How bad can it get?

[wheelz1200]

Down the road into a bear market what can a new miner except from a 500MH mining farm? How incredibly bad can this get? 5$? 8$? Asking those who are here before in 2018 so I can know what's awaiting me.

Lol if you are asking if crypto can straight slap ypu in the face it can ha!  Seriously there is no telling how bad prices and/or profitability of mining will get.  In 2015 it was straight brutal but those who stuck it out got paid nicely, same with other cycles.  Will this one be the same...maybe?  Honest answer is don't expect profits and just be gladly surprised if you do profit.  Have fun with it and be part of history.  Who knows..

[philipma1957]

Down the road into a bear market what can a new miner except from a 500MH mining farm? How incredibly bad can this get? 5$? 8$? Asking those who are here before in 2018 so I can know what's awaiting me.

Lol if you are asking if crypto can straight slap ypu in the face it can ha!  Seriously there is no telling how bad prices and/or profitability of mining will get.  In 2015 it was straight brutal but those who stuck it out got paid nicely, same with other cycles.  Will this one be the same...maybe?  Honest answer is don't expect profits and just be gladly surprised if you do profit.  Have fun with it and be part of history.  Who knows..

Yeah I did okay and not okay and okay and not okay. Can't be sure what is next.

[adaseb]

I remember in 2015 being so bored with mining that I decided to mod all my Bitcoin ASICs at the time. Back then there was little profit in GPUs most people just mined BTC with ASICs.

I had Antminer S3 that I made very quiet, enough to keep in an office.
A loud Antminer S4 where I modded the voltage and made it as efficient as an Antminer S5.
An S5 which I spend probably $50 on some very expensive (forgot the brand) high flow/quiet case fans to make it bareable to sleep in the same room.

Another s5 where I took an actual car muffler and tried to make it quiet. It was quieter however was just too bulky.

Those were the fun days.

[Metroid]

It was just reported today that Elon Musk sold 75% of his btc, I guess he knows something we don't ehhe

[marcotheminer]

It was just reported today that Elon Musk sold 75% of his btc, I guess he knows something we don't ehhe

Or perhaps couldn’t have the position remain at loss. I heard something about the balance sheet too. Tesla did take a nice loss from that though..

I remember in 2015 being so bored with mining that I decided to mod all my Bitcoin ASICs at the time. Back then there was little profit in GPUs most people just mined BTC with ASICs.

I had Antminer S3 that I made very quiet, enough to keep in an office.
A loud Antminer S4 where I modded the voltage and made it as efficient as an Antminer S5.
An S5 which I spend probably $50 on some very expensive (forgot the brand) high flow/quiet case fans to make it bareable to sleep in the same room.

Another s5 where I took an actual car muffler and tried to make it quiet. It was quieter however was just too bulky.

Those were the fun days.

[adaseb]

It was just reported today that Elon Musk sold 75% of his btc, I guess he knows something we don't ehhe

Who knows? Maybe he hired people to do an investigation after the Luna collapse. And his advisors told him to sell because due Luna and UST going to 0 pretty much it'll set off a huge liquidation cascade which is pretty much what happened afterwards.

He did state that he might rebuy in the future and he also didn't sell his entire position so he might not be out of crypto completely. Or is was a decision by his board that he needs to protect Tesla's cash incase there is a big recession coming up.

[swogerino]

It was just reported today that Elon Musk sold 75% of his btc, I guess he knows something we don't ehhe

Who knows? Maybe he hired people to do an investigation after the Luna collapse. And his advisors told him to sell because due Luna and UST going to 0 pretty much it'll set off a huge liquidation cascade which is pretty much what happened afterwards.

He did state that he might rebuy in the future and he also didn't sell his entire position so he might not be out of crypto completely. Or is was a decision by his board that he needs to protect Tesla's cash incase there is a big recession coming up.

No one knows something that others don't especially in the Bitcoin price which cannot be manipulated that easy as someone can EUR or USD money.That is one of the strongest points of Bitcoin as the new form of money,having decentralization as its key point.I don't think we care much what Elon Musk does or does not since that eventful May 2021 which he caused a massive crash to Bitcoin because everyone was amazed as to what he was doing with Bitcoin and how he was embracing it before such a turn off event.For the moment the price of Bitcoin and Ethereum are still holding where they were even with such 75% of Musk sale of Bitcoin so I don't think we should worry that much.

[Metroid]

No one knows something that others don't especially in the Bitcoin price which cannot be manipulated that easy as someone can EUR or USD money.That is one of the strongest points of Bitcoin as the new form of money,having decentralization as its key point.I don't think we care much what Elon Musk does or does not since that eventful May 2021 which he caused a massive crash to Bitcoin because everyone was amazed as to what he was doing with Bitcoin and how he was embracing it before such a turn off event.For the moment the price of Bitcoin and Ethereum are still holding where they were even with such 75% of Musk sale of Bitcoin so I don't think we should worry that much.

This means that people with a lot of money are very careful, how many times I heard sheeps and trolls saying the rich never sells any, they keep the coins, so it means that, people who hoards like saylor and others even sakamoto himself will sell when their price target is met, need to be very careful in the wild west.