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Syke
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January 13, 2015, 06:02:22 AM
 #1

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

Buy & Hold
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January 13, 2015, 06:24:43 AM
 #2

I went from having 4 miners 2.8 th - to zero - sold them off on ebay and need bitcoin to go back to $600 if I will to have made money off the deal as electricity and cost of the miners happened when btc was over 500$ 

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Rainbot
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January 13, 2015, 11:19:27 AM
 #3

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

I will retire unprofitable miners. At the moment nearly all mining asic's are becoming so.
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January 13, 2015, 02:04:59 PM
 #4

Not worried, I have just a few miners but the price will rally back up quickly and the electric is low for winter.
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January 13, 2015, 02:39:09 PM
 #5

Not worried, I have just a few miners but the price will rally back up quickly and the electric is low for winter.

Agree need to look at this as a long term investment not a day to day price comparison. Winners don't give up!
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January 13, 2015, 03:36:24 PM
 #6

I run my miners till they die, electricity costs be damned.

I had my last Sapphire 7950 GPU finally die on me late last year. It had been running at 90 degrees nonstop for 3 years. It hadn't hashed any SHA-256d in a while, but it held up well considering how hard I ran it. Can't believe it lasted as long as it did.

Last week, I had my first Block Erupter die. No real loss. The rest are still hashing, despite their negligible speed.

I've also had one USB AntMiner die some time around the new year.

Amazingly, my fleet of BFL miners are still hashing, except for one Jalapeño that stopped working last November. But it was problematic from the beginning, so I'm happy it lasted as long as it did.

Never had a blade die on me, but they're starting to show their age, so it's only a matter of time.

The newer miners, I hope, last as long as the older ones have.
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January 13, 2015, 04:18:18 PM
 #7

My prisma breaks even on monthly power usage in 6 days, so I'm not getting rich.
but we have super cheap power
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January 13, 2015, 07:11:43 PM
 #8

Nothing is turned off for me. Just underclocked some and at $200/BTC I am underclocking the rest of them. At $100/BTC I am turning off miners.

Edit: But difficulty might go down again which is good.

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January 14, 2015, 01:04:39 AM
 #9

Ain't gonna lie, starting to think about shutting down, putting my wallet into cold storage, and forget about Bitcoin for a decade.
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January 14, 2015, 02:37:13 AM
 #10

Turned off my miners. Where I live the power costs are too high for the current price and difficulty.  Cry

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January 14, 2015, 03:43:55 AM
 #11

Wont turning of miners just drop the price even further though?
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January 14, 2015, 03:49:33 AM
 #12

For those of you selling off your miners, contact me first before ebay or craigslist and we can try to work something out.
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January 14, 2015, 10:58:01 AM
 #13

i turned off my asicminer TUBE Smiley
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January 14, 2015, 12:11:13 PM
 #14

GPUs are now just gaming Smiley
Block erupters sleepin
BFLs sleepin
kfc 28nm sleepin
kfc 20nm getting sleepy

I havent looked in many months but also have 1G a CEX and they have not sent me a bill for power yet...
Last I checked(July '14) the 1G was barely makin dust after 'fees'...

I did back of the envelope @ BTC $300 and decided $200 enters the grey area for my situation.

Not sure if I'll pack it in or throw good money after bad on the chance of a windfall price change.
The fact that I save over $100 a month on winter heating has a 1 month grace period being considered...


LOL 'the best laid plans of mice and men...'

YMMV
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January 14, 2015, 01:00:51 PM
 #15

GPUs are now just gaming Smiley
Block erupters sleepin
BFLs sleepin
kfc 28nm sleepin
kfc 20nm getting sleepy

I havent looked in many months but also have 1G a CEX and they have not sent me a bill for power yet...
Last I checked(July '14) the 1G was barely makin dust after 'fees'...

I did back of the envelope @ BTC $300 and decided $200 enters the grey area for my situation.

Not sure if I'll pack it in or throw good money after bad on the chance of a windfall price change.
The fact that I save over $100 a month on winter heating has a 1 month grace period being considered...


LOL 'the best laid plans of mice and men...'

YMMV
Smiley
Your 1GH/s at Cex isn't doing anything right now, they've paused their cloud mining because they can't make a profit with the bitcoin price and rising difficulty. So you aren't making or losing money there.
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January 14, 2015, 01:28:48 PM
 #16

Ain't gonna lie, starting to think about shutting down, putting my wallet into cold storage, and forget about Bitcoin for a decade.

wait, so you've not used cold storage? lol you're too brave.
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January 14, 2015, 04:11:13 PM
 #17

You folks are still buying mining gear?  You did not sell out 500-900 range?  Time to rethink that strategy!

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January 14, 2015, 06:10:11 PM
 #18

I've shutdown all my miners, at $0.15 per kw it's just not worth it. I'm on the fence whether or not I sell my rigs.
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January 14, 2015, 09:48:39 PM
 #19

are big farm making money, with the current price? would be interesting to know if they will shut down too
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January 14, 2015, 11:39:18 PM
 #20

are big farm making money, with the current price? would be interesting to know if they will shut down too

Only if their power is .02 per kwh  Roll Eyes

I'm hoping BTC will stay low for a few months to "weed" out these corp miners  Grin

Come on $100 or lower even  Wink

I'm in LTC with 35mh,I'll run em till they burn!!!  Cheesy

May even get my GPU's back up for x 15 or something  Roll Eyes

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January 15, 2015, 12:36:04 AM
 #21

What I find funny is that the more people turning off hardware right now the harder it makes for the rest of the network to survive. If we lose 50% of the hashpower tomorrow it will take 1 month to get to the next difficulty re-target which will make it harder for miners to pay the power fees.

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January 15, 2015, 12:39:27 AM
 #22

What I find funny is that the more people turning off hardware right now the harder it makes for the rest of the network to survive. If we lose 50% of the hashpower tomorrow it will take 1 month to get to the next difficulty re-target which will make it harder for miners to pay the power fees.

Flashnews, people are serving their own interest first.

Are you shocked ?
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January 15, 2015, 12:52:54 AM
 #23

I do not mine myself. But I want to know if some miners here can answer me. How this new crazy low price of bitcoin affected your mining? Is is even possible to earn something?
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January 15, 2015, 01:28:06 AM
 #24

I do not mine myself. But I want to know if some miners here can answer me. How this new crazy low price of bitcoin affected your mining? Is is even possible to earn something?

Hold BTC & wait for the "rise"  Roll Eyes

"If you run into an asshole in the morning, you ran into an asshole. If you run into assholes all day long, you are the asshole."  -Raylan Givens
Got GOXXED ?? https://www.youtube.com/watch?v=9KiqRpPiJAU&feature=youtu.be
"An ASIC being late is perfectly normal, predictable, and legal..."Hashfast & BFL slogan Smiley
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January 15, 2015, 01:32:31 AM
 #25

If you want to sell your ASICs please contact me!

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January 15, 2015, 02:21:34 AM
 #26

If you want to sell your ASICs please contact me!

Me too  Grin
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January 15, 2015, 02:22:22 AM
 #27

I do not mine myself. But I want to know if some miners here can answer me. How this new crazy low price of bitcoin affected your mining? Is is even possible to earn something?

Hold BTC & wait for the "rise"  Roll Eyes

I dont know about everyone else but I just bought a tone of BTC on the crash so I think keep mining and hold is the in it to win it game
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January 15, 2015, 04:13:11 AM
 #28

Ok all you saying "please contact me for selling ASICs", I have a few Antminer S3's for sale.

I'm in Vancouver, BC Canada
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January 15, 2015, 07:02:48 AM
 #29

are big farm making money, with the current price? would be interesting to know if they will shut down too

Only if their power is .02 per kwh  Roll Eyes

I'm hoping BTC will stay low for a few months to "weed" out these corp miners  Grin

Come on $100 or lower even  Wink

I'm in LTC with 35mh,I'll run em till they burn!!!  Cheesy

May even get my GPU's back up for x 15 or something  Roll Eyes

I pay 0.07. My prismas pay their power in 7-10 days for the month right now
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January 15, 2015, 07:06:18 AM
 #30

I am ramping up. As people are shutting down their farms, I am buying their equipment cheap and standing them up to mine.  Everything Antminer, KNC, Bitmine, Gridseed if it exists I am mining with it.

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LTC LKXYdqRzRC8WciNDtiRwCeb8tZtioZA2Ks
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January 15, 2015, 02:37:32 PM
 #31

I am thinking to start with mining again. Not for profit, just to support network. I am from Europe, looking for reasonable miner.
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January 15, 2015, 04:19:39 PM
 #32

bitcoin mining is done for sure, with the last dump, but other type of mining are still running good or not as a bad as btc
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January 15, 2015, 05:13:06 PM
 #33

bitcoin mining is done for sure, with the last dump, but other type of mining are still running good or not as a bad as btc
... Meanwhile, price has gone up $20 in the last twelve hours.

¯\_(ツ)_/¯
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January 15, 2015, 07:11:05 PM
 #34

Ok all you saying "please contact me for selling ASICs", I have a few Antminer S3's for sale.

I'm in Vancouver, BC Canada

How many of them? And what price for each or bulk?

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January 15, 2015, 09:28:14 PM
 #35

... Meanwhile, price has gone up $20 in the last twelve hours.

¯\_(ツ)_/¯

Time to turn some miners back on!

Buy & Hold
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January 15, 2015, 09:56:07 PM
 #36

are big farm making money, with the current price? would be interesting to know if they will shut down too

Only if their power is .02 per kwh  Roll Eyes

I'm hoping BTC will stay low for a few months to "weed" out these corp miners  Grin

Come on $100 or lower even  Wink

I'm in LTC with 35mh,I'll run em till they burn!!!  Cheesy

May even get my GPU's back up for x 15 or something  Roll Eyes

agree 100%
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January 15, 2015, 09:58:07 PM
 #37

Ok all you saying "please contact me for selling ASICs", I have a few Antminer S3's for sale.

I'm in Vancouver, BC Canada

What price with shipping.  PM plz
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January 15, 2015, 10:02:52 PM
 #38

Time to turn some miners back on!
In all seriousness, I finally laid my first gen BitFury rigs to rest a couple days ago. Will probably be putting up ~1.5THs of BitFury boards and controllers up for sale early next week. Still have a single S2 running that I'm looking to decommission at some point in the near future.
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January 15, 2015, 10:12:14 PM
 #39

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?
Worst was cloudmining services shutting down . btw is CEX refunding the amounts ?

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January 16, 2015, 04:36:16 AM
 #40

I've got an Antminer S4, just 2 months old I'll sell. I'm in Tennessee. PM if interested.
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January 16, 2015, 05:47:22 AM
 #41

I've got an Antminer S4, just 2 months old I'll sell. I'm in Tennessee. PM if interested.

Like rats fleeing a ship, because some water splashed onboard.

It's been a few day's. Wait. lol
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January 17, 2015, 06:57:47 AM
 #42

Yep, many miners being turned off which will mean less btc production which should also mean more btc value.  well... eventually.  We'll just have to see how sweet btc is made if more people accept it and it can be more valuable to accumulate then miners may return.  For now... many are out of the mining fun unless they don't care about losing money or don't have to pay electric.

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January 17, 2015, 01:49:18 PM
 #43

My miner setup is minimal. A Jalapeno, a few Block Eruptors (not in use until I get a new USB hub), and I just received a second hand Antminer S3 yesterday which is powering through computations nicely.

My small mining effort is because I enjoy Bitcoins as a concept and want to be part of something that is different and I find interesting. I don't mine to make a profit but regaining some capital is nice. Even though electricity costs are technically higher than income from a Jalapeno and even questionable for an S3, I want to be part of the BTC community.

Now it's cold in my office I wouldn't mind some more miners, might get a few bits by running some miners instead of heaters... BRRR!
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January 17, 2015, 01:59:37 PM
 #44

I switched out all my s-3's to  8 sp20's and 1 s-5
My winter power is 13 cents but  get about 3 cents in savings from the heat.
So I am 10 cents net until April.
Price drops under 100 and stays there for 1 month  I will shut down.
I may use the s-5 at freq 100 and solo mine it. Until it dies.

I run 10-12gh at a solo pool will run that till the gear dies as the cost is low.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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January 17, 2015, 04:07:57 PM
 #45

I switched out all my s-3's to  8 sp20's and 1 s-5
My winter power is 13 cents but  get about 3 cents in savings from the heat.
So I am 10 cents net until April.
Price drops under 100 and stays there for 1 month  I will shut down.
I may use the s-5 at freq 100 and solo mine it. Until it dies.

I run 10-12gh at a solo pool will run that till the gear dies as the cost is low.

Do you think you can be lucky with 12 gh ?? Im wondering because I also got a small setup of 12gh

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January 17, 2015, 05:15:32 PM
 #46

I switched out all my s-3's to  8 sp20's and 1 s-5
My winter power is 13 cents but  get about 3 cents in savings from the heat.
So I am 10 cents net until April.
Price drops under 100 and stays there for 1 month  I will shut down.
I may use the s-5 at freq 100 and solo mine it. Until it dies.

I run 10-12gh at a solo pool will run that till the gear dies as the cost is low.

Do you think you can be lucky with 12 gh ?? Im wondering because I also got a small setup of 12gh
It's possible, but your chances of finding a block with 12Gh/s in your lifetime is extremely small.
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January 18, 2015, 04:29:05 AM
 #47

It's possible, but your chances of finding a block with 12Gh/s in your lifetime is extremely small.

Low cost, but high reward. Not a bad idea.

Buy & Hold
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January 18, 2015, 02:42:59 PM
 #48

I have just logged in to zenminer. Apparently 90% of my income goes to cover maintenance fees  Roll Eyes
Luckily I don't have much (wasted) mining power there.
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January 18, 2015, 02:48:33 PM
 #49

I have just logged in to zenminer. Apparently 90% of my income goes to cover maintenance fees  Roll Eyes
Luckily I don't have much (wasted) mining power there.

not only at zenminer
zeus, genesis allready minus for Mhs cloud

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January 18, 2015, 02:51:53 PM
 #50

Before you all decide to switch off please read this thread. https://bitcointalk.org/index.php?topic=924727.msg10152686#msg10152686

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January 18, 2015, 03:29:14 PM
 #51

Before you all decide to switch off please read this thread. https://bitcointalk.org/index.php?topic=924727.msg10152686#msg10152686

so the diff is rising even with the current price? another reason to turn if off
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January 18, 2015, 08:08:17 PM
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I think there is a big lag for significant hash rate to "disappear for good". I expect many big mining firms may well have negotiated a better rate for electricity, but with a penalty if they don't actually use the electricity they contracted for. Electric companies just love a predictable load. In that case, they may well lose less money by continuing to mine at a an operating loss. In general home miners aren't constrained in that way, but it seems unlikely we'll be able to detect home miners turning off gear. My miniscule 100GH/s will not be noticed, along with another 5000 folks like me.
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January 18, 2015, 09:45:26 PM
 #53

I've sold two of my miners, both of which were not efficient at all. The reason for sale was to move across to two yukon or two S5 units. With the current value of BTC, it is still worth it if you can keep power costs down. I can cut my costs in half by switching miners.

My miners definitely don't run full time like they used to and I am finding my self investing my btc into mining contracts rather than actually mining.

If I get solar power installed in the next month, I will full time mine again(summer here and the system we got quoted for will generate up to 20kw per day).

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January 18, 2015, 10:28:55 PM
 #54

20 kw per day is huge man.

Hope you will create a topic on that. I want to see this.  Grin

Go SOLAR ftw!

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January 19, 2015, 03:19:58 AM
 #55

Ain't gonna lie, starting to think about shutting down, putting my wallet into cold storage, and forget about Bitcoin for a decade.

wait, so you've not used cold storage? lol you're too brave.


Well, I too have not bother maintaining a wallet in cold storage.  In the other token I am a professional computer tech and network administrator, knows how to keep my computer secure, I am the sole user of the computer where bitcoin is installed.  However, I do keep backups of my strongly 44 characters password protected wallet.dat on multiple media because hard drives crashes can turn to get outside my control in terms of data recovery depending on the severity of the crash - not taking any chances there.

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January 19, 2015, 09:11:03 AM
 #56

Ain't gonna lie, starting to think about shutting down, putting my wallet into cold storage, and forget about Bitcoin for a decade.

wait, so you've not used cold storage? lol you're too brave.


Well, I too have not bother maintaining a wallet in cold storage.  In the other token I am a professional computer tech and network administrator, knows how to keep my computer secure, I am the sole user of the computer where bitcoin is installed.  However, I do keep backups of my strongly 44 characters password protected wallet.dat on multiple media because hard drives crashes can turn to get outside my control in terms of data recovery depending on the severity of the crash - not taking any chances there.

44 characters password is basically impossible to hack or brute force. Be sure you don't forget your own password like the 123 bitcoiners does.

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January 19, 2015, 02:37:09 PM
 #57

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

What about in 10 days if the price is at 250$ and the difficulty will go down?
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January 19, 2015, 08:57:03 PM
 #58

Solar is definitely the way to go if you can afford a $30,000 solar system. 

I’ve been looking into Proof of Stake altcoins like NXT.org.  Both systems have their issues but PoS doesn’t have the need for massive equipment and power requirements that Proof of Work altcoins need to function.  PoS makes more sense to me since people are invested in the currency, not the equipment & power needed to support it.

Yet ONLY pos, can lead to holding and not using it as an currency.

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January 19, 2015, 08:59:11 PM
 #59

20 kw per day is huge man.

Hope you will create a topic on that. I want to see this.  Grin

Go SOLAR ftw!

Solar is definitely the way to go if you can afford a $30,000 solar system. 

I’ve been looking into Proof of Stake altcoins like NXT.org.  Both systems have their issues but PoS doesn’t have the need for massive equipment and power requirements that Proof of Work altcoins need to function.  PoS makes more sense to me since people are invested in the currency, not the equipment & power needed to support it.
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January 19, 2015, 09:46:33 PM
 #60

20 kw per day is huge man.

Hope you will create a topic on that. I want to see this.  Grin

Go SOLAR ftw!

Solar is definitely the way to go if you can afford a $30,000 solar system. 

I’ve been looking into Proof of Stake altcoins like NXT.org.  Both systems have their issues but PoS doesn’t have the need for massive equipment and power requirements that Proof of Work altcoins need to function.  PoS makes more sense to me since people are invested in the currency, not the equipment & power needed to support it.

You might want to commit yourself for a few years down the line before you go about buying a solar system specially for mining.

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January 19, 2015, 09:52:16 PM
Last edit: January 19, 2015, 11:28:53 PM by mmsmears
 #61

Solar is definitely the way to go if you can afford a $30,000 solar system.  

I’ve been looking into Proof of Stake altcoins like NXT.org.  Both systems have their issues but PoS doesn’t have the need for massive equipment and power requirements that Proof of Work altcoins need to function.  PoS makes more sense to me since people are invested in the currency, not the equipment & power needed to support it.

Yet ONLY pos, can lead to holding and not using it as an currency.

Like I said “Both systems have their issues”.  Many people wish that more were holding Bitcoins now to stabilize the value. People want their currency value to remain stable not fluctuate wildly like a commodity stock.  

The current situation is a clear example of problems the Bitcoin network will face in the future. Miners only continue to operate when it’s profitable. Bitcoin value will always be tied to operating costs of people, equipment, facilities & energy.

Will their be enough individuals running long term hashing power to support network transactions for free when mining is over?

Will the system eventually transform into something centralized that will charge transaction fees to support operating costs?  Which would be exactly like the banking system that we have today.
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January 19, 2015, 11:57:39 PM
 #62

It wouldn't be logical to spend $10000+ on a solar system if its only for mining. Our quarterly bills here are about $600. A good solar system can offset this and potentially pay for it self in a few years. Its an investment I wish I'd have done a long time ago but technology has improved and prices have halved.

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January 20, 2015, 09:21:18 AM
 #63

20 kw per day is huge man.

Hope you will create a topic on that. I want to see this.  Grin

Go SOLAR ftw!

Solar is definitely the way to go if you can afford a $30,000 solar system. 

I’ve been looking into Proof of Stake altcoins like NXT.org.  Both systems have their issues but PoS doesn’t have the need for massive equipment and power requirements that Proof of Work altcoins need to function.  PoS makes more sense to me since people are invested in the currency, not the equipment & power needed to support it.

You might want to commit yourself for a few years down the line before you go about buying a solar system specially for mining.

Wouldn't it be simpler and more economical to simply sell the electricity you generate from solar?
If you invest into solar AND mining equipment, your mining income will have to cover the initial investment and running costs of both. I haven't done any calculations on this, but for me this implies a longer payback period. It's different ofc if you already have either of the 2 systems running.

I'd personally do an analysis for myself about what's better? To invest 30K (today) into solar or buy electricity (today and in the future) for my miners for the same cost for x days/months/years.
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January 20, 2015, 01:00:37 PM
 #64

btc is dead.
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January 20, 2015, 01:01:30 PM
 #65

btc is dead.

Why are you still here if BTC is dead ??  Wink

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January 20, 2015, 01:14:06 PM
 #66

btc is dead.

DEAD
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January 20, 2015, 01:16:15 PM
 #67

Really nice to discuss with you. Full of nice points.

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January 21, 2015, 06:04:40 AM
 #68

Go on...
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January 21, 2015, 09:57:58 AM
 #69

What is wrong with you guys? The Bitcoin has never been more alive. Just look at the zillion good things happening in the industry right now. Moreover, there is version 1.0 of the Bitcoin coming down the road, and then you will (finally) see how well Bitcoin is doing. Also, don't forget about it's temendous marketing advantage -- basically no one on earth has ever heard of the Litecoin or one of the other altcoins. Happy 2015!
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January 21, 2015, 01:25:52 PM
 #70

20 kw per day is huge man.

Hope you will create a topic on that. I want to see this.  Grin

Go SOLAR ftw!

Solar is definitely the way to go if you can afford a $30,000 solar system. 

I’ve been looking into Proof of Stake altcoins like NXT.org.  Both systems have their issues but PoS doesn’t have the need for massive equipment and power requirements that Proof of Work altcoins need to function.  PoS makes more sense to me since people are invested in the currency, not the equipment & power needed to support it.

You might want to commit yourself for a few years down the line before you go about buying a solar system specially for mining.

Wouldn't it be simpler and more economical to simply sell the electricity you generate from solar?
If you invest into solar AND mining equipment, your mining income will have to cover the initial investment and running costs of both. I haven't done any calculations on this, but for me this implies a longer payback period. It's different ofc if you already have either of the 2 systems running.

I'd personally do an analysis for myself about what's better? To invest 30K (today) into solar or buy electricity (today and in the future) for my miners for the same cost for x days/months/years.

Strongly agree, based on my calculation, selling back the energy to the grid giving me more profit then mining, plus you don't need to pay for ASICs.

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January 21, 2015, 04:02:47 PM
 #71

This increasing in difficulty of Bitcoin make me to Turn-off my Miner... Tongue Smiley Smiley
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January 23, 2015, 03:06:57 PM
 #72

This increasing in difficulty of Bitcoin make me to Turn-off my Miner... Tongue Smiley Smiley

Bitcoin Difficulty:    43,971,662,056
Estimated Next Difficulty:    42,480,731,132 (-3.39%)

https://bitcoinwisdom.com/bitcoin/difficulty The difficulty is going down and the profits will go up as the bitcoin price is recovering!
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January 23, 2015, 03:16:03 PM
 #73

Quite often (For me atleast) the highest profit I have made mining was when it was unprofitable at the time. For example back a hile ago I may have been able to mine maybe 0.1 a week on a small home operation with low ish starting costs but due to the price at the time it was not worthwhile. Now imagine if I had kept that going and maybe mate a couple bitcoin? If I sold at the right time $2k for a small gpu based rig.
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January 23, 2015, 03:17:55 PM
 #74

Quite often (For me atleast) the highest profit I have made mining was when it was unprofitable at the time. For example back a hile ago I may have been able to mine maybe 0.1 a week on a small home operation with low ish starting costs but due to the price at the time it was not worthwhile. Now imagine if I had kept that going and maybe mate a couple bitcoin? If I sold at the right time $2k for a small gpu based rig.

This! I used to mine altcoins in a sort of similar manner and could have mad a killing based of the price increases at the time. Especially in litecoin.

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January 23, 2015, 06:35:09 PM
 #75

I say we just shut the forum down for a day or two every week. It seems to work wonders for the price.

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January 24, 2015, 02:41:46 AM
 #76

prices are going back up a bit these last few days, looks like miners will come back
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January 27, 2015, 10:28:23 AM
 #77

Turned my S3 back on. Small profit or break even but plan on holding BTC so see how it goes.  Huh

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January 27, 2015, 10:34:38 AM
 #78

all of my S3 alive now
back from the dead
since price is up it will got a little profit Smiley
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January 28, 2015, 03:45:41 PM
 #79

If I was mining farm owner, I would shut down my farm if the price gets below X BTC, because I need to sell those BTC to cover my electricity cost in fiat, clear.

But if I'm an average bitcoin miner with a couple ASICs maybe, and I'm expecting the price to go up anyway, why would I ever shut down my miners? Do you really convert your earnings immediately and then pay your bills with that? If not, isn't it nonsense to turn off miners?
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January 29, 2015, 01:19:27 AM
 #80

But if I'm an average bitcoin miner with a couple ASICs maybe, and I'm expecting the price to go up anyway, why would I ever shut down my miners? Do you really convert your earnings immediately and then pay your bills with that? If not, isn't it nonsense to turn off miners?

My goal is to invest a set amount of fiat every month increasing my btc stash. I do that mining and buying. When mining becomes less productive than simply buying btc, the miners get turned off and I start buying instead.

Buy & Hold
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January 29, 2015, 09:44:34 AM
 #81

But if I'm an average bitcoin miner with a couple ASICs maybe, and I'm expecting the price to go up anyway, why would I ever shut down my miners? Do you really convert your earnings immediately and then pay your bills with that? If not, isn't it nonsense to turn off miners?

My goal is to invest a set amount of fiat every month increasing my btc stash. I do that mining and buying. When mining becomes less productive than simply buying btc, the miners get turned off and I start buying instead.

Ok, in this case I got it. Buy if its cheaper to buy.
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January 29, 2015, 01:23:18 PM
 #82

all of my S3 alive now
back from the dead
since price is up it will got a little profit Smiley

All S3 back to dead for me..

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January 29, 2015, 04:15:38 PM
 #83

With the price which falls, I think that it is completely useless to mine for the moment, with the difficulty.. Some Cloud Mining companies are probably going down too soon, zeushash !?
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January 31, 2015, 10:32:30 AM
 #84

 We are seeing a big increase in difficulty......maybe it led to my miner turning off!!! Sad
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January 31, 2015, 11:35:03 AM
 #85

We are seeing a big increase in difficulty......maybe it led to my miner turning off!!! Sad

Maybe it's a combinaison of the network being a bit unlucky and more power coming to the network.
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January 31, 2015, 11:35:35 AM
 #86

We are seeing a big increase in difficulty......maybe it led to my miner turning off!!! Sad

By the way the previous difficulty change was a decrease :

https://bitcoinwisdom.com/bitcoin/difficulty
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February 01, 2015, 06:04:34 AM
 #87

The difficulty to begin with was already too high. Bitcoin was on a steady decline over the months and it hit rock bottom a week ago. I stopped mining a bit ago, but I don't blame anyone for stopping now while they're ahead. Saving the Bitcoin while paying for the mining, which I have seen some do, is a horrible idea. The charges will keep racking up while the BTC never rises up in price. For me, it was nice while it lasted, I'm sure it was for you too.

By the way the previous difficulty change was a decrease :

https://bitcoinwisdom.com/bitcoin/difficulty

It was minimum. Nothing too notable or to make a difference in OP's case.

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February 01, 2015, 07:13:21 PM
 #88

about time. Idk how it's even worth the energy costs
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February 02, 2015, 02:11:11 PM
 #89

I was really happy to buy my antminer s3 on september, i knew that ROI was gonna be impossible but mining is so much fun, to know that you are mining is.. awesome Tongue, had to turn them off and I'm just setting up some nodes to help the network.
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February 02, 2015, 02:47:15 PM
 #90

I'm just setting up some nodes to help the network.

Thinking of doing the same because my miner runs only occasionally for (gamble) solo mining.
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February 02, 2015, 06:20:10 PM
 #91

send me your miners and i will plug them and send you some satoshis xD.. i have "free" electricty xD
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February 02, 2015, 06:21:48 PM
 #92

By the end of the week, I'll be retiring my lone S2 and all my S3's; only running SP20's and S5's.

Starting to feel like an end of an era...
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February 02, 2015, 06:31:26 PM
 #93

By the end of the week, I'll be retiring my lone S2 and all my S3's; only running SP20's and S5's.

Starting to feel like an end of an era...

yeah does not look good.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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February 02, 2015, 06:36:01 PM
 #94

it's such a shame reading that a lot of miners are going to shut them down.. i have 3 SP20s running smoothly and i only pay like $3 per month in electricity.. luckly the goverment have fixed the issue with that Cheesy
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February 03, 2015, 07:24:13 AM
 #95

I think home miners quitting the mining business also has effects on the bitcoin economy as a whole. In the 2013 BTC boom hardware was solely bought with BTC, fuelling the rising prices of BTC. In 2013 und 2014 I spent most of my BTC at buying hardware. After my miners were obsolete in spring last year I did not need additional BTC. So I kept my BTC except some humblebundle purchases. So loosing the home miners is not a good prospect for bitcoin.
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February 04, 2015, 07:58:34 AM
 #96

I think home miners quitting the mining business also has effects on the bitcoin economy as a whole. In the 2013 BTC boom hardware was solely bought with BTC, fuelling the rising prices of BTC. In 2013 und 2014 I spent most of my BTC at buying hardware. After my miners were obsolete in spring last year I did not need additional BTC. So I kept my BTC except some humblebundle purchases. So loosing the home miners is not a good prospect for bitcoin.

Home miners, are bitcoin users, those big bitcoin farms are not bitcoin users, they're abusers and dumpers. I can't wait til they decide to boot them self off the network.

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February 04, 2015, 08:09:47 AM
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it's such a shame reading that a lot of miners are going to shut them down.. i have 3 SP20s running smoothly and i only pay like $3 per month in electricity.. luckly the goverment have fixed the issue with that Cheesy

$3 per month for 3 SP20
you are lucky to be born at your country dude
btw what country are you live ?
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February 04, 2015, 10:27:38 AM
 #98

it's such a shame reading that a lot of miners are going to shut them down.. i have 3 SP20s running smoothly and i only pay like $3 per month in electricity.. luckly the goverment have fixed the issue with that Cheesy

$3 per month for 3 SP20
you are lucky to be born at your country dude
btw what country are you live ?

The country of doesn't exist Grin, turkmenistan has free electricity for its citizens though

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February 05, 2015, 01:20:03 AM
 #99

By the end of the week, I'll be retiring my lone S2 and all my S3's; only running SP20's and S5's.

Starting to feel like an end of an era...

How is the noise between the S2 and the S3?

Someone is selling an S2 on the classifieds and wondering if its worth getting as a home miner.






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February 05, 2015, 01:22:44 AM
 #100

it's such a shame reading that a lot of miners are going to shut them down.. i have 3 SP20s running smoothly and i only pay like $3 per month in electricity.. luckly the goverment have fixed the issue with that Cheesy

$3 per month for 3 SP20
you are lucky to be born at your country dude
btw what country are you live ?

Venezuela man.. i made a bad calculation.. it's $6 bucks
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February 05, 2015, 02:17:04 AM
 #101

How is the noise between the S2 and the S3?
For the sake of argument, the S2 and S3 are about the same volume.
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February 05, 2015, 05:34:48 AM
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A bunch of S3s all stacked together will be bothersome. Best to keep them in a separate room.

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February 06, 2015, 01:08:10 AM
 #103

Currently have my S2 in the room next to mine and actually its not even noticeable. If you had multiple S2's (or S3's) then yeah... I could see how it could be bothersome. I do have a BFL SC 60 and umm... The S2 is a lot less noticeable thanks to there not being a whine sound.

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February 10, 2015, 10:39:22 AM
 #104

With the new increase in difficulty and the super low price I think it is time to shut down my S3+ again. I hope the price recovers but I don't think it will.

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February 10, 2015, 11:03:28 AM
 #105

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

sorry to hear that. BTC will acquire value if it's constantly backed up by miners and nodes.
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February 10, 2015, 11:21:01 AM
 #106

I've only been renting power. Too expensive to run @ current price.

https://blockchain.info/pools

Look how much the Unknown slice has grown. It used to be tiny. Difficulty going up another 6%. It would appear there are huge private setups running.

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February 10, 2015, 12:35:14 PM
 #107

Its not a good thing to turn off miners.....because it is my earning source Smiley Grin
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February 10, 2015, 02:43:47 PM
 #108

Look how much the Unknown slice has grown. It used to be tiny. Difficulty going up another 6%. It would appear there are huge private setups running.

Yeah, it is this kind of industrial mining that finally drives me away from BTC  Angry

Having home miners was one part of BTC that I enjoyed. All over for months now. The other part was being part of a new and more democratic way of payment. That was probably naive but I nonetheless did appreciate it. For a while now bitcoin just feels like greedy mafia business and third world money making machine. For the mafia part: not only do asic producers try to rip you off but also cloud miners and payment exchanges. And for the third world: throw coal in on the one side and feed btc miners on the other side; let's not talk about ecological consequences.

From my GPU times till now bitcoin has turned from hobbiest enjoying themselves into a twisted Lovecraft version modern currencies. Two years ago I would encourage people to try bitcoins, try mining and try being part of the community. But nowadays I would say stay away. There is nothing (positive) to experience anymore. Rip off and industrial mining await you  Undecided I mean I actually think it is fair to pay a few percentage points when using paypal and not having to deal with all that bitcoin hassle.

I think now is time for me to also turn off my bitcoin node I've been running since my miners were turned off. It just makes no sense to give anything back anymore.  Cry
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February 10, 2015, 03:18:54 PM
 #109

With the new increase in difficulty and the super low price I think it is time to shut down my S3+ again. I hope the price recovers but I don't think it will.

I took a couple S3's that have been replaced with SP20's and decided to swap out the fans for silent ones, and downclock two of them to 150mhz doing ~300GH/s each @ ~242W.

Kinda sucks that the efficiency doesn't scale better on the S3's as you clock them lower Sad Was a bit disappointed to see that.
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February 11, 2015, 03:32:00 AM
 #110

I'm guessing this is why the difficulty has been going up and down the last few adjustments.

Some people (and perhaps farms) are shutting down. Then when they see the difficulty adjust slightly lower, they power up again. Then the next adjustment goes up slightly. Just back and forth until they decide to get out of the business entirely.

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February 11, 2015, 05:50:15 AM
 #111

Look how much the Unknown slice has grown. It used to be tiny. Difficulty going up another 6%. It would appear there are huge private setups r
unning.

Yeah, it is this kind of industrial mining that finally drives me away from BTC  Angry

Having home miners was one part of BTC that I enjoyed. All over for months now. The other part was being part of a new and more democratic way of payment. That was probably naive but I nonetheless did appreciate it. For a while now bitcoin just feels like greedy mafia business and third world money making machine. For the mafia part: not only do asic producers try to rip you off but also cloud miners and payment exchanges. And for the third world: throw coal in on the one side and feed btc miners on the other side; let's not talk about ecological consequences.

From my GPU times till now bitcoin has turned from hobbiest enjoying themselves into a twisted Lovecraft version modern currencies. Two years ago I would encourage people to try bitcoins, try mining and try being part of the community. But nowadays I would say stay away. There is nothing (positive) to experience anymore. Rip off and industrial mining await you  Undecided I mean I actually think it is fair to pay a few percentage points when using paypal and not having to deal with all that bitcoin hassle.

I think now is time for me to also turn off my bitcoin node I've been running since my miners were turned off. It just makes no sense to give anything back anymore.  Cry


This isn't any different in fiat, we get ripped of every day, apple, google, facebook etc etc

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February 11, 2015, 06:05:40 AM
 #112

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

sorry to hear that. BTC will acquire value if it's constantly backed up by miners and nodes.

I don't think it adds value if the cost of electricity surpasses the value of the BTC mined. I actually think it decreases BTC's value overall if it is just wasting resources and money.

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February 12, 2015, 06:30:28 PM
 #113

I just shut down some KNCMiners that have been profitable for the past 14 months, and actually managed a positive ROI on those I received in November 2013.  All of my S2s and S3s ROI'd as well. 

I sold all 20 of my S3s, and upgraded to 6 X S5s, which I plan to run in my apartment until they're insanely unprofitable (or until summer hits, and I can't justify them anymore).  I'm not sure if they'll ever ROI, but if the hash rate continues its plateau, then there's a good chance of ROI (eventually).

They make great space heaters, and I definitely prefer large power bills when they're offset by BTC earnings vs. just paying for electrical heating.  It would be amazing if they could last 2 winters.

I reinvested some of my profit into Umisoo-hosted miners, and I've also been testing out some cloud mining contracts for a few months now.

So although I'm reducing my overall at-home hash rate, I'm adding a bit of cloud mining to offset the reduction - assuming that all of the companies are actually mining, and aren't ponzi schemes like PBMining!
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February 12, 2015, 11:42:09 PM
 #114

Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.

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February 13, 2015, 03:23:31 AM
 #115

Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.

Time to buy real miner! S5 or SP20 or Avalon4  Grin

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February 13, 2015, 08:59:03 AM
 #116

Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.

Time to buy real miner! S5 or SP20 or Avalon4  Grin

Yeah, like 10 of them Wink I would have made an server room with 3 AC's, broem broem Grin

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February 13, 2015, 10:02:48 AM
 #117

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

Did you turn them back on?
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February 15, 2015, 05:10:05 AM
 #118

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

Did you turn them back on?

Yeah, I can justify them back on for a bit for some winter heating. This year-and-a-half price slump is getting annoying. I'm ready for the next moon trip.

Buy & Hold
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February 16, 2015, 07:09:28 PM
 #119

The only reason I'm keeping my miners on right now is because I don't have to worry about power and it's winter.  If summer hits and Bitcoin's price hasn't skyrocketed, these things will become nothing but novelty toys packed away in my closet.
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February 17, 2015, 01:30:54 PM
 #120

Hello,

GPUs are good but only if you know how to use them,this is my opinion.

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February 19, 2015, 11:15:02 AM
 #121

Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.


Cheap power and that is all you run? If my power was flat rate, one fee every quarter, I would be smashing it. At this point in time, if you bought say 3 S5 miners and ran them I still think you could make a couple BTC and sell the miners without a loss. You currently cannot buy S5 miners from Bitmain but you can buy them second hand for $100 more. Pretty confident there are large sales of Antminers straight from Bitmain for people to resell at a higher price once Bitmain is out.

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February 19, 2015, 04:47:41 PM
 #122

Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.


Cheap power and that is all you run? If my power was flat rate, one fee every quarter, I would be smashing it. At this point in time, if you bought say 3 S5 miners and ran them I still think you could make a couple BTC and sell the miners without a loss. You currently cannot buy S5 miners from Bitmain but you can buy them second hand for $100 more. Pretty confident there are large sales of Antminers straight from Bitmain for people to resell at a higher price once Bitmain is out.

If you don't pay for electricity, of course you will profit heavily from mining.
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February 19, 2015, 05:10:47 PM
 #123

Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.


Cheap power and that is all you run? If my power was flat rate, one fee every quarter, I would be smashing it. At this point in time, if you bought say 3 S5 miners and ran them I still think you could make a couple BTC and sell the miners without a loss. You currently cannot buy S5 miners from Bitmain but you can buy them second hand for $100 more. Pretty confident there are large sales of Antminers straight from Bitmain for people to resell at a higher price once Bitmain is out.

If you don't pay for electricity, of course you will profit heavily from mining.

No you won't because you have to pay for the equipment.





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February 19, 2015, 05:14:43 PM
 #124

Well, I am pretty sure I have a great scenario for Bitcoin mining since I don't pay for electric. All of my bills are included in a one month price, which is fairly cheap, as well... I have a Rockminer R-Box (older model) that mines at 30-34Gh/s overclocked a little.


Cheap power and that is all you run? If my power was flat rate, one fee every quarter, I would be smashing it. At this point in time, if you bought say 3 S5 miners and ran them I still think you could make a couple BTC and sell the miners without a loss. You currently cannot buy S5 miners from Bitmain but you can buy them second hand for $100 more. Pretty confident there are large sales of Antminers straight from Bitmain for people to resell at a higher price once Bitmain is out.

If you don't pay for electricity, of course you will profit heavily from mining.

No you won't because you have to pay for the equipment.

could also run into the case where the landlord starts questioning the tripling of the power bill. I remember reading an article back in the day about a guy who had free electricity and setup some GPUs to take a crack at mining (yes, that far back in the day), and apparently he had a LED-fan blowing on them to keep it cool, and his landlord saw the LED from the street and investigated or something, and ultimately the lease was terminated due to "testing of equipment" or something.

so, free electricity, sure... but don't wanna upset the landlord!

< Track your bitcoins! > < Track them again! > <<< [url=https://www.reddit.com/r/Bitcoin/comments/1qomqt/what_a_landmark_legal_case_from_mid1700s_scotland/] What is fungibility? >>> 46P88uZ4edEgsk7iKQUGu2FUDYcdHm2HtLFiGLp1inG4e4f9PTb4mbHWYWFZGYUeQidJ8hFym2WUmWc p34X8HHmFS2LXJkf <<< Free subdomains at moneroworld.com!! >>> <<< If you don't want to run your own node, point your wallet to node.moneroworld.com, and get connected to a random node! @@@@ FUCK ALL THE PROFITEERS! PROOF OF WORK OR ITS A SCAM !!! @@@@
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February 20, 2015, 09:57:42 PM
 #125

My blizzards are sleeping since this being this year..

2 x 1.4 MH/s normal blizzard   (batch 1!)
1 x 4.0 MH/s blizzard X6

They did cost me around 400 euro (including shipping and import tax) and alot on electricity and in total they mined maybe 50 litecoin Sad
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February 20, 2015, 10:34:44 PM
 #126

My blizzards are sleeping since this being this year..

2 x 1.4 MH/s normal blizzard   (batch 1!)
1 x 4.0 MH/s blizzard X6

They did cost me around 400 euro (including shipping and import tax) and alot on electricity and in total they mined maybe 50 litecoin Sad

Mining never really was and will be profitable, it's decentralization what it's all about!

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February 21, 2015, 09:19:56 AM
 #127

I turned all my miners off about 5 months ago. But recently powered up my s1's. With the cold weather figure I'd run them rather than a space heater in my office  Smiley

Jack
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February 21, 2015, 10:26:16 AM
 #128

I turned all my miners off about 5 months ago. But recently powered up my s1's. With the cold weather figure I'd run them rather than a space heater in my office  Smiley

Jack


I turned off all my S1's in October 2014. And sold them all in November for almost what I paid for them. So in the end, I got my ROI plus a bit of pocket change. I would say it's a good experience on learning about Bitcoins and mining, but I won't be doing it again any time soon.

I still have two modded HP server power supplies that I don't know what to do with. They're only worth about $10 or so on Ebay.



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February 21, 2015, 07:11:40 PM
 #129

The price is getting lower and lower. I had 300ghs on cex.io .. Last year i won a lot of bitcoin from mining with cex.io but now..cex is lost,mining with gpu by myself is useless..I'm going to alt coins
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February 22, 2015, 03:53:49 AM
 #130

Eventually it's going to get to the point where it will be pointless mining, the rewards are just not worth it anymore.
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February 22, 2015, 08:53:12 AM
 #131

Eventually it's going to get to the point where it will be pointless mining, the rewards are just not worth it anymore.

For me I am already there. Mining is just an even exchanges of power for bitcoins or more often a loss. It is cheaper to just buy bitcoin with fiat.

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February 25, 2015, 12:45:47 AM
 #132

I went from having 4 miners 2.8 th - to zero - sold them off on ebay and need bitcoin to go back to $600 if I will to have made money off the deal as electricity and cost of the miners happened when btc was over 500$ 

 Undecided

Same here, except with scrypt GPU's, when the asics came out.
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February 26, 2015, 08:51:26 PM
 #133

Well I'm expanding my mining.  Adding about 3TH per month.  Great deals out there on miners at the moment.

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February 26, 2015, 11:16:59 PM
 #134

Eventually it's going to get to the point where it will be pointless mining, the rewards are just not worth it anymore.

You need more power. And if the price of Bitcoin goes up, the price of electricity will go down.
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February 27, 2015, 05:10:34 AM
 #135

Turning more on to mine altcoins

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March 03, 2015, 08:33:19 AM
 #136

Eventually it's going to get to the point where it will be pointless mining, the rewards are just not worth it anymore.

You need more power. And if the price of Bitcoin goes up, the price of electricity will go down.

Unfortunately, difficulty is increasing faster then bitcoin goes up, so electricity price ratio is always going higher and higher.

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March 03, 2015, 12:08:13 PM
 #137

if you want to sell some SP20 or S4.. contact me Smiley
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March 04, 2015, 12:41:22 AM
 #138

It's funny seeing some people thinking that free electricity = profit. When you take into consideration deflation of the mining equipment, you most of the time end up losing, unless you have a way you can sell the equipment fast.
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March 04, 2015, 04:31:59 AM
 #139

Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.

=
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March 04, 2015, 12:45:53 PM
 #140

Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
why dont you sell the miners , and then later on buy an more updated ASIIC for the money ? imo this would be the most economic choice atleast.
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March 04, 2015, 06:46:58 PM
 #141

Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
why dont you sell the miners , and then later on buy an more updated ASIIC for the money ? imo this would be the most economic choice atleast.

You get nothing for the miners no days. Maybe get $50 to $100 at most for an  S1  old 80GH Avlaon maybe $20 if that lol and to compare with Antminer s5 are 370 USD for 1.1TH mining power so for 200GH miner going to get what a fraction so its pointless to sell on when can use it to mine towards other coins when they come out and make that 10x over when the coin goes to exchange. It is far better to keep and m ine the odd few days here and their with antminers than to sell for next to nothing.

=
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March 04, 2015, 06:52:55 PM
 #142

I hope more and more miners get shut off, especially the large farms.  I'd like to see mining done mainly by individuals and pools of individuals, not large-scale industrial facilities.
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March 04, 2015, 07:39:40 PM
 #143

I hope more and more miners get shut off, especially the large farms.  I'd like to see mining done mainly by individuals and pools of individuals, not large-scale industrial facilities.

Would be nice for that to happen but seems more company's been jumping on it seen on news the other week that one company has gone bust due to buying millions of $ worth of equipment and it was working out good for them then comes the bills for them and they had to cease business and turn off some kept running to squeeze the last bits of profit out of it but most are seeing that it is only profitable if prices sustain them self and energy is  cheap. I only turn my lot on when needed now or when new coins come along and even then sometimes rent the hash power as its a lot cheaper to or just buy up the coins instead.

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March 05, 2015, 05:48:08 AM
 #144

Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
why dont you sell the miners , and then later on buy an more updated ASIIC for the money ? imo this would be the most economic choice atleast.

When miners are obsolete for generating a profit, the consideration of having to pay shipping costs would ensure that the buyer would be more likely to incur a loss (in almost any case except where a buyer has free power).

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March 06, 2015, 06:00:44 AM
 #145

Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
why dont you sell the miners , and then later on buy an more updated ASIIC for the money ? imo this would be the most economic choice atleast.

You get nothing for the miners no days. Maybe get $50 to $100 at most for an  S1  old 80GH Avlaon maybe $20 if that lol and to compare with Antminer s5 are 370 USD for 1.1TH mining power so for 200GH miner going to get what a fraction so its pointless to sell on when can use it to mine towards other coins when they come out and make that 10x over when the coin goes to exchange. It is far better to keep and m ine the odd few days here and their with antminers than to sell for next to nothing.

im thinking s1's value is closer to $20. 
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March 06, 2015, 06:32:49 AM
 #146

Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
why dont you sell the miners , and then later on buy an more updated ASIIC for the money ? imo this would be the most economic choice atleast.

You get nothing for the miners no days. Maybe get $50 to $100 at most for an  S1  old 80GH Avlaon maybe $20 if that lol and to compare with Antminer s5 are 370 USD for 1.1TH mining power so for 200GH miner going to get what a fraction so its pointless to sell on when can use it to mine towards other coins when they come out and make that 10x over when the coin goes to exchange. It is far better to keep and m ine the odd few days here and their with antminers than to sell for next to nothing.

im thinking s1's value is closer to $20. 

I am actually surprised if S1 still have value, can't even break-even electricity cost. Who buy them anyway?

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March 06, 2015, 08:34:53 AM
 #147

What about alternative energy to power the equipment.
Wonder if there is even a calculation for that. Solar, wind etc. Huh
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March 07, 2015, 11:41:16 AM
 #148

I'm serious.. If you are wiling to sell any s4.. PM :-)
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March 09, 2015, 01:50:01 AM
 #149

All of my miners (ZeusMiner Blizzard, GridSeed Orb, AM S3+, 2 RockMiner New R-Boxes, and 2 RockMiner R-Boxes) are paid for and my electric is currently free... So I'm keeping mine running; I will for quite a while.

They're paid for by the government... I got a $2800 government Pell grant for college. $800 of which I didn't need to use for college.
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March 09, 2015, 01:53:26 AM
 #150

All of my miners (ZeusMiner Blizzard, GridSeed Orb, AM S3+, 2 RockMiner New R-Boxes, and 2 RockMiner R-Boxes) are paid for and my electric is currently free... So I'm keeping mine running; I will for quite a while.

They're paid for by the government... I got a $2800 government Pell grant for college. $800 of which I didn't need to use for college.

Nice way to start up and that you got free electric. Wonder how their bill looking with using more energy Tongue  is good to so no harm in mining at all as it will be free for you and generating coin.

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March 09, 2015, 02:49:31 AM
 #151

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

Ya, same thing happened to me.  Witht he oversaturation of the market, I am not making nearly enough for the combined effort and electricity bill to make sense.  I think a lot of people are going to be turning away from mining and finding other ways to get their bitcoin fix!

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March 09, 2015, 04:27:16 AM
 #152

The difficulty went down 0.2G, a sign of the times?
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March 09, 2015, 04:39:17 AM
 #153

What about alternative energy to power the equipment.
Wonder if there is even a calculation for that. Solar, wind etc. Huh

The high cost of buying and setting up a solar farm to power a btc farm would make it hard to justify with bitcoin not being the most stable thing in the world. It might even be a safer bet and more profitable to just set up a solar farm and sell power back to the city than it would be to use the power to mine depending on the scale of the mining operation.
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March 09, 2015, 06:46:50 AM
 #154

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

Ya, same thing happened to me.  Witht he oversaturation of the market, I am not making nearly enough for the combined effort and electricity bill to make sense.  I think a lot of people are going to be turning away from mining and finding other ways to get their bitcoin fix!

A lot of people should turn away from mining due to electricity bills, but a lot of them are mining at a loss and they give this reason "to secure the network".

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March 09, 2015, 03:52:03 PM
 #155

A lot of people should turn away from mining due to electricity bills, but a lot of them are mining at a loss and they give this reason "to secure the network".

I mine "at a loss" because I do it for hobby.  I only have about 300gh in gear I picked up for a song, so it's not like I could expect to make a profit with that, and I'm not going to spend the money on hardware that would net me a profit.  I'm mining because I find it fun, I'm happy that I am contributing to the network, and I do have a chance, ever so small, of solving a block.  Fun stuff!
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March 09, 2015, 09:30:43 PM
 #156

There is also the mentality that even if you are mining at a loss currently at the current bitcoin price in the future if the price goes up you could be making a profit.
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March 09, 2015, 09:34:10 PM
 #157

There is also the mentality that even if you are mining at a loss currently at the current bitcoin price in the future if the price goes up you could be making a profit.

Very true... technically speaking, pegging the price of BTC to USD and saying you're mining at a loss is a bit of a fallacy. If you hold BTC and the price relative to USD doubles, you didn't lose anything.
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March 09, 2015, 10:05:54 PM
 #158

There is also the mentality that even if you are mining at a loss currently at the current bitcoin price in the future if the price goes up you could be making a profit.

Very true... technically speaking, pegging the price of BTC to USD and saying you're mining at a loss is a bit of a fallacy. If you hold BTC and the price relative to USD doubles, you didn't lose anything.

Exactly if you say I am not going to sell until BTC reaches $500 then you would calculate your profits as if it were $500 so you can get the future profitability not the current one were you won't sell,
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March 10, 2015, 02:26:55 AM
 #159

There is also the mentality that even if you are mining at a loss currently at the current bitcoin price in the future if the price goes up you could be making a profit.

Very true... technically speaking, pegging the price of BTC to USD and saying you're mining at a loss is a bit of a fallacy. If you hold BTC and the price relative to USD doubles, you didn't lose anything.

Exactly if you say I am not going to sell until BTC reaches $500 then you would calculate your profits as if it were $500 so you can get the future profitability not the current one were you won't sell,

The theory is that if you are mining at a loss, you could easily stop the mining and use the loss to buy more bitcoin. You would get more bitcoin for the same amount of USD spend.

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March 10, 2015, 03:06:46 AM
 #160

There is also the mentality that even if you are mining at a loss currently at the current bitcoin price in the future if the price goes up you could be making a profit.

Very true... technically speaking, pegging the price of BTC to USD and saying you're mining at a loss is a bit of a fallacy. If you hold BTC and the price relative to USD doubles, you didn't lose anything.

Exactly if you say I am not going to sell until BTC reaches $500 then you would calculate your profits as if it were $500 so you can get the future profitability not the current one were you won't sell,

The theory is that if you are mining at a loss, you could easily stop the mining and use the loss to buy more bitcoin. You would get more bitcoin for the same amount of USD spend.

That makes sense assuming the person has the money to buy bit coins on the spot.
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March 11, 2015, 01:09:12 AM
 #161

Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
why dont you sell the miners , and then later on buy an more updated ASIIC for the money ? imo this would be the most economic choice atleast.

You get nothing for the miners no days. Maybe get $50 to $100 at most for an  S1  old 80GH Avlaon maybe $20 if that lol and to compare with Antminer s5 are 370 USD for 1.1TH mining power so for 200GH miner going to get what a fraction so its pointless to sell on when can use it to mine towards other coins when they come out and make that 10x over when the coin goes to exchange. It is far better to keep and m ine the odd few days here and their with antminers than to sell for next to nothing.
You would be lucky to get $50 for an S1 in my opinion. I see them going for $20, and then the rest of the price would most likely come from the shipping of the actual unit. Most people will not buy a large lot of S1's. Another large problem is actually finding people to buy your miners.
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March 11, 2015, 05:42:56 PM
 #162

I stopped mining too
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March 11, 2015, 06:07:23 PM
 #163

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?
Yes, difficulty / price ratio is killing miners.
My CPU only works for some Monero sometimes.
Others are off. No chance to gain a cent.

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March 11, 2015, 06:40:44 PM
 #164

You would be lucky to get $50 for an S1 in my opinion. I see them going for $20, and then the rest of the price would most likely come from the shipping of the actual unit. Most people will not buy a large lot of S1's. Another large problem is actually finding people to buy your miners.

I paid $19 for my S1, plus about that again in shipping.  I would not pay more.
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March 12, 2015, 02:29:52 AM
 #165

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?
Yes, difficulty / price ratio is killing miners.
My CPU only works for some Monero sometimes.
Others are off. No chance to gain a cent.
Bitcoin only exists because of the miners. Without, kinda loosing ... incentive.

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March 12, 2015, 02:37:40 AM
 #166

There is also the mentality that even if you are mining at a loss currently at the current bitcoin price in the future if the price goes up you could be making a profit.

Very true... technically speaking, pegging the price of BTC to USD and saying you're mining at a loss is a bit of a fallacy. If you hold BTC and the price relative to USD doubles, you didn't lose anything.

Exactly if you say I am not going to sell until BTC reaches $500 then you would calculate your profits as if it were $500 so you can get the future profitability not the current one were you won't sell,

The theory is that if you are mining at a loss, you could easily stop the mining and use the loss to buy more bitcoin. You would get more bitcoin for the same amount of USD spend.

That makes sense assuming the person has the money to buy bit coins on the spot.

If they have the money to pay their power bill, wouldn't they have money to buy the coins?
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March 12, 2015, 07:42:37 PM
 #167

Many people find mining enjoyable as it looks like your machine serves you to literaly mine some assets from an unavailable source, or create something from basis. Others may like all this hardware-related things. Now, as the home mining keeps becoming less and less reasonable, the question is how much money one can expend for all that fun.
And in comparison buying coins could be perceived as boring - within few minutes whole process is copleted. In that case I suggest to try trading.
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March 17, 2015, 02:39:10 PM
 #168

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

I turned off my mining rigs in december 2014. Now I only mine altcoins at launch, with cloud mining.
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March 18, 2015, 04:30:32 AM
 #169

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

I turned off my mining rigs in december 2014. Now I only mine altcoins at launch, with cloud mining.

how has that worked for you?  Sometimes I think about giving it a go with alts, then I remember how I threw away .25 BTC worth of mining power back in 2014 for a day on some 21 coin and I could never sell it for anything worthwhile. 

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March 19, 2015, 12:17:51 AM
 #170

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

I turned off my mining rigs in december 2014. Now I only mine altcoins at launch, with cloud mining.

how has that worked for you?  Sometimes I think about giving it a go with alts, then I remember how I threw away .25 BTC worth of mining power back in 2014 for a day on some 21 coin and I could never sell it for anything worthwhile. 

There are sites to help you choose the best coin at any given moment. If your'e on top of it, you might do well, as there are sometimes brief distortions with various alts, where you can swoop in, mine them, even for just a couple of hours, and make 5x or 6x what you would have gotten from mining a mainstream coin.

Most of those are Scrypt coins, though, not SHA256; of the SHA coins, generally BTC is the most valuable to mine...
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March 19, 2015, 01:05:54 AM
 #171

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

I turned off my mining rigs in december 2014. Now I only mine altcoins at launch, with cloud mining.

how has that worked for you?  Sometimes I think about giving it a go with alts, then I remember how I threw away .25 BTC worth of mining power back in 2014 for a day on some 21 coin and I could never sell it for anything worthwhile. 
42 coin was another coin like that. They were trading for more than a btc, but there was one 42 of them.
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March 19, 2015, 04:59:20 AM
 #172

After one year of mining, I just stopped my small time mining operation Smiley In the past 4 months, I was paying so much for power, my bills were so high, and I was barely making anything. Not even close to breaking even each month. Now I just buy direct, and cloud mine. I have to keep the feeling of getting new coins each day. I think I will turn on my miners maybe for a week each month (maybe).

But I will say what a year experience it has been. From being ripped off and miners never coming that I paid for from minersource/blackarrow (prospero x-1), and from cloud mining sites shutting down after 2 months of offering service (GAW miners).

I learned, and it's been fun, and I will say we are in the infancy stage of bitcoin. And I can see how it will stay around, and not go away anytime soon.

So I will be cloud mining on trusted sites, and buying my bitcoins for the foreseeable future. And having a lesser power bill Smiley With the money I save, it's more worth it to just direct purchase bitcoins. Right now that has the most value (to me anyway).
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March 19, 2015, 02:36:00 PM
 #173

The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?

I turned off my mining rigs in december 2014. Now I only mine altcoins at launch, with cloud mining.

how has that worked for you?  Sometimes I think about giving it a go with alts, then I remember how I threw away .25 BTC worth of mining power back in 2014 for a day on some 21 coin and I could never sell it for anything worthwhile. 

You should use a bot on altcoins announcements section, they are all potentially profitable if you start mining as soon as they are released. Then you can always sell on exchanges. Lots of coins today are immediately listed in sites like Yobit. For example, I'm keeping an eye on dragonsphere xdb now (https://bitcointalk.org/index.php?topic=986534), supported by manhattanmine and suprnova. For people like me who bought multi-gpu rigs a while ago it's a good chance to make profit.
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March 19, 2015, 06:15:34 PM
 #174

I recognize that Bitcoin isn't 100% perfect, that someone in theory could create something that poses legitimate competition. But 99% of the time when you see an alt coin announcemt, you can just tell it has no future. Yet people go off and mine it, and sell to others. Don't get it.
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March 19, 2015, 06:31:46 PM
 #175

I recognize that Bitcoin isn't 100% perfect, that someone in theory could create something that poses legitimate competition. But 99% of the time when you see an alt coin announcemt, you can just tell it has no future. Yet people go off and mine it, and sell to others. Don't get it.
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March 20, 2015, 07:05:16 AM
 #176

I recognize that Bitcoin isn't 100% perfect, that someone in theory could create something that poses legitimate competition. But 99% of the time when you see an alt coin announcemt, you can just tell it has no future. Yet people go off and mine it, and sell to others. Don't get it.

I have always wondered "who" is on the other side of the transaction when I sell an alt-coin? Who wants to give me Bitcoin, or better yet USD, for this alt-coin that I "mined"? That's why I could never see a long term model for the various GAW schemes that mined "X coin", but paid out in Bitcoins.
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March 20, 2015, 05:23:49 PM
 #177

Answer is simple, imho:

1) newbies
2) traders
3) whales
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March 21, 2015, 04:06:37 AM
 #178

Stopped mining a few months ago. Power costs too much. Cooling is an annoying overhead.


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March 24, 2015, 08:32:50 AM
 #179

Stopped mining a few months ago. Power costs too much. Cooling is an annoying overhead.

Selling any of your miners? Really interested in expanding my farm Smiley

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March 26, 2015, 08:33:33 PM
 #180

I dont home mine anymore, just a bit of cloud now. I think that currently besides cloud the only thing you can make money with is trading. Get a nice bot and skim profits.

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March 29, 2015, 05:48:49 PM
 #181

If any of you is willing to sell your miners.. Plz contact me.. I want to buy a few of them :-)
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April 21, 2015, 10:57:39 AM
 #182

The only time you should be turning your miners off is to power cycle them, lol.

Also, It's heading into winter here in Australia, so of cause we stacked a few s3's around the house to warm things up. BTC


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April 21, 2015, 02:44:38 PM
 #183

If anyone has a Avalon 4 or Spondoolies SP35 I might just be interested in taking it off your hands  Smiley

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April 21, 2015, 02:48:55 PM
 #184

If anyone has a Avalon 4 or Spondoolies SP35 I might just be interested in taking it off your hands  Smiley
got a SP31 Yukon  from spondoolies ... you can make me an offer.. ( i have to shipped it from France)
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April 21, 2015, 05:51:18 PM
 #185

I have some miners for sale
2 X SP20's
4 X Neptunes
8 x Antminer S3's
6 x Antminer S2's

Location NY willing to do local pickup or deliver in the NY Metro Area
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April 28, 2015, 01:23:41 AM
 #186

Switch em all on again, agree to mine to a specific address and use the money to set up several Solar Power / alternative energy hosting facilities so you can host your and other people's (for a fee) rigs and run them till they fall to pieces.

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April 28, 2015, 04:10:49 PM
 #187

I have some miners for sale
2 X SP20's
4 X Neptunes
8 x Antminer S3's
6 x Antminer S2's

Location NY willing to do local pickup or deliver in the NY Metro Area

You have better luck posting it on the computer hardware and auctions thread then this one.

And the sale is only successful if you have a damn good price since you have way too many units.
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April 28, 2015, 05:16:01 PM
 #188

Why not go with people who are legit in the cloud mining services?

Spoondoolies has partners like genesis mining that accepts all payment providers.

And you can still be in the mining game, and catch a break to get back in slow amounts at a time?

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April 28, 2015, 08:19:48 PM
 #189

Why not go with people who are legit in the cloud mining services?


Sorry this does not exist.

The whole cloud mining concept is made to separate idiots from their money. Its so obvious  don't even understand how could anyone not see it.
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April 29, 2015, 07:28:46 AM
 #190

Why not go with people who are legit in the cloud mining services?

Spoondoolies has partners like genesis mining that accepts all payment providers.

And you can still be in the mining game, and catch a break to get back in slow amounts at a time?

because some of them are risky even if they are legit, due to the fact that contracts last a bit too long, and you can't resell them in many cases, also maintenance fee is high in some clouds, and on top of that you should add the fact that if bitcoin skyrocket, or begin to rise in price , you can't resell your contract for the same amount at which you bought it

they are done in a way that will prevent you practically, to earn something significant
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April 29, 2015, 10:03:51 AM
 #191

Its so obvious  don't even understand how could anyone not see it.

you know why? actually for same reason is somebody able to sent thousands of dollars to some fucker thousands of kilometres away and wait for some "money machine" couple of months..Smiley

reason is obvious, and same, again and again. GREED.

and because of this, bitcoin is still alive. not because of some "haha cool, freedom, tech, idea behind), just because of pure greed. (well, some of guys around bitcoin just believe it, but maybe ~5%, no more). rest is just waiting for easy money.
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May 03, 2015, 10:17:50 PM
 #192

As the difficulty of BTC mining is changing, you may turn off unprofitable miners but most of these turned off miners are solo miners and still there are networks that are profitable. You must calculate for yourself wether your miners still worth working or not.

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May 10, 2015, 12:34:34 PM
Last edit: May 29, 2015, 07:19:31 PM by NoBit
 #193

Mining is getting more and more centralized. I don't mine anymore.

edit: nah.. who am I kidding, can't stop  Grin

Bitrated user: nobit.
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May 10, 2015, 02:13:05 PM
 #194

Mining is getting more and more centralized. I don't mine anymore.

yeah, because of prices of mining gear and other needs like placing miners to DC..in good old times with GPU and FPGA, it was somehow suitable to run it at home/garage..actually, it is quite scary, because there is nothing less secure then some kind of centralized cloud:(

I also stopped and I think that this will be worse and worse..
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May 12, 2015, 01:54:16 PM
 #195

It's almost a 100% safer bet to just purchase Bitcoins than mine for them. With the rising difficulty, increasing hardware costs, and electricity prices being a burden, not to mention heat/cooling, you will likely break even, or even lose a little. It's sad that Bitcoin has moved on to ASIC-only mining, I remember the days of GPU/CPU mining, the key to a great, usable currency is to make it obtainable from anyone who owns a computer.

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May 26, 2015, 01:41:59 AM
 #196

We are expanding our facility and looking to buy large numbers of secondhand miners.
Requirements:
Efficiency: > 0.8W/G
Price: <0.6 BTC/T
Quantity: >500T
Interested parties please contact me at eric.mu@haobtc.com
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May 26, 2015, 01:49:08 AM
 #197

Set 1:

Ant S1 - half board working 90-100 Ghs
Ant S1 - perfect condition 180 Ghs

without PSU

never overcloacked just updated stock cgminer to get extra nonce

looking to sell both of them excluding shipping for 0.5 BTC

Set 2:

6 GAW furys with PSU
avg hash rate 7.5 mhs
0.5BTC excluding shipping


can take reasonable offers.

Go to Hell
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May 26, 2015, 01:50:33 AM
 #198

are big farm making money, with the current price? would be interesting to know if they will shut down too
The company that I work for owns around 9P hashrate and is looking to expand until hitting the 50,000 KW max limit. The hydropower price is very competitive, but on the downside, we have to go to the mountains.

Eric Mu
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May 26, 2015, 02:05:11 AM
 #199

are big farm making money, with the current price? would be interesting to know if they will shut down too
The company that I work for owns around 9P hashrate and is looking to expand until hitting the 50,000 KW max limit. The hydropower price is very competitive, but on the downside, we have to go to the mountains.

Eric Mu
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E: eric.mu@haobtc.com

eric are u still intrested in buying miners ?

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May 26, 2015, 03:52:27 AM
 #200

are big farm making money, with the current price? would be interesting to know if they will shut down too
The company that I work for owns around 9P hashrate and is looking to expand until hitting the 50,000 KW max limit. The hydropower price is very competitive, but on the downside, we have to go to the mountains.

Eric Mu
CMO of HaoBTC
E: eric.mu@haobtc.com

eric are u still intrested in buying miners ?
Yes, but only bulk sale - 500T minimum.
E: eric.mu@haobtc.com
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May 28, 2015, 10:30:27 PM
 #201

After one year of mining, I just stopped my small time mining operation Smiley In the past 4 months, I was paying so much for power, my bills were so high, and I was barely making anything. Not even close to breaking even each month. Now I just buy direct, and cloud mine. I have to keep the feeling of getting new coins each day. I think I will turn on my miners maybe for a week each month (maybe).

But I will say what a year experience it has been. From being ripped off and miners never coming that I paid for from minersource/blackarrow (prospero x-1), and from cloud mining sites shutting down after 2 months of offering service (GAW miners).

I am on the fence of shutting down my 7 S3's - I live in SF and feel like I am actively losing money, but I enjoy doing what I can to decentralize the network.

I wish it wasn't so slanted by silicon/ASIC producers with access to cheap power.

I also got ripped off $6000 by bitmine in 2014 with a miner/refund that never came.

I wish there weren't so many bad people motivated by greed in this world.

I still believe in bitcoin.
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May 29, 2015, 06:26:27 AM
 #202

After one year of mining, I just stopped my small time mining operation Smiley In the past 4 months, I was paying so much for power, my bills were so high, and I was barely making anything. Not even close to breaking even each month. Now I just buy direct, and cloud mine. I have to keep the feeling of getting new coins each day. I think I will turn on my miners maybe for a week each month (maybe).

But I will say what a year experience it has been. From being ripped off and miners never coming that I paid for from minersource/blackarrow (prospero x-1), and from cloud mining sites shutting down after 2 months of offering service (GAW miners).

I am on the fence of shutting down my 7 S3's - I live in SF and feel like I am actively losing money, but I enjoy doing what I can to decentralize the network.

I wish it wasn't so slanted by silicon/ASIC producers with access to cheap power.

I also got ripped off $6000 by bitmine in 2014 with a miner/refund that never came.

I wish there weren't so many bad people motivated by greed in this world.

I still believe in bitcoin.

buy bitcoin instead, leave this mining thing for the big farms, don't need to play their dirty game

also this is the right time to buy, the price is good and stable
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May 29, 2015, 09:21:03 AM
 #203

The summer heat is starting to get here.  It seems it's getting past the rain sadly. 

If it was not for a good amount of fan's I would be pushing gear pretty hard, possibly stopping and selling.  But if I am right I think I should be able to mine through summer and have one more winter before the having. 
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May 29, 2015, 03:35:23 PM
 #204

After one year of mining, I just stopped my small time mining operation Smiley In the past 4 months, I was paying so much for power, my bills were so high, and I was barely making anything. Not even close to breaking even each month. Now I just buy direct, and cloud mine. I have to keep the feeling of getting new coins each day. I think I will turn on my miners maybe for a week each month (maybe).

But I will say what a year experience it has been. From being ripped off and miners never coming that I paid for from minersource/blackarrow (prospero x-1), and from cloud mining sites shutting down after 2 months of offering service (GAW miners).

I am on the fence of shutting down my 7 S3's - I live in SF and feel like I am actively losing money, but I enjoy doing what I can to decentralize the network.

I wish it wasn't so slanted by silicon/ASIC producers with access to cheap power.

I also got ripped off $6000 by bitmine in 2014 with a miner/refund that never came.

I wish there weren't so many bad people motivated by greed in this world.

I still believe in bitcoin.

You're mining in San Francisco?

PG&E's A-1 Small General Service peak use rate for San Francisco is one of the most expensive in the country. Even if you're on an E-9A (handicapped on social security) tiered pricing schedule and only mine at night you still would pay about 40% more for electricity than the rest of the country. The only way you could pay more to mine is if you moved to Hawaii or New York City.

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May 31, 2015, 06:41:22 PM
 #205

well currently only big farms can keep farming,without loose, since btc value is 250dollars ,soo to ROI would take more and more for solo miners,as someone said is time to sell them or atleast buy bitcoins with the money you were willing to buy a new rig....if bitcoin returns to 700 dollars maybe it will be the return from solo miners...
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June 01, 2015, 01:18:52 AM
 #206

well currently only big farms can keep farming,without loose, since btc value is 250dollars ,soo to ROI would take more and more for solo miners,as someone said is time to sell them or atleast buy bitcoins with the money you were willing to buy a new rig....if bitcoin returns to 700 dollars maybe it will be the return from solo miners...


It's pretty amazing actually.  There are some farms with extremly low electricity.  And in some they still mine with A2 Dragons with a profit.

If you think about dragons still running at a profit from a farm it's crazy.  They have ROI'ed and a god amount of profit at this point.  I know of at least one that is in this period of just pure profit on a good amount of dragons.

Difficulty just is not getting the double digit changes like we suspected we would get like last year.  We actually just got another negative change.
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June 01, 2015, 05:50:52 AM
 #207

The only way you could pay more to mine is if you moved to Hawaii or New York City.

Hawaii it is!
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