Turning off miners

[Amph]

After one year of mining, I just stopped my small time mining operation 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

[notlist3d]

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. 

[QuestionAuthority]

After one year of mining, I just stopped my small time mining operation 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.

[knowhow]

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...

[notlist3d]

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.

[moredillon]

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

Hawaii it is!

[QuestionAuthority]

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

Hawaii it is!

That's the spirit! lol

[Scamalert]

I turned off my last miner last year..... Kinda sad.... I think mining now is only for the people who is smart about buying/selling hash power at the right time... and the pro's who can invest in giant farms.
I still encourage people to mine for fun.... it is a good educational tool, even without any profit.

[teiva]

I turned off my miners too (twenty four HD7970 farm)
I guess mining is profitable only for ZERO power
Just holding my few LTC for moooon time :-)

[NoahWL1]

I'm working on setting up a cheap solar-powered Bitcoin miner.  It's going to run one of my three U2's I have collecting dust by pairing a solar-charged 4000mAh battery bank, a USB solar panel charger to charge the battery bank along with its built-in panel, and a Raspberry Pi or TL-MR3020 router with OpenWRT to control the U2.  I'll add more solar panels so I can have a powered USB hub and the other U2s run later.  It definitely won't generate a lot of Bitcoins, but hey!  No more power costs of leaving my PC on 24/7!  It'll also be a fun little project.

[Tongkar]

Mining is almost dead for the little guys its unfortunate but its the facts. Maybe its time to start mining new coins and hope for the best.

[cflocation]

Mining is almost dead for the little guys its unfortunate but its the facts. Maybe its time to start mining new coins and hope for the best.

What is considered a little guy? Serious questions here.

[Mikestang]

Mining is almost dead for the little guys its unfortunate but its the facts. Maybe its time to start mining new coins and hope for the best.

What is considered a little guy? Serious questions here.

100TH/s and less might be a good cut-off point, somewhere around there?

[NoahWL1]

Mining is almost dead for the little guys its unfortunate but its the facts. Maybe its time to start mining new coins and hope for the best.

What is considered a little guy? Serious questions here.

100TH/s and less might be a good cut-off point, somewhere around there?

Screw that, I'm on my S1 going strong.  Strong on electricity bills, that is.

[cflocation]

Mining is almost dead for the little guys its unfortunate but its the facts. Maybe its time to start mining new coins and hope for the best.

What is considered a little guy? Serious questions here.

100TH/s and less might be a good cut-off point, somewhere around there?

I guess it matters that I have free power  . I will run them till they die of old age.

[Richardxom]

Is there someone thinking about selling their rig?

[notabeliever]

I'm working on setting up a cheap solar-powered Bitcoin miner.  It's going to run one of my three U2's I have collecting dust by pairing a solar-charged 4000mAh battery bank, a USB solar panel charger to charge the battery bank along with its built-in panel, and a Raspberry Pi or TL-MR3020 router with OpenWRT to control the U2.  I'll add more solar panels so I can have a powered USB hub and the other U2s run later.  It definitely won't generate a lot of Bitcoins, but hey!  No more power costs of leaving my PC on 24/7!  It'll also be a fun little project.

Did you start yet? I have 2 nanofurys and I want to do the same. My thought was to use a panel from harbor freight tools 15 watt panel which more could be added later. Some people do say to not waist your time on these panels and just by  one bigger one similar to Solarcities yet won't invest until it works. I also liked Teslas battery maybe a small time electrician would install it one day.

My other solar project was a solor powered flood light with the little solar panel clipped to the rain gutter using the plastic Christmas light clips. This system can be used for the 15watt panel too. Might try the corner of the house first.

Not sure where to start first. Probably panels first and attached to the corner siding or temp post at the corner of the house. first step would be to make sure I get 6 hours of charging time.

My battery was going to be the charged battery jumpers. Those are good for plugging led flood lights if you have to work on the car or power goes out for awhile. One small problem is it stopped taking a charge so we will see if solar power can trickle charge it. Funny probably used it once to jumpstart an actual car battery.

List of things to buy.
Centech 5-in-1 Portable Power Pack with Jump Start (battery and power converter builtin)
Thunderbolt 15 watt solar panel kit

[knowhow]

well sollar energy as wind would be the way to be able to roi but how many time you think withoyt pay eletricity would take 1 year? more less with the current price of 230 dollars.... would be better to sell and buy it ?

[NoahWL1]

I'm working on setting up a cheap solar-powered Bitcoin miner.  It's going to run one of my three U2's I have collecting dust by pairing a solar-charged 4000mAh battery bank, a USB solar panel charger to charge the battery bank along with its built-in panel, and a Raspberry Pi or TL-MR3020 router with OpenWRT to control the U2.  I'll add more solar panels so I can have a powered USB hub and the other U2s run later.  It definitely won't generate a lot of Bitcoins, but hey!  No more power costs of leaving my PC on 24/7!  It'll also be a fun little project.

Did you start yet? I have 2 nanofurys and I want to do the same. My thought was to use a panel from harbor freight tools 15 watt panel which more could be added later. Some people do say to not waist your time on these panels and just by  one bigger one similar to Solarcities yet won't invest until it works. I also liked Teslas battery maybe a small time electrician would install it one day.

My other solar project was a solor powered flood light with the little solar panel clipped to the rain gutter using the plastic Christmas light clips. This system can be used for the 15watt panel too. Might try the corner of the house first.

Not sure where to start first. Probably panels first and attached to the corner siding or temp post at the corner of the house. first step would be to make sure I get 6 hours of charging time.

My battery was going to be the charged battery jumpers. Those are good for plugging led flood lights if you have to work on the car or power goes out for awhile. One small problem is it stopped taking a charge so we will see if solar power can trickle charge it. Funny probably used it once to jumpstart an actual car battery.

List of things to buy.
Centech 5-in-1 Portable Power Pack with Jump Start (battery and power converter builtin)
Thunderbolt 15 watt solar panel kit

Yep, I haven't done a lot of work on it since cause I've been pretty busy with some other stuff, but here's the thread: https://bitcointalk.org/index.php?topic=1077811.msg11510674#msg11510674.  It's basically finished, just needs a few more optimizations.  I'll finish it eventually, but like I said I'm pretty busy.  The skies have been pretty cloudy lately anyways, so I'm not in a rush.

[Borisz]

well sollar energy as wind would be the way to be able to roi but how many time you think withoyt pay eletricity would take 1 year? more less with the current price of 230 dollars.... would be better to sell and buy it ?

Don't forget that with solar and wind (or any other electricity source you buy and generate your own) you will have to ROI on the investment for that device too, on top of the miner. Essentially, it only extends your ROI and makes your income higher after the break-even point, where the difficulty probably would have already risen.