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Author Topic: Why are much people mining with less than 100 Mh/s ???  (Read 3673 times)
BombaUcigasa
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June 28, 2011, 02:28:14 AM
 #21

My posts (above) were *strictly* and exclusively talking about CPU mining at a loss
Oh, I see... let me check the data on my E7300...
- not using my CPU on my miner: 0 BTC/day, 0$ in energy/day
- using my CPU on my miner: 0.004 BTC/day, $0.073 in energy/day

So if i mine now and sell my btc at $17, I get $0.068 while I pay $0.073. But hey, someone told me on the forums that next month the bitcoin can get to $50. I think it was YOU. Well in that case, the bitcents I mined at a loss, suddenly give me a back profit of say $0.13/day.

Should I mine on my CPU or not?
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AngelusWebDesign
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June 28, 2011, 04:01:27 AM
 #22

My posts (above) were *strictly* and exclusively talking about CPU mining at a loss
Oh, I see... let me check the data on my E7300...
- not using my CPU on my miner: 0 BTC/day, 0$ in energy/day
- using my CPU on my miner: 0.004 BTC/day, $0.073 in energy/day

So if i mine now and sell my btc at $17, I get $0.068 while I pay $0.073. But hey, someone told me on the forums that next month the bitcoin can get to $50. I think it was YOU. Well in that case, the bitcents I mined at a loss, suddenly give me a back profit of say $0.13/day.

Should I mine on my CPU or not?

What you're basically saying: "Who cares if I lose a few dollars, if I make 50 dollars through a massive BTC price increase the next month."

I say: "Why lose those few dollars? -- save your few dollars, so that you make *53 dollars* instead of 50 when the Price Increase happens. Why lose some money on purpose, hoping to offset it with big profits later?"

That's bad business sense.

1. I never said BTC would be $50 next month. Anything is possible, but I don't think $50 BTC next month is likely at all.
2. I don't think it's smart to CPU mine if you're losing *anything* compared to buying outright. That's true for any given day.
3. You are advised to re-calculate from time to time if anything has changed. If difficulty decreases and/or the price of BTC rises enough (so that CPU mining becomes profitable again) then by all means CPU mine to your hearts' content.

I used to CPU mine myself, up till recently when it crossed the red line into negative territory.
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