Don't make a big mistake miners

[DevFile90]

Buying LHR cards right now is like putting yourself in a very risky position, don't go out to but LHR cards just because LHR is now fully FHR, mining profit have been affected so badly since LHRs became FHR...

[arielbit]

i agree and disagree

i agree if you can't mine in a bear market.

i disagree if you can and you are in a process of buying FHR and now LHR is cheaper with the same hashrate. price will soon be the same so MOVE FAST!

[rdluffy]

I don't plan to buy any other cards right now, I'll continue to mine with the cards I already have and it's already paid, but it will be interesting enough to follow the changes

We are now in a bear market, electricity costs in most places are rising, cards will change their values (non LHR and LHR) and we are all in doubt about ETH mining ending or the difficulty bombs
Wow, I think this time we have more variables than 2017 to 2018

I saw the prices of the cards right now in my country, but I don't think this unlock will lead to another run for cards, profits are not enough to cause that again

Obs - can you just think about a rise of ETH to 4k USD again? hahahaha

[Coinfarm ventures]

i disagree if you can and you are in a process of buying FHR and now LHR is cheaper with the same hashrate. price will soon be the same so MOVE FAST!

Totally agree. It will be a matter of time until the prices of LHR cards rise, while FHR cards decline. But I would wait for another 1-2 weeks so the recent downturn in BTC/ETH price is reflected in video card prices.

I don't plan to buy any other cards right now, I'll continue to mine with the cards I already have and it's already paid, but it will be interesting enough to follow the changes

That is what I will be doing as well. Now that BTC is cheap, I'll dollar cost average all mining revenue into buying BTC. At the end of the year, I'll decide whether or not to build more rigs. If PoS gets delayed or the PoS merge already happened, I will build a lot more rigs.

[ANSEL_2.0]

It looks like some stupid people are buying LHR graphic cards already or too many people already own many LHR cards, why I said this is because profitability after LHR unlock have gone so down, Now 100MH farm is giving 95$ per month compare to 150$ per month weeks ago.

[YellowSwap]

I won't stop mining any time soon, look at the value of BTC today, if the decrease continues it will be more cheaper to buy BTC so instead of buying ( unless if you have the money ) its better to mine ETH for BTC using Nicehash and start holding for long term.

[Metroid]

It looks like some stupid people are buying LHR graphic cards already or too many people already own many LHR cards, why I said this is because profitability after LHR unlock have gone so down, Now 100MH farm is giving 95$ per month compare to 150$ per month weeks ago.

And is going to get worse, I mean much worse, expect $0.40 cents of a dollar for 60 mhs per day in the bear market on eth, at the moment is $1.50, in november 2018, profitability crashed to $0.10 for 30mhs per day.

I won't stop mining any time soon, look at the value of BTC today, if the decrease continues it will be more cheaper to buy BTC so instead of buying ( unless if you have the money ) its better to mine ETH for BTC using Nicehash and start holding for long term.

To mine 1 btc you need right now around 10k usd, so idiots are overpaying to buy 1 btc right now, they are overpaying 300%, bear market btc value is very close to mined value, so expect btc to possible crash to 10k right now, I know it seems impossible right now or even delusional few months ago a possibility btc can crash to 10k but that is how things are. The longer manipulators hold this 30k btc the greater the chances remain for btc to stay at 30k, every year btc is more valuable but right now is at 10k true value, maybe next year btc true value can reach around 15k - 20k. Anyway, my point is right now is much better to mine btc than to buy btc, if btc crashes to 13k or lower then is much better to buy btc than to mine.

[devil2man]

We must never stop mining even during the bear market just move to the most profitable altcoins at the moment, the lhr gpu cost less than the fhr then now from what i recently read both nicehash and nbminer have managed to get 100% unlock

[StormHawk]

It looks like some stupid people are buying LHR graphic cards already or too many people already own many LHR cards, why I said this is because profitability after LHR unlock have gone so down, Now 100MH farm is giving 95$ per month compare to 150$ per month weeks ago.

And is going to get worse, I mean much worse, expect $0.40 cents of a dollar for 60 mhs per day in the bear market on eth, at the moment is $1.50, in november 2018, profitability crashed to $0.10 for 30mhs per day.

It will surely gets to this stage like you said Metroid, it seems the bear market you have been talking about and warming people about have finally arrived, I bought some graphic cards before the LHR unlocked took place, if this had happened a month ago I will get my money back and avoid buying gpu at that time but now there is nothing I can do, I am ready to hold on and keep mining till 2024.

[Metroid]

It will surely gets to this stage like you said Metroid, it seems the bear market you have been talking about and warming people about have finally arrived, I bought some graphic cards before the LHR unlocked took place, if this had happened a month ago I will get my money back and avoid buying gpu at that time but now there is nothing I can do, I am ready to hold on and keep mining till 2024.

It will take time yet for the true bottom, we are not yet in the bear market, first there is the true bottom then the bear market, we are still in the bull market and bulltraps will still happen, they can still push to 50k one more time.

[Widdop37]

It will surely gets to this stage like you said Metroid, it seems the bear market you have been talking about and warming people about have finally arrived, I bought some graphic cards before the LHR unlocked took place, if this had happened a month ago I will get my money back and avoid buying gpu at that time but now there is nothing I can do, I am ready to hold on and keep mining till 2024.

It will take time yet for the true bottom, we are not yet in the bear market, first there is the true bottom then the bear market, we are still in the bull market and bulltraps will still happen, they can still push to 50k one more time.

Are you serious? Who are you referring to as they? What are the terms that makes you think this will happen again?..

[Metroid]

Are you serious? Who are you referring to as they? What are the terms that makes you think this will happen again?..

History, check 2011, 2014 and 2018, i'm not saying what i'm saying will happen but so far it seems to be going that way again, history once again is proving that since 2011 manipulators control the market and they do the same thing since 2011, it worked so far in all these years, so why would they change it? Rule of thumb, if it works good then do not change it.

[Coinfarm ventures]

It looks like some stupid people are buying LHR graphic cards already or too many people already own many LHR cards, why I said this is because profitability after LHR unlock have gone so down, Now 100MH farm is giving 95$ per month compare to 150$ per month weeks ago.

And is going to get worse, I mean much worse, expect $0.40 cents of a dollar for 60 mhs per day in the bear market on eth, at the moment is $1.50, in november 2018, profitability crashed to $0.10 for 30mhs per day.

I foresee $0.80-$0.90/day of revenue for an RTX 3080 card in the real bear market. This is how conditions were during 2019. What will probably happen is ETH will be unprofitable and most GPU rigs will be mining FLUX/RVN/FIRO/etc. That's what happened in 2019; GRIN provided double the revenue of ETH.

Even at 7¢/kWh, the power cost will be $0.45/day. That leaves us with $0.40 of profit on average. Even if you bought the RTX 3080 for just $400, it would take > 3 years to pay it off. The only hope would be another GPU gold rush.

To mine 1 btc you need right now around 10k usd, so idiots are overpaying to buy 1 btc right now, they are overpaying 300%, bear market btc value is very close to mined value

It is much more expensive than $10k to mine a Bitcoin. Let's assume a farm buys an Antminer S19 95T for $6000 (includes buildout cost) on 5¢/kWh power. The power cost per day is around $4.00. Let's depreciate this miner over 4 years, which is $4.11/day of capital cost.

Cost to run the S19 = power + capital cost = $8.11/day
Bitcoins earned = 0.000407
Cost to mine a Bitcoin = 8.11 / 0.000407 = $19,926

So it's ~$20k to mine a Bitcoin for the average farm out there. I plugged less efficient and more efficient ASICs into this equation, but the end result is the same.

[CryptoATM]

Are you serious? Who are you referring to as they? What are the terms that makes you think this will happen again?..

History, check 2011, 2014 and 2018, i'm not saying what i'm saying will happen but so far it seems to be going that way again, history once again is proving that since 2011 manipulators control the market and they do the same thing since 2011, it worked so far in all these years, so why would they change it? Rule of thumb, if it works good then do not change it.

Hehe he I am with you on this one, whales are always the one controlling the market, they can still pump it one more time before 2024 gets here but that's not my aim right now, I knew the bull market is done for so I have been converting all my BTC and ETH into USDT for weeks, oh since 3500$ per ETH.

[swogerino]

That depends on a person point of view,if for example one believes that in the long run the price of the coins will increase then those persons will disagree with your statement while many people who became afraid and turn off their rigs when price goes down then those will agree with you.Personally I am one of the persons who believe in a big recovery after such a massive crash of Bitcoin price.If the price of cards go down I am get a couple more to increase my hashrate further.

[Coinfarm ventures]

That depends on a person point of view,if for example one believes that in the long run the price of the coins will increase then those persons will disagree with your statement while many people who became afraid and turn off their rigs when price goes down then those will agree with you.Personally I am one of the persons who believe in a big recovery after such a massive crash of Bitcoin price.If the price of cards go down I am get a couple more to increase my hashrate further.

I plan to do the same thing since I have witnessed the 2018-2019 bear market in mining. Even if there's never a big GPU coin again, the ROI seems to be 20-40% at 7¢/kWh for a farm with 500-1000 cards, which is still good.

I see crashes as a great opportunity to buy equipment at below-MSRP prices. I will make money no matter what direction the market goes in.

[Pterosaur]

That depends on a person point of view,if for example one believes that in the long run the price of the coins will increase then those persons will disagree with your statement while many people who became afraid and turn off their rigs when price goes down then those will agree with you.Personally I am one of the persons who believe in a big recovery after such a massive crash of Bitcoin price.If the price of cards go down I am get a couple more to increase my hashrate further.

But this recovery you are expecting is happening when? That's the case with investors, when things or hopes tend to stay too long without any changes that's when people starts to lose hope, BTC is now at a very strong level and it recovers back to 31000 after tasting 29,000$, really impressive,

[Pterosaur]

That depends on a person point of view,if for example one believes that in the long run the price of the coins will increase then those persons will disagree with your statement while many people who became afraid and turn off their rigs when price goes down then those will agree with you.Personally I am one of the persons who believe in a big recovery after such a massive crash of Bitcoin price.If the price of cards go down I get a couple more to increase my hashrate further.

I plan to do the same thing since I have witnessed the 2018-2019 bear market in mining. Even if there's never a big GPU coin again, the ROI seems to be 20-40% at 7¢/kWh for a farm with 500-1000 cards, which is still good.

I see crashes as a great opportunity to buy equipment at below-MSRP prices. I will make money no matter what direction the market goes in.

The higher the number of graphic cards you are running the higher your profits even in a bear market but the problem is the electricity to run all these graphic cards, do you have free electricity or you are ready to keep paying for electricity bill even if profit isn't that much? I respect you though not every one can do this.

[Coinfarm ventures]

The higher the number of graphic cards you are running the higher your profits even in a bear market but the problem is the electricity to run all these graphic cards, do you have free electricity or you are ready to keep paying for electricity bill even if profit isn't that much? I respect you though not every one can do this.

If the revenue from the equipment can't cover the power bill, I would shut off the equipment. I don't have free electricity, but it is quite cheap for GPU mining at 6-7 cents. I learned my lesson in the past: I should've kept mining at a larger scale during 2019-2020. The real problem is the rent for a small warehouse, which is $2000+/month. That comes out to 2-3¢/kWh. So my cost base would be the same as a home miner. At least I built special software for stratum switching which can boost revenue by 10%+.

[Outhue]

The higher the number of graphic cards you are running the higher your profits even in a bear market but the problem is the electricity to run all these graphic cards, do you have free electricity or you are ready to keep paying for electricity bill even if profit isn't that much? I respect you though not every one can do this.

If the revenue from the equipment can't cover the power bill, I would shut off the equipment. I don't have free electricity, but it is quite cheap for GPU mining at 6-7 cents. I learned my lesson in the past: I should've kept mining at a larger scale during 2019-2020. The real problem is the rent for a small warehouse, which is $2000+/month. That comes out to 2-3¢/kWh. So my cost base would be the same as a home miner. At least I built special software for stratum switching which can boost revenue by 10%+.

Why would anyone rent a warehouse for crypto mining? 2000$ per month you say? Where will that come from? The miners? That's a bad investment in this period of time, go big to have massive space available, use higher end GPUs and you can have a farm under your roof in your very home, 10 pieces of 3080S will give you a bit over 1GH, where many will have 25-30 GPUs to get same 1GH.