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

[Coindacioius]

They're simply envy in general because it needs money to get into it.

[Keelhaul]

They can't comprehend the concept of blockchain, which why they believe miners get their money out of nowhere and all the cryptocurrency economy is a simple fraud in essential.

[adelaisav]

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.

The issue, obviously, is that cryptomining is more well known than any time in recent years.

What's more, as more individuals find the idea, more individuals require equipment to control their new side interest. Without a quick increment in supply from designs card creators like Nvidia, AMD, Asus, and others, it's far-fetched that this issue is leaving at any point in the near future.

[Tidsdilatation]

Why would anyone be negative? This trend will soon change. GPUs will become cheaper, mining profitability will go up. I promise you, its always the same circle. We've been here before, saying mining is "dead" a 100 times. Just relax and be happy, keep mining.

[stash2coin]

Imagine what will happen if Ethereum goes POS, 2-3 million or more GPUs have to go somewhere or get sold. Interesting times ahead indeed!!

[Naughtid]

Imagine what will happen if Ethereum goes POS, 2-3 million or more GPUs have to go somewhere or get sold. Interesting times ahead indeed!!

The Ethereum going to PoS is a staged process. So the effect will be less when GPU go to other algorithms slowly.

[Keelhaul]

Imagine what will happen if Ethereum goes POS, 2-3 million or more GPUs have to go somewhere or get sold. Interesting times ahead indeed!!

The method will be implemented slowly. It's not gonna be like today you mine etherium and tomorrow you don't. Apart from that there're a lot of valid coins profitable to mine. And even if all miners swap to them they will pull the diffuculty up to the skies and the price of the mined coin correspondingly. Ethereum itself wouldn't have cost so much had it been not a big deal to mine some.
Total network hashrate defines the price.

[newmz]

Most old adopters or people who mined in 2016 or earl 2017 aren't negative.

The people who are negative are the ones who overpaid for expensive Nvidia GPUs that they got in Jan and are now making exactly half of their gains.

Most old adopters are still hashing away with their 7970s, 290 and don't really care about ROI.

Toatally agree... it's pretty tiresome to read someone posting their sad story when they just started and they didn't bother to look at a little bit of history. I would still be hashing away with my 290s but honestly they were just so hot and power hungry that I got 1070s pretty early when I saw that they perform roughly as well as a 290 but for half the watts. Glad I got them before every person who read headlines about BTC going past $20k thought they had to jump in on this "free money".

That's one very important point about GPU mining. I was able to mine with 290s for around 12-15 months (many of them used 290s) then I was able to sell them on Ebay and get back at least half what I paid for them or better, when they had already easily paid for themselves - but you're right, I didn't care. It just made it financially easier to transition to 1070s - especially before 1070's were like trying to buy unicorn shit. The important thing is I was able to keep mining because it's GREAT FUN. Sometimes it makes a lot of money, sometimes it makes just over costs, (if I were mining to cash out staright away which I'm not) but either way I think if you are mining purely for profit and you don't actually enjoy it as a technical challenge and a great hobby - naturally you are going to be sad about it when it isn't churning out big profits, and then I guess you might post some negativity and FUD. Then you are a sad boring person IMHO.

Crypto mining is a very important part of a new (probably) world changing technological ecosystem. I'm happy just to be part of that. Any ROI I have made (many times over) is just a bonus that allows me to keep doing it.

[ntrader]

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 worked in mining and now i am mining monero but mining is so difficult job that you must consume hardware and also electric power, and if you check the mining process u will find out that the heat of mining like Heater. you need some external cooler to cool the mining room. and other disadvantage of mining is that, you must hold your coin to reach a good point vs BTC or $. some of devices  will had been some problem with rigs and also other problems. so it seems that some one prefer trading or other ways to earn money.

[lili song]

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 worked in mining and now i am mining monero but mining is so difficult job that you must consume hardware and also electric power, and if you check the mining process u will find out that the heat of mining like Heater. you need some external cooler to cool the mining room. and other disadvantage of mining is that, you must hold your coin to reach a good point vs BTC or $. some of devices  will had been some problem with rigs and also other problems. so it seems that some one prefer trading or other ways to earn money.

Yes as I know mining difficult job, and earn a little bit more than a few years ago. Must have a great high specification hardware to do, cooler, make the mining room cool and run 24 hours etc. Most of people now do another ways to earn money like investment, trading etc. I ask my friends why he do mining? He said now is hard to earn the money. So most of people thinking negative about mining. Making per day from mining smaller than cost of mining. It's a big risk!

[maxmeme]

The other impact of mining is its hog up all the GPUs. Gamers are not able to buy GPU at decent price. This is the side effect of mining. GPU sellers are selling at very high price and still many people are buying for mining.