Stupid or smartness

[S3300]

I just sold four pieces of my 1660s graphic cards that I bought in January of 2022 at 280$ and I originally bought this cards for 350$, is this a good selling point for these cards? Haha I did this because I want me some polka-dot and avalanche for a long term hold, this is just 2% of my entire mining farm.

[Coinfarm ventures]

I just sold four pieces of my 1660s graphic cards that I bought in January of 2022 at 280$ and I originally bought this cards for 350$, is this a good selling point for these cards? Haha I did this because I want me some polka-dot and avalanche for a long term hold, this is just 2% of my entire mining farm.

Absolutely. In fact, you should probably sell ALL of your video cards NOW, or at least as many as you have time for. Sell the AMD cards first, then the higher-end RTX cards. That's what I did. You will probably be able to build back later at half the price. Buy coins or hold fiat.

[Bitcoin_Arena]

Not a bad move to sell some graphics cards in order to diversify, but I think you bought Polkadot and Avalanche too early. This bear market has not seen the worst moments, and I believe there is more to come.

We are not sure if Polkadot and Avalenche will be the next Luna or Solana yet 
I would wait until we are deep into the bear market and see how projects survive through it before thinking of buying the promising coins.

[Z390]

Too early to buy coins right now  :oo I hope you haven't already? Change your money into USDC or DAI and wait for more months, we haven't even start going sideways I won't do anything until we are deep into a bear market for few months, buying now is too early.

[FP91G]

If now your video card gives 30 cents of profit per day, then you have made a very good deal. I can suggest that you spend part of the profit, because you can invest poorly and lose money, as I did in 2018.

[adaseb]

I think now is a good time to offload any GPUs at a decent price because we will see a huge supply hit the markets. With the money you get don’t buy any altcoins right now. Wait for market to bottom.

Only coins i would buy is maybe BTC ETH and BNB. The rest can easily do another 90%. Just because it seems cheap doesn’t mean it’s a good deal. It can drop another 90% and will never recover.

[swogerino]

I just sold four pieces of my 1660s graphic cards that I bought in January of 2022 at 280$ and I originally bought this cards for 350$, is this a good selling point for these cards? Haha I did this because I want me some polka-dot and avalanche for a long term hold, this is just 2% of my entire mining farm.

Since it is just 2% of your entire mining farm it is not stupid but either smartness,it is just normal I would say.If you can manage to sell cards at almost the same price you have bought then I would go ahead and sell them,there is the AMD new series on the edge together with the Rtx 4000 series and when these hit the markets we would see a huge supply of older video cards for sale,I think it is then time to stock up on them a bigger number than you already have now.

I know,it is a risky move but can bring huge profit but also huge risk,up to you what to do.

[FP91G]

I just sold four pieces of my 1660s graphic cards that I bought in January of 2022 at 280$ and I originally bought this cards for 350$, is this a good selling point for these cards? Haha I did this because I want me some polka-dot and avalanche for a long term hold, this is just 2% of my entire mining farm.

Since it is just 2% of your entire mining farm it is not stupid but either smartness,it is just normal I would say.If you can manage to sell cards at almost the same price you have bought then I would go ahead and sell them,there is the AMD new series on the edge together with the Rtx 4000 series and when these hit the markets we would see a huge supply of older video cards for sale,I think it is then time to stock up on them a bigger number than you already have now.

I know,it is a risky move but can bring huge profit but also huge risk,up to you what to do.

Remember the story with AMD 5000 series graphics cards. The developers of the miners had to spend several months for the hashrate of these video cards to become high. This situation can be with new AMD video cards. So I wouldn't be in a hurry to buy. A huge sale will begin after the completion of Ethereum mining. It is even more profitable to sell video cards now in order to buy the same or better at a lower price in 4 months.

[Widdop37]

The gtx 1660s can go as low as 150$ if the bear market gets tougher and I believe this is just the beginning of a huge price decline, just because BTC gets to 20k after 67k doesn't mean it has a bottom and bears are going back into their cages, nope, things will get unbearable and many graphic cards will flood the market.

[Coinfarm ventures]

things will get unbearable

I like what you did there. We might really be in a teddy bear market, not a grizzly bear market yet.

[Bitcoin_Arena]

things will get unbearable

I like what you did there. We might really be in a teddy bear market, not a grizzly bear market yet.

Such replies are the reason I keep cursing Lord Theymos (yes, am actually cursing the "Lord") for not adding emoji reactions alongside the merit button 

Time will tell if it's a teddy or a grizzly 

[swogerino]

things will get unbearable

I like what you did there. We might really be in a teddy bear market, not a grizzly bear market yet.

Such replies are the reason I keep cursing Lord Theymos (yes, am actually cursing the "Lord") for not adding emoji reactions alongside the merit button 

Time will tell if it's a teddy or a grizzly 

Time is already telling is a grizzly one,just give him sometime until he crashes the market even further.All the data,all the crisis in the world should of have at least a minimum of impact even in cryptocurrencies.That impact is not yet shown on the price but in July when as they say the crisis will go deeper with inflation at 8% on paper already but 33% on reality we will see this grizzly bear unleash his fury.

Of course I hope I am wrong in my prediction but chances are we are far from reaching the bottom of Bitcoin and cryptocurrency prices in general.

[philipma1957]

First off this is not a bear market for mining.

3070 130 watts 60 mh = about 96 cents earned pre power.  130 watts is under 4 kwatts say you have 10 cent power.  40 cents.  so 96-40 = 56 cents daily profit.

5 cent power 20 cents so 96-20 = 76 cents daily profit.

so while it is not good profit it is profit thus not bear.

btc

s17 on low is $3.50 earned   and 3.60 burned at ten cents

it is 3.50 - 3.60 is neg ten cents for ten cent power
and 3.50 - 1.80 = + $1.70 for five cent power

so btc mining has just touched bear.

lastly

L7 burns 85 kwatts or 8.50 at 10 cent power
and 4.25 at five cent power

it earns 17 a day so

17-8.50 = 8.50 at ten cent power
17- 4.25 = 12.75 at five cent power

so for 3070 eth mining not bear yet
for s17 a small bear a teddy maybe
for L7 LTC/Doge ot bear yet.

This means all of above should get worse.
 For miners.

AND for traders its bear.


My guess is eth bails into pos and the market tanks bigly. - this has a good chance

of eth bails into pos crashes and burns while pow asics whale - this happen with another coin it think this is what happens.

or ethe bails and whales killing pow coins- not in a million years.

[CryptoATM]

I am still holding on pretty well, a 30 MH still do 0.50$ per day and I am not one of those paying high feed for electricity so I will keep mining still, I have no gpu to sell anymore as my plan is to hold those GPUs for a better season in future, doing this I already feel like I have all the good coins I need to have.

[FP91G]

I am still holding on pretty well, a 30 MH still do 0.50$ per day and I am not one of those paying high feed for electricity so I will keep mining still, I have no gpu to sell anymore as my plan is to hold those GPUs for a better season in future, doing this I already feel like I have all the good coins I need to have.

To be more precise, the profit is approximately 41 cents. If you have free electricity, then I would not sell a video card either. You can even buy video cards at cheap prices to get the most out of your very cheap electricity.

[blue_hurricanger]

...

You're half right for GPU miners right that they weren't in the bear market for mining yet. But this is only for miners with high-end GPUs. The bottom one with low-end, outdated GPU like RX 580, they're really in the danger spot now since their GPU has very low efficiency. If ETH price drop lower, sure the high-end GPUs or ones with high efficiency can still weather out, but the low efficiency will be out of the mining game right away unless you got free electricity. OP's 1660s ain't have a good efficiency rate so him selling some of his cards and diversifying it to alts or fiat is still a smart move to me. Why take a risk, right?

[FP91G]

...

You're half right for GPU miners right that they weren't in the bear market for mining yet. But this is only for miners with high-end GPUs. The bottom one with low-end, outdated GPU like RX 580, they're really in the danger spot now since their GPU has very low efficiency. If ETH price drop lower, sure the high-end GPUs or ones with high efficiency can still weather out, but the low efficiency will be out of the mining game right away unless you got free electricity. OP's 1660s ain't have a good efficiency rate so him selling some of his cards and diversifying it to alts or fiat is still a smart move to me. Why take a risk, right?

Miners with RX 580 video cards and analogues are attaboys, because they have been mining Ethereum for a long time and paid for these video cards many times over. I have these graphics cards and I don't feel in danger. Even many miners will continue to mine at a loss for a while after ethereum mining ends because they had a good profit.

[Coinfarm ventures]

If you have free electricity, then I would not sell a video card either

Video card values have declined much faster than the profit they make at free power. Capital loss is the real risk here, not operating loss. That is why I have sold half my rigs in the hopes of buying them back cheaper later on.

so btc mining has just touched bear.

I guess you can call that a teddy bear market then :|

[FP91G]

If you have free electricity, then I would not sell a video card either

Video card values have declined much faster than the profit they make at free power. Capital loss is the real risk here, not operating loss. That is why I have sold half my rigs in the hopes of buying them back cheaper later on.

But a graphics card can't be worth $0 like a cryptocurrency. Even the RX 580 8 GB graphics card can play many modern games and its price will not fall below $100 if it is in good condition. Even if it is cheaper, then what price will the RX 550 2GB have? RX 560 4gb? RX 570 4gb?

[Coinfarm ventures]

But a graphics card can't be worth $0 like a cryptocurrency. Even the RX 580 8 GB graphics card can play many modern games and its price will not fall below $100 if it is in good condition. Even if it is cheaper, then what price will the RX 550 2GB have? RX 560 4gb? RX 570 4gb?

I agree with your general idea of GPUs having gaming value, but I don't think we are anywhere near the price floor for current-gen video cards. RTX 3060's are selling for $330 used today, but let's say they end up at $200 in 3 months if today's coin prices stay steady. That is a capital loss of $130 / 90 days = $1.44/day.

You will get $0.60/day of profit mining CFX at free power. That won't compensate for the $1.44 in capital loss. So the most profitable decision would be to sell that RTX 3060 today rather than take the -$0.84/day = $75 of loss over the next 3 months.

After I did the math, I came to the conclusion to sell *now* instead of riding the market down.