Do you think mining is still fair - page 18.

Galantin

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Quote from: BountySoldier on September 11, 2018, 03:33:30 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?

These questions are not under our control. Now miners need to optimize production. With regard to new graphics processors, it is difficult. If you look at the new graphic card, it is not very good and the price is too high. We may soon face a problem.

apitico

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Production still brings good results, of course it does not compare with the period when the market was so high.

Accts4u2

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At this point we can say that the mining of some coins is no longer fair since the average person with just a laptop can no longer mine coins profitably as they could before and only the people who can actually afford to buy the hardware which are very expensive and pay the very expensive electricity bills are now able to mine the coins so i would say no

MR_Klip

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Quote from: BountySoldier on September 11, 2018, 03:33:30 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?

Now it is not as profitable as before. It seems to me that a lot of people now abandoned this way of earning because it ceased to be profitable and now acts more minus than plus. I don't do that anymore.

cluit

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Quote from: BountySoldier on September 11, 2018, 03:33:30 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?

Fair or profitable ? Both sounds like they are correct but vastly different in margin. Do I think mining is still fair ? Yes, because it gives people the option to both help the blockchain ecosystem by providing the calculations needed to help transactions and it is just helping basically anyone who exchanges from one place to another by making it faster. Now, do I think its profitable ?

Well, it depends how much you want to invest to, right now thanks to the bear markets and the stagnancy the price is incredibly low, so if you would like to mine any coin out there you will have to spend a good amount of money to just get the equipment for it and than hope that the price goes up while paying for spiked expensive electricity bills. You will still make a profit as it is but definitely not worthy amount.

xp.rie

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Quote from: BountySoldier on September 11, 2018, 03:33:30 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?

I don't know about mining, but what you say I fully agree.
but some of my friends are still mining with certain techniques and according to them it still produces profits even though the level of difficulty is getting bigger.
and I think if you feel anxiety over mining you can switch to trading

Barcode_

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Quote from: waldocarter on November 02, 2018, 07:40:07 AM

I have a mining farm. I mine ethereum. Two months ago, I decided to turn it off, unfortunately at the moment it does not bring me a profit. I hope the situation will improve in the near future.

If you are mining crypto-currencies in a country with high electricity costs, the chances of earning money from mining crypto-currencies would obviously be much lower as compared to other countries with low electricity fees, and the values of most crypto-currencies are in a pretty bad shape at the moment, so I believe this will be a difficult period for the miners to endure.

elenka n

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That's right, 2018 is very sad for cryptocurrency, but it seems to me that very soon the ethereum team will finalize their coin and mining will again become profitable!

CryptoIyke

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I have seen a lot of persons mentioning mining since my introduction into crypto, I have known a lot of successful traders and investors but have not come across anyone talking how profitable it is going into mining, maybe becai there are a few involved and cashing out from it or it is not profitable from the part of Africa I came from

mahilchii

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Quote from: HEvangelista on October 23, 2018, 04:45:50 AM

I see many people selling their mining equipment after spending a fortune assembling them, with some of them stating in the selling sites that the reason for selling is that "it is no longer needed". I mean why don't they need it anymore? Because it is not earning them some cash right now? Everywhere, the traders are the only ones profiting from cryptos.

You are right mate I am among the one now planning to sell because there no profit in mining as expected after investing a bulk amount in this, I am not even getting back the electricity bill amount. No one want to lose their hard earned money, may be it will benefit in future. So think about it and plan accordingly.

Fluxtorrence9

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Mining has become nonprofitable anymore, its not worth burning electricity for so low rewards ,my mining rigs are just there gathering dusts both ETH and xmr mining setup ,its not the best time to mine now

oemar bakrie

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for me this kind of situation is starting to look like a huge destruction..
I lost in terms of the opportunity because it has been saving for too long and it is no longer a fantastic price again,I am only a token collector who has felt a big loss especially for big miners automatically very different from my current losses..

kalstarzz

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Quote from: BountySoldier on September 11, 2018, 03:33:30 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?

Today's mining has changed dramatically, and for me, the one who runs it feels very loss, because we know the market conditions today are not stable, so that what I can do is not what I spend. hope this will improve soon.

ivaf

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Quote from: waldocarter on November 02, 2018, 07:40:07 AM

I have a mining farm. I mine ethereum. Two months ago, I decided to turn it off, unfortunately at the moment it does not bring me a profit. I hope the situation will improve in the near future.

I do not want to upset you, but the situation does not improve. Mining is dead. At least solo mining and mining in the rigs. Only ASIC farms can give something to you now.

Fedrey

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Quote from: waldocarter on November 02, 2018, 07:40:07 AM

I have a mining farm. I mine ethereum. Two months ago, I decided to turn it off, unfortunately at the moment it does not bring me a profit. I hope the situation will improve in the near future.

Over the past three months, the number of empty blocks has increased in the Ethereum network, despite the fact that the total number of processed blocks has not changed. Perhaps there is a cause of effect.

waldocarter

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I have a mining farm. I mine ethereum. Two months ago, I decided to turn it off, unfortunately at the moment it does not bring me a profit. I hope the situation will improve in the near future.

HichemFetoui

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in my humble opinion mining proof of work is dead now the era of delegated proof of stake and master node personally i currently accumulating coin for a master node good luck

clipto

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The only profitable mining at the moment is Dash mining. Any other coins do not bring you a lot of benefits. Only if you have some source of energy that does not cost anything, you will get profit from mining.

Siegtal81

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Quote from: BountySoldier on September 11, 2018, 03:33:30 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?

For me, bounty is much easier and more profitable. So I prefer him more than that. I think it is not really the same as before and it makes no sense to do it now at home. For me, this is not the best option

arditiyan

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I see many individual mining companies closing their tools because the income is very small compared to the cost of electricity bills and others, but I'm sure they will return if the market has improved

Topic: Do you think mining is still fair - page 18. (Read 11590 times)