Is mining dead ? - page 5. | Bitcointalksearch.org

notlist3d

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Quote from: Raimonn on October 19, 2015, 10:17:22 AM

Minning isn't dead. But you will not make money with an usb miner at your home. You can be minning some satoshis at your home but as a hobby.
Minning now is more professional, big minning companies with lot of new designed miners and small electricity prices. If you want to be successful in mining against these big groups you will need a lot of money to invest buying the best miners and you will need a very few electricity price.

It is far from dead but USB stick miners have a cost that will not ROI in most cases. It just costs quite a bit to produce it and they have smaller hashing speed then a bigger unit.

You need decent electricity but yes many can still mine. Heck price has even been going up so its easier for some.

Raimonn

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Minning isn't dead. But you will not make money with an usb miner at your home. You can be minning some satoshis at your home but as a hobby.
Minning now is more professional, big minning companies with lot of new designed miners and small electricity prices. If you want to be successful in mining against these big groups you will need a lot of money to invest buying the best miners and you will need a very few electricity price.

YuginKadoya

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Quote from: matrix zion on October 19, 2015, 12:03:45 AM

Not worth it IMO, You will likely not make a profit, and maybe not even break even because of the difficulty rises

How can you say that? in mining difficulty always comes first, before you profit in these industry you will face lots of hardships before obtaining the BTC that you desire! many miner now a days is very persistent and has a no surrender attitude, and has earn lots and lots in mining, I don't believe that mining is dead.

matrix zion

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Not worth it IMO, You will likely not make a profit, and maybe not even break even because of the difficulty rises

notlist3d

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Quote from: Hannu on October 18, 2015, 02:57:49 PM

Quote from: Clint on June 06, 2015, 02:12:38 PM

Hi, when I got into bitcoins, people around me already told me mining is dead. BTC mining will not make you any money because the electricity fee used will be greater than the outcome. Is this true? And how can btc mining be easier again?

Hello,

Really! Mining is not profitable. Same they say to me. Its nice hobby but nothing else. Embarrassed

Mining is not one size fit's all. With things such as electricity and Vat. It's just very different for each person.

In my case I am able to mine profitable. I consider myself a "hobby miner" not a "home miner". I think its in between home and full out living from BTC. But it really is not dead and has lots of life currently.

Hannu

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RIP: S5, A faithful device long time

Quote from: Clint on June 06, 2015, 02:12:38 PM

Hi, when I got into bitcoins, people around me already told me mining is dead. BTC mining will not make you any money because the electricity fee used will be greater than the outcome. Is this true? And how can btc mining be easier again?

Hello,

Really! Mining is not profitable. Same they say to me. Its nice hobby but nothing else. Embarrassed

pjsonowal

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We can say mining is a kind off dead now as now most of the btc dont want to invest money on. Asiic miners and waste money on bills... So slowly slowly miners are packing up from mining

knowhow

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Well im sure not all people that keep mining are soo lucky as these but well i needed to share a sucess history to who his trying dont give up maybe the lucky one day knock your doors https://bitcointalk.org/index.php?topic=1132914.new#new.And yes some people still earn and able to roi .

YuginKadoya

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Quote from: knowhow on October 14, 2015, 04:28:05 PM

Well miners keep being developed with more th inside and less energy consumer ,without free or solar energy or wind this investment will be harder to achieve at the current price ,mine and pay the eletricity bill is insane if you have free power well is 50% faster to be able to roi only mining.At Brazil they charge around 50 to 70% fee from exported product making this being almost impossible to try it withouy free energy that some people has,but well the cost is very high compared to others countries.

Well although electricity has a high risk for expenses in mining, you can still calculate it's cost rate, and for that it is not impossible to ROI, and now that the winter is coming it is good to mine in weather conditions like these! Grin

notlist3d

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Quote from: DrG on October 14, 2015, 03:05:36 PM

That price run up is the annual holiday eggnog special. It will drop once the booze wears off Tongue

With the slow buildup I have a little more hope in it. Were less than on year away from having. We are not seeing huge bumps/jumps.

I think a slow nice buildup might just stay. I'm hoping we have this trend stay. I think it is here to stay for a bit, long term I'm not sure.

knowhow

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Well miners keep being developed with more th inside and less energy consumer ,without free or solar energy or wind this investment will be harder to achieve at the current price ,mine and pay the eletricity bill is insane if you have free power well is 50% faster to be able to roi only mining.At Brazil they charge around 50 to 70% fee from exported product making this being almost impossible to try it withouy free energy that some people has,but well the cost is very high compared to others countries.

DrG

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That price run up is the annual holiday eggnog special. It will drop once the booze wears off Tongue

notlist3d

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Quote from: Amph on October 14, 2015, 07:27:53 AM

Quote from: ilikemandarin on October 14, 2015, 05:19:47 AM

Mining will be profitable again when btc halve on 2016. I hope. Wink

Cause i hope price will rise.

it's the opposite, there is more chances that mining will be even more dead iof the price of btc will not double at least

how the halvign can even help the miners is beyond me, the reward will be halved not doubled

We are seeing a slow build up on price right now. It really depends on price of BTC. If it goes up considerable yes happy days, all miners continue.

But if not most likely miners will be looking for lower powered machines. I'm sure more and more efficient miners are to come.

Amph

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Quote from: ilikemandarin on October 14, 2015, 05:19:47 AM

Mining will be profitable again when btc halve on 2016. I hope. Wink

Cause i hope price will rise.

it's the opposite, there is more chances that mining will be even more dead if the price of btc will not double at least

how the halving can even help the miners is beyond me, the reward will be halved not doubled

ilikemandarin

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Mining will be profitable again when btc halve on 2016. I hope. Wink

Cause i hope price will rise.

notlist3d

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Quote from: RichBC on October 08, 2015, 03:38:19 AM

Quote from: YuginKadoya on October 08, 2015, 03:18:07 AM

Quote from: Clint on June 06, 2015, 02:12:38 PM

Hi, when I got into bitcoins, people around me already told me mining is dead. BTC mining will not make you any money because the electricity fee used will be greater than the outcome. Is this true? And how can btc mining be easier again?

It is not true, there are still a lot of people mining for bitcoins, and there are still someone making mining machines for better
productivity, If you are a newbie in mining you need to research a bit, and try reading bitcoins for beginners guide.
or if you know someone who has experience in mining then ask him if where to start, what machine that is best to fit for
you and I think you can achieve your desired ROI. Grin

Although mining is far from dead, just look at the steady increase in the network Hash Rate, it is getting progressively more difficult for the Home Miner with an Electricity cost greater than 10 Cents (Mine is 15 Cents) to stay in the game as the Difficulty increases and with Bitcoin halving next Year.

Putting aside ROI and just thinking about making more money than the electricity cost (Which as a latecomer is my objective) I am ok at the moment with a standard S5. By undervolting and reducing the frequency I can still make money up to the Halving. At that point even an S7 will need electricity under 12 Cents to make money.

So it makes life a lot easier if you have under 5 Cents electricity. If not you have to work hard at when to buy, when to sell and how to modify for best efficiency to stay in the game.

Rich

There are some that love to go around and say mining is dead. They enjoy spreading it. But with right conditions you can still ROI.

Winter is coming up some even use miners to heat rooms. You can find a way to ROI in most cases (as long as difficulty does not have huge jump). If 10 cents or under and decently new gear you will do ok.

RichBC

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Quote from: YuginKadoya on October 08, 2015, 03:18:07 AM

Quote from: Clint on June 06, 2015, 02:12:38 PM

Hi, when I got into bitcoins, people around me already told me mining is dead. BTC mining will not make you any money because the electricity fee used will be greater than the outcome. Is this true? And how can btc mining be easier again?

It is not true, there are still a lot of people mining for bitcoins, and there are still someone making mining machines for better
productivity, If you are a newbie in mining you need to research a bit, and try reading bitcoins for beginners guide.
or if you know someone who has experience in mining then ask him if where to start, what machine that is best to fit for
you and I think you can achieve your desired ROI. Grin

Although mining is far from dead, just look at the steady increase in the network Hash Rate, it is getting progressively more difficult for the Home Miner with an Electricity cost greater than 10 Cents (Mine is 15 Cents) to stay in the game as the Difficulty increases and with Bitcoin halving next Year.

Putting aside ROI and just thinking about making more money than the electricity cost (Which as a latecomer is my objective) I am ok at the moment with a standard S5. By undervolting and reducing the frequency I can still make money up to the Halving. At that point even an S7 will need electricity under 12 Cents to make money.

So it makes life a lot easier if you have under 5 Cents electricity. If not you have to work hard at when to buy, when to sell and how to modify for best efficiency to stay in the game.

Rich

YuginKadoya

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Activity: 3038

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Quote from: Clint on June 06, 2015, 02:12:38 PM

Hi, when I got into bitcoins, people around me already told me mining is dead. BTC mining will not make you any money because the electricity fee used will be greater than the outcome. Is this true? And how can btc mining be easier again?

It is not true, there are still a lot of people mining for bitcoins, and there are still someone making mining machines for better
productivity, If you are a newbie in mining you need to research a bit, and try reading bitcoins for beginners guide.
or if you know someone who has experience in mining then ask him if where to start, what machine that is best to fit for
you and I think you can achieve your desired ROI. Grin

notlist3d

legendary

Activity: 1456

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Quote from: Jake-R on October 07, 2015, 10:31:35 AM

If mining was dead then nobody would be mining. At Eligius there is 14,730 Th/s of mining going on at the moment. Somebody is still mining.

Mining will never be deal. This is true, as many people such as me are addicted. Even if a tad loss I will always have a machine (If I was losing it would be just 1 machine not multiple like i have now trying to ROI). It is a hobby I enjoy I get so much fun out of it. I could say I'm trying to save the network and keep decentralized but fact is I just love to mine.

But even in these times peopl still can ROI. Some will take selling the miner to do it in the end. But i think a lot would be surprised how many do ROI.

Jake-R

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If mining was dead then nobody would be mining. At Eligius there is 14,730 Th/s of mining going on at the moment. Somebody is still mining.

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