Bitcoin Forum

example.

2020 years that will be btc price and difficult same what is nowadays will be same profitable if more low profitable will be ?

So you're asking my if in 2020 it will be more profitable to mine or not in comparison to 2015?
If the price stays the same and difficulty (of which neither will) it should yield about the same profits. Although if the prices of energy rise or drop it could affect that.
I'm pretty sure that the difficulty will grow; by then we will have much better miners than today.

Correctly understood.

but in 2020 will happens block halving and this halving doin't cause low profitable /?

nothing will change, we would have stronger miners, but also a "stronger" diff, ratio will be always 1:1

but...there is a but, every time that the price increases by a large amount, the diff can't keep up with it fast enough, thus creating "a window of opportunity"(of two week, because of the diff retarget) where casual miners can join and gain profit


the block halving will only eliminate in the end, those small farms, until only 2-3 giant farms will survive

i can't undersood , you told me very hard i can't translate, you try little simple will tell me :)

This is wrong. Please don't spread it around.

The first block halving will happen in 1 year and 3 months. In theory the halving should make the price rise; we will see what happens then.
If the price stays the same and we have 2 halvings, it's obvious that mining will be less profitable.
Then again some miners will leave, difficulty will adjust. It should be better for the persistent miners.

What he is saying that the block halving will eliminate small miners and that mining will be completely centralized.
Ignore that.

so , unbroken must will happens halving and after will happens price increase and this will be good ?

why happens price increase ?

and this price rise bitcoin never drop ?

You're quite hard to understand. Hopefully you also understand what I'm telling you.
The halving must happen, it's coded and wont' change.
To understand why the price should (I did not say that it will) rise you have to understand something in economics. That's supply and demand.

Hopefully this will help: http://www.env-econ.net/supply_demand.html
The price of Bitcoin does not always rise. It is very volatile (i.e. it is often changing).
http://www.coindesk.com/price/

how is it wrong? this is exactly the vision of satoshi, having in the end only few big farms nothing else

even if the price rise, the diff would rise too(the cost of electricity too ecc...), in the end, small farms will be taken out , they will not be able to compete any more

p.s. 2-3 giant farms controlling the network doesn't mean centralized at all, centralized mean 1 farm controlling it aka 51%, otherwise i could argue that it is already centralized...


that only few big farms will remain, but this isn't a bad thing like many think, it's good, will make the network stronger

That's true. He foresaw that, but it has no correlation with the halving.  This has already partially happened as mining can't be hobby anymore (unless one likes losing money). Mining has become industrialized.
That's nothing surprising. The same is happening with companies because of their low capital compared to the big players.
I think you don't see the difference between farms and pools.

Take a look:
https://blockchain.info/pools
There are 4 major pools at the moment that are over 10%. Let's ignore that 'unknown' now.
This means that the pools are consisting out of many miners (i.e. farms). You definitely can't argue that the mining is centralized now,
As long as we have a few pools and the hashrate is somewhat distributed we're okay. If we only have a few farms (2-3) then it is very centralized.

Also centralized mining is definitely not something good.

this home mining worth ?

i going to will buy 50 miner and worth 50 miner that will buy ?

i will be problem and don't will be income ?

i want that living mining and i'm interested  worth ?

yeah but what the difference between 4+ pools having 10% and 3 having 33%(for example), in both case it does not look centralized to me

as long as there isn't 1 pool controlling everything, it can't be said that it is centralized, at least that's how I see it

Home conditions mining in future isn't problem ?


worth that i will buy 50 miner and i will begin serious mining ?

You said 3 farms not pools. There is a difference. It's much worse to only have 3 farms.
A pool is a group of miners (i.e. farms). A farm is just a single farm run by a single person or group of people.

Mining in your home is not worth it. If you buy 50 miners today they will definitely lose value because new miners are being released regularly.
There is quite a good chance that you're going to be losing money.

You can't mine using 50 miners in a home. If we assume that they are the top models; you don't have such a power supply to your house and you don't have proper cooling.

why ?

i don't have electrisity and cooling problem .

just interested me , why don't worth in home mining ? problem is this that same profitable isn't will be ?

Mining is never too profitable in the moment you mine because you are mining with a difficulty according to the price (more or less) but if you start mining today and even if you only get 0.1 per month these days then its not going to be profitable but if in 2 years the price jumps to 2.000$ and you mined 2 btc then you would have 4k$ instead of 400$ wich would be the price right now

I interested me worth if not mining ?

Maybe that Mining will cancel ?

Let's say you want to use 50x BF4500 by Bitfury.
Each unit needs 3000W of power. That's a total of 150 000W or 150kW. I'm not sure exactly how much power you can draw at the same time, but the number is definitely lower than that.
It's is not worth it because people with bigger farms and more capital will run you out of business.
This doesn't make sense. Use google translate; it is going to be more accurate.

I should will buy 50 s3 and this dont is problem .

I want just know , exist any cause that mining will shut down ? I dont want that my 50 s3 Dont need .

How many about years will exist mining ? My in house that will have miners

It will use around 16, 800W of power. Depending on where you live this could still be a problem. Houses usually don't have industrial level electricity.
For that power you will get 22, 500 GHash (±5%). That's 22.5 TH/s.
To get 22.5 TH/s you would need to buy 5 BF4500 miners. They would spend 15 000W of power. This should be better actually.
If you were to go for efficiency the Antminer S4 should be the best (I think).

The last Bitcoin will be mined in 2140 (could be a bit sooner). Mining won't shut down; the network can't operate without it. However there are different scenarios to consider: Bitcoin could die, your miner could become obsolete, the price could go down even further.

I going to will make fine electrisy wire and should will make electrisity3 faze .

So , i will make income one in home 3 electrisity wires

Asics change a lot between generations.  In year 2020 all S3's will be sitting on shelves. 

No one will still be using them in 5 years, it's just that simple.

Why ?

Profitable will be same.

Than i will buy  s5.

Because technology is rapidly changing. They won't be profitable in the future.
Do some research on your own so you stop asking questions that are deemed stupid.
All the S3's you buy will be worth almost 0$.

Than i will buy s5 .

better to wait for s6-s7 they should come this sommuer, at least rumors said so

they are more efficient than s5, less heat on your apartment

Wooow , amazing.
Summer will be s6 .

And this s6 install hard will be ?

If same will be install similar s5 ,s3 .

Even if you buy a S5 chances of it being used in 2020 is slim.  A miner's lifetime is no where near 5 years.  The advancements make this impossible.

They are able to do more power for less electricity each generation.   It does not matter what miner you buy in 5 years it's to old.

You will need to wait as I haven't seen any news regarding the same yet, and unless an official announcement comes, it won't be possible for anyone to tell you whether installation will be the same or not...

That account is a troll.  He in another thread is talking about putting 50 miners on a balcony.... he goes from thread to thread to trolling.

If buy s3 . in 2020 will be low profitable ?

Lol, ok... I didn't observe that thing...
Can you please show the links this guy's been trolling at???
And BTW, 50 miners on a Balcony, seriously??? This is serious and we need to look into this matter, why this guy is trolling like that everywhere...

How is s6 please will see image

 Not to buy 50 S3.  Much waste!  Make pay for English lesson rather.  Ability come understand advice seek in English language forum.  See you fruitless endeavour mining.

 

So 5 years from now mining will be profitable again?

I say thats if it goes through a serious value increase, thats the only way anything will be worth doing. And at this moment 5 years is apart is a long time, but from past experience of 3 years ago when the ETF was proposed by the winkelvoss twins they still havent updated whats going on with it.

Which is where the value for mining would impact on that event on what I mentioned.

He's trolling.  If you notice the 2 behind his name.    I'm not sure if first one was banned for trolling/posting over and over.  But he won't be buying 50, hes just trying to get posts.

Mining is never supposed to be too profitable according to the actual price of the bitcoin in the moment you are mining, if the difficulty increases the price should too, unless you try solo mining wich is luck based and pretty stupid if you ask me

Mining is always suppose to be profitable....  there are huge companies based on this.  Yes it can be done profitable.

You do need cheap electricity.  But it can and is being done. 

You didnt read well i said ''TOO'' profitable, like you will never get instantly rich because of mining, of course its profitable if it wasnt bitcoin would be dead and no one would want to mine anymore. Unless you mine new coins for pump and dump or you get lucky and mine a coin that will raise in price hugely.

Define "TOO" profitable? I would say some big companies are making a lot.  They do it in scale.   

I will wait s6 and after buy from amazon

You have to realize that there is no official announcement in regards to the S6 (at least not one that I'm aware of).
Even if they release the S6 that still means that in about a year your miner will be mostly obsolete. Technology is improving and the miners are constantly becoming more efficient.

yet if isn't release the s6 .
then what will do i ?

probably better s5 buy.

i think s5 more anyway will be profitable in future

What i mean with too profitable is that right now even if you have the best hardware and all the good stuff you wont be able to make incredible amounts of money with mining, but if the price rises in the future then you would get more profit.

Why would you think that? Don't think on your own when you don't have the required knowledge to make such assumptions (you've been asking many questions). S6 will definitely be more efficient than S5.
This just depends how much the GH/s per W ratio is.
I'm just going to tell you that you should not expect to be making money off of mining.

Maybe that s5 go big losing in future ?

Satoshi was a genius so he made the blockchain self regulating, that means that it will always be profitable for someone out there to do the job of mining/acting as a node. If you are not willing to do it, someone else will be in a position to take profit.

Its designed to scale by itself. If price will be low, there will be less miners, if price will be higher (because less new bitcoins), miners will keep mining.

Yeah thats my point when im saying that mining cant make you win a fortune when you are actually mining, however if you start mining today until 2018, lets say you made like 5 bitcoins and you wait till 2020 and the price rises to 3000$ then yes you would have made a good amount, still not that much for 5 years.

You guys are giving "toqchista2" way more effort in anwser then needed.   It is a trolling account.   Look at it's history of posts.

I thought for a while it was language barrier... it is not.

ahah, yeah it looks like you may be right yeah.

Then why the mods don't lock such threads themselves, when they know that the OP is just trolling and won't come back to reply?

Well I initially thought he was a honest guy who just had language problems but needed help. I decided to help him. I guess that was a mistake.
If you take a closer look at his post history, as said, he seems to be a troll who already has/had 1 account banned.
Mods can't lock this thread because nobody reported it I believe. Just click the report button.

I can't figure it out.  He says that... but first account still logs in. https://bitcointalk.org/index.php?action=profile;u=439766

I'm not sure if it's same person or someone impersonating him to troll.  I do wish a mod would look into it.  And take action on one if not both accounts.   

You do realize that when you're banned you can still log in? You just can't actually do anything besides reading threads.
If that account is indeed banned and it is the same person, then he is ban evading. He should be permanently banned.

Luckily I did not know this.   I have not dealt with ban's. I have never been banned I assumed banned it locked you from logging in.  

I guess someone should make a report and he can get perm ban for evasion. (Assuming he really got banned ad it is same person)

It's so far in the future we cannot really give it a educated guess.  We have some having sooner than that that we don't know what effect will be.

There is just a lot of unknowns.  5 years in crypto time is HUGE.

I believe it will be more profitable to mine in the future, the price per btc will go up, the cost of electricity will go down, there will come more efficient miners that is cheaper to produce in the future. The difficulty will go up to but it will not keep up with the other improving factors.

Mining will likely retain the same profitability virtually forever.   When price goes down, less people mine and difficulty goes down to meet this.    If price goes up, people jump on board and diff goes up.   It is too competitive of a market at this point.    Even when no more coins are "mined", the theory is that BTC will be valued high enough that the transaction fees alone will make it worth mining.

BTC is really really young as far as what it is.  We have yet to see a lot of it's potential.  The top quote from toqchista2 was one of his many spam's if you read it mentions same difficulty... but we should stop quoting that.

We really don't even know what will happen at next having with price, home miners, etc.  So there is no feasible way we can have a good idea of what year 2020 holds for BTC.