Mining keeps getting rekt

[Metroid]

I can't sell my mining rigs anyway, because (#1) it's dumb to not mine during a bear market

I have a different strategy here, reason I say is dumb to mine in the bear market is because price of any coin is much much much lower than to mine it, 60% at least, in some cases I found to be 500%, so is better to just buy it directly and hold it, mining is not good on any circumstance because gpus are getting so expensive in the bull market that makes it not worth it and the liquidity is there to short in the bull market, in the bear market there is no liquidity enough to short, anyway, mining prior this gpu price rise scalper bs was not bad, good old days you could get a mid gpu for 150 usd example rx 580 and it lasted till this bull market, 6 years, now a rx 580 and all polaris is making negative profit, no different than prior bear markets however we are pre bear market and polaris are already in negative profit in all algos except eth, this will get much worse yet.

[Coinfarm ventures]

I have a different strategy here, reason I say is dumb to mine in the bear market is because price of any coin is much much much lower than to mine it, 60% at least, in some cases I found to be 500%

The difficulty of these coins balances out eventually to the point where mining is slightly more profitable than buying the coin.

I hope I am not cherry-picking, but I looked at historical ETH revenue data. Let's assume one bought a Radeon RX 570 card for $180 of capital cost ($130 card + $50 rig) and depreciated it over 3 years, while power cost was 7 cents. I also assumed the depreciation + power can be deducted at a 20% tax rate. That is $0.33/day of total expenses per card.

In 1H 2020, the revenue for that card was $0.60/day while Ether price was $200 on average. The cost to mine 1 ETH was $150, while the cost to buy it was $200. I also used data from the entire year of 2019, where it was also 20-40% cheaper to mine the coin than to buy it. Even though revenue was 25% lower than 1H 2020, video card were cheaper too. That same RX 570 would only cost $150 ($110 card + $40 rig) in early 2019.

If you bought a Geforce GTX rig during the bear market and mined, like I did, GRIN/RVN provided double the revenue of ETH. The return was higher than an RX 570 mining just ETH.

I already have spreadsheets showing that the ROI from 2019-2020 was 20-40% per year. That is a phenomenal return compared to the stock market. That's why when RTX 3060's cost just $200 or RTX 3080 12GB's cost just $500, I will buy as many as I can. It's most likely going to be much cheaper to mine altcoins than to buy them, just like with Bitcoin.