GPU Mining Is NOT Profitable In My HOUSE - October 2018 Mining Farm Update

[VoskCoin]

One year ago today my cryptocurrency mining farm was earning $4000 dollars after I paid my electric bill whereas now I am LOSING money monthly. Antminer On Amazon - http://geni.us/TSS6j

https://www.youtube.com/watch?v=ukoGzDfYZRE


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I am a huge advocate of cryptocurrency mining and especially GPU mining however mining at a medium scale out of my own house paying residential electric rates no longer makes any sense or cents.

I am selling the majority of my GPU mining rigs, and do not have many ASIC miners (most are here for the purpose of reviewing them) currently. I will continue to explore unique avenues of mining such as HDD mining, CPU mining, FPGA mining, and devices like the SkyCoin Miner. Because I have the infrastructure in place whenever a very profitable miner comes available whether it is a new graphics card or a new ASIC miner, I will deploy them in my crypto mining shed.

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[1715628638]

1715628638

[1715628638]

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[benjamoyne]

I'm just glad I invested my profits from last year into solar.

My L3+s get started at sunrise and shut down at sunset.

My other gpus rigs are the same.

Costs me sweet stuff all in electricity and I'm still getting some sort of profit out of them.

Plus I'll still have something for when profitability goes up.

[adaseb]

If you still want to support the Bitcoin network you should try and run a node at least.

Uses pretty much no electricity and keeps bitcoin decentralized. Depending what country you are in and what your bandwidth costs are it might be benefitial.

Yes you don't get paid anything to run a node but at least you can keep supporting the network.

[Agozyen]

I'm just glad I invested my profits from last year into solar.

My L3+s get started at sunrise and shut down at sunset.

My other gpus rigs are the same.

Costs me sweet stuff all in electricity and I'm still getting some sort of profit out of them.

Plus I'll still have something for when profitability goes up.

 Do you have net metering where you live?  If so you may be able to keep your mining equipment on a lot longer.  It depends on how much energy you can produce versus what you are consuming.  Also, I've been thinking of going solar myself...have to wait until the next bull run though.

[blockaid.net]

I'm just glad I invested my profits from last year into solar.

My L3+s get started at sunrise and shut down at sunset.

My other gpus rigs are the same.

Costs me sweet stuff all in electricity and I'm still getting some sort of profit out of them.

Plus I'll still have something for when profitability goes up.

 Do you have net metering where you live?  If so you may be able to keep your mining equipment on a lot longer.  It depends on how much energy you can produce versus what you are consuming.  Also, I've been thinking of going solar myself...have to wait until the next bull run though.

wise decision on going solar. initial investment is high but you can recover it easily. and the good thing about it - it's free for the rest of your life.

[lunobird]

I'm just glad I invested my profits from last year into solar.

My L3+s get started at sunrise and shut down at sunset.

My other gpus rigs are the same.

Costs me sweet stuff all in electricity and I'm still getting some sort of profit out of them.

Plus I'll still have something for when profitability goes up.

What's your projected ROI for solar? Assuming today's value as a worst case scenario?

[lunobird]

I think it's time Vosk. It's time. Time to walk up to your old boss, let him know you got rekt in crypto and beg for your old job back.

[Metroid]

Next month will get worse, eth is reducing the reward, so expect all the coins to follow.

[socks435]

This is one of the problems when investing in mining if you are living in the country with high electricity rate mining is not profitable, you can get negative earnings from mining so in the end selling all GPU to cut the loses.

However, in my case, I have a small mining rig and free source of electricity and until now I'm mining with my small mining rig and honestly I'd like to add more graphics card in the future and hoping GPU mining will be more profitable in the future.

[d57heinz]

This is one of the problems when investing in mining if you are living in the country with high electricity rate mining is not profitable, you can get negative earnings from mining so in the end selling all GPU to cut the loses.

However, in my case, I have a small mining rig and free source of electricity and until now I'm mining with my small mining rig and honestly I'd like to add more graphics card in the future and hoping GPU mining will be more profitable in the future.

Actually this is the problem with decentralization. When the entire world runs off a different rate you cannot have decentralization when the goal is low cost transactions.  Here’s the thing. Just because I dump all my hw. Don’t think I’m goin anywhere. I’ll be here for the next run to let people know just how this system works. At least for those that don’t have a million dollars and nuclear power plant at their disposal.  If you have to buy solar to mine you’ve already lost the battle. Roi will never happen.  Have some of these guys touting their solar to run some numbers for ya.  Just off the back of a napkin It’s laughable.  Anyway it’s game over for the little guys.  This will be no different than current system except some new people are now the first movers and could see some advantage for that.  Good for them. Let’s see if they do anything good in the world with that wealth. Most of what I see is selfish posts on when they can buy a lambo.  When moon lol.  Once I step back I see just how childish this all is.  And boy I bet I seemed stupid to my family for even believing in this shit.  Of course now that I walk away knowing that it will be pushed along because btc is tooo big to fail now.  Like everything else in this world.  What’s popular is not always right and what’s right is not always popular.(Einstein)

The system it has been puprported to replace is being ran by the very same people.  How did we think this would play out?   Ugh the more I think about this the more I wish someone would have smacked me back to reality.

BR

[uralcryptocoin]

One year ago today my cryptocurrency mining farm was earning $4000 dollars after I paid my electric bill whereas now I am LOSING money monthly. Antminer On Amazon - http://geni.us/TSS6j

https://www.youtube.com/watch?v=ukoGzDfYZRE
.....

VoskCoin Gear - https://teespring.com/stores/voskcoin

I am a huge advocate of cryptocurrency mining and especially GPU mining however mining at a medium scale out of my own house paying residential electric rates no longer makes any sense or cents.

I am selling the majority of my GPU mining rigs, and do not have many ASIC miners (most are here for the purpose of reviewing them) currently. I will continue to explore unique avenues of mining such as HDD mining, CPU mining, FPGA mining, and devices like the SkyCoin Miner. Because I have the infrastructure in place whenever a very profitable miner comes available whether it is a new graphics card or a new ASIC miner, I will deploy them in my crypto mining shed.

Mining Rig Parts IN STOCK on Amazon - http://geni.us/WQd7cCs

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It's sad to hear. If it's not a secreat what is your electricity tariff?
In my region is still can rent a placement in datacenter for my GPU rigs but the bill reachs now 80% of total rig income. And unfortunatelly month by month the income reduces. If the situation will not change I also will have to stop my rigs...

[fudster]

Can you guys post what kind of solar panels are you using to support such power crunching machines you have?
I have seen Ognasty's wind turbine and I think its much worth investing than solar panel in my opinion because just when winder came, there isn't much power from the sun and win can be a lot sustainable. How much power does a Computer with 8 GPUs on it?

[EdgeOfSanity]

You must have really high electric rates. At $.095/kwh its still profitable for me but i'm not selling. Now is the time for accumulation.

[Batelk]

You must have really high electric rates. At $.095/kwh its still profitable for me but i'm not selling. Now is the time for accumulation.

Most people in Europe will pay around double of that figure. So it is not profitable for them.

[adaseb]

Yes it might be profitable at $0.10/kwh but to what extent?

When 80% of all your profit is going to electricity is it really worth mining?

I did the calculation and most have the RX 470/570 which uses like 130 Watts so at $0.10/kwh you make about $0.12/day.

However after fees, bank fees, errors, GPU downtime, etc you probably end up making a nickel per GPU. Is it really worth mining for that much?

[EdgeOfSanity]

Yes it might be profitable at $0.10/kwh but to what extent?

When 80% of all your profit is going to electricity is it really worth mining?

I did the calculation and most have the RX 470/570 which uses like 130 Watts so at $0.10/kwh you make about $0.12/day.

However after fees, bank fees, errors, GPU downtime, etc you probably end up making a nickel per GPU. Is it really worth mining for that much?

at .10/kwh roughly 40-50% of your income goes to electricity if you know how to optimize your mining rigs properly. This of course depends on the algo you're mining but most will fall in that range. The market would need to drop another 50% or so from current levels while nethash remains the same to hit breakeven. That includes all the fees incurred for exchanging to USD.

I've looked at this pretty closely in recent months because if it happens i'll shut down my mine and if it stays low for more than a month i'll sell the equipment.

[Metroid]

This is the best time to buy coins, soon people will start buying all the coins which are popular and almost not profitable. Price of those coins will increase more than 10x and mining will return to 1 usd per card.

[adaseb]

Yes it might be profitable at $0.10/kwh but to what extent?

When 80% of all your profit is going to electricity is it really worth mining?

I did the calculation and most have the RX 470/570 which uses like 130 Watts so at $0.10/kwh you make about $0.12/day.

However after fees, bank fees, errors, GPU downtime, etc you probably end up making a nickel per GPU. Is it really worth mining for that much?

at .10/kwh roughly 40-50% of your income goes to electricity if you know how to optimize your mining rigs properly. This of course depends on the algo you're mining but most will fall in that range. The market would need to drop another 50% or so from current levels while nethash remains the same to hit breakeven. That includes all the fees incurred for exchanging to USD.

I've looked at this pretty closely in recent months because if it happens i'll shut down my mine and if it stays low for more than a month i'll sell the equipment.

I am not sure which GPU you are referring to.

But with an RX 470 which hashes at around 28Mhs nets about 0.40 profit where 0.30 is electricity cost alone.

Not sure how the 1080ti fares but with those your main issue is to ROI the GPU first so you got more issues to worry about than just the GPU cost.

[hiphoptrail]

you are only finding this out now???

i guess you have been squeezing as much click bate youtube money you could.

going from 1 video with pros and a short time later to this is crazy bro.

sell more shirts.

[lunobird]

you are only finding this out now???

i guess you have been squeezing as much click bate youtube money you could.

going from 1 video with pros and a short time later to this is crazy bro.

sell more shirts.

lol..

mans gotta eat,   let him earn whatever chipotle burrito he can get. +1 for Tails

[EdgeOfSanity]

Yes it might be profitable at $0.10/kwh but to what extent?

When 80% of all your profit is going to electricity is it really worth mining?

I did the calculation and most have the RX 470/570 which uses like 130 Watts so at $0.10/kwh you make about $0.12/day.

However after fees, bank fees, errors, GPU downtime, etc you probably end up making a nickel per GPU. Is it really worth mining for that much?

at .10/kwh roughly 40-50% of your income goes to electricity if you know how to optimize your mining rigs properly. This of course depends on the algo you're mining but most will fall in that range. The market would need to drop another 50% or so from current levels while nethash remains the same to hit breakeven. That includes all the fees incurred for exchanging to USD.

I've looked at this pretty closely in recent months because if it happens i'll shut down my mine and if it stays low for more than a month i'll sell the equipment.

I am not sure which GPU you are referring to.

But with an RX 470 which hashes at around 28Mhs nets about 0.40 profit where 0.30 is electricity cost alone.

Not sure how the 1080ti fares but with those your main issue is to ROI the GPU first so you got more issues to worry about than just the GPU cost.

My mine is roughly a 50/50 split of 1070tis and 1080tis. My equipment is paid off and has been since March. I wouldn't try to buy equipment right now if you haven't paid off whatever you have currently.

[TheHas]

Economists love their equilibrium! Alot of people are at the point where after electricity costs, it is pretty much a wash - no profit no loss.

So there would be little incentive for someone to build a rig today, particularly as better GPUs come out, FPGAs, ASICs and so on all put a dampener on potential profits. And lets not even talk about Eth (one day) moving to PoS... 

I'll keep mining and perhaps we'll have another upswing in the not too distant future.

[toptek12]

I'm just glad I invested my profits from last year into solar.

My L3+s get started at sunrise and shut down at sunset.

My other gpus rigs are the same.

Costs me sweet stuff all in electricity and I'm still getting some sort of profit out of them.

Plus I'll still have something for when profitability goes up.

I do the same thing with my solar if it's a bad day for the sun like mostly rain and no SUN i don't turn mine on ,I know it works on rainy days or during most any light of day but on the weak days, i take a break . .

with the winter coming it should work even better , less light because of shorter days means less mining but more back to the power company.

if  Vos was indeed making 4k a day a week or month or whatever why didn't he take at least 15k of that and invest into solar. his system would be paid for with Rebates and tax credits on his house, were he lived in the pictures Ive seen, his house can support solar .. he must have thought it was going to last lol.

[toptek12]

Can you guys post what kind of solar panels are you using to support such power crunching machines you have?
I have seen Ognasty's wind turbine and I think its much worth investing than solar panel in my opinion because just when winder came, there isn't much power from the sun and win can be a lot sustainable. How much power does a Computer with 8 GPUs on it?

not to sure how good it is.when I bought it i was told it was state of art then.
no they work better in the winter but the down side less day light shorter days but they work better when it's cold .

ENV-IQ-AM1-240M / CELLMODEM-01 M    Enphase Energy    1
Inverter    IQ6    Enphase Energy    30
Module    Q-Cells 295 Mono    Q-Cells    30
Racking       IronRidge    
Inverter    IQ6    Enphase Energy    30
Module    Q-Cells 295 Mono    Q-Cells    30
Racking       IronRidge    

[d57heinz]

This is the best time to buy coins, soon people will start buying all the coins which are popular and almost not profitable. Price of those coins will increase more than 10x and mining will return to 1 usd per card.

Past performance doesn’t guarantee future returns.  Don’t invest more than you can afford to lose. These two phrases are synonymous with crypto!. (Cuz we all know there are far smarter players in this game. Only here to fleece the uninformed—->don’t be this guy). There are far better investsments ie (yourself) that one can put this kind of time and resource into and get so much more out of it.  Your gain in crypto is someone’s  loss.  Does that make you feel good.  I have a disdain for markets.  No one should be able to make money off price movements.  How is that even a thing.  How does one get to steal the wealth created by others.  Why do we as a society allow this behavior.  I’d say it’s because we have too many unwise to the situation.  When we have banks the likes of Wells Fargo making billions off fraud and only fined a percentage of the gains is really a fucking joke.  Makes the whole system laughable in my eyes.  Crypto being easily manipulated by the Chinese makes this no better.  In order for crypto to work you have to have a world that gives two shits about facts.  Well facts are bad for business.  So what do we do about this shitstorm we have created for ourselves?   I’d say first step is recognizing there is a problem.  Step out of your bubbles/comfort zone once in a while.  Stop ignoring facts for financial gain.  Br

[netto7]

you are only finding this out now???

i guess you have been squeezing as much click bate youtube money you could.

going from 1 video with pros and a short time later to this is crazy bro.

sell more shirts.

lol..

mans gotta eat,   let him earn whatever chipotle burrito he can get. +1 for Tails

yeah you are right everyone gotta eat.

[stomachgrowls]

This is the best time to buy coins, soon people will start buying all the coins which are popular and almost not profitable. Price of those coins will increase more than 10x and mining will return to 1 usd per card.

-snip-

Sad truth but people do keep blinding themselves with those facts and instead like to continue on the things that they do believe out.

This is the best time to buy coins, soon people will start buying all the coins which are popular and almost not profitable. Price of those coins will increase more than 10x and mining will return to 1 usd per card.

I would prefer to buy than to mine the coin which i do know that im just mining on paying the electricity cost.

[VoskCoin]

I think it's time Vosk. It's time. Time to walk up to your old boss, let him know you got rekt in crypto and beg for your old job back.

You'll leave crypto before I do

[VoskCoin]

Next month will get worse, eth is reducing the reward, so expect all the coins to follow.

Agreed, not trying to be negative lately but this will really slap some people in the face lol

[VoskCoin]

Yes it might be profitable at $0.10/kwh but to what extent?

When 80% of all your profit is going to electricity is it really worth mining?

I did the calculation and most have the RX 470/570 which uses like 130 Watts so at $0.10/kwh you make about $0.12/day.

However after fees, bank fees, errors, GPU downtime, etc you probably end up making a nickel per GPU. Is it really worth mining for that much?

this essentially sums it up, & this number will vary for everyone but at some point it simply does not make sense to invest the time and money into mining --- For many it is still a lucrative endeavor, or perhaps speculation mining is allowing you to still do very well --- however the overall bad health of crypto mining profitability cannot be ignored.

[VoskCoin]

you are only finding this out now???

i guess you have been squeezing as much click bate youtube money you could.

going from 1 video with pros and a short time later to this is crazy bro.

sell more shirts.

lol..

mans gotta eat,   let him earn whatever chipotle burrito he can get. +1 for Tails

thanks for the +1 luno lol

& hiphoptrail you feel good now? I hope your life gets better man, because if someone trying to create quality cryptocurrency content to do my small part in moving this sector forward bothers you . . IDK what to tell ya!

There's a difference between my as least bias as possible view vs what I will do with my personal mining farm.

[VoskCoin]

If you still want to support the Bitcoin network you should try and run a node at least.

Uses pretty much no electricity and keeps bitcoin decentralized. Depending what country you are in and what your bandwidth costs are it might be benefitial.

Yes you don't get paid anything to run a node but at least you can keep supporting the network.

I think this is great advice and one of my goals by year end is to get some nodes up (no profit nodes) to support some of the coins I like / want to see do well -- BTC being one of them

[VoskCoin]

I'm just glad I invested my profits from last year into solar.

My L3+s get started at sunrise and shut down at sunset.

My other gpus rigs are the same.

Costs me sweet stuff all in electricity and I'm still getting some sort of profit out of them.

Plus I'll still have something for when profitability goes up.

I do the same thing with my solar if it's a bad day for the sun like mostly rain and no SUN i don't turn mine on ,I know it works on rainy days or during most any light of day but on the weak days, i take a break . .

with the winter coming it should work even better , less light because of shorter days means less mining but more back to the power company.

if  Vos was indeed making 4k a day a week or month or whatever why didn't he take at least 15k of that and invest into solar. his system would be paid for with Rebates and tax credits on his house, were he lived in the pictures Ive seen, his house can support solar .. he must have thought it was going to last lol.

Solar is not the amazing investment many people make it out to be -- do you personally run solar? & if so to support how many rigs (power)?

I'm not interested in keeping my house for more than another year or two max --- so anyway you cut it solar was never the right decision for me

[dagarair]

Yes it might be profitable at $0.10/kwh but to what extent?

When 80% of all your profit is going to electricity is it really worth mining?

I did the calculation and most have the RX 470/570 which uses like 130 Watts so at $0.10/kwh you make about $0.12/day.

However after fees, bank fees, errors, GPU downtime, etc you probably end up making a nickel per GPU. Is it really worth mining for that much?

this essentially sums it up, & this number will vary for everyone but at some point it simply does not make sense to invest the time and money into mining --- For many it is still a lucrative endeavor, or perhaps speculation mining is allowing you to still do very well --- however the overall bad health of crypto mining profitability cannot be ignored.

Are you guys fair weather miners?  I'm in it if i'm making 5 cents per card a day because i have FAITH that crypto will emerge stronger in the future.  If you have the equipment and you are not mining at even a 1 cent profit i don't get it.  I get it at a loss, i guess (even though i still mine at a loss sometimes) but even at a 1 cent profit IF you have the equipment it's worth the risk in my opinion if you have the ability to keep the coin at these prices.  If you have to sell it to pay your bills, then I get it i guess, but then you probably should not have been mining in the first place because that's in essence like living check to check.

That's my view anyway.  

PS Solar is retarded.  

[VoskCoin]

Yes it might be profitable at $0.10/kwh but to what extent?

When 80% of all your profit is going to electricity is it really worth mining?

I did the calculation and most have the RX 470/570 which uses like 130 Watts so at $0.10/kwh you make about $0.12/day.

However after fees, bank fees, errors, GPU downtime, etc you probably end up making a nickel per GPU. Is it really worth mining for that much?

this essentially sums it up, & this number will vary for everyone but at some point it simply does not make sense to invest the time and money into mining --- For many it is still a lucrative endeavor, or perhaps speculation mining is allowing you to still do very well --- however the overall bad health of crypto mining profitability cannot be ignored.

Are you guys fair weather miners?  I'm in it if i'm making 5 cents per card a day because i have FAITH that crypto will emerge stronger in the future.  If you have the equipment and you are not mining at even a 1 cent profit i don't get it.  I get it at a loss, i guess (even though i still mine at a loss sometimes) but even at a 1 cent profit IF you have the equipment it's worth the risk in my opinion if you have the ability to keep the coin at these prices.  If you have to sell it to pay your bills, then I get it i guess, but then you probably should not have been mining in the first place because that's in essence like living check to check.

That's my view anyway.  

PS Solar is retarded.  

I just want to come over, smash some blocks and grill steaks my man!

dagarair - source : https://bitcointalk.org/index.php?topic=4789787.msg43227027#msg43227027

[dagarair]

Anytime brother well except for next week, kids bday! 

Door is always open for ya.

[hiphoptrail]

you are only finding this out now???

i guess you have been squeezing as much click bate youtube money you could.

going from 1 video with pros and a short time later to this is crazy bro.

sell more shirts.

lol..

mans gotta eat,   let him earn whatever chipotle burrito he can get. +1 for Tails

thanks for the +1 luno lol

& hiphoptrail you feel good now? I hope your life gets better man, because if someone trying to create quality cryptocurrency content to do my small part in moving this sector forward bothers you . . IDK what to tell ya!

There's a difference between my as least bias as possible view vs what I will do with my personal mining farm.

I'm moving this industry forward unlike you prostitution it like you...trust me son

[Thekool1s]

I stopped mining around 2 months ago. I have 0.15$/Kwh, I was mining for peanuts but I had it enough and Sold out 80% of my farm. I occasionally mine on my remaining rigs. I was thinking about going solar but it doesn't make any sense to me. I will be hardly making my ROI in the long run. The only value I saw in solar was I could completely go grid-free after breaking even and selling out the farm. But I couldn't invest in it due to different issues. I have had my fair share of 'speculative mining' too. It is time to move on I guess.

[BillieCrypt]

Mining on video cards is currently profitable only with a low price of electricity of about 6-7 cents per kilowatt and below. At the same time, the profit is very small and the number of profitable coins for mining has significantly decreased due to the appearance of many ASICs.

[dagarair]

Mining on video cards is currently profitable only with a low price of electricity of about 6-7 cents per kilowatt and below. At the same time, the profit is very small and the number of profitable coins for mining has significantly decreased due to the appearance of many ASICs.

about 12 cents is still profitable on eth on a 470 doing 28 hash.  Not sure what you are talking about.  

[MagicSmoker]

I turned off everything except for a rig with RX560/570 cards that are mining a CN-fork coin and just barely making $0.20/day of profit after electricity. If I were selling what I mined on a daily basis this wouldn't be worth the bother, but since I am hodling the coins the modest profitability means I am making more coins per day than I could get from buying for the same cost as the electricity.

However, if the profit turns into a loss - as it has with the Equihash and Ethash coins I was mining - then I will turn this last rig off, too, and buy coins instead.

[Metroid]

The best thing is to buy coins directly cause it tell us that these coins will have their prices multiplied by many times in the coming months. Do not be surprised if you see eth for $1500 march next year.

[dagarair]

The best thing is to buy coins directly cause it tell us that these coins will have their prices multiplied by many times in the coming months. Do not be surprised if you see eth for $1500 march next year.

This I agree with.  If you are not into mining already, take all that $ you were going to spend on a miner and buy coins with it.

[Thekool1s]

Mining on video cards is currently profitable only with a low price of electricity of about 6-7 cents per kilowatt and below. At the same time, the profit is very small and the number of profitable coins for mining has significantly decreased due to the appearance of many ASICs.

about 12 cents is still profitable on eth on a 470 doing 28 hash.  Not sure what you are talking about.  

You are trolling, right? $4 after a month of mining assuming that the price won't go down is stupid, Mining for making a 'Profit' doesn't make any sense right now. The only way you can justify mining at those rates is if you are looking for virgin coins. That way paying a low premium does make sense Other than that it's pure 'speculative mining' which I haven't been a fan of lately.

[Metroid]

The best thing is to buy coins directly cause it tell us that these coins will have their prices multiplied by many times in the coming months. Do not be surprised if you see eth for $1500 march next year.

This I agree with.  If you are not into mining already, take all that $ you were going to spend on a miner and buy coins with it.

Pumps and dumps happen very fast, last time eth rose many times in few days, from  $7 to $50 and from $50 to $350 and then from $350 to $1400 and then from $1400 to $600 and then from $600 to 200, huge jumps and this time will not be any different, I predict the next eth jump to $700 and then from $700 to $1500 and then from $1500 to $5000 and then $5000 to $9000 and then a crash to $3500.

[dagarair]

Mining on video cards is currently profitable only with a low price of electricity of about 6-7 cents per kilowatt and below. At the same time, the profit is very small and the number of profitable coins for mining has significantly decreased due to the appearance of many ASICs.

about 12 cents is still profitable on eth on a 470 doing 28 hash.  Not sure what you are talking about.  

You are trolling, right? $4 after a month of mining assuming that the price won't go down is stupid, Mining for making a 'Profit' doesn't make any sense right now. The only way you can justify mining at those rates is if you are looking for virgin coins. That way paying a low premium does make sense Other than that it's pure 'speculative mining' which I haven't been a fan of lately.

spot on!

Well I'll tell you now from me mining that i I HAVE NOT LOST $ ANY MONTH during this downturn.  If you all have then I don't know what to tell you.  Numbers don't lie.  Either way, I could give a damn what you all do.  I know where my break even is and even if I ever dip a below it my machines stay on, BECAUSE I KNOW prices will rise you just have to be patient.

[angelslayer]

The best thing is to buy coins directly cause it tell us that these coins will have their prices multiplied by many times in the coming months. Do not be surprised if you see eth for $1500 march next year.

This I agree with.  If you are not into mining already, take all that $ you were going to spend on a miner and buy coins with it.

Pumps and dumps happen very fast, last time eth rose many times in few days, from  $7 to $50 and from $50 to $350 and then from $350 to $1400 and then from $1400 to $600 and then from $600 to 200, huge jumps and this time will not be any different, I predict the next eth jump to $700 and then from $700 to $1500 and then from $1500 to $5000 and then $5000 to $9000 and then a crash to $3500.

After all the hype, the crypto market will not be as wild as a year ago, I believe they will gradually and slowly go up and if there's any FUD, it will bring down the price sharply again, the crypto market still need at least 1-2 years to be more stable, this is my opinion only.

[nsummy]

Mining on video cards is currently profitable only with a low price of electricity of about 6-7 cents per kilowatt and below. At the same time, the profit is very small and the number of profitable coins for mining has significantly decreased due to the appearance of many ASICs.

about 12 cents is still profitable on eth on a 470 doing 28 hash.  Not sure what you are talking about.  

You are trolling, right? $4 after a month of mining assuming that the price won't go down is stupid, Mining for making a 'Profit' doesn't make any sense right now. The only way you can justify mining at those rates is if you are looking for virgin coins. That way paying a low premium does make sense Other than that it's pure 'speculative mining' which I haven't been a fan of lately.

spot on!

Well I'll tell you now from me mining that i I HAVE NOT LOST $ ANY MONTH during this downturn.  If you all have then I don't know what to tell you.  Numbers don't lie.  Either way, I could give a damn what you all do.  I know where my break even is and even if I ever dip a below it my machines stay on, BECAUSE I KNOW prices will rise you just have to be patient.

I think the difference is that you have a giant mining facility.  You obviously are prepared to mine through the good and the bad.  For the average miner though I don't think the ends justify the means right now.  Yes netting 50 cents per card is still profit, but your time is worth something, and equipment depreciates.  Personally I think by the time the crypto market rebounds, there will be a whole new generation of GPUs out there.  I can definitely see why people are selling off their hardware to wait the storm out.

Or let me put it this way.  In the  time spent researching new coins, downloading new miners, driver updates treaks etc, most miners could make more daily doing tasks on Amazon Mechanical Turk 

[dagarair]

Don't get me wrong I agree that profits suck right now, but they are still profits.  I have always said, if you have to sell coin now to pay your electric bill then sell your stuff off as you will not make it.  If you can hold it, keep on mining. 

[angelslayer]

Don't get me wrong I agree that profits suck right now, but they are still profits.  I have always said, if you have to sell coin now to pay your electric bill then sell your stuff off as you will not make it.  If you can hold it, keep on mining. 

Totally agree with it!

Mining is a different ball game in the crypto world, that miners do not always seek for short-term profits, if you are, you need to go to the crypto exchange and trade them, then you get your returns faster. As a miner, you hold as many coins as possible, when the market is bad, that means good for mining, as you are able to mine more amount of coins or tokens because more ppl are giving up in mining, we get the chance from here...

Think differently and you will be profitable when the market comes back, maybe another 1 year or so...

[dagarair]

Don't get me wrong I agree that profits suck right now, but they are still profits.  I have always said, if you have to sell coin now to pay your electric bill then sell your stuff off as you will not make it.  If you can hold it, keep on mining. 

Totally agree with it!

Mining is a different ball game in the crypto world, that miners do not always seek for short-term profits, if you are, you need to go to the crypto exchange and trade them, then you get your returns faster. As a miner, you hold as many coins as possible, when the market is bad, that means good for mining, as you are able to mine more amount of coins or tokens because more ppl are giving up in mining, we get the chance from here...

Think differently and you will be profitable when the market comes back, maybe another 1 year or so...

That's the plan!  Hopefully sooner now that Fidelity Investments started a new crypto branch!

[Thekool1s]

Well I'll tell you now from me mining that i I HAVE NOT LOST $ ANY MONTH during this downturn.  If you all have then I don't know what to tell you.  Numbers don't lie.  Either way, I could give a damn what you all do.  I know where my break even is and even if I ever dip a below it my machines stay on, BECAUSE I KNOW prices will rise you just have to be patient.

Even with 0.15$/Kwh I wasn't either. I was still 'racking' in like $15 per rig after the costs. But the time I had to spend diagnosing things wasn't worth it all. Sometimes a riser would malfunction others the pool would just temporary ban my rigs for not sending in enough shares. I had GTX 1070s in all of my rigs. It's just that I could do better things with my time than diagnosing different issues every other day.

Or let me put it this way.  In the  time spent researching new coins, downloading new miners, driver updates treaks etc, most miners could make more daily doing tasks on Amazon Mechanical Turk

This! I was losing time for my freelancing. I am glad I took the right step.

Don't get me wrong I agree that profits suck right now, but they are still profits.  I have always said, if you have to sell coin now to pay your electric bill then sell your stuff off as you will not make it.  If you can hold it, keep on mining.

For me it was from day 1, All of my costs were getting covered by mining. The bull run helped me achieve the ROI thankfully. But I am a bit tired of 'speculative mining' i have nothing against people who are doing it. I respect their decision But I have had my fair share of the mining venture and currently, mining isn't for me.

[Metroid]

Even with 0.15$/Kwh I wasn't either. I was still 'racking' in like $15 per rig after the costs. But the time I had to spend diagnosing things wasn't worth it all. Sometimes a riser would malfunction others the pool would just temporary ban my rigs for not sending in enough shares. I had GTX 1070s in all of my rigs. It's just that I could do better things with my time than diagnosing different issues every other day.

People as stupid as they are, they do not count things like that, if whattomine tell them they are making $0.15 per card they think they are making that, they are that stupid cause they might be probably negative -$0.30 per card, your hashrate is never 100%, sometimes is not even 80% real, if you have 1000mh's, your true hashrate is 25% less in the pool + risers and other things that you need to spend for everything to be functioning. The truth is, if 1 x gpu is making you less than $0.60 after electricity costs then forget mining, is time to buy coins instead.

[d57heinz]

Even with 0.15$/Kwh I wasn't either. I was still 'racking' in like $15 per rig after the costs. But the time I had to spend diagnosing things wasn't worth it all. Sometimes a riser would malfunction others the pool would just temporary ban my rigs for not sending in enough shares. I had GTX 1070s in all of my rigs. It's just that I could do better things with my time than diagnosing different issues every other day.

People as stupid as they are, they do not count things like that, if whattomine tell them they are making $0.15 per card they think they are making that, they are that stupid cause they might be probably negative -$0.30 per card, your hashrate is never 100%, sometimes is not even 80% real, if you have 1000mh's, your true hashrate is 25% less in the pool + risers and other things that you need to spend for everything to be functioning. The truth is, if 1 x gpu is making you less than $0.60 after electricity costs then forget mining, is time to buy coins instead.

No what’s stupid is doing the same thing over expecting different results. Who in their right mind buys into crypto knowing the big players have the whole system gamed. And at any time it can be dumped 70-90%.  I get it one likes to gamble but I mean come on.  If you think rational investors are on board with this then good luck.  But as we know people run off emotion and opinions not facts so I suppose bitcoin and the likes could goto 1mil$ per coin. But then when we see the blood in the streets we have people homeless in mass quantities.  Ohh boy I can get really get behind that. Fleecing my neighbors. That makes me feel all warm inside right?  This is such a joke. Buy the coins. Nothing has changed except more manipulators are in the game. Buyer beware!

[VoskCoin]

Even with 0.15$/Kwh I wasn't either. I was still 'racking' in like $15 per rig after the costs. But the time I had to spend diagnosing things wasn't worth it all. Sometimes a riser would malfunction others the pool would just temporary ban my rigs for not sending in enough shares. I had GTX 1070s in all of my rigs. It's just that I could do better things with my time than diagnosing different issues every other day.

People as stupid as they are, they do not count things like that, if whattomine tell them they are making $0.15 per card they think they are making that, they are that stupid cause they might be probably negative -$0.30 per card, your hashrate is never 100%, sometimes is not even 80% real, if you have 1000mh's, your true hashrate is 25% less in the pool + risers and other things that you need to spend for everything to be functioning. The truth is, if 1 x gpu is making you less than $0.60 after electricity costs then forget mining, is time to buy coins instead.

I do think people take WTM values way too literally, as you said you could be making less . . or you could be making more

However some factors people always forget or like to leave out are --- you running these inside your home? how is that impacting your AC? Sure it can save you on heat some, but as someone who did that all last winter -- its difficult to do without getting hot/cold spots depending on your home.

I do think as far as heating goes it is perfect for a garage esp. w/ an uninsulated door as it'll bring the overall temp up to a nice area

But anyway my point was just that there are variations / luck + cooling cost of home and/or supplemental equipment like exhaust fans + the incredible time sink it is once a rig goes down, or even deploying a rig just to make a couple dollars a day with hardware that cost a couple thousand.


Disclaimer I do not mean to sound so negative, obviously I love mining and a huge fan of it -- but personally for me, GPU mining doesn't bring me in enough value w/ my setup / electric rate and these current low crypto prices.

[HashAltcoin]

try FPGA miner to mine shitcoin

[Metroid]

I do think people take WTM values way too literally, as you said you could be making less . . or you could be making more

You never make more, always much much less, if whattomine says $0.15 per gpu then that means minus/negative $0.30 cause $0.15 never pays anything in the end cost, I mean, if a gpu is earning $2 per day then to pay for extra things that is $0.30 per gpu + the electricity which is around $0.40 per gpu if you pay $0.10 per kwh, in the end is $0.30 + $0.40 =$0.70, that is the cost with electricity per gpu just to keep it functioning. See my point, that is why I always tell people, if a gpu is making less than $1 per day then mining is not even worth thinking cause in the end you will be making only $0.30 per gpu and if the gpu cost $300 then it makes the roi to be 1000 days, that is if a gpu is making $1 per day, at moment is making $0.05 per day per gpu net not counting the extra things, electricity included. A rx 570 was making 10 usd per day and that was bullshit and so is this, very extreme both sides, I myself was hoping profitability per gpu would stay at least $1.30 for many years, that way asics companies would not bother about it, sadly there was nothing anybody could do cause common sense was out of control.

The question is how long this nonsense will last, profitability cant stay like this, are people so beyond stupid to sell their coins at this price. It seems they are.

PS: I have been buying coins and will keep till January 2019 and then hold until 2021. This is the best time to buy.

[VoskCoin]

I do think people take WTM values way too literally, as you said you could be making less . . or you could be making more

You never make more, always much much less, if whattomine says $0.15 per gpu then that means minus/negative $0.30 cause $0.15 never pays anything in the end cost, I mean, if a gpu is earning $2 per day then to pay for extra things that is $0.30 per gpu + the electricity which is around $0.40 per gpu if you pay $0.10 per kwh, in the end is $0.30 + $0.40 =$0.70, that is the cost with electricity per gpu just to keep it functioning. See my point, that is why I always tell people, if a gpu is making less than $1 per day then mining is not even worth thinking cause in the end you will be making only $0.30 per gpu and if the gpu cost $300 then it makes the roi to be 1000 days, that is if a gpu is making $1 per day, at moment is making $0.05 per day per gpu net not counting the extra things, electricity included. A rx 570 was making 10 usd per day and that was bullshit and so is this, very extreme both sides, I myself was hoping profitability per gpu would stay at least $1.30 for many years, that way asics companies would not bother about it, sadly there was nothing anybody could do cause common sense was out of control.

The question is how long this nonsense will last, profitability cant stay like this, are people so beyond stupid to sell their coins at this price. It seems they are.

PS: I have been buying coins and will keep till January 2019 and then hold until 2021. This is the best time to buy.

FWIW I have beaten WTM figures significantly many times, and been under them many times as well

What do you think are proper realistic earnings for a healthy gpu mining community? 1 dollar per day after electric paid? 50 cents? obviously a ton of variables but interested to hear more of your thoughts on that

[Meteorite777]

I do think people take WTM values way too literally, as you said you could be making less . . or you could be making more

You never make more, always much much less, if whattomine says $0.15 per gpu then that means minus/negative $0.30 cause $0.15 never pays anything in the end cost, I mean, if a gpu is earning $2 per day then to pay for extra things that is $0.30 per gpu + the electricity which is around $0.40 per gpu if you pay $0.10 per kwh, in the end is $0.30 + $0.40 =$0.70, that is the cost with electricity per gpu just to keep it functioning. See my point, that is why I always tell people, if a gpu is making less than $1 per day then mining is not even worth thinking cause in the end you will be making only $0.30 per gpu and if the gpu cost $300 then it makes the roi to be 1000 days, that is if a gpu is making $1 per day, at moment is making $0.05 per day per gpu net not counting the extra things, electricity included. A rx 570 was making 10 usd per day and that was bullshit and so is this, very extreme both sides, I myself was hoping profitability per gpu would stay at least $1.30 for many years, that way asics companies would not bother about it, sadly there was nothing anybody could do cause common sense was out of control.

The question is how long this nonsense will last, profitability cant stay like this, are people so beyond stupid to sell their coins at this price. It seems they are.

PS: I have been buying coins and will keep till January 2019 and then hold until 2021. This is the best time to buy.

FWIW I have beaten WTM figures significantly many times, and been under them many times as well

What do you think are proper realistic earnings for a healthy gpu mining community? 1 dollar per day after electric paid? 50 cents? obviously a ton of variables but interested to hear more of your thoughts on that

Vosk,

I don't think it makes much sense to compare things in terms of flat $USD per day. Much more logical to compare in terms of ROI as we have been doing for years, that equates all things and keeps it relative by eliminating variables such as card price, hashrate, electricity price, etc.

I too have beaten and been under WTM figures many times. I think something people need to realize is that unless they are literally selling every day, they are chasing the coins that have already pumped on WTM. Rather than mine RVN right now, get low amount of coins because of high difficulty surge, and then only to get dumped on because price doubled over a day or two; I'd rather mine coin that hasn't pumped yet like BTG and sit on my stack.

For example, I mined RVN for the past few months on and off while it was low in price and under the radar and sold off on yesterdays pump to 500 sat. I netted much more than WTM claimed I would because I stockpiled a low diff and low price coin. Now that difficulty and price surged I moved off to other things and hope to repeat the cycle. If you are one of the few people that actually DO auto-convert all your mined coins or sell them daily; then yes it makes more sense to mine the top coin and convert to what coin you want daily. In practice and for the rest of us that mine and sit on a stack, be careful of chasing WTM figures.

-Meteorite

[Metroid]

What do you think are proper realistic earnings for a healthy gpu mining community? 1 dollar per day after electric paid? 50 cents? obviously a ton of variables but interested to hear more of your thoughts on that

To be fair to both sides, $1.30 and with that price per gpu per day we will see midrange gpus like rx x70 or rtx x600 around $150 which in turn roi will be around 150 -200 days maximum and that is what it was supposed to be, remember when rx 470 was launched, mining eth with it used to give $1.30 and gpu cost was $170, roi less than 200 days and more than 150 days is a must. Perfect roi time, 150 to 200 days, less or more than this is not good for the gpu mining as a whole.

The highest income rx 470 made was around $10 per day and now the lowest $0.05 per day, talk about extremes.

[hiphoptrail]

I am sick and tired of hearing you whining gpu miners about asics. i can tell you are not long in this industry.

where the hell were you when cpu's went to gpu's? no butt hurt talk then. this is because you got into this industry due to you
sitting in your parents basement playing video games with your gpu and found out it could be used for mining and making money.

asics are actually more decentralized than gpu's. not everyone is a cryptogeek and cry baby. one can purchase a ascis and secure the blockchain at their home with very little effort compared to gpu, mining.

cry me a river you late people to the blockchain butt hurt gpu selfish miners...

hip hop and away...

[Thekool1s]

What do you think are proper realistic earnings for a healthy gpu mining community? 1 dollar per day after electric paid? 50 cents? obviously a ton of variables but interested to hear more of your thoughts on that

There are no 'realistic earnings' for keeping a healthy GPU mining community. There are just too many factors/variables involved. How does a guy who has an electricity cost of 0.15$/Kwh compete with a guy who has 0.08$/Kwh? How can you satisfy them both? The answer is a simple one. You can't. That's what happens with the free markets.

roi less than 200 days and more than 150 days is a must.

You can't dictate the Free markets. There is no way to ensure this. There will always be a guy who has access to cheaper electricity than you and you can't ask him to sell his coins at a lower price cuz for him, he still will be making a good 'healthy' profit. Hence why we are in this situation. People who have a cost of 0.02$/Kwh are still making a decent amount and their ROI is in your suggested timeframe.

[VoskCoin]

I am sick and tired of hearing you whining gpu miners about asics. i can tell you are not long in this industry.

where the hell were you when cpu's went to gpu's? no butt hurt talk then. this is because you got into this industry due to you
sitting in your parents basement playing video games with your gpu and found out it could be used for mining and making money.

asics are actually more decentralized than gpu's. not everyone is a cryptogeek and cry baby. one can purchase a ascis and secure the blockchain at their home with very little effort compared to gpu, mining.

cry me a river you late people to the blockchain butt hurt gpu selfish miners...

hip hop and away...

https://www.youtube.com/watch?v=5Tgq-KAMWrs


you said you wanted to see mining farms in moms basement right? here you go

[VoskCoin]

What do you think are proper realistic earnings for a healthy gpu mining community? 1 dollar per day after electric paid? 50 cents? obviously a ton of variables but interested to hear more of your thoughts on that

There are no 'realistic earnings' for keeping a healthy GPU mining community. There are just too many factors/variables involved. How does a guy who has an electricity cost of 0.15$/Kwh compete with a guy who has 0.08$/Kwh? How can you satisfy them both? The answer is a simple one. You can't. That's what happens with the free markets.

roi less than 200 days and more than 150 days is a must.

You can't dictate the Free markets. There is no way to ensure this. There will always be a guy who has access to cheaper electricity than you and you can't ask him to sell his coins at a lower price cuz for him, he still will be making a good 'healthy' profit. Hence why we are in this situation. People who have a cost of 0.02$/Kwh are still making a decent amount and their ROI is in your suggested timeframe.

sounds like only satoshi can save us then?

[dagarair]

Come to my place i'll give you 75$ a kw if you are over 50kw.     Roughly 10 cents

[hiphoptrail]

I am sick and tired of hearing you whining gpu miners about asics. i can tell you are not long in this industry.

where the hell were you when cpu's went to gpu's? no butt hurt talk then. this is because you got into this industry due to you
sitting in your parents basement playing video games with your gpu and found out it could be used for mining and making money.

asics are actually more decentralized than gpu's. not everyone is a cryptogeek and cry baby. one can purchase a ascis and secure the blockchain at their home with very little effort compared to gpu, mining.

cry me a river you late people to the blockchain butt hurt gpu selfish miners...

hip hop and away...

https://www.youtube.com/watch?v=5Tgq-KAMWrs


you said you wanted to see mining farms in moms basement right? here you go

yes, moms basement mr. pimp your channel out

[Thekool1s]

What do you think are proper realistic earnings for a healthy gpu mining community? 1 dollar per day after electric paid? 50 cents? obviously a ton of variables but interested to hear more of your thoughts on that

There are no 'realistic earnings' for keeping a healthy GPU mining community. There are just too many factors/variables involved. How does a guy who has an electricity cost of 0.15$/Kwh compete with a guy who has 0.08$/Kwh? How can you satisfy them both? The answer is a simple one. You can't. That's what happens with the free markets.

roi less than 200 days and more than 150 days is a must.

You can't dictate the Free markets. There is no way to ensure this. There will always be a guy who has access to cheaper electricity than you and you can't ask him to sell his coins at a lower price cuz for him, he still will be making a good 'healthy' profit. Hence why we are in this situation. People who have a cost of 0.02$/Kwh are still making a decent amount and their ROI is in your suggested timeframe.

sounds like only satoshi can save us then?

Lol. Well, he created the world's first decentralized "Currency" I am sure he can pull off another miracle by saving the GPU mining community.

[adaseb]

I finally saw the video that Vosk posted and I will discuss the topic of getting passive income now that GPU mining is no longer viable for most.

Like he said in the video, trading is not really passive income since you need to put in alot of work to generate money and most likely you will end up getting REKT'd.

He suggested to run some masternodes which is a good way to get more alt coins however running a master node is risky for many reasons. First one you can get your coins stolen if you don't know what you are doing. Second the value of the actual alt in respect to BTC or even USD can and most likely will keep falling if this bear market continues, so its not different than trading.

One way you can earn some more USD or BTC with little risk is by lending it on Bitfinex or Bitmex. Basically you don't get much but you get way more than in a US dollar savings account. Currently Bitfinex pays 0.02% a day while Bitmex plays 0.03% a day.

Yes there is the risk of them getting hacked so you shouldn't keep all your coins on there but depending on how many BTC you own, it might be more profitable right now then mining if you got large electricity rates.

[hiphoptrail]

hey everyone,

i was just trying to stir up some thoughts in everyone about our entire industry and how we reach "decentralized", "freedom" along with other avenues.

if you were honest, satoshi's white paper say's cpu's not gpu's, not asics, not pos, not master nodes, not dpos etc...

we all need to evolve as the blockchain grows legs and gets used by everyone. we are all on the same team, lets grow together.

hip hop and away...

[Metroid]

One way you can earn some more USD or BTC with little risk is by lending it on Bitfinex or Bitmex. Basically you don't get much but you get way more than in a US dollar savings account. Currently Bitfinex pays 0.02% a day while Bitmex plays 0.03% a day.

Yes there is the risk of them getting hacked so you shouldn't keep all your coins on there but depending on how many BTC you own, it might be more profitable right now then mining if you got large electricity rates.

You forgot to add an example, always give examples for people to understand how it works in the end, if is worth or not, if you have 10.000 usd, interest rate at 0.02 bitfinex, that will earn you $2 per day, in a year x 364 = 728 usd, not worth at all cause coins jump prices very fast and increase many times, now lending btc or eth that might be a good alternative but still risk if the exchange is hacked like you mentioned. Well in this bear market, never hold usd and if you have usd then exchange fast for coins like btc or eth, remember that eth price is very low, anytime its price might jump to $400 in few hours, $800 in a day or so, never underestimate volatility in crypto.

Remember that in a bull market if the price of the coin you are holding rose 50 times then exchange to usd and never look back, wait things to settle down and then buy your coin back if the coin you sold crashed 4 to 8 times.

[shield132]

Don't try HDD mining, everyone I know swears it's the worst thing they did in mining, also burst coin mining sucks the most. I don't know what's happening in your house but in my house GPU mining is profitable, I mine with Nvidia gtx 1070, 1070ti and 1080ti, ROIed 1/5 in one week, last year, so finally it was a good investment for me.
Btw don't get so stressed, do you still profit some cents or not? If not then how much you lose in month? Because possibly it can give you almost free winter, then I would sell them.

[jqprez]

I have a rig. 1 1080 ti 11 gb. 1 1070 8gb and 1 1060 6gb. How i must configure for be profitable?

[chaoprokia]

I have 40 570/580 Getting rid most of them.
Keep 1-2 Rigs.

Losing $$$ per day

[badbart]

I have .049 electricity and haven’t stopped mining.   I bought my rigs two years ago and they have been paid for many times over.  My 200 amp breaker in my house is maxed out and I’ll mine until I can’t make any money.  I think people need to realize all markets have ups and downs and after a huge bull run it can take two years to recover.  Next time and huge run up happens don’t be the fools buying at the top, when crypto is all over the news and your neighbors are talking about its time to be weary.  I’ve traded stocks, combcocities and options for 25 years and it’s always the same cycle.

[d57heinz]

I have .049 electricity and haven’t stopped mining.   I bought my rigs two years ago and they have been paid for many times over.  My 200 amp breaker in my house is maxed out and I’ll mine until I can’t make any money.  I think people need to realize all markets have ups and downs and after a huge bull run it can take two years to recover.  Next time and huge run up happens don’t be the fools buying at the top, when crypto is all over the news and your neighbors are talking about its time to be weary.  I’ve traded stocks, combcocities and options for 25 years and it’s always the same cycle.

This is exactly why this system isn’t made for long term in mind.  When the point comes that you inevitably have to shut down that’s just one more axe into the decentralized idea.   How will this system stay secure during the lows when it consolidates both price and miners.  That’s the whole problem with the boom bust cycle.  Take a step back and look at all industries. Booms and busts force consolidation into smaller and smaller pools of people. Thus aggregating the power to the top 1% again.  Ohhh boy do we have a clusterfuck on our hands

BR

[badbart]

I have .049 electricity and haven’t stopped mining.   I bought my rigs two years ago and they have been paid for many times over.  My 200 amp breaker in my house is maxed out and I’ll mine until I can’t make any money.  I think people need to realize all markets have ups and downs and after a huge bull run it can take two years to recover.  Next time and huge run up happens don’t be the fools buying at the top, when crypto is all over the news and your neighbors are talking about its time to be weary.  I’ve traded stocks, combcocities and options for 25 years and it’s always the same cycle.

This is exactly why this system isn’t made for long term in mind.  When the point comes that you inevitably have to shut down that’s just one more axe into the decentralized idea.   How will this system stay secure during the lows when it consolidates both price and miners.  That’s the whole problem with the boom bust cycle.  Take a step back and look at all industries. Booms and busts force consolidation into smaller and smaller pools of people. Thus aggregating the power to the top 1% again.  Ohhh boy do we have a clusterfuck on our hands

BR

You guys know more about the coins techincal aspects then I do.  But I would think if you have coins committed to be ASIC resistant then we might have hope.  Markets cycle and you have to always be prepared, your going to have bad years no one will make a consistent $4 a day per gpu.

[jqprez]

And what do we do? Turn off?

[uralcryptocoin]

And what do we do? Turn off?

It depends only on your own financial plan. Today the mining is far from the most profitable investment. Looks like Vosk made a right choise of selling mining equipment. The hardware get old enough quickly. Practically everytime the buying of coins was more profitable than mining just should choose right coin and believe in that

[jqprez]

The question is: if 100 miners are in action, and the gain is 1000, they gain 10 x one. If are in action 50 miners they  gain 20 x one. Correct?

[VoskCoin]

What do you think are proper realistic earnings for a healthy gpu mining community? 1 dollar per day after electric paid? 50 cents? obviously a ton of variables but interested to hear more of your thoughts on that

There are no 'realistic earnings' for keeping a healthy GPU mining community. There are just too many factors/variables involved. How does a guy who has an electricity cost of 0.15$/Kwh compete with a guy who has 0.08$/Kwh? How can you satisfy them both? The answer is a simple one. You can't. That's what happens with the free markets.

roi less than 200 days and more than 150 days is a must.

You can't dictate the Free markets. There is no way to ensure this. There will always be a guy who has access to cheaper electricity than you and you can't ask him to sell his coins at a lower price cuz for him, he still will be making a good 'healthy' profit. Hence why we are in this situation. People who have a cost of 0.02$/Kwh are still making a decent amount and their ROI is in your suggested timeframe.

sounds like only satoshi can save us then?

Lol. Well, he created the world's first decentralized "Currency" I am sure he can pull off another miracle by saving the GPU mining community.

If he would just initiate a bullrun, I'd be happy enough lol

[VoskCoin]

Come to my place i'll give you 75$ a kw if you are over 50kw.     Roughly 10 cents

you know my friend, that is really not a bad offer! lol (at least w/ my rates)

[VoskCoin]

Don't try HDD mining, everyone I know swears it's the worst thing they did in mining, also burst coin mining sucks the most. I don't know what's happening in your house but in my house GPU mining is profitable, I mine with Nvidia gtx 1070, 1070ti and 1080ti, ROIed 1/5 in one week, last year, so finally it was a good investment for me.
Btw don't get so stressed, do you still profit some cents or not? If not then how much you lose in month? Because possibly it can give you almost free winter, then I would sell them.

burstcoin mining (while I think its super cool / interesting) has been such a time consuming fruitless ($) endeavor . . lol

[VoskCoin]

One way you can earn some more USD or BTC with little risk is by lending it on Bitfinex or Bitmex. Basically you don't get much but you get way more than in a US dollar savings account. Currently Bitfinex pays 0.02% a day while Bitmex plays 0.03% a day.

Yes there is the risk of them getting hacked so you shouldn't keep all your coins on there but depending on how many BTC you own, it might be more profitable right now then mining if you got large electricity rates.

You forgot to add an example, always give examples for people to understand how it works in the end, if is worth or not, if you have 10.000 usd, interest rate at 0.02 bitfinex, that will earn you $2 per day, in a year x 364 = 728 usd, not worth at all cause coins jump prices very fast and increase many times, now lending btc or eth that might be a good alternative but still risk if the exchange is hacked like you mentioned. Well in this bear market, never hold usd and if you have usd then exchange fast for coins like btc or eth, remember that eth price is very low, anytime its price might jump to $400 in few hours, $800 in a day or so, never underestimate volatility in crypto.

Remember that in a bull market if the price of the coin you are holding rose 50 times then exchange to usd and never look back, wait things to settle down and then buy your coin back if the coin you sold crashed 4 to 8 times.

that's the real premium advice here lol, take profits and know most coins will eventually tumble back down for good ops to buy back in