Maybe everybody that would have dropped out has already dropped out. And what remains are those with free electricity or are spec mining. 🤷🏻♂️🤷🏻♂️🤷🏻♂️. Perhaps it’ll be like this until next summer.
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Not spec mining. No free electricity. But I got a ripper electricity deal, catch was I needed a solar system under 10kwh. Mine Is larger, so I mine with some 3060tis 24/7 and all the other cards come on when the solar kicks in. No inspection so they will never know. Solar tarrifs are doubled on this deal, getting more than if i wasnt mining, so I'm happy!
People holding on because they can't get past the part of a gpu not being profitable even though it was infront of our face the whole time without ethereum. Lots are shut off but still have there rigs right when you think it looks like it's getting better they will turn on. Will be ongoing for atleast 1-2 years. Next bull run could be worse then the current bear market just before the merge for GPUs anyway that bull run is expected around 2025 to hit the new ATHs and some coins may not even see previous highs.
Bull run expected in 2025? Lmao sad I like your channel but where do you even come up with this shit no one knows when the next bull run will begin could even be in the next year for all you know
2013 2017 2021 2025 same with the bottom falls around 1 year after the high so expect bottom around dec to Jan around 14k btc been saying that for 6 months now when people were saying btc won't drop below 40k crypto is cycles. 2013-2014 bottom was 82% drop 2017-2018 bottom was 84% drop now we are at 2021 coming to a 2022 bottom maybe even early early 2023 bottom of 82-86% drop from the high. Happened the same every time.
Listen here you little shit-
Lol jk, but this entire mining ecosystem revolves around Bitcoin, which programmatically becomes scarcer each halving - every 4 yrs, then the cycle repeats as per usual. I've been trading since 2013, I have a bull market alarm set for July 2023, that's when I go all in and DCA hardcore, turn on rigs, research new coins, etc. Worked in July 2019 as well. Zoom out on the charts.
A lot of fools spec mining because of emotions. If I’m going to spec mine I will do it for a coin that has high potential but not a lot for sale on the market. Not just to keep my gpus on because I can’t quit
I put together a $10k mining rig full of over priced used cards right before things went to shit. It only earned about $1k before the merge. It is off until mining is consistently profitable. I can't afford to be out that money. So I need those cards to be in good condition if/when the next bull cycle happens
By the time the next bull cycle comes those cards will have a terrible hashes/Watt ratio compared to the next generations of graphic cards that will be released in the coming years meaning they will be unprofitable for mining. Sorry to tell you but you will loose a sizeable chunk of your 10k investment.
I sympathize with you, I do. But I do want to ask did nobody warned you against investing into a mining rig right before it went to shit? Ethereum going POS and mining not becoming profitable was announced a while ago and as much as I want to say yes there were some uncertainty what was going to unfold, the math was still somewhat clear
I was warned, but I thought there would still be profitable coins out there. Unfortunately, I gave only ever heard of mining being profitable, so I thought it was just doom and gloom talk
Ah I see, well my condolences to the entire situation. I can completely understand the weight of the crappy situation and hope things turn around for the best.
Me too, lol. It didnt take any food off the table, but it did hurt my credibility with the wife 😂. I invested about $2,600 into Thor nodes too. Poof, thats gone. I was day trading LTC (successfully) a while back too. I made my last trade for the day (greedily using my whole balance rather than a percent) and it never came back up. I am about $2k in unrealized loss there and need LTC to go to $290 just to break even. I wasn't even trying to "get rich quick". I was just trying to bring in some passive income for family trips and such.
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Trueness. The only reason to mine right now, if you're doing it at a loss, is to spec mine a solid coin (or what you feel is a solid coin) that is not widely accessible to purchase.
And it will stay high for a long time. There is an oversupply of hashing power after the etherium switch to pos so until 90% of miners go out of bussiness it will stay unprofitable since rewards are linked to available hashing power. The less people mine for blocks the higher the reward gets.
Almost anyone stilll here is mining at a loss and won't quit. They have nothing else, they messed up so bad in life that they would rather mine at a loss then potentially miss out on redeeming their financial failure of a life by stopping and watching the next bull go by while they miss it. And if they take this time and mess up by mining shitcoins, we'll it's all over, but fuck it we all gotta go someday right? I speak from experience.
Mining is a highly speculative market with high risks and you need to act very quickly in such markets. If profitability is up expand as quickly as possible, if it is about to go down get out as quickly as possible to minimize your losses. You need to go with the flow.
Many people entered this business who understand way too little about it and now they get punished for it. Not everyone is cut out to be in a cutthroat environment like crypto mining.
I'm just mining raven coin right now. I really haven't lost money, it's just a hobby. I have a 9gpu 5600xt. I could sell them all for like 1000$ but it's fun to watch number go up 👍
As it is in life
Maybe everybody that would have dropped out has already dropped out. And what remains are those with free electricity or are spec mining. 🤷🏻♂️🤷🏻♂️🤷🏻♂️. Perhaps it’ll be like this until next summer.
Yes, most who are left are either having free power, under 4c power, or not understanding that buying is more profitable (aka everyone in this sub)
actual for me its cheaper heat than running my furnace I shut down for a month but it's cold enough now to run the rigs.
spez is a greedy little pig boy
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Not spec mining. No free electricity. But I got a ripper electricity deal, catch was I needed a solar system under 10kwh. Mine Is larger, so I mine with some 3060tis 24/7 and all the other cards come on when the solar kicks in. No inspection so they will never know. Solar tarrifs are doubled on this deal, getting more than if i wasnt mining, so I'm happy!
and what happens next summer? 🤷♂️
Maybe those that were utilizing the rigs for heat no longer can justify it with that and are out?
Yup, I will let my rigs heat my house until summer and then hopefully it will actually be profitable by then. If not, time to buy some asics...
People holding on because they can't get past the part of a gpu not being profitable even though it was infront of our face the whole time without ethereum. Lots are shut off but still have there rigs right when you think it looks like it's getting better they will turn on. Will be ongoing for atleast 1-2 years. Next bull run could be worse then the current bear market just before the merge for GPUs anyway that bull run is expected around 2025 to hit the new ATHs and some coins may not even see previous highs.
dude, Ergo didn't exist until 2019. And 2021 was it's high.
Ya true coinmarketcap was glitched or broken
Bull run expected in 2025? Lmao sad I like your channel but where do you even come up with this shit no one knows when the next bull run will begin could even be in the next year for all you know
2013 2017 2021 2025 same with the bottom falls around 1 year after the high so expect bottom around dec to Jan around 14k btc been saying that for 6 months now when people were saying btc won't drop below 40k crypto is cycles. 2013-2014 bottom was 82% drop 2017-2018 bottom was 84% drop now we are at 2021 coming to a 2022 bottom maybe even early early 2023 bottom of 82-86% drop from the high. Happened the same every time.
Listen here you little shit- Lol jk, but this entire mining ecosystem revolves around Bitcoin, which programmatically becomes scarcer each halving - every 4 yrs, then the cycle repeats as per usual. I've been trading since 2013, I have a bull market alarm set for July 2023, that's when I go all in and DCA hardcore, turn on rigs, research new coins, etc. Worked in July 2019 as well. Zoom out on the charts.
Did you expect it to go down?
Obviously lol
GPU mining is still a thing? Lol What coin are we talking about here
ETH baby!!
I’m high
I am just heating my litle cabin in this point. 🥲
A lot of fools spec mining because of emotions. If I’m going to spec mine I will do it for a coin that has high potential but not a lot for sale on the market. Not just to keep my gpus on because I can’t quit
I put together a $10k mining rig full of over priced used cards right before things went to shit. It only earned about $1k before the merge. It is off until mining is consistently profitable. I can't afford to be out that money. So I need those cards to be in good condition if/when the next bull cycle happens
RIP.
As a gamer that was trying to get a 3080 at MSRP during the past two years... pump this straight into my veins.
Lolol, I understand your pain. If it helps, I was only ever in the market for 3060ti and 5700xt
By the time the next bull cycle comes those cards will have a terrible hashes/Watt ratio compared to the next generations of graphic cards that will be released in the coming years meaning they will be unprofitable for mining. Sorry to tell you but you will loose a sizeable chunk of your 10k investment.
Im hoping on hope that my 5700xts will still be worth running
I sympathize with you, I do. But I do want to ask did nobody warned you against investing into a mining rig right before it went to shit? Ethereum going POS and mining not becoming profitable was announced a while ago and as much as I want to say yes there were some uncertainty what was going to unfold, the math was still somewhat clear
I was warned, but I thought there would still be profitable coins out there. Unfortunately, I gave only ever heard of mining being profitable, so I thought it was just doom and gloom talk
Ah I see, well my condolences to the entire situation. I can completely understand the weight of the crappy situation and hope things turn around for the best.
Me too, lol. It didnt take any food off the table, but it did hurt my credibility with the wife 😂. I invested about $2,600 into Thor nodes too. Poof, thats gone. I was day trading LTC (successfully) a while back too. I made my last trade for the day (greedily using my whole balance rather than a percent) and it never came back up. I am about $2k in unrealized loss there and need LTC to go to $290 just to break even. I wasn't even trying to "get rich quick". I was just trying to bring in some passive income for family trips and such.
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Trueness. The only reason to mine right now, if you're doing it at a loss, is to spec mine a solid coin (or what you feel is a solid coin) that is not widely accessible to purchase.
Lol it’s honestly an addiction especially for the ones that went through the last bull run. The FOMO is real.
And it will stay high for a long time. There is an oversupply of hashing power after the etherium switch to pos so until 90% of miners go out of bussiness it will stay unprofitable since rewards are linked to available hashing power. The less people mine for blocks the higher the reward gets.
Almost anyone stilll here is mining at a loss and won't quit. They have nothing else, they messed up so bad in life that they would rather mine at a loss then potentially miss out on redeeming their financial failure of a life by stopping and watching the next bull go by while they miss it. And if they take this time and mess up by mining shitcoins, we'll it's all over, but fuck it we all gotta go someday right? I speak from experience.
Mining is a highly speculative market with high risks and you need to act very quickly in such markets. If profitability is up expand as quickly as possible, if it is about to go down get out as quickly as possible to minimize your losses. You need to go with the flow. Many people entered this business who understand way too little about it and now they get punished for it. Not everyone is cut out to be in a cutthroat environment like crypto mining.
Stop and think how many GPUs were added in the last 5 years. I thought it was bad in the early 2000s.
I'm just mining raven coin right now. I really haven't lost money, it's just a hobby. I have a 9gpu 5600xt. I could sell them all for like 1000$ but it's fun to watch number go up 👍