GPU mining is dead. Yeah, sure thing!

[Metroid]

I'm planning to sell close to 4.6 ~ 5k which is what i said would be the top, ...

Are you planning to ladder out (i.e. cost average out) or sell all in one go?

I'm also interested to hear from others who have been mining/saving their ETH since 2018. How are you guys planning to sell? Laddered? One shot?

I sold 80% when eth hit 1.5k, kept 20% to sell close to 5k, I mean even though I was 80% sure eth would not get higher than 2k, those 20% i kept, are coins that I'm willing to lose, meaning only a stupid price would make me to sell it, I mean higher or closer to or than 5k, 1k to 5k is a very good return for early investors, so, I advise to sell 80% around this price, other 20% if eth gets higher than 5k, as soon this market crashes, everything will crash 90% ~ 95% from top, people who sold close to top will then rebuy it very cheap, eth will crash to 100 ~ 300 usd again, flash crash, then stabilize around 500 usd for the next 2 years or so then up again to 2k close to eth 2.0 then crash again to 1k then after 2 years then go back top 5k and then 10k. This 5k usd eth is eth 2.0 price, so eth 1.0 is at moment very overpriced. People will take profit and keep life going, so eth will crash a lot as soon life gets back to normal, the vaccine will make billionares sell their eth to use for everyday life things, 40x return is already too good to miss.

[philipma1957]

I'm planning to sell close to 4.6 ~ 5k which is what i said would be the top, ...

Are you planning to ladder out (i.e. cost average out) or sell all in one go?

I'm also interested to hear from others who have been mining/saving their ETH since 2018. How are you guys planning to sell? Laddered? One shot?

I sold 80% when eth hit 1.5k, kept 20% to sell close to 5k, I mean even though I was 80% sure eth would not get higher than 2k, those 20% i kept, are coins that I'm willing to lose, meaning only a stupid price would make me to sell it, I mean higher or closer to or than 5k, 1k to 5k is a very good return for early investors, so, I advise to sell 80% around this price, other 20% if eth gets higher than 5k, as soon this market crashes, everything will crash 90% ~ 95% from top, people who sold close to top will then rebuy it very cheap, eth will crash to 100 ~ 300 usd again, flash crash, then stabilize around 500 usd for the next 2 years or so then up again to 2k close to eth 2.0 then crash again to 1k then after 2 years then go back top 5k and then 10k. This 5k usd eth is eth 2.0 price, so eth 1.0 is at moment very overpriced. People will take profit and keep life going, so eth will crash a lot as soon life gets back to normal, the vaccine will make billionares sell their eth to use for everyday life things, 40x return is already too good to miss.

Yeah had 1,000,000 doge  at only 2500 usd it grew to 64000

so I sold it. 

I could have held it and got 710,000 to 740,000 with a perfect sale.

I did buy a lot of gpus with the profits and have made good money mining the eth.


You did well and still can get a good sale at 4600  or maybe 5-6k

[adaseb]

this is not a financial advice.

 but the previous cycle showed that you can still ROI 1 year from the peak of the bull run (more like the first year of bear market). of course it depends on "your circumstances/situation".

Well if I recall when ETH peaked in Jan 2018, it was still profitable mining it all the way until Nov 2018, but from there on, unless you got very cheap power it just wasn't worth it. It would of been better to buy it instead of mining it. So it was almost a year ~10 months.

With 2014 peak however it was different. Everything topped in Nov 2013 however the profits quickly were evaporating especially if you were mining with GPUs. I remember with a R9 280X, you made like $10/day in Jan 2014, then $5/day in Feb, $2.50,$1.25,etc,etc. It got quickly unprofitable sometime in May-June. Mostly due to the fact that each GPU used like 300 Watts instead of 100 Watts like today.

This is the time when scrypt was ASIC'd and then monero with cryptonight algo continued profitability for quite a while and some shitcoins along the way before ethereum comes to save the day.

From what I recall monero was never really profitable ever for me. I remember after ASICs hit Scrypt, I moved on to X11 and mine Darkcoin (now Dash) did that for a few months until profitability went down the drain and there was small cap coins like Jackpot Coin, 8Bit Coin, Boolberry, etc. And it wasn't until a year later that ETH was launched.

However ETH wasn't profitable then. It basically launched, and I think most people dumped their ICO profits and it wasn't profitable until maybe beginning of 2016. And from that time on until end of 2018, mining profits were very profitable.

[Metroid]

I bought all those eth when it was around 100 usd, so that was 15x profit by have sold at 1.5k usd, not bad considering I have held eth and saw that march 11 2020 crash, from 300 usd to all the way to 86 usd again, plus other pump and dumps, so it was not easy but i held strong to a point I saw it was time to take profit, yeah I could have got almost 3 times that, I mean my 20% I held is 60% total of the money I got from selling those 80% eth at 1.5k usd but that is what things are, unpredictable, I mean, crypto is like that, it can rise a lot and can crash a lot, so we traders must be very careful about that, I mean, decide when to buy or when to sell, is not easy. I will reinforce here that the time to buy crypto is not now, hold the urge, time to buy is 6 months after the bear market hits, buying when this crashes now is a mistake because it could keep crashing.

[arielbit]

this is not a financial advice.

 but the previous cycle showed that you can still ROI 1 year from the peak of the bull run (more like the first year of bear market). of course it depends on "your circumstances/situation".

Well if I recall when ETH peaked in Jan 2018, it was still profitable mining it all the way until Nov 2018, but from there on, unless you got very cheap power it just wasn't worth it. It would of been better to buy it instead of mining it. So it was almost a year ~10 months.

With 2014 peak however it was different. Everything topped in Nov 2013 however the profits quickly were evaporating especially if you were mining with GPUs. I remember with a R9 280X, you made like $10/day in Jan 2014, then $5/day in Feb, $2.50,$1.25,etc,etc. It got quickly unprofitable sometime in May-June. Mostly due to the fact that each GPU used like 300 Watts instead of 100 Watts like today.

This is the time when scrypt was ASIC'd and then monero with cryptonight algo continued profitability for quite a while and some shitcoins along the way before ethereum comes to save the day.

From what I recall monero was never really profitable ever for me. I remember after ASICs hit Scrypt, I moved on to X11 and mine Darkcoin (now Dash) did that for a few months until profitability went down the drain and there was small cap coins like Jackpot Coin, 8Bit Coin, Boolberry, etc. And it wasn't until a year later that ETH was launched.

However ETH wasn't profitable then. It basically launched, and I think most people dumped their ICO profits and it wasn't profitable until maybe beginning of 2016. And from that time on until end of 2018, mining profits were very profitable.

if cryptonight algos were not profitable (and other cryptonight coins) then claymore is a failure with his debut "cryptonote gpu miner v1.0 beta".?? hehe

- CryptoNote AMD GPU Miner (Windows/Linux)
  https://bitcointalk.org/index.php?topic=638915
  Released: June 04, 2014
  First public GPU miner for Monero. It was CPU-only coin before. Dropped now.

https://bitcointalk.org/index.php?topic=3019607
https://bitcointalk.org/index.php?topic=638915
oops i think it was "qoute" but it was "delete"...i just look at the corner of my eye heheh...anyway i screenshot it(opened in another tab). here..



date: June 06, 2014
I would not say thank you if it is not profitable hehe

[Metroid]

What I recall was that monero was the most profitable coin in 2017 with the vegas, a 10 ~ 20 usd per gpu. People actually took months before they spread the word how good those vegas were good for monero. Those vegas were being sold on ebay for almost 2k usd, even the rx 570 was being sold for almost 800 usd but at that time the rx 570 was new 14nm, right now the same rx 570 is being sold for 800 usd ehhe, insane. Welcome to teh world where people have more money than sense but they will learn after the crash.

[Stanlo]

I used to listen to that saying quite a lot and almost started believing it.Fortunately I started again on 16 March 2021 with Rx 6800 XT cards and Rx 5700 XT and so far I have made 2000 USD by mining so the way it is going is great,I think Ethereum may hit 50000 USD in March 2022 and I am not selling anything until then.

50000 USD per ETH is unrealistic to me, it will be wise to sell your ETH anything over 5k USD because bull trap is real, I don't plan on holding coins in this bull season anymore, any coin that gives me good ROI I will instantly change to USDT and wait patiently for months, bear market and bull trap is real I'm just been careful

[Metroid]

I used to listen to that saying quite a lot and almost started believing it.Fortunately I started again on 16 March 2021 with Rx 6800 XT cards and Rx 5700 XT and so far I have made 2000 USD by mining so the way it is going is great,I think Ethereum may hit 50000 USD in March 2022 and I am not selling anything until then.

50000 USD per ETH is unrealistic to me, it will be wise to sell your ETH anything over 5k USD because bull trap is real, I don't plan on holding coins in this bull season anymore, any coin that gives me good ROI I will instantly change to USDT and wait patiently for months, bear market and bull trap is real I'm just been careful

I guess the media and thieves brainwash the sheeps, make the sheeps to buy now and then when the bear market comes, the media want these same sheeps to sell their eth for 100 usd ehhe and then the sheeps sell, funny, the same sheeps would not sell their eth for 5k hehe but they will sell for 100 usd heeh, the bullrun thieves aka market makers, make sheeps think this is going up forever and stay there forever ehhe till they drop the bomb in few minutes and the value crash 50% and then after few weeks it crashes 45% more from top, in 2018 eth crashed 17 times, from 1400 to 80, if eth goes to hehell now then the math tell us to buy back at 240 usd, 1400 x 3 = 4200 usd, 80 x 3 = 240 usd. It sounds impossible right now eth at 240 usd but trust me, if this crashes to hehell right now then that is where it is heading to. There will be a last bulltrap, dont think this is done yet.

[arielbit]

What I recall was that monero was the most profitable coin in 2017 with the vegas, a 10 ~ 20 usd per gpu. People actually took months before they spread the word how good those vegas were good for monero. Those vegas were being sold on ebay for almost 2k usd, even the rx 570 was being sold for almost 800 usd but at that time the rx 570 was new 14nm, right now the same rx 570 is being sold for 800 usd ehhe, insane. Welcome to teh world where people have more money than sense but they will learn after the crash.

didn't get the vegas..only 480's and fury/fury x since i was into ETH and ZEC back then.

speaking of more money than sense..here is something that will give them some sense..when ETH goes to 100 the sellers did dream of selling at 500, 600, 700, 800, 900..at 5k and above sellers can start selling..pumps brings out the buyers, dumps brings out the sellers hehe

[Metroid]

didn't get the vegas..only 480's and fury/fury x since i was into ETH and ZEC back then.

speaking of more money than sense..here is something that will give them some sense..when ETH goes to 100 the sellers did dream of selling at 500, 600, 700, 800, 900..at 5k and above sellers can start selling..pumps brings out the buyers, dumps brings out the sellers hehe

Yeah, so much truth, trolls and sheeps hate hearing that hehe but fear not, time of their dreams to become a nightmare is very close, keep holding sheeps and trolls.

eth transaction fee right now at 30 usd, i'm tellling you trolls, eth is about to go to hehell very soon

[philipma1957]

didn't get the vegas..only 480's and fury/fury x since i was into ETH and ZEC back then.

speaking of more money than sense..here is something that will give them some sense..when ETH goes to 100 the sellers did dream of selling at 500, 600, 700, 800, 900..at 5k and above sellers can start selling..pumps brings out the buyers, dumps brings out the sellers hehe

Yeah, so much truth, trolls and sheeps hate hearing that hehe but fear not, time of their dreams to become a nightmare is very close, keep holding sheeps and trolls.

eth transaction fee right now at 30 usd, i'm tellling you trolls, eth is about to go to hehell very soon

once again.

Jan————- Metroid crash is coming
Feb————. Metroid crash is coming
March——— Metroid crash is coming
April———- Metroid crash is coming
May ———- Metroid crash is coming

One of these months Metroid will call it correctly.

Today eth is 4k+
and it pays over  14 cents an mh at viabtc

at those numbers a 3070 makes over 8 usd a day.

so june 11 it earned 240
and july 11 it would be 480
and aug 11 it would be 720
and sept 11 it would be 960
and oct 11 it would be 1200

will that happen? maybe maybe not.

[laineux]

Today eth is 4k+
and it pays over  14 cents an mh at viabtc

at those numbers a 3070 makes over 8 usd a day.

so june 11 it earned 240
and july 11 it would be 480
and aug 11 it would be 720
and sept 11 it would be 960
and oct 11 it would be 1200

will that happen? maybe maybe not.

And yield is 5 times higher if you had hold your coins from last winter

[Looper_U]

didn't get the vegas..only 480's and fury/fury x since i was into ETH and ZEC back then.

speaking of more money than sense..here is something that will give them some sense..when ETH goes to 100 the sellers did dream of selling at 500, 600, 700, 800, 900..at 5k and above sellers can start selling..pumps brings out the buyers, dumps brings out the sellers hehe

Yeah, so much truth, trolls and sheeps hate hearing that hehe but fear not, time of their dreams to become a nightmare is very close, keep holding sheeps and trolls.

eth transaction fee right now at 30 usd, i'm tellling you trolls, eth is about to go to hehell very soon

Enough already metroid, all those weeks is already enough to make most of your money invested on GPUs back, I'm glad I don't follow your warnings because I bought my GPUs at Feb of this year and now Ive made them ROI back

[fluxy12]

I remember in beginning 2018, metroid telling the world than gpu mining was dead. He was suggesting that every miner was a troll (hehe) and asking everyone to sell that shitty cards.

Now he is just disgusted because he sold all his mining stuff, he is the only troll around now I'm so happy i have not sold my 30 * rx580 in 2018, now they do 7,50 usd per day each sorry metroid, i love you anyway.

[bretthexum]

Hindsight is always 20-20.  Coming from a stock trading professional... those who think they can time the market are absolutely clueless. 

Those who think Eth is going to 50K!  Buy it
Those who think Eth is going to $300?  Short it

Then cherry pick your timeframe... 6 months from now, its 50K.  I was right!   18 months from now, it's $300.  I was right! 

[Refrumatrix]

GPU mining isn't going to die any time soon and also ETH will keep it's PoW algorithm even if they go PoS, I can see new ASIC miners coming in and that just says everything, if those new ASIC miners are not built then I would still be in fear right now but not anymore

[Metroid]

Enough already metroid, all those weeks is already enough to make most of your money invested on GPUs back, I'm glad I don't follow your warnings because I bought my GPUs at Feb of this year and now Ive made them ROI back

hehe, well, I purchased my 2 3080 for 1k usd each in february too but i dont mine with them, I actually use for important stuff, 1, I use for gaming and the other one for deep learning. I'm not a miner, actually, I have never been one, even in bitcoin earlier era, I have always been an investor, buy and sell and vice versa, mining is for losers but hey, is one of my hobbies know about mining and its economics because to be a successful investor in crypto i had to learn about it.

[MoneyJ]

With all those DeFi coming up and cheaper but riskier to do , majority of crypto investor will resort to this new kind of having more ETH than mining .It is simpler to do mining than DeFi because of its complexity in operation

[sxemini]

Enough already metroid, all those weeks is already enough to make most of your money invested on GPUs back, I'm glad I don't follow your warnings because I bought my GPUs at Feb of this year and now Ive made them ROI back

hehe, well, I purchased my 2 3080 for 1k usd each in february too but i dont mine with them, I actually use for important stuff, 1, I use for gaming and the other one for deep learning. I'm not a miner, actually, I have never been one, even in bitcoin earlier era, I have always been an investor, buy and sell and vice versa, mining is for losers but hey, is one of my hobbies know about mining and its economics because to be a successful investor in crypto i had to learn about it.

Mining is for losers? Crypto would not exist without mining! So how stupid is your comment? Why your are here in the mining section? The next level for metroid comments. you will become a meme with your statements XD
You know nothing about mining thats the only truth.

[arielbit]

Enough already metroid, all those weeks is already enough to make most of your money invested on GPUs back, I'm glad I don't follow your warnings because I bought my GPUs at Feb of this year and now Ive made them ROI back

hehe, well, I purchased my 2 3080 for 1k usd each in february too but i dont mine with them, I actually use for important stuff, 1, I use for gaming and the other one for deep learning. I'm not a miner, actually, I have never been one, even in bitcoin earlier era, I have always been an investor, buy and sell and vice versa, mining is for losers but hey, is one of my hobbies know about mining and its economics because to be a successful investor in crypto i had to learn about it.

the profit in ETH mining per 3080 now breached 20$ going to 30$..

at these mining profits of course he will get salty, he's human. with his know how he can build a huge farm given the right circumstances for him.

metroid is anti-miner here because in his circumstance mining is temporary due to electricity price and "the effort-time-money" equation for him. it is smart for him to do that, just like a shitcoin bag that is not profitable for anyone-they should dump them hence he dumped mining, i would recommend it to everyone who are in his position.

for people like philipma1957, who can blast off for a year or two at the start of the bear market. then you should put mining into your portfolio..just like a successful shitcoin turned major, you hold/trade it and profit from it.

and for people who get triggered by metroid just think about market cycles and trends..metroid was right, then metroid was wrong...hell even crypto low iq newbs was also right after investing in pump and dumps....in crypto everyone has a chance to be right, it is a matter of timing.