It doesn’t make economic sense to run your miner if its revenue is less than the electricity bill. Once it crosses that threshold you would be better off shutting the miner and buying whatever coin you were mining w/the money you were using to pay the electric bill.
3 Likes
Defiantly time to look at the solar ivestment to offset cost in the future.
1 Like
So if Russia does ban mining what will the affects be to garage miners?
1 Like
I want to mine and mine and pay the damn bill.
"You’re going to fly her apart. "
2 Likes
Well hash rate will drop for a bit, making the difficulty drop for a bit. So that does help garage miners. Even if only until the Russian miners relocate
1 Like
Like any market there’s volatility here, and in the case of Crypto there is an excessive amount of volatility. It’s best to look at the long term outlook of the space rather than the day to day or even month to month changes in the market. If you focus on the short term you’re likely to convince yourself to stop investing in this space all together. I can’t say this is either a bull or bear market. This is just par for the course as it has been for the last 10 years.
However we should consider that cryptocurrency is starting to gain some semblance of mainstream adoption. The more mainstream adoption the sector gets the more stable the market will become. Let’s also consider that once the market does level out the profit margins and expected gains will drop and the expected ROI is likely to fall in line with that of other sectors. Likely a 2-3 Year break even mark.
3 Likes
Ive been mining for just over a month, mining Litecoin with 2 Goldshell X5’s and I was surprised to see the same amount of miners mining on litecoinpool.org with the price dropping 27% in a week. How far would the price have to drop until less people are mining? Many thanks
I went from a $320 payout to a $250 payout in 6 hrs on my GPU mining ETH…. All the whales cashing out?
If you ponied up for a Mining Rig of any kind, you are not ever gonna stop mining with it. through the good or bad. You just hold the coin/token till it is good again.
1 Like
It will be interesting to see the miner prices after the new year if BTC is in the low 30s.
1 Like
I doubt they change much…
The price hasn’t changed much, but I’m hoping it does so it will be more affordable for us buyers to acquire these miners. All we can do is wait and see how these suppliers react to this current market
2 Likes
What bear market?
I didn’t notice…I’ll never shut my miners off I can cover the power bill.
2 Likes
I hope it starts to drop too. I am much closer to BTC than other coins, but with the hash rate/difficulty really high and the price of the coin dropping I would think we see the miners start dropping in price after the Chinese New Year.
The chip shortage seems to be easing somewhat. We are seeing miner availability increasing for previous generation models, and with new miners pushing hash rate and efficiency higher I would think other models will see a significant pullback in price.
A potential Russian ban on BTC mining could also play heavily in miner prices and difficulty depending on how this all plays out.