Topic: Mining extinct? (Read 1479 times)

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The market price follows the inverse of the difficulty, and the trend is down. Except for random fluctuations and ignorant buyers, you should never make a profit buying and selling (unless you can sell short). Assuming that you don't have the ability to predict random fluctuations, your average gain from buying and selling will be negative. On the other hand, you could just get lucky, but remember that for every lucky person, there is the unlucky person on the other side of the trade -- not everyone can be lucky.

When I say "price" for Gh/S, I mean, market price. I can buy them and sell them, and make a profit on THAT as well. Unlike a mining machine, which I can't exactly call the company and return minus a 20% fee (though I COULD pawn it off on some sucker when it's not profitable, but I'm not that kind of person.)

Do you count conservative difficulty change +30% every 11 days ? This mean -30% mined coins every 11 days. And delivery time is important as well as you see from difficulty change

.....This indicates that people want it.....
Most people are speculators, when btc rising fast they will buy it and this is the way to fall down in any time.

So, if you do the math correctly, you will see that 1 GH/s will never earn 0.1 BTC, so paying 0.1 BTC for 1 GH/s is a money loser. On the other hand, like you said, 0.03 - 0.04 BTC ($6.50/$7.00) per GH/s will probably earn a decent profit, and I agree that calculating the return in BTC is necessary, and the return in dollars is irrelevant.

Mining will never be extinct as long as irrational participants are willing to mine with no hope for a positive return.  Just look at the airline industry if you want an example of a market where players continue to enter despite the fact that historically incumbents have only destroyed value.

It depends on your location, some people get as cheap as 0.02 cents a KWHs which makes me jealous..

Mining is extinct to some degree; however, we need miners to confirm blocks and pass it on to nodes.

I don't mine much any more.  The electricity is too expensive.

You know, I'm hoping so. Every estimate says we will make some sort of profit in a 5-month window, but I might be eating my words in 5 months when we have a set investment evaluation.

Pretty sure you've found yourself the holy grail there. Remember a guy who didn't something similar...

What machine was that to guarantee that sort of return with a rising difficulty?

Even if mining is extinct, you can still break into the Bitcoin market for free by using Devtome.

I've done the math repeatedly... It's not about up front costs, it's about price per Gh/S and how profitable said Gh/S are.
Mobile got it right with the idea of renting Gh/S or trading for them over at cex.io.

Even with an investment of .35 BTC, you can make 0.01 BTC/day. That was my first "trial" there and it was worth it. I'd invite you to check it out as well, because while I am "plugging it"... It's free to sign up and absolutely worth having Gh/S in your portfolio (they pay you!)

https://cex.io/r/0/neuros/0/

At time of writing, CEX.io (the service mentioned above) is 0.1045 BTC/Gh/S. This equates to about ~20 USD at current market rates. This option would not break even in under 30 days (I like tight schedules!), except you have the option to trade Gh/S back for BTC, so your initial investment is "refundable," depending on Gh/S to BTC market rates. You can also continually buy in to further Gh/S with your earnings, compounding your income.

That said, when we're looking at bigger hardware, anything that costs less than ~$6.50/$7.00 USD will break even in 30 days or less at current BTC/USD market rates. However, looking at being "paid back" in USD or other fiat shouldn't be important - the BTC should be.

I myself have ordered a large machine with a friend (less than 1Th/S but not small) and estimates show it should "pay itself back" within 30 days. The machine is $6.50 USD per Gh/S. Even if BTC falls to $100 and we assume a ridiculously high profitability decline of 0.1 or even 0.04 (unrealistic by the worst math), the machine pays itself back and turns a profit in a 90-day period. However, we are not looking to recoup USD, as we are looking for a set amount of BTC to break "even." Much of this BTC will go into EMA trading and Gh/S rental for continuing compounded income, hashing speed, and holdings.

Oh, I didn't even say hello, how rude.... Hello BitcoinTalk  

Especially if they have money upfront and so bad reputation they cant loose even reputation 

I don't know, but I would if I was them 

Thats true but Scrypt ASIC will be able to mine scrypt coins

But as pointed out already, development+manufacture costs are huge and there is not big enought price of Scrypt coins to make this venture profitable

Good point, do the hardware manufacturers do as you have? Build, mine, then sell? It makes economic sense. And is what I am doing at present as well!

They could, but it would cost far more to develop and manufacture than it would ever make.

The trading makes the money not the mining. I made a few £ as well, but only from buying and selling equipment at the right time and taking mining income inbetween.

The bottom line is if some hardware could be just plugged in and make money no one would sell it., they would keep it and mine.