I Turned My Rigs Off...

[dragonmike]

I see what you mean, it's a US thing, i.e. you get a discount on "equipment" that needs to be taxed if said equipment is subsequently sold above its discount+depreciation value kind of thing. Works differently here in the UK afaik.

How much is the "equipment deduction" out of curiosity? And how long would you have to pay tax (i.e. rather a giving back of the discount) on the re-sale of that equipment?

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[shinratensei_]

Yes, ZEC price dumped and downtren market. You got nothing if you still mining with your asic.
My set-up rig for 10xRX570 only got about $3 per day with $2.5 electricity fees. Bad day in mining history

The usual thing in the mining market. Only the strongest and most persistent will be able to hold their positions.
Why do you have such expensive electricity?

It's not caused by the trend that created by the market but ZEC develop was dumping it to get more money from the market and I guess you must see that tweet about that created by whale panda.
It looks like he was living in 3rd countries. Is that right? Some countries have expensive electricity cost. https://www.worldatlas.com/articles/electricity-rates-around-the-world.html

[huntingthesnark]

I've come up with a brilliant, zero-risk mining scheme.

I was tempted to invest in a vii rig, but held fire to see what hash per watt looked like.

By doing so, I've already made £80 per card (launch price vs price today), and that's in about 8 weeks, so a whopping £10 per week pure profit - best of all, I've not had to build and manage a rig either! Would recommend!

[dagarair]

I've come up with a brilliant, zero-risk mining scheme.

I was tempted to invest in a vii rig, but held fire to see what hash per watt looked like.

By doing so, I've already made £80 per card (launch price vs price today), and that's in about 8 weeks, so a whopping £10 per week pure profit - best of all, I've not had to build and manage a rig either! Would recommend!

ROFL "Zero-Risk" That don't exist buddy.  Glad you are doing well.

[r32godzilla]

Zero Risk method is probably only when you mine somewhere where you get free electricity.
But there is still the high initial investment to buy efficient mining rigs.

[irixo10]

Drastic situation leads to drastic measures. It is no longer news that most miners are dumping their mining equipment and settling for either trading or whatsoever they deem fit.
The high cost of energy coupled with less mining profits isn't encouraging at all.

[pinoycash]

Today is the right time to clean your rigs and make a test run to make sure its still working. BTC is gaining a foot hold right now and Nicehash Mining Become profitable once again.

Its time to dust off my 1050ti GPU's. Hoping all of them are still working. I stopped using them since February 2018.

[dragonmike]

I can dust off my 570's as much as I want (wouldn't be a big job, they're Asus with dust repellent fans... Excellent stuff), I'm not plugging them back in to draw 2000W and net me a buck a day.

They're being sold. Some are being replaced by 2060's. I'll consider further replacements later.

[CryptoKush]

Now there are a lot of promising coins for mining. Therefore, I think that stopping the rigs is a bad idea. I think you need to look for good coins and continue mining.

[leonix007]

Still Lurking and looking for a Great Timing, Not quiet sure if my 480's can still push and make some cents, checking on Price right now and seems its promising.

Difficulty is also starting to rise from Last months Low

https://etherscan.io/chart/difficulty

Honestly I'm undecided to Sell my 480's or still fire them up

[mctaino]

Still Lurking and looking for a Great Timing, Not quiet sure if my 480's can still push and make some cents, checking on Price right now and seems its promising.

Difficulty is also starting to rise from Last months Low

https://etherscan.io/chart/difficulty

Honestly I'm undecided to Sell my 480's or still fire them up

Its so depressing.

There are so many people just waiting to turn on their machines at the smallest upwards movement in price.  This market has been flooded by people and I don't think it will ever be like the glory days.

[DrG]

Still Lurking and looking for a Great Timing, Not quiet sure if my 480's can still push and make some cents, checking on Price right now and seems its promising.

Difficulty is also starting to rise from Last months Low

https://etherscan.io/chart/difficulty

Honestly I'm undecided to Sell my 480's or still fire them up

Its so depressing.

There are so many people just waiting to turn on their machines at the smallest upwards movement in price.  This market has been flooded by people and I don't think it will ever be like the glory days.

This is a great time to sell those 1060 3GB cards that can't mine eth as the 6GB cards are now in tighter supply so the 3GB rose up in price a bit.  Of course the smart thing to do would have been to stop mining in Dec 2017, sell all the cards, buy ETH or your fav alt or BTC when it hit rock bottom and sell on the run up. Sure it's not as fun as mining but I think we're well past the point where the networks need to be supported through decentralization.

If you have any holdings it would make sense to take a little profit taking. Those who held entirely in 2017 missed out on a lot of opportunity. BTC and alts will most certainly crash and run up again before the next halving.

[mak013]

This is a great time to sell those 1060 3GB cards that can't mine eth as the 6GB cards are now in tighter supply so the 3GB rose up in price a bit.  Of course the smart thing to do would have been to stop mining in Dec 2017, sell all the cards, buy ETH or your fav alt or BTC when it hit rock bottom and sell on the run up. Sure it's not as fun as mining but I think we're well past the point where the networks need to be supported through decentralization.

If you have any holdings it would make sense to take a little profit taking. Those who held entirely in 2017 missed out on a lot of opportunity. BTC and alts will most certainly crash and run up again before the next halving.

I can agree with you. There are lots of people that use this cards with better profit then ETH and they doesnt matter about the DAG file. I`d like to up my GPUs to 20xx series but i dont want to sell my 1063 for nothing. Right now it seems that i can get nice price for them.

[lunobird]

Still Lurking and looking for a Great Timing, Not quiet sure if my 480's can still push and make some cents, checking on Price right now and seems its promising.

Difficulty is also starting to rise from Last months Low

https://etherscan.io/chart/difficulty

Honestly I'm undecided to Sell my 480's or still fire them up

Its so depressing.

There are so many people just waiting to turn on their machines at the smallest upwards movement in price.  This market has been flooded by people and I don't think it will ever be like the glory days.

Yep. Plenty of miners on the sidelines chasing scraps and ready to turn their machines back on if prices bounce up a little.  I didn't cry about it though. I swung back harder. Shifted my operation from home mining to a colo mining with 3x cheaper rate than residential from 24 cents down to 8 cents.  I installed some solar panels myself on my home so I can still mine a rig at home. Heck my solar panels have a faster ROI than my 20 series 2080 rtx cards and have much longer use 30 years.

People wasting all this money on gpus they should be investing in solar and learn how to install it themselves. But not everyone has the chops or skills for that and only a few will win and those that went solar will enjoy mining into the future and  further lower their system ROI time. Any fomo idiot can buy gpus and try to mine hence we reached full market saturation.  But not everyone has access to cheap power or knows how to install solar or wants to send their rigs to a mining colo to stay competitive. This what separates the boys from the men.

[rdluffy]

Still Lurking and looking for a Great Timing, Not quiet sure if my 480's can still push and make some cents, checking on Price right now and seems its promising.

Difficulty is also starting to rise from Last months Low

https://etherscan.io/chart/difficulty

Honestly I'm undecided to Sell my 480's or still fire them up

Its so depressing.

There are so many people just waiting to turn on their machines at the smallest upwards movement in price.  This market has been flooded by people and I don't think it will ever be like the glory days.

Yep. Plenty of miners on the sidelines chasing scraps and ready to turn their machines back on if prices bounce up a little.  I didn't cry about it though. I swung back harder. Shifted my operation from home mining to a colo mining with 3x cheaper rate than residential from 24 cents down to 8 cents.  I installed some solar panels myself on my home so I can still mine a rig at home. Heck my solar panels have a faster ROI than my 20 series 2080 rtx cards and have much longer use 30 years.

People wasting all this money on gpus they should be investing in solar and learn how to install it themselves. But not everyone has the chops or skills for that and only a few will win and those that went solar will enjoy mining into the future and  further lower their system ROI time. Any fomo idiot can buy gpus and try to mine hence we reached full market saturation.  But not everyone has access to cheap power or knows how to install solar or wants to send their rigs to a mining colo to stay competitive. This what separates the boys from the men.

How much did you spend to mount you solar system?
I live in Brazil, we have a expensive electricity costs, I've been studying about solar system, but the cost is expesive to, maybe I can install and reduce the costs

[bitcoinPsycho]

Just bypass the meter

[lunobird]

Just bypass the meter

There is no free lunch.  That's not worth the risk to reward. Especially if your pulling serious power it won't go unnoticed.

[lunobird]

Still Lurking and looking for a Great Timing, Not quiet sure if my 480's can still push and make some cents, checking on Price right now and seems its promising.

Difficulty is also starting to rise from Last months Low

https://etherscan.io/chart/difficulty

Honestly I'm undecided to Sell my 480's or still fire them up

Its so depressing.

There are so many people just waiting to turn on their machines at the smallest upwards movement in price.  This market has been flooded by people and I don't think it will ever be like the glory days.

Yep. Plenty of miners on the sidelines chasing scraps and ready to turn their machines back on if prices bounce up a little.  I didn't cry about it though. I swung back harder. Shifted my operation from home mining to a colo mining with 3x cheaper rate than residential from 24 cents down to 8 cents.  I installed some solar panels myself on my home so I can still mine a rig at home. Heck my solar panels have a faster ROI than my 20 series 2080 rtx cards and have much longer use 30 years.

People wasting all this money on gpus they should be investing in solar and learn how to install it themselves. But not everyone has the chops or skills for that and only a few will win and those that went solar will enjoy mining into the future and  further lower their system ROI time. Any fomo idiot can buy gpus and try to mine hence we reached full market saturation.  But not everyone has access to cheap power or knows how to install solar or wants to send their rigs to a mining colo to stay competitive. This what separates the boys from the men.

How much did you spend to mount you solar system?
I live in Brazil, we have a expensive electricity costs, I've been studying about solar system, but the cost is expesive to, maybe I can install and reduce the costs

www.wholesalesolar.com

www.geminisolardesign.com   (They build you the proper layout planning with electrical diagrams after sending them a layout sketch for $275)(totally worth doing this, saves you time and having to pay extra to your city if they fail your first drafts plans) (also the electrical diagrams is very helpful to make sure your using big enough wires)

 . They are in the united states in california.  But you might find a wholesale solar company in your country.  I would avoid those turn key solar solutions as they charge a lot.  I had to ask myself.  Do i want to build two gpu rigs and break even with electric after 3-4 years.  Or do i want a solar system and break even in less than 4 years and have and can use my system for 30 years and save lots of money over the long term.

You can get some grid tie systems for pretty cheap. I got a 6.7kw system 20 panels of 335watts each for like 9k or 6k after tax credits. This will generate 900 kwatts a month. Enough to power my home and 1 gpu rig with 6x cards.  Plus in united states you get a 30 percent tax credit on your system cost and install cost. But i recommend self install as you will learn a lot and its not that hard and you save money.

Getting power from the sun is a lot of fun.  A LOT more fun than mining especially in the current state.  Plus my location is not perfect for solar but good enough. Totally worth it IF you install yourself and get a big enough system

[Pamadar]

Still Lurking and looking for a Great Timing, Not quiet sure if my 480's can still push and make some cents, checking on Price right now and seems its promising.

Difficulty is also starting to rise from Last months Low

https://etherscan.io/chart/difficulty

Honestly I'm undecided to Sell my 480's or still fire them up

Got a couple of 570 park it up and don't know if I'll be able to generate something as the electricity price from where am I is really high,
will try to find new coins that have potentials and try some luck when fully decided to turned back my rig on again.

[rdluffy]

Still Lurking and looking for a Great Timing, Not quiet sure if my 480's can still push and make some cents, checking on Price right now and seems its promising.

Difficulty is also starting to rise from Last months Low

https://etherscan.io/chart/difficulty

Honestly I'm undecided to Sell my 480's or still fire them up

Its so depressing.

There are so many people just waiting to turn on their machines at the smallest upwards movement in price.  This market has been flooded by people and I don't think it will ever be like the glory days.

Yep. Plenty of miners on the sidelines chasing scraps and ready to turn their machines back on if prices bounce up a little.  I didn't cry about it though. I swung back harder. Shifted my operation from home mining to a colo mining with 3x cheaper rate than residential from 24 cents down to 8 cents.  I installed some solar panels myself on my home so I can still mine a rig at home. Heck my solar panels have a faster ROI than my 20 series 2080 rtx cards and have much longer use 30 years.

People wasting all this money on gpus they should be investing in solar and learn how to install it themselves. But not everyone has the chops or skills for that and only a few will win and those that went solar will enjoy mining into the future and  further lower their system ROI time. Any fomo idiot can buy gpus and try to mine hence we reached full market saturation.  But not everyone has access to cheap power or knows how to install solar or wants to send their rigs to a mining colo to stay competitive. This what separates the boys from the men.

How much did you spend to mount you solar system?
I live in Brazil, we have a expensive electricity costs, I've been studying about solar system, but the cost is expesive to, maybe I can install and reduce the costs

www.wholesalesolar.com  . They are in the united states in california.  But you might find a wholesale solar company in your country.  I would avoid those turn key solar solutions as they charge a lot.  I had to ask myself.  Do i want to build two gpu rigs and break even with electric after 3-4 years.  Or do i want a solar system and break even in less than 4 years and have and can use my system for 30 years and save lots of money over the long term.

You can get some grid tie systems for pretty cheap. I got a 6.7kw system 20 panels of 335watts each for like 9k or 6k after tax credits. This will generate 900 kwatts a month. Enough to power my home and 1 gpu rig with 6x cards.  Plus in united states you get a 30 percent tax credit on your system cost and install cost. But i recommend self install as you will learn a lot and its not that hard and you save money.

Getting power from the sun is a lot of fun.  A LOT more fun than mining especially in the current state.  Plus my location is not perfect for solar but good enough. Totally worth it IF you install yourself and get a big enough system

Thank you for all this info man, I'll do a better research about solar system and do the math
I live in a city known in Brazil as one of the hotest cities in country 
We have plenty solar rays here, and it's very hot