Is mining still a good idea?

[Atomicat]

It should be a hobby and stay a hobby. There is no way you will get your money out of it.
The miners market is run by big time bitcoin farms now.

There are plenty of home miners mining now. Sure larger farms are slowly taking control with a diversity of proucts.
But since mining (when you have a low electricty fee) is still profitable, there is enough incentive for miners to keep on mining.

Hobby miners do have the advantage though over home.  Able to do larger amount of watts, and also most hobby use 220/240 so that is a decent advantage when getting new gear and PSU's.   A good server PSU is less then a nice ATX almost always.

Home miners do have the advantage during winter of using them to heat a house, but some miners are loud so just varies.  I think we will see more go to hobby size or very little at home.  Not sure 100 percent which way the market will go.

After some time most home miners won't be making a profit on their mining hardware and they might switch to hobby mining or quite the mining game altogether.

[j_nathan]

Don't mine if you need to pay bills with BTC

Mine if you love tech and speculate that your positioning in the ledger will result in portfolio diversification and long term financial stability

In the end its your time and money so just try to enjoy the ride, absord the good and reject the bad (know it all's)

[notlist3d]

Don't mine if you need to pay bills with BTC

Mine if you love tech and speculate that your positioning in the ledger will result in portfolio diversification and long term financial stability

In the end its your time and money so just try to enjoy the ride, absord the good and reject the bad (know it all's)

I don't know that I agree.  Are  you taking about electricity bills?  I have a sizable one every month that I need to pay or I need to get rid of old gear if it's no longer profitable.

I love mining and playing with the machines.  It's almost an addiction to me I just have to try out a lot of miners as it's so much fun.  But I also want a ROI long term.  So far I have been able to keep it going.   Hopefully that continues.

If I did it just for love I would need to scale down a lot if I was losing money compared to electricity bill.

[Wilhelmus]

If you live in a place where electricity is really cheap or free and if you can buy a second hand ASIC it may be profitable, at least until the halving but you should have reimbursed your purchase at this time.

[Amph]

Don't mine if you need to pay bills with BTC

Mine if you love tech and speculate that your positioning in the ledger will result in portfolio diversification and long term financial stability

In the end its your time and money so just try to enjoy the ride, absord the good and reject the bad (know it all's)

I don't know that I agree.  Are  you taking about electricity bills?  I have a sizable one every month that I need to pay or I need to get rid of old gear if it's no longer profitable.

I love mining and playing with the machines.  It's almost an addiction to me I just have to try out a lot of miners as it's so much fun.  But I also want a ROI long term.  So far I have been able to keep it going.   Hopefully that continues.

If I did it just for love I would need to scale down a lot if I was losing money compared to electricity bill.

not to mention that even big farm are paying their bills, so why someone should mine only with free electricity? no-sense

you can mine if your roi is fast that's it, you can make it faster by selling your asic

[Redrose]

Unless you have some sort of privilege like cheap electricity and discounted mining rigs, then not really. Some people do it for fun still though.

[gkv9]

Unless you have some sort of privilege like cheap electricity and discounted mining rigs, then not really. Some people do it for fun still though.

No one does it for fun, this is a serious thing...
Mining involves many serious factors such as the ability to run the network smoothly, and if someone does it for fun, then they are just making a fool of themselves...
Even an S7 today would let you profit in a few months before halving, and you can even get much more if the price spikes...

[winspiral]

Unless you have some sort of privilege like cheap electricity and discounted mining rigs, then not really. Some people do it for fun still though.

No one does it for fun, this is a serious thing...
Mining involves many serious factors such as the ability to run the network smoothly, and if someone does it for fun, then they are just making a fool of themselves...
Even an S7 today would let you profit in a few months before halving, and you can even get much more if the price spikes...

Sorry hurting you...i mine for fun...
why should I not?
i have fun doing "things" for fun...it is so fun (lol)
But i'm used too...
i give away satoshi for the fun...it is so strange that people take me for a scammer (lol)

[jt byte]

Unless you have some sort of privilege like cheap electricity and discounted mining rigs, then not really. Some people do it for fun still though.

No one does it for fun, this is a serious thing...
Mining involves many serious factors such as the ability to run the network smoothly, and if someone does it for fun, then they are just making a fool of themselves...
Even an S7 today would let you profit in a few months before halving, and you can even get much more if the price spikes...

Do you really think people buying outdated miners with like 100 GH are doing it for the big bucks?

No man, they want to try it and in fact mining or having miners is actually fun to do.

[Bitcoin_Delivery]

Until you haven't some miners & great electricity price, i think is not convenient to buy some hardware, but at least would be very fun.
When i could, i will buy 1 miner for sure and start trying to mine by myself

[winspiral]

Until you haven't some miners & great electricity price, i think is not convenient to buy some hardware, but at least would be very fun.
When i could, i will buy 1 miner for sure and start trying to mine by myself

Good idea or not good idea...I can a say:I have mined...and perhaps the satoshi you see...are from me (lol)

[wikenpp]

Until you haven't some miners & great electricity price, i think is not convenient to buy some hardware, but at least would be very fun.
When i could, i will buy 1 miner for sure and start trying to mine by myself

I have mined and yes it was a great experience, having 10 S3 miners mining money for me .
The poolswithing, coin switching etc.

But let's be fair too, I did not do it for the money, since there is no money to be made in bitcoin mining.

[Gaswuwade]

Unless you have some sort of privilege like cheap electricity and discounted mining rigs, then not really. Some people do it for fun still though.

No one does it for fun, this is a serious thing...
Mining involves many serious factors such as the ability to run the network smoothly, and if someone does it for fun, then they are just making a fool of themselves...
Even an S7 today would let you profit in a few months before halving, and you can even get much more if the price spikes...

I do not do it for fun. I would like to earn some thing from the mining, in the mean time, I support the network.

[notlist3d]

Unless you have some sort of privilege like cheap electricity and discounted mining rigs, then not really. Some people do it for fun still though.

No one does it for fun, this is a serious thing...
Mining involves many serious factors such as the ability to run the network smoothly, and if someone does it for fun, then they are just making a fool of themselves...
Even an S7 today would let you profit in a few months before halving, and you can even get much more if the price spikes...

I do not do it for fun. I would like to earn some thing from the mining, in the mean time, I support the network.

Bumping quite a old thread.   Not sure it's worthy if it.

I do it for fun and profit.  I enjoy mining and like messing around with different miners.   But yes I like not to lose money so I keep economics in mind aswell.  So I think best is if you do for fun and profit.  If just of them  your missing out.

[winspiral]

You can believe me or not:
I mine with an U2...
and my U2cloudmining system makes profit.

it is astonish...but it is true.
Do not think  that the satoshi i offer are taken from the air...
ok...bad people say I take them from the "paying investors"...
Each one can believe what he does want...

yes mining is funny...even if it is not profitable...but this unprofitable doing can make profit and so far it does.

And it is not only funny for me...I hope...

Total accounts:181 accounts.
Total claimed for free:0.00586208 BTC
Total invested:0.31143208 BTC
Total pending investment:0.2855269213 BTC
Total pending payout:0.0043211773 BTC
Total payout:0.03930000 BTC
Total buying:1031 times
Total selling:3 times.

And it will be more and more funny...
I remember that you can co-mine with me...
this is interesting if you want save pool fees or if you do not reach the minimum payout alone.
Think about...

I compare my U2 mining with mushrooms search...
when I do to "mushroom hunting" it cost me time...petrol for my car and often I find only one or two mushroom...(with the risk they are poisoned)(lol)

Have fun...And think about before you mine...

[notlist3d]

You can believe me or not:
I mine with an U2...
and my U2cloudmining system makes profit.

One U2 is not a cloud mining system I think most would argue.  But even if someone said it is a cloud system I don't see the profit.

How many are you saying are paying I did not understand your chart.  Also what did the ones who paid pay?

[winspiral]

You can believe me or not:
I mine with an U2...
and my U2cloudmining system makes profit.

One U2 is not a cloud mining system I think most would argue.  But even if someone said it is a cloud system I don't see the profit.

How many are you saying are paying I did not understand your chart.  Also what did the ones who paid pay?

I have never said that my U2 is my U2cloudmining system
The U2 is only  my miner.

My U2cloudmining system is the system to make profit arounf the U2 miner.
it is like if you programme a site about goldmining in ALASKA and the system is about the "profit from the site about goldmining in ALASKA"

So far the system has made nice profit...but the miner not yet...even if in the future it will make few satoshi(it made over 30000 satoshi but it has not yet reached the minimum payout)(lol)
But it does not matter because the mining production is only a little little part of income.

if people ask me about an U2...
I tell them that they have $10 to invest,
It is better to invest in my U2cloudmining system that in an U2 and mine.

[notlist3d]

You can believe me or not:
I mine with an U2...
and my U2cloudmining system makes profit.

One U2 is not a cloud mining system I think most would argue.  But even if someone said it is a cloud system I don't see the profit.

How many are you saying are paying I did not understand your chart.  Also what did the ones who paid pay?

I have never said that my U2 is my U2cloudmining system
The U2 is only  my miner.

My U2cloudmining system is the system to make profit arounf the U2 miner.
it is like if you programme a site about goldmining in ALASKA and the system is about the "profit from the site about goldmining in ALASKA"

So far the system has made nice profit...but the miner not yet...even if in the future it will make few satoshi(it made over 30000 satoshi but it has not yet reached the minimum payout)(lol)
But it does not matter because the mining production is only a little little part of income.

if people ask me about an U2...
I tell them that they have $10 to invest,
It is better to invest in my U2cloudmining system that in an U2 and mine.

I don't see you having a cloud of U2's  though.  I thought on one point of the forum you said you have 1 only, but I could be mistaken.   

How many people have you sold the 10 dollar pitch to?  Are you saying they split a U2 with other people?  That is such a tiny amount of hash for amount paid.

[winspiral]

You can believe me or not:
I mine with an U2...
and my U2cloudmining system makes profit.

One U2 is not a cloud mining system I think most would argue.  But even if someone said it is a cloud system I don't see the profit.

How many are you saying are paying I did not understand your chart.  Also what did the ones who paid pay?

I have never said that my U2 is my U2cloudmining system
The U2 is only  my miner.

My U2cloudmining system is the system to make profit arounf the U2 miner.
it is like if you programme a site about goldmining in ALASKA and the system is about the "profit from the site about goldmining in ALASKA"

So far the system has made nice profit...but the miner not yet...even if in the future it will make few satoshi(it made over 30000 satoshi but it has not yet reached the minimum payout)(lol)
But it does not matter because the mining production is only a little little part of income.

if people ask me about an U2...
I tell them that they have $10 to invest,
It is better to invest in my U2cloudmining system that in an U2 and mine.

I don't see you having a cloud of U2's  though.  I thought on one point of the forum you said you have 1 only, but I could be mistaken.   

How many people have you sold the 10 dollar pitch to?  Are you saying they split a U2 with other people?  That is such a tiny amount of hash for amount paid.

$10 is an example...
Yes it is split with other people...over 100 people so far.
The U2 is only a part of the system.
The system is the U2,but over all of course the site with its outcomes and incomes.
Each time you claim shares for free or buy them,you are a little more shareholder of the system.
My system does not exist otherwhere.
Nothing is promised in advance i can not hold.
Yes,if you invest to much,it is possible that you will never see back your investment,but you know it before you invest.
it is why I advice to claim first for free and to see how it works.
Then you can risk 0.001BTC or more or less.
if you invest less you have fix fees...1000 satoshi i believe...if my memory is good (lol)

people here are "horibilized" about my systems...
I do not understand why...they are so clear as possible to keep a "game part"
Yes it is uncommon...but why should i programme what already exist 1000 times and better?
I prefer programme new things where people can go in or not go in...for free or not for free.
People who buy shares take risk...ok
But the risk is perhaps profitable.
Some people have so far claimed for free shares worth 50000 satoshi.
They have spent time...like on other faucets...but the 50000 satoshi invested will just make more or less profit.
I believe my share system is funnier than classic faucets.
And it is fun for me to manage it.

[enquirer]

No, mining is absolutely unprofitable. The reason is, most people who buy mining equipment are unable to make basic arithmetical calculations, and buy miners at over-inflated prices, so all of them will lose money. The profitability calculators available on the net are mostly put up by miner manufacturers to mislead the public.