Tell me your plan

[Pendrak]

In 2015, one AMD Radeon R9 280 video card gave about 6 Ethereum coins per day. Even if I were to sell coins now, it would be millions of dollars. But then no one understood the value of these coins and miners sold them for a few tens of cents or less.

Mid 2017 a R9 280 make 0.2 eth per month...

[5W-KILO]

When shelves were empty, the crypto mining went bust very quickly. By spring there was no profits to be made pretty much. The shortages were maybe 2-3 months long.

That was definitely a quick gold rush. I remember buying an R9 270 card for 40-50% above MSRP. I wish I kept mining during that bear market... at the time, I never thought the 2000 DOGE I got every hour would be worth $2000 someday. The coins I mined would be worth $3.6m if I sold them for half the ATH.

What the heck? That's a very sad story, you need to get rid of this from your mind and move on, that's a tough lesson indeed, if this happened to me I won't feel good at all unless a machine from the future wiped that part of the memory off my head.

[Coinfarm ventures]

What the heck? That's a very sad story, you need to get rid of this from your mind and move on, that's a tough lesson indeed, if this happened to me I won't feel good at all unless a machine from the future wiped that part of the memory off my head.

I have moved on from that story because nobody could have predicted that a shibe meme coin was going to be worth so much 7 years later.

[FP91G]

In 2015, one AMD Radeon R9 280 video card gave about 6 Ethereum coins per day. Even if I were to sell coins now, it would be millions of dollars. But then no one understood the value of these coins and miners sold them for a few tens of cents or less.

This is why the get-rich-quick 'miner bro' types who just install Nicehash on Windows then immediately sell their coins for fiat $ will lose in the long run. Mining is supposed to be a long-term venture where miners have confidence in the coin and HODL the coin because it's cheaper to mine them than to buy them. It took until 2019 for me to learn that lesson.

I remember why then the miners sold their coins. Nobody believed in the growth of the cryptocurrency price and at any moment you could lose a good profit. I sold ethereum and bought video cards. Banks did not block debit cards, after the exchange I immediately bought components for the mining farm.

[Coinfarm ventures]

I remember why then the miners sold their coins. Nobody believed in the growth of the cryptocurrency price and at any moment you could lose a good profit. I sold ethereum and bought video cards. Banks did not block debit cards, after the exchange I immediately bought components for the mining farm.

When I started to mine LTC/DOGE I was too young to have a bank account or credit card... so I bought Newegg gift cards with BTC then used the gift cards to order PC components, LOL.

The reason miners have never gotten as rich as the buy & HODL folks is because miners are motivated by short-term profit and 'ROI'. However, times are changing. Now that we've had 2 gold rushes and crypto got to the trillion mark, more miners are saving their coins.

RIOT/Whinstone, the biggest miner in the world, might have suffered after the Bitcoins they owned dropped in value, but I think they will be really successful in the long run because they believe in BTC.

[adaseb]

In 2015, one AMD Radeon R9 280 video card gave about 6 Ethereum coins per day. Even if I were to sell coins now, it would be millions of dollars. But then no one understood the value of these coins and miners sold them for a few tens of cents or less.

Mid 2017 a R9 280 make 0.2 eth per month...

Yeah the r9 280x was a killer GPU for Ethereum. I remember back in late 2015 and early 2016, you basically made 1 ETH per 280x per day. Keep in mind ETH was like $1-5 or so back then.

However difficulty was low, DAG was low, nobody was mining it because crypto seemed dead at the time. Those who believed in it made it out big.

Especially if they also kept their ETC which happened after the DAO hack. ETC also had some great runs in price.

[S3300]

In 2015, one AMD Radeon R9 280 video card gave about 6 Ethereum coins per day. Even if I were to sell coins now, it would be millions of dollars. But then no one understood the value of these coins and miners sold them for a few tens of cents or less.

Mid 2017 a R9 280 make 0.2 eth per month...

Yeah the r9 280x was a killer GPU for Ethereum. I remember back in late 2015 and early 2016, you basically made 1 ETH per 280x per day. Keep in mind ETH was like $1-5 or so back then.

However difficulty was low, DAG was low, nobody was mining it because crypto seemed dead at the time. Those who believed in it made it out big.

Especially if they also kept their ETC which happened after the DAO hack. ETC also had some great runs in price.

Maybe one day Ergo and Flux will be big someday and we will look back and say Ergo was once 2$ and Flux was once 0.54$ where you can mine one coin per day with a GTX 1660Super, nobody knows.

[swogerino]

In 2015, one AMD Radeon R9 280 video card gave about 6 Ethereum coins per day. Even if I were to sell coins now, it would be millions of dollars. But then no one understood the value of these coins and miners sold them for a few tens of cents or less.

Mid 2017 a R9 280 make 0.2 eth per month...

Yeah the r9 280x was a killer GPU for Ethereum. I remember back in late 2015 and early 2016, you basically made 1 ETH per 280x per day. Keep in mind ETH was like $1-5 or so back then.

However difficulty was low, DAG was low, nobody was mining it because crypto seemed dead at the time. Those who believed in it made it out big.

Especially if they also kept their ETC which happened after the DAO hack. ETC also had some great runs in price.

I was pleasantly surprised exactly if I remember correctly one year ago or a bit more when ETC hit its all time high of 179 USD I had some 12-13 of them and I enjoyed very much selling them at that time making a really nice profit.Unfortunately for the ETH I started mining in late 2016 early 2017 where everybody or almost everybody had moved to Ethereum mining.I still keep some ETC now because who knows what the next bull run makes,why not a 1790 USD for a ETC coin,we never know what the future reserves to us.Back when mining ETH I used Nicehash then so I missed out on ETH at that time however because I kept Bitcoin I made a huge profit in February 2021 where I exchange most of it.

[arielbit]

In 2015, one AMD Radeon R9 280 video card gave about 6 Ethereum coins per day. Even if I were to sell coins now, it would be millions of dollars. But then no one understood the value of these coins and miners sold them for a few tens of cents or less.

Mid 2017 a R9 280 make 0.2 eth per month...

Yeah the r9 280x was a killer GPU for Ethereum. I remember back in late 2015 and early 2016, you basically made 1 ETH per 280x per day. Keep in mind ETH was like $1-5 or so back then.

However difficulty was low, DAG was low, nobody was mining it because crypto seemed dead at the time. Those who believed in it made it out big.

Especially if they also kept their ETC which happened after the DAO hack. ETC also had some great runs in price.

I was pleasantly surprised exactly if I remember correctly one year ago or a bit more when ETC hit its all time high of 179 USD I had some 12-13 of them and I enjoyed very much selling them at that time making a really nice profit.Unfortunately for the ETH I started mining in late 2016 early 2017 where everybody or almost everybody had moved to Ethereum mining.I still keep some ETC now because who knows what the next bull run makes,why not a 1790 USD for a ETC coin,we never know what the future reserves to us.Back when mining ETH I used Nicehash then so I missed out on ETH at that time however because I kept Bitcoin I made a huge profit in February 2021 where I exchange most of it.

another fun thing back in the days, when i go shopping for new and second hand gpus, there is a sense that i'm the only one crypto mining, a few people maybe but you can't feel it around(only suspicion), there is no discussion around, there is also a sense that there might be something wrong with me(nobody understands, nobody cares about crypto)-yep, partly embarrassing because it looks like you are wasting your time on some useless shit turning you as a person into a useless shit too(so being early is no easy thing  )---plugging on the internet held my crypto sanity hehe

[adaseb]

Yes back in 2014 and 2017, when you were selling GPUs you most likely were selling them to gamers. This cycle, almost every GPU i've sold was sold to a miner, even locally. Back then mining was big but not as huge as 2021.

This cycle also had the craziest mark ups for GPUs i've ever seen, and with the highest ROI days ive seen. Back in 2014 you could of bought a GPU for $100 and you would basically ROI it in about 60-90 days. It was a much safer investment back then.

[Coinfarm ventures]

This cycle also had the craziest mark ups for GPUs i've ever seen, and with the highest ROI days ive seen. Back in 2014 you could of bought a GPU for $100 and you would basically ROI it in about 60-90 days. It was a much safer investment back then.

I concur. I used to make $8/day of revenue on a piddly $190 Radeon HD 7850 video card on LTC/DOGE. Little did I know it would be $1500/day if I HODL'd just half the coins

[cryptosize]

Just wait for the next cycle (2025), mining craze will be 10 times more insane...