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It's not really supporting the network though, especially if you only have a few TH/s.
There's already over 250 PH/s on the network, most of which are by those huge industrial mining operations. If you pull your miners or shut them off, no one will even notice. So in actuality you're just really losing money for no reason.
If you really want to support it, just serve as a node, evangelize Bitcoin to your friends, family, or co-workers, and generally just continue to use it when you can.
Mining isn't supporting Bitcoin for the home/hobby user. It's just making your pockets alot lighter.
There's already over 250 PH/s on the network, most of which are by those huge industrial mining operations. If you pull your miners or shut them off, no one will even notice. So in actuality you're just really losing money for no reason.
If you really want to support it, just serve as a node, evangelize Bitcoin to your friends, family, or co-workers, and generally just continue to use it when you can.
Mining isn't supporting Bitcoin for the home/hobby user. It's just making your pockets alot lighter.
really good answers and straight into the point! thank you guys
now the question is: how big is the margin for the farms that even when the price drops they still make profits? -for margin I mean the cost of producing the ASIC miners.
thanks
Alot of these manufacturers offset alot of these costs to produce these asic miners, by selling outdated used miners to customers like us after they've mined all profitably out of it.
These same manufacturers also hedge their bets by selling mining contracts or cloud mining, which almost fully guarantees profit on their end, since it locks in customers on a term contract and tacks on maintenance fees on top.
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