good mining days gone | Bitcointalksearch.org

hanskan

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Quote from: gaitchs on October 29, 2017, 09:20:47 PM

Gone are the good days of mining 10 USD with two Rx 480. I have decided to sell them , instead of upgrading . I don't think enough money is pouring in again in this vast ocean of crypto

There must be something seriously wrong with your brain if you think that kind of ROI is sustainable. You can still make your money back on your gpu rigs within a year if you have cheap electricity. Even that is fkn retarded ROI. I am certain that it's going to fall even more.

rod887

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you're right

soudao

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In this case, the current rise of bitcoin will only attract more people to participate in mining. Obviously, the more people involved, the more difficult the mining will be.

dunfida

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Quote from: Snub on November 05, 2017, 04:01:51 PM

Yeah, now we should invest more and more with every day to keep our mining process on a high level. But i think its worth of it, and if we want to receive some BTC we need to spend money on it.
and that is fair! we cant just generate BTC from air... if we could it would not cost so much

If the electricity cost is cheap then -YES but if not then its better to buy coins directly rather than on bothering yourself on mining because you are just really wasting up your time and effort to mine without seeing its profitability unless if you decide to hold up on the cons that you are holding.On this kind of case where GPU turns out not to be profitable then we can always resell those not on mining purposes but for gaming.Im sure there would be lots of people could possibly purchase those graphic cards and save up and plan to buy the latest one.

arpon11

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Quote from: gaitchs on October 29, 2017, 09:20:47 PM

Gone are the good days of mining 10 USD with two Rx 480. I have decided to sell them , instead of upgrading . I don't think enough money is pouring in again in this vast ocean of crypto

I think bitcoin mining business is not as easy as it is since 2012 till 2014. Gone are actually the days that miners get bitcoin easy and almost mining bitcoin like picking coins from ground. However, mining others coins is still profitable and you can also mining those coins that split from bitcoin such as bitcoin gold and bitcoin Cash for profits. I have been trying to set up a mining farm but cost of electricity is too high in my country.

Snub

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Yeah, now we should invest more and more with every day to keep our mining process on a high level. But i think its worth of it, and if we want to receive some BTC we need to spend money on it.
and that is fair! we cant just generate BTC from air... if we could it would not cost so much

rentodev

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romad.io - community manager

Huh. There they say that the good time has passed (Q1 2017). The good times were when all mined bitcoins on 7970. Now it's just a grow on hype.

ruthbabe

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Quote from: migolmigol on October 30, 2017, 10:24:26 AM

I agree. This is because the mining of concurrency today has become more competitive. A lot of people now are mining cryptocurrencies both big and small. And most of these miners are also in the focus of Bitcoin because of it's value. I am no expert at mining but I think when it comes to Bitcoin, what is better now is just investing and trading. Especially now that the Bitcoin value is going up, it is good to invest and monitor it's prices from time to time. This increase may go a long way as more people are getting into Bitcoin investment nowadays.

Yes, that's right. It's good to invest now because Bitcoin price trend is upward. I've read a news a couple of days ago that the major force behind this might be the surge in the trading volume of the Japanese and South Korean Bitcoin exchange market to the exit of Bitcoin traders in China. Accordingly, they accounted for more than 50% market share of the global Bitcoin exchange market.

franco123

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Quote from: Oceat on November 02, 2017, 04:52:58 PM

Quote from: gaitchs on October 29, 2017, 09:20:47 PM

Gone are the good days of mining 10 USD with two Rx 480. I have decided to sell them , instead of upgrading . I don't think enough money is pouring in again in this vast ocean of crypto

Due to the fact that technology is evolving so does the miners too, that's why you really need to upgrade your miner too in order for you to mine more bitcoin. By upgrading you will gain enough bitcoin in the future and could get your ROI in just a couple of months or more. And the difficulty level will increase over time so you end up waiting much longer even, and possibly never end up getting a block when solo mining. Everything has their own risk but we must have to adapt to become successful.

This is a good point by sir. Yes, gone are the days of good mining because competition really spiked up. However, technology also improved as so we can also take this advantage to upgrade. If you are really into investing on mining industry, you should know how to stay competitive. Make some strategies like upgrading and minimizing cost. Maybe looking for areas with low electricity cost could help as well. Nothing in this world now is easy. Everybody is now competitive and you need to keep up with them by being and staying competitive as well.

klaaas

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Quote from: European Central Bank on October 30, 2017, 04:52:54 PM

doesn't it completely depend on the coin? coin developers know there are hungry miners out there so they supply coins that can be mined. if there isn't one now that suits your gear then one that will be suitable should come along at some point.

correct. Or what now looks like peanuts could be much more later on.

Oceat

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Quote from: gaitchs on October 29, 2017, 09:20:47 PM

Gone are the good days of mining 10 USD with two Rx 480. I have decided to sell them , instead of upgrading . I don't think enough money is pouring in again in this vast ocean of crypto

Due to the fact that technology is evolving so does the miners too, that's why you really need to upgrade your miner too in order for you to mine more bitcoin. By upgrading you will gain enough bitcoin in the future and could get your ROI in just a couple of months or more. And the difficulty level will increase over time so you end up waiting much longer even, and possibly never end up getting a block when solo mining. Everything has their own risk but we must have to adapt to become successful.

madwica

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Quote from: 1inside1 on October 30, 2017, 10:33:10 AM

Quote from: gaitchs on October 29, 2017, 09:20:47 PM

Gone are the good days of mining 10 USD with two Rx 480. I have decided to sell them , instead of upgrading . I don't think enough money is pouring in again in this vast ocean of crypto

Good choice, sadly bitcoin mining is no longer very profitable, which honestly really stinks for the miners amount us. Xmr is decent, but it's still not that profitable.

Mining of bitcoin is always profitable depending on the hardware you have, yes mining of bitcoin for now is very dificult due to high price of it but developer are non stop to develop new mining equipment which is more powerful to make mining run smoothly and of course it is much expensive but the benefits of this is gaining huge profit. And i think op has not enough money to invest for upgrading his bitcoin mining equipment that is why he decided to stop and sell his equipment.

BotICO

newbie

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Maybe mining alts? I think CPU mining is the answer.

Lanatsa

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Quote from: Philopolymath on November 01, 2017, 05:08:35 PM

Mining will NOT END UNTIL THE YEAR 2140
There is still 100+ years of mining to do!!!

If you are pertaining on Bitcoin itself then we would really still mine for another 100 years until the last bitcoin would be mined but since we do see on OP that he did just sell off his two video cards or GPU then he do mine on altcoin for sure.I would say that you shouldnt sell off those cards since there are altcoin which do have still low mining difficulty.Just like on what im doing i do mine some alts when i saw it is not already profitable then i do decide to find new alts and jump and milk some profits on mining.Its just like that.

Philopolymath

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Walter Russell's Cosmogony is RIGHT!

Mining will NOT END UNTIL THE YEAR 2140
There is still 100+ years of mining to do!!!

alekad

newbie

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I think that a new wave of high-profit mining is still to be. It will not be very long, just to make crowd buy the cards again. And after that wave private mining will decline.

okala

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I think we still have long way to go, about 6 to 7 million remain to be mined and that is a huge value and we do expect more hardfork and splitting in years to come that will create more opportunities for miners. Though it is very difficult now to mining bitcoin, in 2 years back many miners make good profit just by using s7 and few gpu but now those hardwares hardly can mining to cover operations cost.

veleten

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Quote from: ?? on ??

well i hope that gpu mining days will come back, at least for some new tokens.

if you are talking about Bitcoin Gold here,it is fools gold more than bitcoin gold at the moment
they were designed to make bitcoin decentralised again (even stealing slogans from Trump)
and they stole more than just a motto,their replay protection is a copy of bitcoin cash's and it is not ready yet despite what they say on the ir site
so new tokens are not that hope inspiring

if you look at the current rates for two x480 there is no coin that will allow you to earn even 3$ a day
look at the Nicehash profitability test,download their programme and run it to see how much they are paying currently
so yeah,selling the cards and not continuing this arms race is the best idea

aoihs00

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Quote from: gaitchs on October 29, 2017, 09:20:47 PM

Gone are the good days of mining 10 USD with two Rx 480. I have decided to sell them , instead of upgrading . I don't think enough money is pouring in again in this vast ocean of crypto

Yup this is so unfortunate for new investors or miners more specifically who are willing to get into mining stuff. But to be honest we can't catch the speed that old people have got now, the old I mean who started mining since the beginning. They might have earned so much money and may be they are having big farms of it. Only farms with more than 100's of miners will survive from here onwards. Solo mining was surpassed almost last year and even with 10-15 miners at home can't do much of the work. If you have to be in the race then you need 100 dozen of those RX series which is almost obsolete now and hard to get in the market. May be a game enthusiast will get it from you. Better.

cipher-x_09

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I couldn't agree more with the vast number of competition in the mining industry its hard to know whether its worth mining anymore I rarely get earnings on my mining which ia why I decided focusing on investing in bitcoins rather than mining because mining really cost a lot your specifications in your computer needed to be updated just to caught with the stiff ccompin bitcoin mining.

Topic: good mining days gone (Read 1844 times)