Topic: Is mining dead ? - page 9. (Read 12911 times)

you can hope for something like 21 inc in the future, they are planning to make casual mining possible again, but the problem is that earning will always be abysmally low, and even more lower with the incoming block halving

the only two others option, are hosting in a cheap electricty zone and cloudmining, but search only for those where you can sell your contract at anytime

yes, for you as a person it is true. problem is current (low price) of bitcoin and diff, so it might be easier again once price will somehow raise..

If you have free electricity, no.  No miner is obsolete when it takes nothing to run and spits out BTC.  As GigaBit has said, it may be profitable if you have extremely cheap power, but if not, yes it is dead.  I pay 11 cents a kilowatt here so I only make a couple cents a day, but it's the fun I'm after, not just money.  It's also why I've been buying cheap solar panels to run some little USB miners solo mining.  It's like a free lottery (if you don't include the cost of the solar panels...).

that is true and there is not a posibility about easyness of mining since asics come out

Here's the deal... I'm one of the last standing profitable home miners but I made sacrifices to get free power.
Unless you got free or extremely cheap power <$0.05 per KW.h then it's a losing game.
Alternatively, you can pay for power out of pocket and wallet all your mined coin.
Even at that, with free power, I got about 6TH.s right now and only make about $15 a day... and I'm being generous.
I make more than that but I sell hardware and hashing contracts.
With power costs I would be in the hole and be stuck paying for power out of pocket again.
Right now my pwoer bill is tiny, I only turn it on when renewable ran out.

If you pay for power and bank the coin, then you have the best chances for a ROI down the line.
Right now, there aren't any ROI's possible without free power.

I used to encourage new miners, now I discourage them because most have no idea of the task at hand.
They also think they're gonna go plug a few machines and make a killing...
Just like in Gold, people think they're gonna go dig a hole and get rich... well you can but not likely for a n00b.
Then same people get upset when "mining industry constants" get involved in crypto mining and they don't make as much...
I don't know how many people complain abotu incosistent earnings... well, the same is said in Gold mining.
At least in cryptos, you have a rough idea of what you're going to get.
In Gold, you only know once the gold is assayed.... you lose a lot via refining.

It's mining either on of offline, most who enter it go back home broke and become trolls.
Yeah, they exist in Gold mining too... but they're much sadder in Gold mining.

Another thing that serves me well is my knowledge of Gold mining and its history... I also mine Gold IRL.
If you don't have working capital (Around $5,000) and intend on selling coin to make ends meet, don't get into mining.
If you're the type of person who needs to have everything go perfectly smooth all the time, mining ain't for you.

Mining is taking a whole lot bunch of nothings and making 1 something work non-stop... if you don't get it, you won't get mining.
It's also jury rig things to get your ass back to coin generation and only accept minimal downtime.

On the other hand if you don't care about he money and just looking for education and a fun time, then mining might be for you.
Most successful miners will agree:  Mining is addictive but so much fun!

IE: I spent my morning replacing a power bar, I used a shitty extension cord to free an older powerbar.
That was my fuckup for not having a spare power bar.
However, I jury rigged something and I'm back mining full force.

Moral is, if you can't tackle adversity and bully your way through, then don't come up here...

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?