Topic: I'm About to Quit Mining - page 3. (Read 4607 times)
Thats a good choice, when more and more people quit mining there is when I start
KNC Jupiter will work stable at 500 GH/s, I saw many ppl using extra devices to cool down the miner only to gain < 50GH/s.
I suspect the same problem (the heat) will become common for all ASIC producers.
I suspect the same problem (the heat) will become common for all ASIC producers.
A 550GH KnC Jupiter only makes 1 btc per day right now at a diff of 270, so you made the right choice. A HashFast makes less than 1 btc if they launched right now, and they still haven't. A 2TH CoinTerra and Bitmine will probably make about that much by the time they launch in December/January while Jupiters and HashFast's will earn 0.25 btc at that time. The Miner Protection by HashFast in 2014 doesn't come until their 400% increase will only make them about the same.
Asking for refunds and buying btc direct is what most sane people should do.
Asking for refunds and buying btc direct is what most sane people should do.
I've decided that I simply can't continue to mine and make money.
Simply put, over the past year I've found my costs & risks (especially for hardware) constantly increasing, while my profits have been dwindling.
Originally with GPU I wasn't earning much, but I didn't have to invest, and it was really low-risk low-stress. Then, I bought my first ASICs, but it took forever to ship. Then when it shipped it hashed well for like 2 days (Believe it or not I "accidentally" solo-mined a block). But after that, even when I joined a pool, it wasn't working very well. I suspect I just got very lucky. Long story short I had to re-sell my miner and immediately bought a newer one. This time, I was on the first wave, but it was even worse. I only broke even because I re-sold my miner, today.
I'd rather not disclose the company who made my miners, because I hold no ill will toward them and don't wish to spread bad publicity, but I'm wondering if anybody could either agree with me that its probably best to just quit while I'm ahead, because I'm really lucky to even broke even on this last one and could have lost a ton, or if its best to go right ahead and buy a terraminer IV. If I did the latter, I'd be investing an amount more than equal to my total miner profits ever (given BTC price at time of mining) in a SINGLE machine. Now, its not quite as bad as that, as the majority of coins I got at really low prices, but I'm starting to think its best to just cut and run, or invest in BTC by just purchasing more, rather than buying increasingly expensive equipment.
Simply put, over the past year I've found my costs & risks (especially for hardware) constantly increasing, while my profits have been dwindling.
Originally with GPU I wasn't earning much, but I didn't have to invest, and it was really low-risk low-stress. Then, I bought my first ASICs, but it took forever to ship. Then when it shipped it hashed well for like 2 days (Believe it or not I "accidentally" solo-mined a block). But after that, even when I joined a pool, it wasn't working very well. I suspect I just got very lucky. Long story short I had to re-sell my miner and immediately bought a newer one. This time, I was on the first wave, but it was even worse. I only broke even because I re-sold my miner, today.
I'd rather not disclose the company who made my miners, because I hold no ill will toward them and don't wish to spread bad publicity, but I'm wondering if anybody could either agree with me that its probably best to just quit while I'm ahead, because I'm really lucky to even broke even on this last one and could have lost a ton, or if its best to go right ahead and buy a terraminer IV. If I did the latter, I'd be investing an amount more than equal to my total miner profits ever (given BTC price at time of mining) in a SINGLE machine. Now, its not quite as bad as that, as the majority of coins I got at really low prices, but I'm starting to think its best to just cut and run, or invest in BTC by just purchasing more, rather than buying increasingly expensive equipment.
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