Home mining turned out to be short lived

[Biodom]

I am amazed how short-lived "at home" bitcoin mining turned out to be (EDIT: ASIC-based).
First high speed Jupiters were introduced about a year ago, and now it is essentially over.
Even best machines don't produce enough to justify a new machine purchase, unless you are a hobbyist who just like to tinker with the hardware.
Mining 'in the cloud' is out of the question because you can simply buy BTC instead.

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Actually home mining will be 6 years old by next year.

[Biodom]

Actually home mining will be 6 years old by next year.

correction to my original thesis: I was talking about ASIC-based home mining as I wasn't there during CPU/GPU phase.
It is "dead" already, people are just slow to realize this fact.
Please input the best new "home" miner (Sp-20) into calculator and see what you will get.
Again, some will still mine on a small scale as a hobby.
Everyone I know is paring down their @home mining activity or preparing to do it soon.

[JLynn171]

Actually home mining will be 6 years old by next year.

correction to my original thesis: I was talking about ASIC-based home mining as I wasn't there during CPU/GPU phase.
It is "dead" already, people are just slow to realize this fact.
Please input the best new "home" miner (Sp-20) into calculator and see what you will get.
Again, some will still mine on a small scale as a hobby.
Everyone I know is paring down their @home mining activity or preparing to do it soon.

Doesnt it all depend on cost of electricity whether it is worth it or not, granted Solo at home mining is dead but you can always get into pool mining...

[philipma1957]

Actually home mining will be 6 years old by next year.

correction to my original thesis: I was talking about ASIC-based home mining as I wasn't there during CPU/GPU phase.
It is "dead" already, people are just slow to realize this fact.
Please input the best new "home" miner (Sp-20) into calculator and see what you will get.
Again, some will still mine on a small scale as a hobby.
Everyone I know is paring down their @home mining activity or preparing to do it soon.

Yeah I used to be a player at times I was in the top 10 on bitminter pool.  I mined pretty decent amount of coin back in the day.

I have 6 s-3's now  and frankly no intention of more gear.

 maybe just maybe get a long tube from asicminer.  But I am waiting until I get reports on them since I know the short tubes were loud and hot.

It used to pay for me to burn 6k-watts in my house during the winter.  both for 2012 winter and 2013 winter.  now in 2014 winter I would need .3 watt gear to bother to burn that much power.

[BTCish]

When the big companys are compeating with home miners, there is nothing they can do.

[philipma1957]

When the big companys are compeating with home miners, there is nothing they can do.

not exactly but close enough.  The problem is the big companies need to restrict  their mining.  They suffer the temptation to build out the data centers too much and then are forced to dump coins on the market to pay for costs. thus killing the btc price. 
  If they were clever they would not expand and dump coins fast.



 

[MelodyRowell]

I am amazed how short-lived "at home" bitcoin mining turned out to be (EDIT: ASIC-based).
First high speed Jupiters were introduced about a year ago, and now it is essentially over.
Even best machines don't produce enough to justify a new machine purchase, unless you are a hobbyist who just like to tinker with the hardware.
Mining 'in the cloud' is out of the question because you can simply buy BTC instead.

Not if you buy the latest and most efficient miner, 0.1w/GH. But still it might be better of buying Bitcoin

[Skoupi]

Eventually mining will become available to everyone. Right now it's a multimillion dollar race and there is little room for individuals in it.
Once everything (adoption rate/ price/ mining technology) becomes stable, individuals will once again start having access to reasonable mining gear.
Mining gear that will be pretty much break even in terms of ROI.

[Biodom]

I am amazed how short-lived "at home" bitcoin mining turned out to be (EDIT: ASIC-based).
First high speed Jupiters were introduced about a year ago, and now it is essentially over.
Even best machines don't produce enough to justify a new machine purchase, unless you are a hobbyist who just like to tinker with the hardware.
Mining 'in the cloud' is out of the question because you can simply buy BTC instead.

Not if you buy the latest and most efficient miner, 0.1w/GH. But still it might be better of buying Bitcoin

0.1w/Gh-I am not aware of such miner being available for a reasonable price or any price.

[lowbander80]

Eventually mining will become available to everyone. Right now it's a multimillion dollar race and there is little room for individuals in it.
Once everything (adoption rate/ price/ mining technology) becomes stable, individuals will once again start having access to reasonable mining gear.
Mining gear that will be pretty much break even in terms of ROI.

Romantic point of view but congratulations thinking like this.

[nikkoy]

Eventually mining will become available to everyone. Right now it's a multimillion dollar race and there is little room for individuals in it.
Once everything (adoption rate/ price/ mining technology) becomes stable, individuals will once again start having access to reasonable mining gear.
Mining gear that will be pretty much break even in terms of ROI.

as i have read through the thread, i found this comment and i have a little bit hope on going to mine. I think the profitability of mining would increase if the value of BTC increase or the difficulty decreases. Thank you for some enlightenment .

[Zelek Uther]

Home mining isn't dead until the last home miner switches off their gear.

I am still mining at home.

Therefore home mining is not dead.

[goozman96]

Home mining isn't dead until the last home miner switches off their gear.

I am still mining at home.

Therefore home mining is not dead.

I'm home mining too, but I have free electricity. If I didn't, I'd sell the miner.

[petersiddle98]

Home mining isn't dead until the last home miner switches off their gear.

I am still mining at home.

Therefore home mining is not dead.

I'm home mining too, but I have free electricity. If I didn't, I'd sell the miner.

You mean your parents is paying the bills?

[notlist3d]

Home mining isn't dead until the last home miner switches off their gear.

I am still mining at home.

Therefore home mining is not dead.

I'm home mining too, but I have free electricity. If I didn't, I'd sell the miner.

You mean your parents is paying the bills?

There are a few other places.  I know during college i had a apartment with fixed electricity the max they could charge over was 25 dollars each person.

I do agree that someone is paying for electricity there is no such thing as free.   Someone paid the bill. 

And in most cases if you have "free" electricity it is not built for a lot of miners a few k watts would be hard if not impossible to do.

[goozman96]

Home mining isn't dead until the last home miner switches off their gear.

I am still mining at home.

Therefore home mining is not dead.

I'm home mining too, but I have free electricity. If I didn't, I'd sell the miner.

You mean your parents is paying the bills?

No. My rent includes electricity. But good guess lol

[Kimowa]

Home mining isn't dead until the last home miner switches off their gear.

I am still mining at home.

Therefore home mining is not dead.

I'm home mining too, but I have free electricity. If I didn't, I'd sell the miner.

You mean your parents is paying the bills?

No. My rent includes electricity. But good guess lol

Nice, but don't over use it as your landlord might call the police

[Ilan123]

I am still mining with 2 Antminers S3's and I keep getting tempted to buy 2 more especially as I now have S3+ Coupons worth 0.035 each, however I still cant justify the price though so I have been reluctant to push the button. I should have purchase an L1 and they are now sold out, but again December is a long way off in the Crypto world and they don't ship until December so I guess I will just wait until Bitmain bring out Batch 2. I also own Hashlets from GAW Miners and qASIC shares from LTCgear. All three revenue streams are earning me a nice secondry income right now so I can't really complain! but I agree with Biodom that cloud mining is definitely the way forward IMO from a ROI point of view.