I am out of the mining game :(

[orcanice]

So im out of the mining game.

Getting asics importet from china is too expensive -.-
Electricity is too expensive in my country 0.14$/kwh -.-
and my block erupters isnt making me anything.

this game have only been a waste of money so far.


GL on your mining guys dont make the same mistakes as i did.

[crowetic]

So im out of the mining game.

Getting asics importet from china is too expensive -.-
Electricity is too expensive in my country 0.14$/kwh -.-
and my block erupters isnt making me anything.

this game have only been a waste of money so far.


GL on your mining guys dont make the same mistakes as i did.

Good luck in your future endeavors!

[Don007]

I think you're one of the many miners that quit. That's why the ASIC devices are getting cheaper and cheaper. This has happend for GPU's too, you can buy some used GPU's for great prices nowadays.

However, it might still be profitable in the long run to mine now. You might not make profit now, but what if the Bitcoin is worth, for example, $5000 next year? It might have been profitable then to keep on mining now.

[Bitsaurus]

I think you're one of the many miners that quit. That's why the ASIC devices are getting cheaper and cheaper. This has happend for GPU's too, you can buy some used GPU's for great prices nowadays.

However, it might still be profitable in the long run to mine now. You might not make profit now, but what if the Bitcoin is worth, for example, $5000 next year? It might have been profitable then to keep on mining now.

If you're assuming that BTC would go up against fiat in he future wouldn't it behoove you to do everything to earn as much BTC as possible.  If mining is a loosing proposition compared to buying the coin, why mine in the first place.  People need to do basic math before making mistakes like this.

[Lucky7Gaming]

I think you're one of the many miners that quit. That's why the ASIC devices are getting cheaper and cheaper. This has happend for GPU's too, you can buy some used GPU's for great prices nowadays.

However, it might still be profitable in the long run to mine now. You might not make profit now, but what if the Bitcoin is worth, for example, $5000 next year? It might have been profitable then to keep on mining now.

If you're assuming that BTC would go up against fiat in he future wouldn't it behoove you to do everything to earn as much BTC as possible.  If mining is a loosing proposition compared to buying the coin, why mine in the first place.  People need to do basic math before making mistakes like this.

My Antminer S1, soon to be S3 has squeaked out a profit, but mining is tough.  GPUs aren't making nearly as much as they used to.

[Vortex20000]

So im out of the mining game.

Getting asics importet from china is too expensive -.-
Electricity is too expensive in my country 0.14$/kwh -.-
and my block erupters isnt making me anything.

this game have only been a waste of money so far.


GL on your mining guys dont make the same mistakes as i did.

Electricity is my country is $0.19/kwh.

I still am going to get some miners from China. Even factoring in difficulty rise as more and more noobs jump into the fray, as well as rising electricity cost and rising everything, the rise in the price of bitcoin should compensate decently enough for at least my R.O.I and some profit. After that, I have a hobby of dismantling obsolete items so I can also have some fun :p

[Bitsaurus]

So im out of the mining game.

Getting asics importet from china is too expensive -.-
Electricity is too expensive in my country 0.14$/kwh -.-
and my block erupters isnt making me anything.

this game have only been a waste of money so far.


GL on your mining guys dont make the same mistakes as i did.

Electricity is my country is $0.19/kwh.

I still am going to get some miners from China. Even factoring in difficulty rise as more and more noobs jump into the fray, as well as rising electricity cost and rising everything, the rise in the price of bitcoin should compensate decently enough for at least my R.O.I and some profit. After that, I have a hobby of dismantling obsolete items so I can also have some fun :p

Why would you mine with such expensive power rates?  You should take the total amount of money you would have spent on 6 months of the miner's electricity and added that to the miner's cost and used that fiat to buy BTC - you would have ended up with more BTC so if BTC prices rises you'll make even more.

[ghostman9559]

I was doing quite well when I started, but now the exchanges are my only way to keep my head above water. My graphics card rarely sees any use now, but in a pinch if I think a coin will make it, I am more than willing to run the bill up.

[guitarplinker]

Mining is becoming harder for me too. Even with the efficient 750 Ti's they're barely covering power costs now.

[onlyu]

Quit GPU mining two months ago. People who bought ASIC are probably worse off than GPU miners,

[CounterStrike]

So im out of the mining game.

Getting asics importet from china is too expensive -.-
Electricity is too expensive in my country 0.14$/kwh -.-
and my block erupters isnt making me anything.

this game have only been a waste of money so far.


GL on your mining guys dont make the same mistakes as i did.

Mining game sucks, only manufacturer wins... No choice but to buy BTC since its cheap now... $540..

[notbatman]

Black Arrow has successfully squeezed me out of the mining game by not delivering my hardware and robbing me of my ASIC capital.

BFL, HashFast, AMT and many others have also successfully driven out thousands of miners using the same strategy.

My GPUs currently mine 30¢/day (after power) worth of ConspiracyCoin so I guess I'm not completely out of the game yet. I'm sure they're working on an X11 ASIC to screw me on this too...that's right boys spend a few million to fuck me out of 30¢, assholes.

[bitcoinminer007]

I think one of the main reason that you could not succeed is high electricity bill. In my country it is relatively cheap. It is only $0.08/kwh. So what do you think, do i have any chance of making profit from mining?

[johny08]

I think you're one of the many miners that quit. That's why the ASIC devices are getting cheaper and cheaper. This has happend for GPU's too, you can buy some used GPU's for great prices nowadays.

However, it might still be profitable in the long run to mine now. You might not make profit now, but what if the Bitcoin is worth, for example, $5000 next year? It might have been profitable then to keep on mining now.

But then, then the better desicion is to buy bitcoins and holding them. Because you have to pay the electricity now or periodicly with fiat or btc, so you better of buying periodicly btc instead of paying for the electricity. so you buy btc with the money you want to spend for the miner. you have a fix amount and then, the amount you would spend for electricity you just buy new bitcoins. at the end you will get far more. 

[johny08]

I think one of the main reason that you could not succeed is high electricity bill. In my country it is relatively cheap. It is only $0.08/kwh. So what do you think, do i have any chance of making profit from mining?

I am paying here at least $0,20. So $0,15 is cheap for me.

[Kprawn]

You still have loads of mining experience to sell to people with more favorable environments {Cheaper electricity and deep pockets}

That is something, nobody can take away from you.

It's bad to hear things like this, because every miner, are the life blood of the crypto currencies of this world.

Rent out your skills and buy into other peoples data centres. {And make up for some of your possible losses} Or do write-ups of your experience, for others to learn from.

There are still some Satoshi's for you to make out there.  

[notlist3d]

Quit GPU mining two months ago. People who bought ASIC are probably worse off than GPU miners,

I quit GPU mining at beginninng of summer.  Just did not make sense with a significant amount of GPU's making so little.  I sold off and bought more asics with it.

BTC Asics turned out to be the safe and best bet.  Scrypt dropped quick on profit I will be mining my scrypt longer then i thought to ROI.  But overall it was a very good change.  With decent priced electricity you can still ROI.  I do suggest going straight BTC asics atm though.

[bluecityste]

20% import tax on equipment and $0.27 per KwH here in the UK, and i'm still mining so no idea why your giving up so early!

[X7]

So im out of the mining game.

Getting asics importet from china is too expensive -.-
Electricity is too expensive in my country 0.14$/kwh -.-
and my block erupters isnt making me anything.

this game have only been a waste of money so far.


GL on your mining guys dont make the same mistakes as i did.

I feel you bro - had to shut down and relocate our operation to a cheaper country.
The big corporations are making it difficult to keep this thing in the decentralized hands of the masses.

How are we going to compete with these 11 MegaWatt facilities CoinTerra and MegaBigPower are rolling out?
It is far far far cheaper to buy the BTC at this current value than to mine anything - unless you are doing it for philanthropic reasons. Probably best you get out before you blink and see the difficulty at 30Billion

[orcanice]

20% import tax on equipment and $0.27 per KwH here in the UK, and i'm still mining so no idea why your giving up so early!

Here the import tax is 25%.