling out numbers to discuss.

I posted my numbers for you earlier , as a example how ETH mining is still profitable for me Thats a 12x RX 580/8GB cards   In my example it was ETH11 rigs
To refresh your not super strong memory read this
Numbers, Pictures included
Oh BTW your math is awful on your calculation about E3 and a 0.07$ electricity price    

You calling members , ppl stupid bc they still mining , but you can not calculate how much income one E3 can generating for someone who is paying 0.07$/kWh Should i call you stupid ? no im not calling you stupid just saying ...

Your 12x RX580 rig optimized and still pulling 1800 watts ? work on that optimization a little bit more and get some real time knowledge about how to mod your bios with hex editing not just paste and copy mem straps you going to be surprised how much extra watts you can save , but you need a real bios mod
Posting pictures again for you , just for you I hope its helping you to understand some ppl more lucky , or more ? knowledgeable ? about "optimization" Just bc you are not capable to do something its doesn't mean its impossible

[Keres]

Some people believe Ethereum price will rise back to late 2017 levels again and continue mining because of this belief.
So it is up to them to spend more then what they are getting now in actual amounts at current price.

It is a type of fictional euphoria to them in allowing their current mining systems to continue to run while at a loss.
It is their money not yours so they can do what they want with themselves.

I dont believe people will spend $5 dollars of electric to get $3 dollars worth of coins when you can just buy on exchange and get the the full $5 dollars worth of coins.

I think we need to stop that assumption.

Duh kyc stops many from buying coins.

Many want clean hidden coins and will mine at a loss to get them.

I am giving you this example.  Drug dealer in South America makes 100,000 usd a day.

Money is not very clean.  He sets up a mine in the state of Washington USA .

It generates 50000 in coin a day but costs 55000 to do so.
So he loses 5000 a day. The reality is. For 5000 a day he turns 50000 in drug money to 50000 in mining money.

No more complicated then this.

Myself I have 4 x Vega 56s
I have 12x 1080ti
I have  1 x 2080
I have 2x 1050ti
I have 1x rx 560

I mine them at close to breakeven + 5% to a core wallet which means they are private for now.

This is actually a really good take on it hehe

Which cards to you prefer the most out of the ones you've got ?

i'm running RX 480 8GB at the moment, which are making a profit.
my Favorit  was always the R9 290, i got 5 rigs with 4 R9 290x still in use, however i've actually rented out the rigs (for free) to some local garages as "heaters" THEY get the heat and i get the eth
i miss the old R9 290x, they were so powerful and could mange almost anything

[Agozyen]

Some have free or cheap electricity, some are mining on speculation, some might be mining on equipment they don't own (like a school computer lab) and some just don't care.  My guess is that most people that are mining at a loss are hoarding ETH until it goes up again.

[Metroid]

Or is it that that hashrate is probably 70% ASIC??

I would say around that and most of them at the end of 2017 and the new ones doing 2.5ghs right now with gddr6, yes, gddr6, prototypes for a mass murder gpu miners.

[cidman]

no dude is right ur not very optimized
ive been running 470s since they came out and i run 28Mh@95-100watts
my 480s i run about 29Mh@110watts
im well into the green at $0.115 kwh
havent tested since phoenix miners new green kernels
tho im assuming its lower considering the cards are running quite a bit cooler
ur basically using an extra 50 watts per GPU for 1-2Mh boost above the typical 1075-1100 core settings that run around 29-30Mh
but really if ur anywhere near 1200 on the core ur wasting electricity for very small gains

also if "1240/2250 at something around 850 to 878mv" is correct im not sure how ur running at 1800watts
ur running a -200mv+ offset of those core settings stock voltages
maybe even up to -300mv which means u got phenomenal cards

[philipma1957]

Some people believe Ethereum price will rise back to late 2017 levels again and continue mining because of this belief.
So it is up to them to spend more then what they are getting now in actual amounts at current price.

It is a type of fictional euphoria to them in allowing their current mining systems to continue to run while at a loss.
It is their money not yours so they can do what they want with themselves.

I dont believe people will spend $5 dollars of electric to get $3 dollars worth of coins when you can just buy on exchange and get the the full $5 dollars worth of coins.

I think we need to stop that assumption.

Duh kyc stops many from buying coins.

Many want clean hidden coins and will mine at a loss to get them.

I am giving you this example.  Drug dealer in South America makes 100,000 usd a day.

Money is not very clean.  He sets up a mine in the state of Washington USA .

It generates 50000 in coin a day but costs 55000 to do so.
So he loses 5000 a day. The reality is. For 5000 a day he turns 50000 in drug money to 50000 in mining money.

No more complicated then this.

Myself I have 4 x Vega 56s
I have 12x 1080ti
I have  1 x 2080
I have 2x 1050ti
I have 1x rx 560

I mine them at close to breakeven + 5% to a core wallet which means they are private for now.

This is actually a really good take on it hehe

Which cards to you prefer the most out of the ones you've got ?

i'm running RX 480 8GB at the moment, which are making a profit.
my Favorit  was always the R9 290, i got 5 rigs with 4 R9 290x still in use, however i've actually rented out the rigs (for free) to some local garages as "heaters" THEY get the heat and i get the eth
i miss the old R9 290x, they were so powerful and could mange almost anything

well if the gear is paid off which mine are.  1080ti's with eth pill are good  the evga hybrid's  do 50 mh on eth  run quiet and have 2 years left on 3 year warranties.

[badbart]

Still profitable for me I pay $0.049 for power and my rigs are two years old.   But I don’t mine ether better options right now.   No idea who will mine eth when the block reward drops by 1/3.

[tg88]

Still profitable for me I pay $0.049 for power and my rigs are two years old.   But I don’t mine ether better options right now.   No idea who will mine eth when the block reward drops by 1/3.

The price will have to rise 1/3. 

[Marvell2]

Still profitable for me I pay $0.049 for power and my rigs are two years old.   But I don’t mine ether better options right now.   No idea who will mine eth when the block reward drops by 1/3.

The price will have to rise 1/3. 

I doubt it will rise that much , right at the fork but look at btc , its gone way way up since its last fork, from like $1200 to 6500

[sikke1]

...
the idea of heating my house is not an option, i mean, i live in Valencia, i see the sea through the window, so i hardly see 0ºC anytime.
...

We have -28ºC soon coming. Yay! THE WINTER is coming. Not in Spain... but north Europe. Government will approve income tax deductions of all your costs related to mining if you declare your earnings taxes from mining, you may deduct your costs. So even if we pay 0.08€ from electricity government allows you to declare that cost as income tax deductions as like it being business. Private person may deducts direct costs related to mining including hardware costs 100% and proven power costs 100% related to mining. So in the end you may deduct enough taxes for it to be wayyyyyyy profitable to mine rigs of already paid 1070 TI at 110w power. Lesson learned world is not fair where you may consider it to be unfair and unprofitable there will be places with subsidies to make it profitable. In the world of total freedom like crypto currencies things like *China* effect of not paying the fair share of costs will happen and inevitably you cannot compete with total freedom. You will lose.

Making statement mining is dying is not true. It's just mining farms with absurd level of profits will make it trough hard times. It's free economy.. it's Internet.

[exchangestolemycoins]

A spaceheater that also generates eth isn't so bad, y'know. Why is eth mining so incomprehensible? Could also be that somebody has access to a faster ethminer.