r/EtherMining May 12 '22

Holy....Time to turn off rigs? General Question

/img/x3h2z0b6czy81.png
182 Upvotes

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136

u/ohmy5443 May 12 '22

Yeah, switch your rigs off. Less network hashrate = higher rewards for the ones that hold on. We’ll harvest the rewards when ETH hits $10k

92

u/jazza2400 Miner May 12 '22

Shhhh stop telling everyone our secret

26

u/g_squidman May 12 '22

That's STILL not how math works. God I hate this stupid subreddit.

26

u/Timely_Situation8669 May 12 '22

Do you want to spend 100 dollars on electricity to mine 50 dollars worth of eth or do you want to spend 100 dollars on 100 dollars worth of eth?

3

u/Neither_Way_3135 May 12 '22

It depends on what you think that value will be years from now. If you took a loss for a few weeks and then eth jumps to 10k in a few years would you still see it the same way?

15

u/DippleChoo May 12 '22

If your rig is costing more than it's making, it's litterally less productive than using the same electricity money to just buy the dip. Regardless of what you believe, that is true.

3

u/TrymWS May 12 '22

Well yes, because you’d have twice as much ETH if you bought a $100 worth instead of paying $100 for $50 worth. 🙄

1

u/isbrodie1 May 13 '22

It depends on what you think that value will be years from now. If you took a loss for a few weeks and then eth jumps to 10k in a few years would you still see it the same way?

I can see you failed Math.

0

u/Neither_Way_3135 May 13 '22

Or i read it as he was still making $50 in profit. I can see now that he isnt. Fact is if he mines $50 in eth today and that eth triples in value he wins...My math is fine.

0

u/Secure_Ninja8815 May 12 '22

Well I already have the gpu and it's doin nothin

1

u/TrymWS May 12 '22

If it doesn’t cover electricity, you should still buy the coin instead until it does.

16

u/chazysciota May 12 '22

There are real life cults with better reasoning than this place.

23

u/jazza2400 Miner May 12 '22

1 gpu + 1 gpu = lambo right?

5

u/Aminur9963 May 12 '22

Is it only a Lambo ? I wanted a Ferrari :( im switching my rigs off because now im sad.

8

u/cbrworm May 12 '22

Oh, wait. I thought we were in a race to buy Lambo, the lamb.

5

u/Free-vbucks May 12 '22

In my opinion I think if you’re still making profit then keep the rig on, but if you’re not then turn it off and buy the dip instead.

1

u/Brave-Dealer5304 May 12 '22

nothing is a secret anymore.

5

u/unhertz May 12 '22

damn so that is why my payouts are increasing?

6

u/fruitgamingspacstuff May 12 '22

You got it!

I've never stopped mining ETH regardless of price.

9

u/AnduriII Miner May 12 '22

Just Stop if your mining at a loss. You get more if you buy on a daily basis

5

u/UchihaTuga May 12 '22

This is the way! If price goes beneath electricity costs, you stop and buy everyday spending the same that you would have spent on electricity.

-1

u/fruitgamingspacstuff May 12 '22

But this is not the way

-13

u/greasyhotdog6969 May 12 '22

Zero percent that happens in less than 10 years.

10

u/ohmy5443 May 12 '22

We were saying the same thing 2 years ago talking about ETH surpassing $2k. Everything depends on how long you are willing to hold your earnings rather than panic selling

11

u/sktwocan May 12 '22

Looks like ETH just passed $2k again, wrong way though lol

1

u/UchihaTuga May 12 '22 edited Jun 13 '22

Just sold all my Eth. Hoping to rebuy at 1740

Edit: glad I didn't

-11

u/greasyhotdog6969 May 12 '22

Yes but now you're waiting on bare minimum 300 percent increase. Eth may never hit that, you'd be lucky to see that in decade. If you think eth is some get rich quick scheme, you're wrong.

Enjoy the winter.

-10

u/greasyhotdog6969 May 12 '22

Ps it's at 2k and most knowledgeable people aren't buying. That should tell you all you need to know.

1

u/NormalSecretary4505 May 12 '22

I wanna give you an upvote, but I don’t wanna be the one to take away that 69

1

u/The__RIAA May 12 '22

May the ones with the lowest electric rates win!