So will 2015 be the year that home mining ends?

toptekk

member

Activity: 112

Merit: 10

Quote from: hdmediaservices on January 11, 2015, 10:14:23 PM

Wow - so I guess I feel a little depressed.

1. No new Scrypt mining hardware.

2. Everything went to the Ponzi-Mining -- which is starting to collapse for many.

3. Most alt coins are becoming less profitable to mine.

I don't really see any of these alt coins becoming mainstream. Does anyone? So much for LTC being BTC's silver? LOL

I mean each one says it does this or that or supports something new and exciting - but no one is really using them for anything but trading to BTC in the end.

Any new ideas / technologies to come? Or is this going to be the end year of home mining (no matter how you do it -- CPU / GPU / ASIC).

I have been interested in the hard drive BURST mining. It is something different at least, but I guess that could easily be taken over by huge cloud drives as well.

At the end of year if all goes well with these guys there will be Scrypt miners that do it all for Scrypt they said they won't mass produce that ruins things .

http://cleverhash.com/ these bad boys will do it all including cloud mining . no sha256 that i see.

I know this beating a dead horse but I'm still hoping for the hasha stuff, if it does ship i plan to order one of the 2 th sha256 things , I'm keeping a very close eye on it and hopping to see good things . at this point why not i got my refund so I'll wait now and see.

toptekk

member

Activity: 112

Merit: 10

Quote from: hdmediaservices on January 28, 2015, 07:01:14 PM

Quote from: FreeJack2k on January 28, 2015, 06:56:20 PM

I don't really understand why anyone mines at a loss, rather than just turning off their systems, taking the money they'd have spent on power and buying coin with it, instead.

I think you have two main sets of people:

1. Those that look at crypto-currency as a hobby. Any money made is icing on the cake. Any money lost is just the cost of the hobby.

2. Those trying to make money off of it.

hobby for me i enjoy it a lot + that extra change i may or may not make is good, if your in it for the money then be ready to make or revert a room in you house to fit 20 + machine at least, power won't matter at that point .if your home mining .

I know a few in Canada who tell me they do nicely with there home mining they just hate it when they have up grade and sell off the old stuff.

I would not go as far as to say its dead just be ready for the long run and be ready to shell out some cash to hit that sweet spot .

I got email that said Bitcoin Trading Volume Increased from $15 Billion to $23 Billion Last Year, so some one besides the big guys are also making that .

it's there just depends what your willing to do . It's work and work means work.

.

nachoig

sr. member

Activity: 252

Merit: 250

Quote from: MaxDZ8 on February 03, 2015, 10:30:58 AM

Quote from: nachoig on February 03, 2015, 02:03:35 AM

Lyra2RE, which is use in Vertcoin after switching from Scrypt-N (in my opinion, switching the hashing algorithm is a bad idea unless there is some serious flaw). From the zero, Lyrabar. We also have NeoScrypt.

"We" ... who?

Oh sorry, not me. Tongue

Anyway: https://www.coingecko.com/en?hashing_algorithm=NeoScrypt

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: carlosiness on February 03, 2015, 11:12:34 AM

i believe, bitcoin mining has been ended, at the moment other curriencies are being mined.

only fro small farm, big farm will milk the shit out of bitcoin, there is no ending there

mining for alt is also at the end, it's running only for cheap electricity guys

carlosiness

hero member

Activity: 672

Merit: 500

i believe, bitcoin mining has been ended, at the moment other curriencies are being mined.

MaxDZ8

hero member

Activity: 672

Merit: 500

Quote from: nachoig on February 03, 2015, 02:03:35 AM

Lyra2RE, which is use in Vertcoin after switching from Scrypt-N (in my opinion, switching the hashing algorithm is a bad idea unless there is some serious flaw). From the zero, Lyrabar. We also have NeoScrypt.

"We" ... who?

picolo

hero member

Activity: 1022

Merit: 500

Quote from: ?? on ??

Quote from: grendel25 on January 31, 2015, 09:39:51 PM

I really think that lower power GPUs are a huge potential. I wouldn't be surprised to see performance double and power costs half which would turn GPU farms back on again.

It's not really about lower power consumption - it's about getting more hash with what you've got.

I think it is about having very new and cheap equipement, low maintenance costs, use cheap capital (no or low interest rates) then it is about keeping all or most the bitcoins you make.

nachoig

sr. member

Activity: 252

Merit: 250

Quote from: chrysophylax on January 29, 2015, 08:22:10 AM

Quote from: Ume on January 29, 2015, 08:18:57 AM

Yeah i heard that too that this will be the last year for mining but i got some questions in my tiny brain that if there not bitcoins available for mining then !1: price increase or 2: decrease :?

what user equate was trying to allude to earlier is simply this ...

if all mining was turned off ( and yes PoS 'staking' which a form of mining ) - if ALL mining was turned off - then it wouldnt be a matter of price - it would be a matter of survival ...

that is - mining = alive coins / alive blockchain ... NO mining = dead blockchain - and coins ...

simple ...

#crysx

PoS doesn't fix the problems with mining. Yeah, it's a form of reducing the costs and it fixes the problems with wasting of energy, but this comes with hoarding.

Quote from: hdmediaservices on January 11, 2015, 10:14:23 PM

3. Most alt coins are becoming less profitable to mine.

Because devs aren't creating altcoins to innovate, but just to get rich quick.

Quote from: hdmediaservices on January 11, 2015, 10:14:23 PM

Any new ideas / technologies to come? Or is this going to be the end year of home mining (no matter how you do it -- CPU / GPU / ASIC).

Lyra2RE, which is use in Vertcoin after switching from Scrypt-N (in my opinion, switching the hashing algorithm is a bad idea unless there is some serious flaw). From the zero, Lyrabar. We also have NeoScrypt.

Quote from: hdmediaservices on January 11, 2015, 10:14:23 PM

I have been interested in the hard drive BURST mining. It is something different at least, but I guess that could easily be taken over by huge cloud drives as well.

Yes, it's an interesting concept. But I think their idea is not about home or industrial mining, but about sustentable mining.

Prelude

legendary

Activity: 1596

Merit: 1000

Quote from: grendel25 on January 31, 2015, 09:39:51 PM

I really think that lower power GPUs are a huge potential. I wouldn't be surprised to see performance double and power costs half which would turn GPU farms back on again.

Errr... If that happens, you'd be in the same boat. Everyone's hash rate doubles, power consumption halved.. Few difficulty adjustments later and voila, barely off your knees and back down you go.

Face it, GPUs are done. They will never make a comeback, too many idiots willing to clear store shelves in the event of a bump in price thinking they'll become rich plugging risers.

chrysophylax

legendary

Activity: 2912

Merit: 1091

--- ChainWorks Industries ---

Quote from: bensam123 on February 02, 2015, 02:47:31 PM

Especially when people are selling private kernels with much higher hashrates you don't have access to.

EVERYONE has the oportunity to access to the kernels and optimized miners ... its just for a fee ...

if evryone actually DONATED to the devs - we ALL would have massive mining hashrates ...

ive seen this written so many times - and not ONE of the people that write these things down seem to understand the simplest of things ... and that is - the developer is writing his OWN CODE ...

which means he / she can do what the hell they want with it ...

im not a dev - but i have a great deal of respect for them ... unlike most of this forsaken 'crypto community' it seems ...

#crysx

bensam123

sr. member

Activity: 423

Merit: 250

Especially when people are selling private kernels with much higher hashrates you don't have access to.

Equate

hero member

Activity: 770

Merit: 500

Quote from: grendel25 on January 31, 2015, 09:39:51 PM

I really think that lower power GPUs are a huge potential. I wouldn't be surprised to see performance double and power costs half which would turn GPU farms back on again.

GPU mining is not sustainable unless market correction occurs and altcoin price rise gains momentum.

MaxDZ8

hero member

Activity: 672

Merit: 500

Quote from: grendel25 on January 31, 2015, 09:39:51 PM

I really think that lower power GPUs are a huge potential. I wouldn't be surprised to see performance double and power costs half which would turn GPU farms back on again.

And be immediately pushed out by themselves.
You cannot have an advantage by using the hardware everyone else is using.

chrysophylax

legendary

Activity: 2912

Merit: 1091

--- ChainWorks Industries ---

Quote from: grendel25 on January 31, 2015, 09:39:51 PM

I really think that lower power GPUs are a huge potential. I wouldn't be surprised to see performance double and power costs half which would turn GPU farms back on again.

hence the optimization in ccminer for nvidia cards ... Wink

#crysx

grendel25

legendary

Activity: 2296

Merit: 1031

I really think that lower power GPUs are a huge potential. I wouldn't be surprised to see performance double and power costs half which would turn GPU farms back on again.

chrysophylax

legendary

Activity: 2912

Merit: 1091

--- ChainWorks Industries ---

Quote from: FreeJack2k on January 29, 2015, 01:11:10 PM

Yeah I mean, I'm not even talking about fiat profit here. People talk about mining because they believe in the coins - but if the difficulty is such that you only earn enough to pay power, or you don't even earn enough to pay for your power, then doesn't it make more sense to spend the money you WOULD have used on power, to buy coins? As it is, you're either donating processing power to the network, or you're paying to help process transactions. I guess I could see how someone might do it as a "hobby" for grins, but otherwise it just makes no sense, if you're looking to accumulate coins.

what you say makes sense ...

i think its a personal thing - and the way i see it is that im making 'profit' which ever way i go ...

it does cost fiat - and time - and effort ... so unless its value ( and i mean personal value ) is equal to all that - then it wont be worth it for most ...

i do this becuase i see things very differently from most - and thats why im in the postion i am ...

but your point is quite valid if the 'breakeven' level is never reached ...

in that case you are doing it for the sake of doing it and nothing more ...

#crysx

FreeJack2k

full member

Activity: 205

Merit: 100

Yeah I mean, I'm not even talking about fiat profit here. People talk about mining because they believe in the coins - but if the difficulty is such that you only earn enough to pay power, or you don't even earn enough to pay for your power, then doesn't it make more sense to spend the money you WOULD have used on power, to buy coins? As it is, you're either donating processing power to the network, or you're paying to help process transactions. I guess I could see how someone might do it as a "hobby" for grins, but otherwise it just makes no sense, if you're looking to accumulate coins.

chrysophylax

legendary

Activity: 2912

Merit: 1091

--- ChainWorks Industries ---

Quote from: Ume on January 29, 2015, 08:18:57 AM

Yeah i heard that too that this will be the last year for mining but i got some questions in my tiny brain that if there not bitcoins available for mining then !1: price increase or 2: decrease :?

what user equate was trying to allude to earlier is simply this ...

if all mining was turned off ( and yes PoS 'staking' which a form of mining ) - if ALL mining was turned off - then it wouldnt be a matter of price - it would be a matter of survival ...

that is - mining = alive coins / alive blockchain ... NO mining = dead blockchain - and coins ...

simple ...

#crysx

Ume

full member

Activity: 210

Merit: 100

Finding oNlinE JoB ---=== :)

Yeah i heard that too that this will be the last year for mining but i got some questions in my tiny brain that if there not bitcoins available for mining then !1: price increase or 2: decrease :?

chrysophylax

legendary

Activity: 2912

Merit: 1091

--- ChainWorks Industries ---

Quote from: Bananana on January 29, 2015, 07:55:54 AM

Quote from: Equate on January 29, 2015, 07:27:04 AM

Quote from: FreeJack2k on January 28, 2015, 06:56:20 PM

I don't really understand why anyone mines at a loss, rather than just turning off their systems, taking the money they'd have spent on power and buying coin with it, instead.

If everyone will switch off their mining rigs , do you know what will happen to the coins that you buy from exchanges ? Ever heard of network security.

Well, most alt-coin adjust the difficulty in 1-2 block, so I dont think everyone will switch off at the same time. Just need enough miner switch off and its profitable again. Mining at a loss is not a good idea.

o i see ... like trading at a loss? ...

all of the fiat exchanges of the world have people that trade at losses - work for losses and deficits ...

its life - thats all this is ... you suffer the hard times and 'sacrifice' fiat for other things ... for us hardcore miners - those 'other things' are coins ...

whether they go up in fiat price or not - is of no consequence to me ... so its not a loss at all - but a GAIN ... a gain in cryptocurrency that i can use to buy more miners - more parts - more equipment and even pay certain bills with ...

loss? ... not at all ...

you are still comparing it with fiat as fiat being the foundation and all things compared to it ... if that is the ONLY way one looks at it - then almost everything we do is a 'loss' ...

i mine - it costs some fiat ... i gain cryptocurrency - which allows me to do buy and trade ... so ask yourself these simple questions - where is the loss? where is the gain? what is important to ME? ...

what you call a loss - i call a gain ...

#crysx

Topic: So will 2015 be the year that home mining ends? (Read 5304 times)