Topic: THE TRUTH - page 2. (Read 1442 times)
Aspiring cryptominers should also know that as cryptocurrencies have risen in both popularity and value, competition has increased substantially as well and now includes organizations and enterprises with more extensive resources than most individuals can compete with.
If you are able to provide cheap electricity then the mining is still profitable.
I have solar panels installed on my roof.
I have solar panels installed on my roof.
You must to have a very very very big house with a very very very big solar panel covered roof surface
if you are using that electricity for mining what your roof installed solar panels are generating 
If you are able to provide cheap electricity then the mining is still profitable.
I have solar panels installed on my roof.
I have solar panels installed on my roof.
Mining is still profitable otherwise people wouldn't be doing it. The profit margins have fallen for those that live in countries like the UK where energy costs are continuously rising.
Thats not entirely true, some criminals are fine with mining at a loss if they can generate clean money. Also governments that are mining are effectively doing it at zero cost so they are just converting fiat to system that actually takes effort to get.
But why? The whole economy is built on the creation of competitiveness. If they are satisfied with everything - then there is no sense for them to change the current situation.
Im on 13.5c/kw, my rigs are working all the time from 2017. They were switched off only one month in December 2018.
I'm operating only on Nvidia.
I'm operating only on Nvidia.
Mining is still profitable otherwise people wouldn't be doing it. The profit margins have fallen for those that live in countries like the UK where energy costs are continuously rising.
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.
Not Me
HERE IS MY TRUTH
I see mining as a business like you. No difference from any other works. i enjoy this work and i am doing it fondly
but the electricity usage fee began to annoy me every month hike is coming
but the electricity usage fee began to annoy me every month hike is coming
When there are a lot of competitors then everyone gets a really small piece of cake. No one wants to share the profit.
well.. I'd agree that this is true most of the time, but still would prefer not to generalize here.
The poor are not poor because they are born badly, but because they lack courage and determination. And can accept new things not much. For blockchains, mining, new things still need to be popularized.
That just isn't true. Some people are born with extreme conditions that are nearly impossible to get out of. You can't just have courage and determination and become wealthy, don't be an idiot.
that!
mobility class in Brazil takes 8 generations for example.
that means that the probability of your grandgrandchildren staying in the same class as you is quite high.
they take one example of a poor person that was succesfulland generalize like if everybody was able to do it, but forget to see the whole picture.
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.
Hahaahaha. Absolute nonsense. 'Easy money' - if your electric is free, your hardware costs are ignored, and your time researching algos/coins/exchanges is ignored, then you make a few quid, yes. Consider this - £600 in secondhand PC parts will make you a couple of dollars a day on ETH, but cost slightly more on .10c electric.
The poor are not poor because they are born badly, but because they lack courage and determination. And can accept new things not much. For blockchains, mining, new things still need to be popularized.
That just isn't true. Some people are born with extreme conditions that are nearly impossible to get out of. You can't just have courage and determination and become wealthy, don't be an idiot.
When there are a lot of competitors then everyone gets a really small piece of cake. No one wants to share the profit.
I think mining is profitable if your country has cheap electricity for other countries that has a expensive electricity its better not to mine or you will face big problems
The poor are not poor because they are born badly, but because they lack courage and determination. And can accept new things not much. For blockchains, mining, new things still need to be popularized.
Could you elaborate what kind of mining rig you have and the coin mine?
People are not spreading FUD about the mining loss, I really see it with my own eye. Unless you get cheap electricity then you maybe you still got a huge ROI.
People are not spreading FUD about the mining loss, I really see it with my own eye. Unless you get cheap electricity then you maybe you still got a huge ROI.
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.
I think miners need to be encouraged because they are the fuel of the crypto currency space. I also think miners should be the one who decide the price of coin. This way they will live and crypto will live too.
Thanks for posting this @OP. Can you post some data if possible.
Whether you encourage or discourage, money will attract them towards it. Remember, when one really wants to do something, they won't care for other people's opinion(s).
The profitability of mining is connected to the electricity price. As the price of crypto currency is low mining is only profitable in those countries with low electricity prices. Without PoW mining there is no decentralization and this is why it is where important to be continued.
The large mining farms then start becoming unprofitable since all they see in crypto is pure profit and greed, and will start shutting down.
You always say this kind of garbage when you have no understanding of what a business is thinking. You just use the same tired old tropes to whine about large miners. Sorry you werent made a millionaire by running a few GPU rigs, but you dont need to spread this kind of garbage because of it.
Think I have been around long enough to know what most large mines think...its not rocket science. Garbage is what the large ASIC companies and their large customers have done to crypto, and will keep doing what im going to shut that down.
And I wish im a millionaire, but selling hardware at cost so people can be part of this revolution does not make millionaires.
The large mining farms then start becoming unprofitable since all they see in crypto is pure profit and greed, and will start shutting down.
You always say this kind of garbage when you have no understanding of what a business is thinking. You just use the same tired old tropes to whine about large miners. Sorry you werent made a millionaire by running a few GPU rigs, but you dont need to spread this kind of garbage because of it.
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