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Author Topic: My own Experience / Profit / ROI with ASIC Antminer E3's from the past 25 months  (Read 400 times)
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December 11, 2020, 12:06:50 AM
Merited by philipma1957 (2), sxemini (2), CjMapope (1)
 #1


I didn't write a detailed topic for long time , but today i got motivated from a " legendary" member here Smiley to give him (or her) Smiley a very detailed information about my own Antminer e3 mining experience from the past 25 months.

This topic might can be a tribute for all those Antminer E3's out there , bc not to many days left for them :)at least not to mine ETH Wink

So im going to quote Him from another topic , and copy and paste my answer for his question.

all of my E3 hashing fine as of today Dec-08-2020 Smiley

YES all my Antminer E3 from the first few batches are still working without any issues.
Still works? Strange seems that there is conflicting info, a few days ago there were 2 people who claimed that their E3 stopped mining on the last DAG. I figured there would be tens of thousands of these units go offline and we should see a hashrate reduction. However looking at,
https://etherscan.io/chart/hashrate

Looks like the hashrate is about to hit a record high again. So obviously it doesn't seem they the E3 have died...yet

Just wondering did you ever ROI on your E3? I was going to order one but the first batch sold out and the later batch was basically double the price. I am wondering if I ever would of ROI if I invested in the E3.

Im sure all my E3 earned me way more money what i paid for those units . My electricity rate is 12cents from June to September , all other months is between 7-8 cents . Im  Doing mining as a business ...
I was lucky , ordered my E3 from the very first batches , if i remember right , in 2018 summer first batches was around 800$ each with shipping or something very close to that . Some gpu or mem went out on those blades , but still all of them hashing . I have those units in the past 25 months if i remember right ...

Lets do a little math with 10 unit and average hashrate around 170MH/s... with 780 watts of power usage ... and current ETH price/difficulty calculation ...
Total investment 10x800=8000$
Total hashrate 10x170=1700MH/S
Total power used for 25 months : 7,8KWH/hours , 187.2KWH/day , 5616KWH/months so 25x5616KWH for 25 months = 140400KWH ...
12cent/kwh power rate for 8 months :5616x8 = 44928KWH for summer months = 44928x0.12=  5391$ for 8 summer months power
8cent/kwh power rate for another 17 months : 5616x17 = 95472KWH for the remaining 17 months , = 95472x0.08 = 7637$ for 17 months power

So for 25 months I paid 13028$ for power to run 10 Antminer E3 , that 10 miner provided me 1700MH/s hashing power .

As of today , You can do a calculation with 0.0345 USD/Day for 1 MHash/s , so with today prices my 10x E3 still earning me 0.0345 USDx1700/day = 58.65$ minus power usage 187.2KWHx0.08cents=14.976$ so the total what im makin as of today with those 10 antminer E3 is still not that bad Smiley  as of today , 12-10-2020 , 58.65$-14.976$= 43.67$/day profit after electricity

If calculating back for the 25 months with today numbers , then this is how its look like :
43.67x30x25 the total money i made with my 10x E3  , if we do the math , then is 32755$  , I paid 8000$ for the 10 E3 25 months ago ,minus power usage, so the profit : 32755-13028-8000=11727$ Profit for 25 months .
Thats on paper with today difficulty , price ... BUT THERE IS A VERY IMPORTAT THING ABOUT MY MINING PROFIT !!! I NEVER SOLD THOSE HARD EARNED ETH'S.

With today price/difficulty ... i can mine around 2.8-2.9 ETH / month
But dont forget ... in 2019 when the difficulty was way lower , actually half what we have now , i was able to mine 5.5-6 ETH/months . Even on this summer i was able to mine around 4-4.5 ETH/monts . Difficulty jumped like crazy from the end of July !  I  still have all those hard earned ETH's from the past 25 months, so the real profit,  is way much higher what i calculated here for you...

I hope i give you a very detailed answer Smiley

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December 11, 2020, 01:17:24 AM
Last edit: December 11, 2020, 01:30:46 AM by Metroid
 #2

for more than 15 months profits were negative for gpus, probably even for this asic miner. Asic mining or gpu mining is a waste of time, to get back what you invested depends on many things, now that we are in the bullrun, everybody saying good things about mining, nobody said anything good about mining on those 15 months of negative profit, trolls, simps and idiots buying gpus now, paying double the msrp will never get back what they paid for. I wonder about the people who paid $800 or plus for a rx 570 if they got their money back.

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December 11, 2020, 02:03:59 AM
Last edit: December 11, 2020, 02:21:43 AM by xxcsu
 #3

for more than 15 months profits were negative for gpus, probably even for this asic miner. Asic mining or gpu mining is a waste of time, to get back what you invested depends on many things, now that we are in the bullrun, everybody saying good things about mining, nobody said anything good about mining on those 15 months of negative profit, trolls, simps and idiots buying gpus now, paying double the msrp will never get back what they paid for. I wonder about the people who paid $800 or plus for a rx 570 if they got their money back.

No one ! have a negative profit , if they hold they coins , and selling them now Smiley ...
My ASICS farm ( ETH ) never ever had a negative profit ... there is 2 exemption where i never get my ROI .. Antminer x3 and Antminer B3 .. Lucky me only get one from each Smiley
My gpu farm never had a negative profit either .... still running my rx 480 / 580 rigs in the past 4 years ... my first builds are still up and running , some rx480 died , so lost maybe 17% of my gpu's in 4 years , mostly Nitros rx 480 ...
Gigabyte , MSI , XFX RX 480 cards barely went out from business ... but rx 480 nitros ... thats a different story
Actually...
... none of my Gigabyte RX480 died in the past 4 years , all still up and running
... None of my RX 580 Special , blue edition cards died in the past years almost 4 years
... 2% of my MSI Gaming RX 480 died in the past 4 years
... 3% of my XFX RX 480 cards died in the past 4 years
... 12% of my Nitro cards are gone ....
Thats my stat for the past over 4 years

All of my cards are 8GB cards ...
Never paid a hefty price for my GPU's ... I bought them always under 250$ ... Only a few times paid more than that price ...
There is a very old topic from the beginning of my mining adventure : https://bitcointalk.org/index.php?topic=1614386.msg16219636#msg16219636

And for all the PPL ( not the smartest ones ) who paid 800$ for rx570/580 cards in 2017 December , still can make around 30$ a month with each cards , minus electricity .... so they probably just hit they ROI Smiley in the past few months ... but if they never sold the mined coins .. then they definitely made some money even with a 800$ rx 570/580 cards Smiley

And there is My advice from 2017 September ... : https://bitcointalk.org/index.php?topic=2208927  ( Read 17543 times as of 21-10-2020 )  Wink

Happy Reading Smiley


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December 11, 2020, 02:32:12 AM
Last edit: December 11, 2020, 02:46:59 AM by Metroid
 #4

And for all the PPL ( not the smartest ones ) who paid 800$ for rx570/580 cards in 2017 December , still can make around 30$ a month with each cards , minus electricity .... so they probably just hit they ROI Smiley in the past few months ... but if they never sold the mined coins .. then they definitely made some money even with a 800$ rx 570/580 cards Smiley


How is that? negative profits for 15 months, negative is negative, no earnings at all, lot of things to pay like electricity and components that die still need to be paid and replaced, since the last bullrun we are around 3 years apart, 15 negative profits, 15 months to break even with electricity and only 6 months of 0.50 usd per gpu, how in the hell they got their money back? You say that because you have not paid $800 or more for any rx 570, 6 months $0.50 x 180 = 90 usd, I ask you again, how in the hell they got their money back? profits right now is 0.71 usd per 30mhs rx 580, this is the highest so far besides the defi bs which we had 20 days or so in august, september which it reached 1 usd per 30mhs.

https://whattomine.com/coins/151-eth-ethash?hr=30&p=120&fee=2&cost=0.12&hcost=800&commit=Calculate

So all in all in my calculation they never even got $100 back from the $800 they spent cause shit happens, like you said gpus die, things die, need to be replaced. Also on your asic miners, you just got lucky because like you said the other 2 asics never got your money back.

You are denying something very important here, maybe your earnings and things you did, helped you in some ways, but I guess they shadowed your reasoning on things, maybe your luck on the eth asics helped to go through the negative profits with the gpus. Miners actually had more than 15 months of negative profits. Price is 6 to 8 times higher than what we had in those 15 to 20 months and the lower eth price was, the more it hurt on electricity.

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December 11, 2020, 04:27:57 AM
Last edit: December 11, 2020, 04:46:20 AM by xxcsu
 #5

And for all the PPL ( not the smartest ones ) who paid 800$ for rx570/580 cards in 2017 December , still can make around 30$ a month with each cards , minus electricity .... so they probably just hit they ROI Smiley in the past few months ... but if they never sold the mined coins .. then they definitely made some money even with a 800$ rx 570/580 cards Smiley


How is that? negative profits for 15 months, negative is negative, no earnings at all, lot of things to pay like electricity and components that die still need to be paid and replaced, since the last bullrun we are around 3 years apart, 15 negative profits, 15 months to break even with electricity and only 6 months of 0.50 usd per gpu, how in the hell they got their money back? You say that because you have not paid $800 or more for any rx 570, 6 months $0.50 x 180 = 90 usd, I ask you again, how in the hell they got their money back? profits right now is 0.71 usd per 30mhs rx 580, this is the highest so far besides the defi bs which we had 20 days or so in august, september which it reached 1 usd per 30mhs.

https://whattomine.com/coins/151-eth-ethash?hr=30&p=120&fee=2&cost=0.12&hcost=800&commit=Calculate

So all in all in my calculation they never even got $100 back from the $800 they spent cause shit happens, like you said gpus die, things die, need to be replaced. Also on your asic miners, you just got lucky because like you said the other 2 asics never got your money back.

You are denying something very important here, maybe your earnings and things you did, helped you in some ways, but I guess they shadowed your reasoning on things, maybe your luck on the eth asics helped to go through the negative profits with the gpus. Miners actually had more than 15 months of negative profits. Price is 6 to 8 times higher than what we had in those 15 to 20 months and the lower eth price was, the more it hurt on electricity.

how in the hell they got their money back? ... very simple ... mined ETH for 4 years and selling all those ETH now ... don't have to be really smart for this Smiley need some brain for mining that's for sure ... not everybody have that for this kind of business  Grin

Try this ... get a rtx 3060Ti ... if you know how to get one ... Smiley you can get one for around 300$ ... and if you smart enough , a little bit of undervolting , overclocking , you can get around 60MH/s out from it ...
Start mining with that card for 4 years .. dont sell your mined ETH ( you probably not going to mine ETH for 4 years bc ETH 2, but maybe you will ...who knows ... )
Come back to this forum and let us know how much ETH you mined with a single RTX 3660Ti card during that 4 years

Based on today numbers , if you mining with 60MH/s for 4 years with a 120watts of power usage and paying 8 cent/kwh :

As of today , You can do a calculation with 0.0345 USD/Day for 1 MHash/s , so 2.07$/day for 60MH/s ..62.1$/months,  120wattsx24=2.8KWH/day , 84KWH/months=84x0.08=6.72$ for electricity / months ...
Numbers are : 62.1$-6.72$=55.3$ profit/months ... six months and you can back your card price ... from there you mining for clear profit ...
Bc we talked about 4 years ... the next 3.5 half years just let your card mine to you , and dont sell your ETH ... sell your mined ETH 4 years from now ... so see you here on 12/10/2024

You can stay in  a looser side , or you can make some money ... but with your view on the mining , you never going to make any $$$

If everything you always saying is true , then this forum should not be exist , no one i mean no one would mine any coins , there should not be a shortage from new ASICS or Graphics cards ....
You just one of the crying baby here . Without any real experience ...
You was always like this in this forum , so from here my suggestion for new miners , members is .. just ignore this guy , he have no real experience , no real knowledge about mining , and probably missing some basic math skill  Grin

Mining always have ups and downs ... if you are one of those who panicking and selling your coins when the price going down , thats your problem ... there is a lot of winners here , and they can make more $$$$, bc some ppl thinking like you do  Grin
Mine and hold your coin ... sell them when its time ... idiots who jumped into mining hoping to get rich fast , now the biggest crying babies here and all over the internet ...

I hope i give you a very detailed answer  Grin


And for all the PPL ( not the smartest ones ) who paid 800$ for rx570/580 cards in 2017 December , still can make around 30$ a month with each cards , minus electricity .... so they probably just hit they ROI Smiley in the past few months ... but if they never sold the mined coins .. then they definitely made some money even with a 800$ rx 570/580 cards Smiley
So all in all in my calculation they never even got $100 back from the $800 they spent cause shit happens, like you said gpus die, things die, need to be replaced. Also on your asic miners, you just got lucky because like you said the other 2 asics never got your money back.

Also on your asic miners, you just got lucky  or maybe I wasn't that stupid to jump into something new , without seeing a real things behind it ...
Just for the record  , my calculations about my mining from the past 25 months are 100% right and legit ... This is my primary Business ... I understand you trying to looks smart on this forum , but please dont ... There is real miners here ... they laughing on your  make no sense posts ... just like I do  Grin

And this is especially for you : https://bitcointalk.org/index.php?topic=2208927 ....

for more than 15 months profits were negative for gpus, probably even for this asic miner. Asic mining or gpu mining is a waste of time, to get back what you invested depends on many things, now that we are in the bullrun, everybody saying good things about mining, nobody said anything good about mining on those 15 months of negative profit

You have some serious issues Smiley I was talking about that 15 months you crying about ... Not My asics or GPU rigs ever produced negative profit ...

Asic mining or gpu mining is a waste of time,    Grin Grin Grin  really ... Huh for you probably waste of time Huh hmmm ... thats a very interesting statement from someone who have no idea what the hell he is talking about ...
Why this forum exist ?
You probably was the same unbeliever when ppl started to talk about bitcoin over 10 years ago , or when ETH was 10$ in 2017 :-)
im not blaming you , i feel sorry for you! ... really ... Sad really sorry my friend ...

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December 11, 2020, 04:41:28 AM
 #6

.........

See how this discussion got, you started attacking me just because you have nothing to counter argument me, so when this happens, I just let it go, this discussion did not need to get to this level, have a nice day.

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December 11, 2020, 04:42:01 AM
 #7

There are miners out there that basically mine and as soon as they get a pool payout sent to their exchange wallet, they market sell whatever that figure is. I don't know how accurate this is,
https://bitinfocharts.com/comparison/ethereum-mining_profitability.html

But it shows you the profitability per USD/day for every 1MH/s of hash. Now if you use Jan 2018 as a start point and yesterday as an end point, you can see that the average for the past 2 years is like 0.027 USD/day per 1MH/s. So an RX 480 which hashes at 30MH/s made an average of $0.81 per day for the last 2 year, if power is $0.10 or so, thats a net profit of $0.50/day.

There were many weeks or months where if you had to pay for power, you were pretty much making almost nothing. So after 2 years at $0.50/day is around $365 per RX 480. If they retailed for $200, you net $165 and now you can resell them for $80 so a net profit of $245.

The real money was made however in hodl'ng those ETHs and selling at the peak last week at $600 however.





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December 11, 2020, 05:28:29 AM
Last edit: December 11, 2020, 06:31:56 PM by xxcsu
 #8

.........

See how this discussion got, you started attacking me just because you have nothing to counter argument me, so when this happens, I just let it go, this discussion did not need to get to this level, have a nice day.

Im not attacking you ! Im telling you my own experience ... But for some reason you just can not imagine mining is can be profitable , but you need to understand what to sell when , what mining hardware to buy when ...
Im not attacking you , but you probably dont want to understand i was talking about that 15 months you blaming ... actually 25 months mining experience with Bitmain ASIC's E3's including your 15 months Smiley
This is my own experience as a miner , not someone who reading between lines all over the internet and reposting things in this forum.
So you attacked me , so i got into defense position ...  Grin

I mined ETH from 2016 .. yes i sold some in the end of 2017 Smiley you can tell me i did not make any profit ... i know exactly what i made with mining , even with just a few GPU's in 2016 ...
I wish i got into this when the same thing happened with bitcoin .. i started my bitcoin mining adventure when BTC was around 300$ ...
Im still a believer ... and history repeating itself ... sold some coin again when ETH was over 600$ not to long ago ...

Choice is always yours , but i dont like , and i dont think its right, when someone without any real mining experience trying to be way to smart and attacking someone with real mining experience ...

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December 11, 2020, 06:12:19 AM
 #9

Running a business in negative for 15 months in the hope of selling high later?

More like gambling than business.
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December 11, 2020, 06:27:28 AM
 #10

Total investment 10x800=8000$...

So for 25 months I paid 13028$ for power ...

What if you had used the entire ~21000$ expenditure to instead buy ETH at around $150 per ETH back in  Jan 2019, and then sold it all now at around $550 per ETH. That would be around $56000 in profit. How far off is that vs. the profit from mining and keeping all mined ETH to sell now?

The "mine vs. buy" topic is something I always think about because I haven't sold any of my mined ETH either (but I must admit I am biased to be pro-gpu-mining because I like to write CUDA kernels for mining, but I do have other crypto investments via direct coin purchase).
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December 11, 2020, 01:02:49 PM
 #11

And for all the PPL ( not the smartest ones ) who paid 800$ for rx570/580 cards in 2017 December , still can make around 30$ a month with each cards , minus electricity .... so they probably just hit they ROI Smiley in the past few months ... but if they never sold the mined coins .. then they definitely made some money even with a 800$ rx 570/580 cards Smiley


How is that? negative profits for 15 months, negative is negative, no earnings at all, lot of things to pay like electricity and components that die still need to be paid and replaced, since the last bullrun we are around 3 years apart, 15 negative profits, 15 months to break even with electricity and only 6 months of 0.50 usd per gpu, how in the hell they got their money back? You say that because you have not paid $800 or more for any rx 570, 6 months $0.50 x 180 = 90 usd, I ask you again, how in the hell they got their money back? profits right now is 0.71 usd per 30mhs rx 580, this is the highest so far besides the defi bs which we had 20 days or so in august, september which it reached 1 usd per 30mhs.

https://whattomine.com/coins/151-eth-ethash?hr=30&p=120&fee=2&cost=0.12&hcost=800&commit=Calculate

So all in all in my calculation they never even got $100 back from the $800 they spent cause shit happens, like you said gpus die, things die, need to be replaced. Also on your asic miners, you just got lucky because like you said the other 2 asics never got your money back.

You are denying something very important here, maybe your earnings and things you did, helped you in some ways, but I guess they shadowed your reasoning on things, maybe your luck on the eth asics helped to go through the negative profits with the gpus. Miners actually had more than 15 months of negative profits. Price is 6 to 8 times higher than what we had in those 15 to 20 months and the lower eth price was, the more it hurt on electricity.

you are right,i have mining ETH 4 years, I agree with you,by the way ,i have 200G ethash,Profits are all happening this year.
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December 11, 2020, 01:56:52 PM
 #12

Running a business in negative for 15 months in the hope of selling high later?

More like gambling than business.

All business is a gamble. 

The trick to business is not being in business...anyone can be in business. 

The trick to business is staying in business.

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December 11, 2020, 02:48:42 PM
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Running a business in negative for 15 months in the hope of selling high later?

More like gambling than business.

It is funny you say this. It is very much like owning a few race horses.  Not betting on them which is gambling.

Owning a racehorse is very very very high risk business.

But if you get a good baby horse on the cheap and the horse wins a lot. you can make millions of dollars.

USA tax law gives a break for horse owners to be a business you need to have 2 winning years out of 7
A normal business in the USA needs 2 winning years out of 5.

The op is talking serious hodl of coin and laying out tons of out of pocket for gear and power to be able to hodl from Jan 2018 to 2020.

Many people can not do this. So they lose.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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December 11, 2020, 03:10:14 PM
 #14

As a newcomer to this space, I appreciate this discussion (in spite of the drama LOL).  I have been looking into this as a long term play, if I decide to go ahead and dive into it.  As many have said, maybe this isn't the time, as equipment is crazy high.  But that's OK, I can learn and do research and wait for prices to come down a little, I'm not in a rush, I want to make sure I understand well before I invest. 

But my primary goal with what I have in mind, isn't to cash flow from this, I do want to HODL the mined coins for a very long time.  If we can guess what crypto would look like in 10 years from now, my guess is that we should probably see great increases in value over that long amount of time.  And then maybe again even more so in 20 years.  I retire in 20 years, a long ways away still.  But if I can mine coins now, maybe just sell enough here and there to cover power that I can't cover out of pocket, or maybe for a screaming deal on additional gear, but just hold the rest long term, what could that value look like in 10 years, 20 years. 

Perhaps this is naïve of me, or over simplified, but as I'm working up my plans for this, I'm looking at how much crypto I can mine, and afford to cover expenses out of pocket.  So I guess another way to say it is how can I use this to invest towards my retirement, rather than using as a revenue stream for today. 

I sell fireworks as a side hustle, I'm hoping for a really big New Years Eve for sales, and I can roll those profits into gear (if I can find any! LOL). 

Mining since 1-19-21 :-)
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December 11, 2020, 04:32:41 PM
Merited by philipma1957 (2)
 #15

I'm always amused at if you bough x coin instead of mining arguments.  GPU mining vs investing/trading are not comparable, its like trying to compare bonds to stocks.  The risk is not the same, one generates income while on generates capital appreciation.  GPUs act as a hedge for your mining income, mining becomes unprofitable turn them off and sell the gpu's.  If you have been smart and bought decent gpus at msrp your loss will be small.  I also hedge my mining income, if prices are high I sell a weeks  worth of mining revenue, if prices continue falling I sell more and more until the market reverses.  This way i collect the intrest on my short position and the risk being close  to zero since I generate the funds to cover any advance in price.    
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December 11, 2020, 05:00:40 PM
 #16

I'm always amused at if you bough x coin instead of mining arguments.  GPU mining vs investing/trading are not comparable, its like trying to compare bonds to stocks.  The risk is not the same, one generates income while on generates capital appreciation.  GPUs act as a hedge for your mining income, mining becomes unprofitable turn them off and sell the gpu's.  If you have been smart and bought decent gpus at msrp your loss will be small.  I also hedge my mining income, if prices are high I sell a weeks  worth of mining revenue, if prices continue falling I sell more and more until the market reverses.  This way i collect the intrest on my short position and the risk being close  to zero since I generate the funds to cover any advance in price.    

There are many tax advantages to mining.

including selling some coin in a good year and buying more gear.  Which lets you have a write off for that year.

or doing a long term hodl of the coins.

You can mine at a loss under usa law 5 out of 7 years.

So if you buy a 1000usd  gpu rig burn 500watts with it or 12kwatts a day or 360 kwatts a month at 14 cents that is 51 dollars in power so for a year it is 600 dollars

2 years is 1200 dollars and the 1000 for the gear = 2200 dollars and you never spend a coin. A lot of people can do this play for 2 years.

Then if shit gets hot you sell the rig and get the same 1000 back. and you laid out only 1200 for power to get the coins. If you have 4 coins after 2 years  and sell 2 at 600 each you have spent 0 usd  to get 2 eth coins.


the down side to this is the coins never go up and the rig goes worthless for mining and worth 300 to 400 for parts.

so after 2 years. you laid out the same 2200. but have a 400 in parts and 4 coins worth 100 bucks a piece. that nets to a 1400 loss.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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December 11, 2020, 06:27:06 PM
 #17

Total investment 10x800=8000$...

So for 25 months I paid 13028$ for power ...

What if you had used the entire ~21000$ expenditure to instead buy ETH at around $150 per ETH back in  Jan 2019, and then sold it all now at around $550 per ETH. That would be around $56000 in profit. How far off is that vs. the profit from mining and keeping all mined ETH to sell now?

The "mine vs. buy" topic is something I always think about because I haven't sold any of my mined ETH either (but I must admit I am biased to be pro-gpu-mining because I like to write CUDA kernels for mining, but I do have other crypto investments via direct coin purchase).

Can you read my post ? do you understand what I'm talking about Huh Why i would buy any ETH in 2019 for 150$ and selling now ? price tripled ... you right that can be a good profit for you .. But im  a person who think very different ...

The point of my topic is i started mining in 2016 when ETH price was between 4-10$ Smiley so if i have a choice i better selling some of my ETH in 2019 when the price was 150$ instead of buying some  Grin , so then im not tripled my coin value , instead my coins from 2016 , worth 15-25 Times more , what it worth in 2016 .. Do you understand now ?

Its my story what i wrote here , just shared with the mining community . Some ppl understand some not. I give a f..ck to be honest w you.

Lot of PPL , members here talking about mining , without any real experience. Some of us doing mining for living , some just for hobby , some just for fun with 1 -2 gpu's .. Personally for me is all started as a hobby , with 1-2 gpu , way before 2016 , then its become more than a hobby , i invested some $$$ in 2016 -2017 so my hobby become a business . From there i did not put any more money into my business , but enjoyed the benefits from all those RX480/8GB cards i bought for 200$ , Those cards are still mining ,and yes it is still profitable to mine with those cards.

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December 11, 2020, 06:37:11 PM
 #18

Running a business in negative for 15 months in the hope of selling high later?

More like gambling than business.

It is funny you say this. It is very much like owning a few race horses.  Not betting on them which is gambling.

Owning a racehorse is very very very high risk business.

But if you get a good baby horse on the cheap and the horse wins a lot. you can make millions of dollars.

USA tax law gives a break for horse owners to be a business you need to have 2 winning years out of 7
A normal business in the USA needs 2 winning years out of 5.

The op is talking serious hodl of coin and laying out tons of out of pocket for gear and power to be able to hodl from Jan 2018 to 2020.

Many people can not do this. So they lose.

!!!EXATLY!!!
Smiley Great Example with the race horses Smiley

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December 11, 2020, 06:58:51 PM
 #19

Running a business in negative for 15 months in the hope of selling high later?

More like gambling than business.

one more times ... i never ever mined for negative profit in the past over 4 years, not with my asic's not with my GPU's ...
Always mined enough coins to cover my power bill , but i paid those bills from my packet , and kept the coins ...

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December 11, 2020, 09:49:16 PM
Merited by philipma1957 (1)
 #20

.........

See how this discussion got, you started attacking me just because you have nothing to counter argument me, so when this happens, I just let it go, this discussion did not need to get to this level, have a nice day.

Im not attacking you ! Im telling you my own experience ... But for some reason you just can not imagine mining is can be profitable , but you need to understand what to sell when , what mining hardware to buy when ...
Im not attacking you , but you probably dont want to understand i was talking about that 15 months you blaming ... actually 25 months mining experience with Bitmain ASIC's E3's including your 15 months Smiley
This is my own experience as a miner , not someone who reading between lines all over the internet and reposting things in this forum.
So you attacked me , so i got into defense position ...  Grin

I mined ETH from 2016 .. yes i sold some in the end of 2017 Smiley you can tell me i did not make any profit ... i know exactly what i made with mining , even with just a few GPU's in 2016 ...
I wish i got into this when the same thing happened with bitcoin .. i started my bitcoin mining adventure when BTC was around 300$ ...
Im still a believer ... and history repeating itself ... sold some coin again when ETH was over 600$ not to long ago ...

Choice is always yours , but i dont like , and i dont think its right, when someone without any real mining experience trying to be way to smart and attacking someone with real mining experience ...

the real question is how much eth could you have bought over the months when eth was $100 to - $150 instead of running your asics and rigs ? $8000 could have bought 800 eth lets say 700 x 600 thats $420k lol and im not even factoring in shipping.  All hes trying to tell you is u think u make money making what $15k but just buying eth at the lows would have crushed what u made buying those asics x20

asics and gpus are a hobby thing now , the time and effort setting up monitoring shipping etc isn’t worth the reward like back in 2016
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