Topic: THE TRUTH (Read 1454 times)
Mining is not as easy as it use to be when one consider the cost of available electricity except you are using your own built renewable energy, then cost can be saved on electricity. My partner and myself have for now abandon our mining rig because of huge cost of electricity and internet connection.
Everywhere I am seeing fellow miners discouraging other from jumping into the mining business. All over this forum and reddit, you guys are being selfish because you don't want the difficult to keep rising.
The truth is mining crypto has been the easiest money for me, I am never going back to working a normal job when I can just do this all from my house.
I'm still pulling in NICE profits, people are just spreading fud about the ROI times and saying gpu mining is dead.
The truth is mining crypto has been the easiest money for me, I am never going back to working a normal job when I can just do this all from my house.
I'm still pulling in NICE profits, people are just spreading fud about the ROI times and saying gpu mining is dead.
Yes you got them right there, there are fuds and lots of discouragement by miners
To ensure that there are further decrement in the number of available miners
It’s more like trading too; where fud are spread so that a token can be bought cheap
Just that here; it reduced number of miners
When you can mining with cheap electricity fee, you will make a profit in daily, but not all people can get the same fee as you. So they say that mining with GPU is hard to get a profit and finally, they are shut down the machine. That happens too with my friend in the other country because he cannot cover the electricity fee, so he decided to end the mining.
You made a point about the cheap electricity been an advantage to make profit in mining cause high cost electricity will generate expenses. The kind of hardware used helps. 
When you can mining with cheap electricity fee, you will make a profit in daily, but not all people can get the same fee as you. So they say that mining with GPU is hard to get a profit and finally, they are shut down the machine. That happens too with my friend in the other country because he cannot cover the electricity fee, so he decided to end the mining.
You must have a lot of hashrate power to able get profit. cheap electricity just give us more opportunity to earn more profit. When we get expensive electricity and a high difficulty and the result will be we got a lost. hero member
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When you can mining with cheap electricity fee, you will make a profit in daily, but not all people can get the same fee as you. So they say that mining with GPU is hard to get a profit and finally, they are shut down the machine. That happens too with my friend in the other country because he cannot cover the electricity fee, so he decided to end the mining.
some people think the world resumes to their own head...
How many huge mines are located in Europe? in US? in places where energy costs are high?? Are the large mining facilities in Europe loosing money?? NO, they have renewable energy!!
And besides, if you have a decent mining strategy, even paying for high electricity costs, you can easily make money... maybe not so much as before, but nice money, even compared with the high US and European standards... Just have to do a lot of research and think it smart... (I know a few of those examples)
How many huge mines are located in Europe? in US? in places where energy costs are high?? Are the large mining facilities in Europe loosing money?? NO, they have renewable energy!!
And besides, if you have a decent mining strategy, even paying for high electricity costs, you can easily make money... maybe not so much as before, but nice money, even compared with the high US and European standards... Just have to do a lot of research and think it smart... (I know a few of those examples)
Have you ever heard about mafia in europe and other countries? That is your answer.
There is so much corruption, they are making backroom deals with the government and getting extremely cheap power and other incentives. The big boys are using so much power they can call the shots and your average hobby miner will never compete with them.
some people think the world resumes to their own head...
How many huge mines are located in Europe? in US? in places where energy costs are high?? Are the large mining facilities in Europe loosing money?? NO, they have renewable energy!!
And besides, if you have a decent mining strategy, even paying for high electricity costs, you can easily make money... maybe not so much as before, but nice money, even compared with the high US and European standards... Just have to do a lot of research and think it smart... (I know a few of those examples)
How many huge mines are located in Europe? in US? in places where energy costs are high?? Are the large mining facilities in Europe loosing money?? NO, they have renewable energy!!
And besides, if you have a decent mining strategy, even paying for high electricity costs, you can easily make money... maybe not so much as before, but nice money, even compared with the high US and European standards... Just have to do a lot of research and think it smart... (I know a few of those examples)
Have you ever heard about mafia in europe and other countries? That is your answer.
There is so much corruption, they are making backroom deals with the government and getting extremely cheap power and other incentives. The big boys are using so much power they can call the shots and your average hobby miner will never compete with them.
Studying the possibilities of mining, I was faced with large starting costs. Having not the most expensive KW/h, profit is possible in many months(mb year+), if conditions do not change. I understand those who do not want new miners in the net.
This is an business for those who are already in mining. By switching between coins and algorithms, they can make a profit. Starting ... unlikely.
This is an business for those who are already in mining. By switching between coins and algorithms, they can make a profit. Starting ... unlikely.
Nobody spread lies. Each has its own right. In my country now, with the price of electricity, mining is not profitable. Many equipment for mining is sold on special sites for sale. Maybe you have cheap electric power or you get it for free. so you and profitable mining. Maybe you'll mine some kind of new cryptos about which even few people know mine is still profitable
some people think the world resumes to their own head...
How many huge mines are located in Europe? in US? in places where energy costs are high?? Are the large mining facilities in Europe loosing money?? NO, they have renewable energy!!
And besides, if you have a decent mining strategy, even paying for high electricity costs, you can easily make money... maybe not so much as before, but nice money, even compared with the high US and European standards... Just have to do a lot of research and think it smart... (I know a few of those examples)
How many huge mines are located in Europe? in US? in places where energy costs are high?? Are the large mining facilities in Europe loosing money?? NO, they have renewable energy!!
And besides, if you have a decent mining strategy, even paying for high electricity costs, you can easily make money... maybe not so much as before, but nice money, even compared with the high US and European standards... Just have to do a lot of research and think it smart... (I know a few of those examples)
Have you ever heard about mafia in europe and other countries? That is your answer.
You probably live in Venezuela, there average joe/person earns $5 per month, mining there with their electricity cost paired with their worthless currency will give more than $5 per month, now if you live in places where you earn more than $1000 per month and then you come here and say mining is worth more than working in any regular job then that means you are an idiot.
So to suffice, mining is only good in places where electricity is rarely charged by the government or let aside by getting votes or support aka what is happening is Venezuela or your regular job wage is pitiful to a point coming here and say mining is worth. If is worth to you then probably many things contribute to be worth to you and I'm sure 99.9999% people in the world are not in the same situation as you.
The only downside to you is the hardware cost I take, is a huge investment and even now is hard you are getting any from it but your ego is huge to come here and say out loud, "hey, I do make a lot of money mining and these trolls are all deceiving you", profitability graphs since 2009 are there for a reason, check it and you will see mining is at lowest ever and that means, nobody is an idiot to buy hardware in an uncertain market.
So to suffice, mining is only good in places where electricity is rarely charged by the government or let aside by getting votes or support aka what is happening is Venezuela or your regular job wage is pitiful to a point coming here and say mining is worth. If is worth to you then probably many things contribute to be worth to you and I'm sure 99.9999% people in the world are not in the same situation as you.
The only downside to you is the hardware cost I take, is a huge investment and even now is hard you are getting any from it but your ego is huge to come here and say out loud, "hey, I do make a lot of money mining and these trolls are all deceiving you", profitability graphs since 2009 are there for a reason, check it and you will see mining is at lowest ever and that means, nobody is an idiot to buy hardware in an uncertain market.
some people think the world resumes to their own head...
How many huge mines are located in Europe? in US? in places where energy costs are high?? Are the large mining facilities in Europe loosing money?? NO, they have renewable energy!!
And besides, if you have a decent mining strategy, even paying for high electricity costs, you can easily make money... maybe not so much as before, but nice money, even compared with the high US and European standards... Just have to do a lot of research and think it smart... (I know a few of those examples)
The ETH difficulty is starting to rise quickly and the daily profitability is lower this week than last month, reason being that people are assuming ETH will hit at least $200 and its profitable to mine. And as a result the difficulty is going up and profitability is bad for most people as before.
This thing happens very fast, if eth hits 200 usd then 400 then 800 usd will be way faster and in a matter of weeks.
Wonder why the OP made a topic over a month ago and hasn't replied since.
I keep checking this thread from time to time to find out what country he is from where he is making enough money to quit work and live off the mining profits while most people around the world keep their rigs powered off.
The ETH difficulty is starting to rise quickly and the daily profitability is lower this week than last month, reason being that people are assuming ETH will hit at least $200 and its profitable to mine. And as a result the difficulty is going up and profitability is bad for most people as before.
I keep checking this thread from time to time to find out what country he is from where he is making enough money to quit work and live off the mining profits while most people around the world keep their rigs powered off.
The ETH difficulty is starting to rise quickly and the daily profitability is lower this week than last month, reason being that people are assuming ETH will hit at least $200 and its profitable to mine. And as a result the difficulty is going up and profitability is bad for most people as before.
Yeah, even the thread starter did not even care to share any relevant information to a profitable mining strategy and consequently support his claim. I guess most are becoming greedy and insecure than before and the fact that I am not a fan of mining, I can sense this competition thing getting nasty at times that I hope the crypto community would be united in helping one another in any way they can.
They want to keep the competetion low. Mining was never difficult and never will be.
Wonder why the OP made a topic over a month ago and hasn't replied since.
I keep checking this thread from time to time to find out what country he is from where he is making enough money to quit work and live off the mining profits while most people around the world keep their rigs powered off.
The ETH difficulty is starting to rise quickly and the daily profitability is lower this week than last month, reason being that people are assuming ETH will hit at least $200 and its profitable to mine. And as a result the difficulty is going up and profitability is bad for most people as before.
I keep checking this thread from time to time to find out what country he is from where he is making enough money to quit work and live off the mining profits while most people around the world keep their rigs powered off.
The ETH difficulty is starting to rise quickly and the daily profitability is lower this week than last month, reason being that people are assuming ETH will hit at least $200 and its profitable to mine. And as a result the difficulty is going up and profitability is bad for most people as before.
I think only a few people think that crypto mining is dead, but I don't think so, maybe the results obtained are indeed slightly reduced, but crypto mining can still be profitable, maybe those who think mining crypto is dead don't know how to overcome difficulties if there is a situation like this now.
Mining is still profitable (under certain conditions)and it seem things will get a lot better soon.I suppose your current drive could be that you pay very little on electricity and you can easily source for cheap hardwares. A lot of miners sold off their hardwares cheaply,that seem to have stopped now and prices are beginning to rise once more.Mining is cool if you are in the environment and were able to get hardwares cheap
I guess both sides of the pro and anti mining have valid opinions that are based on factual data and that is great but I seldom see threads with dedicated mission to share their most current profitable mining operation including all the equipment used and what coin they mine because I think most people are insecure with other people becoming their competitor in the mining niche.
This is because it takes time to reprogram the FPGA for each algo.
For this reason, I caution miners who are investing heavily into FPGAs; the next generation of Cryptocurrencies will all likely be FPGA resistant.
For this reason, I caution miners who are investing heavily into FPGAs; the next generation of Cryptocurrencies will all likely be FPGA resistant.
This is why monero profitability is so far behind other coins, too many fpgas in it.
The profit indicators of the mining is constantly changing. The prices are changing, the difficulty of mining is changing and depending on price of the electricity it should be profitable, especially long term if the prices increase.
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