Minning is wasting money, why still minners?

[Stargazer]

If bitcoin survives the following months and rises again it will just show how motivated the community is.
Let's give it time and see. It may yet be one of the best decissions in your life (or the worst).

[redsn0w]

check this story :

Yeah, Price + Difficulty = S1 and Jupiter retirement.

All said and done about 50TH offline now. Dunno what I'm going to do with them.




https://i.imgur.com/XBX3DVj.jpg
https://i.imgur.com/8drZ50F.jpg
https://i.imgur.com/uxKwz9j.jpg

The home mining is dead sometimes ago.

[spiceminer15]

i'll take all your s1. they still profitable for me undervolted

[allcoinminer]

check this story :

Yeah, Price + Difficulty = S1 and Jupiter retirement.

All said and done about 50TH offline now. Dunno what I'm going to do with them.




https://i.imgur.com/XBX3DVj.jpg
https://i.imgur.com/8drZ50F.jpg
https://i.imgur.com/uxKwz9j.jpg

The home mining is dead sometimes ago.

After Antminer S3, it very difficult to survive as a home miner.
BTC value got corrected too much instead of jerking at or above $1000.

[cryptotraders]

I tried cloud minning at cex.io and hashop.io and then I regret.
waste a money.

[allcoinminer]

I tried cloud minning at cex.io and hashop.io and then I regret.
waste a money.

In cloud mining there is conflict of interest between cloud service provider and the customers.
The level playing field for both of their are "almost"(Not all) same.

[bitzcointalk]

Hardware cannot reach a return on the investment. So... NO. Bad idea. Expect to lose your investment. Check calculators with a difficulty change over time to see if in 1 month you will be making the same... you won't be... there is simply too much hardware being brought online by too many manufacturers and they have only hurt themselves. Do not buy hardware, you will loose your investment. They are now knowingly trying to sell you goods they know you cannot profit from, but simple calculators say that you will.
Good Luck.

[toptek]

194.00 or 0.58 BTC about for S3 b10 on bitmains site at least there stying with in coin prices. Should be lower  guess they have to eat to.

[redsn0w]

check this story :

Yeah, Price + Difficulty = S1 and Jupiter retirement.

All said and done about 50TH offline now. Dunno what I'm going to do with them.




https://i.imgur.com/XBX3DVj.jpg
https://i.imgur.com/8drZ50F.jpg
https://i.imgur.com/uxKwz9j.jpg

The home mining is dead sometimes ago.

This isn't your example of home mining now is it? What I was reading was that his equipment was in a warehouse and he would be paying a different type of electric (probably commercial rate) This is usually a bit higher than your regular rate. Regardless homeminers shouldn't be looking to make a quick profit but a long one, if electric is low enough they can beat the price of coins by mining. (undervolted s1's and possibly s3)

At the end he isn't a farm , so this category is "home mining" with 1 - 2 or 50 Ths . Because he bought this asic hardware and he  hasn't produced it , but the big farm produce the chip and mine whit it .

[toptek]

check this story :

Yeah, Price + Difficulty = S1 and Jupiter retirement.

All said and done about 50TH offline now. Dunno what I'm going to do with them.




https://i.imgur.com/XBX3DVj.jpg
https://i.imgur.com/8drZ50F.jpg
https://i.imgur.com/uxKwz9j.jpg

The home mining is dead sometimes ago.

This isn't your example of home mining now is it? What I was reading was that his equipment was in a warehouse and he would be paying a different type of electric (probably commercial rate) This is usually a bit higher than your regular rate. Regardless homeminers shouldn't be looking to make a quick profit but a long one, if electric is low enough they can beat the price of coins by mining. (undervolted s1's and possibly s3)

At the end he isn't a farm , so this category is "home mining" with 1 - 2 or 50 Ths . Because he bought this asic hardware and he  hasn't produced it , but the big farm produce the chip and mine whit it .

+ that tells me he still may be farming just doesn't know what to do with lower end hardware . so is he still farming but with 1 th 2th hardware took those  off line because of Price + Difficulty = S1 and Jupiter retirement. Just those ?!. I don't see any S3 in those PIC.


I offered some one 170 on ebay for a S3 upgrade kit they want all most 300 for  I'll see how that goes .

[spazzdla]

I'll do what I want!!!!

4 S1's and 2 S3's, wont' turn off.. let them run until failure.

[chaosknight]

I'll do what I want!!!!

4 S1's and 2 S3's, wont' turn off.. let them run until failure.

Ha ha 2 s1's undervolted and a technobit M4 with an s3 on the way! I rather mine then buy all day, I second guess myself when buying and i LOVE mining. (You pay for entertainment anyways, Mining is my entertainment!)

Mining is entertainment? First time I heard that but enjoy

[puwaha]

I'll do what I want!!!!

4 S1's and 2 S3's, wont' turn off.. let them run until failure.

Ha ha 2 s1's undervolted and a technobit M4 with an s3 on the way! I rather mine then buy all day, I second guess myself when buying and i LOVE mining. (You pay for entertainment anyways, Mining is my entertainment!)

Mining is entertainment? First time I heard that but enjoy

Hobby?  Sure.  Entertainment?  Well, I guess.

[Collider]

Smart trading has been more effective than mining for a long time.

That being said, home mining is essentially unpractical unless you pay below 0.08ct/kWh and live in very cold climate (and has been for quite some time now).

Over 50% of all mining power comes from either industrial scale farms or industrial scale hosting services.


The future of mining is in the "cloud" aka hosted services / shares of big mining operations.
These can actually achieve a better efficiency in terms of power / hosting costs per TH aswell as lower hardware prices.

[allcoinminer]

Smart trading has been more effective than mining for a long time.

That being said, home mining is essentially unpractical unless you pay below 0.08ct/kWh and live in very cold climate (and has been for quite some time now).

Over 50% of all mining power comes from either industrial scale farms or industrial scale hosting services.


The future of mining is in the "cloud" aka hosted services / shares of big mining operations.
These can actually achieve a better efficiency in terms of power / hosting costs per TH aswell as lower hardware prices.

Trading and Mining are two different business.
If for Hobby/Fun purpose Trading cannot replace Mining.
If for Profits then its better to trade currency or stocks in fiat world than in bitcoin because its more matured than btc exchanges.
There once can more effectively implement their trading strategies.

Home Mining as for now is not viable financially due to BTC value erosion against dollar.
Another thing is, even with zero electricity charges ROI is -ve due to the current hardware price.
Cloud is also not viable as per the current price listing for hashing power.
More over there are conflict of interest in that cloud hosting business model. Cloud returns are not as good as we fee from the front end.

Finally, if anyone want to do mining as a hobby/fun with a positive or neutral ROI, the time is gone.

[HashFarmer]

The best is to go to country like ice land and build your own electricity generator, asic and mine yourself. Best right...

[allcoinminer]

The best is to go to country like ice land and build your own electricity generator, asic and mine yourself. Best right...

That's almost what some of the mining hardware manufacturers are doing.
They even sell their almost juiced hardware to customers.

[btckold24]

I am not worried about if I am losing/ wasting money "Now".   The point of mining to me is to keep generating btc while I hold. I have made some ROI on my miners and also just broken even on some. At the end of the day I am mining for what btc is in 10 years not what it is now

[Sunderland]

- Electricity Bill for every country in the world is different ,and in some country you can get cheap electricity with bribe someone who has authority to do that.

- Maybe miner still hope that BTC price or other coins will raise someday.

So now with btc below $400 we can say yes mining is wasting money ,but we don't know what happen next.

[allcoinminer]

- Electricity Bill for every country in the world is different ,and in some country you can get cheap electricity with bribe someone who has authority to do that.

- Maybe miner still hope that BTC price or other coins will raise someday.

So now with btc below $400 we can say yes mining is wasting money ,but we don't know what happen next.

If whatever happens next, it only applies to already brought mining hardware.
For those who are going to get miners are 100% losers at this time.
They should wait for BTC value to appreciate before buying new hardware.
Otherwise, buy BTC directly is the best and less risky method.
If money is not a concern and hobby mentality cracking in your brain, buy a hardware now!