I was doing the math comparing sample current payout figures with their reported hashrates (not estimated network hashrates), and
my conclusion was that DGB is trading in the market for about half of what it costs to mine, regardless of whether you’re using GPU or ASIS (in fact, SHA-256 is the most costly to mine), and that's only considering electricity operating costs and says nothing about ROI on hardware investment.
If you can directly buy DGB for half of what it costs to mine, then why not just directly buy DigiByte on the open market? The logical extension of that question is why not turn off all of your mining rigs (and save them) while buying at half the cost from others who are burning their rigs up?
I could shut off my mining and take the same money I’m using to pay my electric bill to BUY TWICE AS MUCH as I could mine with that same budget!However, I’m a long term nut and can’t bring myself to shut down (that being said, none of my rigs are stressing, and they’re all running cool and efficient with a life expectancy of many years).
Nevertheless,
I can “double” my production, ACTUALLY TRIPLE, or more (at 19, where I first bought, the figures were even better still)
by simply buying in the open market with the money I’d have used to pay electricity and without any new hardware investment at all! Double my budget to expand production, but instead of using that money to pay for electricity, buy direct, and get twice as much as I would have by mining! That’s fantastic!
That’s what I’m doing. I “expanded” my mining budget by doubling the amount to be spent and
took 4 months worth of that new money available for mining, bought BTC with fiat (and BTC is cheap right now as well),
and then simply bought DGB and got 8 MONTHS WORTH in the process! And got it now!
I really need to shut my rigs down for a few months and just buy,
but liquidity is a problem – there isn’t much on the market to buy at these prices and you’ve got to be patient, very patient – and who knows how long sellers will be willing to sell at a loss (one thing’s for sure, things wear out, and as their mining capacity slowly goes off-line, I doubt very much they’ll be re-investing). I'll keep mining anyway, just to keep the rigs occupied and out of trouble
but if the math continues to justify it, you can count on me being back in January with another multi-month purchase.
