Daily Mining Profits

undertaker2k8

[H]ard|Gawd
Joined
Jul 25, 2012
Messages
1,750
I keep it simple. I buy and hold. I don't trade crypto.
If I thought BTC was dying I wouldn't be selling my equipment to buy more BTC.

As to selling my Ampere cards -- I won't be selling them until the next Crypto boom, as they'll be worth more then, than they are now. Just like in 2020 when Crypto mining was unprofitable, Nvidia 1070 cards were selling for $200, but during this 2021 crypto boom they went back up to $400-$600 used.
My 3080 FHR card is probably worth $750 right now, but if I hold it till the next boom I can probably get $1000 or more, even if it's another year out, and not currrent top gen. So I should mine with it, until that point, and then sell it and begin to replace it with 4xxx series nvidia cards - since I think Crypto is going up in value - covering my current electricity costs now, and keep the cards - because they'll be worth more in the next boom. Double win. (my prediction)
Once ETH goes POS (and now it is inevitable in the next 3-4 months) there may not be a profitable coin for GPU mining for a long long time. BTC may still go up, but not sure of ETH and it's derivatives.
 

Archaea

[H]F Junkie
Joined
Oct 19, 2004
Messages
11,584
Once ETH goes POS (and now it is inevitable in the next 3-4 months) there may not be a profitable coin for GPU mining for a long long time. BTC may still go up, but not sure of ETH and it's derivatives.
It’s been inevitable multiple hard dates for the last 5 years +
 

LukeTbk

2[H]4U
Joined
Sep 10, 2020
Messages
2,345
Once ETH goes POS (and now it is inevitable in the next 3-4 months)
Is there a significant reason why now it is inevitable versus all the previous time ?

2020:
https://cointelegraph.com/news/eth-miners-will-have-little-choice-once-ethereum-20-launches-with-pos
2017:
https://www.coindesk.com/markets/2017/05/05/ethereums-big-switch-the-new-roadmap-to-proof-of-stake/

I am a complete know nothing at all here and could sound stupid, but seem to me that an healthy attitude by this point would be maybe it will never happen and certainly never have a short windows for which it is inevitable.
 

undertaker2k8

[H]ard|Gawd
Joined
Jul 25, 2012
Messages
1,750
History is a good indicator of the future till it isn't, anyhow profitability is so low currently and not getting better even if miners' dream of no POS somehow materializes that it doesn't matter. Also delays aside, it's counterintuitive to bet that the main thing eth developers are working on will never happen, just because it's bad for the mining community...
 
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funkydmunky

2[H]4U
Joined
Aug 28, 2008
Messages
3,109
Keep in mind fellows it doesn’t matter what BTC you are mining is worth now, it only matters what it’s worth when you sell it. As long as you are still accumulating it, and believe it will still higher long term than it is now, then keep mining.

Case in point. I stopped mining in 2020 because it wasn’t profitable, but BTC is worth 30K now which is quite a bit more than it was in 2020. In hindsight, all the mining through 2020 would have been profitable if selling now, and extremely more so if BTC hits 100K at the next big upswing, which I still very much expect.

https://coinmarketcap.com/currencies/bitcoin/historical-data/

You should only quit mining (from a historic perspective) if you believe BTC is now on a reverse trend for long term value and is dying.
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No you should ALWAYS quit mining when it costs more then your hydro if you are not supplementing your household heating. Otherwise you are throwing $$ away as you could just actually buy the coins without the loss. Electric/Hydro bill $500 for $400 in coin. Just buy the $500 in coin and be ahead.
 

Bigbacon

Fully [H]
Joined
Jul 12, 2007
Messages
20,097
yea I'm just about to shut mine off. My daily BTC profits are pretty much just above what I spend in electricity daily to run it...that and my electricity just went up 23%.

Not sure if I just keep it and wait or sell it all off and not worry about it. this is the lowest daily average i've seen since I started and its been low for about 4 days now.
 

thecold

[H]ard|Gawd
Joined
Nov 12, 2017
Messages
1,217
With summer coming, it's more likely the average person will lose money. With electricity price increases and summer heat, I wouldn't even think about mining.

While I have the land to put up solar panels, I do not have the capital, it's just going to be a nogo.
 

skiddy

2[H]4U
Joined
May 31, 2003
Messages
2,690
I shut mine off the other day. After electricity costs, I would have maybe been netting $2-3 a day, and that's before ETH dropped another $500. I think my mining run is over - grossed ~$8k over the past 15 months which isn't too shabby for not spending any extra money on GPU's or mining hardware.
 

applegrcoug

Limp Gawd
Joined
Aug 28, 2021
Messages
261
I shut off a rig of RX 580s today. It was in the black, but just barely....and before I factor in the AC runs harder. A month ago I shut down the 4gb rig. All I have running are 3000 series cards and a KD5. Not sure what is next to get shut down.
 

Gideon

2[H]4U
Joined
Apr 13, 2006
Messages
3,025
Seems the crypto market has cratered, unless it recovers I doubt mining with any video card will be profitable anymore.
 

Bigbacon

Fully [H]
Joined
Jul 12, 2007
Messages
20,097
I shut mine off the other day. After electricity costs, I would have maybe been netting $2-3 a day, and that's before ETH dropped another $500. I think my mining run is over - grossed ~$8k over the past 15 months which isn't too shabby for not spending any extra money on GPU's or mining hardware.

same here, I think I got a little over 8k in 16 months which was 8k more than I had when I started. Luckily most of my purchases were covered by mining and/or covered by me selling other stuff around the house I didn't need.
 

Verge

Supreme [H]ardness
Joined
May 27, 2001
Messages
7,416
Seems the crypto market has cratered, unless it recovers I doubt mining with any video card will be profitable anymore.
Whattomine says a 3090 gets almost a dollar per day, summer here though, so it doesn't really calculate electricity properly, as i have to spend more KWh to cool all the heat produced.
 

DPI

[H]F Junkie
Joined
Apr 20, 2013
Messages
12,196
Nicehash kids, casuals and late-bandwagoners getting the fuck off of ETH and shutting down = Net difficulty falling = yield is up = music to my ears.
 
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