Its normal that the difficulty increases and that's fair.
If you see its not fair anymore then stop mining and sell your GPU's or use it for better use. This is we have an option to trade which is easier to do for those that can't avail mining anymore. I feel sorry for small miners that can't endure it anymore due to the market condition that can't sustain their rigs anymore.
Topic: Do you think mining is still fair - page 20. (Read 11558 times)
It is not at at all. Mining is loseing its participants but really large organizations that have farms are there because their volumes get over all wasted resources.
Solo mining is no longer profitable specially bitcoin. But I heard that you can still make profits mining altcoins because you don't know those hi-end gears just to mine them.
But then again, you need to take in consideration lots of factors like cost of electricity, maintenance of the farm. If you think you can get cheap electricity then you should at least experience mining. I'm unlucky though electricity cost in our place is so expensive. But if given the chance, I still love to mine altcoins.
This is a difficult period, but this period will not last long. Mining is now on the verge of payback. Especially it concerns mining of coins with low capitalization. However, this does not mean that mining has come to an end.
I feel mining is increasingly difficult, this is because more and more large companies are focusing on mining, and this is like a monopoly from them, with big capital of course they can pay professionals for mining.
It is not at at all. Mining is loseing its participants but really large organizations that have farms are there because their volumes get over all wasted resources.
Mining is still possible, but very difficult. At the moment, it does not pay off, because the electricity bills and rental of premises are higher than the checks from mining. Mining has become simply unprofitable.
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 think mining is worth for now.
many coin upgrade to masternode, and reward for pow miner are down to 50% oar 40%.
so many miner are leaving from mining coin.
high cost , and low earning.
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?
well, it is not meant to be fair. eventually when mining require large scale mining farm. small mining rig are insignificant anymore. same things goes to industrialization, bigger, more advance facility will crush all small player.
As I see, mining is still profitable only in countries with extremely low electricity costs, in most countries it is not fair and even you might lose money by doing it.
I think that mining is not good investment anymore here in Europe where we have high electricity costs. Is that fair, i don't think so, but what we can do about that... We have better life standard than most of people and we could probably afford more money for buying coins on exchanges.
Still lot of altcoins were profitable to mine so we need to do research on best coins with low difficulty,direct mining of ethereum may not be profitable unless you have very cheap electricity so don't mine ethereum if you don't have powerful GPU and cheap electricity.If you are looking for some suggestion to mine now maybe it will be monero.
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 tried before to engage in mining and I know that this is a very difficult task. Until you try it, you'll understand. I believe that the easiest way to invest this money in bitcoin and keep at least 2 years and profit can surprise you very much...
High profits in mining have caused an increase in difficulty, but this cannot continue indefinitely, so mining profits will decrease in the future and it's normal. Miners are just make new blocks and should not receive super profits for this actions.
The time of GPU mining is ending, and i think that it will never came back. Now is time for ASIC´s big companies bloodsuckers to mine all the profitable coins and sell it to the suckers. I saw this a few months ago when equihash was hacked by ASIC manufacturers and stated mining with ASIC´s leaving GPU miners left out on the street....
I don't know whether mining is fair or not because I have never been mining. but I see some of my friends actually sell their mining tools because market conditions are still down and according to them mining is still not profitable.
I think not because ordinary miners cannot easily upgrade their GPU due to financial capacity while bigger miners can do it, that is why small miners are already out of the business because they cannot sustain any more the expenditure of the said business. It also to happen that we are in the bear period it exaggerates the situation.
Guys those who are planning to start mining kindly change your thoughts because you need to invest a lot of money also your electricity bill will be more than the profit you expect. Because the value is very low. I didn't mean it will not give benefit to you. Yes it might give you profit in future.
Everything now is considered to be in bear and mining for now are very low in return but most of them are holding for the next bull that is when the transaction fee and coin mine will give some kind of profit, those selling now are losing income and most of the miner are holding now and waiting for the bull run on btc and the next halving.
I myself never make some money from mining. But, i have a friend who mine the coins. He bought the miner and its equipments very expensive. And now, the profits got from mining is very small. When he want to sell the miner and tools, it is very less price. I cannot give judgment if it is still profitable or not. But, iof many people face this problems, maybe we should think twice about it.
I want to talk about mining for bitcoin only, and from the view of home mining. I think it can be fair if the price of bitcoin around $7,000 or more. The reason is about the operational funds of the mining. It consumes a lot of electricity and times daily. If the bitcoin price is still low, we just waste the time and get losses.
Going to mining is really needs enough capital and think of huge expenses every day. But I think that the current btc price is still good enough to bring crypto mining still alive. Cause if don't, they absolutely stop their business either. Jump to: