I'm Broke! Plese help me:(

[figmentofmyass]

recouping your money through mining at this point is probably not going to happen. i suspect this has happened to a lot of miners and altcoin investors. sad times.

[cookiemonsterwhat]

you can probably sell it for a bit of profit on ebay, depending on what it is? 

[maxl]

Sorry for your loss!

I can´t give you a good advice. Most of the time the best stategy to get more fiat is to buy BTC and hold.

[Skrillex]

You need FIAT first to get BTC thats why adoption is stuck.

[aronnov]

Hi guys.
Sorry for English.
In past 9 month i invest about 100000$ in crypto.
I bought GPUs and ASICs about 40,000$. in this time my devices worth less than 15000$. and after bitcoin crash i lost my incomes.
Preorder scrypt asics for 20000$ which i don't know thats will deliver to me or just an scam.
And i tried trade the rest of my money in markets and i lost huge money.
In this time i have only 12btc and my rigs and a preorder device! my daily income from rigs is about 0.04 btc!!
Can someone give me rules and advice? i need my money back

i'sorry to hear that story, maybe this is become an experience, so if we will getting mining, we will be carefull

[Keyara]

Should not risk what you can not afford to lose. Most people here probably don't even have access to the amount of money you spent on miners.

[zhinkk]

I don't believe you invested $100,000 into mining equipment withotu doing adequate research on difficulty and coin prices. If you did, wow. Just wow. I am sorry for your loss.

[notlist3d]

...
I bought GPUs and ASICs about 40,000$. in this time my devices worth less than 15000$.
my daily income from rigs is about 0.04 btc!!

Can you go into what you "rigs" are its just hard to believe even if gear went down to 15k in today's market that it is only bringing .04 BTC per day.   Is it Scrypt, or BTC?

[cutesakura]

maybe next time you must be carefull if you want to mining
i am also a newbie in mining bitcoin, maybe this is a useful experince, if i want to mining BTC
hopefully ...

[Brewins]

Maybe you can try to cancel your rig's pre-order and explain the situation. If they are not scams think you have some chance.

About the rest, you can wait to see if we see the moon or at least some rise so you can seel for more, or wait. The 40mBTC you get by day are not bad, and might be a good extra income, if you don't spend more with power.

[boraf]

...
I bought GPUs and ASICs about 40,000$. in this time my devices worth less than 15000$.
my daily income from rigs is about 0.04 btc!!

Can you go into what you "rigs" are its just hard to believe even if gear went down to 15k in today's market that it is only bringing .04 BTC per day.   Is it Scrypt, or BTC?

He put GPU and ASIC on the same sentence, so he is probably mining alt coin.

And most alt coin miners lose a great deal of money.

[Mobius]

Maybe if you invested all that money directly in bitcoins instead of in mining equipment you would have earned some money,
don't do the same error in the future...

At one point miners were a good investment. Unfortunately this time has more or less passed as the cost to buy a miner per the amount a miner will mine is too high.  

[Kprawn]

Well put your hardware up for sale, and recoop some of your losses.

Then try to ask for advice first and invest in the right equipment, next time. We all take risks, and in most cases we fail, but we learn through those mistakes.

Begging for someone to bail you out, for mistakes, you have done, will not help your cause. But if there are no other way, try reddit, they seem to be more willing to help. 

[Hash Master]

Sorry for your loss, buddy.
But what is done is done. Forget about those money. It's not the end of the world. It's tough and it won't be easy to get out of the mess. Maybe the cryptocurrency industry is not your best choice. Thought of something different?

And yes, definitely try to get rid of the mining equipment. You won't get back all of your investment, but at least it's a start to help you get back on your feet again.

[Bitsaurus]

Sell the GPUs NOW!!!!   The next generation of cards from AMD is about to start rolling out and nVidia will start putting out the rest of their Maxwell lineup.  That will make the current power hungry cards worthless to miners.  Sell the cards now while gamers might actually buy them.

[shogdite]

That sucks dude, if I were you I'd sell your rig and cancel the preorder asap (assuming you can still get a refund). The sooner you do that, the sooner you'll be able to reinvest your money back into btc.

[InwardContour]

You should sell all your mining hardware as soon as possible and investing all the remaining money into bitcoins directly.
At the moment the price is low and probably if you hold your coins without trying to play the market you will be rich again in a year or two.

[dogjunior]

I don't believe you invested $100,000 into mining equipment withotu doing adequate research on difficulty and coin prices. If you did, wow. Just wow. I am sorry for your loss.

If he purchased pre order Hashfast rigs and Alpha Technology scrypt miners then I believe he has losses. Research on difficulty and coin prices will not tell you weather a company will scam you. My advice to all is not to purchase pre order. Only buy what is in stock. Seems like the Antminer S3 is what most people are ordering now.

[saddambitcoin]

You could continue mining Monero with your GPUs, check out http://monero.cc/

As for the ASICs, just keep them running and hope that eventually Bitcoin will rise to higher levels (it will).

[phillipsjk]

You appear to have gotten in right around the December peak.

I would advise you to sell any GPUs. Consider culling (or undervolting) less efficient ASICs as well.

I also agree with the advice to say no to pre-orders.

For Bitcoin, buying and holding tends to be more profitable than playing the market. I don't know how many more spectacular rises in price we will see though.