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Title: Will you mine at a loss? Post by: hollajandro on August 05, 2011, 11:58:37 PM Just wondering when you guys will call it quits or how many of you will consider further investing in mining btc past the negative profit mark.
Title: Re: Will you mine at a loss? Post by: Nagios on August 06, 2011, 12:09:38 AM <-- In it for the long haul.
Title: Re: Will you mine at a loss? Post by: Transisto on August 06, 2011, 12:52:43 AM if it cost me less to buy BTC than the electricity it cost. What do you think I'll do ?
There is no mention of difficulty so this survey is invalid. Title: Re: Will you mine at a loss? Post by: payb.tc on August 06, 2011, 01:02:34 AM if it cost me less to buy BTC than the electricity it cost. What do you think I'll do ? it costs less to make a sandwich than it does to buy one. people pay for convenience, and I'd say if you already have a mining rig completely set up, then continuing to pay for electricity would be far more convenient than trying to buy (especially if you've never bought before). Title: Re: Will you mine at a loss? Post by: triforcelink on August 06, 2011, 01:55:17 AM if it cost me less to buy BTC than the electricity it cost. What do you think I'll do ? it costs less to make a sandwich than it does to buy one. people pay for convenience, and I'd say if you already have a mining rig completely set up, then continuing to pay for electricity would be far more convenient than trying to buy (especially if you've never bought before). Title: Re: Will you mine at a loss? Post by: wallet.dat on August 06, 2011, 02:08:57 AM I'm currently mining about 150 Bitcoins per day on my Core i7-920. It costs me approx $1 per day in electricity to leave my machine on and Bitcoins trade at $.005 each. So I'm getting about $.75 worth of Bitcoins per day for a $.25 per day loss. Screw this. It's not even worth it I'm out.
Peace, Early adopter Title: Re: Will you mine at a loss? Post by: jackjack on August 06, 2011, 02:37:30 AM I'm currently mining about 150 Bitcoins per day on my Core i7-920. It costs me approx $1 per day in electricity to leave my machine on and Bitcoins trade at $.005 each. So I'm getting about $.75 worth of Bitcoins per day for a $.25 per day loss. Screw this. It's not even worth it I'm out. ;DPeace, Early adopter Title: Re: Will you mine at a loss? Post by: kokojie on August 06, 2011, 02:45:15 AM I'm currently mining about 150 Bitcoins per day on my Core i7-920. It costs me approx $1 per day in electricity to leave my machine on and Bitcoins trade at $.005 each. So I'm getting about $.75 worth of Bitcoins per day for a $.25 per day loss. Screw this. It's not even worth it I'm out. Peace, Early adopter yeah, it does not make sense to mine, actually, in that situation. It'd make more sense to use the money that you pay for electricity and buy the coins directly. Title: Re: Will you mine at a loss? Post by: hollajandro on August 06, 2011, 05:04:09 AM if it cost me less to buy BTC than the electricity it cost. What do you think I'll do ? There is no mention of difficulty so this survey is invalid. Obviously as this was posted today, I am asking in regards to the difficulty as of this posting. Title: Re: Will you mine at a loss? Post by: CD-RW on August 06, 2011, 03:47:08 PM I'm not mining for the profit, I'm doing it for the technical tweaking.
Title: Re: Will you mine at a loss? Post by: FreeJAC on August 06, 2011, 04:12:32 PM It's a hobby for me as well, but I would be lying if I didn't admit that the current price drop is bothering me. Was hoping to cash in a few to get a nice b.day gift for my wife that is turning 40 next week. Looks like this isn't going to happen. I mined half and bought half my stash around $13.5 and need to get my value out of it, so am currently holding...
Title: Re: Will you mine at a loss? Post by: Quix on August 07, 2011, 11:46:37 PM I basically switched over my folding@home hardware over to this so yeah, I'll keep doing it for a while. It's possible that Bitcoin will take off but if it doesn't it was still fun to help out an experiment of this magnitude.
Title: Re: Will you mine at a loss? Post by: mb300sd on August 08, 2011, 11:50:05 PM Elec is free, will need heat in the winter anyway, so no reason to stop...
Title: Re: Will you mine at a loss? Post by: naypalm on August 09, 2011, 02:13:35 AM I'll keep going until something fries or catches fire! 8)
Title: Re: Will you mine at a loss? Post by: tonto on August 09, 2011, 07:49:07 PM I will mine at a loss, yes. I was already "mining" SETI@home and then later folding@home, so doing bitcoins is already better so long as it trades (for me), more than a penny per coin.
I just do it on my gaming rig, so I mine when I'm not gaming. Matter of fact, bitcoins is slowly helping me fund an awesome gaming rig ;) Title: Re: Will you mine at a loss? Post by: Bitonetta on August 09, 2011, 10:58:59 PM So how can I answer? Will I mine at a lose? No.
But I will still mine FOREVER! mwahhhhh Since I have free electric and already running dozen of boxes, they just chug away in my currently spare room (with the air conditioning there on 24/7 as well) out of sight and out of ear range. ;D I guess it'll become 'unprofitable' to me if/when bitcoin hits zero. I'll end up stopping when I want my spare room back tho. Title: Re: Will you mine at a loss? Post by: AngelusWebDesign on August 09, 2011, 11:02:52 PM So how can I answer? Will I mine at a lose? No. But I will still mine FOREVER! mwahhhhh Since I have free electric and already running dozen of boxes, they just chug away in my currently spare room (with the air conditioning there on 24/7 as well) out of sight and out of ear range. ;D I guess it'll become 'unprofitable' to me if/when bitcoin hits zero. I'll end up stopping when I want my spare room back tho. Unless you have solar panels, SOMEONE is paying for it, and they're not going to like it when they get their first electric bill since you added a dozen rigs (plus extra A/C) to your normal electric usage. Title: Re: Will you mine at a loss? Post by: tonto on August 10, 2011, 02:02:01 PM and even if you had solar panels, you had to pay for them, too, and won't recover the cost to "free" for a few years....
That said, I'm trying to talk my wife into letting me get like 3 MW worth of solar panels :) Title: Re: Will you mine at a loss? Post by: hmblm1245 on August 10, 2011, 02:25:00 PM and even if you had solar panels, you had to pay for them, too, and won't recover the cost to "free" for a few years.... That said, I'm trying to talk my wife into letting me get like 3 MW worth of solar panels :) Good luck. i am still trying to talk my wife in to letting me use one room for mining. Title: Re: Will you mine at a loss? Post by: Bitonetta on August 10, 2011, 04:19:43 PM Been mining for months, never a word and I'm not expecting any either especially since I've been living here for years. What's funny is electric use from my actual bitcoin machines is not even the bulk of my electric use. Like I said before (since Angelus has so kindly commented on the same thing from earlier forum posts), I have plenty of other machines at my home which are using more electric then my bitcoin boxes. I've had to kill-o-watt them out to make sure my circuits are safe and balanced to prevent them from tripping. And those have been running 24/7 for years, again without problems and even approval from the only people who care.
But the answer to your question, I guess someone is paying. Do you live in the US and pay taxes? Then I want to thank you for your continuing (indirectly) support of my electrical use. ;D |