Post
Topic
Board Mining speculation
Re: Why am I still mining?
by
Quix
on 16/03/2014, 04:13:35 UTC
It's totally impossible to see the future. Right now you have to bet on Bitcoin increasing in value. Of course you could just buy the Bitcoins directly instead.

I find the current prices for the cost-effective mining units too high to stomach. I went into mining Litecoins last year using the GPUs I had been using for Bitcoin (and adding more). Because of the recent spike in AMD GPU prices I sold off almost all my cards at MORE than I paid for them (most of them were more than 12 months old). It was just more profitable to sell the cards.

Under current market conditions I think I'm done. There could be plenty more profit left in this, but I think there is a limit to what the market can bare long term. The price is going to crash and crash hard at some point and I don't want to be there holding the bag.