Is mining doomed to end in big farms?

[stompix]

As we know the more miners the more difficult it gets to mine. So when there are for example 1Million pc's mining it doesn't matter if they are all in one basement or spread each across the world (Technical not fairness or whatsoever related). So the reason why bitcoin mining got so competitive and non usable with a normal desktop pc was because it got harder to mine

Mining got competitive because the reward for mining increased.
If we would switch back to a CPU design algorithm I'm sure as one can possibly be then in less than one year the average joe with its i3 or i5 from the 6th generation won't be able to make a penny a month, look at monero, 10-20 cents per day to keep your CPU at full throttle and this with the coin being up 30% in the last 90 days.

IF we would be mining only via CPU farms would still exist, you wouldn't be able to compete with huge datacenters that could at any time program their servers to mine when they are not used by other applications not even going to mention botnets.

That being said I don't see mining dying down completely for small miners, they have one huge advantage over farms if they manage to get cheap electricity, you don't pay maintenance, you don't pay rent or employees and in most cases, you don't pay tax. If you live in an area with cheap power or you have excess power from some already built generator then you can compete with any large farm. Besides, a small miner could run its gear at a loss just to secure the network or simply out of spite, paying a few tens of dollars a month, a business that owns a farm won't be able to run like this long before going bankrupt.

[Searing]

Yes. Mining is doomed to end in big farms.

On October 18th, 2013 I had a KNC Jupiter 550gh BTC Miner that cost $5,131.80 USD w/shipping complete. It made about 1 BTC a day

and that day, at least briefly, BTC was $150.00 USD.

So no electricity to run the above, setup costs, just the 'plain' equipment.

A friend on here (Phliipma1957) at my challenge, did the math (math hates me) and found you would need IF you could get the latest

Bitmain AntRack Equipment coming out about April 1st, 2021.....wait for it...

$4.5 million USD to have equipment chucking out 1 BTC per day, BEFORE any electric or other expenses..just the equipment.

Yeah, this is a 'pretty clear' trend don't ya see.

Brad

[dansus021]

I think that big farms that use green electricity will be the only way crypto will survive.

When the coronavirus crisis is over, Greta is coming for Bitcoin...

Total Agree with this green electricity will be the only way crypto will survive.

and its not gonna doomed in next couple year when new efficient mining equipment come to place and if you follow the altcoin segment there's another dozen to mining with ASIC

and couple of it using PoS, Masternode, DpoS and other Proof Of ..... which no longer using Proof of Work

[Fundamentals Of]

This is the inevitable road Bitcoin mining has to take. You cannot control competition.

The difficulty is increasing as mining is becoming profitable and therefore attractive so it is expected that more powerful miners will be assembled and put into service. The result would be that obsolete CPU and GPU miners will have to give way to a more efficient hardware.

This is also the reason why individual miners are losing grip and have to join a mining pool for a more efficient mining.

[Twinkledoe]

This is the inevitable road Bitcoin mining has to take. You cannot control competition.

The difficulty is increasing as mining is becoming profitable and therefore attractive so it is expected that more powerful miners will be assembled and put into service. The result would be that obsolete CPU and GPU miners will have to give way to a more efficient hardware.

This is also the reason why individual miners are losing grip and have to join a mining pool for a more efficient mining.

I remember before, someone can still mine using gridseed miner. It is now like antique gadget for bitcoin mining and not worth to utilize for mining. Individual miners need to find alternatives for cheap energy like using solar panels/wind turbines, otherwise, it is better to join mining pools.

[Fundamentals Of]

This is the inevitable road Bitcoin mining has to take. You cannot control competition.

The difficulty is increasing as mining is becoming profitable and therefore attractive so it is expected that more powerful miners will be assembled and put into service. The result would be that obsolete CPU and GPU miners will have to give way to a more efficient hardware.

This is also the reason why individual miners are losing grip and have to join a mining pool for a more efficient mining.

I remember before, someone can still mine using gridseed miner. It is now like antique gadget for bitcoin mining and not worth to utilize for mining. Individual miners need to find alternatives for cheap energy like using solar panels/wind turbines, otherwise, it is better to join mining pools.

However cheap energy does not mean cheap cost. For individual miners who only have a limited setup, it is probably impractical to look for cheap energy sources such as the ones you mentioned. If I am not mistaken, the cost to set up solar panels or wind turbines enough to fully power your miners will be significantly high. Not to mention that there will be regular maintenance and check ups for these facilities. Considering that you are just an individual miner, I guess it is for your optimum convenience if you just join a pool.