Mining is dead

[igroock]

I sold all 20mhash systems I had before everyone flooded the market with their gear.

Mining is dead, it's a fact. As others already pointed out you will still make money but you won't break even, ever. Because by the time you think you will break even the difficulty will go up and new miners will flood the market. Bottom line is this, the ROI is bad. You are better off trading currency as a day trader vs investing money into mining

[1715576753]

1715576753

[1715576753]

1715576753

[precrime3]

You could always LEASE the rig which seems to be more profitable than even multipools... But yes mining is dead unless you have a crystal ball that'll tell you which coins will explode in price xD

[grippy54]

Just an FYI.  Even using an X11 coin it will take you about 2 years of 24/7 mining to break even on a 5 card rig mining Darkcoin.  Hiro is about the same.  And given that this is just the beginning, I'd say that unless Bitcoin prices make a sharp and permanent move upwards, gpu mining will die off long before the 1TH scrypt miners even ship because it's already becoming unprofitable even before the powerful scrypt asics are here and we all know that it's only going to get worse.

Don't believe me?  Run the numbers and consider all your costs, not to mention the value of your time.

The drop in btc effects all mining, not just gpus. Do you really think someone will spend thousands of dollars on an ASIC rig when it has a useful lifespan of 6 months, yet it takes 8 months to break even? If btc drops to $100, then most mining will stop. Only those mining on their existing PCs will go on, big ASIC and GPU rigs will have to shut down.

[kocur]

Just an FYI.  Even using an X11 coin it will take you about 2 years of 24/7 mining to break even on a 5 card rig mining Darkcoin.  Hiro is about the same.  And given that this is just the beginning, I'd say that unless Bitcoin prices make a sharp and permanent move upwards, gpu mining will die off long before the 1TH scrypt miners even ship because it's already becoming unprofitable even before the powerful scrypt asics are here and we all know that it's only going to get worse.

Don't believe me?  Run the numbers and consider all your costs, not to mention the value of your time.

The drop in btc effects all mining, not just gpus. Do you really think someone will spend thousands of dollars on an ASIC rig when it has a useful lifespan of 6 months, yet it takes 8 months to break even? If btc drops to $100, then most mining will stop. Only those mining on their existing PCs will go on, big ASIC and GPU rigs will have to shut down.

+1
EVERYTHING is about BTC price

[slimdim]

For XPM it's currently 4.5$ a day per 280x. It would be lower with the rise of the difficulty, but still...

what is XPM?

[grippy54]

EVERYTHING is about BTC price

Right! To illustrate the point, if btc goes up to $5,000, you'll find everyone in the world mining every coin out there with anything and everything they can... their PCs, iPods, DVRs, toaster ovens, whatever.

[robelneo]

I thought this is the year where Bitcoin will zoom up to $10000

[atp1916]

Mining is only dead for those whose electrical costs are high enough to actually strip out any profit given the coin they are on.  

Mining may be dead for one person, but not at all for another.  Blanket statements like 'mining is dead' are made by newbies who are simply new to the profitability cycle of virtual currency and who likely came in merely for a quick speculative buck based on something they read or where told.  These same newbies always make the mistake of thinking that their ROI will be a linear constant.  It almost never is.  It could be sped up in impressive fashion (re: latest altcoin explosion over the winter), or sit back and plod along like stuff is now.  

In short, you either give yourself the necessary time to potentially break even in the least - or simply don't even get involved in the first place.

Remember, the lazy person always starves - the same is true for altcoin mining. If you don't work at it, you will starve too.  The profitability landscape is always shifting: one must adapt to the shifts.  Nothing ever dies.  

[kev7112001]

For XPM it's currently 4.5$ a day per 280x. It would be lower with the rise of the difficulty, but still...

what is XPM?

XPM=Primecoin the best coin out

[MiningSensei]

You could always LEASE the rig which seems to be more profitable than even multipools... But yes mining is dead unless you have a crystal ball that'll tell you which coins will explode in price xD

Don't need a crystal ball. Just do your research There are plenty of coins that will rise in value in the medium/long term that are easy to spot if you do enough research on them.  As for short term, it is basically a coin toss unless they Develop everything extremely quick or catch a hype train.

[Prelude]

GPU mining died when LTC skyrocketed. Everyone and their mother bought any GPU they could find to "get rich". That's when I stopped buying GPUs.

[bitcoinsservice]

faircoin multipool is up, you can check it..
New coin, a strong community ..

http://fair-coin.info/multipool

[igroock]

Mining is only dead for those whose electrical costs are high enough to actually strip out any profit given the coin they are on.  

Mining may be dead for one person, but not at all for another.  Blanket statements like 'mining is dead' are made by newbies who are simply new to the profitability cycle of virtual currency and who likely came in merely for a quick speculative buck based on something they read or where told.  These same newbies always make the mistake of thinking that their ROI will be a linear constant.  It almost never is.  It could be sped up in impressive fashion (re: latest altcoin explosion over the winter), or sit back and plod along like stuff is now.  

In short, you either give yourself the necessary time to potentially break even in the least - or simply don't even get involved in the first place.

Remember, the lazy person always starves - the same is true for altcoin mining. If you don't work at it, you will starve too.  The profitability landscape is always shifting: one must adapt to the shifts.  Nothing ever dies.  

Silly post.

Lets say you invest $20k into mining with GPU's for Alt's, you simply CANNOT make your money back mining, PERIOD, THE END! How hard is that to understand? You are commenting about people making money now? I think youre confused. The only people making money are those who started in 2011. Their mining operation paid for all of their expenses by now. If you are just starting now, or even a few months back, you will NOT be able to break even. You are either confused or way too optimistic, which in this case is a lost cause. Bottom line is that people who started mining 2 months ago and going forward will not break even, even if bitcoin price goes up.
Alts were tanking when Bitcoin was at $660, which is about a month and a half ago, they only follow it to a certain degree. Litecoin has been the most stable at around $25. Alt's are simply pump and dump. No one excepts them as a viable currency like bitcoin, and majority are premined and then sold when the value goes up.
If you are in it for the hobby then by all means.

[kocur]

Mining is only dead for those whose electrical costs are high enough to actually strip out any profit given the coin they are on.  

Mining may be dead for one person, but not at all for another.  Blanket statements like 'mining is dead' are made by newbies who are simply new to the profitability cycle of virtual currency and who likely came in merely for a quick speculative buck based on something they read or where told.  These same newbies always make the mistake of thinking that their ROI will be a linear constant.  It almost never is.  It could be sped up in impressive fashion (re: latest altcoin explosion over the winter), or sit back and plod along like stuff is now.  

In short, you either give yourself the necessary time to potentially break even in the least - or simply don't even get involved in the first place.

Remember, the lazy person always starves - the same is true for altcoin mining. If you don't work at it, you will starve too.  The profitability landscape is always shifting: one must adapt to the shifts.  Nothing ever dies.  

Silly post.

Lets say you invest $20k into mining with GPU's for Alt's, you simply CANNOT make your money back mining, PERIOD, THE END! How hard is that to understand? You are commenting about people making money now? I think youre confused. The only people making money are those who started in 2011. Their mining operation paid for all of their expenses by now. If you are just starting now, or even a few months back, you will NOT be able to break even. You are either confused or way too optimistic, which in this case is a lost cause. Bottom line is that people who started mining 2 months ago and going forward will not break even, even if bitcoin price goes up.
Alts were tanking when Bitcoin was at $660, which is about a month and a half ago, they only follow it to a certain degree. Litecoin has been the most stable at around $25. Alt's are simply pump and dump. No one excepts them as a viable currency like bitcoin, and majority are premined and then sold when the value goes up.
If you are in it for the hobby then by all means.

You can't make your money back mining? I'm still buying more GPUs, you know why? Because there's a huge hole in your assessment, that being that alts will stay where they are in terms of price.

Buy! and believe 

[hashnine]

Now it's better to buy coins than hardware mining. So yes the mining is dead (the cause of Bitcointalk.org admins and sh*ty altcoins devs). I don't pay my electricity and my hardware are already refunded then i continue to mine but buying hardware now it's fully useless.

[Holm]

Look at my babies


They look dead to you?

FUCK THE HATERS

scrypt-n to the moon

i have almost the same? but only one rige

[atp1916]

Now it's better to buy coins than hardware mining. So yes the mining is dead (the cause of Bitcointalk.org admins and sh*ty altcoins devs). I don't pay my electricity and my hardware are already refunded then i continue to mine but buying hardware now it's fully useless.

Excellent.  Just got another 7950 for under $200. 

[Holm]

Now it's better to buy coins than hardware mining. So yes the mining is dead (the cause of Bitcointalk.org admins and sh*ty altcoins devs). I don't pay my electricity and my hardware are already refunded then i continue to mine but buying hardware now it's fully useless.

Excellent.  Just got another 7950 for under $200. 

good deal

[hashnine]

Now it's better to buy coins than hardware mining. So yes the mining is dead (the cause of Bitcointalk.org admins and sh*ty altcoins devs). I don't pay my electricity and my hardware are already refunded then i continue to mine but buying hardware now it's fully useless.

Excellent.  Just got another 7950 for under $200.  

$200 refunded in minimum 4 months lol... (each days the difficulty change then finally more than 4months), like i said it's useless to buy GPU now.

With 200$ i buy around 300 darkcoin / 100 vertcoin. How many days for mine this 300 coins using your HD 7950 ? around 400days xD

So you wasted your money into a graphics card  

Excellent, you said.    


EDIT: Even 100$ for your HD7950 is too much now (unless if you are a gamer)

[JHammer]

Mining is only dead for those whose electrical costs are high enough to actually strip out any profit given the coin they are on.  

Mining may be dead for one person, but not at all for another.  Blanket statements like 'mining is dead' are made by newbies who are simply new to the profitability cycle of virtual currency and who likely came in merely for a quick speculative buck based on something they read or where told.  These same newbies always make the mistake of thinking that their ROI will be a linear constant.  It almost never is.  It could be sped up in impressive fashion (re: latest altcoin explosion over the winter), or sit back and plod along like stuff is now.  

In short, you either give yourself the necessary time to potentially break even in the least - or simply don't even get involved in the first place.

Remember, the lazy person always starves - the same is true for altcoin mining. If you don't work at it, you will starve too.  The profitability landscape is always shifting: one must adapt to the shifts.  Nothing ever dies.  

+1  Only person in this thread that makes any damn sense..