Mining
Topic: Has mining ever been profitable "at current rates"? - page 2. (Read 1626 times)
Mining
The sad thing is that historically you would always make a better investment by buying and holding bitcoins than buying mining hardware.
The sad thing is that historically you would always make a better investment by buying and holding bitcoins than buying mining hardware.
It seems all the money seems to go to the miners that keep mining when everyone is telling the to turn off their rigs. Was thinking about this, has there ever been a time in the last 5 years where mining was profitable at current rates?
Minning rig companies... always sell at a price when there is a profit "at current rates"... Sadly in many cases these profits are calculated for "now" when the item is in pre-order... gets delays 18 gagillion times and boom no so much profit any more. Some say the companies mine themselves, I think companies just have poor project/time management for a product that is SOOOO time dependent.
Usually that profit is much much lower then their own, they easily squeeze about 80-90% of potential profits out of the miner just by how they price it. A good example is the Antminer S1... They have been lowering the price each week due to price/difficulty changes. Sure they might hit a profit/loss floor but the margins have been pretty good for them up until now.
The only rigs being turned off are older rigs where the price + difficulty was getting close to retirement anyways, the price change just made it earlier. If you bought a rig yesterday, you are running it for a loss to get as many BTC out of it in hopes value goes up to save the day or at least SOME of your money.
I was mining when a btc was well under $100. "Profit" is a subjective term. When I was making a $20 weekly "profit" back then, I was happy. You see, to a miner, the money/btc spent on a mining rig is a sunk cost. Towards the end of 2013 when the btc price was rising, most of us were busy buying pre-orders and whatnot, because we thought the party would never end.
Well, the party is over now and there are lots of people with hangover.
Well, the party is over now and there are lots of people with hangover.
It seems all the money seems to go to the miners that keep mining when everyone is telling the to turn off their rigs. Was thinking about this, has there ever been a time in the last 5 years where mining was profitable at current rates?
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