Minning is wasting money, why still minners? - page 3.

redsn0w

legendary

Activity: 1778

Merit: 1043

#Free market

Quote from: ?? on ??

Quote from: redsn0w on October 07, 2014, 11:53:17 AM

check this story :

Quote from: 1l1l11ll1l on October 06, 2014, 09:04:33 PM

Yeah, Price + Difficulty = S1 and Jupiter retirement.

All said and done about 50TH offline now. Dunno what I'm going to do with them.

https://i.imgur.com/XBX3DVj.jpg
https://i.imgur.com/8drZ50F.jpg
https://i.imgur.com/uxKwz9j.jpg

The home mining is dead sometimes ago.

This isn't your example of home mining now is it? What I was reading was that his equipment was in a warehouse and he would be paying a different type of electric (probably commercial rate) This is usually a bit higher than your regular rate. Regardless homeminers shouldn't be looking to make a quick profit but a long one, if electric is low enough they can beat the price of coins by mining. (undervolted s1's and possibly s3)

At the end he isn't a farm , so this category is "home mining" with 1 - 2 or 50 Ths . Because he bought this asic hardware and he hasn't produced it , but the big farm produce the chip and mine whit it .

toptek

legendary

Activity: 1274

Merit: 1000

194.00 or 0.58 BTC about for S3 b10 on bitmains site at least there stying with in coin prices. Should be lower guess they have to eat to.

bitzcointalk

member

Activity: 111

Merit: 10

My avatar is in the shop

Hardware cannot reach a return on the investment. So... NO. Bad idea. Expect to lose your investment. Check calculators with a difficulty change over time to see if in 1 month you will be making the same... you won't be... there is simply too much hardware being brought online by too many manufacturers and they have only hurt themselves. Do not buy hardware, you will loose your investment. They are now knowingly trying to sell you goods they know you cannot profit from, but simple calculators say that you will.
Good Luck.

allcoinminer

hero member

Activity: 784

Merit: 504

Quote from: cryptotraders on October 07, 2014, 01:54:13 PM

I tried cloud minning at cex.io and hashop.io and then I regret.
waste a money.

In cloud mining there is conflict of interest between cloud service provider and the customers.
The level playing field for both of their are "almost"(Not all) same.

cryptotraders

newbie

Activity: 11

Merit: 0

I tried cloud minning at cex.io and hashop.io and then I regret.
waste a money.

allcoinminer

hero member

Activity: 784

Merit: 504

Quote from: redsn0w on October 07, 2014, 11:53:17 AM

check this story :

Quote from: 1l1l11ll1l on October 06, 2014, 09:04:33 PM

Yeah, Price + Difficulty = S1 and Jupiter retirement.

All said and done about 50TH offline now. Dunno what I'm going to do with them.

https://i.imgur.com/XBX3DVj.jpg
https://i.imgur.com/8drZ50F.jpg
https://i.imgur.com/uxKwz9j.jpg

The home mining is dead sometimes ago.

After Antminer S3, it very difficult to survive as a home miner.
BTC value got corrected too much instead of jerking at or above $1000.

spiceminer15

sr. member

Activity: 336

Merit: 250

i'll take all your s1. they still profitable for me undervolted

redsn0w

legendary

Activity: 1778

Merit: 1043

#Free market

check this story :

Quote from: 1l1l11ll1l on October 06, 2014, 09:04:33 PM

Yeah, Price + Difficulty = S1 and Jupiter retirement.

All said and done about 50TH offline now. Dunno what I'm going to do with them.

https://i.imgur.com/XBX3DVj.jpg
https://i.imgur.com/8drZ50F.jpg
https://i.imgur.com/uxKwz9j.jpg

The home mining is dead sometimes ago.

Stargazer

sr. member

Activity: 641

Merit: 253

▰▰▰ Global Cryptocurrency Paymen

If bitcoin survives the following months and rises again it will just show how motivated the community is.
Let's give it time and see. It may yet be one of the best decissions in your life (or the worst).

puwaha

sr. member

Activity: 700

Merit: 294

Quote from: Kprawn on October 07, 2014, 07:18:36 AM

For me it's basically a experiment, to see if I can get to ROI or not, even if the odds/math are stacked against you.

Why do gold miners mine at a loss? {They just love the gold} It's a rush to see Satoshi's being created out of nothing. Grin

Nothing ventured, nothing gained. I like it.

Kprawn

legendary

Activity: 1904

Merit: 1074

For me it's basically a experiment, to see if I can get to ROI or not, even if the odds/math are stacked against you.

Why do gold miners mine at a loss? {They just love the gold} It's a rush to see Satoshi's being created out of nothing. Grin

allcoinminer

hero member

Activity: 784

Merit: 504

Quote from: spiceminer15 on October 07, 2014, 02:28:47 AM

Quote from: allcoinminer on October 07, 2014, 02:18:02 AM

At the current price of BTC mining is not profitable even if electricity charges are not factoring in.
When saying not profitable, I mean no ROI for any mining hardware whether its new, second hand or cloud-mining at their current price.
These manufacturers need to drop the price from highs to get the business back for home miners and small farm owners.

this isn't true. it depends on the cost of electricity and how much you buy the mining gear for

Yes it depends on as you said. But I said about the current facts.
No mining hardware is available to buy to ROI at this time.

spiceminer15

sr. member

Activity: 336

Merit: 250

Quote from: allcoinminer on October 07, 2014, 02:18:02 AM

At the current price of BTC mining is not profitable even if electricity charges are not factoring in.
When saying not profitable, I mean no ROI for any mining hardware whether its new, second hand or cloud-mining at their current price.
These manufacturers need to drop the price from highs to get the business back for home miners and small farm owners.

this isn't true. it depends on the cost of electricity and how much you buy the mining gear for

allcoinminer

hero member

Activity: 784

Merit: 504

At the current price of BTC mining is not profitable even if electricity charges are not factoring in.
When saying not profitable, I mean no ROI for any mining hardware whether its new, second hand or cloud-mining at their current price.
These manufacturers need to drop the price from highs to get the business back for home miners and small farm owners.

Snorek

legendary

Activity: 1400

Merit: 1001

Why are you people complaining? Mining is good if you can do the math first and calculate if you gonna be on top or not. The only factor that can change really is bitcoin price or difficulty of mining. Everything else you can calculate before.

kanazawa

hero member

Activity: 756

Merit: 500

I only think that mining at home is great when you got PV systems or a wind generator, etc. You know, free electricity... the costs with energy is so f***** high. omfg.

PolarPoint

hero member

Activity: 672

Merit: 500

Most people mine because they think they can mine more coins than the cost of the miner PLUS the resale value of the miner before the miner becomes obsolete.

spiceminer15

sr. member

Activity: 336

Merit: 250

buy used asic cheap and mining is profitable still even at $300. with decent elec prices.

BTC would have to be about $100 for me to lose profitability right now with 0.064 power rate

pumawolf

sr. member

Activity: 968

Merit: 250

u gotta have a stragtegy, treating it as a money printing machine will almost always lose. to profit u gotta put some effort in , research the whole industry daily. buy and sell, trade hardware/cloudmining, u gotta be flexible to get in and out of the market depending on the situation.

Etanllah

sr. member

Activity: 426

Merit: 250

There's a handful of cloud mining services that allow you to hit ROI in a decent timeframe:

LTCGear
Gawminers Hashlets
genesis-mining.com

I think one of the keys is to reinvest your earnings to keep accumulating your hashpower.

Topic: Minning is wasting money, why still minners? - page 3. (Read 5567 times)