I Turned My Rigs Off...

[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  . 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

I updated my msg for more information that is helpful.

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)

[stomachgrowls]

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.

When difficulty isnt really that high lots of miners do really still managed to get some profits but the margin keeps tighten as it rises
and power cost is one of the factor.Im actually on the same foot as yours,im still parking up my rig and waiting for the right time
if i do see some opportunity to mine at profit but for now im not stressing too much myself on seeking those chances.

[mak013]

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.

When difficulty isnt really that high lots of miners do really still managed to get some profits but the margin keeps tighten as it rises
and power cost is one of the factor.Im actually on the same foot as yours,im still parking up my rig and waiting for the right time
if i do see some opportunity to mine at profit but for now im not stressing too much myself on seeking those chances.

I cant imagine what electricy cost you have, can you say it? For me mining is profitable until $0.25 per KWh and i dont see such costs anythere. Of course its that time then your equipment is paid off.

[agente]

So.. for you profitable is 0.20/kWh. Interesting meaning of word "profitable"

[mak013]

So.. for you profitable is 0.20/kWh. Interesting meaning of word "profitable"

You can find it in vocabulary. More than zero is profit. All my equipment paid off long ago and even $0.01 per KWh is profit. And i havent said, that my electricity costs $0.25.

[pinoycash]

When difficulty isnt really that high lots of miners do really still managed to get some profits but the margin keeps tighten as it rises
and power cost is one of the factor.Im actually on the same foot as yours,im still parking up my rig and waiting for the right time
if i do see some opportunity to mine at profit but for now im not stressing too much myself on seeking those chances.

Don't wait when others are also parking their rigs and waiting for a good price to start mining again. We already see a good sign that this price rally with continue. Starting your rigs right now even on a small profit margin is the best thing to do. Don't wait for the difficulty to raised to the roof before you start mining

[CryptoLing]

More than zero is not profit, if you deduct your electricity cost and your investment in rig that slightly more than zero will become minus hence you loss your investment. So yes it's better to turned your rigs off compare with losing your money.

[lunobird]

When difficulty isnt really that high lots of miners do really still managed to get some profits but the margin keeps tighten as it rises
and power cost is one of the factor.Im actually on the same foot as yours,im still parking up my rig and waiting for the right time
if i do see some opportunity to mine at profit but for now im not stressing too much myself on seeking those chances.

Don't wait when others are also parking their rigs and waiting for a good price to start mining again. We already see a good sign that this price rally with continue. Starting your rigs right now even on a small profit margin is the best thing to do. Don't wait for the difficulty to raised to the roof before you start mining

One should still focus on reducing their operation cost, lowering their electric and making some changes, and spend more money on more efficient cards or specific asics. From a line of work & accounting perspective, The idea of just mine now to break near even with electric and hope prices go up higher is worst than just buying coins with cash.

The miners that are waiting on the sidelines will just get roasted by the pro miners that can keep cost down. It's a different ball game now. No more noobphoria making $5+ a day with a single gpu. People are wiser now and competition is a lot more fierce

[serhanni]

Since Asic's profitability decreasing rapidly, sell them instead of waiting next winter(while they still have positive profitability) And buy some stable pos coins.

[fitty]

How about your ROI  using asic? im pretty sure that will take you too long almost a year or so to get back you invest and start really earn through mining?You better sell that ASIC and buy a real MINING RIGS composed of a cpu and a gpu

[mak013]

One should still focus on reducing their operation cost, lowering their electric and making some changes, and spend more money on more efficient cards or specific asics. From a line of work & accounting perspective, The idea of just mine now to break near even with electric and hope prices go up higher is worst than just buying coins with cash.

The miners that are waiting on the sidelines will just get roasted by the pro miners that can keep cost down. It's a different ball game now. No more noobphoria making $5+ a day with a single gpu. People are wiser now and competition is a lot more fierce

Newbies are crying and selling rigs. They decided that they are top miners/traders when it was a problem to become a loser. Someone bought rigs and did nothing more, another - read more and more and more trying to increase profit and decrease expenses. Guess who of them are crying now?

[l3pox]

One should still focus on reducing their operation cost, lowering their electric and making some changes, and spend more money on more efficient cards or specific asics. From a line of work & accounting perspective, The idea of just mine now to break near even with electric and hope prices go up higher is worst than just buying coins with cash.

The miners that are waiting on the sidelines will just get roasted by the pro miners that can keep cost down. It's a different ball game now. No more noobphoria making $5+ a day with a single gpu. People are wiser now and competition is a lot more fierce

Newbies are crying and selling rigs. They decided that they are top miners/traders when it was a problem to become a loser. Someone bought rigs and did nothing more, another - read more and more and more trying to increase profit and decrease expenses. Guess who of them are crying now?

you just translated perfeclty the difference of playing the short game and the long game.

usually those who play the long game win!

[mak013]

Newbies are crying and selling rigs. They decided that they are top miners/traders when it was a problem to become a loser. Someone bought rigs and did nothing more, another - read more and more and more trying to increase profit and decrease expenses. Guess who of them are crying now?

you just translated perfeclty the difference of playing the short game and the long game.

usually those who play the long game win!

No. I describied difference between men that come to get money and relate to mining such as to a work and men that decide to get easy money for nothing. The results are on the board.

[viljy]

One should still focus on reducing their operation cost, lowering their electric and making some changes, and spend more money on more efficient cards or specific asics. From a line of work & accounting perspective, The idea of just mine now to break near even with electric and hope prices go up higher is worst than just buying coins with cash.

The miners that are waiting on the sidelines will just get roasted by the pro miners that can keep cost down. It's a different ball game now. No more noobphoria making $5+ a day with a single gpu. People are wiser now and competition is a lot more fierce

Newbies are crying and selling rigs. They decided that they are top miners/traders when it was a problem to become a loser. Someone bought rigs and did nothing more, another - read more and more and more trying to increase profit and decrease expenses. Guess who of them are crying now?

Well, who? If one trader is lucky and imagines himself a trading genius, then it will end badly. The market is manipulated and no matter how much you read, if you do not have access to insider information you will eventually lose everything. As for the miners, everything is very simple. There are miners who have never bought equipment and never paid for electricity. For them, mining is always profitable. To do this, you just need to use the computing power and electricity where such a miner works. Although it is said that it is like theft.

[mak013]

Newbies are crying and selling rigs. They decided that they are top miners/traders when it was a problem to become a loser. Someone bought rigs and did nothing more, another - read more and more and more trying to increase profit and decrease expenses. Guess who of them are crying now?

Well, who? If one trader is lucky and imagines himself a trading genius, then it will end badly. The market is manipulated and no matter how much you read, if you do not have access to insider information you will eventually lose everything. As for the miners, everything is very simple.

Wow. And thats why we regularly see threads like this here. Because its too simple.

There are miners who have never bought equipment and never paid for electricity. For them, mining is always profitable. To do this, you just need to use the computing power and electricity where such a miner works. Although it is said that it is like theft.

Mining with 1 home GPU? Mining at work? First case - its not mining, second - its until this "clever" boy would be catched.

[viljy]

second - its until this "clever" boy would be catched.

You should not think that all these people will be caught. One in a thousand might get caught. And the rest will continue their activities.

[swogerino]

Mining at this point is profitable again if you have recovered the investment you have made to buy your mining equipment.Mining Ethereum with a six graphic cards rig with a 0.07 dollars kilowatt energy price makes you about 50 dollars profit.

It may seem a little now but who knows how high the bitcoin price can go so why turning off the rigs now.

[huntingthesnark]

Mining at this point is profitable again if you have recovered the investment you have made to buy your mining equipment.Mining Ethereum with a six graphic cards rig with a 0.07 dollars kilowatt energy price makes you about 50 dollars profit.

It may seem a little now but who knows how high the bitcoin price can go so why turning off the rigs now.

Eth is nearly profitable again, it is true - but 0.07USD electric is very cheap! Sure, if you have prices that low get cracking - just know you are lucky! UK is nearly triple that @ standard residential rates.

[swogerino]

Mining at this point is profitable again if you have recovered the investment you have made to buy your mining equipment.Mining Ethereum with a six graphic cards rig with a 0.07 dollars kilowatt energy price makes you about 50 dollars profit.

It may seem a little now but who knows how high the bitcoin price can go so why turning off the rigs now.

Eth is nearly profitable again, it is true - but 0.07USD electric is very cheap! Sure, if you have prices that low get cracking - just know you are lucky! UK is nearly triple that @ standard residential rates.

I have only one mining device at my home and energy is expensive here for residents.I manage a few mining rigs for some of my colleagues and they keep the miners in our company and pay preferential rate of 0.07 dollars per kilowatt so they have turned their rigs on from a few months now.

I would mine even at Uk rates because I think the crypto can boom again soon and even higher than December 2017.

[superstarbtc]

When difficulty isnt really that high lots of miners do really still managed to get some profits but the margin keeps tighten as it rises
and power cost is one of the factor.Im actually on the same foot as yours,im still parking up my rig and waiting for the right time
if i do see some opportunity to mine at profit but for now im not stressing too much myself on seeking those chances.

Don't wait when others are also parking their rigs and waiting for a good price to start mining again. We already see a good sign that this price rally with continue. Starting your rigs right now even on a small profit margin is the best thing to do. Don't wait for the difficulty to raised to the roof before you start mining

Exactly, we should mine it before only once the price starts increasing we might make a higher amount, now almost we have to spend half of the money for the sake of mining. Once the price starts increasing many people will start mining the Bitcoin which makes us more difficult to mature the coins.