Topic: How is mining successful nowadays (Read 1996 times)

If you want to be a very successful miner, you should think out of the box and mine altcoins which doesnt have so much difficult and where you can get a lot of coins, after a year you can sell it for a triple price!

I still do GPU mining though it only earns a few dollars per day. Hope that BTC price will go up. Buying new ASICs seems quite risky now since they only take pre-orders...

What benefits does this have against bitcoins

Without giving information, here you are started giving philosophy about mining. Early time there are lot of GPU miners only take part in mining process, Now ASIC miners are good and best miners to make profit. I do prefer avalon or Antminer D3 or S9 to implement the mining rigs in home or other locations.

It's not totally ridiculous to assume that people want to mine for profit and measure the success of a mining operation in profit/loss. That said, gold rushing and FOMO are the keys to getting yourself delusionally killed by market events. You may have to run your rigs for a year or more to make your money back - that is unless you're in the lucky position to buy the first batch of a new algo asic and you get a little lucky w/ shipping time, difficulty, and coin price. Being in a position to make that kind of order though and continue updating equipment, cutting power costs, underclocking/undervolting - is a place worth being.

What do you consider a "success"

The way mining is successful today!
Is THE SAME WAY it was successful YESTERDAY.
And WILL BE THE SAME WAY IT WILL BE SUCCESSFUL IN THE FUTURE.

You are already a loser if you equate success with PROFIT...they have absolutely NO relation to each other and are often mutually exclusive.

That can be used to calculate the profit with the mining calculator. I don't know what you are trying say about. If we need to speak about profit in mining digital coins. Nowadays altcoins mining is giving more profit than we do mining for altcoins.

 Does your chicken farm use these type coops?

http://www.datacenterdynamics.com/content-tracks/design-build/yahoos-compute-coop-is-not-for-chickens/93474.fullarticle

Define 'Money invested". In 2014 I invested a total of US$8k cash to buy my first few miners. That was recovered in less than 1 year. All expansion and upgrades since then have been paid directly from farm income and generally the farm pays for a new miner in 1-2 weeks. Yes the BTC spent on new miners probably totals well over $100k but that did not come out of my pocket - came directly from my BTC receiving wallet with a very tidy amount of profit on top of that. Now that I've stopped growing for a bit BTC is piling up rather quickly....

So just *how* is that not being profitable?

its always depends on how you assess and calculate expenses over gains, from where am i right now i knew it will take me a year before i can
roi from mining i'm sure it will be our decision whether to proceed and who knows from that time frame the mined alts already value a lot
by the way mining some eth and dcr.

It is if you think about it. With the money invested, I'm pretty sure you make roughly the same ratio with a Chicken farm. Also, Chicken farm requirements are pretty much almost the same as Bitcoin mines.

POS = piece of $hit  coin

the business model simply does not work for them.


Show me I POS coin paying 15% per year the last 3 years.

 Grant County Schedule 7 specifies "AVAILABLE: To accounts with loads not less than 200 kW or more than 5,000 kW" - that schedule is where you START get to under 3c/kwh all up in Grant Country.

 Lower power consumption than that puts you on Schedule 1 (residential) or Schedule 2 (small business) that work out to about 4.5 all up.

 DO kindly explain how to get to 3 in Grant County with less power consumption for a mining operation, I'm ALL ears - rents are a lot lower in Grant than Chelan and viable building availability is a lot better in Grant than Douglas....


 Also, how the heck or where do you get to 4 AT ALL anywhere near Tacoma on less than INDUSTRIAL scale on an ALL UP pricing?
 Let's be sure we're comparing apples to apples here, not JUST base rates that in many cases have massive surcharges (like Alliant Energy in Iowa where the majority of the bill EXCEPT in the summer was the surcharges)....

You don't need 200kw or more in Grant county to get sub .03 rates. Even as far west as Tacoma you can find .04. That said, I am trying to build an operation that warrants moving out there.

 There are 3 counties in the USA that have 3 cent (or a little less on BIG operations) electric.
 Chelan, Douglas, and Grant counties in Washington state.
 Chelan and Douglas have that rate on RESIDENTIAL, Grant you have to get to the 200kw consumption level or more to get that low while residential and SMALL business rates are close to 4.5 cents/kwh

 All 3 have large hydropower dam(s) they OWN on the Columbia river, with lots of excess to local needs power they sell off at a profit and roll the profits back into subsidizing local rates somewhat.

 Alcoa used to have one of it's BIG Aluminum smelters in Chelan country (currently inoperative but they've been talking about PERHAPS bringing it back online), Quincy in Grant county has some fame for being the home of some GIANT server farms (Microsoft, Yahoo, Dell, and some smaller folks).

 Then there are places like near the Three Rivers Dam in China that don't have enough demand (lack of infrastructure to SHIP all that electric output where it's really needed) so they sell off electric super cheap to what locals DO exist.

 A few of the Middle East oil powers subsidize local electric rates too, though I dunno if they do that for non-citizens.


 There are parts of Labrador, most or all of Quebec, and part of British Columbia that also have a lot of cheap hydropower available though I'm not sure if they quite make it down to 5 cents (US) per kwh at less than industrial scale rates.

Why is electricity so cheap in a developed, socialist, high tax country like Canada?

    CDN $0.065 / Kwh 

Mining is all about whether you can scale fast enough to build a farm. Rigs or ASICs might be profitable now, but as profitability drops due to difficulty all but those with the cheapest power will start to fall into unprofitability long term. The question is can you return the capital you spent on ASICs or rigs before that happens, or have enough revenue coming in/a big enough operation to move to greener pastures.

POS is hardly worth using as it generates tiny profits and uses up a whole lot of time. Example is PPC which gives 1% annually. Better off just mining straight up.

Then again POS is also the acronym for Piece Of Shi** which many of those coins are. I'm sure that certainly occurred to whoever 1st came up with the name.