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Title: no incentive to mine, electricity costs > than profit whats the point? The dev- Post by: justbeingmanan on December 12, 2015, 04:42:11 PM -velopers need to fix satoshis mess first of all the fee needs to be increased to provide compensation an incentive if you like to continue to mine without power companies breathing down my throat sort it out or i will abandon bitcoin and never mine again and so will lots of other people
Title: Re: no incentive to mine, electricity costs > than profit whats the point? The dev- Post by: BTCBinary on December 12, 2015, 05:13:33 PM There's no incentive to mine if you have an ASIC or two. Mining has come to the point if that you want it to be profitable you will need to invest a lot
Title: Re: no incentive to mine, electricity costs > than profit whats the point? The dev- Post by: ezeminer on December 12, 2015, 05:46:12 PM -velopers need to fix satoshis mess first of all the fee needs to be increased to provide compensation an incentive if you like to continue to mine without power companies breathing down my throat sort it out or i will abandon bitcoin and never mine again and so will lots of other people Please stop spamming, you already have one thread about the same topic.The only reason mining isn't as easy anymore is because there are huge farms in China, Goergia, and anywhere with electricity under $0.05 per kwh. Look at your electricity bill, if it is $0.10 or higher, it is harder for you to ROI on a miner. Miners also operate at different efficiencies. S1- 2W per GH S3- 0.8W per GH S5- 0.5W per GH S7- 0.25W per GH Honestly Bitcoin doesn't care about your power costs. Bitcoin has been industrialized. Bitcoin doesn't have to change. To be honest I am perfectly fine with not being a large miner. I run lotto USBs, and quit mining this past spring. If you want to make money on Bitcoin, go buy a chunk of land, build a mining farm, get tons of AC, buy S7's, secure a sub $0.05 per kwh power contract and you're good. Anyways the blockchain was built to eventually run off transaction fees. It wasn't built to be short term for transaction fees to compensate miners. Long-term we will see if the social experiment of Bitcoin coming to the world. We don't know what the future holds, be we all have faith in it. Title: Re: no incentive to mine, electricity costs > than profit whats the point? The dev- Post by: justbeingmanan on December 12, 2015, 06:16:04 PM its put me off ill stick with mastercard no incentive
Title: Re: no incentive to mine, electricity costs > than profit whats the point? The dev- Post by: VirosaGITS on December 12, 2015, 09:44:47 PM its put me off ill stick with mastercard no incentive Not sure what you're talking about. The BTC price is so high right now, even old hardware like S1 is being profitable again, even in the US with their High electricity cost. I recommend you redo your math. Right now, it is crazy lucrative to mine. What you're asking can't happen for so many reason, but i'll name one reason; Because its working just fine. Title: Re: no incentive to mine, electricity costs > than profit whats the point? The dev- Post by: Amph on December 13, 2015, 08:50:40 AM the incentive is the demand, the more demand the more value, the more profit for your asic, as a consequence even fee will have higher value(related to usd)
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