How bad can it get?

[Metroid]

Which fake USD will crash next?

USDN, USDD and FEI is looking weak

It's amazing how many fake stable usd scammers have created in this cycle. It's like if USDT was not enough scam already hehe, scammers had to go on and create more billion dollar fake scamcoins out of nowhere. The only usd stablecoin I believe is usdc and nothing else.

If you have a 4g rx 570/580 then is already at negative profit, a gtx 1070 is giving 10 cents at best, an rtx 3070 which is sold where I live for 800 usd yet is giving $0.60 cents per day, roi of 1351 days and that is using $0.10 per kwh and that electricity price is hard to find these days and this will get worse ehhe, You miners out there use the moment and sell as fast as possible your gpus before is too late, gpu prices are still good to sell.

https://whattomine.com/coins/151-eth-ethash?hr=60.0&p=130.0&fee=0.0&cost=0.1&cost_currency=USD&hcost=900&span_br=1h&span_d=24&commit=Calculate

ETH 1162 usd at lowest since january 2021 now and still going down, fasten your seatbelts trolls, this is going to hehell. I'm sure there will be a bulltrap here very soon, taking it very high and then crashing to hehell again.

[arielbit]

Prices of 2nd hand 3080's are starting to get better hehehe..hell 

[Metroid]

Prices of 2nd hand 3080's are starting to get better hehehe..hell  

"MicroStrategy’s Michael Saylor Wanted People to Mortgage Their Houses and “Buy Bitcoin,” but the Company Itself Is Now About To Face a Margin Call".

Look at this, https://wccftech.com/microstrategy-michael-saylor-wanted-people-to-mortgage-their-houses-and-buy-bitcoin-but-the-company-itself-is-now-about-to-face-a-margin-call/

"As we’ve noted a number of times in our posts, a typical bear market for Bitcoin sees its price crash around 80 percent relative to the preceding all-time high. It is for this reason that we expect Bitcoin to bottom somewhere between $15,000 and $20,000, provided that the trough coincides with a flush in the S&P 500 index towards the $3,400 price level. Given the existing correlation regime between US equities and Bitcoin, one can’t bottom without the other."

That Michael Saylor was always a scammer and a troll, anyway this is not bear market yet.

I guess those bitcoins he bought for 40k,50k,60k and 65k will have to sell them for 20k and lower hehe. That is how it works, they have not sold around 60k but trust me they will sell for 20k or lower hehe

Tron will soon be in trouble too https://www.coindesk.com/markets/2022/06/13/trons-stablecoin-peg-to-dollar-wobbles-justin-sun-swears-to-deploy-2b-to-prop-up/ , all scamcoins.

Celsius was another scam 7 usd last year and now 20 cents https://www.theverge.com/2022/6/13/23165611/bitcoin-ethereum-crypto-price-drop-celsius

Solana another scam, https://u.today/solana-downtime-series-continues-network-faces-serious-issues-again

Interesting things happen when bear market is upon us then you see the meaning behind scamcoins, most devs of those scamcoins are running away with the money forever hehe

[arielbit]

Prices of 2nd hand 3080's are starting to get better hehehe..hell  

"MicroStrategy’s Michael Saylor Wanted People to Mortgage Their Houses and “Buy Bitcoin,” but the Company Itself Is Now About To Face a Margin Call".

Look at this, https://wccftech.com/microstrategy-michael-saylor-wanted-people-to-mortgage-their-houses-and-buy-bitcoin-but-the-company-itself-is-now-about-to-face-a-margin-call/

"As we’ve noted a number of times in our posts, a typical bear market for Bitcoin sees its price crash around 80 percent relative to the preceding all-time high. It is for this reason that we expect Bitcoin to bottom somewhere between $15,000 and $20,000, provided that the trough coincides with a flush in the S&P 500 index towards the $3,400 price level. Given the existing correlation regime between US equities and Bitcoin, one can’t bottom without the other."

That Michael Saylor was always a scammer and a troll, anyway this is not bear market yet.

I guess those bitcoins he bought for 40k,50k,60k and 65k will have to sell them for 20k and lower hehe. That is how it works, they have not sold around 60k but trust me they will sell for 20k or lower hehe

Tron will soon be in trouble too https://www.coindesk.com/markets/2022/06/13/trons-stablecoin-peg-to-dollar-wobbles-justin-sun-swears-to-deploy-2b-to-prop-up/ , all scamcoins.

Celsius was another scam 7 usd last year and now 20 cents https://www.theverge.com/2022/6/13/23165611/bitcoin-ethereum-crypto-price-drop-celsius

Solana another scam, https://u.today/solana-downtime-series-continues-network-faces-serious-issues-again

Interesting things happen when bear market is upon us then you see the meaning behind scamcoins, most devs of those scamcoins are running away with the money forever hehe

Maybe i'll sell one real asset and buy, not now but only if saylor sold into oblivion/rage quit hehe. You don't want to be an exit liquidity for saylor.

[adaseb]

I had an order to buy some BTC back at the 200 WMA, I think it was something like $22222. First I assumed it was the bottom but it clearly is approaching $20K very fast.

With the way that ETH went straight thru it’s old ATH I have a feeling that Bitcoin might also. Seems there are no buyers at all. Crazy that it was over $30K just a few days ago.

Wonder what Wednesday will bring with the fed news.

[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.

Pretty much hurt, that's what's coming.  I mean profitability is going to just plummet, the choice is to sell or hold on for the next run because you won't be able to run your hardware at any kind of profit in a bear.  But when things turn everyone flocks back to hardware.  Happened in every run.  This should he no different.  But be forewarned you will be tested during this bear for sure.  Good luck

[5W-KILO]

I have any graphic cards that haven't made me 70% of my ROI but I don't worry myself, I used money that I don't need to build those mining rigs and I have money that I can use to buy coins on the way down, if you are like me you have nothing to worry about, bear market is a blessing.

[Metroid]

I had an order to buy some BTC back at the 200 WMA, I think it was something like $22222. First I assumed it was the bottom but it clearly is approaching $20K very fast.

With the way that ETH went straight thru it’s old ATH I have a feeling that Bitcoin might also. Seems there are no buyers at all. Crazy that it was over $30K just a few days ago.

Wonder what Wednesday will bring with the fed news.

20k is not the bottom yet, this is just starting, it might look like is the bottom, every bearrun crashes btc lower than the cost to mine 1 btc, so how much cost to mine 1 btc? in may 2021 cost 7k to 11k as per this website https://minerdaily.com/2021/how-much-does-it-cost-to-mine-a-bitcoin-update-may-2021/ at moment still around that, so expect bottom to be around that.

"In summary, it currently costs between $7,000-$11,000 USD to mine a bitcoin. "

[swogerino]

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.

Pretty much hurt, that's what's coming.  I mean profitability is going to just plummet, the choice is to sell or hold on for the next run because you won't be able to run your hardware at any kind of profit in a bear.  But when things turn everyone flocks back to hardware.  Happened in every run.  This should he no different.  But be forewarned you will be tested during this bear for sure.  Good luck

Difficulty is going down with 1 P from 15 P to 14 P in Ethereum mining and I can make more Ethereum daily then I used to 2 days ago.I expect another massive difficulty reduction and I expect that the people who will win are those who will hodl in the middle of the bear market.I agree that bear market is a blessing for miners who want to become long term hodlers.I mined at a loss at 2018 and made a good amount of Bitcoin which in 2021 more specifically in February turned to 50.000 USD/40.000 EUR so I will still mine at a loss and keep the coins for the next bull run which I predict will be no further than 1-2 years from now.

[Metroid]

Difficulty is going down with 1 P from 15 P to 14 P in Ethereum mining and I can make more Ethereum daily then I used to 2 days ago.I expect another massive difficulty reduction and I expect that the people who will win are those who will hodl in the middle of the bear market.I agree that bear market is a blessing for miners who want to become long term hodlers.I mined at a loss at 2018 and made a good amount of Bitcoin which in 2021 more specifically in February turned to 50.000 USD/40.000 EUR so I will still mine at a loss and keep the coins for the next bull run which I predict will be no further than 1-2 years from now.

Everyday people are turning off their gpus because it makes no sense to mine anymore till a balance is hit, as soon as a balance is hit then negative profit will stop and then for 60mhs you will make few cents, $0.10 per day per gpu, it stayed in negative profit for months in 2019 for 30mhs and 30mhs is like 60mhs this cycle around, so eth will have to crash a lot yet for that to happen, i mean below 500 usd.

We come back to what I have been saying every cycle, people get spoiled, eth got to almost 5k and trolls thought eth crash to 2000 usd would be impossible, look where it is at moment, almost at 1000 usd mark, if you said eth would crash below 1000 usd trolls would laugh and kill you at the spot, people are spoiled, they will never understand that this market is made of cycles because that is the only way the rich gets richer, if you dont sell the bags when the price is good then your loss, same thing is if you dont buy when the price is good your loss too, use both sides then you win in the end but need to be very careful because there are too many scamcoins, need to know what to buy. I know many trolls who did not listen to me when I said luna solana shina inu doge and many others are scams, look now, they lost big and some lost it all.

[moonboy30]

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.

 Ive heard from crypto OGs that was gone to even not enough to pay its electricity, for a few months.

[Pendrak]

This is paradise for miners

[Ketesnuko]

Looks like my prayers are already answered because I have been waiting for mining to become extremely unbearable for those who only want to make ROI, now hopefully we will see a huge reduction in mining difficulty.

[Metroid]

The best thing to do is let them overpay for btc, when btc was 40k and then 35k and then 30k and even at 26k I always said they were overpaying for it, they never listened, it will keep crashing and idiots trying to catch a falling knife, so let them, funny will be they buying for 22k and then seeing that 22k has become 10k and trust me, most that bought for 22k will sell for 10k or less hehe

https://cointelegraph.com/news/bitcoin-has-support-at-23k-but-analysts-warn-of-a-dire-drop-to-8k-as-global-debt-unwinds

"Bitcoin has support at $23K, but analysts warn of a dire drop to $8K as global debt unwinds". This will be like the 2020 march crash, btc crashed from 16k to all the way to 4k hehe

Truth is, people only learn through pain, so better to let them feel the pain ehhe

Most trolls have no idea how bad this will get till they see how insane a bear market crash bottom is. I have seen this many times since 2011, imagine seeing eth crashing from 900 to 80 usd in few days.

https://www.coindesk.com/business/2022/06/14/coinbase-will-layoff-around-1100-employees/

[Coinfarm ventures]

https://www.coindesk.com/business/2022/06/14/coinbase-will-layoff-around-1100-employees/

I applied to a job opening at Coinbase, so thank god I got rejected... ehheehee

Most trolls have no idea how bad this will get till they see how insane a bear market crash bottom is. I have seen this many times since 2011, imagine seeing eth crashing from 900 to 80 usd in few days

My prediction was wrong too. I predicted $27k was the bottom, but now the price is $22k. So I need to eat my hat. At least I profited by not following my own advice, since I didn't actually buy any coins.

[Metroid]

I lost count of how many trolls said to me last year this phrase "this time is going to be different" when I said history would repeat itself and the huge crash would come in 2022. History once again won in the end and dont you trolls think next time will be different, it is proven time and time since 2011 that the crypto market is a pyramid scheme as known as pump and dump, only difference here is that the value of some coins are not created from thin air like is in other pyramid schemes, 99.9% of coins here are scams and their value is indeed 0 but some coins are legit but even if some of them are legit that does not mean they cant die or be replaced, so watch out and never put your eggs in just one basket, diversify and don't be a sheep, sheeps are the ones that are slaughtered in the end or eaten alive by wolves.

I applied to a job opening at Coinbase, so thank god I got rejected... ehheehee

Thankgod it was rejected, a strong force saved you hehe

Anyway, btc is 18.5k at moment and it seems 10k is closer than ever. I wonder when catching the falling knife will not hurt me, maybe below 10k, 9600 usd will hit that cme gap that was probably never filled in 2020.

[xxcsu]

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.

I was here before 2018 and created a nice topic in 2017,  this topic really cant give you a right answer , no one can , but might worth to read it

HERE IS the original topic/post from 2017

And HERE you can find the "updated" version from 2021


2017

I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTIONS " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ? WHY MY EARNING IS LESS THAN ALL THOSE ONLINE CALCULATORS TELLING ME? WHAT IS THE BEST COIN TO MINE ? WHAT IS THE MOST PROFITABLE COIN TO MINE"

No one can tell you !
Always going to be a 2 group of ppl who telling you it's ok go for it , or don't bc you just wasting your money and time !
You have to make a decision for yourself !
Do your own research !
No one can tell you for sure what's going to happen with cryptocurrency !
No one can tell you it's going to be profitable for you or not !
No one can tell you how much profit you going to be able to make ! ( if you can make any at all )
No one can tell you the ROI ( return of investment) time !
No one can tell you what is the best coin to mine !
No one can tell you what is the most profitable coin to mine! Coins profitability always changing, what is best to mine today, maybe going to be the worst to mine tomorrow !
None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later !
Those calculators telling you about today , at that moment when you typing in your information !
None of those online calculators calculating pool luck !
None of those online calculators calculating your stale/rejected or invalid shares !
None of those online calculators able to predict difficulty growth !
None of those online calculators can predict what would be the coin/$ exchanges rates a minutes later, a hour later,  tomorrow, next week,  months later, 6 months later or a year later !
It's little bit of gambling , you must to decide you want to play on the lottery or not  
YES some of us got lucky , made some money with mining
YES some of us got unlucky , lost some money , bc when price started to fall , sold they coins , miners...

! INVEST ONLY WHAT YOU'RE WILLING AND ABLE TO LOSE !
! INVEST WITH THE UNDERSTANDING , THAT YOU COULD LOSE EVERYTHING !

2021

Posted this topic almost 3.5 years ago... There is the brand new, 2021 updated version

There is the Original Link for my topic from 2017 HERE

The same thing happening now what happened in (2016) 2017, ppl got crazy about mining, investing money into GPU's, ASIC's, hoping a big profit in a short time, GPU's, ASIC's price are crazy high, but really no one know what's coming in the future.

Lot of us know what happened in 2018, some of us was able to make a great profit with mining ( mostly those guys who started mining before crazy GPU prices ), and some of the unlucky ones come back to this forum and cried for they Money, said just bad things about mining ( mostly those guys who paid 3x, 4x, 5x price over a RX480/580 MSRP ( manufacturer's suggested retail price ).

Before you jumping into mining please do your own research, especially about ETH mining, check the roadmap for ETH development, make sure you know more than what mining calculators telling you. Learn about ETH2 , EIP 1559 , Mining Reward Reduction ... and if you are living in  the USA , make sure you know what this IRS letters are about : Letter 6163 , 6174 and 6174-A also ... Its a good thing to know about Tax Consequences
The big brother is watching you, and not just in the USA.

HAPPY MINING to all of you and good luck with your new adventure

Be Aware ! Scammers are Targeting You! Hackers are targeting You! You can be a victim of a phishing website !  Watch out !
Make sure You Buying gears from legit source ! Downloading program from legit source ! Make sure you have a hardware wallet !

Im sure we going to see a lot of "crying " ppl here as soon as Price going up , scammers , hackers getting into actions , and most of the victims going to be some of our community new members , our "Newbies"

Watch out for newbies who promising "save on dev fee" kind of miner programs hacks , and you just need to download a file to your computer , then run the .exe file ...
IF NO SOURCE CODE , NOT OPEN SOURCE PROJECT,  FORGET ABOPUT THOSE JUNKS
NEVER RUN ANY .EXE FILE ,OR IF YOU DO USE WIRESHARK OR SOMETHING SIMILLAR TO ANALYZE what your freshly installed junk doing on your network .

if you running something like this on a pc , where you keep important information about your wallet , don't be surprised if all of your hard mined coin going to disappear .
...or your valid shares decline , bc your miner going to mine for somebody else !

Coin price up its mean scammers targeting miners, especially newbies with a promise to save on dev fee .

Dont be fooled when newbie account holder creating a .exe file , promising you can save lets say on dev fee, and another newbie keep saying how perfect is that new .exe file, what another newbie just created !
Dont be fooled when the creator make his source code public, its can be totally fake , you need to Decompiling the code , and see whats in the .exe file ! or compile the file yourself from the source code , if you want to stay on the safe side !

I DONT UNDERSTAND WHY NEWBIES KEEP ASKING THE SAME QUESTIONS " ITS TO LATE TO START MINING , IT IS STILL PROFITABLE ? WHY MY EARNING IS LESS THAN ALL THOSE ONLINE CALCULATORS TELLING ME? WHAT IS THE BEST COIN TO MINE ? WHAT IS THE MOST PROFITABLE COIN TO MINE"

No one can tell you !
Always going to be a 2 group of ppl who telling you it's ok go for it , or don't bc you just wasting your money and time !
You have to make a decision for yourself !
Do your own research !
No one can tell you for sure what's going to happen with cryptocurrency !
No one can tell you it's going to be profitable for you or not !
No one can tell you how much profit you going to be able to make ! ( if you can make any at all )
No one can tell you the ROI ( return of investment) time !
No one can tell you what is the best coin to mine !
No one can tell you what is the most profitable coin to mine! Coins profitability always changing, what is best to mine today, maybe going to be the worst to mine tomorrow !
None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later !
Those calculators telling you about today , at that moment when you typing in your information !
None of those online calculators calculating pool luck !
None of those online calculators calculating your stale/rejected or invalid shares !
None of those online calculators able to predict difficulty growth !
None of those online calculators can predict what would be the coin/$ exchanges rates a minutes later, a hour later,  tomorrow, next week,  months later, 6 months later or a year later !
It's little bit of gambling , you must to decide you want to play on the lottery or not  
YES some of us got lucky , made some money with mining
YES some of us got unlucky , lost some money , bc when price started to fall , sold they coins , miners...

! INVEST ONLY WHAT YOU'RE WILLING AND ABLE TO LOSE !
! INVEST WITH THE UNDERSTANDING , THAT YOU COULD LOSE EVERYTHING !

[Coinfarm ventures]

Anyway, btc is 18.5k at moment and it seems 10k is closer than ever. I wonder when catching the falling knife will not hurt me, maybe below 10k, 9600 usd will hit that cme gap that was probably never filled in 2020.

I remember how other users mocked you when you suggested a $10k bottom. I didn't believe it as well. But so far, Metroid has been correct ehhe.

[Metroid]

Anyway, btc is 18.5k at moment and it seems 10k is closer than ever. I wonder when catching the falling knife will not hurt me, maybe below 10k, 9600 usd will hit that cme gap that was probably never filled in 2020.

I remember how other users mocked you when you suggested a $10k bottom. I didn't believe it as well. But so far, Metroid has been correct ehhe.

That is likely where this is going however it will take sometime for that, it takes time, there might be a bulltrap when btc hits 15k then goes up fast to 20k and then 25k then it crashes back to 15k and then 10k and lower as the true bottom, we'll see.

[philipma1957]

 Or you are over calling it and the 17.6k for btc was the bottom.

and eth just got a bit under 900.

The rise could start tomorrow and good times for months to come.

Place your bets people.

good luck to the glass is half empty people
good luck to the glass is half full people.

I think sideways is done for the next year or so.