Post
Topic
Board Mining (Altcoins)
Re: if you live in the EU, watch your profit. I've already turned off my rigs.
by
Vann
on 18/03/2018, 17:49:10 UTC
There are different reasons for why people want to mine. If your only goal was to make X amount of profit per week/month to pay your bills and the rig, then yes, that has gotten much harder to do over the last couple of months. However even at 0.30 USD power, as of today it's still profitable to mine after power costs are included.  In fact the total marketcap of all coins is no different than it was just 4 months ago. So unless you believe there is fundamental change of paradigm that renders current blockcahin technology obsolete, then market corrections are nothing new. It's just a good time to sharpen the sword and reevaluate your positions.

If you believe, as many people invested in mining do, Crypto is the future, then you need to make sacrifices for safeguarding your future. As said the power cost of most rigs per day is equal or less than a single cup of Starbucks latte that many have no problems wasting money on every day on their drive to work. One thing for sure is if you keep mining with a rig you already have, you will keep accumulating Crypto regardless of the current price and that cup of coffee you waste money on daily has ZERO chance of bringing you any return in the future.