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Question: When will you be mining at a loss? Will you keep mining? When BTC hits:
USD 0-2, will continue mining anyway - 30 (22.6%)
USD 0-2, will not continue mining - 8 (6%)
USD 2-4, will continue mining anyway - 11 (8.3%)
USD 2-4, will not continue mining - 15 (11.3%)
USD 4-6, will continue mining anyway - 8 (6%)
USD 4-6, will not continue mining - 10 (7.5%)
USD 6-8, will continue mining anyway - 2 (1.5%)
USD 6-8, will not continue mining - 15 (11.3%)
FOREVER! - 34 (25.6%)
Total Voters: 132

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Author Topic: Will you mine at a loss?  (Read 2704 times)
hollajandro
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August 05, 2011, 11:58:37 PM
 #1

Just wondering when you guys will call it quits or how many of you will consider further investing in mining btc past the negative profit mark.
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August 06, 2011, 12:09:38 AM
 #2

<-- In it for the long haul.

Find something I said tip worthy? 1Nf47w5mk7a425xLTrV8U4eswqveoxwTv1
Transisto
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August 06, 2011, 12:52:43 AM
 #3

if it cost me less to buy BTC than the electricity it cost. What do you think I'll do ?

There is no mention of difficulty so this survey is invalid.
payb.tc
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August 06, 2011, 01:02:34 AM
 #4

if it cost me less to buy BTC than the electricity it cost. What do you think I'll do ?

it costs less to make a sandwich than it does to buy one.

people pay for convenience, and I'd say if you already have a mining rig completely set up, then continuing to pay for electricity would be far more convenient than trying to buy (especially if you've never bought before).
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August 06, 2011, 01:55:17 AM
 #5

if it cost me less to buy BTC than the electricity it cost. What do you think I'll do ?

it costs less to make a sandwich than it does to buy one.

people pay for convenience, and I'd say if you already have a mining rig completely set up, then continuing to pay for electricity would be far more convenient than trying to buy (especially if you've never bought before).

Good point, but if I can get twice the coins through buying then I will switching over.

wallet.dat
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August 06, 2011, 02:08:57 AM
 #6

I'm currently mining about 150 Bitcoins per day on my Core i7-920.  It costs me approx $1 per day in electricity to leave my machine on and Bitcoins trade at $.005 each. So I'm getting about $.75 worth of Bitcoins per day for a $.25 per day loss.  Screw this.  It's not even worth it  I'm out.

Peace,
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"MOOOOOOOM! THE MEATLOAF!!! F**K!"
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August 06, 2011, 02:37:30 AM
 #7

I'm currently mining about 150 Bitcoins per day on my Core i7-920.  It costs me approx $1 per day in electricity to leave my machine on and Bitcoins trade at $.005 each. So I'm getting about $.75 worth of Bitcoins per day for a $.25 per day loss.  Screw this.  It's not even worth it  I'm out.

Peace,
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Grin

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
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August 06, 2011, 02:45:15 AM
 #8

I'm currently mining about 150 Bitcoins per day on my Core i7-920.  It costs me approx $1 per day in electricity to leave my machine on and Bitcoins trade at $.005 each. So I'm getting about $.75 worth of Bitcoins per day for a $.25 per day loss.  Screw this.  It's not even worth it  I'm out.

Peace,
Early adopter

yeah, it does not make sense to mine, actually, in that situation. It'd make more sense to use the money that you pay for electricity and buy the coins directly.

If my post has been helpful, send me some love -> BTC: 1kokojUapmWqCqPw3Ch2rjcVh57tJEzka | PPC: PDyXAgA8eH47gokVW6zVZPSuu15aao5nZF | Bitshares: kokojie
My reputation
hollajandro
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August 06, 2011, 05:04:09 AM
 #9

if it cost me less to buy BTC than the electricity it cost. What do you think I'll do ?

There is no mention of difficulty so this survey is invalid.

Obviously as this was posted today, I am asking in regards to the difficulty as of this posting.
CD-RW
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August 06, 2011, 03:47:08 PM
 #10

I'm not mining for the profit, I'm doing it for the technical tweaking.
FreeJAC
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August 06, 2011, 04:12:32 PM
 #11

It's a hobby for me as well, but I would be lying if I didn't admit that the current price drop is bothering me. Was hoping to cash in a few to get a nice b.day gift for my wife that is turning 40 next week. Looks like this isn't going to happen. I mined half and bought half my stash around $13.5 and need to get my value out of it, so am currently holding...

Donate here.... 18NiDLDA3qRxkEPN36xrzsdSgvEkbDKgNr
Quix
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August 07, 2011, 11:46:37 PM
 #12

I basically switched over my folding@home hardware over to this so yeah, I'll keep doing it for a while. It's possible that Bitcoin will take off but if it doesn't it was still fun to help out an experiment of this magnitude.
makko
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August 08, 2011, 11:48:48 PM
 #13

I said 2-4..

I've just been mining for a little over a week now.. Boy, the buzz of the ups/downs is nearly better than the buzz of mining Cheesy

I'm planning on mining for the next six months. Gonna keep all my coin (might trade a little if I get/dev a good bot) in a secure wallet and hold for like 10 years or so. See where I am then.

I'll keep that between me and the forums though.. can't tell too many about this now as I'll get laughed at especially with where BTC/USD is at the moment.


Too lazy for a fancy sig.. Tongue
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August 08, 2011, 11:50:05 PM
 #14

Elec is free, will need heat in the winter anyway, so no reason to stop...

1D7FJWRzeKa4SLmTznd3JpeNU13L1ErEco
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AFK :/


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August 09, 2011, 02:13:35 AM
 #15

I'll keep going until something fries or catches fire! Cool

tonto
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August 09, 2011, 07:49:07 PM
 #16

I will mine at a loss, yes.  I was already "mining" SETI@home and then later folding@home, so doing bitcoins is already better so long as it trades (for me), more than a penny per coin.
 
I just do it on my gaming rig, so I mine when I'm not gaming.  Matter of fact, bitcoins is slowly helping me fund an awesome gaming rig Wink

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Bitonetta
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August 09, 2011, 10:58:59 PM
 #17

So how can I answer?  Will I mine at a lose?  No.
But I will still mine FOREVER!  mwahhhhh

Since I have free electric and already running dozen of boxes, they just chug away in my currently spare room (with the air conditioning there on 24/7 as well) out of sight and out of ear range.   Grin

I guess it'll become 'unprofitable' to me if/when bitcoin hits zero.  I'll end up stopping when I want my spare room back tho.
AngelusWebDesign
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August 09, 2011, 11:02:52 PM
 #18

So how can I answer?  Will I mine at a lose?  No.
But I will still mine FOREVER!  mwahhhhh

Since I have free electric and already running dozen of boxes, they just chug away in my currently spare room (with the air conditioning there on 24/7 as well) out of sight and out of ear range.   Grin

I guess it'll become 'unprofitable' to me if/when bitcoin hits zero.  I'll end up stopping when I want my spare room back tho.

Unless you have solar panels, SOMEONE is paying for it, and they're not going to like it when they get their first electric bill since you added a dozen rigs (plus extra A/C) to your normal electric usage.
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August 10, 2011, 02:02:01 PM
 #19

and even if you had solar panels, you had to pay for them, too, and won't recover the cost to "free" for a few years....
 
That said, I'm trying to talk my wife into letting me get like 3 MW worth of solar panels Smiley

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hmblm1245
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August 10, 2011, 02:25:00 PM
 #20

and even if you had solar panels, you had to pay for them, too, and won't recover the cost to "free" for a few years....
 
That said, I'm trying to talk my wife into letting me get like 3 MW worth of solar panels Smiley

Good luck. i am still trying to talk my wife in to letting me use one room for mining.
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