Do you think mining will be profitable again ?

[mrhelpful]

I feel like the era of mining can happen again only if several big operators stop and pause.

But other then that, the average user cant really get much.

Unless you take advantage of the paused operation you fill in the similar risk that they took, but you take it on a smaller scale.

[Amph]

they can't stop and pause, or the network will be vulnerabile, not to mention they will lose huge amount of money, even for a tiny "pause"

the only way for a casual miner to return in the mining scene and take profit, is to be ready when the price skyrocket, taking advantages of the diff retarget time

maybe this is another reason why satoshi set the diff retarget not so low

[notlist3d]

they can't stop and pause, or the network will be vulnerabile, not to mention they will lose huge amount of money, even for a tiny "pause"

the only way for a casual miner to return in the mining scene and take profit, is to be ready when the price skyrocket, taking advantages of the diff retarget time

maybe this is another reason why satoshi set the diff retarget not so low

I would agree a pause is hard.  Having all the equipment and capability to mine.... chances are you keep mining till it is no longer profitable.   

I could see underclocking and underclocking based on changes in market.  Such as high rental prices, etc.  Yes that could happen.

But total shutdown is tough for bottom line.

[mrhelpful]

Yeah, I`m aware the whole mining opertors to pause is just a hopeful thinking lol.

But, people obviously cant speculate the on price jump.

I personally just gave up mining all together have some on SP partnered cloud mining, and been just buying instead. I just feel like me selling normal items for bitcoin is also just a better route as well.

Items such as iphone 5 in bulk through a liquidation site, and fixing them.

[alh]

they can't stop and pause, or the network will be vulnerabile, not to mention they will lose huge amount of money, even for a tiny "pause"

the only way for a casual miner to return in the mining scene and take profit, is to be ready when the price skyrocket, taking advantages of the diff retarget time

maybe this is another reason why satoshi set the diff retarget not so low

I actually think we have seen a "pause" in the last few months. Not an actual stoppage of mining, but rather a pause in the crazy pace of hashrate expansion. The introduction rate of new mining hardware has slowed. It's not clear if the "Arms Race: mentality is just a temporary hold, or a long term trend.

When you think about it, what should a big farm do when they the option to buy a newer and more efficient miner? Should they just replace the gear with an equivalent number of Watts (more or less), and enjoy the increased hash rate? Or perhaps they should consider replacing their gear on a "Gigahash equivalent" basis and enjoy a lower electric bill. The downside to "More Gigahash same power" plan is that a couple of weeks later the difficulty adjustment may well dissipate a great deal of their gain they expected to acquire. If you kinda look at the whole Bitcoin mining universe, it would likely make more sense to reduce the total electric bill, and not push up the difficulty.

That's kind of a simplistic view, and not every miner will follow that plan, but it's becoming more obvious to me that efficiency is starting to become King, and in many cases not just who's got more hash.

[philipma1957]

they can't stop and pause, or the network will be vulnerabile, not to mention they will lose huge amount of money, even for a tiny "pause"

the only way for a casual miner to return in the mining scene and take profit, is to be ready when the price skyrocket, taking advantages of the diff retarget time

maybe this is another reason why satoshi set the diff retarget not so low

I actually think we have seen a "pause" in the last few months. Not an actual stoppage of mining, but rather a pause in the crazy pace of hashrate expansion. The introduction rate of new mining hardware has slowed. It's not clear if the "Arms Race: mentality is just a temporary hold, or a long term trend.

When you think about it, what should a big farm do when they the option to buy a newer and more efficient miner? Should they just replace the gear with an equivalent number of Watts (more or less), and enjoy the increased hash rate? Or perhaps they should consider replacing their gear on a "Gigahash equivalent" basis and enjoy a lower electric bill. The downside to "More Gigahash same power" plan is that a couple of weeks later the difficulty adjustment may well dissipate a great deal of their gain they expected to acquire. If you kinda look at the whole Bitcoin mining universe, it would likely make more sense to reduce the total electric bill, and not push up the difficulty.

That's kind of a simplistic view, and not every miner will follow that plan, but it's becoming more obvious to me that efficiency is starting to become King, and in many cases not just who's got more hash.

Any big farm not swapping high power  w/gh for low power w/gh  thus keeping hashpower  flat and power  cost lower is fiscally irresponsible.

I believe they finally figured this out thus flat hash rate..   

Pardon me while I pat myself on my back and toot my horn.  I must have said this since last September more then one or two or thrre or four or five or six or ?? times.
  While I would like to think my diff threads led large builders to this course of action , my ego is not that big.  I only hope they continue in this direction since they have zero need to grow hashpower faster then 1 or 2 % a jump.

[bitparadise]

Depends on what means profitable for you... It's very unlikely to be profitable like 2 years ago.
Mining cryptocurrency is still profitable if you afford to invest a lot of money.

[notlist3d]

Depends on what means profitable for you... It's very unlikely to be profitable like 2 years ago.
Mining cryptocurrency is still profitable if you afford to invest a lot of money.

With the right conditions it still can be profitable.  The main two things are electricity price and if vat/import tax.  Those can make or break home mining.

I do agree it's changed from two years ago as GPU's were pretty much on a 3 month ROI for a long time and had a awesome secondary market to sell to.

[fariselfauzi]

hello sir,
iam newbie in bitcoin hunter, i want to know deeply system of mining bitcoin, can u suggest me where i can find basic knowledge of mining?
and how a graph is growth ?
thanks

[hedgy73]

hello sir,
iam newbie in bitcoin hunter, i want to know deeply system of mining bitcoin, can u suggest me where i can find basic knowledge of mining?
and how a graph is growth ?
thanks

I suggest you do some reading the subjects have been covered plenty of times.

[philipma1957]

hello sir,
iam newbie in bitcoin hunter, i want to know deeply system of mining bitcoin, can u suggest me where i can find basic knowledge of mining?
and how a graph is growth ?
thanks

https://bitcoinwisdom.com/bitcoin/difficulty

look at the 9 month chart.

look at this list:

Difficulty History

Date   Difficulty   Change   Hash Rate
May 17 2015   48,807,487,245   2.44%   349,377,603 GH/s
May 03 2015   47,643,398,018   0.07%   341,044,727 GH/s
Apr 19 2015   47,610,564,513   -3.71%   340,809,696 GH/s
Apr 05 2015   49,446,390,688   5.84%   353,951,052 GH/s
Mar 22 2015   46,717,549,645   -1.50%   334,417,246 GH/s
Mar 08 2015   47,427,554,951   1.59%   339,499,662 GH/s
Feb 22 2015   46,684,376,317   5.01%   334,179,783 GH/s
Feb 09 2015   44,455,415,962   7.71%   318,224,263 GH/s
Jan 27 2015   41,272,873,895   -6.14%   295,442,739 GH/s
Jan 12 2015   43,971,662,056   8.20%   314,761,417 GH/s
Dec 30 2014   40,640,955,017   3.00%   290,919,288 GH/s
Dec 17 2014   39,457,671,307   -1.37%   282,449,013 GH/s
Dec 02 2014   40,007,470,271   -0.73%   286,384,627 GH/s
Nov 18 2014   40,300,030,328   1.76%   288,478,854 GH/s
Nov 05 2014   39,603,666,252   10.05%   283,494,086 GH/s
Oct 23 2014   35,985,640,265   2.81%   257,595,247 GH/s
Oct 09 2014   35,002,482,026   0.98%   250,557,526 GH/s
Sep 25 2014   34,661,425,924   16.20%   248,116,151 GH/s
Sep 13 2014   29,829,733,124   8.75%   213,529,547 GH/s
Aug 31 2014   27,428,630,902   15.03%   196,341,788 GH/s
Aug 19 2014   23,844,670,039   20.86%   170,686,797 GH/s
Aug 08 2014   19,729,645,941   5.30%   141,230,307 GH/s
Jul 25 2014   18,736,441,558   8.08%   134,120,673 GH/s
Jul 12 2014   17,336,316,979   3.08%   124,098,191 GH/s


To me this is my turning point in difficulty Adjustment,  It happened due to the end of the s-1 and the start of the s-3

The s-1 by bitmaintech was a 2 watt miner
The s-3 by bitmaintech was a .8 watt miner


Jun 29 2014   16,818,461,371   24.93%   120,391,236 GH/s
Jun 18 2014   13,462,580,115   14.51%   96,368,902 GH/s
Jun 05 2014   11,756,551,917   12.44%   84,156,677 GH/s
May 24 2014   10,455,720,138   18.10%   74,844,960 GH/s
May 12 2014   8,853,416,309   10.66%   63,375,223 GH/s
Apr 29 2014   8,000,872,136   14.64%   57,272,474 GH/s
Apr 17 2014   6,978,842,650   14.04%   49,956,502 GH/s
Apr 05 2014   6,119,726,089   22.23%   43,806,706 GH/s
Mar 24 2014   5,006,860,589   17.80%   35,840,504 GH/s
Mar 13 2014   4,250,217,920   11.39%   30,424,245 GH/s
Feb 28 2014   3,815,723,799   21.92%   27,314,015 GH/s
Feb 17 2014   3,129,573,175   19.39%   22,402,357 GH/s
Feb 05 2014   2,621,404,453   19.49%   18,764,744 GH/s
Jan 24 2014   2,193,847,870   22.59%   15,704,175 GH/s
Jan 13 2014   1,789,546,951   26.16%   12,810,076 GH/s
Jan 02 2014   1,418,481,395   20.12%   10,153,885 GH/s
Dec 21 2013   1,180,923,195   30.01%   8,453,378 GH/s
Dec 10 2013   908,350,862   28.41%   6,502,229 GH/s
Nov 29 2013   707,408,283   16.07%   5,063,826 GH/s
Nov 17 2013   609,482,680   19.29%   4,362,847 GH/s
Nov 05 2013   510,929,738   30.70%   3,657,378 GH/s
Oct 26 2013   390,928,788   46.02%   2,798,377 GH/s
Oct 16 2013   267,731,249   41.45%   1,916,495 GH/s
Oct 06 2013   189,281,249   27.19%   1,354,928 GH/s
Sep 25 2013   148,819,200   32.13%   1,065,289 GH/s

[Kyle1836]

Only with cheap or free electricity, difficulty is rising sky-high and Bitcoin prices are remaining relatively low. It's just easier to purchase Bitcoin's from a trusted exchange, mining requires not only electricity, but in the summer you must have a way to dissipate the heat.

[notlist3d]

Only with cheap or free electricity, difficulty is rising sky-high and Bitcoin prices are remaining relatively low. It's just easier to purchase Bitcoin's from a trusted exchange, mining requires not only electricity, but in the summer you must have a way to dissipate the heat.

Difficulty is actually growing at a very small rate.  A lot including me thought it would go up massivly but it's expansion has slowed down.  Not sure where you got the sky-high rising info but it is far from right.

And with decent electricity and smart mining it is possible to still ROI.   But it no longer is 3 month ROI it will  take more months to pay off gear then it once did.

[Amph]

difficulty is not even growing actually, there is an averaging decrease, looks at april we were at 5% now about 2%

now compare it with 2014 and the situation looks even better

[notlist3d]

difficulty is not even growing actually, there is an averaging decrease, looks at april we were at 5% now about 2%

now compare it with 2014 and the situation looks even better

It really is amazing comparing last year's difficulty to this year on growth.  I mean we were hitting double digit all the time.

We are in like a ping pong game of difficulty.  It goes up one week, and the next it's smacked back into negative.   Makes it nice for miners right now.  Summer would have been much harder without this trend.

[futurebit640]

The network has reached the point where only the most efficient mining hardware working in the places with the cheapest electricity , have a chance to profit

[notlist3d]

The network has reached the point where only the most efficient mining hardware working in the places with the cheapest electricity , have a chance to profit

It's all about electricity price.  If very low electricity there are some still ROI'ing on old S3 they buy used.   I have decent electricity price so I am still running some gear that is a generation old.   

The summer does add a little more challenge to keeping gear cool.   But ROIing can still and is being done by many.  Just takes the right set of circumstances.

[gallery2000]

I am still making profits with 8.73 cents per kwh.  I am using s3s and s4s and c1s

[btcjoin14]

I looked into buying a mining rig a while ago, and setting up a pool with my friends, But from what I understand the time for making money from mining has passed.

[Sniper4k]

i wish i had free power