If YOU can afford to mine now, do it. If YOU can't afford to mine, don't.
Nobody knows if it will be profitable or not, until YOU sell the coins YOU mine.
Pretty simple.
Topic: It appears that our bitcoin bretheren have been creating FUD amongst Miners (Read 998 times)
January 13, 2014, 01:28:19 AM
January 12, 2014, 11:01:57 PM
People can make their own choice whether they want to mine or not.
However, my gut feeling is that the amount of BTC a miner gets is dependant on his hashing power compared to the rest of the network, so of course he wants to discourage an increase in hash rate.
But they do have a point, unless you have a recent ASIC, you might not make back your electricity cost from mining, in addition to your machine's cost.
And no one can really predict what's going to happen 3 months from now, with all the new manufacturers popping up.
However, my gut feeling is that the amount of BTC a miner gets is dependant on his hashing power compared to the rest of the network, so of course he wants to discourage an increase in hash rate.
But they do have a point, unless you have a recent ASIC, you might not make back your electricity cost from mining, in addition to your machine's cost.
And no one can really predict what's going to happen 3 months from now, with all the new manufacturers popping up.
January 12, 2014, 09:17:15 PM
I have noticed a disturbing trend amongst some of the threads in this sub-forum trying to convince people that distributed mining is not worth it.
Be assured that mining is a rigorous activity. A miner needs to have their finger on the pulse of every aspect of Bitcoin right from speculation to hardware. This has always been the case for miners throughout the ages so you are in good company.
The Bitcoin model hinges on distributed mining and without it the security of the Bitcoin network is at risk. The success of Bitcoin rests solely in the hands of distributed miners.
The day that mining becomes centralized will be the day that it can be subverted by governments.
So I say to everyone reading this, keep mining regardless of your reason...we are the best hope of the Bitcoin networks survival.
Be assured that mining is a rigorous activity. A miner needs to have their finger on the pulse of every aspect of Bitcoin right from speculation to hardware. This has always been the case for miners throughout the ages so you are in good company.
The Bitcoin model hinges on distributed mining and without it the security of the Bitcoin network is at risk. The success of Bitcoin rests solely in the hands of distributed miners.
The day that mining becomes centralized will be the day that it can be subverted by governments.
So I say to everyone reading this, keep mining regardless of your reason...we are the best hope of the Bitcoin networks survival.
So you're saying we should all mine at a loss and in turn make all of the manufactures disgustingly rich in the process?
Sign me the fuck up please!
Until the risk reward ratio for manufacture and customer changes significantly there is very little justification for the small miners to try and compete at this point.
January 12, 2014, 07:39:11 PM
I have noticed a disturbing trend amongst some of the threads in this sub-forum trying to convince people that distributed mining is not worth it.
Be assured that mining is a rigorous activity. A miner needs to have their finger on the pulse of every aspect of Bitcoin right from speculation to hardware. This has always been the case for miners throughout the ages so you are in good company.
The Bitcoin model hinges on distributed mining and without it the security of the Bitcoin network is at risk. The success of Bitcoin rests solely in the hands of distributed miners.
The day that mining becomes centralized will be the day that it can be subverted by governments.
So I say to everyone reading this, keep mining regardless of your reason...we are the best hope of the Bitcoin networks survival.
Be assured that mining is a rigorous activity. A miner needs to have their finger on the pulse of every aspect of Bitcoin right from speculation to hardware. This has always been the case for miners throughout the ages so you are in good company.
The Bitcoin model hinges on distributed mining and without it the security of the Bitcoin network is at risk. The success of Bitcoin rests solely in the hands of distributed miners.
The day that mining becomes centralized will be the day that it can be subverted by governments.
So I say to everyone reading this, keep mining regardless of your reason...we are the best hope of the Bitcoin networks survival.
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