Opinions about quitting mining

[ACTrend]

Hello! Now mining is good altcoins with low cost. But we cannot guess what their future will be. And mining something worthwhile is no longer profitable. My friend sold his farms. It has become very unprofitable. If it is not difficult for you to mine, then you can continue to continue.

[itos84]

If you are not planning to have a big operation is better to invest that money in BTC or altcoins instead of mining equipment.

[Pamadar]

it is wrong to sell the rig. you can find a better new way to get better than selling a rig. It is a very good money making tool.

it's not until you can find a good coin to be mined with your mining rig. Remember about the competition in mining is very hard today consider about the difficulty of the any major coins the increasing a lot.
It's a good decision when you cna't even create a few dollars from your mining rig everyday.

It's the timing that matters when you are going to invest with new coins, some might provide good results but most are not providing any profits.
Choosing coin is not that easy there's a lots of competitions and a lots of people who also wanted to take the opportunities to mined coins then
 received good benefits after.  Quit if you are not sure about the business or stay if you are willing to take the risk.

[Taskford]

Actually it's not bad to quit if you find your rigs are not giving you any profit since it will give you a headache for continuing operating it and instead earning from it for sure you will lose since the maintenance fee is not cheap for those machine. But the decision still yours and maybe for now try to find a different altcoin and run a test for several months but if the result still the same maybe it's the time to quit and find a reliable business model that can be worth for your money and time.

[wxa7115]

now i start joining airdrops and bounties

Yeah, good luck with those.  With the ico market dead (or at least dying), I have a feeling that bounties are going to become fewer and fewer, just like signature campaigns declined in 2018.  And you're lucky if anything you get from an airdrop holds any value before you can sell it.

I would say that if you're not mining anymore and don't plan to ever again, sell the rig.  But if you have any reservations about not mining again, keep it because you may change your mind.  You never know if altcoins are going to explode through the roof, and mining might become very profitable again.

Most people are very slow to adapt to the new circumstances in the market, the strategy of using bounties and airdrops to try to get some money was effective during 2016 and 2017 but now during the last two years those strategies are just a waste of time, this reminds me of the time in which people used to try to get money out of bitcoin faucets and there was a time in which this was mildly profitable but now it is just a waste of time.

And it seems to me that bounties are following that very same path and I'll not be surprised if in the future many projects decide to not use bounty campaigns to promote their project.

[red4slash]

Actually it's not bad to quit if you find your rigs are not giving you any profit since it will give you a headache for continuing operating it and instead earning from it for sure you will lose since the maintenance fee is not cheap for those machine. But the decision still yours and maybe for now try to find a different altcoin and run a test for several months but if the result still the same maybe it's the time to quit and find a reliable business model that can be worth for your money and time.

if he sells it then he is also ready with new things that he will do, because if he doesn't sell it he will continue to lose. but must be really willing with the consequences that occur in the future. because the decision is in him who owns the rig machine

[jhontwis]

I was mining. But I quit about two years ago. Because I can't afford the electricity. Mining is now in the hands of large companies. It doesn't make sense for a small investor to mining. If the electricity is free, then no more.
There has been a sudden increase in the difficulty of Ethereum mining in recent days. I think there are those who are enthusiastic again.

[#Darren]

Bounties are getting worse and worse, without any possible increase in the future. Mining seems not so attractive as well, because the prices are very low and the difficulty is increasing over time, within 6 months all miners will become trash.

[aomakun]

Bounties are getting worse and worse, without any possible increase in the future. Mining seems not so attractive as well, because the prices are very low and the difficulty is increasing over time, within 6 months all miners will become trash.

but I am sure that mining will be profitable again, and this is only a matter of time in my opinion. but the thread maker wants to sell the machine he has, if indeed he has a strong desire then just do it and get ready for another place

[aamirsuh]

Mining the people who need to be more careful in this case. Because the rules for Bitcoin mining much else.
1. You don't need to make a profit.
2. Miners also makes long-term plans yatırımcılardırç
3. smart traders should be selling at the right time.

[carlzec]

I wish there was a better way for mining. Mining is a fun hobby. I'm interested in new technologies. But the electricity costs too much. It's unreasonable to do things that might hurt you. A direct altcoin investment can be made instead of mining.

[X-ray]

but I am sure that mining will be profitable again, and this is only a matter of time in my opinion. but the thread maker wants to sell the machine he has, if indeed he has a strong desire then just do it and get ready for another place

if you are individually mining bitcoin with GPU there's just no hope anymore because the presence of ASIC miners and it will be profitable again either if the price goes really high or the most of people quitting mining therefore less hash power which means less difficulty (will adjust after 2000 blocks). However, plenty of altcoins can still be profitable for mininig, just need to be selective.

[leatutz]

Tell me if my plan is bad, the first time i entered crypto space i started with mining rig setups but after some time its no more profitable so i stopped mining, now i start joining airdrops and bounties but present market condition is not helping, now i decide to sell my rig and find other business to divert the money to, if bull run ever comes i will still have coins to sell since most of my bounties i hold the ones with use cases, is selling my mining rig a good call?

Now mining reward is twice than 2021, without bullrun everything is non-profit like mining, trading or bounty hunting. But stay alert mining will start when another halving will come of Bitcoin. Until now staying by trading or bounty hunting as a part time job.

[bgaf]

Some are still gaining profit even the difficulty is getting high. Commensurate with the market prices of coins that can be mine its really a good start up to prepare in mining and not just buy a rig and set up to get leverage income isn't that so simple as it sounds. I advise you to hold it for a while or unless you van find a buyer that can compensate all youre expenditure on that set.

[pikkie]

Some are still gaining profit even the difficulty is getting high. Commensurate with the market prices of coins that can be mine its really a good start up to prepare in mining and not just buy a rig and set up to get leverage income isn't that so simple as it sounds. I advise you to hold it for a while or unless you van find a buyer that can compensate all youre expenditure on that set.

indeed there are still many people who are still doing cryptocurrency mining but you have to know that now if you have a few mining tools then it's difficult to be able to make a profit, at least you have to have a mining class company to be able to get a lot of mining results, the price at the exchange place which is still very cheap and not conducive is what makes mining a little profitable.

[Bossfidelity]

Tell me if my plan is bad, the first time i entered crypto space i started with mining rig setups but after some time its no more profitable so i stopped mining, now i start joining airdrops and bounties but present market condition is not helping, now i decide to sell my rig and find other business to divert the money to, if bull run ever comes i will still have coins to sell since most of my bounties i hold the ones with use cases, is selling my mining rig a good call?

In my opinion, mining is not a lucrative venture especially when you're into small scale mining. It's best you sell off your mining rigs since you don't intend continuing with it, instead of leaving it idle without making money out of it. Bounty is a better option for earning some income, though it's not stable but could be lucrative.

[aardvark15]

Tell me if my plan is bad, the first time i entered crypto space i started with mining rig setups but after some time its no more profitable so i stopped mining, now i start joining airdrops and bounties but present market condition is not helping, now i decide to sell my rig and find other business to divert the money to, if bull run ever comes i will still have coins to sell since most of my bounties i hold the ones with use cases, is selling my mining rig a good call?

In my opinion, mining is not a lucrative venture especially when you're into small scale mining. It's best you sell off your mining rigs since you don't intend continuing with it, instead of leaving it idle without making money out of it. Bounty is a better option for earning some income, though it's not stable but could be lucrative.

Mining is becoming less profitable for small miners that have outdated equipment. The big mining farms are more efficient than us small guys. It’s almost better to just buy Bitcoins rather than mine them right now.

[Shasha80]

If it is true what you say, that undergoing mining is no more profitable anymore. That means the decision made is right, with quitting the
world of mining. But in my opinion, don't sell the mining rig you have, who knows if you change your mind and want to start mining again
doesn't need to buy a mining rig anymore. Now my advice is to stop mining for a while first, while looking at market conditions for the next
few months. Do not be too hasty in making a complete resign decision from the world of mining. For now try searching another way to make
money, maybe try trading who knows in the world of trading luck on your side. But if you want to trade, you have to be careful seeing market
conditions are still bad.

[bittick]

it is wrong to sell the rig. you can find a better new way to get better than selling a rig. It is a very good money making tool.

it's not until you can find a good coin to be mined with your mining rig. Remember about the competition in mining is very hard today consider about the difficulty of the any major coins the increasing a lot.
It's a good decision when you cna't even create a few dollars from your mining rig everyday.

It's the timing that matters when you are going to invest with new coins, some might provide good results but most are not providing any profits.
Choosing coin is not that easy there's a lots of competitions and a lots of people who also wanted to take the opportunities to mined coins then
 received good benefits after.  Quit if you are not sure about the business or stay if you are willing to take the risk.

As long as you are putting the product as your main consideration and nothing to worry about that. even if there will be a lot of the competitors for such coin but as long as it was have the best product among others and people will actually use the product. But to mine the major coins look very difficult these days.

[ableh]

Tell me if my plan is bad, the first time i entered crypto space i started with mining rig setups but after some time its no more profitable so i stopped mining, now i start joining airdrops and bounties but present market condition is not helping, now i decide to sell my rig and find other business to divert the money to, if bull run ever comes i will still have coins to sell since most of my bounties i hold the ones with use cases, is selling my mining rig a good call?

The crypto price is already in the red zone and tends to decline. On the other hand, the difficulty level and the number of competitors is too high now, so I think your choice is right. Many whale mining companies have closed because they cannot cover operational costs, so from this reason you can reconsider your decision.