Topic: Why are people so negative about mining? Stop it... (Read 902 times)
The other impact of mining is its hog up all the GPUs. Gamers are not able to buy GPU at decent price. This is the side effect of mining. GPU sellers are selling at very high price and still many people are buying for mining.
I'm tired of hearing so much negativity when it comes to mining bitcoin and alts. For the Antminers, in particular, people continue to say that they don't produce a "ROI". That's just so much BS and FUD spreading...STOP IT!
I've done a ton of research on bitcoin and litecoin mining (using ltcwisdom.net) and even with serious increases to difficulty on a weekly basis (based on average increases) and, again, assuming the price of the coins don't drop extensively, you can BREAKEVEN (stop saying "ROI" when you mean BE by the way...you can have a negative ROI...so when you say "you won't ROI" that doesn't make sense) in 7-9 months on a L3+. That's worst case scenario. Best case is 4-5 months breakeven. Then, after that, it's ALL PROFIT. What is so bad about that if you have 15 machines? So you wait 4-5 months until it's paid back. And yes, maybe you're not making as much as when you first got the machines due to difficulty but you're sitting on passive income.
Same thing goes for the A3....oh boo hoo you're not making $500/day. Boo hoo you're not making $50/day. Even making $10-15/day when the machine costs $1,000 is worth it assuming you can get for a month or two. Even if you only get that rate for a month, you're paying off at least 50% -75% of your investment. That's the risk you take....
So please stop spreading FUD - we know you just don't want competition...too bad.
End Rant.
I've done a ton of research on bitcoin and litecoin mining (using ltcwisdom.net) and even with serious increases to difficulty on a weekly basis (based on average increases) and, again, assuming the price of the coins don't drop extensively, you can BREAKEVEN (stop saying "ROI" when you mean BE by the way...you can have a negative ROI...so when you say "you won't ROI" that doesn't make sense) in 7-9 months on a L3+. That's worst case scenario. Best case is 4-5 months breakeven. Then, after that, it's ALL PROFIT. What is so bad about that if you have 15 machines? So you wait 4-5 months until it's paid back. And yes, maybe you're not making as much as when you first got the machines due to difficulty but you're sitting on passive income.
Same thing goes for the A3....oh boo hoo you're not making $500/day. Boo hoo you're not making $50/day. Even making $10-15/day when the machine costs $1,000 is worth it assuming you can get for a month or two. Even if you only get that rate for a month, you're paying off at least 50% -75% of your investment. That's the risk you take....
So please stop spreading FUD - we know you just don't want competition...too bad.
End Rant.
i worked in mining and now i am mining monero but mining is so difficult job that you must consume hardware and also electric power, and if you check the mining process u will find out that the heat of mining like Heater. you need some external cooler to cool the mining room. and other disadvantage of mining is that, you must hold your coin to reach a good point vs BTC or $. some of devices will had been some problem with rigs and also other problems. so it seems that some one prefer trading or other ways to earn money.
Yes as I know mining difficult job, and earn a little bit more than a few years ago. Must have a great high specification hardware to do, cooler, make the mining room cool and run 24 hours etc. Most of people now do another ways to earn money like investment, trading etc. I ask my friends why he do mining? He said now is hard to earn the money. So most of people thinking negative about mining. Making per day from mining smaller than cost of mining. It's a big risk!
I'm tired of hearing so much negativity when it comes to mining bitcoin and alts. For the Antminers, in particular, people continue to say that they don't produce a "ROI". That's just so much BS and FUD spreading...STOP IT!
I've done a ton of research on bitcoin and litecoin mining (using ltcwisdom.net) and even with serious increases to difficulty on a weekly basis (based on average increases) and, again, assuming the price of the coins don't drop extensively, you can BREAKEVEN (stop saying "ROI" when you mean BE by the way...you can have a negative ROI...so when you say "you won't ROI" that doesn't make sense) in 7-9 months on a L3+. That's worst case scenario. Best case is 4-5 months breakeven. Then, after that, it's ALL PROFIT. What is so bad about that if you have 15 machines? So you wait 4-5 months until it's paid back. And yes, maybe you're not making as much as when you first got the machines due to difficulty but you're sitting on passive income.
Same thing goes for the A3....oh boo hoo you're not making $500/day. Boo hoo you're not making $50/day. Even making $10-15/day when the machine costs $1,000 is worth it assuming you can get for a month or two. Even if you only get that rate for a month, you're paying off at least 50% -75% of your investment. That's the risk you take....
So please stop spreading FUD - we know you just don't want competition...too bad.
End Rant.
I've done a ton of research on bitcoin and litecoin mining (using ltcwisdom.net) and even with serious increases to difficulty on a weekly basis (based on average increases) and, again, assuming the price of the coins don't drop extensively, you can BREAKEVEN (stop saying "ROI" when you mean BE by the way...you can have a negative ROI...so when you say "you won't ROI" that doesn't make sense) in 7-9 months on a L3+. That's worst case scenario. Best case is 4-5 months breakeven. Then, after that, it's ALL PROFIT. What is so bad about that if you have 15 machines? So you wait 4-5 months until it's paid back. And yes, maybe you're not making as much as when you first got the machines due to difficulty but you're sitting on passive income.
Same thing goes for the A3....oh boo hoo you're not making $500/day. Boo hoo you're not making $50/day. Even making $10-15/day when the machine costs $1,000 is worth it assuming you can get for a month or two. Even if you only get that rate for a month, you're paying off at least 50% -75% of your investment. That's the risk you take....
So please stop spreading FUD - we know you just don't want competition...too bad.
End Rant.
i worked in mining and now i am mining monero but mining is so difficult job that you must consume hardware and also electric power, and if you check the mining process u will find out that the heat of mining like Heater. you need some external cooler to cool the mining room. and other disadvantage of mining is that, you must hold your coin to reach a good point vs BTC or $. some of devices will had been some problem with rigs and also other problems. so it seems that some one prefer trading or other ways to earn money.
Most old adopters or people who mined in 2016 or earl 2017 aren't negative.
The people who are negative are the ones who overpaid for expensive Nvidia GPUs that they got in Jan and are now making exactly half of their gains.
Most old adopters are still hashing away with their 7970s, 290 and don't really care about ROI.
The people who are negative are the ones who overpaid for expensive Nvidia GPUs that they got in Jan and are now making exactly half of their gains.
Most old adopters are still hashing away with their 7970s, 290 and don't really care about ROI.
Toatally agree... it's pretty tiresome to read someone posting their sad story when they just started and they didn't bother to look at a little bit of history. I would still be hashing away with my 290s but honestly they were just so hot and power hungry that I got 1070s pretty early when I saw that they perform roughly as well as a 290 but for half the watts. Glad I got them before every person who read headlines about BTC going past $20k thought they had to jump in on this "free money".
That's one very important point about GPU mining. I was able to mine with 290s for around 12-15 months (many of them used 290s) then I was able to sell them on Ebay and get back at least half what I paid for them or better, when they had already easily paid for themselves - but you're right, I didn't care. It just made it financially easier to transition to 1070s - especially before 1070's were like trying to buy unicorn shit. The important thing is I was able to keep mining because it's GREAT FUN. Sometimes it makes a lot of money, sometimes it makes just over costs, (if I were mining to cash out staright away which I'm not) but either way I think if you are mining purely for profit and you don't actually enjoy it as a technical challenge and a great hobby - naturally you are going to be sad about it when it isn't churning out big profits, and then I guess you might post some negativity and FUD. Then you are a sad boring person IMHO.
Crypto mining is a very important part of a new (probably) world changing technological ecosystem. I'm happy just to be part of that. Any ROI I have made (many times over) is just a bonus that allows me to keep doing it.
Imagine what will happen if Ethereum goes POS, 2-3 million or more GPUs have to go somewhere or get sold. Interesting times ahead indeed!! 
The method will be implemented slowly. It's not gonna be like today you mine etherium and tomorrow you don't. Apart from that there're a lot of valid coins profitable to mine. And even if all miners swap to them they will pull the diffuculty up to the skies and the price of the mined coin correspondingly. Ethereum itself wouldn't have cost so much had it been not a big deal to mine some. Total network hashrate defines the price.
Imagine what will happen if Ethereum goes POS, 2-3 million or more GPUs have to go somewhere or get sold. Interesting times ahead indeed!!
The Ethereum going to PoS is a staged process. So the effect will be less when GPU go to other algorithms slowly.
Imagine what will happen if Ethereum goes POS, 2-3 million or more GPUs have to go somewhere or get sold. Interesting times ahead indeed!!
Why would anyone be negative? This trend will soon change. GPUs will become cheaper, mining profitability will go up. I promise you, its always the same circle. We've been here before, saying mining is "dead" a 100 times. Just relax and be happy, keep mining.
I'm tired of hearing so much negativity when it comes to mining bitcoin and alts. For the Antminers, in particular, people continue to say that they don't produce a "ROI". That's just so much BS and FUD spreading...STOP IT!
I've done a ton of research on bitcoin and litecoin mining (using ltcwisdom.net) and even with serious increases to difficulty on a weekly basis (based on average increases) and, again, assuming the price of the coins don't drop extensively, you can BREAKEVEN (stop saying "ROI" when you mean BE by the way...you can have a negative ROI...so when you say "you won't ROI" that doesn't make sense) in 7-9 months on a L3+. That's worst case scenario. Best case is 4-5 months breakeven. Then, after that, it's ALL PROFIT. What is so bad about that if you have 15 machines? So you wait 4-5 months until it's paid back. And yes, maybe you're not making as much as when you first got the machines due to difficulty but you're sitting on passive income.
Same thing goes for the A3....oh boo hoo you're not making $500/day. Boo hoo you're not making $50/day. Even making $10-15/day when the machine costs $1,000 is worth it assuming you can get for a month or two. Even if you only get that rate for a month, you're paying off at least 50% -75% of your investment. That's the risk you take....
So please stop spreading FUD - we know you just don't want competition...too bad.
End Rant.
I've done a ton of research on bitcoin and litecoin mining (using ltcwisdom.net) and even with serious increases to difficulty on a weekly basis (based on average increases) and, again, assuming the price of the coins don't drop extensively, you can BREAKEVEN (stop saying "ROI" when you mean BE by the way...you can have a negative ROI...so when you say "you won't ROI" that doesn't make sense) in 7-9 months on a L3+. That's worst case scenario. Best case is 4-5 months breakeven. Then, after that, it's ALL PROFIT. What is so bad about that if you have 15 machines? So you wait 4-5 months until it's paid back. And yes, maybe you're not making as much as when you first got the machines due to difficulty but you're sitting on passive income.
Same thing goes for the A3....oh boo hoo you're not making $500/day. Boo hoo you're not making $50/day. Even making $10-15/day when the machine costs $1,000 is worth it assuming you can get for a month or two. Even if you only get that rate for a month, you're paying off at least 50% -75% of your investment. That's the risk you take....
So please stop spreading FUD - we know you just don't want competition...too bad.
End Rant.
The issue, obviously, is that cryptomining is more well known than any time in recent years.
What's more, as more individuals find the idea, more individuals require equipment to control their new side interest. Without a quick increment in supply from designs card creators like Nvidia, AMD, Asus, and others, it's far-fetched that this issue is leaving at any point in the near future.
They can't comprehend the concept of blockchain, which why they believe miners get their money out of nowhere and all the cryptocurrency economy is a simple fraud in essential.
They're simply envy in general because it needs money to get into it.
Most old adopters or people who mined in 2016 or earl 2017 aren't negative.
The people who are negative are the ones who overpaid for expensive Nvidia GPUs that they got in Jan and are now making exactly half of their gains.
Most old adopters are still hashing away with their 7970s, 290 and don't really care about ROI.
The people who are negative are the ones who overpaid for expensive Nvidia GPUs that they got in Jan and are now making exactly half of their gains.
Most old adopters are still hashing away with their 7970s, 290 and don't really care about ROI.
LOL
These have not been sold out "for a while". They sold out 2-3 days ago...I bought 6 of them for that price
And that's not how it works mathematically re: the mining revenue. Sorry
Ahhhh, I see, you have $7200 invested and you are worried/seeking assurance.
I honestly wish you the best, hopefully the income will not drop.
If these are your first ASICs, i would suggest that you have the power supplies set up and ready to go, get then online as fast as you can.
Please update this post with your progress
You said you started mining. Even if your saying that these are FUD is valid, if I were you, I will keep spreading that so called FUD.The lesser miner, the better, right?
I honestly don't think mining isn't profitable. I had a GTX 950 lying around, and now I'm making 1.5 dollar a day mining ZEC. I definitely did think mining was a waste when I was mining monero though. The pool I was using had a threshold of .5 monero, and a week into mining the diff started rising dramatically. Fast forward 2 months later, I had 50 bucks that I cannot cash out 
But on nano pool the threshold is .01 ZEC, so definitely I'm a happy miner, even though the income isn't huge. Atlas it pays for my WIFI and electric and some of my water
But on nano pool the threshold is .01 ZEC, so definitely I'm a happy miner, even though the income isn't huge. Atlas it pays for my WIFI and electric and some of my water damn you have cheap wifi / electric and water
Those sold out a while ago. There are NO $1000 A3's to be had that ship today.
That posting ships out in the future, not today ( if it were still available)
And that is batch 2.
Batch 1 went from $500/day to $100 in like 2 days, and is now down to $30.
Batch 2, (the link you point at) might not be as bad, but using those ratio's: $30/day down to about $1.80/day in a couple of months.
This is not free money, factor in electric cost, factor in difficulty rise, do all of the math and its not FUD.
That posting ships out in the future, not today ( if it were still available)
And that is batch 2.
Batch 1 went from $500/day to $100 in like 2 days, and is now down to $30.
Batch 2, (the link you point at) might not be as bad, but using those ratio's: $30/day down to about $1.80/day in a couple of months.
This is not free money, factor in electric cost, factor in difficulty rise, do all of the math and its not FUD.
LOL
These have not been sold out "for a while". They sold out 2-3 days ago...I bought 6 of them for that price
And that's not how it works mathematically re: the mining revenue. Sorry
Those sold out a while ago. There are NO $1000 A3's to be had that ship today.
That posting ships out in the future, not today ( if it were still available)
And that is batch 2.
Batch 1 went from $500/day to $100 in like 2 days, and is now down to $30.
Batch 2, (the link you point at) might not be as bad, but using those ratio's: $30/day down to about $1.80/day in a couple of months.
This is not free money, factor in electric cost, factor in difficulty rise, do all of the math and its not FUD.
That posting ships out in the future, not today ( if it were still available)
And that is batch 2.
Batch 1 went from $500/day to $100 in like 2 days, and is now down to $30.
Batch 2, (the link you point at) might not be as bad, but using those ratio's: $30/day down to about $1.80/day in a couple of months.
This is not free money, factor in electric cost, factor in difficulty rise, do all of the math and its not FUD.
Cheapest ebay BIN A3 is $2200 + $200 for a PSU:https://www.ebay.com/sch/i.html?_from=R40&_sacat=0&LH_BIN=1&_nkw=a3+miner&_sop=15
Bitmain is sold out.
Please post your link for a $1000 A3.
If you can find one at that price, and can get it quick, I would take the risk.
I'm suprised SIA is still making that.
Bitmain is sold out.
Please post your link for a $1000 A3.
If you can find one at that price, and can get it quick, I would take the risk.
I'm suprised SIA is still making that.
https://shop.bitmain.com/productDetail.htm?pid=00020180129095202674bwQAJFdr06CB
It's on their front page...
Cheapest ebay BIN A3 is $2200 + $200 for a PSU:https://www.ebay.com/sch/i.html?_from=R40&_sacat=0&LH_BIN=1&_nkw=a3+miner&_sop=15
Bitmain is sold out.
Please post your link for a $1000 A3.
If you can find one at that price, and can get it quick, I would take the risk.
I'm suprised SIA is still making that.
Bitmain is sold out.
Please post your link for a $1000 A3.
If you can find one at that price, and can get it quick, I would take the risk.
I'm suprised SIA is still making that.
Please, just stop with this f.....g nonsense!!! Did you even realise that outside are parts of the world where you earn just 50dolars per months for a very hard work 16h per day 7days per week?
And You just getting a very good ammount of money almost for free!!!
Permonik:
You can't compare the income in a part of the world where $50 a month is a lot.
There are few people that would spend (or have) 3 years of income ($1750/$50 a month= 35 months) to buy an Asic.
If you make $50 a month you would be nuts to risk 3 years of income on an ASIC.
Dude - simple math...
ASIC A3 is making $30/day.
$30*30 = $900
Cost of 1 A3 - ~$1,000
Breakeven = 1 month
Say difficulty goes up and you only make $15/day...
$15*30 = $450
Cost of 1 A3 - ~$1,000
Breakeven = 2 months
I don't know what universe you live in but a 2 month B/E is hella good in the business world.
Jump to: