Is mining dead ?

[Hannu]

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?

Hello,

Really! Mining is not profitable. Same they say to me. Its nice hobby but nothing else. 

[notlist3d]

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?

Hello,

Really! Mining is not profitable. Same they say to me. Its nice hobby but nothing else. 

Mining is not one size fit's all.  With things such as electricity and Vat.  It's just very different for each person.

In my case I am able to mine profitable.   I consider myself a "hobby miner"   not a "home miner".  I think its in between home and full out living from BTC.    But it really is not dead and has lots of life currently.

[matrix zion]

Not worth it IMO, You will likely not make a profit, and maybe not even break even because of the difficulty rises

[YuginKadoya]

Not worth it IMO, You will likely not make a profit, and maybe not even break even because of the difficulty rises

How can you say that? in mining difficulty always comes first, before you profit in these industry you will face lots of hardships before obtaining the BTC that you desire! many miner now a days is very persistent and has a no surrender attitude, and has earn lots and lots in mining, I don't believe that mining is dead.

[Raimonn]

Minning isn't dead. But you will not make money with an usb miner at your home. You can be minning some satoshis at your home but as a hobby.
Minning now is more professional, big minning companies with lot of new designed miners and small electricity prices. If you want to be successful in mining against these big groups you will need a lot of money to invest buying the best miners and you will need a very few electricity price.

[notlist3d]

Minning isn't dead. But you will not make money with an usb miner at your home. You can be minning some satoshis at your home but as a hobby.
Minning now is more professional, big minning companies with lot of new designed miners and small electricity prices. If you want to be successful in mining against these big groups you will need a lot of money to invest buying the best miners and you will need a very few electricity price.

It is far from dead but USB stick miners have a cost that will not ROI in most cases.  It just costs quite a bit to produce it and they have smaller hashing speed then a bigger unit.

You need decent electricity but yes many can still mine.  Heck price has even been going up so its easier for some.

[knowhow]

The big fact is who were at bitcoin mining on the start made some good income and most had roi on that time,nowadays the roi is hard to achieve but,not impossible as bitcoin keeps getting more value,and well it should keep growing slowly.Soo mine now can be a small profir or return montly,but on the next months or years it can turn into the roi thats why bitcoin has soo many interest on it.

[notlist3d]

The big fact is who were at bitcoin mining on the start made some good income and most had roi on that time,nowadays the roi is hard to achieve but,not impossible as bitcoin keeps getting more value,and well it should keep growing slowly.Soo mine now can be a small profir or return montly,but on the next months or years it can turn into the roi thats why bitcoin has soo many interest on it.

Keep in mind selling rig in the end.  A lot don't consider this in ROI.  So technically if you get enough to pay off rig and sell you get a decent profit most of time.  But yest it takes certain electricity pricing.

Mining is far from dead though.

[knowhow]

The big fact is who were at bitcoin mining on the start made some good income and most had roi on that time,nowadays the roi is hard to achieve but,not impossible as bitcoin keeps getting more value,and well it should keep growing slowly.Soo mine now can be a small profir or return montly,but on the next months or years it can turn into the roi thats why bitcoin has soo many interest on it.

Keep in mind selling rig in the end.  A lot don't consider this in ROI.  So technically if you get enough to pay off rig and sell you get a decent profit most of time.  But yest it takes certain electricity pricing.

Mining is far from dead though.

Well most miners has just turned off their miners,they dont wanna to sell them ,are waiting a bigger value of bitcoin to return ,soo they only consider btc spend on the equipment,i had spent 10btc on a rig and i had earned 4 btc till the moment,just and example.I dont know how easy is to sell a miner to other person,did you sold some equipment or know someone doing it?

[notlist3d]

The big fact is who were at bitcoin mining on the start made some good income and most had roi on that time,nowadays the roi is hard to achieve but,not impossible as bitcoin keeps getting more value,and well it should keep growing slowly.Soo mine now can be a small profir or return montly,but on the next months or years it can turn into the roi thats why bitcoin has soo many interest on it.

Keep in mind selling rig in the end.  A lot don't consider this in ROI.  So technically if you get enough to pay off rig and sell you get a decent profit most of time.  But yest it takes certain electricity pricing.

Mining is far from dead though.

Well most miners has just turned off their miners,they dont wanna to sell them ,are waiting a bigger value of bitcoin to return ,soo they only consider btc spend on the equipment,i had spent 10btc on a rig and i had earned 4 btc till the moment,just and example.I dont know how easy is to sell a miner to other person,did you sold some equipment or know someone doing it?

For most miners I think you are wrong on just turning off on big miners.  People are selling to gain more money.... there is a entire sub thread to selling hardware on this forum.  Or look at ebay on completed auctions.

Most miners sell when it no longer makes sense to mine with it.   Depending on miner some hold a pretty good value even 2nd hand.  I have been doing it since my GPU day's.  Sold GPU's went into asics.  Have sold every asic when I feel it makes more off of sale then me running it.   I do lots of math to see what is best. 

Honestly look into it on ebay on sold miners you will be surprised the number that are being sold.  It is very common at this point.

[DrG]

We can say mining is a kind off dead now as now most of the btc dont want to invest money on. Asiic miners and waste money on bills... So slowly slowly miners are packing up from mining

Individual distributed miners yes.  The conglomerates are continuing to amass given the 50% growth we've seen over the past couple of months.

[VirosaGITS]

We can say mining is a kind off dead now as now most of the btc dont want to invest money on. Asiic miners and waste money on bills... So slowly slowly miners are packing up from mining

Individual distributed miners yes.  The conglomerates are continuing to amass given the 50% growth we've seen over the past couple of months.

I'm earning just fine, the key is just having cheap electricity, under 0.04$/kWh really make it a completely different games for home miners.

Of course the biggest growth will be in data centers, but also home miners that decide to man up and get into this new thing called "Bitcoin" when they realize they could make bank because they pay 0.02-0.04$/kWh.

[notlist3d]

We can say mining is a kind off dead now as now most of the btc dont want to invest money on. Asiic miners and waste money on bills... So slowly slowly miners are packing up from mining

Individual distributed miners yes.  The conglomerates are continuing to amass given the 50% growth we've seen over the past couple of months.

I'm earning just fine, the key is just having cheap electricity, under 0.04$/kWh really make it a completely different games for home miners.

Of course the biggest growth will be in data centers, but also home miners that decide to man up and get into this new thing called "Bitcoin" when they realize they could make bank because they pay 0.02-0.04$/kWh.

It is also done with pretty smart investing by some people.   The top few datacenters we have seen pictures of they knew what they are doing.  It is high risk and high reward.

We have all seen pictures of that one center full of SP gear after fire.   So we can't say all were as smart or as lucky.  I can't fault these big companies.

But home mining and hobby mining are still alive.  I'm still doing it.  Some with high electricity or rediclous vat have been pushed out... but there is not much you can do with a free market to prevent that.  And there is always data centers for some.

[Tmdz]

Im one of the new people entering this game, at this time im really just playing around with the technology and learning about btc.  But mining is far from dead and many people can make a few extra bucks if their smart enough.  Trading your mined btc to individuals can net a decent profit which for people with higher rates can offset the electricity rates.  Mining is the easy part, it brings btc into your wallet with basically no effort, its what you do with those credits that further determines how successful this currency can be for you.

[Amph]

We can say mining is a kind off dead now as now most of the btc dont want to invest money on. Asiic miners and waste money on bills... So slowly slowly miners are packing up from mining

Individual distributed miners yes.  The conglomerates are continuing to amass given the 50% growth we've seen over the past couple of months.

I'm earning just fine, the key is just having cheap electricity, under 0.04$/kWh really make it a completely different games for home miners.

Of course the biggest growth will be in data centers, but also home miners that decide to man up and get into this new thing called "Bitcoin" when they realize they could make bank because they pay 0.02-0.04$/kWh.

if they culd provide a cheap cloud , more cheap that hashnest, many miners could actually join the network, but with the maintanance fee their result is above 0.05, it's like you pay 0.1

because if it were 0.05 the roi would be 6 months

[notlist3d]

We can say mining is a kind off dead now as now most of the btc dont want to invest money on. Asiic miners and waste money on bills... So slowly slowly miners are packing up from mining

Individual distributed miners yes.  The conglomerates are continuing to amass given the 50% growth we've seen over the past couple of months.

I'm earning just fine, the key is just having cheap electricity, under 0.04$/kWh really make it a completely different games for home miners.

Of course the biggest growth will be in data centers, but also home miners that decide to man up and get into this new thing called "Bitcoin" when they realize they could make bank because they pay 0.02-0.04$/kWh.

if they culd porvide a cheap cloud , more cheap that hashnest, many miners could actually join the network, but with the maintanance fee their result is above 0.05, it's like you pay 0.1

because if it were 0.05 the roi would be 6 months

I'm hoping having brings some of the hosting centers down a little.   Not sure if they will but I will keep hoping on it.

Not sure what will happen at having really.  Will be interesting.

[VirosaGITS]

We can say mining is a kind off dead now as now most of the btc dont want to invest money on. Asiic miners and waste money on bills... So slowly slowly miners are packing up from mining

Individual distributed miners yes.  The conglomerates are continuing to amass given the 50% growth we've seen over the past couple of months.

I'm earning just fine, the key is just having cheap electricity, under 0.04$/kWh really make it a completely different games for home miners.

Of course the biggest growth will be in data centers, but also home miners that decide to man up and get into this new thing called "Bitcoin" when they realize they could make bank because they pay 0.02-0.04$/kWh.

if they culd porvide a cheap cloud , more cheap that hashnest, many miners could actually join the network, but with the maintanance fee their result is above 0.05, it's like you pay 0.1

because if it were 0.05 the roi would be 6 months

I'm hoping having brings some of the hosting centers down a little.   Not sure if they will but I will keep hoping on it.

Not sure what will happen at having really.  Will be interesting.

They could provide for cloud, but i don't really get it. I'd rather just mine it myself, if i have that much cheap electricity, having to deal with customers, questions, configuration, shipping out miners, egh, sound like a pain.

I'd just grab all the S3's i could and sometimes S5's and enjoy the high turnover and short ROI.

The way cloud mining is setup, it sound like they just make their ToS into a miner trap. Like Bitmain's 50$ per unit handling of the unit + shipping, tend to make people leave their units there and no claim them.

Look at the prices of S3.

[notlist3d]

We can say mining is a kind off dead now as now most of the btc dont want to invest money on. Asiic miners and waste money on bills... So slowly slowly miners are packing up from mining

Individual distributed miners yes.  The conglomerates are continuing to amass given the 50% growth we've seen over the past couple of months.

I'm earning just fine, the key is just having cheap electricity, under 0.04$/kWh really make it a completely different games for home miners.

Of course the biggest growth will be in data centers, but also home miners that decide to man up and get into this new thing called "Bitcoin" when they realize they could make bank because they pay 0.02-0.04$/kWh.

if they culd porvide a cheap cloud , more cheap that hashnest, many miners could actually join the network, but with the maintanance fee their result is above 0.05, it's like you pay 0.1

because if it were 0.05 the roi would be 6 months

I'm hoping having brings some of the hosting centers down a little.   Not sure if they will but I will keep hoping on it.

Not sure what will happen at having really.  Will be interesting.

They could provide for cloud, but i don't really get it. I'd rather just mine it myself, if i have that much cheap electricity, having to deal with customers, questions, configuration, shipping out miners, egh, sound like a pain.

I'd just grab all the S3's i could and sometimes S5's and enjoy the high turnover and short ROI.

The way cloud mining is setup, it sound like they just make their ToS into a miner trap. Like Bitmain's 50$ per unit handling of the unit + shipping, tend to make people leave their units there and no claim them.

Look at the prices of S3.

I would rather mine with hardware as I enjoy playing with it myself.  But if someone would hit my magic number .05 cents I might send them some miners to host for me (assuming it is well known data center).

But it would take me a that number and no vat.  And I would try it slowly.  Not jump in all at once there.  As testing out is big.

[zodiac3011]

In my opinion, Mining bitcoin? yes it is dead unless you are a millionaire want to find something interesting to do in your free time by buying some huge machines for mining bitcoin. However mining altcoin is not dead yet and it will never be. There are a bunch of new coin everyday try to mine some and be the first one to dump it. This way you will be the winner. On the other hand, If you don't really want to mine alternate coin, try to sell contracts or get some customers on miningrentals... You may able to get some easily I think

[notlist3d]

In my opinion, Mining bitcoin? yes it is dead unless you are a millionaire want to find something interesting to do in your free time by buying some huge machines for mining bitcoin. However mining altcoin is not dead yet and it will never be. There are a bunch of new coin everyday try to mine some and be the first one to dump it. This way you will be the winner. On the other hand, If you don't really want to mine alternate coin, try to sell contracts or get some customers on miningrentals... You may able to get some easily I think

Alt coin mining is a hard game so much puump/dump.   I also think less people rent MRR then they use to.  A lot tend to use nicehash which pay is low a lot of the time. 

You need to look into BTC mining more.   It is far from dead, and only dead if high electricity or high vat.