I am out of the mining game :(

[bitcoinbettingtips]

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.

It is profitable in the last few days if you mine and sell instantly. If you wait for a few more day, the price will drop, then you are not making profit.

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[RichBC]

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.

It is profitable in the last few days if you mine and sell instantly. If you wait for a few more day, the price will drop, then you are not making profit.

You make an excellent point. We all do calculations on Difficulty, electric cost etc and compute how much money we will make in a Day. However an even more important factor that is easily forgotten is what will the mined BTC be worth when converted back to Local Currency...

Rich

[crowetic]

BURST remains profitable to mine, and hardly takes any power at all, you can run 40TB of HDD space, with a single decent laptop. You can even mine with raspberry pi. Which I think will run 8TB... and drives will cost you nothing in power, are relatively inexpensive to purchase, and have great resell value. So it's kinda funny that people aren't jumping all over it.


But... the time is near. I see the people who used to support hardcore BTC mining, dwindling in their support of it, I see the people who used to love BTC, moving on to love a new tech that makes mores sense as far as sustainability... I mean really, do we all think that when EVERYONE knows about crypto, that mining with ASICs is still going to make sense?? Where is all of this power coming from? Or are we going to give in and just allow a few central authorities to run the entire network? Then if so, have we even gotten anywhere with this whole venture?


BURST has everything that BTC  doesn't, and so much more. Not to mention working Automated Transactions before anyone else, and without any funding whatsoever. While ETH was still thinking, and collecting millions to help, BURST had proved the existing  ability to make use of its Automated Transactions.

Don't get me wrong, there are a few other projects that will be amazing as well, but BURST is definitely one of them.



Running a hard drive for 60-120 seconds every 4 minutes or so, and a CPU or GPU at partial capacity to read that HDD, is nothing. It is basically the same as running your computer, without mining.

If you disagree, I challenge you to try it.


If you like mining, what have you got to lose? Not power, maybe a few hours time in learning an awesome technology? That's sad, why would you want to do that... lol

[winspiral]

i'm impatient to see what will happen after the halving.

[vrm86]

i'm impatient to see what will happen after the halving.

The only reference we have is the 2012 halving, but the overall market conditions are completelly different. These days halving from 50 to 25BTC resulted in absulutely nothing:

[winspiral]

By principle same will happen with less "amplitude" (if it is the right word)

12.5BTC will be mined every 10 minutes in average...for 25BTC now...

Many people will then mine and lose...certainly...
Miner hardware will then be sold...for low price.

[buddycool]

Today i saw a video about mining and thought i should give it a try,.... So i downloaded the software and using the btc calculator, calculated the profit. . i was in loss with my current hardware, and i just can't buy new hardware requured for the purpose... So i dropped the idea at once.. Also, my laptop became really hot within minutes of running the software...
by the way i am nrw to the btc world and this forum..

[romero121]

i'm impatient to see what will happen after the halving.

The only reference we have is the 2012 halving, but the overall market conditions are completelly different. These days halving from 50 to 25BTC resulted in absulutely nothing:

This time the market situation is not that same, so can't expect growth even when halving takes place.
Those days halving means surely there will increase in price now it has changed.

[maokoto]

Sad to hear you lost money on that one. I guess that with the current prices (that are somewhat low) it is harder yet. Have you tried POS coins? You can invest a little and not risk much. I love NETcoin for example, that provides some interest in the form of newly staked coins every few (six) hours.

[vrm86]

Sad to hear you lost money on that one. I guess that with the current prices (that are somewhat low) it is harder yet. Have you tried POS coins? You can invest a little and not risk much. I love NETcoin for example, that provides some interest in the form of newly staked coins every few (six) hours.

You have to catch the moment when you have get some coins, but price hadn't fall down too much. Every POS coin is vulnerable to inflation and massive dumps. Greed is the major enemy of POS coins holders.

[Abiky]

Sad to hear you lost money on that one. I guess that with the current prices (that are somewhat low) it is harder yet. Have you tried POS coins? You can invest a little and not risk much. I love NETcoin for example, that provides some interest in the form of newly staked coins every few (six) hours.

Now that you mention PoS coins, a good way to earn some good profit is by investing into Tekcoin. Its price has gone down drastically which makes it a great choice to buy a huge stack of them while you still can and earn some pretty good stakes. The good thing about Tekcoin is that once you have some coins, just wait every 30 days for them to mature and earn some stakes. 

[crowetic]

Sad to hear you lost money on that one. I guess that with the current prices (that are somewhat low) it is harder yet. Have you tried POS coins? You can invest a little and not risk much. I love NETcoin for example, that provides some interest in the form of newly staked coins every few (six) hours.

Now that you mention PoS coins, a good way to earn some good profit is by investing into Tekcoin. Its price has gone down drastically which makes it a great choice to buy a huge stack of them while you still can and earn some pretty good stakes. The good thing about Tekcoin is that once you have some coins, just wait every 30 days for them to mature and earn some stakes.  

POS is a great option the only thing is you have to have coins to start, but you could do that, or... https://bitcointalk.org/index.php?topic=1323657.0;topicseen

PoC you can in almost every scenario mine with something you've already got, takes almost no power (just like PoS) and has a more 'mining' feel to it, because, well, it's mining!

hell, do them both!

you can go big, you can go small, doesn't matter. If you run your PC anyway, no reason not to. We even have a GUI miner/plotter/wallet now. Give it a shot!

[Abiky]

Sad to hear you lost money on that one. I guess that with the current prices (that are somewhat low) it is harder yet. Have you tried POS coins? You can invest a little and not risk much. I love NETcoin for example, that provides some interest in the form of newly staked coins every few (six) hours.

Now that you mention PoS coins, a good way to earn some good profit is by investing into Tekcoin. Its price has gone down drastically which makes it a great choice to buy a huge stack of them while you still can and earn some pretty good stakes. The good thing about Tekcoin is that once you have some coins, just wait every 30 days for them to mature and earn some stakes.  

POS is a great option the only thing is you have to have coins to start, but you could do that, or... https://bitcointalk.org/index.php?topic=1323657.0;topicseen

PoC you can in almost every scenario mine with something you've already got, takes almost no power (just like PoS) and has a more 'mining' feel to it, because, well, it's mining!

hell, do them both!

you can go big, you can go small, doesn't matter. If you run your PC anyway, no reason not to. We even have a GUI miner/plotter/wallet now. Give it a shot!

Of course. As well as PoS mining could be profitable depending on the coin, I do mine Proof of Concept coins as well like BURST. That makes it an excellent combination for me to generate a decent amount of profits which takes place mostly into investing in BURST assets and staking Tekcoins. 

[BruceLee007]

I am thinking out of the mining game too, becouse price is getting higher and this is  to expensive.

[RichBC]

Of course. As well as PoS mining could be profitable depending on the coin, I do mine Proof of Concept coins as well like BURST. That makes it an excellent combination for me to generate a decent amount of profits which takes place mostly into investing in BURST assets and staking Tekcoins. 

I am having a little play with Burst as something to do when Bitcoin get'e even sillier than it is already...

Got to say it's good fun, consumes almost no additional power as I have several PC's running all the time and the only investment needed is in some additional hard Drive capacity which will always be handy.  Just one snag though, they are not worth anything, but I do like watching the Ninga display and seeing how you are doing.


Rich

[Searing]

Of course. As well as PoS mining could be profitable depending on the coin, I do mine Proof of Concept coins as well like BURST. That makes it an excellent combination for me to generate a decent amount of profits which takes place mostly into investing in BURST assets and staking Tekcoins.  

I am having a little play with Burst as something to do when Bitcoin get'e even sillier than it is already...

Got to say it's good fun, consumes almost no additional power as I have several PC's running all the time and the only investment needed is in some additional hard Drive capacity which will always be handy.   Just one snag though, they are not worth anything, but I do like watching the Ninga display and seeing how you are doing.


Rich

FINALLY someone with a LAMER life then myself

link to the burst stuff? (I am bored and may sink to your level of silliness)

[RichBC]

FINALLY someone with a LAMER life then myself

link to the burst stuff? (I am bored and may sink to your level of silliness)

 

This is the best current thread, the links in the OP are good. Takes a bit of getting going as it's not as mature as bitcoin, but quite a nice distraction from the heat & Cost of Bitcoin...

https://bitcointalk.org/index.php?topic=1323657.0

Rich

[weerayut]

me too.

[Betwrong]

I am thinking out of the mining game too, becouse price is getting higher and this is  to expensive.

I know that now the mining becomes unprofitable in the areas where the electricity prices are high. All my mining friends continue with mining only because they have free electricity or the the price of it close to nothing.

But I hope when the price of BTC rises to over $450 the mining will be profitable again in most areas.

[kenji543]

I'm still in it until spring/summer rolls around. I'm basically using mining hardware to heat the house since its pretty cold here ~-10C and electricity is cheap. Once it gets warm, I'm going into minimal mining mode, cutting back on clock rates to increase efficiency.

My hardware already produced 5x the ROI since I started back in 2012. And already cashed out a lot when BTC hit over 1k.

At the moment, I'm losing money while mining in terms of electricity costs but at the same time it allows me to use the heater less often.