To the ones who gave up mining or reduce mining because electricity costs

[Metroid]

The return is more than 6 or 7 years to pay the rig and the solar system

Its a lot more than that and if you think about 6 to 10 years is 3 bitcoin cycles and looking back, every bitcoin cycle, bitcoin rises 10 to 100 times, so reality is, if you spend 10k usd in solar system, those 10.000 dollars could become 10.000.000.000, if you sell and buy at the right time using those 3 cycles. So bitcoin now 10k, in 10 years bitcoin might have reached 10 million. Yes, its that simple.

in 2010 bitcoin was worth less than a dollar. Almost 10 years later, it peaked at 21.000 dollars. So 1, 10, 100, 1000, 10.000, how many cycles? 4 cycles. Math never fail us. Imagine how many bears died along the way? and it looks like bears are in denial right now. Most of them have committed suicide, some are still waiting to buy bitcoin back for 1 dollar, that is the price they sold.

[rdluffy]

The return is more than 6 or 7 years to pay the rig and the solar system

Its a lot more than that and if you think about 6 to 10 years is 3 bitcoin cycles and looking back, every bitcoin cycle, bitcoin rises 10 to 100 times, so reality is, if you spend 10k usd in solar system, those 10.000 dollars could become 10.000.000.000, if you sell and buy at the right time using those 3 cycles. So bitcoin now 10k, in 10 years bitcoin might have reached 10 million. Yes, its that simple.

in 2010 bitcoin was worth less than a dollar. Almost 10 years later, it peaked at 21.000 dollars. So 1, 10, 100, 1000, 10.000, how many cycles? 4 cycles. Math never fail us. Imagine how many bears died along the way? and it looks like bears are in denial right now. Most of them have committed suicide, some are still waiting to buy bitcoin back for 1 dollar, that is the price they sold.

Hey Metroid, I used to follow your tips and everytime you are right
I sold my rigs at the peak of GPUs prices, and I still have the coins I mined
If you have 10k USD in fiat, would you prefer to buy all in BTC or you prefer to buy some rigs with solar system?
Good to see you here

[Metroid]

Hey Metroid, I used to follow your tips and everytime you are right
I sold my rigs at the peak of GPUs prices, and I still have the coins I mined
If you have 10k USD in fiat, would you prefer to buy all in BTC or you prefer to buy some rigs with solar system?
Good to see you here

The best thing to do is hold your coins at moment, not worth exchanging apples for apples. Mining would give less money and would be a lot of work. I would buy eth instead of bitcoin and i would wait around 6k and sell, the target for bitcoin is 100k but it might not reach this time. 50k has 90.9% at this time, 100k although has a slim chance, 14%, it might happen, we never know the extreme till we see it, I remember when bitcoin was $200 and I said bitcoin would reach $6000 and then crash, it reached $6000 and it kept rising. So I thought bitcoin would rise around 30 times, I was wrong, it rose more than 100 times, see we never know the extreme till we see it.

In your case, if you think about mining then only solar power would help, paying $0.20 for each kwh is not wise. Grid-tie would very much help with your endeavor, with 50k usd you could power a warehouse. Wind power is the best alternative if you live close to the sea where there are wind speeds of 30ms or higher, although is very expensive and most high profile wind turbines are around 2 million dollars, not worth if you will only power a warehouse, there should be many warehouses hehe, for a single compound, solar power is the best cost benefit for low scale places. For bigger projects, wind power turbines takes to the next level but pay attention that might required government approval. Those things are huge.

Also, remember that eth real value to btc is 0.2 btc, that is based on supply. As bitcoin rises, eth's real value x bitcoin also rises. As bitcoin rises 10 times x dollar, as eth values rises 10 times x bitcoin. So highest, eth right now 0.032 btc, might rise 10x that, so if bitcoin rises to 80k then eth = 0.32, 24k. I think bitcoin will reach around 50k till 2021, so eth will be around 6k by then.

[dentolas]

well, the search for a renewable energy solution is one of the answers... electricity is by far the most important investment besides the mining hardware and if you find a balanced green solution you'll cut these costs almost completely.
Solar is a good answer but might not be enough as you'll be dependant of btteries by night, or need to sell your excess power to the grid in order to get it back by night

[Metroid]

well, the search for a renewable energy solution is one of the answers... electricity is by far the most important investment besides the mining hardware and if you find a balanced green solution you'll cut these costs almost completely.
Solar is a good answer but might not be enough as you'll be dependant of btteries by night, or need to sell your excess power to the grid in order to get it back by night

Wind power is much much better than solar as long there is wind speeds of 10 ms or more all the time, you dont need batteries at all, is there a place like that? yes but most of those places are isolated and hard to live and require a ton of money to be invested and usually are only done by governments. For example, mountains, Switzerland alps, very high altitude points, another place, close to the coast, in the sea, uk has many of them in Scotland. Those are just some examples.

[Dr.Osh]

Electricity payments are indeed a problem for crypto miners, especially nowadays, when crypto prices are low, and there is a lot of competition. in my opinion, if you still have the desire to do crypto mining, storing it might be a good idea. in the future, maybe a lot of people will make rigs for mining. but, if you really don't want to do that again, selling it is a good idea.

[Metroid]

Electricity payments are indeed a problem for crypto miners, especially nowadays, when crypto prices are low, and there is a lot of competition. in my opinion, if you still have the desire to do crypto mining, storing it might be a good idea. in the future, maybe a lot of people will make rigs for mining. but, if you really don't want to do that again, selling it is a good idea.

Sell your coins in a bull market is very risk unless you think that is the highest it can go, the same can be said about buying in a bear market, buying only if you think it cant go any lower. Price brackets for this cycle, conservative, 30 to 50k, moderate, 50 to 100k, extreme values are 100 to 200k for each bitcoin.

[EdvinZ]

Cryptocurrency cost is not constant. Therefore, when it comes to mining as a business, it makes sense to do it only with very cheap electricity and affordable low-cost mining equipment for mining. If these factors are on your side, then even in periods of strong market downturn you will be able to do profitable mining. In other cases, this can be profitable only if the cryptocurrency market is at the growth stage and digital money is expensive, covering the cost of expensive equipment and expensive electricity.

[rdluffy]

Hey Metroid, I used to follow your tips and everytime you are right
I sold my rigs at the peak of GPUs prices, and I still have the coins I mined
If you have 10k USD in fiat, would you prefer to buy all in BTC or you prefer to buy some rigs with solar system?
Good to see you here

The best thing to do is hold your coins at moment, not worth exchanging apples for apples. Mining would give less money and would be a lot of work. I would buy eth instead of bitcoin and i would wait around 6k and sell, the target for bitcoin is 100k but it might not reach this time. 50k has 90.9% at this time, 100k although has a slim chance, 14%, it might happen, we never know the extreme till we see it, I remember when bitcoin was $200 and I said bitcoin would reach $6000 and then crash, it reached $6000 and it kept rising. So I thought bitcoin would rise around 30 times, I was wrong, it rose more than 100 times, see we never know the extreme till we see it.

In your case, if you think about mining then only solar power would help, paying $0.20 for each kwh is not wise. Grid-tie would very much help with your endeavor, with 50k usd you could power a warehouse. Wind power is the best alternative if you live close to the sea where there are wind speeds of 30ms or higher, although is very expensive and most high profile wind turbines are around 2 million dollars, not worth if you will only power a warehouse, there should be many warehouses hehe, for a single compound, solar power is the best cost benefit for low scale places. For bigger projects, wind power turbines takes to the next level but pay attention that might required government approval. Those things are huge.

Also, remember that eth real value to btc is 0.2 btc, that is based on supply. As bitcoin rises, eth's real value x bitcoin also rises. As bitcoin rises 10 times x dollar, as eth values rises 10 times x bitcoin. So highest, eth right now 0.032 btc, might rise 10x that, so if bitcoin rises to 80k then eth = 0.32, 24k. I think bitcoin will reach around 50k till 2021, so eth will be around 6k by then.

Thank you, again 

I will hold the coins I have for sure, no doubt.
I have the money of my GPUs that I sold and want to invest some, I think I will buy some ETH and BTC
My city is very hot and we have a lot of solar rays, from 8am to 6pm, only a few days with rain, my city is know as "brazilian California", but we don't have strong and constant winds
If I have to mine and sell only when the price rises, it's easier and quickly if I buy the coins, without mine, you are right

Good to see your predictions, I remember when you advised all miners about Zcash and ETH asics