What happened to siacoin mining profitability?

[marinko9]

I haven't been mining siacoin for a while and when I tried it today I was surprised that mining with around 2000 MH/s would give me only 4$/day!? It wasn't like before. It was much more.

Does anyone know the reason for it?

[Fbo62]

Bitmans A3 antminer (830 gb) but it will be even more bad when Halong Mining releases there 3.5 terahash (yes) siacoin miner that will not end well.

[moldovacoin]

Hello
I think was supplied  too many Bitmans A3.  =  Very high Current Difficulty
And big amount of sea coin was mined by BITMAIN company before sales. = Low  Current Price

[ggbtctalk000]

it was on negative territory.

[zorachus99]

Bitmans A3 antminer (830 gb) but it will be even more bad when Halong Mining releases there 3.5 terahash (yes) siacoin miner that will not end well.

I would mine other things and buy SC if you want SC.

[marinko9]

If Bitmain is able to push out all the GPU miners just like that for this blake2b algorithm is it then likely that they will do this for other algorithms as well and step by step push out the GPU miners from the mining?

[BitindaHouse]

Bitmans A3 antminer (830 gb) but it will be even more bad when Halong Mining releases there 3.5 terahash (yes) siacoin miner that will not end well.

he is right, his assiks killed the market of this coin, the work is such (they released-themselves extracted-the sensation was raised-earned by grandchildren-they let everything go on its own)

[AAile]

If Bitmain is able to push out all the GPU miners just like that for this blake2b algorithm is it then likely that they will do this for other algorithms as well and step by step push out the GPU miners from the mining?

Seems you are new to mining. Because that ASIC thing is happening for 5 years or more.
GPU's push up CPU's out of the game, and than ASIC's push out GPU's.
Newer coins have some sorts of protections against ASIC's, so it's safe to say there will always be something to mine with GPU's.
Ethereum is still resisting ASIC's and it's so important and popular.

[DavidStone]

To avoid problems with profitability, try to deal with some of cloud mining services. You are renting the latest technology, which guarantees maximum performance without such bullshit as you describe.

Do you have experience in mining siacoin??

[Vispilio]

I would mine other things and buy SC if you want SC.

Exactly this is great advice for GPU mining in general. There is so many algorithms and coins to choose from, there is absolutely no sense in insisting on a coin taken over by

ASIC's. Also for any coin valuing privacy and decentralization, ASIC resistance should be a top priority, and projects that don't take this into account need to be penalized.

If you really like a particular coin despite its subservience to ASIC's, then by all means just buy it on the exchange while mining something else, you will be much more profitable.

[MelisaMoris]

To avoid problems with profitability, try to deal with some of cloud mining services. You are renting the latest technology, which guarantees maximum performance without such bullshit as you describe.

Do you have experience in mining siacoin??

I mining Siacoin now and using Wattum service and began mine immediately after payment, so support works well, but it is too early to give feedback,time will show how profitable it is..

[StefaniGolf]

To avoid problems with profitability, try to deal with some of cloud mining services. You are renting the latest technology, which guarantees maximum performance without such bullshit as you describe.

Do you have experience in mining siacoin??

I mining Siacoin now and using Wattum service and began mine immediately after payment, so support works well, but it is too early to give feedback,time will show how profitable it is..

what price?

[Philopolymath]

2 big factors of Sia price drop.
ASICS mine the shit out of it and dump to recover investment before diff goes up and price goes down.

MUCH BIGGER REASON asic miners dump...is it is a shit coin.
Sia price dropped because of shit wallet and exchange problems and more problems with it's main role as storage and contracts

[CryptoDocker]

Did the Obelisk SC1 even get released? Cant remember seeing one in the wild

[induktor]

BITMAIN happens, another algo destroyed by this company.

[abstractHaze]

i mean. i think u need to read up on sia. once they ruined their relations with there own miner. it was pretty clear that there tech doesn't work, and this is a scam. better pull out while it's still worth a penny.  decentralized storage for privacy doesn't exist as long as u connect to an isp. it's a complete joke of a chain. they said asics would take the cost to 10c vs amazons 1 dollar for storage.. well the asic's came out. their own asic's are doorstops before u get them and they are not proving themselves in anything they set out. it's a joke.

[ikicha]

You need to know about difficulty
High network hashrate = high difficulty.
High network hashrate = Low reward
Asic distribution = High Network hashrate
New asic with high hashrate = Extremely high network hashrate

Hahaha. Welcome to asic Manufacturer game

[adaseb]

This coin brings back memories.

I remember last June you could make more dual mining SC than you can solo mining any coin right now.

When SC was being pumped I remember each RX 470 pulled in $1-2/day extra just on that coin. Plus another $5/day on ETH.

Sure miss those days. Thanks ASICs and Bitmain.

[swirox]

company started to make miners to mine siacoin so its less profitable now

[toptek12]

What happened to siacoin mining profitability?

S11 miner by innosilicon who are worse then bitmian,an sneaker.
http://www.innosilicon.com/html/s11-miner/index.html

it's looking like there gonna be the next bitmain here are all the miners they sell .

http://www.innosilicon.com/html/product/index.html