I cant believe you guys convinced the noob that he can make money mining right now.
LOL Atleast show him how to do a proper calculation.
Hey OP, newsflash for you, you're competing with +80% of the network that only pays <7c/kwHr
I sent him my spreadsheet. He has the modeling tool to run various scenarios.
I've modeled on in a few different scenarios. Seems that I'm always chasing my tail. I can make money but not at the level I would want. And just before it starts to decline I would need to buy more miners to stay afloat.
But then I say to myself that someone is mining, yeah the boys with unlimited resources.
I saw this today and shit my drawers:
Inside a Chinese Bitcoin MineThen this guy with his solo act:
https://www.youtube.com/watch?v=ELA91d_mx80 - I've seen this before.
None of them are "solo"
They got the capital from ppl like you who buy their mining hardware which then fund their mining farm. Lots of ppl cant wrap around this simple concept...
Ppl say they sell because mining is too risky and they can make more money to sell.... well its only half truth.
To be able to stay ahead of the game, they need large capital to start a mining farm that use the best electrical rate (2-5c/kwHr) Small miners have no chance to compete, at best you just wish for a break-even. They COMPETE with their own customers! Remember that as their farms are going up, they're pushing their customers out of the mining game (most small miners can only get 10c/kwHr at best). Its a no risk to them.
Put your effort into something else (services) to have income, and buy btc and hold will gain you furthest.
Mining game isnt for hobby or small business venture, its for the big boys. I say let them find capital elseswhere and not sucking us in for a free-risk capital funding.
