Why are people so negative about mining? Stop it...

[.F.]

I'm tired of hearing so much negativity when it comes to mining bitcoin and alts. For the Antminers, in particular, people continue to say that they don't produce a "ROI". That's just so much BS and FUD spreading...STOP IT!

I've done a ton of research on bitcoin and litecoin mining (using ltcwisdom.net) and even with serious increases to difficulty on a weekly basis (based on average increases) and, again, assuming the price of the coins don't drop extensively, you can BREAKEVEN (stop saying "ROI" when you mean BE by the way...you can have a negative ROI...so when you say "you won't ROI" that doesn't make sense) in 7-9 months on a L3+. That's worst case scenario. Best case is 4-5 months breakeven. Then, after that, it's ALL PROFIT. What is so bad about that if you have 15 machines? So you wait 4-5 months until it's paid back. And yes, maybe you're not making as much as when you first got the machines due to difficulty but you're sitting on passive income.

Same thing goes for the A3....oh boo hoo you're not making $500/day. Boo hoo you're not making $50/day. Even making $10-15/day when the machine costs $1,000 is worth it assuming you can get for a month or two. Even if you only get that rate for a month, you're paying off at least 50% -75% of your investment. That's the risk you take....

So please stop spreading FUD - we know you just don't want competition...too bad.

End Rant.

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[BitBustah]

My 2.6k rig (1080 ti, 1080, 1080, 1070) brings in 6 euros a day. That's ROI (or BE or whatever you want to call it) of 416,6666666666667 days. Without talking about the electricity costs - how high or low they may be.

I can't really be positive about those numbers. Don't know what planet you live on, but mining conditions at this time -and we are ALL in it for the money, even those who say they are not- are terrible.

[.F.]

My 2.6k rig (1080 ti, 1080, 1080, 1070) brings in 6 euros a day. That's ROI (or BE or whatever you want to call it) of 416,6666666666667 days. Without talking about the electricity costs - how high or low they may be.

I can't really be positive about those numbers. Don't know what planet you live on, but mining conditions at this time -and we are ALL in it for the money, even those who say they are not- are terrible.

I'm talking ASICs...

[BitBustah]

My 2.6k rig (1080 ti, 1080, 1080, 1070) brings in 6 euros a day. That's ROI (or BE or whatever you want to call it) of 416,6666666666667 days. Without talking about the electricity costs - how high or low they may be.

I can't really be positive about those numbers. Don't know what planet you live on, but mining conditions at this time -and we are ALL in it for the money, even those who say they are not- are terrible.

Are you stupid for mining with all GPUs??? I'm talking ASICs genius...

Don't call me dumb when you admit you'll never breakeven

I was speaking theoretically. I BE last year. Now I'm in the what you call the "ALL PROFIT" zone.. Pretty crappy.
That's why I'm so negative about mining. And I'm not the only one here.

[dhouse]

what i dont really get is why someone who is negative about mining in general would read a mining forum 

[.F.]

what i dont really get is why someone who is negative about mining in general would read a mining forum 

I know right?! Makes no sense...it's all FUD mongers...I'm tired of it.

I'm in VC and invest in startups...I get the risk vs reward idea.

[thesavoyard]

1. Buying and holding has traditionally been more profitable than mining.

2. Everyone who bought during the craze is about to become obsolete as a new generation of Nvidia cards come out and put them in negative profitability.

3. ASICs suck and so do ASIC coins, why would you launch a coin without ASIC resistant code??? Centralization, market manipulation, exclusiveness. If you're into that you need to GTFO, ASICs are cancer.

4. When Ethereum goes POS if you haven't sold your GPUs your screwed. Ether refugees will drive profits through the floor.

5. POW isn't going to win.

[Digital Drug Lord]

4. When Ethereum goes POS if you haven't sold your GPUs your screwed. Ether refugees will drive profits through the floor.

5. POW isn't going to win.

well you dont know if another ethereum like coin will come out

[.F.]

1. Buying and holding has traditionally been more profitable than mining.

2. Everyone who bought during the craze is about to become obsolete as a new generation of Nvidia cards come out and put them in negative profitability.

3. ASICs suck and so do ASIC coins, why would you launch a coin without ASIC resistant code??? Centralization, market manipulation, exclusiveness. If you're into that you need to GTFO, ASICs are cancer.

4. When Ethereum goes POS if you haven't sold your GPUs your screwed. Ether refugees will drive profits through the floor.

5. POW isn't going to win.

Good moral/ideology points but still waiting for the financial analysis proving me wrong on Antminer ASICs (specifically L3+ purchases).

Buying and holding seems to be riskier use of proceeds - at least with mining you have hardware and could potentially resale if price drops or a new version comes out.

I hear rumors that S9's will become obsolete this summer with new releases, so I agree that going all in on S9's right now probably not a great idea given the $2,600 price point.

[Vann]

1. Buying and holding has traditionally been more profitable than mining.

2. Everyone who bought during the craze is about to become obsolete as a new generation of Nvidia cards come out and put them in negative profitability.

If you buy the right coins at the right time. GPU mining is a hedge against a market downturn, in that your ongoing costs are essentially the same for any coin and your cost per coin is less than the market value of those coins. My HD 7850 from 2014 is still mining and profitable.

Mining profits are currently about what they are historically. What is terrible are the prices to startup a rig compared to what they were 2 months ago.

[Jamyye]

My 2.6k rig (1080 ti, 1080, 1080, 1070) brings in 6 euros a day. That's ROI (or BE or whatever you want to call it) of 416,6666666666667 days. Without talking about the electricity costs - how high or low they may be.

I can't really be positive about those numbers. Don't know what planet you live on, but mining conditions at this time -and we are ALL in it for the money, even those who say they are not- are terrible.


https://memegenerator.net/img/instances/53599267/are-you-stupid-or-something.jpg

That's at the current price of whatever currency you are mining. (ETH?) I am betting on ETH to be over 4k within a year or two.

[un4given]

My 2.6k rig (1080 ti, 1080, 1080, 1070) brings in 6 euros a day. That's ROI (or BE or whatever you want to call it) of 416,6666666666667 days. Without talking about the electricity costs - how high or low they may be.

I can't really be positive about those numbers. Don't know what planet you live on, but mining conditions at this time -and we are ALL in it for the money, even those who say they are not- are terrible.

u r mining the wrong coin. with your setup you should be doing 15€ net per day...research a little bit before calling ppl stupid...

[Faddooy]

I honestly don't think mining isn't profitable. I had a GTX 950 lying around, and now I'm making 1.5 dollar a day mining ZEC. I definitely did think mining was a waste when I was mining monero though. The pool I was using had a threshold of .5 monero, and a week into mining the diff started rising dramatically. Fast forward 2 months later, I had 50 bucks that I cannot cash out But on nano pool the threshold is .01 ZEC, so definitely I'm a happy miner, even though the income isn't huge. Atlas it pays for my WIFI and electric and some of my water

[fanatic26]

1. Buying and holding has traditionally been more profitable than mining.
This is not true at all, do a little research
2. Everyone who bought during the craze is about to become obsolete as a new generation of Nvidia cards come out and put them in negative profitability.
Just because a new generation comes out, it doesnt make older gen cards obsolete. I am still profiting on R9 cards that are 2 generations behind
3. ASICs suck and so do ASIC coins, why would you launch a coin without ASIC resistant code??? Centralization, market manipulation, exclusiveness. If you're into that you need to GTFO, ASICs are cancer.
There is no other responses needed other than this is pure ignorance.
4. When Ethereum goes POS if you haven't sold your GPUs your screwed. Ether refugees will drive profits through the floor.
More uninformed FUD. Ethereum wont be going full POS for YEARS.
5. POW isn't going to win.
Except it already has.

So many people make these claims without any clue as to what they are talking about. Its amazing the amount of disinformation you can find on these forums.

[Metroid]

Cause people are stupid, paying $1000 for a rx 580 is beyond stupid, they will never get their money back and resellers will keep the price high cause there are idiots paying what they want.

[Digital Drug Lord]

Cause people are stupid, paying $1000 for a rx 580 is beyond stupid, they will never get their money back and resellers will keep the price high cause there are idiots paying what they want.

I paid $1000 for my water cooled 1080ti with a 4 year warranty... im glad i dont have to worry until the year 2022.....

bitcoin needs to go over $17,000 to indicate a bull market so HODL

[Elder III]

Some people F.U.D. in order to try to discourage other potential miners from joining and driving up the difficulty. Other's are just ill tempered in general or trolls without anything else to invest effort into.

Then again some people are legitimately irked at the "get rich quick" influx of new miners during the big profitability spike at the end of 2017.

[Laodungchun]

I'm tired of hearing so much negativity when it comes to mining bitcoin and alts. For the Antminers, in particular, people continue to say that they don't produce a "ROI". That's just so much BS and FUD spreading...STOP IT!

I've done a ton of research on bitcoin and litecoin mining (using ltcwisdom.net) and even with serious increases to difficulty on a weekly basis (based on average increases) and, again, assuming the price of the coins don't drop extensively, you can BREAKEVEN (stop saying "ROI" when you mean BE by the way...you can have a negative ROI...so when you say "you won't ROI" that doesn't make sense) in 7-9 months on a L3+. That's worst case scenario. Best case is 4-5 months breakeven. Then, after that, it's ALL PROFIT. What is so bad about that if you have 15 machines? So you wait 4-5 months until it's paid back. And yes, maybe you're not making as much as when you first got the machines due to difficulty but you're sitting on passive income.

Same thing goes for the A3....oh boo hoo you're not making $500/day. Boo hoo you're not making $50/day. Even making $10-15/day when the machine costs $1,000 is worth it assuming you can get for a month or two. Even if you only get that rate for a month, you're paying off at least 50% -75% of your investment. That's the risk you take....

So please stop spreading FUD - we know you just don't want competition...too bad.

End Rant.

I think they say negative about mining maybe because they do not see connection between mining and end products they consume. Or maybe for the extremely hard working conditions for the workers in the past.

[gotminer]

Cause people are stupid, paying $1000 for a rx 580 is beyond stupid, they will never get their money back and resellers will keep the price high cause there are idiots paying what they want.

I paid $1000 for my water cooled 1080ti with a 4 year warranty... im glad i dont have to worry until the year 2022.....

bitcoin needs to go over $17,000 to indicate a bull market so HODL

Oh Cool.  Which charts and which ta indicators are you using on those charts to come to that conclusion?

[toptek]

Cause people are stupid, paying $1000 for a rx 580 is beyond stupid, they will never get their money back and resellers will keep the price high cause there are idiots paying what they want.

I paid $1000 for my water cooled 1080ti with a 4 year warranty... im glad i dont have to worry until the year 2022.....

bitcoin needs to go over $17,000 to indicate a bull market so HODL

Oh Cool.  Which charts and which ta indicators are you using on those charts to come to that conclusion?

No conclusion btc just will over time right now there holding stable at about 10 k  once they start back up they may stop at 21k then back down an hold at 17 k for a while ,I don't want BTC going up to fast and getting to much attention from the GOV but that's how i see it ...beside 10k isn't to bad.  as far as being negative about mining, i tend to agree with most it trolls and those who don't like sharing it's the greedy ones.

and any miner now will still be usable for at least a year plus... including ASIC miners ..... it all depends what you want out of mining ...  I have a batch three L3 + miner coming next month and may buy a few of the V9 and i said i wouldn't buy bit main again up til now i held out ... it's just to much fun and one big addiction ...