Mining keeps getting rekt

[Widdop37]

Lol, crypto mining is getting rekt every day, a 100MH now earns you 3.4$ per day, what the heck is going on  even now the LHR unlock won't matter in a matter of weeks, many will get pissed off and start turning off their mining rigs, how ready are you hardcore miners? It's going to be one hell of a journey over again.

[BitKongy]

It is what it is  I am sure that the complete LHR unlock on graphic cards also affected the 24hrs mining rewards, at this point there is nothing anyone can do about it, now it's only a matter of time, if Bitcoin keeps losing value Ethereum will keep going down too, if Ethereum goes down to 1500$ a 100MH won't do more than 1.5$ per day lol, miners are going to get angry at one point.

[arielbit]

remember ETHlargement pill was released at the start of bear market. 

[badbart]

Lol, mining has been great for 2 years no reason to complain.  This is how markets work, you will not have high unreasonable profits for years on end.

[Pendrak]

Pretty normal whats happening.

[Coinfarm ventures]

If you think $1.50 of revenue/day for 100 Mh/s is too little, wait until the true bear market starts after ETH PoS... we'll be lucky to get $0.80/day of revenue for 100 Mh.

[adaseb]

I remember back in the 2018-2019 ETH bear market days. I think my old RX 470 4GB made like $0.20 profit using $0.20 electricity. So basically broke even. It was 30mhs or close to it. So that’s equivalent to like $0.70/100mhs.

Yeah mining sucked and it was cheaper to buy. ETH kept going lower and lower and I was waiting for those with expensive power to shut off their rigs, they never did. Difficulty was always high, even in bear market.

[Coinfarm ventures]

I remember back in the 2018-2019 ETH bear market days. I think my old RX 470 4GB made like $0.20 profit using $0.20 electricity. So basically broke even. It was 30mhs or close to it. So that’s equivalent to like $0.70/100mhs.

Yeah mining sucked and it was cheaper to buy. ETH kept going lower and lower and I was waiting for those with expensive power to shut off their rigs, they never did. Difficulty was always high, even in bear market.

It was far more profitable to mine GRIN/RVN since I had GeForce cards. Revenue was $0.60-0.80 while power was $0.25/day. At least the video cards only cost $135 for GTX 1060 6GB's.

[YellowSwap]

I remember back in the 2018-2019 ETH bear market days. I think my old RX 470 4GB made like $0.20 profit using $0.20 electricity. So basically broke even. It was 30mhs or close to it. So that’s equivalent to like $0.70/100mhs.

Yeah mining sucked and it was cheaper to buy. ETH kept going lower and lower and I was waiting for those with expensive power to shut off their rigs, they never did. Difficulty was always high, even in bear market.

It's still too early for mining farms to shut down their rigs at this time, crypto mining is still a bit profitable, not until the whole profit isn't there anymore many will still keep mining no matter what's happening, is Ethereum made it down to 1000+ profit will be toast.

[Coinfarm ventures]

It's still too early for mining farms to shut down their rigs at this time, crypto mining is still a bit profitable, not until the whole profit isn't there anymore many will still keep mining no matter what's happening, is Ethereum made it down to 1000+ profit will be toast.

Many (stupid) n00b miners who were expecting to get rich quick will panic, shut down, then sell their rig. That's what I did in 2018, except I sold 10 rigs for pennies on the dollar to 2 lucky buyers who probably made 500% ROI by now. I remember packing three boxes with 20 GTX 1060's each, then sending them off for just $140 per card.

[GEMIN_M4]

It's still too early for mining farms to shut down their rigs at this time, crypto mining is still a bit profitable, not until the whole profit isn't there anymore many will still keep mining no matter what's happening, is Ethereum made it down to 1000+ profit will be toast.

Many (stupid) n00b miners who were expecting to get rich quick will panic, shut down, then sell their rig. That's what I did in 2018, except I sold 10 rigs for pennies on the dollar to 2 lucky buyers who probably made 500% ROI by now. I remember packing three boxes with 20 GTX the 1060s each, then sending them off for just $140 per card.

I don't quite get that, you sold a box containing 20 GTX1060 graphic cards for 140$? What 😦  ?? I could remember that a single 1060 costs 70$ when things got even uglier at that time, I wasn't a miner and I can't afford the card still, God damn! That was a giveaway mehn.

[sxemini]

It's still too early for mining farms to shut down their rigs at this time, crypto mining is still a bit profitable, not until the whole profit isn't there anymore many will still keep mining no matter what's happening, is Ethereum made it down to 1000+ profit will be toast.

Many (stupid) n00b miners who were expecting to get rich quick will panic, shut down, then sell their rig. That's what I did in 2018, except I sold 10 rigs for pennies on the dollar to 2 lucky buyers who probably made 500% ROI by now. I remember packing three boxes with 20 GTX the 1060s each, then sending them off for just $140 per card.

I don't quite get that, you sold a box containing 20 GTX1060 graphic cards for 140$? What 😦  ?? I could remember that a single 1060 costs 70$ when things got even uglier at that time, I wasn't a miner and I can't afford the card still, God damn! That was a giveaway mehn.

yeah i bought 30x P106-100 for 70$ years ago or the P106 with 3GB for 25$ - this cards are good on flux or ergo.  good deals

[5W-KILO]

It's still too early for mining farms to shut down their rigs at this time, crypto mining is still a bit profitable, not until the whole profit isn't there anymore many will still keep mining no matter what's happening, is Ethereum made it down to 1000+ profit will be toast.

Many (stupid) n00b miners who were expecting to get rich quick will panic, shut down, then sell their rig. That's what I did in 2018, except I sold 10 rigs for pennies on the dollar to 2 lucky buyers who probably made 500% ROI by now. I remember packing three boxes with 20 GTX the 1060s each, then sending them off for just $140 per card.

I don't quite get that, you sold a box containing 20 GTX1060 graphic cards for 140$? What 😦  ?? I could remember that a single 1060 costs 70$ when things got even uglier at that time, I wasn't a miner and I can't afford the card still, God damn! That was a giveaway mehn.

yeah i bought 30x P106-100 for 70$ years ago or the P106 with 3GB for 25$ - this cards are good on flux or ergo.  good deals

I will be happy to get such a deal today but I doubt this will happen any time soon, it will takes months into a bear market phase to get graphic cards at such a price, lick are those who built a whole mining farm with LHR graphic cards, now they have almost double hashrate out of no where.

[sxemini]

It's still too early for mining farms to shut down their rigs at this time, crypto mining is still a bit profitable, not until the whole profit isn't there anymore many will still keep mining no matter what's happening, is Ethereum made it down to 1000+ profit will be toast.

Many (stupid) n00b miners who were expecting to get rich quick will panic, shut down, then sell their rig. That's what I did in 2018, except I sold 10 rigs for pennies on the dollar to 2 lucky buyers who probably made 500% ROI by now. I remember packing three boxes with 20 GTX the 1060s each, then sending them off for just $140 per card.

I don't quite get that, you sold a box containing 20 GTX1060 graphic cards for 140$? What 😦  ?? I could remember that a single 1060 costs 70$ when things got even uglier at that time, I wasn't a miner and I can't afford the card still, God damn! That was a giveaway mehn.

yeah i bought 30x P106-100 for 70$ years ago or the P106 with 3GB for 25$ - this cards are good on flux or ergo.  good deals

I will be happy to get such a deal today but I doubt this will happen any time soon, it will takes months into a bear market phase to get graphic cards at such a price, lick are those who built a whole mining farm with LHR graphic cards, now they have almost double hashrate out of no where.

Yes but now all LHR cards have more hashrate - diffi increase, profits go down - so in the end you get same amount of ETH.

I wait for the next bear market to update my 200 GPU´s

[Metroid]

This will get worse and worse, luckily eth still around and profit still high to where this will get once eth goes pos, after eth goes pos expect everything to be negative profit for at least 6 months. You trolls dont know how bad this will get, 95% of you all are spoiled, a 3070 60mhs got to almost 10 usd per day at top, soon will be around 10 cents at bottom. This is how extreme mining and cycles are, when you invest in something, always expect the worse and if you are still okay with the worse then you have nothing to fear.

[Daodex]

Lol @Metroid, you those who have been in this game for a long time would understand, right now you have a smelly mouth they say, hehe I bet 90% of miners won't be able to keep up, I've prepared myself because bad market in crypto space is norms and I have gotten used to it, its always the every 4years cycle.

[0verseer]

I remember back in the 2018-2019 ETH bear market days. I think my old RX 470 4GB made like $0.20 profit using $0.20 electricity. So basically broke even. It was 30mhs or close to it. So that’s equivalent to like $0.70/100mhs.

Yeah mining sucked and it was cheaper to buy. ETH kept going lower and lower and I was waiting for those with expensive power to shut off their rigs, they never did. Difficulty was always high, even in bear market.

Cause most of the mining rigs in ETH now are already running way over their ROI. You won't see them turn off their rigs anytime soon, so the diff will stay this way until the diff bomb forces them out because of the PoW-PoS transition.

[Coinfarm ventures]

Lol @Metroid, you those who have been in this game for a long time would understand, right now you have a smelly mouth they say, hehe I bet 90% of miners won't be able to keep up, I've prepared myself because bad market in crypto space is norms and I have gotten used to it, its always the every 4years cycle.

I can't sell my mining rigs anyway, because (#1) it's dumb to not mine during a bear market, (#2) I'll incur depreciation recapture under IRS Section 179, forcing me to pay $10k of additional income tax.

[adaseb]

There are miners out there that will capitulate.

It doesn’t make sense but the issue is that many miners bought most of their gear on credit. Typically with a credit card with some 20% APY rate.

It will reach the point where they will need to sell everything ASAP because the interest alone will be more than the profits from mining.

Sad story but I’ve seen it happen.

[MidNite36]

It's not the market's fault or Ethereum's fault that the market turned out this way, I mean its very soon for such to happen, I put all the blame on Luna CEO and UST if not things will go really slow, at this stage if ETH failed to go PoS algorithm they are bastards.