Opinions about quitting mining

[upyem2k]

To me mining with rigs or hardwares will soon be a thing of the past. Technology is improving by the day and there is a project ongoing called TLS. The concluded their STO few weeks ago and guess what. One can stake his TLS on their platform to mine ethereum and other stable coins. I'm sure many other projects like that will come some and to sell your rig at the time will become impossible. It is possible you sell now.

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[tsaroz]

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?

It's your decision to take. But by mining, you are not just brining a profit to yourself but are contributing towards sustaining the coin. Miners are the soul of crypto (Mineable coins).
What coin are you specifically mining. Both the BTC and ETH do have a huge possibilities of rising sharply next year as BTC goes through halving and ETH through upgrade.

[justdimin]

I think selling the rig is only a good plan if you do not plan to use it. If you want to use the rig there is no point of selling it, if you don't want to use it then whats the point of a rig staying in your basement not being used and collecting dust?

Literally selling it and spending the money on movies or netflix subscription is more valuable than letting it rot in a storage somewhere.

I would totally still use it, it is both helping the ecosystem being faster and cheaper, plus it is also making you some money, maybe it is not profitable but it is still has a revenue that is lesser than the cost so if you can eat the difference you could potentially make a profit in the long run while you are helping the ecosystem yourself. Hopefully you will use it, but if you don't want to use it definitely sell it.

[bitvalak]

Isn't mining still profitable, at the moment there are more transactions that need to be confirmed by miners.
My advice is you better keep running the mine because the miner will always be needed.

[imutlinda]

Isn't mining still profitable, at the moment there are more transactions that need to be confirmed by miners.
My advice is you better keep running the mine because the miner will always be needed.

as far as I know mining is still profitable, but maybe he has other reasons about things that are not profitable. but my advice is it is better not to sell your rig because one day mining will definitely be needed again

[jossiel]

You have no guarantee that those tokens from bounties will ever have a good price if the bull run comes. But you can try if that's your plan however, don't expect that something high would come from them just to save your feeling.

About the decision you made upon selling your rig, if you can't it any longer and you want to sell it, don't ask if your decision was good enough because we can't turn back to the time whether we say you made a bad decision.

[letyouearn]

Buying mining rigs was the worst my decision in the mid  of 2017, heh
Decided to sell them a couple of months ago - I think I did this right. At least I can invest this money in BTC now and will earn something instead of holding useless hardware in my garage...

[adzino]

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?

If you aren't making any profit from mining, then why are you mining in the first place? Just quit. Also, if you think that in the future you will no longer be able to mine do to the cost, then just sell your mining rig.
Airdrops and bounties are just waste of times. You will be making dust amount that won't even cover your transaction fees. Try doing something more efficient!

[romanij]

if you compare mining and participation in bounty programs, then I can definitely tell you that mining is more profitable for you. I do not advise you to sell your mining farm as your coins received from bounty programs may turn out to be wrappers. Mining coins you can choose the most profitable coins. Yes there are times when you want to throw everything and get out of this industry but do not try to do so. Soon your efforts will pay off.

[tenakha]

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?

Since I do not know what the value of the mining rigs is, I can not give an exact idea, but would not it be more profitable to use it instead of selling? After halving, BTC mining will be twice as hard that is why mining may be the most useful choice.

Do not rely on bounty tokens. When the market increases, the bounty tokens are more likely not to increase.

[leowonderful]

If you're already losing money on your rigs, I don't see any reason why not to sell off your rigs. As much as I support PoW mining, there's no telling if mining could become more profitable in the future, and it's not a good nor safe idea to be hoping that it does. You're probably only going to get less money selling the rig(s) in the future as technology and efficiency advances pretty rapidly and used equipment tends to lose value relatively quickly, so if you do decide to sell, doing it quickly is best.

If you think a bull run's coming up ahead, you could use the funds you gain from selling your rigs to just buying some coins and waiting for them to go up as well.

[kawetsriyanto]

It should depend on you. If you never get profits from your mining anymore, I think selling the mining rig setups is the right choice. However, before you decide to sell it, have you tried some different strategies to manage your mining? If you have tried it and found nothing, then it is okay to sell. Anyway, I don't mine to earn Bitcoin, because I think trading is much better for the current condition. Following bounties or airdrops are not a too bad choice, but don't hope to earn much money from them.

[zhengqi]

Time passes and some ways of earning become irrelevant. Simply always need is in search of something new and combines several ways earnings. Then your profit will be much more pleasant.

[huu78]

Selling mining rig now is good, already very hard to look for there just make electricity bills swell but the results are in getting a little.
Indeed unfortunate trend mining early in the first bitcoin is still cheap to be a money seeker that is indeed potent and fast but now instead makes us lose.

[meliodas]

If your equipment is designed to mine bitcoin only and you do not have a lot of capital to upgrade or add more equipments for the upcoming halving next year then it is better for you to quit now and sell it for at least low percentage loss. On the other hand, if you are mining altcoins then there is no need to worry about since you can easily change the commands for your graphics card to mine the altcoin that you want.

[wheelz1200]

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?

It depends on the price obviously, if you can get someone on board at higher than market value than it might be worth it.  Flip that in bitcoin and hold.  Should be a better proposition when thinking in terms of profit. 

[Bitbtc8]

The truth is if you want to sell your mining rigs today it will be for few pennies, i suggest you hold on to them and find new coins with low difficulty rate to mine and sell once they get listed or have good value, presently market condition is the reason why everything looks impossible in crypto space, hopefully things will change

[Stanlo]

You have to acknowledge the truth, for mining the difficulty is way too high and for bounties prices are way too low because of market condition, it will be wise to keep your rigs or sell if you are lucky to see good buyers

[Novatech8]

Though its your choice to make, i sold all my mining rigs and i never regret it, though i sold for lesser value but i still don't regret selling and i divert the money on ETH, locked away in my offline wallet thing market takes a good turn

[DDante]

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?

Dude do not sell your rigs, we are all in crypto knowing how risky it is right? since you are a bounty hunter too why can't you just find new coins with low difficulty to mine? you might get lucky through this as well, two heads is better than one they say, your expectation will altleast no be from bounty hunting alone