Topic: Turning off miners - page 8. (Read 36355 times)

I don't think it adds value if the cost of electricity surpasses the value of the BTC mined. I actually think it decreases BTC's value overall if it is just wasting resources and money.

This isn't any different in fiat, we get ripped of every day, apple, google, facebook etc etc

I'm guessing this is why the difficulty has been going up and down the last few adjustments.

Some people (and perhaps farms) are shutting down. Then when they see the difficulty adjust slightly lower, they power up again. Then the next adjustment goes up slightly. Just back and forth until they decide to get out of the business entirely.

I took a couple S3's that have been replaced with SP20's and decided to swap out the fans for silent ones, and downclock two of them to 150mhz doing ~300GH/s each @ ~242W.

Kinda sucks that the efficiency doesn't scale better on the S3's as you clock them lower Was a bit disappointed to see that.

Yeah, it is this kind of industrial mining that finally drives me away from BTC 

Having home miners was one part of BTC that I enjoyed. All over for months now. The other part was being part of a new and more democratic way of payment. That was probably naive but I nonetheless did appreciate it. For a while now bitcoin just feels like greedy mafia business and third world money making machine. For the mafia part: not only do asic producers try to rip you off but also cloud miners and payment exchanges. And for the third world: throw coal in on the one side and feed btc miners on the other side; let's not talk about ecological consequences.

From my GPU times till now bitcoin has turned from hobbiest enjoying themselves into a twisted Lovecraft version modern currencies. Two years ago I would encourage people to try bitcoins, try mining and try being part of the community. But nowadays I would say stay away. There is nothing (positive) to experience anymore. Rip off and industrial mining await you  I mean I actually think it is fair to pay a few percentage points when using paypal and not having to deal with all that bitcoin hassle.

I think now is time for me to also turn off my bitcoin node I've been running since my miners were turned off. It just makes no sense to give anything back anymore. 

Its not a good thing to turn off miners.....because it is my earning source

I've only been renting power. Too expensive to run @ current price.

https://blockchain.info/pools

Look how much the Unknown slice has grown. It used to be tiny. Difficulty going up another 6%. It would appear there are huge private setups running.

sorry to hear that. BTC will acquire value if it's constantly backed up by miners and nodes.

With the new increase in difficulty and the super low price I think it is time to shut down my S3+ again. I hope the price recovers but I don't think it will.

Currently have my S2 in the room next to mine and actually its not even noticeable. If you had multiple S2's (or S3's) then yeah... I could see how it could be bothersome. I do have a BFL SC 60 and umm... The S2 is a lot less noticeable thanks to there not being a whine sound.

A bunch of S3s all stacked together will be bothersome. Best to keep them in a separate room.

_Regards,
°._{°°°°°°°°} a.k.a 10⁸

For the sake of argument, the S2 and S3 are about the same volume.

Venezuela man.. i made a bad calculation.. it's $6 bucks

How is the noise between the S2 and the S3?

Someone is selling an S2 on the classifieds and wondering if its worth getting as a home miner.

The country of doesn't exist , turkmenistan has free electricity for its citizens though

$3 per month for 3 SP20
you are lucky to be born at your country dude
btw what country are you live ?

Home miners, are bitcoin users, those big bitcoin farms are not bitcoin users, they're abusers and dumpers. I can't wait til they decide to boot them self off the network.

I think home miners quitting the mining business also has effects on the bitcoin economy as a whole. In the 2013 BTC boom hardware was solely bought with BTC, fuelling the rising prices of BTC. In 2013 und 2014 I spent most of my BTC at buying hardware. After my miners were obsolete in spring last year I did not need additional BTC. So I kept my BTC except some humblebundle purchases. So loosing the home miners is not a good prospect for bitcoin.

it's such a shame reading that a lot of miners are going to shut them down.. i have 3 SP20s running smoothly and i only pay like $3 per month in electricity.. luckly the goverment have fixed the issue with that

yeah does not look good.