Big companies with cheap electricity are killing the idea of decentralization for cryptocurrencies, but I don't see any good ways to deal with them.
Yes, this is the main problem, because today the complexity has grown so much that many people simply do not understand how to work in order to ensure the normal operation of the BTC network. 
Topic: Do you think mining is still fair - page 16. (Read 11558 times)
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?
I agree. The mining of bitcoin and alts has gone commercial with the rise ASICS and corporations running mining farms.
This is not the way Satoshi envisioned cryptocurrencies. It was supposed to be mined with an ordinary PC.
Greed will always find a way to circumvent the original intended design of cryptocurrencies.
In total a third of the cryptocurrency market has been wiped out in less than seven days which equates to a staggering $70 billion dollars. It is the largest single fall in the shortest period of time we have seen in well over a year. This could be the final purge before a bottom can be found, however since markets are still falling as this is being written, last check they were at $141 billion, there is likely to be more despair ahead in cryptoland.
Mining is not fair and already science a half a year. At the moment, the profitability of mining is around 0 percent. And I have doubts that it will ever get such benefits as a year ago, because the difficulty is increasing and the price is still going down.
Mining requires a large amount of money to buy supporting equipment. And that also requires large electrical power. I left mining because only a small profit was obtained. And it is more focused on investing and trading more profitable crypto coins.
It all depends on the cost of electricity in those places where coins are mined, although it seems to me that in most regions mining didn’t pay for itself!
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 good in times, when nobody was able to build huge farm sowhere in cold part of Canada. Today mining is killed by centralized mining and it is sad.
Mining now doesn't make any sense unless you just like mining but that doesn't mean we won't see days with profitable mining again ,that day will come again but for now I've shut Down all my mining rigs for awhile
Maybe back in September when you posted this but as of December the 5th the price of BTC is around 4k. You would invest that just to get a decent mining rig. Even then it is no guarantee that you will even hit any blocks!
As a matter of fact, mining is not as good and easy as it was back in time as far as the difficulty level would keep increasing on daily basis and the number of miners is getting increased too. Though, miners are still enjoying it I guess in the sense that I wouldn't remain in any business that is not profitable at all.
Mining is still profitable for a huge farms, which are working in a places with a cheap electricity, for example some stations in China or Syberia.
Only for those areas which have negligible electricity coast or rentals of the place is almost free might make the profits from this market else their is nothing now left in mining and it is not worth really as the gestation period is huge for the returns on investment as with the price of btc down it is more difficult now to make profits.
New ways of mining appear every day. Even if classic mining is dying, new options appear. I believe that mining have future, but I am not able of predicting it.
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 is one of the easiest and most convenient ways of earning money, but it might nit really be profitable at this time of bearish market.Except the whole process is reviewed, most especially for individual coin, before it can be seen to be a profitable venture at this time.
For now, i will prefer to continue trading, than to keep mining what might not be profitable for me.
Mining isn't fair, it is pure manipulation by big miners against small home miners.
Even with recalculation of hash rate, it isn't profitable.
Even with recalculation of hash rate, it isn't profitable.
Big companies with cheap electricity are killing the idea of decentralization for cryptocurrencies, but I don't see any good ways to deal with them.
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?
Just wondering , you started with a general question on mining and afterwards start diverting this topic to KRatos Network. Increasing mining difficulty might be disappointing as an individual but it increase faith about security of the network, acting as good and bad at a same time.
Maybe he has a lot of questions and queries that needs to be answered in different way. We can consider that mining is still fair because it will always depends on us on how knowledgeable are we in deadling it. As far as I know everyone is working good and bitcoin as of this time is getting stronger.
I’d probably start asking people who are doing this themselves, I don’t have a farm, but I often buy power on cloud mining, because I think that in general this is a normal practice. But there are also a lot of moments.
Nothing in this world is fair, my friend, because the defenition fairness in too abstract. It is one of the most obvious things that you get if you are mature enough.
As far as I know that now mining is not profitable, if mining today in countries where electricity is cheap, then in that case it may be that it will work out, but the most important thing is that now it is no longer needed as a whole.
I believe that mining at the end of 2018 is not profitable! Components for mining farms are expensive. And the mining itself brings little cryptocurrency.
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