Is it profitable to mine? - page 2. | Bitcointalksearch.org

ShakyhandsBTCer

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It's Money 2.0| It’s gold for nerds | It's Bitcoin

Quote from: bitmarket.io on June 16, 2014, 08:28:13 PM

Quote from: AdamSmith on June 16, 2014, 08:13:18 PM

Quote from: bitmarket.io on June 16, 2014, 03:23:24 PM

Quote from: AdamSmith on June 16, 2014, 12:46:37 PM

Quote from: bitmarket.io on June 16, 2014, 12:34:37 PM

It isn't when you deal with shady fucks on the forum.

You want profit, vertically integrate. Don't deal with anyone but the chip designers and manufacturers themselves.

Even then,the RoI is in negative territory for new ASIC miners.

Ummm. No it's not, dumbdumb.

Kindly let us know which ASIC miner gives positive ROI?

That's not what I'm saying. I'm saying you need to vertically integrate to maximize ROI. That means you have chip designers make the chips, then have the reels manufactured, and then the boards manufactured, and then mine with them, and finally sell it as second hand garbage once you milk 80% out of it. Same process bitfury and knc miner and all the other 'ASICs' selling to the dummies out there.

I agree with your concept, but wouldn't this generally require a significant amount of capital? I would think you would need to achieve an economy of scale in order for this to happen.

Yakamoto

legendary

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Ok so aside from the ongoing discussion,

Mining is not profitable unless you can pick up GH/s for REALLY cheap. Don't bother mining BTC, just go and mine some alts with the GPU in your computer. Far more profitable.

Make sure to find a semi-new coin with a large community, however, to lessen the likelihood that it's pump-n-dump.

There's a lot of alt mining going on nowadays, so you might as well jump on the bandwagon.

bitmarket.io

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Quote from: AdamSmith on June 16, 2014, 08:13:18 PM

Quote from: bitmarket.io on June 16, 2014, 03:23:24 PM

Quote from: AdamSmith on June 16, 2014, 12:46:37 PM

Quote from: bitmarket.io on June 16, 2014, 12:34:37 PM

It isn't when you deal with shady fucks on the forum.

You want profit, vertically integrate. Don't deal with anyone but the chip designers and manufacturers themselves.

Even then,the RoI is in negative territory for new ASIC miners.

Ummm. No it's not, dumbdumb.

Kindly let us know which ASIC miner gives positive ROI?

That's not what I'm saying. I'm saying you need to vertically integrate to maximize ROI. That means you have chip designers make the chips, then have the reels manufactured, and then the boards manufactured, and then mine with them, and finally sell it as second hand garbage once you milk 80% out of it. Same process bitfury and knc miner and all the other 'ASICs' selling to the dummies out there.

AdamSmith

full member

Activity: 142

Merit: 100

Quote from: bitmarket.io on June 16, 2014, 03:23:24 PM

Quote from: AdamSmith on June 16, 2014, 12:46:37 PM

Quote from: bitmarket.io on June 16, 2014, 12:34:37 PM

It isn't when you deal with shady fucks on the forum.

You want profit, vertically integrate. Don't deal with anyone but the chip designers and manufacturers themselves.

Even then,the RoI is in negative territory for new ASIC miners.

Ummm. No it's not, dumbdumb.

Kindly let us know which ASIC miner gives positive ROI?

_Miracle

hero member

Activity: 907

Merit: 660

Do due diligence

This is a very easy to use calculator

http://www.evolyn.net/bitcoin/mining_calc.php?version_major=2&version_minor=4&presents=none&h=180&MinerPowerDrain=350&MinerCosts=0&MinerDeliveryTime=0&NetworkBlockHeight=302160&Difficulty=8853416309.1278&DifChange0P=%2B25&DifChange0A=0&MiscUSDBTC=600&MiscUSDBTCChange0P=%2B0&MiscElectricityCosts=0.09&MiscCalculationLength=360&MiscShownIntervalLength=7&btn_startcalculate=true

ShakyhandsBTCer

sr. member

Activity: 448

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It's Money 2.0| It’s gold for nerds | It's Bitcoin

Quote from: AdamSmith on June 16, 2014, 12:14:23 PM

Competition is high among producers.

Profit is mostly in negative territory for ASIC and GPU mining.

GPU miners have long been unprofitable to even run.

You can now run ASICs profitably (mining revenues exceed electricity costs) but most market prices of miners are too high to ever reach ROI

JerryCurlzzz

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Quote from: ArbatDeli on June 16, 2014, 04:31:06 PM

It depends on the hash rate made available by your hardware and the network difficulty. I think difficulty is moving up too fast to get into mining now.

Are there any resources available, or places where people discuss speculation on the network difficulty? Seems you'd have to time it well to make good money if you are not a massive mining farm.

ArbatDeli

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It depends on the hash rate made available by your hardware and the network difficulty. I think difficulty is moving up too fast to get into mining now.

DannyElfman

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Maybe, maybe not. I can't wrap my head around difficulty and how to speculate on it, so I prefer to speculate just on BTC price.

bitmarket.io

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Quote from: AdamSmith on June 16, 2014, 12:46:37 PM

Quote from: bitmarket.io on June 16, 2014, 12:34:37 PM

It isn't when you deal with shady fucks on the forum.

You want profit, vertically integrate. Don't deal with anyone but the chip designers and manufacturers themselves.

Even then,the RoI is in negative territory for new ASIC miners.

Ummm. No it's not, dumbdumb.

AdamSmith

full member

Activity: 142

Merit: 100

Quote from: Berghoff on June 16, 2014, 02:33:27 PM

Quote from: JohanM on June 16, 2014, 07:02:46 AM

Simply: yes

The only ones who are making real money with mining are the company's that produc mining equipment.
They first use it to mine themselves and when the return starts to slow down, they ship it to their customers. That's why all the pre-orders on the latest mining equipment exits.

This makes sense. The people who got rich in the 1849 gold rush were the companies who produced the equipment to mine the gold.

I bought the USB miner just on a lark to just chug away and see what kind of return I got. A 1 THash miner would probably give me about 100% ROI if it can last for a few months. But as more and more miners come online, the rewards are going to decrease rapidly. And come next halving day, I sincerely doubt that transaction fees will increase sufficiently to make up for the 12.5BTC drop per block.

Either coin price has to double to make up for loss income, or difficulty has to cut in half to maintain the RoI.

Berghoff

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Quote from: JohanM on June 16, 2014, 07:02:46 AM

Simply: yes

The only ones who are making real money with mining are the company's that produc mining equipment.
They first use it to mine themselves and when the return starts to slow down, they ship it to their customers. That's why all the pre-orders on the latest mining equipment exits.

This makes sense. The people who got rich in the 1849 gold rush were the companies who produced the equipment to mine the gold.

I bought the USB miner just on a lark to just chug away and see what kind of return I got. A 1 THash miner would probably give me about 100% ROI if it can last for a few months. But as more and more miners come online, the rewards are going to decrease rapidly. And come next halving day, I sincerely doubt that transaction fees will increase sufficiently to make up for the 12.5BTC drop per block.

AdamSmith

full member

Activity: 142

Merit: 100

Quote from: DannyElfman on June 16, 2014, 01:52:24 PM

For a casual miner getting in now? Gut answer is no. Unless you are scrypt mining and speculating on low difficulty coins, that is.

Cheaper to buy low difficulty coin.

Normally, when a new coin launch, the developers give coin away to promote it.

Gianluca95

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Reputation first.

No, if you don't have much power in your farm and the electric energy is expensive, your mine is not profitable.

DannyElfman

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For a casual miner getting in now? Gut answer is no. Unless you are scrypt mining and speculating on low difficulty coins, that is.

AdamSmith

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Activity: 142

Merit: 100

Quote from: bitmarket.io on June 16, 2014, 12:34:37 PM

It isn't when you deal with shady fucks on the forum.

You want profit, vertically integrate. Don't deal with anyone but the chip designers and manufacturers themselves.

Even then,the RoI is in negative territory for new ASIC miners.

bitmarket.io

legendary

Activity: 1204

Merit: 1001

It isn't when you deal with shady fucks on the forum.

You want profit, vertically integrate. Don't deal with anyone but the chip designers and manufacturers themselves.

AdamSmith

full member

Activity: 142

Merit: 100

Competition is high among producers.

Profit is mostly in negative territory for ASIC and GPU mining.

debuni

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Quote from: JohanM on June 16, 2014, 07:02:46 AM

Quote from: Berghoff on June 16, 2014, 12:16:19 AM

Is this about right? Has mining become such a commodity right now that you might hope to recoup only a few percentage profit over time on a capital investment?

Simply: yes

The only ones who are making real money with mining are the company's that produc mining equipment.
They first use it to mine themselves and when the return starts to slow down, they ship it to their customers. That's why all the pre-orders on the latest mining equipment exits.

+1 Yes

And there is another type of companies which make profit - like cex.io with their overpriced GHs and very very high fees (about 0.26$ Ghs/month).
Nowadays this is the only way to have a decent profit, more than just very few percentage.

SHA-256 mining lost its high profile potential a long time ago.

Also check this calculator and see it for yourself:

https://tradeblock.com/mining/

JohanM

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Merit: 36

Quote from: Berghoff on June 16, 2014, 12:16:19 AM

Is this about right? Has mining become such a commodity right now that you might hope to recoup only a few percentage profit over time on a capital investment?

Simply: yes

The only ones who are making real money with mining are the company's that produc mining equipment.
They first use it to mine themselves and when the return starts to slow down, they ship it to their customers. That's why all the pre-orders on the latest mining equipment exits.

Topic: Is it profitable to mine? - page 2. (Read 3141 times)