It is now that is decided who is going to win and who is not (mining)

[swogerino]

Right now everybody is talking about the massive crash of Bitcoin and Ethereum while most people are in panic mode.Well I have experienced first hand like many others in 2018 this situation and I continued to mine because then I only believed in the increase in price.Now it is again that I believe the increase in price but I also see now that for a 305 Mhsh rig the stats are staying really great,stable and most of all I am getting more shares because of the initial difficulty drop,not much but I think it will drop further in the Ethereum network.So I make now like 0.005-0.006 Ethereum daily while I used to make 0.0034-0.0038 and when I get the payment and exchange it in Bitcoin I am happy.

I think this decide winners and losers,everyone is free to decide at which part wanna be.

[1714991812]

1714991812

[1714991812]

1714991812

[rdluffy]

Which pool are you using?
I'm using Ethermine, and I didn't see any difference in results now

This is the difficult chart

[swogerino]

Which pool are you using?
I'm using Ethermine, and I didn't see any difference in results now

This is the difficult chart

I only use 2miners pool as this pool offers me the possibility to pay me directly in Bitcoin.At first during the morning/noon time of the day I was not seeing any change either but it has been at least 5 hours that now I am seeing a better performance,I don't know but the only thing that I think of is the fall of difficulty.Strange things also happened here at this pool as one guy hit a block by solo mining with just 60 Mhsh so I don't know how to explain it either except with the fall of difficulty.I see now also the difficulty up at 14.68 P but the performance strangely remains the same,I don't know how to explain it differently.It still shows 0.005 Eth last 24 hours reward.

[rdluffy]

I only use 2miners pool as this pool offers me the possibility to pay me directly in Bitcoin.At first during the morning/noon time of the day I was not seeing any change either but it has been at least 5 hours that now I am seeing a better performance,I don't know but the only thing that I think of is the fall of difficulty.Strange things also happened here at this pool as one guy hit a block by solo mining with just 60 Mhsh so I don't know how to explain it either except with the fall of difficulty.I see now also the difficulty up at 14.68 P but the performance strangely remains the same,I don't know how to explain it differently.It still shows 0.005 Eth last 24 hours reward.

Thanks
I've never used 2miners pool, I'll take a look
I once used nicehash to have my ETH converted to BTC, but I don't like nicehash anymore after that fight with Phoenix miner

Maybe it's a good time to mine ETH and accumulate BTC, here in Ethermine I'm mining with 326 Mhs but only getting 0.00410 ETH daily

[VRExpress]

If you have a stable electricity I think it's a good idea to solo mine with that 300+ MH you have, I am certain that mining difficulty will decrease at this point onward with the heavy reject that's been happening to crypto market in two days now... This is what I plan to do as well, peace.

[swogerino]

If you have a stable electricity I think it's a good idea to solo mine with that 300+ MH you have, I am certain that mining difficulty will decrease at this point onward with the heavy reject that's been happening to crypto market in two days now... This is what I plan to do as well, peace.

I am very happy with the amount I make daily now as the difficulty is from 15 P to 14.09 P a decent decline,the same for Ethereum Classic which is from 315 T to 282 T.I used to make 0.0076 Ethereum maximum in two days,in these last two I made 0.0089 and I am sure in the next two days I will make 0.01 which I consider great and the conversion in Bitcoin as I said is better and bigger.I don't want to try solo mining as it depends on luck so I don't want to lose a single day of mining in a pool with others as solo I may keep missing.

[FloppyPurpleGherkin]

300MH on ETH solo is lunacy, 30GH then maybe, 300GH definitely.

[mindrust]

Right now everybody is talking about the massive crash of Bitcoin and Ethereum while most people are in panic mode.Well I have experienced first hand like many others in 2018 this situation and I continued to mine because then I only believed in the increase in price.Now it is again that I believe the increase in price but I also see now that for a 305 Mhsh rig the stats are staying really great,stable and most of all I am getting more shares because of the initial difficulty drop,not much but I think it will drop further in the Ethereum network.So I make now like 0.005-0.006 Ethereum daily while I used to make 0.0034-0.0038 and when I get the payment and exchange it in Bitcoin I am happy.

I think this decide winners and losers,everyone is free to decide at which part wanna be.

You can continue to mine only if it makes sense to mine, do the coins you mine cover your electricity expenses? If not, then you are mining for a loss. It is more profitable to shut your rig down. If you have a small operation, you can take the loss forever but not everybody is mining at home with a small rig. Serious miners run warehouses. Those people will have no other choice than shutting them rigs down. In the end yes, this will pass too but why would you want to lose money till it does?

[Outhue]

I only use 2miners pool as this pool offers me the possibility to pay me directly in Bitcoin.At first during the morning/noon time of the day I was not seeing any change either but it has been at least 5 hours that now I am seeing a better performance,I don't know but the only thing that I think of is the fall of difficulty.Strange things also happened here at this pool as one guy hit a block by solo mining with just 60 Mhsh so I don't know how to explain it either except with the fall of difficulty.I see now also the difficulty up at 14.68 P but the performance strangely remains the same,I don't know how to explain it differently.It still shows 0.005 Eth last 24 hours reward.

Thanks
I've never used 2miners pool, I'll take a look
I once used nicehash to have my ETH converted to BTC, but I don't like nicehash anymore after that fight with Phoenix miner

Maybe it's a good time to mine ETH and accumulate BTC, here in Ethermine I'm mining with 326 Mhs but only getting 0.00410 ETH daily

I don't think that Nicehash was the only mining platform that get rid of Phoenix miner, it seems that Nicehash was right about Phoenix miner after all, look around you today how many mining fans are talking about Phoenix miner? None I guess so it seems Phoenix miner isn't pure.

[swogerino]

Right now everybody is talking about the massive crash of Bitcoin and Ethereum while most people are in panic mode.Well I have experienced first hand like many others in 2018 this situation and I continued to mine because then I only believed in the increase in price.Now it is again that I believe the increase in price but I also see now that for a 305 Mhsh rig the stats are staying really great,stable and most of all I am getting more shares because of the initial difficulty drop,not much but I think it will drop further in the Ethereum network.So I make now like 0.005-0.006 Ethereum daily while I used to make 0.0034-0.0038 and when I get the payment and exchange it in Bitcoin I am happy.

I think this decide winners and losers,everyone is free to decide at which part wanna be.

You can continue to mine only if it makes sense to mine, do the coins you mine cover your electricity expenses? If not, then you are mining for a loss. It is more profitable to shut your rig down. If you have a small operation, you can take the loss forever but not everybody is mining at home with a small rig. Serious miners run warehouses. Those people will have no other choice than shutting them rigs down. In the end yes, this will pass too but why would you want to lose money till it does?

I am running a small operation and I had small operation in 2018 too when I was mining at a loss.I am only talking at a personal level here and those in the same league as me a minimum of 300 Mhsh and maximum of 1.5Ghsh which I consider small miners.I can cover the electricity cost in fact right now I am paying electricity plus making 50 USD in profit with such low prices we have now in cryptocurrencies.Since I was really successful in 2018 where I mined like more than 0.65 Bitcoin I hope this bear market lasts at least as 2018 so I can collect and collect small amount of Bitcoins everyday and then when the new all time high booms I am ready to cash in.

[FP91G]

I only use 2miners pool as this pool offers me the possibility to pay me directly in Bitcoin.At first during the morning/noon time of the day I was not seeing any change either but it has been at least 5 hours that now I am seeing a better performance,I don't know but the only thing that I think of is the fall of difficulty.Strange things also happened here at this pool as one guy hit a block by solo mining with just 60 Mhsh so I don't know how to explain it either except with the fall of difficulty.I see now also the difficulty up at 14.68 P but the performance strangely remains the same,I don't know how to explain it differently.It still shows 0.005 Eth last 24 hours reward.

Thanks
I've never used 2miners pool, I'll take a look
I once used nicehash to have my ETH converted to BTC, but I don't like nicehash anymore after that fight with Phoenix miner

Maybe it's a good time to mine ETH and accumulate BTC, here in Ethermine I'm mining with 326 Mhs but only getting 0.00410 ETH daily

I don't think that Nicehash was the only mining platform that get rid of Phoenix miner, it seems that Nicehash was right about Phoenix miner after all, look around you today how many mining fans are talking about Phoenix miner? None I guess so it seems Phoenix miner isn't pure.

Phoenix miner is a very good mining software, I and I don't think that the developers did anything forbidden. There were a lot of phishing sites and inexperienced miners downloaded software with viruses. Phoenix miner had a drawback that this miner overestimated the real hashrate very little.

[rdluffy]

I am running a small operation and I had small operation in 2018 too when I was mining at a loss.I am only talking at a personal level here and those in the same league as me a minimum of 300 Mhsh and maximum of 1.5Ghsh which I consider small miners.I can cover the electricity cost in fact right now I am paying electricity plus making 50 USD in profit with such low prices we have now in cryptocurrencies.Since I was really successful in 2018 where I mined like more than 0.65 Bitcoin I hope this bear market lasts at least as 2018 so I can collect and collect small amount of Bitcoins everyday and then when the new all time high booms I am ready to cash in.

It's a valid strategy, since you don't have to buy coins directly on exchanges, you're paying electricity to buy Bitcoin indirectly.
There are some advantages doing this, privacy or tax advantages mostly, or even the hedge you have on your GPUs

Last crash in 2018 I had to stop all my GPUs and I sold everything, this time I'm still thinking what to do, I'm more prepared, I bought my cards early, already have my ROI and I'm holding some ETH.
I have options to sell everything and save the money to buy coins doing DCA
But I'm thinking to only sell 1 or 2 cards to have more cash and continue to mining with a small rig

[JayDDee]

I don't think that Nicehash was the only mining platform that get rid of Phoenix miner, it seems that Nicehash was right about Phoenix miner after all, look around you today how many mining fans are talking about Phoenix miner? None I guess so it seems Phoenix miner isn't pure.

Nonsense. Nicehash got phished, downloaded a fake blamed Phoenix.

[swogerino]

I am running a small operation and I had small operation in 2018 too when I was mining at a loss.I am only talking at a personal level here and those in the same league as me a minimum of 300 Mhsh and maximum of 1.5Ghsh which I consider small miners.I can cover the electricity cost in fact right now I am paying electricity plus making 50 USD in profit with such low prices we have now in cryptocurrencies.Since I was really successful in 2018 where I mined like more than 0.65 Bitcoin I hope this bear market lasts at least as 2018 so I can collect and collect small amount of Bitcoins everyday and then when the new all time high booms I am ready to cash in.

It's a valid strategy, since you don't have to buy coins directly on exchanges, you're paying electricity to buy Bitcoin indirectly.
There are some advantages doing this, privacy or tax advantages mostly, or even the hedge you have on your GPUs

Last crash in 2018 I had to stop all my GPUs and I sold everything, this time I'm still thinking what to do, I'm more prepared, I bought my cards early, already have my ROI and I'm holding some ETH.
I have options to sell everything and save the money to buy coins doing DCA
But I'm thinking to only sell 1 or 2 cards to have more cash and continue to mining with a small rig

You are in a very comfortable position right now and if I were at your place I would surely go with that last option,that last sentence of yours,sell only 1 or 2 cards and keep accumulating with a small rig,you are already in profit,just like I am with my big mining rig I built in 2021 so we can choose freely what to do.

However I would insist on keep mining with that small rig because in the long term we all know that new all time high of Bitcoin is simply inevitable,it may take sometime,the latest I am predicting could be 2027 but normally should be much sooner than that most likely 2023-2025.When that time comes it is time to cash in big time,that is what I define a winner.

[ANSEL_2.0]

Good advice sworgerino, the only thing that's at loss here is a dollar value, I believe that in a few more years this bear market will be over and the best way for miners to take good advantage of the bear market is mining through the season, we will soon get to the point where many miners will have no choice but to quit, this is where better opportunities will be made for miners.

[rdluffy]

You are in a very comfortable position right now and if I were at your place I would surely go with that last option,that last sentence of yours,sell only 1 or 2 cards and keep accumulating with a small rig,you are already in profit,just like I am with my big mining rig I built in 2021 so we can choose freely what to do.

However I would insist on keep mining with that small rig because in the long term we all know that new all time high of Bitcoin is simply inevitable,it may take sometime,the latest I am predicting could be 2027 but normally should be much sooner than that most likely 2023-2025.When that time comes it is time to cash in big time,that is what I define a winner.

In 2018 I didn't have a good plan, but now at least I made some strategy before to not ended with a bag of coins or withou cash

And I saw the hashrate chart today, take a look:



You're right, some people already turned off their rigs and the difficult is decreasing
The peak was 15,101.178 TH, and now is 13,958.129 TH

[Salamande]

Indeed... Im mining BTC with my GPUs (well you know, I mine ETH and am paid in BTC). Only things that counts for me is BTC. I don't care about what is going on, but right now I have more BTC/day vs a month ago.

[swogerino]

You are in a very comfortable position right now and if I were at your place I would surely go with that last option,that last sentence of yours,sell only 1 or 2 cards and keep accumulating with a small rig,you are already in profit,just like I am with my big mining rig I built in 2021 so we can choose freely what to do.

However I would insist on keep mining with that small rig because in the long term we all know that new all time high of Bitcoin is simply inevitable,it may take sometime,the latest I am predicting could be 2027 but normally should be much sooner than that most likely 2023-2025.When that time comes it is time to cash in big time,that is what I define a winner.

In 2018 I didn't have a good plan, but now at least I made some strategy before to not ended with a bag of coins or withou cash

And I saw the hashrate chart today, take a look:



You're right, some people already turned off their rigs and the difficult is decreasing
The peak was 15,101.178 TH, and now is 13,958.129 TH

Yeah I just checked it now and we are near 13 P at just 13.18 which I think is great and it is what we are predicting.This can only translate in better daily mining rewards for the miners who will stay online.The more it decreases the better,let's see what happens though as the price of Ethereum plus that of Bitcoin started to recover from the all time low of 2022 at 17.000 dollars for a Bitcoin hit yesterday night,now we are near 20.000 dollars for a Bitcoin and this may change the trend if the price of Bitcoin keeps increasing taking with him Ethereum and the other altcoins.

[bitquad]

Which pool are you using?
I'm using Ethermine, and I didn't see any difference in results now

This is the difficult chart

I have seen a slight uptick on Ethermine. Most of my rigs are off right now due to the warmer weather. But I do have two rigs mining and will keep an eye on the yield. If it goes up by much I might turn the other rigs on again. Hopefully the weather will cool down a bit. But we have some warm weather next week. Not going to run the rigs in warm weather and then have to blast AC to cool the house down. No thanks. The profitability is too low to suffer through that and pay the extra electrical costs.

[rdluffy]

Yeah I just checked it now and we are near 13 P at just 13.18 which I think is great and it is what we are predicting.This can only translate in better daily mining rewards for the miners who will stay online.The more it decreases the better,let's see what happens though as the price of Ethereum plus that of Bitcoin started to recover from the all time low of 2022 at 17.000 dollars for a Bitcoin hit yesterday night,now we are near 20.000 dollars for a Bitcoin and this may change the trend if the price of Bitcoin keeps increasing taking with him Ethereum and the other altcoins.

Almost 13, we are at 13.3 right now, I don't expect a huge hashrate drop yet because there's a rush to mine until ETH goes POS, so this have to be taken, there are companies and big miners who will mine until the end (and beyond hahaha)

I have seen a slight uptick on Ethermine. Most of my rigs are off right now due to the warmer weather. But I do have two rigs mining and will keep an eye on the yield. If it goes up by much I might turn the other rigs on again. Hopefully the weather will cool down a bit. But we have some warm weather next week. Not going to run the rigs in warm weather and then have to blast AC to cool the house down. No thanks. The profitability is too low to suffer through that and pay the extra electrical costs.

If price of ETH rises a bit, hashrate will continue to increase because small miners will turn their rigs again, in my opinion, it's just small miners turning off their miners or just waiting to see the direction of the market, if they mine again or sell GPUs


There's an extra info to consider, some people are considering ETH to not go POS this year again, you can see thread here: https://bitcointalk.org/index.php?topic=5402672.0