Is mining dead ?

[adzino]

Hi, when I got into bitcoins, people around me already told me mining is dead. BTC mining will not make you any money because the electricity fee used will be greater than the outcome. Is this true? And how can btc mining be easier again?

It is true. Your electricity cost and maintenance cost will actually give you negative profit. But if you have free or cheap electricity and if you can lower down your maintenance cost you might make profit but in small amounts.

It will even take time to ROI.

Better buy some low and try trading high for making profits. Or invest in alt coin which is much risker though.

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[hodedowe]

Or invest in alt coin which is much risker though.

Yep, because after a hard day of mining it's great to know you have 2000 shares of something you can't give away lol.

[Amph]

the best time for mine bitcoin is when the price rise, because the diff retarget is every two weeks, so in those time frame the network will actually produce more coins, and if you join it in those two week you can earn more

[Don007]

Or invest in alt coin which is much risker though.

Yep, because after a hard day of mining it's great to know you have 2000 shares of something you can't give away lol.

Ehh, what do you mean hodedowe?

Investing in altcoins is contains more risk than investing in BTC directly as;
- Altcoins are much more volatile
- Altcoins do have much less trading volume (which relates to the point mention just above)
- Rich people can buy suddently huge parts of all the mined altcoins (and thereby control the market)
- Altcoins are more likely to die as it has way less users
- Etc..

However. More volatility / more risk can also mean much more profit by investing in altcoins or short-term trading.

[notlist3d]

Or invest in alt coin which is much risker though.

Yep, because after a hard day of mining it's great to know you have 2000 shares of something you can't give away lol.

Ehh, what do you mean hodedowe?

Investing in altcoins is contains more risk than investing in BTC directly as;
- Altcoins are much more volatile
- Altcoins do have much less trading volume (which relates to the point mention just above)
- Rich people can buy suddently huge parts of all the mined altcoins (and thereby control the market)
- Altcoins are more likely to die as it has way less users
- Etc..

However. More volatility / more risk can also mean much more profit by investing in altcoins or short-term trading.

I think hes talking about pump/dump coins.  Their value can drop drastically. 

Mining is alive though .  I personally would bet on BTC over the alts.   Just provides more stability.

[ilikemandarin]

Mining is not dead.
And bitcoin is up! 

[philipma1957]

mining is alive and should stay alive. At least for the time being.

[-droid-]

mining is alive and should stay alive. At least for the time being.

especially with the price slowly creeping up

[Amph]

mining is alive and should stay alive. At least for the time being.

especially with the price slowly creeping up

it was better few days ago, where with one  s5 could give to you 0.012, now is 0.011 again, the diff will make the price increase  useless as usual

[Don007]

Mining is alive though .  I personally would bet on BTC over the alts.   Just provides more stability.

You think it's better to mine BTC directly instead of mining altcoins? Or are you talking about the future of these kinds of cryptocurrency?

I guess mining altcoins still is the better / more profitable choice than mining BTC directly. BTC has already a huge total hashrate due to the many ASICS, Scrypt coins do have much less hashrate.

[ilikemandarin]

I'm thinking to buy r9 to mine

[Don007]

I'm thinking to buy r9 to mine

Really? Please use a calculator in order to calculate your costs and (way less) income. Buying brand new GPU's in order to start mining, or even buying GPU's to start mining, is not a smart decision as GPU-mining is not likely to be profitable anymore. Unfortunately..

[notlist3d]

I'm thinking to buy r9 to mine

Really? Please use a calculator in order to calculate your costs and (way less) income. Buying brand new GPU's in order to start mining, or even buying GPU's to start mining, is not a smart decision as GPU-mining is not likely to be profitable anymore. Unfortunately..

Do ROI math but most don't even get electricity paid for when mining with GPU's.  And chances of ROI of GPU's is pretty much zero.  It is sad but it is what it is.

Look into asics.  Also what is your electricity price? This will have a lot to do with it.

[to1ga]

Electricity still be done if it's free.
Bitcoin continuously falling in very bad condition now.

[notlist3d]

Electricity still be done if it's free.
Bitcoin continuously falling in very bad condition now.

Even with free electricity I don't see a GPU making ROI.  Your talking about a decent investment.

And GPU just does not pull in what they once did.   Feel free to show some ROI math, but I dont see it recovering GPU cost anytime soon.

[-droid-]

If you mine on new gpu centric coins with a gpu and constantly pump and dump and switch coins theres still a slim chance.. but more than likely will not ROI

[Don007]

Electricity still be done if it's free.
Bitcoin continuously falling in very bad condition now.

Even with free electricity I don't see a GPU making ROI.  Your talking about a decent investment.

And GPU just does not pull in what they once did.   Feel free to show some ROI math, but I dont see it recovering GPU cost anytime soon.

Some people got stacks of (used) GPU's for different reasons. I know some people in my neightbourhood that use to buy used desktops from people. They use these (used) parts for fixing computers of other peoples (hard discs, power units, mo-bo's and sometimes also GPU's). However, in doing this, they got plenty of GPU's (as they obviously don't have to replace these parts as for examble mobo's, memory of power units).

Although these are old GPU's (with little hashrate), you still can build a decent hashrate grouping these GPU's. BUT, this is only profitable if you've got the electricity for free indeed (and even then, it's not really worth taking care of it.. or dealing with the heat).

If you mine on new gpu centric coins with a gpu and constantly pump and dump and switch coins theres still a slim chance.. but more than likely will not ROI

That's true. In fact, you should be lucky enought to mine a very new coin which becomes popular later on. That's a way in which GPU mining still can be profitable (and that's the way how I succeed to cover the costs of buying almost a whole new desktop ).

[ilikemandarin]

Maybe is the eight time to buy cheap scrypt gblade?

[Soros Shorts]

I don't know if it is profitable for most, but looking at the hashrate still increasing over time mining certainly is not dead.

http://bitcoin.sipa.be/

[QuintLeo]

No where do i see a cost analysis in a calculator like using http://www.cloudmining.website/calculator.php WITH the fees involved

 https://bitcoinwisdom.com/bitcoin/calculator is the best calculator I've found to date, with a bit of manipulation it can be made to work with "cloud mining" type services in general (though it doesn't work well directly with Hashnest PACMIC contracts, where the "profit" isn't directly related to the hash rate).