There is one other angle for this matter. Well if you are going to buy the old miners then you will have to consider that they gonna pull lot of energy from the grid and will cost you more money on the maintainability. The older they get the more you need to maintain them that’s for sure. Moreover, you can only profit when you are able to reduce the electricity on these miners. This is obviously true for new miners and old miners. But for older one you will have to work on the hash rates and which is profitable coin.
If you are just able to overcome the electricity issue by some means then you go for older miners. Otherwise its advisable to invest more on newer and high end miners.
Topic: BTC hashrate increase, how about bitcoin cache (Read 77 times)
Mining is competitive business but old miners that cannot compete with the BTC network do inevitably shift to mining the lower rung coins. Litecoin is on a different algorithm so BTC miners wouldn't be used. BCH can be mined with them but that network has only been decreasing in price as its intentions to attack BTC were not appreciated by the crypto community.
I think if anybody is looking for older miners, they'll be better off with something that supports Scrypt as LTC and DOGE can be merge-mined with them. Unfortunately, most mining is now a matter of scale. If you cannot scale then it is impossible to see this as more than anything but a hobby. If you can wait for the next bullrun, that is when you end up making a solid amount.
This also has nothing to do with Miners having to shift to other coins because of BTC hashrate. Hashrate only affect profitability of older miners and that too, if your electricity is too costly. Everything depends on profitability and long term reliability. For example, Right now Digibyte is fractionally more profitable to mine than BTC but miners won't shift to DGB en masse because it doesn't have the same network effect.
I think if anybody is looking for older miners, they'll be better off with something that supports Scrypt as LTC and DOGE can be merge-mined with them. Unfortunately, most mining is now a matter of scale. If you cannot scale then it is impossible to see this as more than anything but a hobby. If you can wait for the next bullrun, that is when you end up making a solid amount.
This also has nothing to do with Miners having to shift to other coins because of BTC hashrate. Hashrate only affect profitability of older miners and that too, if your electricity is too costly. Everything depends on profitability and long term reliability. For example, Right now Digibyte is fractionally more profitable to mine than BTC but miners won't shift to DGB en masse because it doesn't have the same network effect.
As the difficulty of mining increases, there really is a need for the miners to upgrade for them to cope up with a better hash rate.
is it worth to mine these coin instead of BTC ?
The miners are always have an alternative if their miner is no longer profitable with bitcoin and as long as it can mine any altcoin that's that algo, they'll choose it.
Hey
As you know, due to the high Hashrate of the bitcoin network, many old asics miners may not be interested in bitcoin.coz it's not worth. Do they mine BCH, Nicehash-SHA , LitecoinCash(LCC) ?
is it worth to mine these coin instead of BTC ?
As you know, due to the high Hashrate of the bitcoin network, many old asics miners may not be interested in bitcoin.coz it's not worth. Do they mine BCH, Nicehash-SHA , LitecoinCash(LCC) ?
is it worth to mine these coin instead of BTC ?
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