Waiting for bear market to build rigs once again

[Looper_U]

After making back the half price I bought two GPUs I decide to sell at even a higher price, I bought two gtx1660 ti for 300$ each and I've made 150$ per card and I sold them at 400$, this is a neat plan I believe but a friend told me it doesn't make any sense, my plan is to wait for bear market and buy back the gpu at even cheaper rate, at least I made something out of the cards.

Is this a stupid plan or not?

[philipma1957]

After making back the half price I bought two GPUs I decide to sell at even a higher price, I bought two gtx1660 ti for 300$ each and I've made 150$ per card and I sold them at 400$, this is a neat plan I believe but a friend told me it doesn't make any sense, my plan is to wait for bear market and buy back the gpu at even cheaper rate, at least I made something out of the cards.

Is this a stupid plan or not?

So you paid 600 mined 300 and sold them for 800 am I correct?

that means you have 1100 for 600 or a 500 profit.

You plan on holding the 1100 and hope for a crash so you can buy cards.

I think you made money and if you can hold it maybe you can buy a cheap rig.


https://bitcointalk.org/index.php?topic=5333101.msg56865536#msg56865536


this is a good thread and may mean your plan is smart.

[Zotak337]

Nice try  ,this looks like a very good trick, selling your cards before bear season begins a new phase is the best 😌 I might just end up doing the same thing because I bought my cards at high price, getting out before gpu price goes back to normal ain't bad, as high as RTX3*** are on amazon and ebay some people are still buying them as we speak, huge grrrrreeeeeeed mehn

[rdluffy]

Everyone have different approach, and I like to hear about plans about mining

It's a good plan you have, and not different than mine

I'm very close to ROI my cards, and I always consider to sell the cards before any crash, I learned this in 2017-2018 and I'm using now, it's a way to reduce the risks and enjoy both ways of profit
And I do this because I have 0.15 USD electricity cost, maybe with less than 0.10 cents I would try another plan

I don't know about the timing, maybe you sold to early, maybe not, but attention to your plan to buy your rig after a crash, why would you buy again if mining won't be profitable in a bear market?

[baga105]

Everyone have different approach, and I like to hear about plans about mining

It's a good plan you have, and not different than mine

I'm very close to ROI my cards, and I always consider to sell the cards before any crash, I learned this in 2017-2018 and I'm using now, it's a way to reduce the risks and enjoy both ways of profit
And I do this because I have 0.15 USD electricity cost, maybe with less than 0.10 cents I would try another plan

I don't know about the timing, maybe you sold to early, maybe not, but attention to your plan to buy your rig after a crash, why would you buy again if mining won't be profitable in a bear market?

How do you define "profitability" of mining? Are you selling your coins to $ immediately?

[rdluffy]

How do you define "profitability" of mining? Are you selling your coins to $ immediately?

I follow the market and my knowledge, but most of the time I:

Sell ETH for USD to pay electricity, with the remaining amount I sell some to USD, convert some to BTC and hold some to sell in a ATH

It's working well for me, I don't mine at loss because I prefer to turn off the rigs and buy coins directly in a bear market and wait until the next cycle

[philipma1957]

The op -could have a good power deal. He could be short $$ to expand to 4-6 cards.

Me I have a great power deal and tons of power.  Way more power than gear.

I have 1 mega watt if I want.

But that's a big push.  I do have 400kwatts ready as I type with under 130 kwatts used.

I am going to mine and stack $$$ along with some BTC.

It is not a hobby any more it is a small (going on medium business).

4 core partners
3 side partners.

Best years so far.

and
2013
2016
2017
2021 were the money making years.

started in 2012.

the other years
2012
2014
2015
2018
2019
2020

were loser or break even.

I still feel 2021 may have a lot more legs to it then people think (metroid)

[JayDDee]

The short answer is it's never stupid to lock in profit. The question to ask yourself is whether you
would buy those GPUs now for the price you can sell them. If the answer is yes keep them, if no sell.

[philipma1957]

The short answer is it's never stupid to lock in profit. The question to ask yourself is whether you
would buy those GPUs now for the price you can sell them. If the answer is yes keep them, if no sell.

I think the question is what would they earn if he keeps them.

maybe 56mh which is close to $5.50-$6.00 minus power say 1 dollar

so he is netting 4.50 or 900 in 200 days as a maybe.

vs 800 now for sure.

I am think if he sells them at 400+400= 800

He is better off.

I based this on 20 cent power.

If he has super cheap power.

maybe mining is better.

[JayDDee]

The short answer is it's never stupid to lock in profit. The question to ask yourself is whether you
would buy those GPUs now for the price you can sell them. If the answer is yes keep them, if no sell.

I think the question is what would they earn if he keeps them.

It's sort of a perpetual question. "Now" is any point in time until the answer becomes sell.

The price inflated GPU market has shifted the balance significantly. The opportunity to sell well
used HW that has already paid for itself (partly in this case) at higher than purchase price is
difficult to resist.

[philipma1957]

The short answer is it's never stupid to lock in profit. The question to ask yourself is whether you
would buy those GPUs now for the price you can sell them. If the answer is yes keep them, if no sell.

I think the question is what would they earn if he keeps them.

It's sort of a perpetual question. "Now" is any point in time until the answer becomes sell.

The price inflated GPU market has shifted the balance significantly. The opportunity to sell well
used HW that has already paid for itself (partly in this case) at higher than purchase price is
difficult to resist.

yeah no one wants to exit too fast 💨 or too slow.

If your power is cheap just fuck it and mine on.

But a lot of guys and girls are making bank with 20 cent power.

They have a harder choice.
Me I am waiting on a crash to grab cheap gear.

I only try the newegg shuffle cards if won have an okay price.

The op may have costly power.

[adaseb]

When the bear market started back in 2018/2019 were the GPUs really that cheap. I don't think they went down by much. Even the cheapest GPU at the time the RX 570 4GB which retailed for like $175 or so you could still get around 50% of it during most of 2019. And the Nvidia 1080Ti stuff didn't really go down that much in price.

I just think the amount of willing gamers absorbed must of the GPUs that miners wanted to dump and after that wave the prices started to stabilise. The only way really to get ultra cheap GPUs is to buy them when they are sold as is usually due to broken fans.

The ones with broken fans are easy to fix and nobody wants to buy them and they go for very cheap on eBay.

[TheMimic1]

Everyone have different approach, and I like to hear about plans about mining

It's a good plan you have, and not different than mine

I'm very close to ROI my cards, and I always consider to sell the cards before any crash, I learned this in 2017-2018 and I'm using now, it's a way to reduce the risks and enjoy both ways of profit
And I do this because I have 0.15 USD electricity cost, maybe with less than 0.10 cents I would try another plan

I don't know about the timing, maybe you sold to early, maybe not, but attention to your plan to buy your rig after a crash, why would you buy again if mining won't be profitable in a bear market?

If $1000 can get you just two pieces of graphics cards in the bull season then there's a possibility that $1000 can get you four graphics card in bear market so I believe that this will be increase your reward, what OP did makes sense especially if they have free electricity or solar energy

[swogerino]

I am waiting for this bear market to come but I am afraid we will wait quite long.The price of Rx 6800 xt I bought were 1400 Eur each and the Rx 5700 xt used ones I think I got it cheap at 800 Eur.These are not normal prices but me and my friends have another capital of about 3000 Eur to buy new cards.If bear markets come we will jump right in but for the moment I cannot find any good card for mining under 1600 Eur in my local market,RTX 3070 there are lots of them but as I said at 1600 Eur is not a good price.

[Bitbtc8]

I'm not sure you did the right because nobody can tell when this bull market will be over it is possible that this bull market will be around for months or probably till 2022 and I'm sure you will regret selling already because you won't be able to buy cards at cheaper price like you plan

[Metroid]

I just got the new price of the 3060 12gb, 1200 usd where I live, last week was 800 usd. I guess the way things are, idiots will end up paying 5000 usd for a 3090 and 4000 for a 3080, even the old rx 570 4gb is being sold for almost a 1000 usd and idiots are buying. This crash will be epic, very soon this same 3060 sold for 1200 usd will be sold for 200 usd and lower.

[Philipma1957cellphone]

I just got the new price of the 3060 12gb, 1200 usd where I live, last week was 800 usd. I guess the way things are, idiots will end up paying 5000 usd for a 3090 and 4000 for a 3080, even the old rx 570 4gb is being sold for almost a 1000 usd and idiots are buying. This crash will be epic, very soon this same 3060 sold for 1200 usd will be sold for 200 usd and lower.

But if you are patient and do not buy way over priced gear. Mine with what you have there is good money on the table.

I figure the op is good for six months. If the market does not crash in six months but crashes 10 months he made a mistake. If the .market crashes in under six months he was smart.

[FloridaKid]

I just got the new price of the 3060 12gb, 1200 usd where I live, last week was 800 usd. I guess the way things are, idiots will end up paying 5000 usd for a 3090 and 4000 for a 3080, even the old rx 570 4gb is being sold for almost a 1000 usd and idiots are buying. This crash will be epic, very soon this same 3060 sold for 1200 usd will be sold for 200 usd and lower.

Exactly 😂 but who knows? This bull market might also be the longest in its history, would be painful to see those who buy a card for 1000$ making back their ROI while you did nothing simply because you are too scared of what may happen in future

[rdluffy]

If $1000 can get you just two pieces of graphics cards in the bull season then there's a possibility that $1000 can get you four graphics card in bear market so I believe that this will be increase your reward, what OP did makes sense especially if they have free electricity or solar energy

I know, it makes sense for people with dirty cheap electricity, and in this case, if you have solar or free, better to buy even with high prices, because you'll profit

But imagine the scenario where you can buy 4 cards for 1000 USD like you said, bear market, ETH value of less than 500 USD and hashrate still growing, person paying more than .10cents USD for electricity
How can turn this into profits?

The feeling of a bear market is different, people always say they will go all in if BTC reach 20k again, if ETH costs less than 500, or will buy tons of hardware, but when time comes it's hard to make a decision and buy

[batsonxl]

If $1000 can get you just two pieces of graphics cards in the bull season then there's a possibility that $1000 can get you four graphics card in bear market so I believe that this will be increase your reward, what OP did makes sense especially if they have free electricity or solar energy

I know, it makes sense for people with dirty cheap electricity, and in this case, if you have solar or free, better to buy even with high prices, because you'll profit

But imagine the scenario where you can buy 4 cards for 1000 USD like you said, bear market, ETH value of less than 500 USD and hashrate still growing, person paying more than .10cents USD for electricity
How can turn this into profits?

The feeling of a bear market is different, people always say they will go all in if BTC reach 20k again, if ETH costs less than 500, or will buy tons of hardware, but when time comes it's hard to make a decision and buy

I have very cheap electricity but i will not pay 4x price for that, no way i will buy even eth goes to 5k. Patient always made me correct. Buying 3070 for 1400-1800usd is insane. I can earn much more just trading that money on exchange instead earning 4-5$ a day.