Bitcoin is dead
Thanks for letting us know. I completely missed that memo.
Topic: Thoughts on the future of mining? - page 3. (Read 6695 times)
Thanks for letting us know. I completely missed that memo.
its simple,
Mining it self its DEAD!
You could mine other coins, but they aren't worth that much.
Bitcoin is dead, its takes allot of power to get a single BTC.
Yes you could get New Gen ASIC that will give 50+Ghps, but even so that will take you a year to get your ROI back.
The only people making money here NOW is companies selling ASIC Miners to newbie who are thinking that if they invest $500, $2,000, $10,000 or more they could get their money back in half a year or even in a year.
But if you calculate how much those ASIC are + power consumption + time/date when will you get the ASIC unit.
Yes its was great for those in the beginning when it was easier to mine.
So if you just join the Bitcoin Rush, its to late, that mountain is empty....
Mining it self its DEAD!
You could mine other coins, but they aren't worth that much.
Bitcoin is dead, its takes allot of power to get a single BTC.
Yes you could get New Gen ASIC that will give 50+Ghps, but even so that will take you a year to get your ROI back.
The only people making money here NOW is companies selling ASIC Miners to newbie who are thinking that if they invest $500, $2,000, $10,000 or more they could get their money back in half a year or even in a year.
But if you calculate how much those ASIC are + power consumption + time/date when will you get the ASIC unit.
Yes its was great for those in the beginning when it was easier to mine.
So if you just join the Bitcoin Rush, its to late, that mountain is empty....
Isn't that the whole point of mining coins? To make a personal profit? I didn't spend about $1000 on mining PCs and GPUs to help OTHER people, I can guarantee you that! 
Difficulty is rising sharply as price stagnates, so I can't help but worry that as small-time miners are squeezed out of the game there will be more and more opportunities for other alt-coins/payment systems to steal Bitcoin's market share. I say this because I have always felt that a driving force of the Bitcoin economy was the fact that a large subset of users were profiting from mining, and when and if this opportunity erodes for the casual bitcoiner, the entire economy will be put at risk by the threat of new systems offering better incentives (or at least the chance of an incentive). Is Bitcoin still fine just as it is?
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