It seems everybody who has GPUs is mining with free electricity

[adaseb]

I just don't understand why there are so many GPU miners out there at these horrible profit levels.

With X11 or X13 or Neoscrypt you need electricity at 0.07KwH just to earn nothing.

Considering the fact that electricity of <0.07kwH is rare in most developed nations, why are there so many GPU miners out there.

I figured the difficulties would at least decrease and Darkcoin would be profitable again but with the recent BTC drop people are still out there mining.

So are there really that many miners out there that don't pay for power? Because it seems like the only logical explanation why the hashrates are sky-high.

[Bananana]

I just don't understand why there are so many GPU miners out there at these horrible profit levels.

With X11 or X13 or Neoscrypt you need electricity at 0.07KwH just to earn nothing.

Considering the fact that electricity of <0.07kwH is rare in most developed nations, why are there so many GPU miners out there.

I figured the difficulties would at least decrease and Darkcoin would be profitable again but with the recent BTC drop people are still out there mining.

So are there really that many miners out there that don't pay for power? Because it seems like the only logical explanation why the hashrates are sky-high.

I am pretty sure a lot of them are mining at a loss (parent or landlord pay the bills), or they are mining for the heat since its winter. But I never like the smell generated from GPU mining rig (you won't notice if you only have 1 rig, you will notice some metal smell if you have like 5-10).

[LTCMAXMYR]

I just don't understand why there are so many GPU miners out there at these horrible profit levels.

With X11 or X13 or Neoscrypt you need electricity at 0.07KwH just to earn nothing.

Considering the fact that electricity of <0.07kwH is rare in most developed nations, why are there so many GPU miners out there.

I figured the difficulties would at least decrease and Darkcoin would be profitable again but with the recent BTC drop people are still out there mining.

So are there really that many miners out there that don't pay for power? Because it seems like the only logical explanation why the hashrates are sky-high.

FPGA

[Eliovp]

Spreadcoin and NXT's MSCoins are profitable even at 0.11 USD per kWh - so no, we don't have free power, you just don't know what to mine.

Don't forget to mention you are almost always mining at a higher speed as 95% of the scene ;-)

So it's almost always profitable for you Wolf


In my case it's free electricity.

So yeah.

[Corenin]

most gpu miners are mining at loss or using their gpus to mine newly launched altcoins with hope of profit
those gpus become unuseable for mining after scrypt ASIC launched

[Eliovp]

Spreadcoin and NXT's MSCoins are profitable even at 0.11 USD per kWh - so no, we don't have free power, you just don't know what to mine.

Don't forget to mention you are almost always mining at a higher speed as 95% of the scene ;-)

So it's almost always profitable for you Wolf


In my case it's free electricity.

So yeah.

I meant with the stock miner - I, of course, will still be mining long after people paying half my power rate have sold off their shit.

If that happens, even more profit

[Amph]

some of them have free power for sure or very cheap one

but i don't see so many gpu miners anymore

[MaxDZ8]

I agree. Luckly, I must add.

I can confirm that a few people I knew used to mine at leeching electricity for somebody else. I still don't get how they can get through the 400-1000 bucks spent on useless cards. One only needs so much power to run games.

[Equate]

Its either those GPU miners have free electricity or they have already made ROI .

[antantti]

Its either those GPU miners have free electricity or they have already made ROI .

Or they live in Finland...

[LFC4Life]

In 2013 and in beginning of 2014 was mined lots of ltc and ftc with free electricity
but now its not profitable even with free electricity...

[AdamWhite]

I just don't understand why there are so many GPU miners out there at these horrible profit levels.

With X11 or X13 or Neoscrypt you need electricity at 0.07KwH just to earn nothing.

Considering the fact that electricity of <0.07kwH is rare in most developed nations, why are there so many GPU miners out there.

I figured the difficulties would at least decrease and Darkcoin would be profitable again but with the recent BTC drop people are still out there mining.

So are there really that many miners out there that don't pay for power? Because it seems like the only logical explanation why the hashrates are sky-high.

FPGA

/thread

[MEPHuk]

As mentioned above, they dont pay the full electricity bill themselves. I tried mining for a little bit, got no where near covering the electricity costs

[MEPHuk]

Your right, i stand corrected, allow me to rephrase. It is profitable to mine whilst paying the bills when a new coin comes out and block rewards are very high, but youneed to hope and pray said coin goes onto an exchange so you can insta dump

[MEPHuk]

Dont get me wrong, your right, but as you said, you gotta be QUICK, a lot of times in that situation, the profitability window closes real quick.

[Equate]

As mentioned above, they dont pay the full electricity bill themselves. I tried mining for a little bit, got no where near covering the electricity costs

Speak for yourself - if you're fast enough, it works out. EGOLD - one of NXT's MSCoins, was INSANE profitable for a good week.

Agree!... Mining is profitable only if a new coin can be instamined but that window period is very less.

[grendel25]

Yeah and some people are just out to get coins because they don't care about costs or because someone else is paying the costs for them.  Just think of all the random GPUs in random houses where some tech-oriented teenager has his/hers and their parents computer armed with an overpowered GPU lol

[BitmoreCoin]

Some people in the north mines as it generates free heat.