STOP Mining Bitcoin - It's DEAD

[arthurzee]

Curious what you Guys think,

A number of currencies seem to have accelerated their developments recently, and it became apparent that they are much more usable than Bitcoin.

Of course, Bitcoin still stands as the most "hack-proof" network, with the largest community, however arguably, that's about it.

I've seen some BTC miners waking up recently, since due to price increase, it became profitable again to actually mine Bitcoin.

I am wondering, once genuinely another crypto wins over the market acceptance when it comes to payments, what are the realistic chances of Bitcoin staying above $15,000, maintaining Bitcoin's mining profitability?

I am about to order 10 x S9 antiminers for Bitcoin, and looking at things from the pragmatic point of view, I am debating as to whether it's better to get GPU mining mashines for AltCoins or S9s ..

appreciate the comments,
Arthurzee

[minersday]

Do it, if you feel confortable about buying GPU's instead of S9 or just antminers, then do it.

You should know that the demand for both devices is HUGE, it is going to be difficult to get a bunch of GPU's worth of the same value of 10 S9.

And yes, altcoins are more profitable, you should know that everytime that you want to move your bitcoins you need to pay $40 worth of fees (aproximately)

If you have 10 s9, this could be aproximately 7 hours of mining without counting how much money do you need to pay for the electricity.

And if you mine altcoins, it will cost you no more than one dollar per movement.

I am about to order 10 x S9 antiminers for Bitcoin, and looking at things from the pragmatic point of view, I am debating as to whether it's better to get GPU mining mashines for AltCoins or S9s ..

[BitCoinKeeper]

Curious what you Guys think,

A number of currencies seem to have accelerated their developments recently, and it became apparent that they are much more usable than Bitcoin.

Of course, Bitcoin still stands as the most "hack-proof" network, with the largest community, however arguably, that's about it.

I've seen some BTC miners waking up recently, since due to price increase, it became profitable again to actually mine Bitcoin.

I am wondering, once genuinely another crypto wins over the market acceptance when it comes to payments, what are the realistic chances of Bitcoin staying above $15,000, maintaining Bitcoin's mining profitability?

I am about to order 10 x S9 antiminers for Bitcoin, and looking at things from the pragmatic point of view, I am debating as to whether it's better to get GPU mining mashines for AltCoins or S9s ..

appreciate the comments,
Arthurzee

Once again Bitcoin declared as dead....lol

https://99bitcoins.com/bitcoinobituaries/

[RamonBTC]

Once again Bitcoin declared as dead....lol

https://99bitcoins.com/bitcoinobituaries/

The funniest thing is that I can’t even remembered how many time bitcoin been declared “Dead” and for sure if this expert or license professionals in this field like a medical doctors do this, they’re licensed would have been revoked a long time ago. Speculative mindset is normal but to have it purposely wrong due to self interest all time is a sign of mental abnormalities on my opinion.

[Sukut]

Okay, I just stopped it all just because a newbie with 1 post said so.

[stompix]

I am wondering, once genuinely another crypto wins over the market acceptance when it comes to payments, what are the realistic chances of Bitcoin staying above $15,000, maintaining Bitcoin's mining profitability?

Bitcoin difficulty has grown 5 times since January.
In January price was around 1000$.

Simple math and you will understand that miners ill still make the same profit they were making in January even if Bitcoin drops to 6000$.
But since the price is 2.5 that it means it is a lot more profitable.

Remember that is not just 2.5 in profit,  it's 2.5 in REVENUE with same costs.
So if in January you were making  100$ and spent 90$ on power , now you make 250$ and spend the same in power.
10>160.


But why do I bother explaining this to somebody claiming bitcoin is dead again?
At least I have the hope of somebody reading this and not starting another thread.

[shield132]

I am wondering, once genuinely another crypto wins over the market acceptance when it comes to payments, what are the realistic chances of Bitcoin staying above $15,000, maintaining Bitcoin's mining profitability?

Bitcoin difficulty has grown 5 times since January.
In January price was around 1000$.

Simple math and you will understand that miners ill still make the same profit they were making in January even if Bitcoin drops to 6000$.
But since the price is 2.5 that it means it is a lot more profitable.

Remember that is not just 2.5 in profit,  it's 2.5 in REVENUE with same costs.
So if in January you were making  100$ and spent 90$ on power , now you make 250$ and spend the same in power.
10>160.


But why do I bother explaining this to somebody claiming bitcoin is dead again?
At least I have the hope of somebody reading this and not starting another thread.

Can't understand why do you need to use any math to explain this situation? Price has gone 18x more and it make possible to have 18x more profit. Can you find any antminer on bitmain's shop? No because people has bought them. What was their price in past? more than 1000$ if I remember correctly and how much is it now? 10 000k. If you buy it now, then your profit won't be different from profit when price was 1000$ (because you invested much now). Otherwise old miners make excelent profit.

[katinko]

I am continue holding my bitcoin because i believed that after this dump of value it will rise nore than we expect, also our mining of bitcoin will continue to run since for now value is high for me and i already made money in bitcoin i tell to my partner that dont be too panic because it will not be dead bitcoin makes a way to get back investors and demand will increase together with its value.

[bitcub]

Bitcoin is too mainstream how about investing in Bitcoin blockchain alternatives? Like IOTA? Someday when crypto becomes a normal payment gateway.  People will demand for more faster transactions which blockchain has a limitation. We need a system that can handle very huge transactions with scalling features that only IOTA can provide.

Curious what you Guys think,

A number of currencies seem to have accelerated their developments recently, and it became apparent that they are much more usable than Bitcoin.

Of course, Bitcoin still stands as the most "hack-proof" network, with the largest community, however arguably, that's about it.

I've seen some BTC miners waking up recently, since due to price increase, it became profitable again to actually mine Bitcoin.

I am wondering, once genuinely another crypto wins over the market acceptance when it comes to payments, what are the realistic chances of Bitcoin staying above $15,000, maintaining Bitcoin's mining profitability?

I am about to order 10 x S9 antiminers for Bitcoin, and looking at things from the pragmatic point of view, I am debating as to whether it's better to get GPU mining mashines for AltCoins or S9s ..

appreciate the comments,
Arthurzee

[filharvey]

I am wondering, once genuinely another crypto wins over the market acceptance when it comes to payments, what are the realistic chances of Bitcoin staying above $15,000, maintaining Bitcoin's mining profitability?

Bitcoin difficulty has grown 5 times since January.
In January price was around 1000$.

Simple math and you will understand that miners ill still make the same profit they were making in January even if Bitcoin drops to 6000$.
But since the price is 2.5 that it means it is a lot more profitable.

Remember that is not just 2.5 in profit,  it's 2.5 in REVENUE with same costs.
So if in January you were making  100$ and spent 90$ on power , now you make 250$ and spend the same in power.
10>160.


But why do I bother explaining this to somebody claiming bitcoin is dead again?
At least I have the hope of somebody reading this and not starting another thread.

Exactly.Bitcoin price has increased tremendously while the electricity charge remains the same.Just simple calculation.

I think that nowadays many people are just opening a newbie account to just criticize bitcoin.They have no other motive.

We have already seen obituary of bitcoin a hundred times in the internet.I think that mining altcoins will not equal as mining bitcoin.There is no guarantee about the rise in altcoin pieces when compared to bitcoin.

[kalakabgr]

I would like to know which is the best for now, I was planning to order some used miners on Ebay... but now I'd have to think twice about this.

[xbl1008]

If you are referring to bitcoins being death, then you got a really bitter taste sir because industries that involves digital currencies is only just starting and no one can stop it because this is something associated with technological advancement, maybe mining is really hard right now but this is something that is decided by the one who is mining bitcoins if they will take the risk and join the fray

[Dreamchaser21]

Bitcoin is not dead, people are just trying to really dump bitcoin so they can buy more of it at a lower price. I still hold my bitcoin and continue buying more bitcoin because it will bounce back stronger than before.