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Topic: Q2- Mining These Days COST YOU More than it GIVES - page 2. (Read 3409 times)

Gator-hex
hero member
Activity: 490
Merit: 500
Re: Q2- Mining These Days COST YOU More than it GIVES
January 20, 2014, 03:58:21 PM
#18
Quote from: timk225 on January 19, 2014, 04:25:46 PM
No one here REALLY cares about the long term viability of Bitcoin or any other coin.  We all just want to get more money (US Dollars).

Wrong, I care, I want to be free to trade with anyone in the world, at zero cost, using a currency not backed by debt servitude (bondage/slavery).
raskul
sr. member
Activity: 434
Merit: 250
Re: Q2- Mining These Days COST YOU More than it GIVES
January 20, 2014, 03:28:38 PM
#17
Quote from: cdog on January 20, 2014, 03:38:23 AM
Quote from: timk225 on January 19, 2014, 08:52:30 PM
Well, I am only in this to make a profit.

Well it was nice meeting you, if only in passing. Please close the door behind you on the way out, thanks.

You can leave the light on though. We will be here for a while.  Wink

+1

 Cool
cdog
hero member
Activity: 1036
Merit: 500
Re: Q2- Mining These Days COST YOU More than it GIVES
January 20, 2014, 03:38:23 AM
#16
Quote from: timk225 on January 19, 2014, 08:52:30 PM
Well, I am only in this to make a profit.

Well it was nice meeting you, if only in passing. Please close the door behind you on the way out, thanks.

You can leave the light on though. We will be here for a while.  Wink
krampus
member
Activity: 98
Merit: 10
Village Idiot
Re: Q2- Mining These Days COST YOU More than it GIVES
January 20, 2014, 12:06:58 AM
#15
Quote from: timk225 on January 19, 2014, 04:25:46 PM
No one here REALLY cares about the long term viability of Bitcoin or any other coin.  We all just want to get more money (US Dollars).

I'm just here for the scintillating conversation.
timk225
hero member
Activity: 955
Merit: 1004
Re: Q2- Mining These Days COST YOU More than it GIVES
January 19, 2014, 08:52:30 PM
#14
Well, I am only in this to make a profit.  And when it is no longer profitable to mine Scrypt coins and/or trade them into BTC for resale, I'm out.  I don't give a damn about securing the network through continued mining.
byt411
hero member
Activity: 798
Merit: 1000
Re: Q2- Mining These Days COST YOU More than it GIVES
January 19, 2014, 05:13:00 PM
#13
Quote from: timk225 on January 19, 2014, 04:25:46 PM
No one here REALLY cares about the long term viability of Bitcoin or any other coin.  We all just want to get more money (US Dollars).



You are highly incorrect...
Some of us, are mining, not for profit, but to support the BitCoin Network System. Voluntarily.
satosh007
full member
Activity: 168
Merit: 100
Re: Q2- Mining These Days COST YOU More than it GIVES
January 19, 2014, 04:40:58 PM
#12
-yes
but not all mining;
what are you mining? and what is your investment length plan?
answering those questions after making a good market study might help you redirect your efforts into a better choice.
timk225
hero member
Activity: 955
Merit: 1004
Re: Q2- Mining These Days COST YOU More than it GIVES
January 19, 2014, 04:25:46 PM
#11
No one here REALLY cares about the long term viability of Bitcoin or any other coin.  We all just want to get more money (US Dollars).

byt411
hero member
Activity: 798
Merit: 1000
Re: Q2- Mining These Days COST YOU More than it GIVES
January 19, 2014, 03:12:18 PM
#10
Quote from: bit.alex on January 19, 2014, 01:37:47 PM
Quote from: Kenshin on January 19, 2014, 12:04:55 PM
Quote from: byt411 on January 19, 2014, 12:03:30 PM
Quote from: ymer on January 19, 2014, 11:25:45 AM
That is correct OP, that is why difficulty keeps increasing.


 Wink

And as difficulty increases, it gets even more unprofitable to mine.

That is why there will be no more miner one day.  Undecided

This is incorrect. Mining is like an open market. As soon as it gets unprofitable, people leave, making it more profitable again. It's self stabilizing. That's the beauty Smiley

Also, if there will be not many miners left, that'll mean you will be able to earn tons of money mining, because it will be much easier. Then again, if it's extremely profitable, a lot of people jump in and make it barely profitable.

Hope you understood Smiley

Correct. And right now there are too many miners and too many ASICs on the market.
bit.alex
newbie
Activity: 28
Merit: 0
Re: Q2- Mining These Days COST YOU More than it GIVES
January 19, 2014, 01:37:47 PM
#9
Quote from: Kenshin on January 19, 2014, 12:04:55 PM
Quote from: byt411 on January 19, 2014, 12:03:30 PM
Quote from: ymer on January 19, 2014, 11:25:45 AM
That is correct OP, that is why difficulty keeps increasing.


 Wink

And as difficulty increases, it gets even more unprofitable to mine.

That is why there will be no more miner one day.  Undecided

This is incorrect. Mining is like an open market. As soon as it gets unprofitable, people leave, making it more profitable again. It's self stabilizing. That's the beauty Smiley

Also, if there will be not many miners left, that'll mean you will be able to earn tons of money mining, because it will be much easier. Then again, if it's extremely profitable, a lot of people jump in and make it barely profitable.

Hope you understood Smiley
Kenshin
sr. member
Activity: 280
Merit: 250
Re: Q2- Mining These Days COST YOU More than it GIVES
January 19, 2014, 12:04:55 PM
#8
Quote from: byt411 on January 19, 2014, 12:03:30 PM
Quote from: ymer on January 19, 2014, 11:25:45 AM
That is correct OP, that is why difficulty keeps increasing.


 Wink

And as difficulty increases, it gets even more unprofitable to mine.

That is why there will be no more miner one day.  Undecided
byt411
hero member
Activity: 798
Merit: 1000
Re: Q2- Mining These Days COST YOU More than it GIVES
January 19, 2014, 12:03:30 PM
#7
Quote from: ymer on January 19, 2014, 11:25:45 AM
That is correct OP, that is why difficulty keeps increasing.


 Wink

And as difficulty increases, it gets even more unprofitable to mine.
ymer
sr. member
Activity: 308
Merit: 250
Re: Q2- Mining These Days COST YOU More than it GIVES
January 19, 2014, 11:25:45 AM
#6
That is correct OP, that is why difficulty keeps increasing.


 Wink
byt411
hero member
Activity: 798
Merit: 1000
Re: Q2- Mining These Days COST YOU More than it GIVES
January 18, 2014, 12:29:20 PM
#5
Quote from: Hash72 on January 18, 2014, 11:53:23 AM
So the NEAR solution for starters to buy BTC waiting for possible increase

AS other said UP 10 000 =BTC

Yes, that is correct, if all you want is to earn money.
Hash72
sr. member
Activity: 294
Merit: 250
★YoBit.Net★ 350+ Coins Exchange & Dice
Re: Q2- Mining These Days COST YOU More than it GIVES
January 18, 2014, 11:53:23 AM
#4
So the NEAR solution for starters to buy BTC waiting for possible increase

AS other said UP 10 000 =BTC
byt411
hero member
Activity: 798
Merit: 1000
Re: Q2- Mining These Days COST YOU More than it GIVES
January 18, 2014, 09:58:14 AM
#3
Quote from: Hash72 on January 18, 2014, 09:43:21 AM
Hi
Q2- Mining These Days COST YOU More than it GIVES ..Specially with BTC

This what figured after a couple days of reading in this forum ..is this correct ?

Thanks

For GPUs and CPUs and most FPGAs, that is correct.
For some ASICS that is correct too.

Unless you have free electricity. But your devices would still take a long time to break even.
manobra
full member
Activity: 151
Merit: 100
Re: Q2- Mining These Days COST YOU More than it GIVES
January 18, 2014, 09:55:42 AM
#2
Yes
Hash72
sr. member
Activity: 294
Merit: 250
★YoBit.Net★ 350+ Coins Exchange & Dice
Re: Q2- Mining These Days COST YOU More than it GIVES
January 18, 2014, 09:43:21 AM
#1
Hi
Q2- Mining These Days COST YOU More than it GIVES ..Specially with BTC

This what figured after a couple days of reading in this forum ..is this correct ?

Thanks
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