bitcoinwisdom calculator is awesome. Too bad none of the calculation I input give me positive ROI unless I reduce the difficulty increment to 4%.
Can you lower your electricity price? 
Topic: Minning is wasting money, why still minners? (Read 5567 times)
bitcoinwisdom calculator is awesome. Too bad none of the calculation I input give me positive ROI unless I reduce the difficulty increment to 4%.
I think it depend how long we ROI,
and the BTC rate also determine.
Then we will gain profit
and the BTC rate also determine.
Then we will gain profit
The last calculator you will ever need.
Pay special close attention to the Days To Break Even!
http://www.vnbitcoin.org/litecoincalculator
Just to re-iterate, home miners who already have hardware can mine today in expectations of higher BTC prices in the future. They do not even have to break even today if they base their mining on a future BTC price of, sat, $900.
The prospective miner needs to balance the cost of the mining capacity against the cost of just buying the BTC. That is because mining capacity is a rapidly depreciating investment. In general, at BTC < $400 and 10% difficulty increases, you are better off buying the BTC.
This is in contrast to the situation for industrial miners who, at some level, must cash flow. So they have to sell their BTC.
The prospective miner needs to balance the cost of the mining capacity against the cost of just buying the BTC. That is because mining capacity is a rapidly depreciating investment. In general, at BTC < $400 and 10% difficulty increases, you are better off buying the BTC.
This is in contrast to the situation for industrial miners who, at some level, must cash flow. So they have to sell their BTC.
Actually, it doesn't matter if BTC price is at $900 or $400, you will still not ROI your mining gear in term of BTC. If the price is $900, the difficulty would increase faster..... So you are still better of buying BTC directly..
Can you please quantify these claims. I'm a bitcoin newbie and what you're saying contradicts online mining calculators. What am i missing here? I'm confused. Just trying to learn here.
If i buy an S4 which does 2 TH/s for 1500$ the online calculators say i can make 328$ per month at the current dif. and 318$ at the next. Wouldn't i break even at 5-6 months. My power costs are close to nil where i am.
Thanks in advance.
You need a better online calculator, none of my calculation is pointing ROI or break-even.
Can you please quantify these claims. I'm a bitcoin newbie and what you're saying contradicts online mining calculators. What am i missing here? I'm confused. Just trying to learn here.
If i buy an S4 which does 2 TH/s for 1500$ the online calculators say i can make 328$ per month at the current dif. and 318$ at the next. Wouldn't i break even at 5-6 months. My power costs are close to nil where i am.
Thanks in advance.
No, you won't as the mining difficulty increases and you wont be mining the same amount every month.
Just buying Bitcoin also clueless in long term, you should use it actively, promote it if you have a local business, and make the money flow.
Just to re-iterate, home miners who already have hardware can mine today in expectations of higher BTC prices in the future. They do not even have to break even today if they base their mining on a future BTC price of, sat, $900.
The prospective miner needs to balance the cost of the mining capacity against the cost of just buying the BTC. That is because mining capacity is a rapidly depreciating investment. In general, at BTC < $400 and 10% difficulty increases, you are better off buying the BTC.
This is in contrast to the situation for industrial miners who, at some level, must cash flow. So they have to sell their BTC.
The prospective miner needs to balance the cost of the mining capacity against the cost of just buying the BTC. That is because mining capacity is a rapidly depreciating investment. In general, at BTC < $400 and 10% difficulty increases, you are better off buying the BTC.
This is in contrast to the situation for industrial miners who, at some level, must cash flow. So they have to sell their BTC.
Actually, it doesn't matter if BTC price is at $900 or $400, you will still not ROI your mining gear in term of BTC. If the price is $900, the difficulty would increase faster..... So you are still better of buying BTC directly..
Can you please quantify these claims. I'm a bitcoin newbie and what you're saying contradicts online mining calculators. What am i missing here? I'm confused. Just trying to learn here.
If i buy an S4 which does 2 TH/s for 1500$ the online calculators say i can make 328$ per month at the current dif. and 318$ at the next. Wouldn't i break even at 5-6 months. My power costs are close to nil where i am.
Thanks in advance.
Actually, it doesn't matter if BTC price is at $900 or $400, you will still not ROI your mining gear in term of BTC. If the price is $900, the difficulty would increase faster..... So you are still better of buying BTC directly..
That's what I said. If you already have gear, keep mining. If not, buy BTC.Sell the gear instead
... Actually, it doesn't matter if BTC price is at $900 or $400, you will still not ROI your mining gear in term of BTC. If the price is $900, the difficulty would increase faster..... So you are still better of buying BTC directly..
That's what I said. If you already have gear, keep mining. If not, buy BTC. Just to re-iterate, home miners who already have hardware can mine today in expectations of higher BTC prices in the future. They do not even have to break even today if they base their mining on a future BTC price of, sat, $900.
The prospective miner needs to balance the cost of the mining capacity against the cost of just buying the BTC. That is because mining capacity is a rapidly depreciating investment. In general, at BTC < $400 and 10% difficulty increases, you are better off buying the BTC.
This is in contrast to the situation for industrial miners who, at some level, must cash flow. So they have to sell their BTC.
The prospective miner needs to balance the cost of the mining capacity against the cost of just buying the BTC. That is because mining capacity is a rapidly depreciating investment. In general, at BTC < $400 and 10% difficulty increases, you are better off buying the BTC.
This is in contrast to the situation for industrial miners who, at some level, must cash flow. So they have to sell their BTC.
Actually, it doesn't matter if BTC price is at $900 or $400, you will still not ROI your mining gear in term of BTC. If the price is $900, the difficulty would increase faster..... So you are still better of buying BTC directly..
Just to re-iterate, home miners who already have hardware can mine today in expectations of higher BTC prices in the future. They do not even have to break even today if they base their mining on a future BTC price of, sat, $900.
The prospective miner needs to balance the cost of the mining capacity against the cost of just buying the BTC. That is because mining capacity is a rapidly depreciating investment. In general, at BTC < $400 and 10% difficulty increases, you are better off buying the BTC.
This is in contrast to the situation for industrial miners who, at some level, must cash flow. So they have to sell their BTC.
The prospective miner needs to balance the cost of the mining capacity against the cost of just buying the BTC. That is because mining capacity is a rapidly depreciating investment. In general, at BTC < $400 and 10% difficulty increases, you are better off buying the BTC.
This is in contrast to the situation for industrial miners who, at some level, must cash flow. So they have to sell their BTC.
My miners are now running as heaters.
Example: Two S1's under-volted work great for my home office. I don't need to run the oil fired single zone steam boiler when I work from home 2 days a week.
Example: Two S1's under-volted work great for my home office. I don't need to run the oil fired single zone steam boiler when I work from home 2 days a week.
But oil is much more cheaper as compare to heat my electricity right? Unless your s1 profit can really cover the electricity bill, if not then its still not worth it..
My miners are now running as heaters.
Example: Two S1's under-volted work great for my home office. I don't need to run the oil fired single zone steam boiler when I work from home 2 days a week.
Example: Two S1's under-volted work great for my home office. I don't need to run the oil fired single zone steam boiler when I work from home 2 days a week.
Not everyone is good at calculating the ASIC usage and many bills were paid by parents..
Mining behavior objectively provide network security support, while obtaining benefits. But now the mining difficulty, has been making small miners can not survive.By mining, solve money generated fairness problem.
Mining is not wasting money and still profitable in certain countries and can break even despite of the BTC slump.
But for us? Don't bother even thinking of mining unless you are one of 3rd nation citizen dude lol
Why would major corporates relocate their sweat shop factories to 3rd nations?
Apple Inc can’t make enough money if iPhone is manufactured in states. They develop Bitcoin-QT logic and cgminer etc and let the Chinese slaves to the labor because it’s feasible to maintain the network with little compensation to them.
You want to be naïve and join the slaves – maintain the network propaganda? Help yourself out.
Rather than thinking of mining and getting petty reward (but not that petty for slaves), we should build and preach the Bitcoin to neighbors, use it locally, adopt Bitcoin payment system if you have local legit business running etc.
Let the mining for the slaves so they can buy some meatbun for their reward.
But for us? Don't bother even thinking of mining unless you are one of 3rd nation citizen dude lol
Why would major corporates relocate their sweat shop factories to 3rd nations?
Apple Inc can’t make enough money if iPhone is manufactured in states. They develop Bitcoin-QT logic and cgminer etc and let the Chinese slaves to the labor because it’s feasible to maintain the network with little compensation to them.
You want to be naïve and join the slaves – maintain the network propaganda? Help yourself out.
Rather than thinking of mining and getting petty reward (but not that petty for slaves), we should build and preach the Bitcoin to neighbors, use it locally, adopt Bitcoin payment system if you have local legit business running etc.
Let the mining for the slaves so they can buy some meatbun for their reward.
I have an avalon2 230 GH machine I got about 9 months ago... I turned it off about 3 months ago... It was good t first but I never got the ROI...
With so many new coins out there, surely these sub TH machines can be pointed at a different coin. I can't be bothered to do the research.
I just turned my machine on for a month as my wife is away and she hates the noise even if it is way in the background.
Anyone pointing their Bitcoin asics at another coin?
I wish I just spent the money on BTC at the time but was excited to mine... Even if I break even on just the electricity I am stoked to generate some BTC to invest in my favorite alts.
With so many new coins out there, surely these sub TH machines can be pointed at a different coin. I can't be bothered to do the research.
I just turned my machine on for a month as my wife is away and she hates the noise even if it is way in the background.
Anyone pointing their Bitcoin asics at another coin?
I wish I just spent the money on BTC at the time but was excited to mine... Even if I break even on just the electricity I am stoked to generate some BTC to invest in my favorite alts.
is there anybody purchasing new hardware or cloud hasing contracts?
I haven't seen any cloud hashing contract profitable after doing 2-3 calculations.
Why invest money in ASIC cards or any other brand, when the bitcoin price is trending down?
I haven't seen any hardware that you can purchase now and get at least the money back even with free electricity
Am I missing something?
I'm using this calculator:
http://mining-profit.com/advanced-calculator
if anyone is making positive returns, can you show here with numbers?
I haven't seen any cloud hashing contract profitable after doing 2-3 calculations.
Why invest money in ASIC cards or any other brand, when the bitcoin price is trending down?
I haven't seen any hardware that you can purchase now and get at least the money back even with free electricity
Am I missing something?
I'm using this calculator:
http://mining-profit.com/advanced-calculator
if anyone is making positive returns, can you show here with numbers?
I've been contemplating to go into mining but after what I have read in here, gotta think twice untill mining is profitable
- Electricity Bill for every country in the world is different ,and in some country you can get cheap electricity with bribe someone who has authority to do that.
- Maybe miner still hope that BTC price or other coins will raise someday.
So now with btc below $400 we can say yes mining is wasting money ,but we don't know what happen next.
- Maybe miner still hope that BTC price or other coins will raise someday.
So now with btc below $400 we can say yes mining is wasting money ,but we don't know what happen next.
If whatever happens next, it only applies to already brought mining hardware.
For those who are going to get miners are 100% losers at this time.
They should wait for BTC value to appreciate before buying new hardware.
Otherwise, buy BTC directly is the best and less risky method.
If money is not a concern and hobby mentality cracking in your brain, buy a hardware now!
Hahahaha agree with this ,good point.
All miners will take a deep breath after reading this
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