I'm here to declare home mining completely dead and a total thing of the past. There is now no way anyone can possibly make ROI purchasing any of the available hardware out there, period!
Not one product on Rigwarz.com can even come close to achieving a ROI, even though they say they can. I challenge anyone reading this to prove me wrong. After you're done embarrassing yourself i'll explain why it's impossible using any of the miners that one runs in their homes. Even if you get free electricity and pay 0 in pool fees, you still can't make your money back, period.
The days of making money by mining coins is long gone unless the price of bitcoin skyrockets. Which honestly, I don't see that happening with all the new regulations that are making it near impossible to use as was intended. It's a miracle the price has held above $350 for as long as it has. Everyday massive amounts of BTC mining hardware becomes obsolete as the difficulty rises.
The only way to make a buck mining is if you got the chips for free, say you trick a bunch of customers into buying them for you. Anyone come to mind?
Well I would agree with you -- if -- all you did was plug it in and set it to some multi pool or LTC pool that automatically converted to BTC.
Mining these days is for those that want to research other alt-coins and actually spend time picking what they mine, when the mine it and how they trade it.
The days of the "Lazy Miner" are long gone!!Things were already like that 6 months ago. A year ago I had 250Mh/s of Scrypt mining hardware under my control. Only 80Mh/s of it was mine but I had pooled together a few hash cows and when a new coin launched we would hit it with everything we had. Insta mine 5-10% of all coins in existence then hold and dump them the moment the pump and dumpers started their market manipulation. Oh those were the good old days. When you could measure your profit in thousands of dollars per day. Yes we screwed it up for all the small miners since we would stop mining the moment the difficulty went from 0.001 to 15.000 on the first jump.
Now days coin developers try their best to stop that from happening. They've done a good job of it too. Now all that's left is pure speculation, or a more accurate word, gambling it's the only way to make a buck these days. If your lucky enough to pick the right coins and then even luckier to sell them at a top price, buying them back on the dips, dumping them back on the highs, and laughing all the way to Coinbase for your fiat.
I can recall knocking a a few pools offline during a coin launch that will go unnamed. Since we hit the network as hard as we did coins were being generated more than once every 10 seconds. The pools crashed and we kept on going without any competition until the difficulty jumped by a factor of a 1000x. Don't even get me started on the real price of mining in a pool. They tell you 3%, but it's more like 15%.
The plug and play miners are gone, have been gone for at least 6 months, if not longer.
be creative and polite, as this will be court of law and send them to me on PM as i do not hang out here all the time. Have a few weeks before I can submit this so plenty of time to prepare!
