Topic: So will 2015 be the year that home mining ends? - page 2. (Read 5304 times)

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.

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.

not a loss - at a cost ... it will always cost - even if your electricity is free ...

everything costs - from the costs of the miners to the cost of setup to the cost of storage for farms and operational costs ...

some run at a 'loss' as you say - but you are still comparing to fiat - and not to the coin itself ...

bitcoin was created as an ALTERNATE payment system ( amongst other things ) to move away from fiat altogether ...

instead - most people trade it over FOR fiat - and not use it as a payment system - whether it be lack of suppliers accepting btc or not ...

others accept btc ( and alternate currencies ) for just what they are - currencies ... we USE the coins as a payment form ...

so there is no 'loss' ... not to me anyway ...

i was taught this from the use of the 'bartering system' years ago when i was much younger ...

#crysx

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.

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.

well - im still going amph ... and it still costs me ...

there is a simple reason for this - i still believe that the coins that are mined will be of use in the near future ... if not near - at least the future ahead ...

its not merely a profiteering plan - but an actual investment into what i believe is a future in transactional situations ...

otherwise - NONE of the governing bodies would even take a second look at these things ...

in any case - mining will be maintained one way or another - and i do agree that eventually - only the 'big' players with deep pockets will be able to afford to keep it all going due to the rising costs of electricity ...

and the freebies - as you suggested ...

#crysx

mining end in 2014, long time ago, just big farm or free power people are mining, those guys can keep mining forever, do not expect them to drop the ball

i think year 2015 will be the year of bitcoin and cryptocurrencies,big institution investors will enter crypto  mining and investing

No chance.  New coins will keep coming and home chopping will continue. 

If your electricity is low, it is profitable to mine bitcoins. Some people don't even pay for their electricity or pay a fixed amount per month.

i think that was meant to be asic ...



#crysx

ASCII mining ? , now that's something new.

GPU or CPU mining for certain coin is still profitable is your electricity price is low. ASCII mining is usually not because large farms are situated in low electricity area.

It's only a gap. There are coins CPU only or CPU/GPU. Most based on M7.
Smarter guys will come out with smarter ideas. Just give them time.
We got used with too many new coins/algos/ideas in short time..



PS: LOL@mango!!

it could be true for sha256 mining, well there are still other sha256 coin to mine, but not certainly for altscene

agreed ...

mining is always going to be here - large or small - PoW or PoS ...

nothing is a ever healthy monopolistic position unless it TOTALLY benefits the community it is monopolizing ... and none ( so far in history to my knowledge ) has done so FOR the community ...

so yes - it is quite contrary to de-centralization in its essence ...

#crysx

oh - i state things VERY clearly - hence what i wrote ...

it is not an argument on my part - you make of it what you will ...

im simply stating that without miners of some sort ( whether its cpu gpu or wallet - amongst other forms of mining ) the blockchain stops ...

what did you think i was saying? implications are null here ...

since we are on the slinging topic - costs grow sub-linearly? ... mate - i dont know where you get your facts from - but sub-linearly makes no sense ...

its a simple fact of demand and supply - simple economics ...

if the demand is there - costs rise exponentially ...

if we are talking production here ... costs rise exponentially then fall accordingly - whether due to lack of demand OR high volume production ...

thats in the real world ... the crypto world works in a way we have never seen before ... only due to the fact that there has never been a crypto world before ...

assumptions and forecasts in this arena is moot ... we have really nothing to base them on but real world expectations ...

and those sort of expectations dont carry the weight in crypto that they do in real world economics ...

simply put - what you have stated is merely opinion - yours ... proof is when the 'system' itself has had longevity and a history long enough to fathom real data ...

whats crypto been around for? ... a few years at best ... no - make that only possibly two years at best - if you dont count the existence of btc 5 years ago ...

seriously - who arguing your point? ... im not! ... opinions and speculation dont make for good bedfellows when facts are involved ...

especially in the crypto world at the moment ...

this is the reason why so many are 'falling' due to 'falling' btc costs and 'rising' expenses ... trying to mesh real world and crypto world is a tricky thing ...

and those that do - do it at a their own risk - albeit - a hig one at that ...

btw - 'i am not open to discussion'? ...

hehehe ... i have NEVER been open to discussion ... EVER!

my opinions however ...

#crysx

It is contrary to the definition of de-centralization and with the monopoly on mining , these same companies switched off their operations as we had seen recently despite making big promises to their customers.

Maybe we have a problem with English, but it seems to me those who have "farms" are not "home mining".
If your friends (including yourself) are having a farm at home then either you are industrial or you're doing things wrong.
Oh please. It is a well known problem since the first pool was created! Everyone and the dog knows costs grow sub-linearly. If you're subtly implying I'm writing bullshit, I'm going to just state my opinion clearly: I think you are not open to discussion. At least have the balls to state what you think clearly.