Do you think mining is still fair - page 14.

Riddikulo

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Quote from: smoolae on December 03, 2018, 02:30:40 PM

Mining is as fair as it has always been.
The thing is that a lot of years people really didn't know much about it. There was this so-called info blockage - mining and cryptos weren't as interesting for media to cover than other news. Thanks to that a lot of people could mine rather well using their GPU rigs and ASICs from first generations.
This lasted up to winter 2017 and then it went into masses as something that is mega easy to do for earning some extra income. And you probably know how it went from there...

Mining does not bring as much profit as before. If you check the statistics, you will see that many miners decided to sell their equipment and started trading. People find that this business can give them more money.

Ailmand

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Quote from: BountySoldier on September 11, 2018, 04:33:30 PM

In Q3 2018 market is still a blood bath. A lot of people that involved in crypto losing theirs hopes on a quick moon. ICO market is down. But difficulty of mining is growing up. We need more powerful processors, GPU and so on. Mining was created to give ordinary people get some free coins. Another hand big companies joint into monster to dig more digital gold. Simple person is out of this business. To support a node of ethereum you need more space every month and you get no reward. Do you think its fair enough or we need some new architecture to give mining a new life?

That's also one of the reasons why some people say that only rich people get rich in crypto currency. If you have a big capital, you can actually take advantage of everything. But, of course it depends on your strategy and your choice of investment. Even if you have a huge capital, if you have invested in a wrong way, you can also lose a lot of money.

Sanford

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This year we became acquainted with great difficulties. While companies can not give us new processors, and this is bad. Mining at the hunters and at the ICO is not the best of times. 2018 - failure.

raptorez

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Quote from: Deallove9 on December 05, 2018, 02:08:33 PM

The mining pool is owned by very big investors and that has giving much to the miners , but we are having some set back in the crypto market which is why the reward is also very low compare to the expenses during the pool but the time would soon come when the mining will be more available.

Mining in modern times is close to not producing anything at all, look at what is happening with many mining farms now, only they can work at a loss. Therefore, today it turns out that they still work.

Way2Paradise

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Quote from: BountySoldier on September 11, 2018, 04:33:30 PM

In Q3 2018 market is still a blood bath. A lot of people that involved in crypto losing theirs hopes on a quick moon. ICO market is down. But difficulty of mining is growing up. We need more powerful processors, GPU and so on. Mining was created to give ordinary people get some free coins. Another hand big companies joint into monster to dig more digital gold. Simple person is out of this business. To support a node of ethereum you need more space every month and you get no reward. Do you think its fair enough or we need some new architecture to give mining a new life?

mining was never really fair. already through the different electricity prices or that certain groups of people can access asic or fpga earlier than others. many factors make sure that mining is not really fair. but that is just my personal opinion.

Sama517

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Quote from: BountySoldier on September 11, 2018, 04:33:30 PM

In Q3 2018 market is still a blood bath. A lot of people that involved in crypto losing theirs hopes on a quick moon. ICO market is down. But difficulty of mining is growing up. We need more powerful processors, GPU and so on. Mining was created to give ordinary people get some free coins. Another hand big companies joint into monster to dig more digital gold. Simple person is out of this business. To support a node of ethereum you need more space every month and you get no reward. Do you think its fair enough or we need some new architecture to give mining a new life?

The mining business has lost it huge profit returns it used to generate. Those who benefitted from it are those early guys. The process is now too difficult with even lesser rewards.

ivanleon

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Activity: 280

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The moment has come when mining does not bring such large profits as before, because the price of top cryptocurrencies has fallen. In any case, it still exists and it is cost-effective taking into account the cost of electricity. As far as it is fair, you decide, in any case, when holding the cryptocurrency, if the market returns to its old values, it will be good money. Life isn't fair at all.

Deallove9

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The mining pool is owned by very big investors and that has giving much to the miners , but we are having some set back in the crypto market which is why the reward is also very low compare to the expenses during the pool but the time would soon come when the mining will be more available.

covfefe_

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We're not seeing the rapid decrease in difficulty as seen in the price. So, it's not a very good time for mining. If the prices remained low for a longer time than maybe many miners would abandon mining decreasing the difficulty than mining would be a good profit for the remaining ones.

raptorez

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Quote from: sanacaks on December 04, 2018, 02:58:37 PM

I never did mining. To start mining, you need to make big investments. However, as far as I read, mining is not a profitable process. The excavation is done for long periods and it is not easy to find the block as before. Therefore, I do not intend to do mining.

If you are interested, then it seems to me that now, when many mining companies have begun to understand that mining is not productive today, that is, today it is not profitable, they are starting to sell their equipment now you can buy it very cheaply.

Maxre

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of course no one can measure fairness or not now for mining.
because what I know is that if they feel they have been harmed by their mining it is not possible for them to continue, for sure they already know the advantages and disadvantages of mining.

MiningPoolStar

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Cashi

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Quote from: patz22 on December 04, 2018, 09:04:44 PM

Mining is not profitable in our country specially where electricity bill is too high and weather condition is not good as well so what I did I invested to a mining company(leo) at first it was profitable when btc is up but as I received profit in months it became lower and lower wherein I thought it will be the same amount of btc each time since it was mining.

I agree, it's only profitable for large companies who have access to very cheap electricity prices and build a huge building of miners where they are managed by special educated teams. It's not easy to do it and need a cheap electricity price and many educated people.
This is often in China. Bitmain, a large manufacturer of miners is also in China. Delievery from Bitmain to China is ideal and cheap.

patz22

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Mining is not profitable in our country specially where electricity bill is too high and weather condition is not good as well so what I did I invested to a mining company(leo) at first it was profitable when btc is up but as I received profit in months it became lower and lower wherein I thought it will be the same amount of btc each time since it was mining.

Alohadanc3

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It depends on the situation. Market is very much down in this market mining are not so much profitable. Atleast for those who have small setup for mining or pc miners. But I think mining is always profitable when it's comes to big people who have farm or something like that. Those who have great financial support have no problem with down market or up market or if you have a pool you don't have to worry about it. But when it's comes to individuals it's really hard. You may make some little profit but that is not worthy for the time and effort you have to invest for that profit mostly the time. No it's upto you.

Dhaniii

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https://i.imgur.com/hgxNNiA.png

I think mining is still fair if we also use substantial capital as well. like buying a mining tools is faster, and more of course. with faster and more tools, more mining income will be greater and profits will also be greater.

coinbirds

full member

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The market declined a lot and mining is not always profitable depending on the price of electricity.
Hopefully the difficulty will drop further to save the situation.
The bear market will also end once and hopefully mining will be more beneficial again.

sanacaks

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Activity: 308

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I never did mining. To start mining, you need to make big investments. However, as far as I read, mining is not a profitable process. The excavation is done for long periods and it is not easy to find the block as before. Therefore, I do not intend to do mining.

JeromeL

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Quote from: GunsLair on December 03, 2018, 02:53:24 PM

Some time ago I was also engaged in mining but then I abandoned this idea, as I considered it unprofitable for myself. And watching the situation now, I made sure that I did the right thing.

I don’t know how people mine cryptocurrencies. Probably you need very cheap electricity or a decrease in other costs. It is not clear to me what will happen next when the prices for cryptocurrencies fall even lower.

raptorez

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Quote from: GunsLair on December 03, 2018, 02:53:24 PM

Some time ago I was also engaged in mining but then I abandoned this idea, as I considered it unprofitable for myself. And watching the situation now, I made sure that I did the right thing.

Today, mining really is not terribly profitable, of course it was done solely with such intent, because the mining market today must be competitive, but it is very difficult, the Chinese are the first.

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