Post
Topic
Board Mining (Altcoins)
Re: Advice to new crypto miners
by
Metroid
on 27/01/2022, 03:36:07 UTC
At the true bottom of the bear market, even if you got cheap or free power, most of you will not bother to mine at all.

In 2019 when ETH was $100, the rx580 made about $0.20 a day in profit with 10 cents electrical it made a total of $0.00 in profit.

So even if your power was 5 cents or free, most wouldn’t bother doing this to make a dime a day per GPU. If you really believed in crypto you would just buy it directly instead of mining it.

Even though they know we are saying the truth which we are, they always think this time is going to be different. They think bear market now will be like bull market hehe, everybody always buying crypto, demand always high, if you trolls think that then this is not the bear market, bear market has no demand, more sells than buys and for people to buy sometimes prices needs to crash a lot more for somebody to be interested to buy coins, so meaning bear market is buyers market and bull market is sellers market.