I am out of the mining game :(

[bitcoinbettingtips]

Mining directly is not for most people. If you think price will rise, just buy some bitcoins.

With high bitcoin at the moment, the difficulty will rise quickly. Most people will not ROI if they over pay the mining machines.

[Amph]

Mining directly is not for most people. If you think price will rise, just buy some bitcoins.

With high bitcoin at the moment, the difficulty will rise quickly. Most people will not ROI if they over pay the mining machines.

but they will earn more now if they have their machine ready, because no matter how fast the diff will rise, it is fixed, and it can't catch up with this furious pump that we are seeing

[Searing]

 Not gonna mine my old (off since feb 2015) KNC 550gh Jupiter (750 watts) but at 13c kwh I ran the numbers and it would cost me like $70.20 in elec and would pay out
using this btc calc

at now btc price of 434.20 (you have no idea the btc boner I just got typing that)


https://tradeblock.com/bitcoin/mining

I would ONLY lose 12 bucks a month (at 7% diff rise per month standard setting on the tradeblock mining calculator above ..for the 1st 30 days anyway)

If stuff keeps staying this nuts, the damn thing may live again...even if all I'm doing is swap'ing elec for btc..come to think of it it s winter ..it would probably
be a 'wash' now as a space heater....

sheesh its weird this last week..I'm up like 15k on holding BTC and LTC and the Titan(s) are STILL mining 6.5 LTC a day (got 2 of them)

lostgonzo.imgur.com (my setup if interested...the KNC 550gh Jupiter (now OFF) is now used as a 'gravity assist device" to hold the miner bench to the earth)

this is some wild times

[adaseb]

Not gonna mine my old (off since feb 2015) KNC 550gh Jupiter (750 watts) but at 13c kwh I ran the numbers and it would cost me like $70.20 in elec and would pay out
using this btc calc

at now btc price of 434.20 (you have no idea the btc boner I just got typing that)


https://tradeblock.com/bitcoin/mining

I would ONLY lose 12 bucks a month (at 7% diff rise per month standard setting on the tradeblock mining calculator above ..for the 1st 30 days anyway)

If stuff keeps staying this nuts, the damn thing may live again...even if all I'm doing is swap'ing elec for btc..come to think of it it s winter ..it would probably
be a 'wash' now as a space heater....

sheesh its weird this last week..I'm up like 15k on holding BTC and LTC and the Titan(s) are STILL mining 6.5 LTC a day (got 2 of them)

lostgonzo.imgur.com (my setup if interested...the KNC 550gh Jupiter (now OFF) is now used as a 'gravity assist device" to hold the miner bench to the earth)

this is some wild times

You can undervolt that Jupiter and have it run at 1W/1GHS

[OrientA]

If you have an old bitcoin miner, it might be possible to make some bitcoin by turn it on now. Especially you electricity price is cheap and it is winter in your region. The price at $450 make it profitable for some inefficient miners.

[Searing]

Not gonna mine my old (off since feb 2015) KNC 550gh Jupiter (750 watts) but at 13c kwh I ran the numbers and it would cost me like $70.20 in elec and would pay out
using this btc calc

at now btc price of 434.20 (you have no idea the btc boner I just got typing that)


https://tradeblock.com/bitcoin/mining

I would ONLY lose 12 bucks a month (at 7% diff rise per month standard setting on the tradeblock mining calculator above ..for the 1st 30 days anyway)

If stuff keeps staying this nuts, the damn thing may live again...even if all I'm doing is swap'ing elec for btc..come to think of it it s winter ..it would probably
be a 'wash' now as a space heater....

sheesh its weird this last week..I'm up like 15k on holding BTC and LTC and the Titan(s) are STILL mining 6.5 LTC a day (got 2 of them)

lostgonzo.imgur.com (my setup if interested...the KNC 550gh Jupiter (now OFF) is now used as a 'gravity assist device" to hold the miner bench to the earth)

this is some wild times

You can undervolt that Jupiter and have it run at 1W/1GHS

Yeah I need a PSU *used the Jupiter one on the Titans* ... but 500 usd say coin I'll get a 'spare' corsair 1200i unit (justify it as such for the Titans as a backup) and see as a space heater and what I can get for BTC to justify a 'discount' off the spare Titan PSU above (see I can justify anything if it involves spending) would probably not last long...with everyone turning on old equip and difficulty going nuts..but hey even it I got a spare corsair 1200i sitting about for 'eventual' 100 bucks off say ..piece of mind and space heater savings may be worth it..not QUITE there yet..but it is an angle.....(should really have a spare psu for the Titans just in case anyway..losing 5-7 days would suck ..thats prob 1/2 the price of a corsair 1200i right there)

[bb2ebb]

If you have an old bitcoin miner, it might be possible to make some bitcoin by turn it on now. Especially you electricity price is cheap and it is winter in your region. The price at $450 make it profitable for some inefficient miners.

the problem from mining is difficult that increase continue and much competitor which have mining hardware that having high performance sure will be difficult for miners which have hardware mining that have low hashrate

[Abiky]

I once was a miner, and had a few Gridseeds laying around to mine alt coins and then exchange them to BTC. Unfortunately, I've quitted too because mining cost was too expensive. The electricity rates and having to compete with different miners/hashrate makes it somewhat unprofitable. Difficulty would rise as well, making your current mining gear obsolete. Still, I'm thinking of returning to it someday (probably between Christmas or summer)   

[YuginKadoya]

Mining directly is not for most people. If you think price will rise, just buy some bitcoins.

With high bitcoin at the moment, the difficulty will rise quickly. Most people will not ROI if they over pay the mining machines.

Yup it is not for most people, you will need knowledge in mining and you need to gamble in what to buy and computing the expenses that will come up to you, and buying some bitcoins you will need to wait when bitcoin will go up again, not in mining if you done it right you will always ROI when bitcoin increases!

[OrientA]

I once was a miner, and had a few Gridseeds laying around to mine alt coins and then exchange them to BTC. Unfortunately, I've quitted too because mining cost was too expensive. The electricity rates and having to compete with different miners/hashrate makes it somewhat unprofitable. Difficulty would rise as well, making your current mining gear obsolete. Still, I'm thinking of returning to it someday (probably between Christmas or summer)   

Only mine during the winter and treat the miners as space heater. Otherwise there is not much point to mine with high electricity price and high difficulty.

[psonowal83]

Do you guys think there will be a time when mining will be that much difficult that it will take one day long to mine 1 ??

[RichBC]

Do you guys think there will be a time when mining will be that much difficult that it will take one day long to mine 1 ??

The difficulty is adjusted, Up and Down, every 2016 Blocks, about 14 Days, such that a Block on average is solved every 10 Minutes. So no it will never happen.


Rich

[winspiral]

Do you guys think there will be a time when mining will be that much difficult that it will take one day long to mine 1 ??

The difficulty is adjusted, Up and Down, every 2016 Blocks, about 14 Days, such that a Block on average is solved every 10 Minutes. So no it will never happen.


Rich

+1
it's allways 10 minutes.
What is changing is how much each miner get for his mining.
I mine for the fun 500 satoshi per day.
I will never roi my investment and I even do not count the electricity cost.
In my pool we are 250 or so.
let suppose that 1000000 people do the same.
then it is possible that the big miners lose cash.
They cannot loose cash like all the miners like me.
Here is the problem for miners...not for the bitcoin.

[bitcoinbettingtips]

Do you guys think there will be a time when mining will be that much difficult that it will take one day long to mine 1 ??

For an individual, it will take longer time to mine one certain unit of bitcoin if the difficult rises.

For all the miner as a whole, there should be one block (25 bitcoin) every 10 minutes, this time varies and is random.

[eternalgloom]

I'm guessing if these prices hold up, we'd see a lot of people going back into mining again.
Good times ahead, I hope.

[winspiral]

Do you guys think there will be a time when mining will be that much difficult that it will take one day long to mine 1 ??

For an individual, it will take longer time to mine one certain unit of bitcoin if the difficult rises.

For all the miner as a whole, there should be one block (25 bitcoin) every 10 minutes, this time varies and is random.

I do not agree
To mine a block it takes always 10 minutes no import the dificulty.
if the difficulty rises it is because we are more numerous to mine or because more is mined.

[Amph]

Do you guys think there will be a time when mining will be that much difficult that it will take one day long to mine 1 ??

For an individual, it will take longer time to mine one certain unit of bitcoin if the difficult rises.

For all the miner as a whole, there should be one block (25 bitcoin) every 10 minutes, this time varies and is random.

you have some confusion about solo vs pool, the time is actually the same, but the solo miners will take more because the reward is more, for the pool will take less because they will earn less

if the diff was always constant, with 10 tera a solo miner will earn one block in 300 day, and in the pool it's the same, he would earn a full block in 300 days, but in the maintime he would earn small portions of his future block every day

[RichBC]

Do you guys think there will be a time when mining will be that much difficult that it will take one day long to mine 1 ??

For an individual, it will take longer time to mine one certain unit of bitcoin if the difficult rises.

For all the miner as a whole, there should be one block (25 bitcoin) every 10 minutes, this time varies and is random.

you have some confusion about solo vs pool, the time is actually the same, but the solo miners will take more because the reward is more, for the pool will take less because they will earn less

if the diff was always constant, with 10 tera a solo miner will earn one block in 300 day, and in the pool it's the same, he would earn a full block in 300 days, but in the maintime he would earn small portions of his future block every day

I think you are also missing a very significant point here. A solo miner will earn one block on average in 300 day. He could earn it Tomorrow or never in his Lifetime. On a pool you will earn a full block in 300 days.

Rich

[smith coins]

I think that mining was profitable the last few days.
Maybe the difficulty was more than before but it worth maybe.
But after the halving period i think most of miners will quit.

[winspiral]

Do you guys think there will be a time when mining will be that much difficult that it will take one day long to mine 1 ??

For an individual, it will take longer time to mine one certain unit of bitcoin if the difficult rises.

For all the miner as a whole, there should be one block (25 bitcoin) every 10 minutes, this time varies and is random.

you have some confusion about solo vs pool, the time is actually the same, but the solo miners will take more because the reward is more, for the pool will take less because they will earn less

if the diff was always constant, with 10 tera a solo miner will earn one block in 300 day, and in the pool it's the same, he would earn a full block in 300 days, but in the maintime he would earn small portions of his future block every day

I think you are also missing a very significant point here. A solo miner will earn one block on average in 300 day. He could earn it Tomorrow or never in his Lifetime. On a pool you will earn a full block in 300 days.

Rich

And if you co-mine in my team you are sure to get few satoshi if you do not reach the pool minimum payout.