Home mining is dead.

[ChuckBuck]

Home mining isnt dead. We just need cheaper power to complete with the giants...

How does one go about to get cheaper power?



Oooh, I know I know!  We get a bunch of giant hamsters and a bunch of giant wheels, and then let them run for hours and hours generating free electricity!  Brilliant.

[johnyj]

There are many home miners with free electricity, they are unbeatable. If they scale up the operation and have large management and electricity overhead, then they can not hold long in a bear market. The most stable situation for bitcoin mining is millions of users mining at home using mostly free electricity, so that the cost is well under control. Large mining farms will be too risky, they have to either find the private investors to sell their coin or sell the hash power through a competitive pricing

[btcxyzzz]

Ever considered mining altcoins? CPU and GPU mining is still alive and well.

[ChuckBuck]

There are many home miners with free electricity, they are unbeatable. If they scale up the operation and have large management and electricity overhead, then they can not hold long in a bear market. The most stable situation for bitcoin mining is millions of users mining at home using mostly free electricity, so that the cost is well under control. Large mining farms will be too risky, they have to either find the private investors to sell their coin or sell the hash power through a competitive pricing

Really?  Where in the USA can one get free electricity?

I might have to move there to start my mining farm!   

[jonnybravo0311]

There are many home miners with free electricity, they are unbeatable. If they scale up the operation and have large management and electricity overhead, then they can not hold long in a bear market. The most stable situation for bitcoin mining is millions of users mining at home using mostly free electricity, so that the cost is well under control. Large mining farms will be too risky, they have to either find the private investors to sell their coin or sell the hash power through a competitive pricing

Really?  Where in the USA can one get free electricity?

I might have to move there to start my mining farm!   

A lot of people seem to confuse "free" with "somebody else is paying for it."

[hedgy73]

Some basic accommodation in the UK (mainly flats or bedsits) come with free electricity included in the rent. Its obviously not free they just put it on the rent .

However I know for a fact that the landlords would notice if they had an extra light on, let alone mining equipment as they know what the average expected usage would be.

The reason I know is because I do work for many different landlords and they know where every penny is going in every property they own.

[erenna]

Someone is still mining in Italy, and I've said it all  The highest costs around the globe probably 

[ChuckBuck]

There are many home miners with free electricity, they are unbeatable. If they scale up the operation and have large management and electricity overhead, then they can not hold long in a bear market. The most stable situation for bitcoin mining is millions of users mining at home using mostly free electricity, so that the cost is well under control. Large mining farms will be too risky, they have to either find the private investors to sell their coin or sell the hash power through a competitive pricing

Really?  Where in the USA can one get free electricity?

I might have to move there to start my mining farm!   

A lot of people seem to confuse "free" with "somebody else is paying for it."

True, there's included in rent or maintenance costs, then there's the "Landlord ain't gonna pay shit for this outrageous electrical bill cost you passed on to him".

Nothing's completely free, a line gets crossed at some point.

[Transisto]

What is currently killing home miners is the high cost of shipping and customs fee compared to the hardware itself.
 Also the fact that 90% of hardware designs use noisy 12 000 RPM fans into units that look like crap. (external power supplies)

Used to be a fan of the S3 for home mining until they priced themselves out of the market.

[xstr8guy]

There are many home miners with free electricity, they are unbeatable. If they scale up the operation and have large management and electricity overhead, then they can not hold long in a bear market. The most stable situation for bitcoin mining is millions of users mining at home using mostly free electricity, so that the cost is well under control. Large mining farms will be too risky, they have to either find the private investors to sell their coin or sell the hash power through a competitive pricing

Really?  Where in the USA can one get free electricity?

I might have to move there to start my mining farm!  

A lot of people seem to confuse "free" with "somebody else is paying for it."

Bravo Jonny!  

The geniuses who think "free" electricity is the answer are living in a fantasy world, retarded or just really deep in denial.

I have an average sized American home with average electricity costs. My circuits can currently handle my 10Ths of gear as long as my pool pump and A/C aren't running at the same time, lol. And I'm lucky if I bring in $50 per day in BTC revenue. And I'm extra lucky if $10 of that is profit! I'm exactly one average difficulty adjustment from going into the red.

How is someone with "free electricity" who lives in a small flat (or dorm room) or is stashing miners under their desk at work and who has very restricted electrical capacity going to make any significant income?! At best they'll be able to run 1 or 2 THs before they start tripping circuits.

And even 1 or 2 THs is going to raise suspicion of the person/organization who is actually paying the electric bill. So is that extra $5 or $10 per day worth someone spending any money on new mining gear? No, not even with free electricity. And considering they are likely to be caught, it's certainly not worth the risk.

Home mining is indeed dead.

[helipotte]

My small farm is still profitable.  And now with winter just around the corner I can have subsidized heat for a few months!  About half of my miners have been running

in outdoor temps all summer but are going to get brought in to stay at their "winter home".

Also if you have enough hardware of different sorts running as a home miner, it starts to become a lot like a second job.  Maybe I just fiddle with my equipment too

much.

[xstr8guy]

My small farm is still profitable.  And now with winter just around the corner I can have subsidized heat for a few months!  About half of my miners have been running

in outdoor temps all summer but are going to get brought in to stay at their "winter home".

Also if you have enough hardware of different sorts running as a home miner, it starts to become a lot like a second job.  Maybe I just fiddle with my equipment too

much.

You, just like me, are running miners that we purchased months ago. I'm at a net positive for all of my miner purchases combined (notice how I didn't use ROI, lol). And we will run them until electrical costs exceed our income and it doesn't make sense anymore. And that time is fast approaching.

But for anyone just starting now and buying new (or even used gear) or anyone adding gear to their existing farm... the investment is hopeless and stupid.