Minning is wasting money, why still minners?

[Herlz]

is there anybody purchasing new hardware or cloud hasing contracts?

I haven't seen any cloud hashing contract profitable after doing 2-3 calculations.

Why invest money in ASIC cards or any other brand, when the bitcoin price is trending down?

I haven't seen any hardware that you can purchase now and get at least the money back even with free electricity

Am I missing something?

I'm using this calculator:

http://mining-profit.com/advanced-calculator

if anyone is making positive returns, can you show here with numbers?

[allcoinminer]

is there anybody purchasing new hardware or cloud hasing contracts?

I haven't seen any cloud hashing contract profitable after doing 2-3 calculations.

Why invest money in ASIC cards or any other brand, when the bitcoin price is trending down?

I haven't seen any hardware that you can purchase now and get at least the money back even with free electricity

Am I missing something?

I'm using this calculator:

http://mining-profit.com/advanced-calculator

if anyone is making positive returns, can you show here with numbers?

Your views are current in the current situation of BTC at $300 levels.
No hardware or cloud-mining can profit at this time.
Getting back even a 50% of money spend on the above will not see back at this situation.
In-short, for now no mining is profitable for common people.
This will change if btc value goes above $600 and mining hardware companies are ready to drop their prices to some meaningful levels.

[redsn0w]

is there anybody purchasing new hardware or cloud hasing contracts?

I haven't seen any cloud hashing contract profitable after doing 2-3 calculations.

Why invest money in ASIC cards or any other brand, when the bitcoin price is trending down?

I haven't seen any hardware that you can purchase now and get at least the money back even with free electricity

Am I missing something?

I'm using this calculator:

http://mining-profit.com/advanced-calculator

if anyone is making positive returns, can you show here with numbers?

The people mining not  only for gain bitcoin , but most importantly for support the network .

[ChuckBuck]

is there anybody purchasing new hardware or cloud hasing contracts?

snip

The people mining not  only for gain bitcoin , but most importantly for support the network .

It's not really supporting the network though, especially if you only have a few TH/s.

There's already over 250 PH/s on the network, most of which are by those huge industrial mining operations.  If you pull your miners or shut them off, no one will even notice.  So in actuality you're just really losing money for no reason.

If you really want to support it, just serve as a node, evangelize Bitcoin to your friends, family, or co-workers, and generally just continue to use it when you can.

Mining isn't supporting Bitcoin for the home/hobby user.  It's just making your pockets alot lighter.

[redsn0w]

is there anybody purchasing new hardware or cloud hasing contracts?

snip

The people mining not  only for gain bitcoin , but most importantly for support the network .

It's not really supporting the network though, especially if you only have a few TH/s.

There's already over 250 PH/s on the network, most of which are by those huge industrial mining operations**.  If you pull your miners or shut them off, no one will even notice.  So in actuality you're just really losing money for no reason.

If you really want to support it***, just serve as a node, evangelize Bitcoin to your friends, family, or co-workers, and generally just continue to use it when you can.

Mining isn't supporting Bitcoin for the home/hobby user.  It's just making your pockets alot lighter.

But in the origin the mining *was only* for support* and make strong the network .  * for support your , my and ALL bitcoin   .


**99% are a mining farm .
*** all person that know bitcoin should support it !

[ChuckBuck]

Yup, redsn0w, in the beginning of the CPU days, we needed as many people as possible mining to support the network.

After the Asic era launched though, it's safe to say that the Bitcoin network is out of the hands of the home miner.

[marife01]

Mining at home or in your own really seems not profitable with the increasing difficulty. Also with the pricey hardware and cost of electricity.

[Herlz]

It's not really supporting the network though, especially if you only have a few TH/s.

There's already over 250 PH/s on the network, most of which are by those huge industrial mining operations.  If you pull your miners or shut them off, no one will even notice.  So in actuality you're just really losing money for no reason.

If you really want to support it, just serve as a node, evangelize Bitcoin to your friends, family, or co-workers, and generally just continue to use it when you can.

Mining isn't supporting Bitcoin for the home/hobby user.  It's just making your pockets alot lighter.

really good answers and straight into the point! thank you guys

now the question is: how big is the margin for the farms that even when the price drops they still make profits? -for margin I mean the cost of producing the ASIC miners.

thanks

[ChuckBuck]

It's not really supporting the network though, especially if you only have a few TH/s.

There's already over 250 PH/s on the network, most of which are by those huge industrial mining operations.  If you pull your miners or shut them off, no one will even notice.  So in actuality you're just really losing money for no reason.

If you really want to support it, just serve as a node, evangelize Bitcoin to your friends, family, or co-workers, and generally just continue to use it when you can.

Mining isn't supporting Bitcoin for the home/hobby user.  It's just making your pockets alot lighter.

really good answers and straight into the point! thank you guys

now the question is: how big is the margin for the farms that even when the price drops they still make profits? -for margin I mean the cost of producing the ASIC miners.

thanks

Alot of these manufacturers offset alot of these costs to produce these asic miners, by selling outdated used miners to customers like us after they've mined all profitably out of it.

These same manufacturers also hedge their bets by selling mining contracts or cloud mining, which almost fully guarantees profit on their end, since it locks in customers on a term contract and tacks on maintenance fees on top.

[Etanllah]

There's a handful of cloud mining services that allow you to hit ROI in a decent timeframe:

LTCGear
Gawminers Hashlets
genesis-mining.com

I think one of the keys is to reinvest your earnings to keep accumulating your hashpower.

[pumawolf]

u gotta have  a stragtegy, treating it as a money printing machine will almost always lose. to profit u gotta put some effort in , research the whole industry daily. buy  and sell, trade   hardware/cloudmining, u gotta be flexible to get in and out of the market depending on the situation.

[spiceminer15]

buy used asic cheap and mining is profitable still even at $300. with decent elec prices.

BTC would have to be about $100 for me to lose profitability right now with 0.064 power rate

[PolarPoint]

Most people mine because they think they can mine more coins than the cost of the miner PLUS the resale value of the miner before the miner becomes obsolete.

[kanazawa]

I only think that mining at home is great when you got PV systems or a wind generator, etc. You know, free electricity... the costs with energy is so f*****  high. omfg.

[Snorek]

Why are you people complaining? Mining is good if you can do the math first and calculate if you gonna be on top or not. The only factor that can change really is bitcoin price or difficulty of mining. Everything else you can calculate before.

[allcoinminer]

At the current price of BTC mining is not profitable even if electricity charges are not factoring in.
When saying not profitable, I mean no ROI for any mining hardware whether its new, second hand or cloud-mining at their current price.
These manufacturers need to drop the price from highs to get the business back for home miners and small farm owners.

[spiceminer15]

At the current price of BTC mining is not profitable even if electricity charges are not factoring in.
When saying not profitable, I mean no ROI for any mining hardware whether its new, second hand or cloud-mining at their current price.
These manufacturers need to drop the price from highs to get the business back for home miners and small farm owners.

this isn't true. it depends on the cost of electricity and how much you buy the mining gear for

[allcoinminer]

At the current price of BTC mining is not profitable even if electricity charges are not factoring in.
When saying not profitable, I mean no ROI for any mining hardware whether its new, second hand or cloud-mining at their current price.
These manufacturers need to drop the price from highs to get the business back for home miners and small farm owners.

this isn't true. it depends on the cost of electricity and how much you buy the mining gear for

Yes it depends on as you said. But I said about the current facts.
No mining hardware is available to buy to ROI at this time.

[Kprawn]

For me it's basically a experiment, to see if I can get to ROI or not, even if the odds/math are stacked against you.

Why do gold miners mine at a loss? {They just love the gold} It's a rush to see Satoshi's being created out of nothing. 

[puwaha]

For me it's basically a experiment, to see if I can get to ROI or not, even if the odds/math are stacked against you.

Why do gold miners mine at a loss? {They just love the gold} It's a rush to see Satoshi's being created out of nothing. 

Nothing ventured, nothing gained.  I like it.