noobtrader
Legendary
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Activity: 1456
Merit: 1000
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March 07, 2015, 01:44:10 PM |
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So I have a question for miners. Was this reduction of mining difficulty really significant? Because after almost 3 months I did not see any changes in trade market. So I think that change was just cosmetic. And I also think recent bitcoin rise was not caused by this at all.
Ask it yourself If youre running a business and suddenly you can produce 10% extra for free, wouldn it be allright? Also use more points of view. If the diff rises, your profits go down by the percentaje it goes up! what matter for miner is the price of btc, i dont mind mining and get 50% less reward if the price of btc tripled. the problem is that halving does not affect price.
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"...I suspect we need a better incentive for users to run nodes instead of relying solely on altruism...", satoshi@vistomail.com
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picolo
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March 07, 2015, 06:45:47 PM |
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The next difficulty change could be neither up or down : Bitcoin Difficulty: 46,684,376,317 Estimated Next Difficulty: 47,278,363,227 (+1.27%) Adjust time: After 158 Blocks, About 1.1 days https://bitcoinwisdom.com/bitcoin/difficulty
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Walt Sobchak
Full Member
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Activity: 210
Merit: 110
God rest Donnie's soul.
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March 08, 2015, 04:39:12 AM |
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If you're an average miner and not overflowing with cash, the difficulty reduction meant nothing for you.
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Mousepotato
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March 08, 2015, 09:15:15 AM |
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And I thought being stuck at 1.2M difficulty was bad. Yikes!
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Mousepotato
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picolo
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March 08, 2015, 10:02:16 AM |
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If you're an average miner and not overflowing with cash, the difficulty reduction meant nothing for you.
If you were making 0.2/week and you now make 0.22 instead of 0.18 for several weeks, it is very nice and can double your profits after maintenance costs.
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kuusj98
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March 09, 2015, 08:39:04 PM |
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If you're an average miner and not overflowing with cash, the difficulty reduction meant nothing for you.
If you were making 0.2/week and you now make 0.22 instead of 0.18 for several weeks, it is very nice and can double your profits after maintenance costs. Mining has absolutely no point in doing. Especially not Cloud mining, you will 99/100 times lose money and if you make fat stacks 12,5% ROI per week *COUGH* LTC-Gear *COUGH* it will most likely be a scam. Anyway, getting 0.22 per week instead of 0.18 is sure as hell nice. But what if the prices drop even more?
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RD965
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March 22, 2015, 08:49:06 PM |
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If you're an average miner and not overflowing with cash, the difficulty reduction meant nothing for you.
If you were making 0.2/week and you now make 0.22 instead of 0.18 for several weeks, it is very nice and can double your profits after maintenance costs. Mining has absolutely no point in doing. Especially not Cloud mining, you will 99/100 times lose money and if you make fat stacks 12,5% ROI per week *COUGH* LTC-Gear *COUGH* it will most likely be a scam. Anyway, getting 0.22 per week instead of 0.18 is sure as hell nice. But what if the prices drop even more? Some people can afford to mine at a loss, and that makes it a profitable business
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alani123
Legendary
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Activity: 2576
Merit: 1507
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March 23, 2015, 04:47:34 AM |
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If you're an average miner and not overflowing with cash, the difficulty reduction meant nothing for you.
If you were making 0.2/week and you now make 0.22 instead of 0.18 for several weeks, it is very nice and can double your profits after maintenance costs. Mining has absolutely no point in doing. Especially not Cloud mining, you will 99/100 times lose money and if you make fat stacks 12,5% ROI per week *COUGH* LTC-Gear *COUGH* it will most likely be a scam. Anyway, getting 0.22 per week instead of 0.18 is sure as hell nice. But what if the prices drop even more? Some people can afford to mine at a loss, and that makes it a profitable business This doesn't make it a profitable business, this is what's making competitive business. The home miner game is still alive, people know that renting mine power from a service like hashnest could cost them less than maintaining their own, yet they trust their own hardware more. I personally know people that mine at home 24/7 with not more than a single Th/s. They know that electricity might be costing them more but are betting on a price increase.
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[/tabl
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ezeminer
Legendary
Offline
Activity: 2212
Merit: 1118
Lie down. Have a cookie
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March 23, 2015, 04:58:52 AM |
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--snip Many quotes --snip
Some people can afford to mine at a loss, and that makes it a profitable business
This doesn't make it a profitable business, this is what's making competitive business. The home miner game is still alive, people know that renting mine power from a service like hashnest could cost them less than maintaining their own, yet they trust their own hardware more. I personally know people that mine at home 24/7 with not more than a single Th/s. They know that electricity might be costing them more but are betting on a price increase. I will admit that I do this, I like my two s3's supporting the network, even if my electricity cost and mining profits almost zero out each other. I never will ROI, unless I sell my gear. But I enjoy making some coin here and there. And I can always diagnose my problems on the spot incase something happens.
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brutalick
Newbie
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Activity: 1
Merit: 0
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March 23, 2015, 03:55:30 PM |
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Hi,
Do you think that investing in hardware now would make sense?
I am interested in mining but have no experience.
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ChuckBuck
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March 23, 2015, 03:59:05 PM |
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Hi,
Do you think that investing in hardware now would make sense?
I am interested in mining but have no experience.
Sense? Only if you have free unlimited solar power, free cooling from the Antartic winds, and a warehouse or co-lo center passed on to you by inheritance somehow:
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Mikestang
Legendary
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Activity: 1274
Merit: 1000
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March 23, 2015, 05:30:06 PM |
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Some people can afford to mine at a loss, and that makes it a profitable business
Uh, what? It's not "at a loss" if is is "a profitable business", you have to pick one. I mine for hobby, I mine at a loss, I want to see the difficulty go down down down!
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ezeminer
Legendary
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Activity: 2212
Merit: 1118
Lie down. Have a cookie
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March 23, 2015, 05:41:40 PM |
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Some people can afford to mine at a loss, and that makes it a profitable business
Uh, what? It's not "at a loss" if is is "a profitable business", you have to pick one. I mine for hobby, I mine at a loss, I want to see the difficulty go down down down! I think he means at the time it is at a loss because the coins mined would equal less than the electricity bill. But he also means it is profitable if the BTC price jumps up, like january to march lows of $180 to highs of almost $300
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lightfoot
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Activity: 3178
Merit: 2260
I fix broken miners. And make holes in teeth :-)
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March 23, 2015, 06:02:21 PM |
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Maybe, but why not just buy coin on the market? Note I think this is why difficulty has been so stuck as of late, the 10nm technology just doesn't seem to be appearing.
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ezeminer
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Activity: 2212
Merit: 1118
Lie down. Have a cookie
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March 23, 2015, 06:20:22 PM |
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Maybe, but why not just buy coin on the market? Note I think this is why difficulty has been so stuck as of late, the 10nm technology just doesn't seem to be appearing.
we haven't even broken 20nm publicly, maybe knc, or someone did it privately but...
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noobtrader
Legendary
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Activity: 1456
Merit: 1000
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March 23, 2015, 06:42:37 PM |
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with halving issue next year and btc price, i doubt anyone even consider developing 20nm atm unless they have a plan to mine it all for themself and dump all teh coin...
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"...I suspect we need a better incentive for users to run nodes instead of relying solely on altruism...", satoshi@vistomail.com
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Amph
Legendary
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Activity: 3248
Merit: 1070
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March 24, 2015, 06:52:36 AM |
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Hi,
Do you think that investing in hardware now would make sense?
I am interested in mining but have no experience.
better not, it would make sense only if the price would rise so fast that the dif won't keep up with it, this will create a "profitability window"
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Furio
Legendary
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Activity: 938
Merit: 1000
BTC | LTC | XLM | VEN | ARDR
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March 25, 2015, 11:52:16 AM |
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Hi,
Do you think that investing in hardware now would make sense?
I am interested in mining but have no experience.
better not, it would make sense only if the price would rise so fast that the dif won't keep up with it, this will create a "profitability window" Only if you don't pay electricity Turkmenistan citizins have free electricit, let's all emigrate
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emdje
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March 26, 2015, 05:15:27 PM |
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Hi,
Do you think that investing in hardware now would make sense?
I am interested in mining but have no experience.
better not, it would make sense only if the price would rise so fast that the dif won't keep up with it, this will create a "profitability window" Only if you don't pay electricity Turkmenistan citizins have free electricit, let's all emigrate Not anymore http://centralasiaonline.com/en_GB/articles/caii/features/main/2013/10/31/feature-01
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Minerjoe
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March 26, 2015, 08:32:11 PM |
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How sustainable this growth is guys? I mean getting 10% per month, having in mind this base s not an easy thing to do.
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