Hi,
Is it still worthy for a new comer to invest in mining. I'm thinking about ASIC (not GPU or FPGA). But will I make any return on investment, let alone profit?
Any estimates on what difficulty will be in the next few months - early next year ?
Topic: Difficulty climbing fast - page 2. (Read 1021 times)
Mining is currently a level field for all, rich or poor. Even if and when Bitcoin becomes big enough to spawn specialized mining firms who develop proprietary ASICs for exclusive self-mining, you could still participate by means of a mining co-operative or a publicly traded company, or a partnership...
Except for ASICMiner, Avalon, BFL, (possibly KNCMiner, Bitfury in future). The companies that developed the first ASIC chips are doing very well for themselves. The old adage remains true, in a Gold Rush only the shovel sellers make good.
Yep, mining difficulty rises exponentially.
I only started a mining a month ago and difficulty has gone from 12 to 19.3 in that short period.
Will difficulty rise so quickly that single GPU miner's like me will have no profit all? Especially when ASICS become widely available. I only started as an experiment.
Soon only the rich will be able to mine - Ah capitalism!
Will difficulty rise so quickly that single GPU miner's like me will have no profit all? Especially when ASICS become widely available. I only started as an experiment.
Soon only the rich will be able to mine - Ah capitalism!
Yep, watch in 3 years all mining is going to be done by big corporations.
Quote
Your thinking is flawed. If I invest 500 dollars into mining hardware, I might realize X% return over say one year. If I invest 5000 dollars into same hardware, I will be realizing the same X% return over the same period. Sure, vendors provide a certain discount for higher-priced hardware, but this is insignificant compared to other variables and unknowns, plus is easily addressed by buying shares in a large mining operation.
No, you realize x - difficulty increase of your new hardware% return.
This is a natural result of the appearance of mining ASICs. ASICs are so much faster than GPUs that soon GPUs will be unprofitable. I would not buy a GPU specifically for bitcoin mining any more, you need FPGAs or ASICs to compete in this bitcoin economy.
I only started a mining a month ago and difficulty has gone from 12 to 19.3 in that short period.
Will difficulty rise so quickly that single GPU miner's like me will have no profit all? Especially when ASICS become widely available. I only started as an experiment.
Soon only the rich will be able to mine - Ah capitalism!
Your thinking is flawed. If I invest 500 dollars into mining hardware, I might realize X% return over say one year. If I invest 5000 dollars into same hardware, I will be realizing the same X% return over the same period. Sure, vendors provide a certain discount for higher-priced hardware, but this is insignificant compared to other variables and unknowns, plus is easily addressed by buying shares in a large mining operation.Will difficulty rise so quickly that single GPU miner's like me will have no profit all? Especially when ASICS become widely available. I only started as an experiment.
Soon only the rich will be able to mine - Ah capitalism!
Mining is currently a level field for all, rich or poor. Even if and when Bitcoin becomes big enough to spawn specialized mining firms who develop proprietary ASICs for exclusive self-mining, you could still participate by means of a mining co-operative or a publicly traded company, or a partnership...
Will difficulty rise so quickly that single GPU miner's like me will have no profit all?
I would certainly expect so.
A more interesting question is: "How long until the fastest and most efficient ASIC today are no longer profitable to run?
I'd guess less than 5 years.
5 year... yeah, no.
How many years did it take for CPUs to become unprofitable?
Once CPUs were unprofitable, how much longer did it take for the early GPUs to become unprofitable?
Now that GPUs are becoming unprofitable why would you think it would take more than 5 years for today's ASIC to become unprofitable?
Will difficulty rise so quickly that single GPU miner's like me will have no profit all?
I would certainly expect so.
A more interesting question is: "How long until the fastest and most efficient ASIC today are no longer profitable to run?
I'd guess less than 5 years.
5 year... yeah, no.
Will difficulty rise so quickly that single GPU miner's like me will have no profit all?
I would certainly expect so.
A more interesting question is: "How long until the fastest and most efficient ASIC today are no longer profitable to run?
I'd guess less than 5 years.
I only started a mining a month ago and difficulty has gone from 12 to 19.3 in that short period.
Will difficulty rise so quickly that single GPU miner's like me will have no profit all? Especially when ASICS become widely available. I only started as an experiment.
Soon only the rich will be able to mine - Ah capitalism!
Will difficulty rise so quickly that single GPU miner's like me will have no profit all? Especially when ASICS become widely available. I only started as an experiment.
Soon only the rich will be able to mine - Ah capitalism!
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