Bitcoin Forum

We just crossed below the profitability point for all the 1Ghash for 1W home miners out there (home meaning electricity is 10c/kWh).

I'm keeping my miners on just due to the fact they keep my room warm. End of an era for my home mining setup.

The majority of miners are running more efficient miners than the OP's. They've been saying the death of home miners for a while. Industrial mining farms are still going strong, they get far less expensive electricity than you, can't compete with them. This is not sustainable. Coins centralized in a few big whales and early adopters, hash power centralized in a few mega farms, bitcoin will implode.

 The price dropping to under 49 usd for 6 weeks will end all big farms.   It will also make a new danger:

  a network back down to 70 or 80 ph with 220ph sitting on the sidelines. BTC times are very interesting at the moment

Unless there is a "flash crash" as the price drops, the weaker hands will drop out with mining difficulty going down. Barring a new technology, I think difficulty will follow price for the foreseeable future.

Time to put my Bitcoins on an old hard drive and forget about them for 2 more years. Peace you an find me a the Freebitco.in  faucet XD !

Mining days are short lived now. If you want to continue the mining adventure then look into Burst coin mining given the fact that you mine with your had drive and it is proof of capacity rather than proof of work or stake and to me hard drive mining vs sha mining is way more profitable with around 10TH am generating close enough to 1BTC every 30 to 40 days and to do that with 1TH of mining power would cost more in energy used daily.

I think its crunch time for lots of miners now price is this low and difficulty this high.

If my miners weren't providing some heat to offset the running costs because now it's the middle of winter they would have been switched off and sold by now. Sad times indeed....

Stopped mining a few months back only time ill flip my miners on is for some alt coin that comes along and stock up on them for a few days then turn back of. Am more interested in burstcoin and how that is making some progress compared to a lot of other alts as its POC mining with your hard drive and its the only one of its kind going.

I would like to see your math because we passed this long time ago. LOL

seriouscoin, you're wrong.
Math:
1) 1 gh/s for 1W = 1000 gh/s for 1KW
2) 1000 gh/s mine 0.01144 BTC per day(https://bitcoinwisdom.com/bitcoin/difficulty)
3) 0.01144 BTC  = 2.39088 USD (current btc-e price $209 per btc)
4) 1 KW * 24 hours *0.1 USD/(KW * hours) = 2.4 USD

So TheJuice was right.
QED.

Although, if you mean a relatively recent period, when the BTC cost even cheaper, then you're both right. But in any case we did not pass this a long time ago.

That's ok if you're only paying $0.1 for electricity. Here in the UK I'm paying $0.25 so for me its:

4). 1 KW * 24 hours *0.25 USD/(KW * hours) = 6 USD :o

Ofcourse i meant that. If you keep using the price jump then the break even point will keep moving now doesnt it?

Do you know what "crossing" mean? You crossed it last week LOL