2020 years profitable in mining - page 3.

Lauda

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Quote from: toqchista2 on May 05, 2015, 10:21:26 AM

I should will buy 50 s3 and this dont is problem .

I want just know , exist any cause that mining will shut down ? I dont want that my 50 s3 Dont need .

How many about years will exist mining ? My in house that will have miners

It will use around 16, 800W of power. Depending on where you live this could still be a problem. Houses usually don't have industrial level electricity.
For that power you will get 22, 500 GHash (±5%). That's 22.5 TH/s.
To get 22.5 TH/s you would need to buy 5 BF4500 miners. They would spend 15 000W of power. This should be better actually.
If you were to go for efficiency the Antminer S4 should be the best (I think).

The last Bitcoin will be mined in 2140 (could be a bit sooner). Mining won't shut down; the network can't operate without it. However there are different scenarios to consider: Bitcoin could die, your miner could become obsolete, the price could go down even further.

toqchista2

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Quote from: Lauda on May 05, 2015, 10:12:06 AM

Quote from: toqchista2 on May 05, 2015, 08:24:01 AM

why ?

i don't have electrisity and cooling problem .

just interested me , why don't worth in home mining ? problem is this that same profitable isn't will be ?

Let's say you want to use 50x BF4500 by Bitfury.
Each unit needs 3000W of power. That's a total of 150 000W or 150kW. I'm not sure exactly how much power you can draw at the same time, but the number is definitely lower than that.
It's is not worth it because people with bigger farms and more capital will run you out of business.

Quote from: toqchista2 on May 05, 2015, 10:00:16 AM

I interested me worth if not mining ?

Maybe that Mining will cancel ?

This doesn't make sense. Use google translate; it is going to be more accurate.

I should will buy 50 s3 and this dont is problem .

I want just know , exist any cause that mining will shut down ? I dont want that my 50 s3 Dont need .

How many about years will exist mining ? My in house that will have miners

Lauda

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Activity: 2674

Merit: 2965

Terminated.

Quote from: toqchista2 on May 05, 2015, 08:24:01 AM

why ?

i don't have electrisity and cooling problem .

just interested me , why don't worth in home mining ? problem is this that same profitable isn't will be ?

Let's say you want to use 50x BF4500 by Bitfury.
Each unit needs 3000W of power. That's a total of 150 000W or 150kW. I'm not sure exactly how much power you can draw at the same time, but the number is definitely lower than that.
It's is not worth it because people with bigger farms and more capital will run you out of business.

Quote from: toqchista2 on May 05, 2015, 10:00:16 AM

I interested me worth if not mining ?

Maybe that Mining will cancel ?

This doesn't make sense. Use google translate; it is going to be more accurate.

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Quote from: Astargath on May 05, 2015, 09:43:22 AM

Mining is never too profitable in the moment you mine because you are mining with a difficulty according to the price (more or less) but if you start mining today and even if you only get 0.1 per month these days then its not going to be profitable but if in 2 years the price jumps to 2.000$ and you mined 2 btc then you would have 4k$ instead of 400$ wich would be the price right now

I interested me worth if not mining ?

Maybe that Mining will cancel ?

Astargath

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Mining is never too profitable in the moment you mine because you are mining with a difficulty according to the price (more or less) but if you start mining today and even if you only get 0.1 per month these days then its not going to be profitable but if in 2 years the price jumps to 2.000$ and you mined 2 btc then you would have 4k$ instead of 400$ wich would be the price right now

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Quote from: Lauda on May 05, 2015, 08:13:14 AM

Quote from: Amph on May 05, 2015, 07:39:02 AM

yeah but what the difference between 4+ pools having 10% and 3 having 33%(for example), in both case it does not look centralized to me

as long as there isn't 1 pool controlling everything, it can't be said that it is centralized, at least that's how I see it

You said 3 farms not pools. There is a difference. It's much worse to only have 3 farms.
A pool is a group of miners (i.e. farms). A farm is just a single farm run by a single person or group of people.

Quote from: toqchista2 on May 05, 2015, 07:37:08 AM

this home mining worth ?

i going to will buy 50 miner and worth 50 miner that will buy ?
i will be problem and don't will be income ?
i want that living mining and i'm interested worth ?

Mining in your home is not worth it. If you buy 50 miners today they will definitely lose value because new miners are being released regularly.
There is quite a good chance that you're going to be losing money.

Quote from: toqchista2 on May 05, 2015, 08:10:59 AM

Home conditions mining in future isn't problem ?

worth that i will buy 50 miner and i will begin serious mining ?

You can't mine using 50 miners in a home. If we assume that they are the top models; you don't have such a power supply to your house and you don't have proper cooling.

why ?

i don't have electrisity and cooling problem .

just interested me , why don't worth in home mining ? problem is this that same profitable isn't will be ?

Lauda

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Quote from: Amph on May 05, 2015, 07:39:02 AM

yeah but what the difference between 4+ pools having 10% and 3 having 33%(for example), in both case it does not look centralized to me

as long as there isn't 1 pool controlling everything, it can't be said that it is centralized, at least that's how I see it

You said 3 farms not pools. There is a difference. It's much worse to only have 3 farms.
A pool is a group of miners (i.e. farms). A farm is just a single farm run by a single person or group of people.

Quote from: toqchista2 on May 05, 2015, 07:37:08 AM

this home mining worth ?

i going to will buy 50 miner and worth 50 miner that will buy ?
i will be problem and don't will be income ?
i want that living mining and i'm interested worth ?

Mining in your home is not worth it. If you buy 50 miners today they will definitely lose value because new miners are being released regularly.
There is quite a good chance that you're going to be losing money.

Quote from: toqchista2 on May 05, 2015, 08:10:59 AM

Home conditions mining in future isn't problem ?

worth that i will buy 50 miner and i will begin serious mining ?

You can't mine using 50 miners in a home. If we assume that they are the top models; you don't have such a power supply to your house and you don't have proper cooling.

toqchista2

newbie

Activity: 28

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Home conditions mining in future isn't problem ?

worth that i will buy 50 miner and i will begin serious mining ?

toqchista2

newbie

Activity: 28

Merit: 0

Quote from: toqchista2 on May 05, 2015, 07:37:08 AM

this home mining worth ?

i going to will buy 50 miner and worth 50 miner that will buy ?

i will be problem and don't will be income ?

i want that living mining and i'm interested worth ?

Amph

legendary

Activity: 3248

Merit: 1070

yeah but what the difference between 4+ pools having 10% and 3 having 33%(for example), in both case it does not look centralized to me

as long as there isn't 1 pool controlling everything, it can't be said that it is centralized, at least that's how I see it

toqchista2

newbie

Activity: 28

Merit: 0

this home mining worth ?

i going to will buy 50 miner and worth 50 miner that will buy ?

i will be problem and don't will be income ?

i want that living mining and i'm interested worth ?

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: Amph on May 05, 2015, 07:24:28 AM

how is it wrong? this is exactly the vision of sat0shi, having in the end only few big farms nothing else

even if the price rise, the diff would rise too(the cost of electricity too ecc...), in the end, small farms will be taken out , they will not be able to compete any more
p.s. 2-3 giant farms controlling the network doesn't mean centralized at all, centralized mean 1 farm controlling it aka 51%, otherwise i could argue that it is already centralized...

Quote from: toqchista2 on May 05, 2015, 06:58:45 AM

i can't undersood , you told me very hard i can't translate, you try little simple will tell me

that only few big farms will remain, but this isn't a bad thing like many think, it's good, will make the network stronger

That's true. He foresaw that, but it has no correlation with the halving. This has already partially happened as mining can't be hobby anymore (unless one likes losing money). Mining has become industrialized.
That's nothing surprising. The same is happening with companies because of their low capital compared to the big players.
I think you don't see the difference between farms and pools.

Take a look:
https://blockchain.info/pools
There are 4 major pools at the moment that are over 10%. Let's ignore that 'unknown' now.

Quote

Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out more smoothly over time.

This means that the pools are consisting out of many miners (i.e. farms). You definitely can't argue that the mining is centralized now,
As long as we have a few pools and the hashrate is somewhat distributed we're okay. If we only have a few farms (2-3) then it is very centralized.

Also centralized mining is definitely not something good.

Amph

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Quote from: Lauda on May 05, 2015, 07:06:20 AM

Quote from: Amph on May 05, 2015, 06:59:16 AM

-snip-
the block halving will only eliminate in the end, those small farms, until only 2-3 giant farms will survive

This is wrong. Please don't spread it around.

how is it wrong? this is exactly the vision of satoshi, having in the end only few big farms nothing else

even if the price rise, the diff would rise too(the cost of electricity too ecc...), in the end, small farms will be taken out , they will not be able to compete any more

p.s. 2-3 giant farms controlling the network doesn't mean centralized at all, centralized mean 1 farm controlling it aka 51%, otherwise i could argue that it is already centralized...

Quote from: toqchista2 on May 05, 2015, 06:58:45 AM

i can't undersood , you told me very hard i can't translate, you try little simple will tell me

that only few big farms will remain, but this isn't a bad thing like many think, it's good, will make the network stronger

Lauda

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Quote from: toqchista2 on May 05, 2015, 07:14:00 AM

so , unbroken must will happens halving and after will happens price increase and this will be good ?

why happens price increase ?

and this price rise bitcoin never drop ?

You're quite hard to understand. Hopefully you also understand what I'm telling you.
The halving must happen, it's coded and wont' change.
To understand why the price should (I did not say that it will) rise you have to understand something in economics. That's supply and demand.

Hopefully this will help: http://www.env-econ.net/supply_demand.html
The price of Bitcoin does not always rise. It is very volatile (i.e. it is often changing).
http://www.coindesk.com/price/

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Quote from: Lauda on May 05, 2015, 07:06:20 AM

Quote from: Amph on May 05, 2015, 06:59:16 AM

-snip-
the block halving will only eliminate in the end, those small farms, until only 2-3 giant farms will survive

This is wrong. Please don't spread it around.

Quote from: toqchista2 on May 05, 2015, 06:58:45 AM

but in 2020 will happens block halving and this halving doin't cause low profitable /?

The first block halving will happen in 1 year and 3 months. In theory the halving should make the price rise; we will see what happens then.
If the price stays the same and we have 2 halvings, it's obvious that mining will be less profitable.
Then again some miners will leave, difficulty will adjust. It should be better for the persistent miners.

Quote from: toqchista2 on May 05, 2015, 07:04:20 AM

i can't undersood , you told me very hard i can't translate, you try little simple will tell me

What he is saying that the block halving will eliminate small miners and that mining will be completely centralized.
Ignore that.

so , unbroken must will happens halving and after will happens price increase and this will be good ?

why happens price increase ?

and this price rise bitcoin never drop ?

Lauda

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Quote from: Amph on May 05, 2015, 06:59:16 AM

-snip-
the block halving will only eliminate in the end, those small farms, until only 2-3 giant farms will survive

This is wrong. Please don't spread it around.

Quote from: toqchista2 on May 05, 2015, 06:58:45 AM

but in 2020 will happens block halving and this halving doin't cause low profitable /?

The first block halving will happen in 1 year and 3 months. In theory the halving should make the price rise; we will see what happens then.
If the price stays the same and we have 2 halvings, it's obvious that mining will be less profitable.
Then again some miners will leave, difficulty will adjust. It should be better for the persistent miners.

Quote from: toqchista2 on May 05, 2015, 07:04:20 AM

i can't undersood , you told me very hard i can't translate, you try little simple will tell me

What he is saying that the block halving will eliminate small miners and that mining will be completely centralized.
Ignore that.

toqchista2

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Quote from: Amph on May 05, 2015, 06:59:16 AM

Quote from: toqchista2 on May 05, 2015, 06:58:45 AM

Quote from: Lauda on May 05, 2015, 06:49:48 AM

the block halving will only eliminate in the end, those small farms, until only 2-3 giant farms will survive

i can't undersood , you told me very hard i can't translate, you try little simple will tell me

Amph

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nothing will change, we would have stronger miners, but also a "stronger" diff, ratio will be always 1:1

but...there is a but, every time that the price increases by a large amount, the diff can't keep up with it fast enough, thus creating "a window of opportunity"(of two week, because of the diff retarget) where casual miners can join and gain profit

Quote from: toqchista2 on May 05, 2015, 06:58:45 AM

Quote from: Lauda on May 05, 2015, 06:49:48 AM

So you're asking my if in 2020 it will be more profitable to mine or not in comparison to 2015?
If the price stays the same and difficulty (of which neither will) it should yield about the same profits. Although if the prices of energy rise or drop it could affect that.
I'm pretty sure that the difficulty will grow; by then we will have much better miners than today.

Correctly understood.

but in 2020 will happens block halving and this halving doin't cause low profitable /?

the block halving will only eliminate in the end, those small farms, until only 2-3 giant farms will survive

toqchista2

newbie

Activity: 28

Merit: 0

Quote from: Lauda on May 05, 2015, 06:49:48 AM

So you're asking my if in 2020 it will be more profitable to mine or not in comparison to 2015?
If the price stays the same and difficulty (of which neither will) it should yield about the same profits. Although if the prices of energy rise or drop it could affect that.
I'm pretty sure that the difficulty will grow; by then we will have much better miners than today.

Correctly understood.

but in 2020 will happens block halving and this halving doin't cause low profitable /?

Lauda

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Activity: 2674

Merit: 2965

Terminated.

So you're asking my if in 2020 it will be more profitable to mine or not in comparison to 2015?
If the price stays the same and difficulty (of which neither will) it should yield about the same profits. Although if the prices of energy rise or drop it could affect that.
I'm pretty sure that the difficulty will grow; by then we will have much better miners than today.

Topic: 2020 years profitable in mining - page 3. (Read 3620 times)