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mining w/ almost 60ghs and just $20 or less? NiceHash

Discussion in 'Mining Pools' started by gabakusa, Nov 7, 2017.

  1. gabakusa

    gabakusa New Member

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    hi guys
    I bought 3 powerful antminers
    one is the ibelink 22ghs
    2 antminers d3 about 19ghs each
    and I m getting just $20 daily lately, should I change pool? or the difficulty is so hight that I cant make almost any money?
    thank you in advance

    Status Worker name Algorithm Speed Uptime Location Check every
    1
    ACTIVE
    D3 X11 20941.64 MH/s 340 min USA
    2
    ACTIVE
    ibelink X11 21759.67 MH/s 340 min USA
    3
    ACTIVE
    mariano X11 22585.42 MH/s 340 min USA
     
  2. kelvin

    kelvin New Member

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    Changing pools isn't likely to improve things all that much. You could have had better returns mining Dash instead of getting BTC for your hashpower since Dash has had better recent performance than BTC assuming you hold your crypto instead of selling it right away.

    I'm not sure things will get much better since Bitmain and others still have outstanding orders for X11 miners through December so it remains to be seen how bad returns will really get after December. Since Dash prices are now at or near all-time highs you might be better off sticking with Nicehash and hope BTC comes back to the mid-$7ks or trade BTC for some other ALT that has better appreciation potential. If Dash transaction volume is growing organically (i.e. there is some credible news to validate the increase and not just some pump and dump action or price manipulation within the community) then it might make sense to stick with mining DASH directly but given the current prices if you're not hedged by mining other Alts or BTC then you might be safer sticking with Nicehash and getting BTC which can then be diversified more readily then DASH (unless you use Shapeshift).

    In general I find a lot of DASH enthusiasts to be pump and dumpers or not the best members of their community to be representing the interests of this community in a public forum so I would be wary of the very sudden and dramatic price increase in just the same way Bitcoin Cash seems likely to be experiencing price manipulation with their recent dramatic price movements.
     
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  3. gabakusa

    gabakusa New Member

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    thank you for your answer, I could hold dash but I need to cash out at least some of the earning to pay the electricity ;-)
    so basically you are saying thing may get worse and these units that I have are going to be useless in few months.right?
    so better get rid of them meanwhile I can and get some s9 ir L3
     
  4. kelvin

    kelvin New Member

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    I wouldn’t necessarily say these miners will be useless because if production get suspended due to the network being over saturated (ie no demand) then there will be a window where transaction volume can catch up so if you believe in Dash then things might stabilize and create better returns in a few months and worst case a few years as prices increase. This is why it’s valuable to be diversified and not just mining one coin or at least running some GPU miners where difficulty can’t increase quite like it has for Dash where there’s been a combination of relatively low transaction volume and a massive increase in network rate.

    I would say if you can take less than a $500 depreciation on what you paid for the miner then sell it but any more than that and it will depend on your electricity costs. If your electricity costs are low (< $0.07/kwh) then I would just keep running it and hope the network rate stabilizes soon and future DASH price increases retroactively increase your returns. Perhaps a new X11 coin will emerge to give these a boost. With a lot of people taking their miners offline or trying to sell you can expect resale prices to be poor in most places so you might as well hang on to your Dash with some expectations that prices will pop up higher in the next few years. I can see D3s being profitable in places with cheap electricity and I don't anticipate Bitmain, Pinidea, or Inno releasing that much more hardware unless they've overproduced and even then they all likely have mining farms that would be negatively impacted by flooding the network with more miners.

    This kind of oversaturation seems to happen often, and Dash does seem to be picking up quite a bit in transaction volume so hopefully that's organic and will continue to increase over time. Profitable mining usually requires a long game that anticipates appreciation of the mined coin over time and an expectation of increases in network rate. If all miners were just dumping when their coins/machines dipped then the market would crash and it hasn't happened yet.

    If the D3s represent a significant proportion of your savings then you might be better off writing off the loss and getting into something else because in the near term things aren't likely to be good going into December when Bitmain and a few others are expected to ship several more batches unless Dash user adoption just magically takes off. Now would probably be an ideal time for the Dash "treasury" to start spending big money on advertising and marketing to grow their users in proportion to the hashpower that's coming online.
     
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  5. Meniser

    Meniser New Member

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    I see the price of Dash increasing in the near future but that isn't going to be enough. The community as a whole needs to get on the same page and do something.
     
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  6. Ftoole

    Ftoole Member

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    What does the community need to do?
     
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  7. TheRealMacAries

    TheRealMacAries New Member

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    How about asking BitMain to accept DASH as payment for their mining products that's all I see supporting current Bitcoin Cash Appreciation.
     
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  8. Bilkymesk

    Bilkymesk New Member

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    Where did you get info of the price of Dash?