Quote from: Marvell2 on September 06, 2018, 06:03:21 AM

Quote from: makemininggreatagain on September 06, 2018, 04:30:54 AM

1 Word. ok its not even a word.. HODL.

I feel the pain on the gpu (and asic) farming, we need to make mining great again.

A year ago people said dont buy GPU/ASIC, take the money and invest it in the coin instead. I didn't listen, I doubled down....

Well if you had followed that advice to take the same money instead of buying mining equipment, just buy coins at the prices a year ago --- you would of lost 60-70% of that investment. At least putting it into mining hardware, you have some coin, some experience (that will help in some way some day in a career, or side project), and you can keep running it in the 'red' and HODL. Don't bother trying to sell the gear on ebay - its like trying to sell your coin at the bottom, its just too late. Ride it out.

yeah , who would have thought we would see such a drop, the people who bought gpus at decent prices
i.e close to retail are the only ones who might survive by selling off gear.

everyone else is getting reckt.

good thing that comes out of this is if this lasts another year shitmain might go bankrupt , from what i hear they are quite overextended, put in too many orders for thier shity chips.

I think the reason why we are getting such a drop is because people are sitting at negative ROI and it leads to these sell pressures.

Basically if you ever frequent the ethereum reddit most people on there basically dump their ETH for USD as soon as they get a payout from the pool because they need to pay for their 1080Ti and their electricity.

In a panicky market such as today, there are less willing buyers but the same amount of miners which dump prematurely and cause these huge 25% declines.

Also there are people who bought all their GPUs on Newegg and bought $20K worth of equipment and are paying interest at 20% APR which is like $300 a month in interest which isn't even enough from their mining profits. The same happened in 2014.