Bitcoin Forum

There is nothing left to mine, it all is basically unprofitable now. I can't even sell my mining equipment on Ebay, trying to sell 1.9 m/h system using 3 Twin Frozr 7950 gpu's for 1100.00 and no takers on Craigslist. I won't part it out on Fleabay because losers will buy the gpu's and use them for 45 days then say they are not as described. So I guess I will just throw the shit in the garbage.  I have a number of miners and no way to sell it.  The noise and wear and tear on the miners is not worth the measly few dollars it makes a day after electricity costs. Litecoin falls everyday, bitcoin is flushing down the shitter, and all the rest of the shit coins are done for also.

Mine x11? It uses less electricity, and outputs less heat. Personally I think this algo has a bright future for the mid-term at least. I think HIRO and Darkcoin are going to be big. You can also lease rigs, which are VERY profitable.

You have to mine algos that consume less electricity, ie. X11(Darkcoin,Hirocoin, etc.), Quark, HVY, Myriad, etc.... Mining isn't completely dead. Plus there's a XPM gpu miner now.

You'll get people that argue that X11 isn't running at max because of the low energy cost, who cares, it's lower usage period.

HD 7950 goes for as low as $180 on Craigslist up to $250 max, $200~$225 on average.

If you think all crypto currencies are dead, dead, deadski, then pack it all up and ship it to me. I'll pay the shipping.    ;)

Otherwise, think about adapting, and consider this to be "speculation," like the old fashioned gold rush guys did. It may not bring you "income," but it can bring you profit in the future. BTC was $1000+ 6 months ago. It could come back and go even higher. What do you think? Speculate.

If it's possible that it could go back up, and you want to speculate, keep going and take the risk. With risk comes reward. You have keccak, script-n, script jane, etc. There are lots of viable coins out there for your GPUs.

Maybe look for a place to set up where you don't pay electricity. Can you find a corner at your work where nobody would mind a rig?

Or, like I said, give up and let the more committed folks have all the fun.

Still some new coins are profitable. But yes profit margin is reduced drastically.

Right now. If you hold and when BTC returns to $600 ish, I'd imagine Altcoin mining profitability would also go up.

There we go as lorde sings...round and round and round we go :D ???

Maybe May, the market might turn around and up trend. By then, everyone in the US will have extra cash from tax returns...LOL

Yes i agree, this is now profitable mining for less electricity. Started to mine dark today we will see now it goes.

Mine darkcoin it will reduce the electricity bill and you can have some profit

lots of cheap rigs and video cards for sale on used market.  if people planned their breakevens properly and didn't overpay, they should be still profitable just less profitable than november.

Personally I like the concept behind blackcoin. Check http://www.cryptoarticles.com/crypto-news/2014/3/14/blackcoin-multipool-launching-today (http://www.cryptoarticles.com/crypto-news/2014/3/14/blackcoin-multipool-launching-today)
You can mine all kind of altcoins using their multipool and get paid in Blackcoins. This gives a positive upward pressure on the blackcoin price and thus making you more money mining. Price of BC is going up every day so it looks like this is working.

I stopped mining due to summer heat. Looking for best cloud mining now.

Stopped because of heat? There is this new invention called a fan... and if you're cutting edge you can go for the new-fangled "air conditioning."

You could mine x11, and use the above cooling solutions.... Or use air ducts to transfer heat elsewhere (ie, outside)

Mine x11 they consume less power and less heat from cpu or gpu depends of what mining solution your on.

xpm gpu miner's is by far the the best at low elec heat and the most profitable

Look at my babies

http://s12.postimg.org/cv9ipsj2h/01302e490e97ca01703d462d1de5784b07c3ef568c.jpg (http://postimg.org/image/cv9ipsj2h/)
They look dead to you?

FUCK THE HATERS

scrypt-n to the moon

Just an FYI.  Even using an X11 coin it will take you about 2 years of 24/7 mining to break even on a 5 card rig mining Darkcoin.  Hiro is about the same.  And given that this is just the beginning, I'd say that unless Bitcoin prices make a sharp and permanent move upwards, gpu mining will die off long before the 1TH scrypt miners even ship because it's already becoming unprofitable even before the powerful scrypt asics are here and we all know that it's only going to get worse.

Don't believe me?  Run the numbers and consider all your costs, not to mention the value of your time.

For XPM it's currently 4.5$ a day per 280x. It would be lower with the rise of the difficulty, but still...

I sold all 20mhash systems I had before everyone flooded the market with their gear.

Mining is dead, it's a fact. As others already pointed out you will still make money but you won't break even, ever. Because by the time you think you will break even the difficulty will go up and new miners will flood the market. Bottom line is this, the ROI is bad. You are better off trading currency as a day trader vs investing money into mining

You could always LEASE the rig which seems to be more profitable than even multipools... But yes mining is dead unless you have a crystal ball that'll tell you which coins will explode in price xD

The drop in btc effects all mining, not just gpus. Do you really think someone will spend thousands of dollars on an ASIC rig when it has a useful lifespan of 6 months, yet it takes 8 months to break even? If btc drops to $100, then most mining will stop. Only those mining on their existing PCs will go on, big ASIC and GPU rigs will have to shut down.

+1
EVERYTHING is about BTC price

what is XPM?

Right! To illustrate the point, if btc goes up to $5,000, you'll find everyone in the world mining every coin out there with anything and everything they can... their PCs, iPods, DVRs, toaster ovens, whatever.

I thought this is the year where Bitcoin will zoom up to $10000

Mining is only dead for those whose electrical costs are high enough to actually strip out any profit given the coin they are on.  

Mining may be dead for one person, but not at all for another.  Blanket statements like 'mining is dead' are made by newbies who are simply new to the profitability cycle of virtual currency and who likely came in merely for a quick speculative buck based on something they read or where told.  These same newbies always make the mistake of thinking that their ROI will be a linear constant.  It almost never is.  It could be sped up in impressive fashion (re: latest altcoin explosion over the winter), or sit back and plod along like stuff is now.  

In short, you either give yourself the necessary time to potentially break even in the least - or simply don't even get involved in the first place.

Remember, the lazy person always starves - the same is true for altcoin mining. If you don't work at it, you will starve too.  The profitability landscape is always shifting: one must adapt to the shifts.  Nothing ever dies.  

XPM=Primecoin the best coin out

Don't need a crystal ball. Just do your research :) There are plenty of coins that will rise in value in the medium/long term that are easy to spot if you do enough research on them.  As for short term, it is basically a coin toss unless they Develop everything extremely quick or catch a hype train.

GPU mining died when LTC skyrocketed. Everyone and their mother bought any GPU they could find to "get rich". That's when I stopped buying GPUs.

faircoin multipool is up, you can check it..
New coin, a strong community ..

http://fair-coin.info/multipool

Silly post.

Lets say you invest $20k into mining with GPU's for Alt's, you simply CANNOT make your money back mining, PERIOD, THE END! How hard is that to understand? You are commenting about people making money now? I think youre confused. The only people making money are those who started in 2011. Their mining operation paid for all of their expenses by now. If you are just starting now, or even a few months back, you will NOT be able to break even. You are either confused or way too optimistic, which in this case is a lost cause. Bottom line is that people who started mining 2 months ago and going forward will not break even, even if bitcoin price goes up.
Alts were tanking when Bitcoin was at $660, which is about a month and a half ago, they only follow it to a certain degree. Litecoin has been the most stable at around $25. Alt's are simply pump and dump. No one excepts them as a viable currency like bitcoin, and majority are premined and then sold when the value goes up.
If you are in it for the hobby then by all means.

Buy! and believe  ;D

Now it's better to buy coins than hardware mining. So yes the mining is dead (the cause of Bitcointalk.org admins and sh*ty altcoins devs). I don't pay my electricity and my hardware are already refunded then i continue to mine but buying hardware now it's fully useless.

i have almost the same? but only one rige

Excellent.  Just got another 7950 for under $200. 

good deal

$200 refunded in minimum 4 months lol... (each days the difficulty change then finally more than 4months), like i said it's useless to buy GPU now.

With 200$ i buy around 300 darkcoin / 100 vertcoin. How many days for mine this 300 coins using your HD 7950 ? around 400days xD

So you wasted your money into a graphics card  :-*

Excellent, you said.  :D :D  ;D ;D


EDIT: Even 100$ for your HD7950 is too much now ;) (unless if you are a gamer)

+1  Only person in this thread that makes any damn sense.. 

Lol, you are stupid? mathematics can't lie... ATM Mining GPU is dead. Explain me how you can win more than you have invested, if you paid a graphic card 300$ for 400 to 800 kh/s ? You can't, unless the price of the coin is increased, so actually, at the moment, you can only hope to be lucky / to mine a coin who will be high in the futur.

Mining is not dead for peoples like you and me who have already win more than they have invested, cause of the past.

Blanket statements like '+1 but i have no arguments' are made by newbies.

 ::)

When part of posts here I read ... I felt like reading troll box on btc-e exchange ... lol ... nice to read got some fun but in longer term its boring and all same...
partially I got banana on face when looking how some of yoou think :/

Anyway ... I have loads of gpus ... and over week ago bought another 5 r9 290 for great price from panic seller heh ... Still everyday observing for best offers ... if will notice such a = will buy ;)
Why?
I wont answer ... some reasons looks like are overwhelming those who just trolling how mining is dead... and simply dont look at all at bitcoin history and whats happeniing around...

Life IS little similar to market... you just NEED to learn how it works ;)

Good luck and happy mining everyon ;)

Regards
Owner of more and more and more gpus ;)

Times like these are great for a smart miner. Just like in October it was a great time to buy up used 7950s at $150, or at the end of November was a great time to load up on those 280X at $300 and mine the crap out of them through the next 3 months and then unload at 50-100% profit. I don't think we're at rock bottom quite yet, but then again I haven't been following hardware pricing recently. Anyone who wants to quit is welcome to do so, it's only for the better if some sanity is restored. Of course it's unreasonable to expect that everyone and their dog could buy an overpriced graphics card and make 100% in two months, which seemed to be the motivating illusion for a lot of people who are now complaining. Be smart, do your homework, follow the trends, invest with care, and if that's not how you imagine mining - quit.

if the price of bitcoin will going down and you just want to start mining u will never get your money back :P :P :P :P

Few times a year prices of BTC goes down, that doesn't mean u should stop mining.

if you already have a rige

Mining is dead is just BS. Something always comes along and make it work. I buildt two rigs (4x280x each) in september. Took a ride on the Dogecointrain and the Maxcointrain, then i sold it all to gamers in february for 60% of what i payed for it. It worked out quite well. Also, i could turn off my usual 1500w of heating this winter. ;) Now i have a few antminers, and they have soon made a ROI too. So mining is very much alive.

Its alive, but its not profitable. I don't want to resell my stuff later down the road to some ignorant gamers. I myself am a gamer, who wants a GPU that's been running 100% for who knows how long?

don't sell it then

what's the point of selling it, if you know that you are gonna buy another again 3 months later? it sound retarded

Don't resell if you don't want to. GPUs commonly have 3 year warranties, plenty of time for ROI if you keep up with the trends.

On the other hand I always disclose that my GPUs were used for mining when I sell them. Maybe I'm getting a few bucks less because of that. Never had a single complaint. Running at 100% does not automatically mean something bad.

It doesn't "automatically" mean bad. Sure, Ill give you that. Most of the time its usually 100% stuck next to 5 cards doing the same thing, and depending on the algorithm, strain on the card. I never did buy used electronics, especially computer electronics. Now, I doubt I will ever with.

Mining pot @ 4,10c/kWh coal burned electricity. Rigs are outside. I wonder how much they warm atmosphere before the heat is shifted in space.

GPUmining without calculating the resellvalue is just crazy. Also CPU, mobo, harddrive and RAM is worth money. And actualy, one of the 280x i sold went dead a few weeks ago, that guy now has a brand new 280X. It`s called warranty.  ;) You also have to remember that we all saw these "mining is dead" forumposts in spring2012, winter12/13, and fall2013. They all went silent when prices went up. History tells me this will happen again and again.
So mining is not dead. But it is ofcouse worse than it was before christmas.

It's your personal preference and I'm sure you have a good reason for it, but it has nothing to do with mining profitability.

OF course it does. Are you saying you can make a profit off of mining without reselling equipment? If so how? Please, do tell  ;D

Or you can read a few posts above and read EXACTLY what I'm saying. Which is - since you are not going to read anyway :) - that you can resell or not, both ways work. Still has nothing to do with your personal preference to not buy used equipment.

But is mining without reselling profitable? I'm sure it works, but that's what I'm after. If it is, hell, start buying those rigs!

It is profitable for me, but my definition of profitability might be different from yours. You have to do your own math, including cost of equipment, power costs, expected mining earnings, value of your time etc.

That link takes you to the calculations for DRK, HIRO and LIM at 10Mh/s. Currently that instance is only for X11 coins. If anybody can think of any X11s that should be added to the list, let me know and I'll see about adding them. Subsidy functions are surprisingly easy to port from C to PHP!

The app can also be used for other coins, just I'm not personally interested in Scrypt. Nevertheless I've included subsidy functions for a whole bunch of scrypt and scrypt-n coins to make using them even easier. For those of you who are and want to set up a calculator server feel more than free. The code's all up here: https://github.com/n00bsys0p/altcoin-mining-calculator-php.

It'll even run on a local Apache instance as an API if you want it to - you could even set up a cluster, with an instance up for each algo type, so you can keep your finger right on the pulse.

Feel free to PM me for info or instructions!

There are lots of new coins u can mine

Pos is the future. ;)

Mining is not dead ... just mine other asic-ressistant coins like

Vertcoin / execoin -> Scrypt-N based
Protoshares -> momentum-pow based

.. but better the ones with cooler algorithms :

Darkcoin / Hirocoin -> X11 based
Heavycoin ->  LEFTY1 based
Groestlcoin -> groestl based ... which is AMD and NVIDIA-friendly algo too.

Only an unskilled miner can start a thread with the name Mining is dead

Do you know about BTL (BitLeu) ? https://bitcointalk.org/index.php?topic=510353.0
At this moment, mining BTL it is more profitable than.. DOGE !
With a decent mining gear you can earn 0.12 BTC / week, even at the current prices !

I suppose it isn't profitable if you have to pay for your power.
Damn i'm happy with my free power till at least 2017! ^^
I even run my old block erupter blade, it costs 300 watts for 10ghs lol
But the antminers make more haha

I'm sure the price of DOGE will go up when this guy wins Nascar   ;D
http://jalopnik.com/the-dogecoin-nascar-ford-looks-incredible-1568615720

I dont agree with u.pos maybe the future but not now.
pow is still the mainstream and can be profitable.popular pos coins still need to distribute coins through or partly through pow.

Scrypt-n is bullshit, GPU is outdate

just a transition, to wipe out some miners out of the scene, there were too many really

N to many people create new sh... coins every day just to earn some quick cash.

wait for the gtx880, 5x the perf  (in theory) of the 750ti for 230w (sure it is a lot compare to asic in terms of power, but asic is limited to one algo... while with gpu you can change the algo... )
Let say gpu is dead for brain-free-multipools-mining but it isn't dead for mining.

forget X11 mining with gpu, there are already giant chinese fpga mining farms raping the ass of all profitable X11 coins

You just to have be good at recognizing what new coins are going to be profitable and then jumping in and out at the right time. Some last a while like Maxcoin, some for a very short time like Cinnicoin, but there is always an opportunity for profit.

I believe what you said is true, the profit for x11 drop a lot and seems like the difficulty keep going up. Oh man time to look for alternative..

this explain why there are plenty of monsters users in the various x11 pool with 500-600mhash

i knew something was suspicious about those megahash...

x11 coin are now prime for almost all users that I now.

Me mine dark n hiro.