THE TRUTH

[evergreendog]

Everywhere I am seeing fellow miners discouraging other from jumping into the mining business.  All over this forum and reddit, you guys are being selfish because you don't want the difficult to keep rising.

The truth is mining crypto has been the easiest money for me, I am never going back to working a normal job when I can just do this all from my house.

I'm still pulling in NICE profits, people are just spreading fud about the ROI times and saying gpu mining is dead.

[Metroid]

You probably live in Venezuela, there average joe/person earns $5 per month, mining there with their electricity cost paired with their worthless currency will give more than $5 per month, now if you live in places where you earn more than $1000 per month and then you come here and say mining is worth more than working in any regular job then that means you are an idiot.

So to suffice, mining is only good in places where electricity is rarely charged by the government or let aside by getting votes or support aka what is happening is Venezuela or your regular job wage is pitiful to a point coming here and say mining is worth. If is worth to you then probably many things contribute to be worth to you and I'm sure 99.9999% people in the world are not in the same situation as you.

The only downside to you is the hardware cost I take, is a huge investment and even now is hard you are getting any from it but your ego is huge to come here and say out loud, "hey, I do make a lot of money mining and these trolls are all deceiving you", profitability graphs since 2009 are there for a reason, check it and you will see mining is at lowest ever and that means, nobody is an idiot to buy hardware in an uncertain market.

[AB de Royse777]

You probably live in Venezuela, there average joe/person earns $5 per month, mining there with their electricity cost paired with their worthless currency will give more than $5 per month, now if you live in places where you earn more than $1000 per month and then you come here and say mining is worth more than working in any regular job then that means you are an idiot.

I think miners need to be encouraged because they are the fuel of the crypto currency space. I also think miners should be the one who decide the price of coin. This way they will live and crypto will live too.

Thanks for posting this @OP. Can you post some data if possible.

[socks435]

There are some big company out there discouraging people to enter in mining because they don't want to difficulty increase. So I'm agree with OP.
Look at the Developers on FPGA they don't tell which coin and which bitstream you should use in order to make a good profit with FPGA and I heard there are company that making large amount of profit with FPGA which no one giving leak about this.
I don't know if its true but some youtuber that they have contact from some private company who develop FPGA for mining.

If you are just go in GPU the other comments here is true because here in my country mining is not profitable if you don't have free electricity source.

[BitcoinRefiner]

There are some big company out there discouraging people to enter in mining because they don't want to difficulty increase. So I'm agree with OP.
Look at the Developers on FPGA they don't tell which coin and which bitstream you should use in order to make a good profit with FPGA and I heard there are company that making large amount of profit with FPGA which no one giving leak about this.
I don't know if its true but some youtuber that they have contact from some private company who develop FPGA for mining.

If you are just go in GPU the other comments here is true because here in my country mining is not profitable if you don't have free electricity source.

FPGA mining like Hashaltcoin?
https://www.hashaltcoin.com/

[madnessteat]

Of course, mining is not dead, but my profit has decreased by 4-5 times compared with the end of 2017 - 2018. This is quite a noticeable difference. If at that time I could recoup my RIG in 4-6 months, now it will be more than 2 years provided that the cryptocurrency prices remain the same.

[Grim]

PROGPOW to the rescue.


Mining IS about decentralization.

Centralized ASIC mining is a RISK.

Higher hashrate alone/in one hand ISN'T more secure.

If mining gets centralized than CRYPTOCURRENCIES have failed !!!

[lunobird]

Everywhere I am seeing fellow miners discouraging other from jumping into the mining business.  All over this forum and reddit, you guys are being selfish because you don't want the difficult to keep rising.

The truth is mining crypto has been the easiest money for me, I am never going back to working a normal job when I can just do this all from my house.

I'm still pulling in NICE profits, people are just spreading fud about the ROI times and saying gpu mining is dead.

That was true only during the bull run of 2017. I'm not going to lie we were greedy.

But the truth now is we are way past the greed phase and in the anger or depressed phase. And I'm not gonna be greedy to keep my nickel I earn per day per card. I can split that with others for all I care.

I genuinely don't want to see miners get rekt but be my guess. I fear for those that bought GPU with debt.

If I had money I would buy coins. But I'm all out of cash so only thing I have left is credit which I only buy cards once in blue moon like a 2080 rtx and Vega vii for hobby mining and to keep home warm at night. Probably a bad idea but I enjoy it and so do others and that's why the market will always be oversaturated and unprofitable. Everyone knows how to gpu mine now. That was not the case before 2017

[Metroid]

Thankgod there are miners like you trolls who earn cents, so we investors can buy cheap from you and wait till better times and then multiply our profile from 10 to 50 times without doing anything, this bear market is good, so we with the money can buy coins without any fear cause this is it, the bottom, from here coins will only grow and as you trolls sell cause you need your cents to pay for the electricity, hardware, maintenance and many other things. Profitability graph shows us, this is the golden age to buy coins, in all history of bitcoin there was not worse times than this for miners which is the best time for buyers.

[h311m4n]

Everywhere I am seeing fellow miners discouraging other from jumping into the mining business.  All over this forum and reddit, you guys are being selfish because you don't want the difficult to keep rising.

The truth is mining crypto has been the easiest money for me, I am never going back to working a normal job when I can just do this all from my house.

I'm still pulling in NICE profits, people are just spreading fud about the ROI times and saying gpu mining is dead.

It may be easy money, but unless you have:

- Some capital to invest in mining gear, be it asics, GPUs or FPGAs
- Cheap electricity
- A good electrical installation that doesn't turn your operation in a fire hazard (which many people seem to completely overlook)

Mining is not, as of today, a profitable business, in the sense that making 1$ a day after you pay off electricity isn't exactly what I would call worth the hassle.

Then again, I don't know what you call "NICE" profits (a dollar is worth more in some countries than others).

[Grim]

Thankgod there are miners like you trolls who earn cents, so we investors can buy cheap from you and wait till better times and then multiply our profile from 10 to 50 times without doing anything, this bear market is good, so we with the money can buy coins without any fear cause this is it, the bottom, from here coins will only grow and as you trolls sell cause you need your cents to pay for the electricity, hardware, maintenance and many other things. Profitability graph shows us, this is the golden age to buy coins, in all history of bitcoin there was not worse times than this for miners which is the best time for buyers.

you want to invest in a centralized cryptocurrency ?
good luck
 


and who says miners aren't smart enough to hodl and god forbid even buy themself 

also ever heard of cornering the market? (= a large miner who also buys)

.......

[fanatic26_]

PROGPOW to the rescue.


Mining IS about decentralization.

Centralized ASIC mining is a RISK.

Higher hashrate alone/in one hand ISN'T more secure.

If mining gets centralized than CRYPTOCURRENCIES have failed !!!

progpow is no magical savior, it will be cracked just like any other asic resistant algos.

ASICs do not equal centralization, please stop parroting incorrect information from the other ignorant people on this site.

Big farms buy up GPU rigs just like they do ASICs, yet dumbass people dont seem to understand how this works at a commercial level.

Educate yourself.

[swogerino]

Mining with graphic card rigs is not dead but it is not profitable either. For the moment you cannot quit your daily job and live only by mining income. In developed countries you can't for sure do this. Probably in places like India with their cheap electricity and low standard of life you can. It all depends where you live at this time.

[angel55]

All of you crying about centralization can go buy Asics yourself, don't act like your only option is GPU mining.   These big farms are buying huge stocks of GPU at a discount with super cheap electricity.  Home miners will never be able to compete with the big boys, thats just how it is.

[Grim]

PROGPOW to the rescue.


Mining IS about decentralization.

Centralized ASIC mining is a RISK.

Higher hashrate alone/in one hand ISN'T more secure.

If mining gets centralized than CRYPTOCURRENCIES have failed !!!

progpow is no magical savior, it will be cracked just like any other asic resistant algos.

ASICs do not equal centralization, please stop parroting incorrect information from the other ignorant people on this site.

Big farms buy up GPU rigs just like they do ASICs, yet dumbass people dont seem to understand how this works at a commercial level.

Educate yourself.

Wow that is really dumb of you!

Congrats for relaying TOTALLY wrong information, your opinion is nothing but a disgrace.

We mine with ASICs since 2009, yes not only the gpu IS an ASIC but also the cpu. (this is new to you???)

[Grim]

Progpow is an algorithm written for already existing ASICs as commodity hardware.

Until today we had algorithms which didn't fit the existing ASICs so new ones are/were created, pretty dumb thing to do.

[Metroid]

progpow is no magical savior, it will be cracked just like any other asic resistant algos.

ASICs do not equal centralization, please stop parroting incorrect information from the other ignorant people on this site.

Big farms buy up GPU rigs just like they do ASICs, yet dumbass people dont seem to understand how this works at a commercial level.

Educate yourself.

So true.

[Grim]

progpow is no magical savior, it will be cracked just like any other asic resistant algos.

ASICs do not equal centralization, please stop parroting incorrect information from the other ignorant people on this site.

Big farms buy up GPU rigs just like they do ASICs, yet dumbass people dont seem to understand how this works at a commercial level.

Educate yourself.

So true.

All of this working at a commercial level is welcome. It is so true that this isn't the problem.

Educate yourself.

[Grim]

A decentralized emission period of a cryptocurrency is very essential to its core fundamentals.
Without that (once again) cryptocurrencies have failed/ are failing.


And you thinking to invest in a failure is so smart?

[Metroid]

A decentralized emission period of a cryptocurrency is very essential to its core fundamentals.
Without that (once again) cryptocurrencies have failed/ are failing.
And you thinking to invest in a failure is so smart?

Even the 100% centralized coin will be decentralized if people got interest in buying it. There is no way to monopolize the market as a whole as even if holders dont want to sell for a set price, holders WILL SELL FOR A HIGHER PRICE and that is what means to be put in a market, meaning, look at eth for example 70 million coins were premined "The system went live on 30 July 2015, with 72 million coins "premined". This accounts for about 70 percent of the total circulating supply in 2018." and yet it holds a $140 mark, see my point. Even bitcoin was premined as a test subject. Decentralization means power to many.