I fell for FOMO

[Bitbtc8]

Back in December 2017 when mining coins are still damn profitable a friend told me about how much he was making from mining and I decided to check it out, I was hooked and I can't keep my mind off it so I venture into setting up my own, the first coin I started mining was electroneum but unfortunately I wasnt able to recover half of ROI back before bears take over the market and now mining seems hopeless, my question to miners like me out here is how are you guys managing? Will mining be profitable again when bulls return???

[1714797152]

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[1714797152]

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[zenhu]

Mining alt is still and will be always profitable if you chose the right equipment and the right coin to mine. But you cant mining ETN with GPU right? what setup did you use for it? you still can sell all those rigs to someone else though. Or move to different coin that still less difficulty and gain more coin.

[Coltpython]

First, I think this should have been posted at the altcoins mining section. Now, back in 2017, I also got involved in mining and the bear market caught up as well, rendering my investments into losses. I do not lose hope. I believe mining will still be profitable again and its getting better as the bull run commences.

[coin-investor]

Back in December 2017 when mining coins are still damn profitable a friend told me about how much he was making from mining and I decided to check it out, I was hooked and I can't keep my mind off it so I venture into setting up my own, the first coin I started mining was electroneum but unfortunately I wasnt able to recover half of ROI back before bears take over the market and now mining seems hopeless, my question to miners like me out here is how are you guys managing? Will mining be profitable again when bulls return???

You are mining using expensive mining rigs you really need to calculate if you are indeed making a profit or would be making a profit, I am mining two coins right now, they are already in the market and I don't need expensive mining rigs, you might want to check out these two coins,
JSECoin and Banano, you can mine using a browser, or using folding @ home to mine Banano.

[Herbert2020]

mining always requires a lower electricity cost and preferably a cheaper equipment access too. if you have that then you can make it profitable and if you don't it doesn't matter if it is a pumping season or not, you will have trouble making profit.
as for the market trends you always want to mine when coins are being pumped and also it is preferable to switch between the coins to always mine the pumping coins and not so much as those that are done pumping and have entered their dumping phase.
(it is best if you ask these questions in the altcoin mining board.)

[ccsang]

Will mining be profitable again when bulls return???

Yes, mining will be profitable when bull run return, that time everything will in green status and all people will profitable like 2017, but when? may you wait for the unknown date coming and still able to cover your electricity cost? I think you should check your mining rig, maybe you need to adjust your mining settings to lower electricity cost, don't mining ETN anymore and tried to find some valuable coins. Some of my friends even they don't earn too much profit in current condition, but still able to use their mining rewards to pay the bills.

[jossiel]

No doubt that mining altcoins will be profitable again for non exclusive miners when the bulls return and this kind of topic must be discussed on Mining (Altcoins).

There's a bunch of experts in mining alts there.

[Ailmand]

You should've think of it carefully before venturing into mining. In some countries mining is not sutainable due to energy cost, not to include maintenance, and the cost of rigs. Never invest into anything without even figuring out if it will be worth it or will it be profitable in thw long-run.

[Imoote]

Since the market has decreased at various prices of coins, I no longer do the name mining, because the results are no longer as expected, if I used to do mining just a short time later I immediately stopped because the rules and rewards were always different.

[filipe3x]

It seems to me that you need to look at small coins that have a high-quality user base and a clear development algorithm. The complexity of their mining is usually not high, and the potential for price growth is present.

[Red-Apple]

yes it will be more profitable when the pumpers start up again BUT you are going to be choosing a tiny profit compared to the profit that can be found in trading because mining costs a lot of money and also you can never dump it as fast as you can dump the coins while trading. not to mention that while trading you can easily and near instantly go from one coin to another (like when one coin is dumped and another is starting to pump) but you can not do that in mining.
so maybe it is best if you start trading instead of mining since you have already tried that and failed at it.

[Chika08]

Back in December 2017 when mining coins are still damn profitable a friend told me about how much he was making from mining and I decided to check it out, I was hooked and I can't keep my mind off it so I venture into setting up my own, the first coin I started mining was electroneum but unfortunately I wasnt able to recover half of ROI back before bears take over the market and now mining seems hopeless, my question to miners like me out here is how are you guys managing? Will mining be profitable again when bulls return???

I believe Mining will be profitable again though but it will take time to gradually get back to normal.  If you are Mining and don't have a good return,  I suggest you hold on for now till the market is better

[HardFireMiner]

I am still mining it is a bit profitable. Achieved ROI in July 2017, bought most of the equipment in April 2017.

[Bttzed03]

Better move this topic to  Mining (Altcoins) section

Not sure if you could really call it a FOMO, it was probably a good decision to invest in mining at the time. What happened to your friend who introduced you to mining? Did he/she sold his/her rigs last year?

Will mining be profitable again when bulls return???

More likely but it still depends on which altcoin/s you are mining of course.

[bttmember]

I think sooner or later mining is again going to become profitable as the value of key coins like btc and eth grows and im hearing from miners that btc mining has already become profitable as btc is nearing 6000 mark again i will personally still hold btc and eth rather than mining because my conservative targets for btc and eth by the end of this year are 10k and 500 respectively while my optimistic target is 20k for btc and 1k for eth so im more of a hodler than miner myself.

[boltz]

Mining early coins can be profitable but when you want to switch to the big ones , you need big mining power in order to compete with the big ones. I think right now masternodes are the next gen of mining.

[StephenJH]

Back in December 2017 when mining coins are still damn profitable a friend told me about how much he was making from mining and I decided to check it out, I was hooked and I can't keep my mind off it so I venture into setting up my own, the first coin I started mining was electroneum but unfortunately I wasnt able to recover half of ROI back before bears take over the market and now mining seems hopeless, my question to miners like me out here is how are you guys managing? Will mining be profitable again when bulls return???

2017 was a great year for both mining and trading. Depending on the ROI calculation the invested amounts can be increased proportionately. Profitable coins are known by the crypto community and I am sure everyone will greatly share their trading ideas if you need.

[Japinat]

No doubt that mining altcoins will be profitable again for non exclusive miners when the bulls return and this kind of topic must be discussed on Mining (Altcoins).

There's a bunch of experts in mining alts there.

The fact that most altcoins are heavily dump and they only holding a small percentage from its ATH, I believe it is profitable.
When you do mining and you will just save your mine coins waiting for it to rise again, it should give you a good profit.
The last bull run, coins turn over x10 of its price and that makes the miners more profitable.

When you are a miner, you also have a mind of a crypto investor to sell at the timing and maximize your income.

[Script3d]

Back in December 2017 when mining coins are still damn profitable a friend told me about how much he was making from mining and I decided to check it out, I was hooked and I can't keep my mind off it so I venture into setting up my own, the first coin I started mining was electroneum but unfortunately I wasnt able to recover half of ROI back before bears take over the market and now mining seems hopeless, my question to miners like me out here is how are you guys managing? Will mining be profitable again when bulls return???

You should do a research before digging in investment type of stuff, like mining you can still call it as an investment because you are investing your money to make money, you can cut losses now if you think there will be no hope for mining anymore sell your coins and mining rig, mining surely will become profitable again when the price goes up again, the higher the price the bigger the return.

[Pffrt]

It's better to stake these days. I am staking DeepOnion for quite sometimes and having a good profit although the price of DeepOnion is quite low. Moreover, there's no huge hassle. Just set up your wallet and you are okay to go with.