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
this guy is too much...
I haven't updated that post. Its when bitcoins used to be worth $2.50-$5.
Quote
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Currently, I only ship to the US. However, we can arrange something for international shipping if you pm me.
BEATS HEADPHONES
Hi, I am selling Beats by Dre Tours. These are fake, however, they can be sold for a lot of money to people that do not know much about the specifics of the headphones; in fact, they are very close replicas, with amazing sound quality, and they have always passed when I sold them.
I bought these a few months back from a distributor in china and made a bit of cash selling to my friends from 45$-60$ USD.
If you want to buy them, they are 3 BTC each, I can do US ONLY shipping for a flat fee of .5 BTC for the tours. PM me if you want to arrange international shipping.
Each set comes individually packed in its own sealed back with 1 set of removable earbuds and the headphones. These are all brand new. As for quality, the cable is bright red, like the real ones, the B's on the earbuds look official, and the sound quality is very similar.
_______________________________________
I am also selling Beats by Dre Pros. These are also fake, however, they can be sold for over $300. They are very close replicas and the sound is as good as or even better than the real Beats Pros.
I bought these a few months back from a distributor in china and made a bit of cash selling to my friends from $250-$350 USD.
If you want to buy them, they are 17 BTC each, I can do US ONLY shipping for a flat fee of 2.5 BTC for the pros. PM me if you want to arrange international shipping.
Each Pro comes individually box in a replica box. The box looks 100% real and also includes all the contents included in the real pros. The pros are all brand new, never used. The cables are all the right color, and it includes a Beast pro carrying case. The sound quality is astonishing.
CURRENT STOCK
[12] Beats by Dre Tours BLACK SEALED : 3 BTC each + .5 BTC FLAT FEE FOR SHIPPING (4.5 TOTAL)
[2 Black] [1 White] Beats by Dre Pros WHITE IN OFFICIAL BOX WITH MANUAL & ACCESSORIES: 17 BTC each + 2.5 BTC FLAT FEE FOR SHIPPING (19.5 TOTAL)
_______________________________________
If you want to arrange a bundle please pm me. These prices are what I think are the best, if you want to offer me a price what you would pay for it, I'll let you know if I accept it.
Pay Here: 1Q9nyaePYxXhPx3mQFR5SJXobpedmzictG
Currently, I only ship to the US. However, we can arrange something for international shipping if you pm me.
BEATS HEADPHONES
Hi, I am selling Beats by Dre Tours. These are fake, however, they can be sold for a lot of money to people that do not know much about the specifics of the headphones; in fact, they are very close replicas, with amazing sound quality, and they have always passed when I sold them.
I bought these a few months back from a distributor in china and made a bit of cash selling to my friends from 45$-60$ USD.
If you want to buy them, they are 3 BTC each, I can do US ONLY shipping for a flat fee of .5 BTC for the tours. PM me if you want to arrange international shipping.
Each set comes individually packed in its own sealed back with 1 set of removable earbuds and the headphones. These are all brand new. As for quality, the cable is bright red, like the real ones, the B's on the earbuds look official, and the sound quality is very similar.
_______________________________________
I am also selling Beats by Dre Pros. These are also fake, however, they can be sold for over $300. They are very close replicas and the sound is as good as or even better than the real Beats Pros.
I bought these a few months back from a distributor in china and made a bit of cash selling to my friends from $250-$350 USD.
If you want to buy them, they are 17 BTC each, I can do US ONLY shipping for a flat fee of 2.5 BTC for the pros. PM me if you want to arrange international shipping.
Each Pro comes individually box in a replica box. The box looks 100% real and also includes all the contents included in the real pros. The pros are all brand new, never used. The cables are all the right color, and it includes a Beast pro carrying case. The sound quality is astonishing.
CURRENT STOCK
[12] Beats by Dre Tours BLACK SEALED : 3 BTC each + .5 BTC FLAT FEE FOR SHIPPING (4.5 TOTAL)
[2 Black] [1 White] Beats by Dre Pros WHITE IN OFFICIAL BOX WITH MANUAL & ACCESSORIES: 17 BTC each + 2.5 BTC FLAT FEE FOR SHIPPING (19.5 TOTAL)
_______________________________________
If you want to arrange a bundle please pm me. These prices are what I think are the best, if you want to offer me a price what you would pay for it, I'll let you know if I accept it.
Pay Here: 1Q9nyaePYxXhPx3mQFR5SJXobpedmzictG
IS SELLING OVERPRICED KNOCK-OFF HEADPHONES TO YOUR "FRIENDS" REALLY WORTH IT?
Yes you should leave your pc on all the time and writing in all caps increases your hash rate.
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! 
2.6 million dollars per bitcoin? I'll sell all my bitcoins for that! I got 13!
LETS TALK ABOUT IF BITCOIN MINING IS REALLY WORTH THE COST OF ALL THE COMPONENTS AND HARDWARE
Tip me for my hard work
Tip me for my hard work
Oh man that's funny.
No, it's not worth it.
Please go home.
LETS TALK ABOUT IF BITCOIN MINING IS REALLY WORTH THE COST OF ALL THE COMPONENTS AND HARDWARE
Tip me for my hard work
FacepalmTip me for my hard work
PS : Being told on the Internet "Your CAPS are LOCKED" is the same as being told in public "You forgot to wear pants"
No... wait, I mean NO!
Unless you are going to go big, you should go home.
Unless you are going to go big, you should go home.
LETS TALK ABOUT IF BITCOIN MINING IS REALLY WORTH THE COST OF ALL THE COMPONENTS AND HARDWARE
No.
It depends. In phiat phunny monies it can be prophitable:
@OP l2Math and you tell us.
Rofl.
But to seriously answer the OP's question: Would there be entire forums dedicated to people who mine bitcoins if it wasn't profitable? >___>
But to seriously answer the OP's question: Would there be entire forums dedicated to people who mine bitcoins if it wasn't profitable? >___>
LETS TALK ABOUT IF BITCOIN MINING IS REALLY WORTH THE COST OF ALL THE COMPONENTS AND HARDWARE
No.
LETS TALK ABOUT IF BITCOIN MINING IS REALLY WORTH THE COST OF ALL THE COMPONENTS AND HARDWARE
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