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Title: What will you do when it's no longer viable to mine? Post by: gjgjg on November 07, 2013, 12:09:19 AM As so many of us are getting pushed out before we expected to, I cant help but wonder what other people are gonna do with all that hardware once it becomes worthless for them to mine BTC.
Even pretty powerful rigs (by today's standards) are gonna become like dust generators after a few months/years. So what's next for you? edit: to clarify, i mean: no longer viable to mine with current hardware (sticking with btc implies buying more hardware to increase hashing capabilities or keeping current hardware and continuing even if not profitable and or going for %fees etc). Title: Re: What will you do when it's no longer viable to mine? Post by: Walter Rothbard on November 07, 2013, 12:12:53 AM Bytecoin beckons, and after that it's ThirdCoin.
Title: Re: What will you do when it's no longer viable to mine? Post by: Walter Rothbard on November 07, 2013, 12:14:41 AM The thing is, it's not viable now. Most of us purchasing hardware will not see a ROI. Almost all of us who are mining now are doing so past viability, by some measure.
Title: Re: What will you do when it's no longer viable to mine? Post by: Zawamiya on November 07, 2013, 01:57:38 AM Solo mining for fun and sell it after a month.....
Title: Re: What will you do when it's no longer viable to mine? Post by: Icon on November 07, 2013, 03:31:55 AM 1 word.. ok maybe 2 words.. Altcoin mining.
Mine alt coins and use the 100 of exchanges out there to trade for btc. Title: Re: What will you do when it's no longer viable to mine? Post by: FeedbackLoop on November 07, 2013, 04:00:01 AM I'll never stop. I will enjoy the subsided heating. Title: Re: What will you do when it's no longer viable to mine? Post by: DrG on November 07, 2013, 07:57:42 AM No longer viable to mine? I can't imagine that day happening... I guess I would have to commit seppuku ;)
Title: Re: What will you do when it's no longer viable to mine? Post by: BadAss.Sx on November 07, 2013, 01:22:18 PM It gives me extra heat in this winter, so i won't stop it. but i will go solomining on alt coins...just for fun
Title: Re: What will you do when it's no longer viable to mine? Post by: os2sam on November 07, 2013, 04:19:23 PM >> What will you do when it's no longer viable to mine?
It's never "no longer viable to mine" Title: Re: What will you do when it's no longer viable to mine? Post by: gjgjg on November 07, 2013, 07:27:21 PM >> What will you do when it's no longer viable to mine? sorry, should have clarified: i mean financially viable with current hw. you have - added addendum:)It's never "no longer viable to mine" Title: Re: What will you do when it's no longer viable to mine? Post by: gjgjg on November 14, 2013, 07:47:05 PM Only 30 votes but 50% will sell off or stick with btc. I'm surprised!
Title: Re: What will you do when it's no longer viable to mine? Post by: Thenen on November 15, 2013, 01:53:54 AM Sell it off, if it has no value then I will just keep it and wait for difficulty to drop...
Title: Re: What will you do when it's no longer viable to mine? Post by: Undefeatable on November 15, 2013, 03:35:33 AM Continue to mine the fee :), the fee would be really high that time...
Title: Re: What will you do when it's no longer viable to mine? Post by: Ruzka on November 15, 2013, 04:02:15 AM I wish it was currently viable for me to mine haha.
Title: Re: What will you do when it's no longer viable to mine? Post by: MilesJohan on November 15, 2013, 05:02:25 AM Sell it, the transaction fee is like only 0.1 BTC...
Title: Re: What will you do when it's no longer viable to mine? Post by: MarketTime on November 15, 2013, 10:17:39 AM Mine for transaction fee cause the fee would be really high if everyone starts using Bitcoins....
Title: Re: What will you do when it's no longer viable to mine? Post by: hashturbator on November 15, 2013, 09:45:52 PM Mine for transaction fee cause the fee would be really high if everyone starts using Bitcoins.... I can't wait to see where transaction fees will bring the block rewards to. IMO, I think we'll see larger payouts from transactions than the 50 BTC rewards of the old days ..not tomorrow, of course, but in good time. In fact, it wasn't long ago that I saw a 6-8 BTC bonus of transaction fees on a block solved by Slush's pool. Title: Re: What will you do when it's no longer viable to mine? Post by: realitycheck on November 15, 2013, 09:50:03 PM I have switched to CEX.io (https://cex.io/r/0/jsjewjwewe2/0/) and sold my BFL 60Ghs unit on ebay.
Title: Re: What will you do when it's no longer viable to mine? Post by: sonikku13 on November 15, 2013, 11:13:15 PM Mine altcoins. In my case, once Litecoin goes kaput profitability-wise, I'm done mining and will dump my trifire Radeon HD 7970 rig for a next-generation Radeon, which I'm guessing will be called the Radeon R9 390X.
Title: Re: What will you do when it's no longer viable to mine? Post by: qtronix on November 15, 2013, 11:18:00 PM i am only running a few gh but the number go up very slow to what they did, so i will have to upgrade or sell in a couple of weeks. its not worth the hassle now :'(
Title: Re: What will you do when it's no longer viable to mine? Post by: DeathAndTaxes on November 15, 2013, 11:21:48 PM Mine for transaction fee cause the fee would be really high if everyone starts using Bitcoins.... I can't wait to see where transaction fees will bring the block rewards to. IMO, I think we'll see larger payouts from transactions than the 50 BTC rewards of the old days ..not tomorrow, of course, but in good time. In fact, it wasn't long ago that I saw a 6-8 BTC bonus of transaction fees on a block solved by Slush's pool. Very unlikely. Tx fees are likely to remain low. Then again the purpose of mining is to secure the network not get rich quick. As the value of BTC rises the nominal amount of BTC paid in fees per tx will decline. The rise in tx fees will partially offset the drop in subsidy but we are unlikely to ever see a 50 BTC block again (baring some insanely expensive one time mistake by a user). When the block subsidy cuts again to 12.5 BTC we probably will never see 25 BTC blocks and etc. Title: Re: What will you do when it's no longer viable to mine? Post by: LittleD on November 15, 2013, 11:47:04 PM Mine for transaction fee cause the fee would be really high if everyone starts using Bitcoins.... I can't wait to see where transaction fees will bring the block rewards to. IMO, I think we'll see larger payouts from transactions than the 50 BTC rewards of the old days ..not tomorrow, of course, but in good time. In fact, it wasn't long ago that I saw a 6-8 BTC bonus of transaction fees on a block solved by Slush's pool. Very unlikely. Tx fees are likely to remain low. Then again the purpose of mining is to secure the network not get rich quick. As the value of BTC rises the nominal amount of BTC paid in fees per tx will decline. agree with you bro. Not in it to get rich (but im still hopeful), dont stop minigm. BTC will only go up in value, 1000 per BTC BTCBTC one day Title: Re: What will you do when it's no longer viable to mine? Post by: BitcoinAddicts on November 16, 2013, 01:09:06 AM Mine for transaction fee cause the fee would be really high if everyone starts using Bitcoins.... I can't wait to see where transaction fees will bring the block rewards to. IMO, I think we'll see larger payouts from transactions than the 50 BTC rewards of the old days ..not tomorrow, of course, but in good time. In fact, it wasn't long ago that I saw a 6-8 BTC bonus of transaction fees on a block solved by Slush's pool. Very unlikely. Tx fees are likely to remain low. Then again the purpose of mining is to secure the network not get rich quick. As the value of BTC rises the nominal amount of BTC paid in fees per tx will decline. agree with you bro. Not in it to get rich (but im still hopeful), dont stop minigm. BTC will only go up in value, 1000 per BTC BTCBTC one day Hoarding Bitcoin like no tomorrow, selling when it hit $1000 each :) Title: Re: What will you do when it's no longer viable to mine? Post by: hashturbator on November 22, 2013, 07:17:18 AM Very unlikely. Tx fees are likely to remain low. Then again the purpose of mining is to secure the network not get rich quick. As the value of BTC rises the nominal amount of BTC paid in fees per tx will decline. The rise in tx fees will partially offset the drop in subsidy but we are unlikely to ever see a 50 BTC block again (baring some insanely expensive one time mistake by a user). When the block subsidy cuts again to 12.5 BTC we probably will never see 25 BTC blocks and etc. Certainly an overestimation on my part ...but as you say the value of BTC rises, the amount paid in fees will decline... as a result of smaller units of coin necessary in transacting an equivalent fiat value? -to be sure I understand the logic. How do you imagine block rewards to look then as the volume of transactions increase, and more emphasis is placed upon transaction fees in determining prioritization? I understand there's limits to the block size, so that might be something to counter growing transaction fees there as well. However, might smaller transactions allow for more transactions in a block? *snip*... it wasn't long ago that I saw a https://blockchain.info/block-index/438711Found the block in question, only it was 10 BTC in transaction fees. Certainly the largest I've seen to date. Title: Re: What will you do when it's no longer viable to mine? Post by: DrG on November 22, 2013, 11:36:43 AM Found the block in question, only it was 10 BTC in transaction fees. Certainly the largest I've seen to date. There are several instances of mistaken fees near 100BTC. Good guild operators will typically send back those fees. |