Bear market mining

[Skinny48]

Bear market looks like a bad news for miner out there but not for me there are few things that makes bear market an awesome season for miners and investors combined

1. You get more SATS at cheaper price
2. Mining difficulty decreased alot, more room to get more SATS from whatever coins you are mining

[Ceyflix-Rez]

It's a shame that some countries out there have high electricity bill which unfortunately will make miners quit mining once bear market starts, I'm glad I invested on solar panels to atleast get 2000 watts of power once sun 🌞 is up

[EdgeOfSanity]

Its the best time to mine if you can sustain it. Money is made during the bear cycle not bull.

[philipma1957]

Bear market looks like a bad news for miner out there but not for me there are few things that makes bear market an awesome season for miners and investors combined

1. You get more SATS at cheaper price
2. Mining difficulty decreased alot, more room to get more SATS from whatever coins you are mining

This is a bull market for miners and almost a bear market for traders.


I make the same cash value for my btc mined
I make more btc each day
Then I did when coin was 64k

That is not a bear.


Now If I was holding say 1 btc at 64 k it is worth only 34k that is bearish

you need to separate that.  So for me I am half bull /my mine and half bear my holdings

I cash all my

LTC
Doge
Eth that I mine

I hodl my BTC

so far it is working.  I hope this lasts till Jan or Feb 2022

[adaseb]

Yes its true that in a bear market there are less people mining so the difficulty is lower however the price is also lower and most likely unless you got free power, you will be mining at a loss. So even though you can get more sats during a bear market, chances are you are just better off buying it directly rather than mining at a loss.

There are people who mined at a loss for entire 2018 and 2019 and they haven't sold anything until ETH reached ATH again and they made a killing pretty much. However most miners won't do that because they are more concerned with the short term profit rather the long term profits.

[HardCore12V]

Exactly why I'm in for long term mining, I don't care if bear market happens right now as I'm running my rigs on free electricity/solar energy so I'm set for life, bear market do brings more quantities of the coin you mining but how far are you willing to hold till another bull market begins? It's not that easy

[Metroid]

You trolls should get ready for the bear market, is very close, bear market is negative profit, 2 or more years paying to mine, reason I think before the bear market hits, sell all your gpus and stay in fiat then once everything crashes 99% then is time to buy coins, not gpus. Now is time to sell gpus or coins. Bitcoin will rise a bit, i guess to 79k, 79k was my long term price for this year anyway then crash below 10k and hit that legendary cme gap.

[swogerino]

Yes its true that in a bear market there are less people mining so the difficulty is lower however the price is also lower and most likely unless you got free power, you will be mining at a loss. So even though you can get more sats during a bear market, chances are you are just better off buying it directly rather than mining at a loss.

There are people who mined at a loss for entire 2018 and 2019 and they haven't sold anything until ETH reached ATH again and they made a killing pretty much. However most miners won't do that because they are more concerned with the short term profit rather the long term profits.

I am a proud person that did exactly this is 2018,we were mining with RX 470/480/570/580 and I insisted to keep mining even at a loss,we were paying 300 EUR electricity a month and making about 90-100 EUR at that time mining through Nicehash platform.Yes we did make a killing profit during February 2021-April 2021 and we have took our money that invested,some winnings and we even build a 10.000 EUR mining rig with 2021 GPU-s.What I want to say is that if you have the patience to hold,you will be rewarded immensely.I am planning to do that again,I withdraw what I still mine with those RX 4XX/5XX series and I keep what I mine with the new powerful rig.

[FP91G]

Bear market looks like a bad news for miner out there but not for me there are few things that makes bear market an awesome season for miners and investors combined

1. You get more SATS at cheaper price
2. Mining difficulty decreased alot, more room to get more SATS from whatever coins you are mining

"The difficulty of bitcoin changes every 2016 blocks, which is about 2 weeks"
https://en.bitcoin.it/wiki/Difficulty
This is a temporary profit for miners who have the ability to mine in other countries.
When other miners connect their hardware, we will see the reverse process.

[Stanlo]

You trolls should get ready for the bear market, is very close, bear market is negative profit, 2 or more years paying to mine, reason I think before the bear market hits, sell all your gpus and stay in fiat then once everything crashes 99% then is time to buy coins, not gpus. Now is time to sell gpus or coins. Bitcoin will rise a bit, i guess to 79k, 79k was my long term price for this year anyway then crash below 10k and hit that legendary cme gap.

It's metroid again 😓, the same guy that adviced many to sell their GPUs weeks ago, I'm not saying you are wrong but try to understand that many are aware of the risk involved, I've made back my ROI from GPU mining already and I'm willing to keep my GPUs and keep mining even in bear market, it's not always about money making its about hobby

[Bitcoin_Arena]

It depends on how many of your are thinking a like as miners but yes, I would compare it to buying Bitcoin in the dip. It requires when one is planning  to to very patient and wait through out the bear market without selling off their sats cheaply.

This means one has to have extra money to spend on expenses such as power until when the bull run sets in

[Metroid]

It depends on how many of your are thinking a like as miners but yes, I would compare it to buying Bitcoin in the dip. It requires when one is planning  to to very patient and wait through out the bear market without selling off their sats cheaply.

This means one has to have extra money to spend on expenses such as power until when the bull run sets in

Mining on the bear market is useless, better to just buy coins, buying coins on the bull market is asking to be scammed 20 to 50 times, because that is how much you will lose when the bull market is done for and will soon be over, people thinking this will last a long time are being deceived like sheeps by wolves hehe, this profitability on mining never lasts a long time, take july 2016 to january 2018, may 2013 to November 2014 for example and check as far as it goes, that we can see 18 months to be exact. This bullrun started on july 2020, meaning plus 18 moths, we have till the end of this year at best then after this gameover.

I sold 80% when it was high, still have 20% to sell and I will not miss this opportunity this time, in 2018 I made a mistake of not selling my last 20% high then it crashed very fast and decided not to sell after that.

[philipma1957]

Metroid If Btc dropped to 16k I would still be okay.

Basically this time you sold the 80% too soon and held the 20% too long.

If I recall you sold the 80% at close to 2k

and held the 20% past the 4k top we had.

Btw why post here in mining ⛏ you say you trade more than you mine.

My guess,for miners is same as always mine on.

Sell some of the coins you mine.

[Metroid]

I'm just pointing out that if you miss to sell high for this last time that is coming then all your mining efforts will be in vain because in the bear market any mining you have cant even keep your electricity bills. So make sure you sell now or while is high to cover your expenses in the bear market if you decide to keep on mining.

[Evgenklm]

Mining in a bear market is profitable in the long term and depends on the cost of electricity, the author correctly said that the complexity is reduced and you can accumulate SATS until better times.

[Bitbtc8]

I pity new miners that follows metroid kinda advice, they are mostly misleading, the best time to accumulate as a miner is bear market, don't become a crypto miner if your electricity fees are too high and don't stop mining in bear market even when your profits isn't much, remember you are simply getting more quantities of the coins you mining than what you getting in bull market, the only difference is USD value

[FP91G]

I pity new miners that follows metroid kinda advice, they are mostly misleading, the best time to accumulate as a miner is bear market, don't become a crypto miner if your electricity fees are too high and don't stop mining in bear market even when your profits isn't much, remember you are simply getting more quantities of the coins you mining than what you getting in bull market, the only difference is USD value

You think that someone will follow this advice. I don't see the point in selling old video cards as long as they pay off every 6-8 months. If the profit is negative, I will leave only the most energy-efficient video cards to mine, and what to do with the rest I will decide after analyzing the situation on the mining and video cards market.

[Looper_U]

I can't picture myself stop mining in years to come because I use solar panels for mining so I don't have to worry about electricity expenses, on the long term I believe that mining is still profitable if you hold your coins in bear market, people don't actually have the stomach for this that's why they sell equipments once bears take over and this makes mining difficulty goes down.

[Bitcoin_Arena]

Mining on the bear market is useless, better to just buy coins, buying coins on the bull market is asking to be scammed 20 to 50 times, because that is how much you will lose when the bull market is done for and will soon be over, people thinking this will last a long time are being deceived like sheeps by wolves hehe, this profitability on mining never lasts a long time, take july 2016 to january 2018, may 2013 to November 2014 for example and check as far as it goes, that we can see 18 months to be exact.

It's just the same as buying Bitcoin in the bear market and having to wait out until the bull market before you sell. I think it's a good strategy so long as you don't sell your sats in the bear market.

It only seems useless if you mine your Bitcoins and then sell them immediately at low price.

This bullrun started on july 2020, meaning plus 18 moths, we have till the end of this year at best then after this gameover.

The same could be said about trading.

[philipma1957]

I pity new miners that follows metroid kinda advice, they are mostly misleading, the best time to accumulate as a miner is bear market, don't become a crypto miner if your electricity fees are too high and don't stop mining in bear market even when your profits isn't much, remember you are simply getting more quantities of the coins you mining than what you getting in bull market, the only difference is USD value

You think that someone will follow this advice. I don't see the point in selling old video cards as long as they pay off every 6-8 months. If the profit is negative, I will leave only the most energy-efficient video cards to mine, and what to do with the rest I will decide after analyzing the situation on the mining and video cards market.

Selling old cards to get new cards works.

I sold all my 1080tis and got nvidia 3000 series for them.

sold the 1080tis at 400-600 but got in on the 5700 5600 and and some 3000 nvidia at retail.

I timed the turnover well.