Topic: I am out of the mining game :( - page 9. (Read 44655 times)

There are always PoS coins, why don't you guys try that?

Did you cash out entirely, or hodling your stash ?

Especially when bitcoin price is not that high. Im out of not only the mining game, but the whole bitcoin game.

Yeh. You're right.

It's sad but true.   

In my opinion there is nothing we can do. Mining can't be profitable for everyone  forever. It's a natural thing that more and more efficient miners appear in the game. Competition is is something unavoidable in many aspects of life, so it is in mining.

Im afraid you are right. Centralisation of mining is happening and this is the inverse of what bitcoin is ion my opinion.

I really dont know what we could do to change that.

I mean, this is not BAD, you know, this is natural...

But one thing it's true... there's only few countries wih a "combination of things" that contribute to BTC mining.

There's a lot things to embarass everything, like regional monetary problem, government issues, state intervention, taxes, nonpopularity (and I think it's bad), and lotta things that don't mean shit to talk here.

In my opinion, mining is becoming the inverse of what a majority of us believed in.

I think you can ROI as a small player, just do your calculations but you won't make that much money and it will be difficult but it is difficult and risky to run a large farm as well, for different reasons.

You're suggesting we join a pool? I don't think that's still profitable either.

We should all immigrate to a place that has cheap electricity 

The very big chinese Mining Farms - the big Player of this World. Very simple The little private Miner with a lot of Terrahash will never reach the ROI and will stop the miningprocess.

Yeah, mining isn't very profitable right now and it's probably a good decision to stop. Most cloud mining sites are ponzi schemes.

But I wonder what will happen if all the miners ditch bitcoin mining? Who will process our transactions?

Hi guys.

Here in Brazil, mining is the most unprofitable thing to do.

This years, electricity bills has rising a lot -- brazilian government is always fucking up everything...

Our currency, the Real, cost U$0.3, and the KWh is about U$0.13.

So, just before june 2014 it was a little profitable (because of mining diff and because of some chinese seller who were selling Antminer S1 for a very cheap price... but it was a very tiny moment in "btc history".

Today, even if you got the best hardware, green energy, hw plugged on 220V, I mean, it's IMPOSSIBLE to make money.... who's mining here it's totally for fun or for a long, long investment and a huge belief that Btc price will skyrocket like Nov/2013.

The basic salary is around U$245,00. So how could somebody work with mining with such unpleasant environment? I mean, you will spend U$453,00 to buy a S5... and will spend around U$90 monthly with maintenance... the return will be nothing but arrears. Even clouding on hashnet.com, the maintenance will be much less, but the hardware cost will make the return very, very little.

So, here's not a cool place to mine. It's a non-winning game...

pS.: My sister lives in CA, USA, it looks like it is a cool place for mining. She's mining great with her power purchase and low electricity cost.

Hope it help some who's planning to do this work/game here.

just running the last of the knc stuff into doorstop status...there is this place below thou...may get one as a 'toy' someday ..but nothing above 2k max!

https://bitcointalksearch.org/topic/ann-sfardssf100-the-first-28nm-dual-mode-miner-is-accepting-pre-order-now-985400

we will see how legit they are supposedly a gridseed and wiibox collaboration with IPO $$$

but no more pre-orders!!! (for me that is no idea if above is gonna try that on folks again)

anyway the only 'talk' of any new equipment of any kind that is not data hall private miners that I know of right now is the above link

but it is "iffy" at best.....or so it seems so far...will let others break trail on all this......but 'toy' for fun status is the only way to go with miners now imho
if at all

I'm out of 03/2014. Mining isnt profitable. 

You can make a profit mining if you get cheap enough hardware and cheap enough maintenance costs with low enough difficulty increase.

yeah, I was thinking about this, but it seems to make more sense to simply buy the bitcoin.

I've had terraminers and antminers and still have a few small ones chugging away, but only for the hell of it.  the terraminers are unplugged as they just eat too much.

as others have said, if you have free power then yes, otherwise it doesn't seem profitable for the average guy to get into mining and make even their investment back.

Well, it might still be profitable in the long run to mine now I guess. You might not make profit now, but you could keep and hold those bitcoins you mined for waiting bitcoin price to raise.

It seems to start mining altcoins is an unique alternative...

How do I answer this in as little words as possible....

Only if the following applies to you:
-If you have an adequate fire extinguisher and alarm system.
-If you have free power
-If you gladly pay for all your power out of pocket only to bag coin for future sales
-If you have anything of $0.01 / KW.h and under
-If you have great knowledge of the offline mining industry
-If you have great knowledge of computers and technology
-If you're not lazy
-If you have a good operating credit line
-If you have have substantial upfront investment
-If you have a solid mining plan
-If you have place to host your really stinking hot bunch of computers
-If you have adequate ventilation and/or air-conditioning

This is to name probably to name the most important ones but if you have ALL the above you will do fine