Turning off miners

[0.00000000]

A bunch of S3s all stacked together will be bothersome. Best to keep them in a separate room.

_Regards,
°._{°°°°°°°°} a.k.a 10⁸

[djroadking]

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.

[siampumpkin]

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.

[mitus-2]

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.

[SargeR33]

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.

[ahmi]

Its not a good thing to turn off miners.....because it is my earning source

[gkahr78]

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 

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  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. 

[Xian01]

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 Was a bit disappointed to see that.

[jwcastle]

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.

[Furio]

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 

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  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. 

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

[siampumpkin]

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.

[SFMiner]

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!

[Kyle1836]

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.

[valkir]

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 

[Furio]

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 

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

[picolo]

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?

[Syke]

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.

[NoahWL1]

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.

[MarkMJ]

Hello,

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

[SargeR33]

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.