Topic: Turning off miners - page 6. (Read 36432 times)
The difficulty went down 0.2G, a sign of the times?
The difficulty increase combined with the price drop has me turning off another batch of miners. How about you?
Ya, same thing happened to me. Witht he oversaturation of the market, I am not making nearly enough for the combined effort and electricity bill to make sense. I think a lot of people are going to be turning away from mining and finding other ways to get their bitcoin fix!
All of my miners (ZeusMiner Blizzard, GridSeed Orb, AM S3+, 2 RockMiner New R-Boxes, and 2 RockMiner R-Boxes) are paid for and my electric is currently free... So I'm keeping mine running; I will for quite a while.
They're paid for by the government... I got a $2800 government Pell grant for college. $800 of which I didn't need to use for college.
They're paid for by the government... I got a $2800 government Pell grant for college. $800 of which I didn't need to use for college.
Nice way to start up and that you got free electric. Wonder how their bill looking with using more energy
is good to so no harm in mining at all as it will be free for you and generating coin.
All of my miners (ZeusMiner Blizzard, GridSeed Orb, AM S3+, 2 RockMiner New R-Boxes, and 2 RockMiner R-Boxes) are paid for and my electric is currently free... So I'm keeping mine running; I will for quite a while.
They're paid for by the government... I got a $2800 government Pell grant for college. $800 of which I didn't need to use for college.
They're paid for by the government... I got a $2800 government Pell grant for college. $800 of which I didn't need to use for college.
I'm serious.. If you are wiling to sell any s4.. PM :-)
What about alternative energy to power the equipment.
Wonder if there is even a calculation for that. Solar, wind etc.
Wonder if there is even a calculation for that. Solar, wind etc.
Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
why dont you sell the miners , and then later on buy an more updated ASIIC for the money ? imo this would be the most economic choice atleast.You get nothing for the miners no days. Maybe get $50 to $100 at most for an S1 old 80GH Avlaon maybe $20 if that lol and to compare with Antminer s5 are 370 USD for 1.1TH mining power so for 200GH miner going to get what a fraction so its pointless to sell on when can use it to mine towards other coins when they come out and make that 10x over when the coin goes to exchange. It is far better to keep and m ine the odd few days here and their with antminers than to sell for next to nothing.
im thinking s1's value is closer to $20.
I am actually surprised if S1 still have value, can't even break-even electricity cost. Who buy them anyway?
Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
why dont you sell the miners , and then later on buy an more updated ASIIC for the money ? imo this would be the most economic choice atleast.You get nothing for the miners no days. Maybe get $50 to $100 at most for an S1 old 80GH Avlaon maybe $20 if that lol and to compare with Antminer s5 are 370 USD for 1.1TH mining power so for 200GH miner going to get what a fraction so its pointless to sell on when can use it to mine towards other coins when they come out and make that 10x over when the coin goes to exchange. It is far better to keep and m ine the odd few days here and their with antminers than to sell for next to nothing.
im thinking s1's value is closer to $20.
Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
why dont you sell the miners , and then later on buy an more updated ASIIC for the money ? imo this would be the most economic choice atleast.When miners are obsolete for generating a profit, the consideration of having to pay shipping costs would ensure that the buyer would be more likely to incur a loss (in almost any case except where a buyer has free power).
I hope more and more miners get shut off, especially the large farms. I'd like to see mining done mainly by individuals and pools of individuals, not large-scale industrial facilities.
Would be nice for that to happen but seems more company's been jumping on it seen on news the other week that one company has gone bust due to buying millions of $ worth of equipment and it was working out good for them then comes the bills for them and they had to cease business and turn off some kept running to squeeze the last bits of profit out of it but most are seeing that it is only profitable if prices sustain them self and energy is cheap. I only turn my lot on when needed now or when new coins come along and even then sometimes rent the hash power as its a lot cheaper to or just buy up the coins instead.
I hope more and more miners get shut off, especially the large farms. I'd like to see mining done mainly by individuals and pools of individuals, not large-scale industrial facilities.
Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
why dont you sell the miners , and then later on buy an more updated ASIIC for the money ? imo this would be the most economic choice atleast.You get nothing for the miners no days. Maybe get $50 to $100 at most for an S1 old 80GH Avlaon maybe $20 if that lol and to compare with Antminer s5 are 370 USD for 1.1TH mining power so for 200GH miner going to get what a fraction so its pointless to sell on when can use it to mine towards other coins when they come out and make that 10x over when the coin goes to exchange. It is far better to keep and m ine the odd few days here and their with antminers than to sell for next to nothing.
Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
why dont you sell the miners , and then later on buy an more updated ASIIC for the money ? imo this would be the most economic choice atleast.
Turned my miners off 6 months ago as it was getting to the point of no return on braking even each day and eventually started costing more in energy then it was producing BTC and the drop in prices and energy costs continue to spike or go up is not cost effective. It was a hobby but turning out to be way to expensive. I will only put my miners to work when a new sha coin comes along and mine it for a few days to get a chunk of them. Maybe when something comes along to be better or btc prices go up then might consider to turn back on but right now their staying off until prices are better or theirs a better alt coin out to mine.
It's funny seeing some people thinking that free electricity = profit. When you take into consideration deflation of the mining equipment, you most of the time end up losing, unless you have a way you can sell the equipment fast.
if you want to sell some SP20 or S4.. contact me 
Eventually it's going to get to the point where it will be pointless mining, the rewards are just not worth it anymore.
You need more power. And if the price of Bitcoin goes up, the price of electricity will go down.
Unfortunately, difficulty is increasing faster then bitcoin goes up, so electricity price ratio is always going higher and higher.
Turning more on to mine altcoins
Eventually it's going to get to the point where it will be pointless mining, the rewards are just not worth it anymore.
You need more power. And if the price of Bitcoin goes up, the price of electricity will go down.
Well I'm expanding my mining. Adding about 3TH per month. Great deals out there on miners at the moment.
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