Why your Ethereum mining rig is now worthless

[Jamie McKane]

Why your Ethereum mining rig is now worthless

At one stage, it was considered a sane investment to buy six graphics cards, strap them to a bare-bones system, and run the machine at full speed 24 hours a day to mine virtual currency.

In early 2017, for example, you could make around R7,400 per month mining Ethereum with a six-GPU rig.

 

[lordnokon]

Ouch.... I feel sorry for everyone who invested money into this...

I am currently looking for a second hand Asus GeForce GTX 1080 Ti ROG-POSEIDON-GTX1080T for a client

 

[cyb3rt]

I'm in the lucky position to not pay for electricity where my rigs are running, so I'm all too happy to keep mining until all the cards burn out eventually. I have made my initial investment back 3 fold and also sold out in time to keep the gains

The next bull run will be biblical.

 

[LazyLion]

But we told you this was gonna happen....

 

[Sinbad]

The next bull run will be biblical.

IE, full of lies and disinformation and in fact a complete work of fiction?

 

[cyb3rt]

IE, full of lies and disinformation and in fact a complete work of fiction?

Whatever makes you sleep at night bud

 

[InfidelGastro]

Whatever makes you sleep at night bud

That won't be AMD or nVidia, but rather the hormone melatonin.

 

[bar1]

I was actually going to start a new thread about it...
So i am currently mining eth, and of course, losing money due to the currency dropping and my high electricity bill.

been wondering what the other miners are doing?

mining alt coins?
keep mining ?
or give up and sell the equipment.

 

[hj007]

I was actually going to start a new thread about it...
So i am currently mining eth, and of course, losing money due to the currency dropping and my high electricity bill.

been wondering what the other miners are doing?

mining alt coins?
keep mining ?
or give up and sell the equipment.

dumping them I guess, see

https://twitter.com/x/status/1064999403100999680

 

[d0b33]

I was actually going to start a new thread about it...
So i am currently mining eth, and of course, losing money due to the currency dropping and my high electricity bill.

been wondering what the other miners are doing?

mining alt coins?
keep mining ?
or give up and sell the equipment.

I built a gaming rig that doubles as a mining rig. Now it's solely a gaming rig. I knew I would not break even right away. Plan was to mine a little then hold.

 

[Swa]

Worthless? Still mining away. Going to make a killing when the price goes up.

That won't be AMD or nVidia, but rather the hormone melatonin.

Incorrect. Melatonin doesn't make you sleep or induce sleep.

 

[jetlee]

Worthless? Still mining away. Going to make a killing when the price goes up.


Incorrect. Melatonin doesn't make you sleep or induce sleep.

I dont understand this logic.. If your electricity cost is more that the currency cost, why not just buy the currency with the money you would be spending on electricity and get more ETH ?

I understand the "want to be part of the network" mantra .. but I dont see how it makes financial sense ?

 

[Swa]

I dont understand this logic.. If your electricity cost is more that the currency cost, why not just buy the currency with the money you would be spending on electricity and get more ETH ?

I understand the "want to be part of the network" mantra .. but I dont see how it makes financial sense ?

Because if I spend what I PAY for the electricity on crypto it would be exactly zero.

 

[InfidelGastro]

Worthless? Still mining away. Going to make a killing when the price goes up.


Incorrect. Melatonin doesn't make you sleep or induce sleep.

It's responsible for your circadian clock. Without a proper circadian rhythm, you can forget about getting a good night's sleep.

 

[lived666]

I was actually going to start a new thread about it...
So i am currently mining eth, and of course, losing money due to the currency dropping and my high electricity bill.

been wondering what the other miners are doing?

mining alt coins?
keep mining ?
or give up and sell the equipment.

Rent a shack in Soweto and move your mining rig there, I hear on this very forum that nobody pays for electricity there.

 

[saor]

IE, full of lies and disinformation and in fact a complete work of fiction?

As though profiting from such a run should require anyone to care what causes it?

 

[3WA]

I'm in the lucky position to not pay for electricity where my rigs are running

Because if I spend what I PAY for the electricity on crypto it would be exactly zero.

So who pays for your electricity? Or your rig is attached to a giant solar panel?

 

[Swa]

It's responsible for your circadian clock. Without a proper circadian rhythm, you can forget about getting a good night's sleep.

Meaning it doesn't make you sleep. Also the statement isn't 100% true.

 

[InfidelGastro]

Meaning it doesn't make you sleep. Also the statement isn't 100% true.

If you're interested in the absolute truth, then Google it. Mine is close enough.

 

[HeftyCrab]

Ouch.... I feel sorry for everyone who invested money into this...

I am currently looking for a second hand Asus GeForce GTX 1080 Ti ROG-POSEIDON-GTX1080T for a client

I know people who went all in on this. Running all they could on their property and families property as they couldnt get anough power. Crazy.