THE TRUTH - page 3. | Bitcointalksearch.org

fanatic26_

full member

Activity: 294

Merit: 129

Quote from: jstefanop on March 07, 2019, 06:57:53 PM

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.

Brubilla

newbie

Activity: 45

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Quote from: evergreendog on March 06, 2019, 07:59:18 PM

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.

FPGA mining will get you a nice PROFIT if done right - but earn that 50ct per day/GPU Tyrese - you probably would earn more in 1 minute of a normal day job

Quote from: Metroid on March 07, 2019, 12:11:05 PM

Thankgod there are miners like you trolls who earn cents, so we investors can buy cheap from you and wait till better times and then multiply our profile from 10 to 50 times without doing anything, this bear market is good, so we with the money can buy coins without any fear cause this is it, the bottom, from here coins will only grow and as you trolls sell cause you need your cents to pay for the electricity, hardware, maintenance and many other things. Profitability graph shows us, this is the golden age to buy coins, in all history of bitcoin there was not worse times than this for miners which is the best time for buyers.

Investor aka Bagholder - sometimes i wish this hole experiment will fail, as too many people are way to kinky and shouldn´t be allowed to get rich that easy

jstefanop

legendary

Activity: 2156

Merit: 1400

This is the reason why im trying to put more value to mining than the dollar cost of what your mining vs electricity.

Mining was supposed to be a distribution method for crypto that anyone could partake in, not the centralized manipulated space it is now.

What needs to be done is actually counter intuitive (and what im trying to do with my miners). Get small ASICs in the hands of so many people that the hash power of that group of people > the hash power of the small centralized elite.

What happens then? People running 100 watt crypto platforms on there desk don't care about what it costs to run one lightbulb 24/7 because its negligible. The value of running a full hardware and software stack is much greater than the pure mining rewards for an individual that cares about crypto and its future. The large mining farms then start becoming unprofitable since all they see in crypto is pure profit and greed, and will start shutting down.

Thats the idealistic place I hope crypto gets to in the future.

shield132

hero member

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Metawin.com - Truly the best casino ever

Quote from: evergreendog on March 06, 2019, 07:59:18 PM

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.

Of course non miner wants increase in difficulty because this way they can keep much profit. It's 100% logical and I can't call it being selfish. Yeah, mining is easy money but that doesn't mean you have to buy miners, start mining and lay down on sofa. You won't be able to keep getting easy money your whole life and you mustn't stop your progress. I suggest, use your free time and acquire as much skills as possible, learn programming for example and get another profit source.
No one is spreading wrong speech when they are saying that GPU mining is dead. See numbers yourself on whattomine.com

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Quote from: Grim on March 07, 2019, 03:17:00 PM

A decentralized emission period of a cryptocurrency is very essential to its core fundamentals.
Without that (once again) cryptocurrencies have failed/ are failing.
And you thinking to invest in a failure is so smart?

Even the 100% centralized coin will be decentralized if people got interest in buying it. There is no way to monopolize the market as a whole as even if holders dont want to sell for a set price, holders WILL SELL FOR A HIGHER PRICE and that is what means to be put in a market, meaning, look at eth for example 70 million coins were premined "The system went live on 30 July 2015, with 72 million coins "premined". This accounts for about 70 percent of the total circulating supply in 2018." and yet it holds a $140 mark, see my point. Even bitcoin was premined as a test subject. Decentralization means power to many.

Grim

sr. member

Activity: 506

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A decentralized emission period of a cryptocurrency is very essential to its core fundamentals.
Without that (once again) cryptocurrencies have failed/ are failing.

And you thinking to invest in a failure is so smart?

Grim

sr. member

Activity: 506

Merit: 252

Quote from: Metroid on March 07, 2019, 02:43:46 PM

Quote from: fanatic26_ on March 07, 2019, 12:57:12 PM

progpow is no magical savior, it will be cracked just like any other asic resistant algos.

ASICs do not equal centralization, please stop parroting incorrect information from the other ignorant people on this site.

Big farms buy up GPU rigs just like they do ASICs, yet dumbass people dont seem to understand how this works at a commercial level.

Educate yourself.

So true.

All of this working at a commercial level is welcome. It is so true that this isn't the problem.

Educate yourself.

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Quote from: fanatic26_ on March 07, 2019, 12:57:12 PM

progpow is no magical savior, it will be cracked just like any other asic resistant algos.

ASICs do not equal centralization, please stop parroting incorrect information from the other ignorant people on this site.

Big farms buy up GPU rigs just like they do ASICs, yet dumbass people dont seem to understand how this works at a commercial level.

Educate yourself.

So true.

Grim

sr. member

Activity: 506

Merit: 252

Progpow is an algorithm written for already existing ASICs as commodity hardware.

Until today we had algorithms which didn't fit the existing ASICs so new ones are/were created, pretty dumb thing to do.

Grim

sr. member

Activity: 506

Merit: 252

Quote from: fanatic26_ on March 07, 2019, 12:57:12 PM

Quote from: Grim on March 07, 2019, 11:31:28 AM

PROGPOW to the rescue.

Mining IS about decentralization.

Centralized ASIC mining is a RISK.

Higher hashrate alone/in one hand ISN'T more secure.

If mining gets centralized than CRYPTOCURRENCIES have failed !!!

progpow is no magical savior, it will be cracked just like any other asic resistant algos.

ASICs do not equal centralization, please stop parroting incorrect information from the other ignorant people on this site.

Big farms buy up GPU rigs just like they do ASICs, yet dumbass people dont seem to understand how this works at a commercial level.

Educate yourself.

Wow that is really dumb of you!

Congrats for relaying TOTALLY wrong information, your opinion is nothing but a disgrace.

We mine with ASICs since 2009, yes not only the gpu IS an ASIC but also the cpu. (this is new to you???)

angel55

full member

Activity: 630

Merit: 172

All of you crying about centralization can go buy Asics yourself, don't act like your only option is GPU mining. These big farms are buying huge stocks of GPU at a discount with super cheap electricity. Home miners will never be able to compete with the big boys, thats just how it is.

swogerino

legendary

Activity: 3136

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Bitcoin Casino Est. 2013

Mining with graphic card rigs is not dead but it is not profitable either. For the moment you cannot quit your daily job and live only by mining income. In developed countries you can't for sure do this. Probably in places like India with their cheap electricity and low standard of life you can. It all depends where you live at this time.

fanatic26_

full member

Activity: 294

Merit: 129

Quote from: Grim on March 07, 2019, 11:31:28 AM

PROGPOW to the rescue.

Mining IS about decentralization.

Centralized ASIC mining is a RISK.

Higher hashrate alone/in one hand ISN'T more secure.

If mining gets centralized than CRYPTOCURRENCIES have failed !!!

progpow is no magical savior, it will be cracked just like any other asic resistant algos.

ASICs do not equal centralization, please stop parroting incorrect information from the other ignorant people on this site.

Big farms buy up GPU rigs just like they do ASICs, yet dumbass people dont seem to understand how this works at a commercial level.

Educate yourself.

Grim

sr. member

Activity: 506

Merit: 252

Quote from: Metroid on March 07, 2019, 12:11:05 PM

Thankgod there are miners like you trolls who earn cents, so we investors can buy cheap from you and wait till better times and then multiply our profile from 10 to 50 times without doing anything, this bear market is good, so we with the money can buy coins without any fear cause this is it, the bottom, from here coins will only grow and as you trolls sell cause you need your cents to pay for the electricity, hardware, maintenance and many other things. Profitability graph shows us, this is the golden age to buy coins, in all history of bitcoin there was not worse times than this for miners which is the best time for buyers.

you want to invest in a centralized cryptocurrency ?
good luck
Cheesy

and who says miners aren't smart enough to hodl and god forbid even buy themself Roll Eyes

also ever heard of cornering the market? (= a large miner who also buys)

.......

h311m4n

sr. member

Activity: 487

Merit: 266

Quote from: evergreendog on March 06, 2019, 07:59:18 PM

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.

It may be easy money, but unless you have:

- Some capital to invest in mining gear, be it asics, GPUs or FPGAs
- Cheap electricity
- A good electrical installation that doesn't turn your operation in a fire hazard (which many people seem to completely overlook)

Mining is not, as of today, a profitable business, in the sense that making 1$ a day after you pay off electricity isn't exactly what I would call worth the hassle.

Then again, I don't know what you call "NICE" profits (a dollar is worth more in some countries than others).

Metroid

sr. member

Activity: 2142

Merit: 353

Xtreme Monster

Thankgod there are miners like you trolls who earn cents, so we investors can buy cheap from you and wait till better times and then multiply our profile from 10 to 50 times without doing anything, this bear market is good, so we with the money can buy coins without any fear cause this is it, the bottom, from here coins will only grow and as you trolls sell cause you need your cents to pay for the electricity, hardware, maintenance and many other things. Profitability graph shows us, this is the golden age to buy coins, in all history of bitcoin there was not worse times than this for miners which is the best time for buyers.

lunobird

full member

Activity: 846

Merit: 115

Quote from: evergreendog on March 06, 2019, 07:59:18 PM

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.

That was true only during the bull run of 2017. I'm not going to lie we were greedy.

But the truth now is we are way past the greed phase and in the anger or depressed phase. And I'm not gonna be greedy to keep my nickel I earn per day per card. I can split that with others for all I care.

I genuinely don't want to see miners get rekt but be my guess. I fear for those that bought GPU with debt.

If I had money I would buy coins. But I'm all out of cash so only thing I have left is credit which I only buy cards once in blue moon like a 2080 rtx and Vega vii for hobby mining and to keep home warm at night. Probably a bad idea but I enjoy it and so do others and that's why the market will always be oversaturated and unprofitable. Everyone knows how to gpu mine now. That was not the case before 2017

Grim

sr. member

Activity: 506

Merit: 252

PROGPOW to the rescue.

Mining IS about decentralization.

Centralized ASIC mining is a RISK.

Higher hashrate alone/in one hand ISN'T more secure.

If mining gets centralized than CRYPTOCURRENCIES have failed !!!

madnessteat

legendary

Activity: 2310

Merit: 2073

Of course, mining is not dead, but my profit has decreased by 4-5 times compared with the end of 2017 - 2018. This is quite a noticeable difference. If at that time I could recoup my RIG in 4-6 months, now it will be more than 2 years provided that the cryptocurrency prices remain the same.

BitcoinRefiner

newbie

Activity: 14

Merit: 2

Quote from: socks435 on March 07, 2019, 09:36:30 AM

There are some big company out there discouraging people to enter in mining because they don't want to difficulty increase. So I'm agree with OP.
Look at the Developers on FPGA they don't tell which coin and which bitstream you should use in order to make a good profit with FPGA and I heard there are company that making large amount of profit with FPGA which no one giving leak about this.
I don't know if its true but some youtuber that they have contact from some private company who develop FPGA for mining.

If you are just go in GPU the other comments here is true because here in my country mining is not profitable if you don't have free electricity source.

FPGA mining like Hashaltcoin?
https://www.hashaltcoin.com/

Topic: THE TRUTH - page 3. (Read 1438 times)