mining is no no
and, lets switch to trading
Topic: Reasons Mining Will NEVER Be Profitable - page 3. (Read 6982 times)
uh.... so...
mining is no no
and, lets switch to trading
mining is no no
and, lets switch to trading
So after a 3.08% jump does mining look better?
Some More reasons mining can become profitable:
super mining centers may be a victim of terror , earthquake, fire, flooding.
Too many eggs in a basket run big losses.
We all should remember what happened when WD hdd plant flooded.
Or right now as I type Israel and Gaza are tossing missiles back and forth.
God forbid one drops into the sp30 plant.
Or the next Tsunami hits and floods something in china.
Concentration of large power sucking btc mines is asking for a plant to be destroyed one way or another.
some big mines here at this link are all in 1 spot.
http://blockchain.info/pools
there is a solo address with 5%
another solo address with 4%
a third solo address with 1%
this trend will lead to a crash and burn of a big plant it is just the way things work.
To say BTC mining will never be profitable is silly.
To say BTC mining may be hard to make a profit is better.
But if you are in position like right now (next jump is 10 or more days) and coins jump overnight to 1200usd you make a ton of money in the next 10 days or so.
Some More reasons mining can become profitable:
super mining centers may be a victim of terror , earthquake, fire, flooding.
Too many eggs in a basket run big losses.
We all should remember what happened when WD hdd plant flooded.
Or right now as I type Israel and Gaza are tossing missiles back and forth.
God forbid one drops into the sp30 plant.
Or the next Tsunami hits and floods something in china.
Concentration of large power sucking btc mines is asking for a plant to be destroyed one way or another.
some big mines here at this link are all in 1 spot.
http://blockchain.info/pools
there is a solo address with 5%
another solo address with 4%
a third solo address with 1%
this trend will lead to a crash and burn of a big plant it is just the way things work.
To say BTC mining will never be profitable is silly.
To say BTC mining may be hard to make a profit is better.
But if you are in position like right now (next jump is 10 or more days) and coins jump overnight to 1200usd you make a ton of money in the next 10 days or so.
I don't think it was your intention but it sure seems like you're hoping for terror attacks, destructive war and devastating natural disasters to keep bitcoin mining marginally profitable for a few more months.
Maybe I'm a bit to "peace & love" to see death and destruction as a temporary cure to mining woes.
WORDS lol
So after a 3.08% jump does mining look better?
Some More reasons mining can become profitable:
super mining centers may be a victim of terror , earthquake, fire, flooding.
Too many eggs in a basket run big losses.
We all should remember what happened when WD hdd plant flooded.
Or right now as I type Israel and Gaza are tossing missiles back and forth.
God forbid one drops into the sp30 plant.
Or the next Tsunami hits and floods something in china.
Concentration of large power sucking btc mines is asking for a plant to be destroyed one way or another.
some big mines here at this link are all in 1 spot.
http://blockchain.info/pools
there is a solo address with 5%
another solo address with 4%
a third solo address with 1%
this trend will lead to a crash and burn of a big plant it is just the way things work.
To say BTC mining will never be profitable is silly.
To say BTC mining may be hard to make a profit is better.
But if you are in position like right now (next jump is 10 or more days) and coins jump overnight to 1200usd you make a ton of money in the next 10 days or so.
Some More reasons mining can become profitable:
super mining centers may be a victim of terror , earthquake, fire, flooding.
Too many eggs in a basket run big losses.
We all should remember what happened when WD hdd plant flooded.
Or right now as I type Israel and Gaza are tossing missiles back and forth.
God forbid one drops into the sp30 plant.
Or the next Tsunami hits and floods something in china.
Concentration of large power sucking btc mines is asking for a plant to be destroyed one way or another.
some big mines here at this link are all in 1 spot.
http://blockchain.info/pools
there is a solo address with 5%
another solo address with 4%
a third solo address with 1%
this trend will lead to a crash and burn of a big plant it is just the way things work.
To say BTC mining will never be profitable is silly.
To say BTC mining may be hard to make a profit is better.
But if you are in position like right now (next jump is 10 or more days) and coins jump overnight to 1200usd you make a ton of money in the next 10 days or so.
reasons...
when BTC price dropped down to $1
BTC or miner will be just like trash
but if BTC price shoot thru ur roof ended up stable at $1000
then mining will be profitable for about 2months before everybody bulk buy miners and run them
when BTC price dropped down to $1
BTC or miner will be just like trash
but if BTC price shoot thru ur roof ended up stable at $1000
then mining will be profitable for about 2months before everybody bulk buy miners and run them
sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
mmmm, so how do we create a coin that the asic manufacturers can't muscle in on the little guy at home mining a few coins. RandomCoin, a coin that simply generates coins at Random maybe.
What about a coin, or Bitcoin protocol variation that looks at the network and says, because of the current difficulty, I'm only going to give you a 0.0001% chance of generating a Block.
That way, no matter how powerful your mining equipment, you have the same odds as someone CPU mining at home.
This would not work because someone could simply dev an ASIC that "pretends" to be many different people thus increasing their odds of finding a block What about a coin, or Bitcoin protocol variation that looks at the network and says, because of the current difficulty, I'm only going to give you a 0.0001% chance of generating a Block.
That way, no matter how powerful your mining equipment, you have the same odds as someone CPU mining at home.
mmmm, so how do we create a coin that the asic manufacturers can't muscle in on the little guy at home mining a few coins. RandomCoin, a coin that simply generates coins at Random maybe.
What about a coin, or Bitcoin protocol variation that looks at the network and says, because of the current difficulty, I'm only going to give you a 0.0001% chance of generating a Block.
That way, no matter how powerful your mining equipment, you have the same odds as someone CPU mining at home.
What about a coin, or Bitcoin protocol variation that looks at the network and says, because of the current difficulty, I'm only going to give you a 0.0001% chance of generating a Block.
That way, no matter how powerful your mining equipment, you have the same odds as someone CPU mining at home.
All a bigger miner would have to do is run mutliple instances of their software and poof, the supposed equality is gone.
mmmm, so how do we create a coin that the asic manufacturers can't muscle in on the little guy at home mining a few coins. RandomCoin, a coin that simply generates coins at Random maybe.
What about a coin, or Bitcoin protocol variation that looks at the network and says, because of the current difficulty, I'm only going to give you a 0.0001% chance of generating a Block.
That way, no matter how powerful your mining equipment, you have the same odds as someone CPU mining at home.
What about a coin, or Bitcoin protocol variation that looks at the network and says, because of the current difficulty, I'm only going to give you a 0.0001% chance of generating a Block.
That way, no matter how powerful your mining equipment, you have the same odds as someone CPU mining at home.
Other coins have concepts similar to this but they haven't been accepted anywhere near as widely as BTC. Also this is a transient phase. Sooner or later the growth will pull back and then when there is uncertainty the hardware vendors may go back to selling instead of mining.
mmmm, so how do we create a coin that the asic manufacturers can't muscle in on the little guy at home mining a few coins. RandomCoin, a coin that simply generates coins at Random maybe.
What about a coin, or Bitcoin protocol variation that looks at the network and says, because of the current difficulty, I'm only going to give you a 0.0001% chance of generating a Block.
That way, no matter how powerful your mining equipment, you have the same odds as someone CPU mining at home.
What about a coin, or Bitcoin protocol variation that looks at the network and says, because of the current difficulty, I'm only going to give you a 0.0001% chance of generating a Block.
That way, no matter how powerful your mining equipment, you have the same odds as someone CPU mining at home.
Fiat price of BTC is irrelevant to mining other than determining when to stop mining. If you bought the coins you could take advantage of a price spike BTW instead of holding hardware.
There is a collision in you first sentence: why would you consider fiat/BTC value only to determinate when stop mining
If you say this you must admit that if the exchange will spike, old hardware will turn online. Are you thinking that if one day BTC will be @ 10K, old miners will not come back only cause they had never ROI in BTC I made a mistake too implying only fiat invested in mining. For me is too obvious that the risk spending fiat is much much lower than spending BTC, but maybe I wrong.
However spend BTC in mining is the simplest way to see that mining is a marginal o negative investment. Best investment in BTC is buy & hodl, if you want to help the network is spent fiat in mining (one day there maybe will be the need of people that don't watch only ROI )
There is no conflict in my statement - I just didn't detail out all the logical assumptions. You need to look at the fiat/BTC price to know when to stop mining - this makes the assumption you have a miner. Once you are committed with hardware you can only sell it or mine. At the point where it costs more electricity than it mines in fiat it's time to dispose of it - or at least sideline it until prices rise (price rarely rises faster than difficulty).
If you have not committed to buying a miner, the fiat price is irrelevant. The question then is will the device earn more coin than the initial outlay for the hardware?
Fiat price of BTC is irrelevant to mining other than determining when to stop mining. If you bought the coins you could take advantage of a price spike BTW instead of holding hardware.
There is a collision in you first sentence: why would you consider fiat/BTC value only to determinate when stop mining
If you say this you must admit that if the exchange will spike, old hardware will turn online. Are you thinking that if one day BTC will be @ 10K, old miners will not come back only cause they had never ROI in BTC I made a mistake too implying only fiat invested in mining. For me is too obvious that the risk spending fiat is much much lower than spending BTC, but maybe I wrong.
However spend BTC in mining is the simplest way to see that mining is a marginal o negative investment. Best investment in BTC is buy & hodl, if you want to help the network is spent fiat in mining (one day there maybe will be the need of people that don't watch only ROI )
Mining will ALWAYS be profitable ONLY when there will be huge spikes in prices.
However next times will be different, now there is an immense silent old hardware switched off ready to come back online when conditions are met.
Out of price skyrockets condition, mining will be only marginally profitable, or at loss in the short time, as it was at firsts blocks: only those who believe in BTC will survive on the long run whitout getting burned.
However next times will be different, now there is an immense silent old hardware switched off ready to come back online when conditions are met.
Out of price skyrockets condition, mining will be only marginally profitable, or at loss in the short time, as it was at firsts blocks: only those who believe in BTC will survive on the long run whitout getting burned.
Fiat price of BTC is irrelevant to mining other than determining when to stop mining. If you bought the coins you could take advantage of a price spike BTW instead of holding hardware.
Mining will ALWAYS be profitable ONLY when there will be huge spikes in prices.
However next times will be different, now there is an immense silent old hardware switched off ready to come back online when conditions are met.
Out of price skyrockets condition, mining will be only marginally profitable, or at loss in the short time, as it was at firsts blocks: only those who believe in BTC will survive on the long run whitout getting burned.
However next times will be different, now there is an immense silent old hardware switched off ready to come back online when conditions are met.
Out of price skyrockets condition, mining will be only marginally profitable, or at loss in the short time, as it was at firsts blocks: only those who believe in BTC will survive on the long run whitout getting burned.
Anyone with a calculator and basic math skills know that mining is not profitable. Here are some reasons why:
1. It is rational to solo mine if you are risk seeking. A slight chance of making 25 BTC is worthwhile if you have an appetite for risk.
2. Manufacturers don't give away hardware. If for some time there is low demand, the manufacturers will rather mine in-house.
3. There are enough clueless mining enthusiasts to make a bubble. The pricing at CEX.io is a clear example of this.
4. Heat is a desired by-product. Some will naturally be willing to mine at a loss if the value of the heat is greater is than the loss.
5. Some don't pay for electricity.
6. Mining is fun. Some waste their money on booze and/or hookers. Others on mining hardware.
Other reasons?
1. It is rational to solo mine if you are risk seeking. A slight chance of making 25 BTC is worthwhile if you have an appetite for risk.
2. Manufacturers don't give away hardware. If for some time there is low demand, the manufacturers will rather mine in-house.
3. There are enough clueless mining enthusiasts to make a bubble. The pricing at CEX.io is a clear example of this.
4. Heat is a desired by-product. Some will naturally be willing to mine at a loss if the value of the heat is greater is than the loss.
5. Some don't pay for electricity.
6. Mining is fun. Some waste their money on booze and/or hookers. Others on mining hardware.
Other reasons?
Jump to: