State of mining - page 3. | Bitcointalksearch.org

maokoto

hero member

Activity: 770

Merit: 500

✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪

Quote from: eternalgloom on November 08, 2015, 08:51:24 AM

For me personally it would still be viable to buy my own mining equipment and make a profit, especially with the current prices of Bitcoin.
But this is mostly because everything in my house runs on solar and I wouldn't have to pay for electricity.

Plus I rented a miner a few days ago on Betarigs and made a small profit, so that in itself shows me that it can still be profitable for the little guy

What a good situation!

I have heard of some that put mining farms near waterfalls that generate the electricity.

mayax

legendary

Activity: 1456

Merit: 1004

You cannot cover the expenses if you do that alone. You will not cover the mining equip. and the electricity bill.

Only the chinesses can do that because they can make tricks to get the electricity for free or near to that

Kprawn

legendary

Activity: 1904

Merit: 1073

Quote from: Xialla on November 08, 2015, 09:18:53 AM

Quote from: eternalgloom on November 08, 2015, 08:58:10 AM

Quote from: Xialla on November 08, 2015, 08:54:15 AM

based on my observations, it seems that only somehow profitable way (over buying bitcoin directly) is to run some Chinese mining farm next to energy grid with direct contact to ASIC manufacturers.

home mining is definitely dead for majority of world because of electricity expenses. USB gadgets are fine to play with cgminer and linux, but they will not even ROI..

You're forgetting about people who have solor power, here in Belgium it's quite common for a middle class household to have solar panels due to huge tax benefits in the past.

and those solar panels in Belgium are available for free? Solar energy is not for free, it is stupid illusion. You have to pay for panels, mounting, cables, inventor..ahh and return of investment is about 20 years, even with European union support to clean energy and various grants to photovoltaic.

It might not be 100% free, but it's better than the alternative ...mining with electricity that are generated from fossil fuel or nuclear power. Wink

You also have a bit of a edge over the people who has to pay for their electricity now, and the profits made from this, help to pay part of the utility bill and infrastructure you

invested in. Grin

newbitcoins

member

Activity: 72

Merit: 10

Quote from: unamis76 on November 08, 2015, 08:50:57 AM

The requirements for mining are always rising and will rise as long as the difficulty keeps climbing... So yeah, if you want to stay competitive you must have ASIC's and quite a few of them.

A Chinese mining farm would help, but you can profit with much less if you have cheap electricity Cheesy

If you want to home mine, you need very cheap electricity. That is the most important of all. You also need a efficient miner. The bitmain s7 is the most efficient one, but it is expensive.

ANdr0id

full member

Activity: 196

Merit: 100

Reading about someone who gets electricity for free or near to nothing. Can't remember which country he was in, think it was somewhere in South America. Argentina maybe. Can anyone verify this from practical experience.

Xialla

legendary

Activity: 1036

Merit: 1000

/dev/null

Quote from: eternalgloom on November 08, 2015, 08:58:10 AM

Quote from: Xialla on November 08, 2015, 08:54:15 AM

based on my observations, it seems that only somehow profitable way (over buying bitcoin directly) is to run some Chinese mining farm next to energy grid with direct contact to ASIC manufacturers.

home mining is definitely dead for majority of world because of electricity expenses. USB gadgets are fine to play with cgminer and linux, but they will not even ROI..

You're forgetting about people who have solor power, here in Belgium it's quite common for a middle class household to have solar panels due to huge tax benefits in the past.

and those solar panels in Belgium are available for free? Solar energy is not for free, it is stupid illusion. You have to pay for panels, mounting, cables, inventor..ahh and return of investment is about 20 years, even with European union support to clean energy and various grants to photovoltaic.

eternalgloom

legendary

Activity: 1792

Merit: 1283

Quote from: Xialla on November 08, 2015, 08:54:15 AM

based on my observations, it seems that only somehow profitable way (over buying bitcoin directly) is to run some Chinese mining farm next to energy grid with direct contact to ASIC manufacturers.

home mining is definitely dead for majority of world because of electricity expenses. USB gadgets are fine to play with cgminer and linux, but they will not even ROI..

You're forgetting about people who have solor power, here in Belgium it's quite common for a middle class household to have solar panels due to huge tax benefits in the past.

Xialla

legendary

Activity: 1036

Merit: 1000

/dev/null

based on my observations, it seems that only somehow profitable way (over buying bitcoin directly) is to run some Chinese mining farm next to energy grid with direct contact to ASIC manufacturers.

home mining is definitely dead for majority of world because of electricity expenses. USB gadgets are fine to play with cgminer and linux, but they will not even ROI..

eternalgloom

legendary

Activity: 1792

Merit: 1283

For me personally it would still be viable to buy my own mining equipment and make a profit, especially with the current prices of Bitcoin.
But this is mostly because everything in my house runs on solar and I wouldn't have to pay for electricity.

Plus I rented a miner a few days ago on Betarigs and made a small profit, so that in itself shows me that it can still be profitable for the little guy

unamis76

legendary

Activity: 1512

Merit: 1009

The requirements for mining are always rising and will rise as long as the difficulty keeps climbing... So yeah, if you want to stay competitive you must have ASIC's and quite a few of them.

A Chinese mining farm would help, but you can profit with much less if you have cheap electricity Cheesy

gambit1

hero member

Activity: 980

Merit: 508

I'm posting this here rather than in mining because its really a meta-mining question.

Just wondering what the state of mining is. I remember when anyone could do it and then I remember when you had to buy dedicated mining equipment (ASICS). I lost interest in the subject just as it was becoming non-viable for the common man, though people were still buying block eruptors and apparently doing ok with them.

Where are we now? In order to mine sucessfully do you have to be Rick from Rick and Morty with access to quantum defrackulators and or a Chinese mining farm?

Topic: State of mining - page 3. (Read 3739 times)