Topic: Is mining still a good idea? - page 2. (Read 4911 times)
Unless you have some sort of privilege like cheap electricity and discounted mining rigs, then not really. Some people do it for fun still though.
Don't mine if you need to pay bills with BTC
Mine if you love tech and speculate that your positioning in the ledger will result in portfolio diversification and long term financial stability
In the end its your time and money so just try to enjoy the ride, absord the good and reject the bad (know it all's)
Mine if you love tech and speculate that your positioning in the ledger will result in portfolio diversification and long term financial stability
In the end its your time and money so just try to enjoy the ride, absord the good and reject the bad (know it all's)
I don't know that I agree. Are you taking about electricity bills? I have a sizable one every month that I need to pay or I need to get rid of old gear if it's no longer profitable.
I love mining and playing with the machines. It's almost an addiction to me I just have to try out a lot of miners as it's so much fun. But I also want a ROI long term. So far I have been able to keep it going. Hopefully that continues.
If I did it just for love I would need to scale down a lot if I was losing money compared to electricity bill.
not to mention that even big farm are paying their bills, so why someone should mine only with free electricity? no-sense
you can mine if your roi is fast that's it, you can make it faster by selling your asic
If you live in a place where electricity is really cheap or free and if you can buy a second hand ASIC it may be profitable, at least until the halving but you should have reimbursed your purchase at this time.
Don't mine if you need to pay bills with BTC
Mine if you love tech and speculate that your positioning in the ledger will result in portfolio diversification and long term financial stability
In the end its your time and money so just try to enjoy the ride, absord the good and reject the bad (know it all's)
Mine if you love tech and speculate that your positioning in the ledger will result in portfolio diversification and long term financial stability
In the end its your time and money so just try to enjoy the ride, absord the good and reject the bad (know it all's)
I don't know that I agree. Are you taking about electricity bills? I have a sizable one every month that I need to pay or I need to get rid of old gear if it's no longer profitable.
I love mining and playing with the machines. It's almost an addiction to me I just have to try out a lot of miners as it's so much fun. But I also want a ROI long term. So far I have been able to keep it going. Hopefully that continues.
If I did it just for love I would need to scale down a lot if I was losing money compared to electricity bill.
Don't mine if you need to pay bills with BTC
Mine if you love tech and speculate that your positioning in the ledger will result in portfolio diversification and long term financial stability
In the end its your time and money so just try to enjoy the ride, absord the good and reject the bad (know it all's)
Mine if you love tech and speculate that your positioning in the ledger will result in portfolio diversification and long term financial stability
In the end its your time and money so just try to enjoy the ride, absord the good and reject the bad (know it all's)
It should be a hobby and stay a hobby. There is no way you will get your money out of it.
The miners market is run by big time bitcoin farms now.
There are plenty of home miners mining now. Sure larger farms are slowly taking control with a diversity of proucts.The miners market is run by big time bitcoin farms now.
But since mining (when you have a low electricty fee) is still profitable, there is enough incentive for miners to keep on mining.
Hobby miners do have the advantage though over home. Able to do larger amount of watts, and also most hobby use 220/240 so that is a decent advantage when getting new gear and PSU's. A good server PSU is less then a nice ATX almost always.
Home miners do have the advantage during winter of using them to heat a house, but some miners are loud so just varies. I think we will see more go to hobby size or very little at home. Not sure 100 percent which way the market will go.
It should be a hobby and stay a hobby. There is no way you will get your money out of it.
The miners market is run by big time bitcoin farms now.
There are plenty of home miners mining now. Sure larger farms are slowly taking control with a diversity of proucts.The miners market is run by big time bitcoin farms now.
But since mining (when you have a low electricty fee) is still profitable, there is enough incentive for miners to keep on mining.
Hobby miners do have the advantage though over home. Able to do larger amount of watts, and also most hobby use 220/240 so that is a decent advantage when getting new gear and PSU's. A good server PSU is less then a nice ATX almost always.
Home miners do have the advantage during winter of using them to heat a house, but some miners are loud so just varies. I think we will see more go to hobby size or very little at home. Not sure 100 percent which way the market will go.
It should be a hobby and stay a hobby. There is no way you will get your money out of it.
The miners market is run by big time bitcoin farms now.
There are plenty of home miners mining now. Sure larger farms are slowly taking control with a diversity of proucts.The miners market is run by big time bitcoin farms now.
But since mining (when you have a low electricty fee) is still profitable, there is enough incentive for miners to keep on mining.
It should be a hobby and stay a hobby. There is no way you will get your money out of it.
The miners market is run by big time bitcoin farms now.
The miners market is run by big time bitcoin farms now.
No it isn't, stop and dont do it!
As many have said... Keep it as a hobby first and keep profit the very last thing in mind.
With the right equipment bought at the right price, and paying energy at a low price, you can earn some bucks.
Yes bucks, the time where you could make a small fortune with mining is long gone.
Yes bucks, the time where you could make a small fortune with mining is long gone.
It can still be profitable if you mine altcoins and exchange to bitcoins.
'm still considering getting into mining and one benefit I can say is simply gaining knowledge and experience about these stuff. This is one of the direction to go push after all you are already into bitcoin.
'm still considering getting into mining and one benefit I can say is simply gaining knowledge and experience about these stuff. This is one of the direction to go push after all you are already into bitcoin.
I think if you buy one bitcoin now and wait till the halving i think you could make more profits, but the market is unpredecible so dont trust me
If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...
There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again...
There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again...
Well with the price 450 USD and having a Antminer S7 + a energy rate of like 10 cent / kW the ROI period is less then 120 days. It's a little bit high yes but 'doable' even more if you expect the price to rise even more.
But looking towards the difficulty that skyrocket big time see:
https://bitcoinwisdom.com/bitcoin/difficulty
It's very risky again. Therefore i wouldn't advice to buy mining gear right now.
Because if u are, then it will be profitable for me
so then I am very interested.he forget diff, but right now a s7 can earn you a nice profit, and consumption is around $45 per month with 0.05, with 0.1 is double that
earning is $360, but the next diff jump will put us on another +10% or so, still plenty of room for profit
But difficulty jump ain't just one thing, halving is another and the price is the most considerable topic to be focused when it comes to mining, as buying for least BTC at higher prices might look good, but even if you get that ROI in BTC in 6 months and the price is slashed 50% down, then I guess it's double your wait to just gain your ROI in full, I mean the one will need to wait a year instead of the mentioned 6 months...
well halving is not tomorrow, plenty of room for profit, 7 months, plus you can always resell, s7 can be sold again at the same price at whch you bought it, unless the price of bitcoin skyrocket too much and you payed in bitcoin
but this is another story, better to pay in fiat your asic
Prety smart actually if it is true what u are saying.
it will not work for long time frame, you must resell in 6 months, or at least some months before new asic ome out, in this way it will retain more its value
If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...
There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again...
There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again...
Well with the price 450 USD and having a Antminer S7 + a energy rate of like 10 cent / kW the ROI period is less then 120 days. It's a little bit high yes but 'doable' even more if you expect the price to rise even more.
But looking towards the difficulty that skyrocket big time see:
https://bitcoinwisdom.com/bitcoin/difficulty
It's very risky again. Therefore i wouldn't advice to buy mining gear right now.
Because if u are, then it will be profitable for me
so then I am very interested.he forget diff, but right now a s7 can earn you a nice profit, and consumption is around $45 per month with 0.05, with 0.1 is double that
earning is $360, but the next diff jump will put us on another +10% or so, still plenty of room for profit
But difficulty jump ain't just one thing, halving is another and the price is the most considerable topic to be focused when it comes to mining, as buying for least BTC at higher prices might look good, but even if you get that ROI in BTC in 6 months and the price is slashed 50% down, then I guess it's double your wait to just gain your ROI in full, I mean the one will need to wait a year instead of the mentioned 6 months...
well halving is not tomorrow, plenty of room for profit, 7 months, plus you can always resell, s7 can be sold again at the same price at whch you bought it, unless the price of bitcoin skyrocket too much and you payed in bitcoin
but this is another story, better to pay in fiat your asic
The life span of a miner is not that much, they might be the best ones, but you really don't know that till when the miners will work...
Even we need to look for many factors like AC or DC, the stability of electricity, fluctuations, etc., and then too it's a machine in the end...
It's important to understand the "functional lifespan" of a piece of hardware compared to it's "economic lifespan". ASIC mining hardware does NOT have a long "economic lifespan" (i.e the point at which it's not longer viable to run). The usual answer is to sell it off to somebody with a lower operating cost.
I would also suggest that in some, possibly many, cases you'll sell your miner to somebody that doesn't truly understand the economics of Bitcoin mining. I am 90% certain I have never "broken even" (aka ROI) until I sell the hardware. The less kind way to put that is "The greater fool strategy". Works best when BTC price is high, assuming you do your ROI calculations in fiat currency (as I do). Mining hardware seems to have a greater value on the used market when BTC price is high.
I would also suggest that in some, possibly many, cases you'll sell your miner to somebody that doesn't truly understand the economics of Bitcoin mining. I am 90% certain I have never "broken even" (aka ROI) until I sell the hardware. The less kind way to put that is "The greater fool strategy". Works best when BTC price is high, assuming you do your ROI calculations in fiat currency (as I do). Mining hardware seems to have a greater value on the used market when BTC price is high.
If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...
There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again...
There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again...
Well with the price 450 USD and having a Antminer S7 + a energy rate of like 10 cent / kW the ROI period is less then 120 days. It's a little bit high yes but 'doable' even more if you expect the price to rise even more.
But looking towards the difficulty that skyrocket big time see:
https://bitcoinwisdom.com/bitcoin/difficulty
It's very risky again. Therefore i wouldn't advice to buy mining gear right now.
Because if u are, then it will be profitable for me
so then I am very interested.he forget diff, but right now a s7 can earn you a nice profit, and consumption is around $45 per month with 0.05, with 0.1 is double that
earning is $360, but the next diff jump will put us on another +10% or so, still plenty of room for profit
But difficulty jump ain't just one thing, halving is another and the price is the most considerable topic to be focused when it comes to mining, as buying for least BTC at higher prices might look good, but even if you get that ROI in BTC in 6 months and the price is slashed 50% down, then I guess it's double your wait to just gain your ROI in full, I mean the one will need to wait a year instead of the mentioned 6 months...
well halving is not tomorrow, plenty of room for profit, 7 months, plus you can always resell, s7 can be sold again at the same price at whch you bought it, unless the price of bitcoin skyrocket too much and you payed in bitcoin
but this is another story, better to pay in fiat your asic
Prety smart actually if it is true what u are saying.
Miners we are not talking about years.... a miner's life is much shorter then this. He was talking 7 months which is fair amount of time in mining world.
You mine till profit is not to high, and sell to "free" or very cheap electricity. They get it and you get a little more money to add on to ROI, or for some might make them ROI. But no miner is year's as far as realistic life.
If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...
There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again...
There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again...
Well with the price 450 USD and having a Antminer S7 + a energy rate of like 10 cent / kW the ROI period is less then 120 days. It's a little bit high yes but 'doable' even more if you expect the price to rise even more.
But looking towards the difficulty that skyrocket big time see:
https://bitcoinwisdom.com/bitcoin/difficulty
It's very risky again. Therefore i wouldn't advice to buy mining gear right now.
Because if u are, then it will be profitable for me
so then I am very interested.he forget diff, but right now a s7 can earn you a nice profit, and consumption is around $45 per month with 0.05, with 0.1 is double that
earning is $360, but the next diff jump will put us on another +10% or so, still plenty of room for profit
But difficulty jump ain't just one thing, halving is another and the price is the most considerable topic to be focused when it comes to mining, as buying for least BTC at higher prices might look good, but even if you get that ROI in BTC in 6 months and the price is slashed 50% down, then I guess it's double your wait to just gain your ROI in full, I mean the one will need to wait a year instead of the mentioned 6 months...
well halving is not tomorrow, plenty of room for profit, 7 months, plus you can always resell, s7 can be sold again at the same price at whch you bought it, unless the price of bitcoin skyrocket too much and you payed in bitcoin
but this is another story, better to pay in fiat your asic
Prety smart actually if it is true what u are saying.
If you have free electricity and if the prices remain stable at where they are, I mean more than $450, then there's a chance you can get out with some nice profit in the next few months, but that too before halving, as nobody knows what will be the scenario after halving takes place...
There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again...
There are chances that people might lose interest in Bitcoins, or might there happen something like a big pump that could take BTC to somewhere that will drag everyone's attention towards it again...
Well with the price 450 USD and having a Antminer S7 + a energy rate of like 10 cent / kW the ROI period is less then 120 days. It's a little bit high yes but 'doable' even more if you expect the price to rise even more.
But looking towards the difficulty that skyrocket big time see:
https://bitcoinwisdom.com/bitcoin/difficulty
It's very risky again. Therefore i wouldn't advice to buy mining gear right now.
Because if u are, then it will be profitable for me
so then I am very interested.he forget diff, but right now a s7 can earn you a nice profit, and consumption is around $45 per month with 0.05, with 0.1 is double that
earning is $360, but the next diff jump will put us on another +10% or so, still plenty of room for profit
But difficulty jump ain't just one thing, halving is another and the price is the most considerable topic to be focused when it comes to mining, as buying for least BTC at higher prices might look good, but even if you get that ROI in BTC in 6 months and the price is slashed 50% down, then I guess it's double your wait to just gain your ROI in full, I mean the one will need to wait a year instead of the mentioned 6 months...
well halving is not tomorrow, plenty of room for profit, 7 months, plus you can always resell, s7 can be sold again at the same price at whch you bought it, unless the price of bitcoin skyrocket too much and you payed in bitcoin
but this is another story, better to pay in fiat your asic
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