Looks like every 2nd-3rd thread on here are people doing nothing but complaining about ROI periods, hardware cost, electricity cost, etc.
Nice to see them turn off their rig and keep the difficulty down.
I know that this might not be nice but there are hundreds of threads about the risks in mining and it was discussed numerious times how difficulty works, dangers in price decline, inefficiency of older hardware, etc.
Yet people still invested thousands and now they are complaining and in fact we had the SLOWEST difficulty growth last month compared to anytime in 7-8 months.
At least most of your hardware holds value in the 2nd hand markets. If you bought some Antminers from a year ago they would be worth only 10% of actual retail cost.
Sorry that your investments didn't work out, but mining in general is VERY competitive.
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That's a different story if they like the process of mining and everything that it involves, as they will always find something to mine. I fall into this category and why I've invested and diversified my rigs for mining between AMD/Nvidia. I'm sure there will be times where I shut a few of them down when speculating on a new coin. Once ETH goes PoS, I'll mine some DMD if possible or another alt and auto-convert to NXT to increase my distribution of child chain tokens....
- Miners with deep pockets (or those with investors on board) that got in super early into the game. Those with the highest hashrate initially will end up ROI'ing first once a particular coin hits their high.
- Individuals who track their expenses very well and only purchase what is necessary at any given time. They will only risk a certain amount of capital and pay themselves first rather than reinvest for more rigs when the time isn't right. Your chances of profiting sooner can be aided with a bit of trading on the side, finding great deals on hardware, or even selling and repurchasing equipment throughout the mining lifecycle.
- People who have kept cards from previous mining booms, such as BTC and LTC era (which included Doge/Dark/etc.) Miners from a previous failed altcoin experiment are finally paying off debt by dusting off cards kept in storage and are now quietly screaming "Don't fucking do it!" at the newbies wanting to get in when it was already too late. Veterans keep telling newcomers not to start mining for a reason, but no one seems to appreciate the free advice given to them.
When it comes to financial wisdom, I consider the following: "you make money on the buy, not on the sell."I have no sympathy for people who come in here and start making new threads with the most rudimentary questions that can at many times be answered by reading a thread that is on the front page! That is just pure laziness. Then to come back and complain... I just laugh!
Anyway, I setup my 6 GPU rig purely for fun as I am always looking for a new project. I even swapped out 4 370s for 4 480s as soon as they were available... so my ROI was extended out drastically, at first. I say at first because I also invested in ETH (and some ETC...) when it was low and ROI'd awhile back, and then some. Everything from here on out is pure profit (minus electricity), and I'll ride this thing long all the way to the end!
Then... I'll sell the hardware, or move on to the next coin (if there is one). That is probably the most difficult decision I'll have to make because I can't decide if I enjoy this enough to deal with the upkeep of the rig, especially for 6 months...a year... more... haha.
Currently, in addition to ETH, I have investments in SIA and MAID, but I have A LOT of reading and catching up to do on that front as I know there are many other coins that have potential. FTC, for example. I got out of ETC... seemingly at the right time because every "pump" on that thing is getting smaller and smaller and I actually got sick of day trading on it pretty quick.
As far as the difficulty of ETH goes, it is the highest it has ever been. Sure, ETC caused a large dip for a bit there, but anyone with half a brain knew that wouldn't last. I think for now we will continue to see a slow climb in difficulty, at least until devcon and other good news hits and the price shoots up again. Then we should see a fairly large increase. Just a guess, btw.
If someone built a 6 card RX 480 for $1800 and expected an ROI at the current rise in difficulty 1 trillion per day. The ROI would be never.
Now it someone did the math they would realize based on a 1 trillion per day increase they have 10 months of mining left and the max ROI would be 50% per RX 480. That is a good deal.
That said, most discussions of this nature focus, or seem to focus on ETH as a short term investment, i.e. how long to ROI and then how much longer do I want to hold after that? I'm curious if anyone actually believes in ETH, its future and its potential...in other words not holding it for >12 months but longer term, with the hope/expectation that ETH will reach some of its lofty potential. I'm not saying that in a snarky way, I'm genuinely curious how much the community believes in this project's long term trajectory.
with the ddos attack slowing the network and the diff i dropped almost 25% payout over the past week
idk if i can really keep up, big farms are already gonna push out lil guys like me
wish i had more to invest in march, coulda been in a better position