Topic: IS MINING REALLY WORTH IT (Read 10611 times)
My 6 BFLs have now paid themselves off, including electricity usage, PSU, and all other components to get it working
Maybe.
At this time I would not invest in GPUs for mining, but am quite happy to keep my existing GPUs running.
It seems likely that, in a small number of months, lots of ASICs will come online and the difficulty will go up.
It is autumn, winter before very long so... if electricity costs x per kWh, and the Bitcoins are worth y per kWh spent, and the heat generated by the GPUs reduces the cost of gas for heat by z per kWh, is the sum of y and z greater than x?
Or maybe the correct plan is to offload GPUs on eBay _before_ the point in time when GPU mining becomes obviously unprofitable and the value of a used HD5870 drops to almost 0.
Interesting times.
At this time I would not invest in GPUs for mining, but am quite happy to keep my existing GPUs running.
It seems likely that, in a small number of months, lots of ASICs will come online and the difficulty will go up.
It is autumn, winter before very long so... if electricity costs x per kWh, and the Bitcoins are worth y per kWh spent, and the heat generated by the GPUs reduces the cost of gas for heat by z per kWh, is the sum of y and z greater than x?
Or maybe the correct plan is to offload GPUs on eBay _before_ the point in time when GPU mining becomes obviously unprofitable and the value of a used HD5870 drops to almost 0.
Interesting times.
GPUs are still profitable, but not for long.
LETS TALK ABOUT IF BITCOIN MINING IS REALLY WORTH THE COST OF ALL THE COMPONENTS AND HARDWARE
if you buy ASIC, then yes
some people on here have 6 mini rigs and more... do the math
We're all being sarcastic, we know it's very profitable
some people on here have 6 mini rigs and more... do the math
No, mining isn't worth it at all.
Stop now and maybe the difficulty will go back below 2 million at some point
Stop now and maybe the difficulty will go back below 2 million at some point
Ha!
I agree...not worth it in the least. Spread the word that mining is a pain to set up and far from profitable. I'd love to see a decrease in difficulty before ASICs hit
This winter i am going to keep hashing with my 5 VGAs just for the subsidized heating (speaking 'bout poor-man mining), like last winter. Then we'll see
depends
It is kind of like asking.. "will I make money buying X stock??"
The answer: Maybe, depends on a LOT of factors.
1. the price of BTC over the next few months
2. how long until ASICs and the stupid rise in difficulty.
3. how much BTC you earn from your hardware until such time
4. how much you can resell the hardware for once it is obsolete
The answer: Maybe, depends on a LOT of factors.
1. the price of BTC over the next few months
2. how long until ASICs and the stupid rise in difficulty.
3. how much BTC you earn from your hardware until such time
4. how much you can resell the hardware for once it is obsolete
Guys I had caps lock on lol
Caps just blow my mind! Some people hate them, some love them, some just go nuts with them. Caps lock freak me out man! ha ha!
GPU mining Profitability decreasing with such high difficulty rise. It is 2,190,866 now!!
Not sure if i agree. A few months ago i was making 2 btc per day but price was 4-5. Now making about 1 btc per day yet price is almost 12. Things improved actually.
The problem is if you have made more money than simply hoarding the money you spent to buy the hardware.
GPU mining Profitability decreasing with such high difficulty rise. It is 2,190,866 now!!
Not sure if i agree. A few months ago i was making 2 btc per day but price was 4-5. Now making about 1 btc per day yet price is almost 12. Things improved actually.
GPU mining Profitability decreasing with such high difficulty rise. It is 2,190,866 now!!
Not sure if i agree. A few months ago i was making 2 btc per day but price was 4-5. Now making about 1 btc per day yet price is almost 12. Things improved actually.
The correct answer is you have to account for opportunity cost.
Mining is "one" way to receive bitcoins. The other way is to buy it from others.
Thus as the market value of bitcoin rises it creates an incentive to invest in mining hardware and generate your "own" bitcoins.
If you compare the market value of bitcoin and the mining difficulty you see strong correlations.
However, the whole thing is a chicken and egg problem. You don't know whether mining difficulty causes an increase in market value (because miners won't sell lower than their costs) or whether the increased market value actually causes an increase in mining difficulty. Haven't done a lagtime analysis between both - but would be interesting.
Mining is "one" way to receive bitcoins. The other way is to buy it from others.
Thus as the market value of bitcoin rises it creates an incentive to invest in mining hardware and generate your "own" bitcoins.
If you compare the market value of bitcoin and the mining difficulty you see strong correlations.
However, the whole thing is a chicken and egg problem. You don't know whether mining difficulty causes an increase in market value (because miners won't sell lower than their costs) or whether the increased market value actually causes an increase in mining difficulty. Haven't done a lagtime analysis between both - but would be interesting.
GPU mining Profitability decreasing with such high difficulty rise. It is 2,190,866 now!!
Well, you can make money out of mining just... if you are careful enough to buy shares low and sell high; actual dividends from actual mining are a nice premium 
AM I RIGHT? (sorry, trying to conform to the spirit of the topic )
AM I RIGHT? (sorry, trying to conform to the spirit of the topic
) 
Guys I had caps lock on lol
LETS TALK ABOUT IF BITCOIN MINING IS REALLY WORTH THE COST OF ALL THE COMPONENTS AND HARDWARE
Once you switch off CAPS LOCK, using the first row of your keyboard results in digits instead of some weird symbols, and voila, you can now calculate this on your own!
No, mining isn't worth it at all.
Stop now and maybe the difficulty will go back below 2 million at some point
Stop now and maybe the difficulty will go back below 2 million at some point
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