Topic: Why are people so negative about mining? Stop it... - page 2. (Read 905 times)

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.

I think the same. All gamers want the GPU for gaming, but it's too expensive.

Here are some numbers from my Avalon 741:


https://imgur.com/a/jAeWl

Asics are Loud, Hot and not very profitable, even when BTC is at $11,400 usd.

Who knows what BTC will do in the next 494 days.

I would not suggest anyone buys an ASIC right now


Here is the link for the $1450 price: https://blokforge.com/product-category/new-miners/

And I forgot to add: Power supplies and controllers will add another $300 and 101 days to the totals

595 days ROI at  this point in time

No FUD
Just fact

they are negative, because they mised when btc was 1$
others are mad because they cant buy gpu for gaming

People who don't have a possibility to buy video-adapters, don't know how to work with all equipment, don't have time to understand how this thing (mining) works and etc. - they will always have a great number of bad stories and negative approach for any kind of mining
And as higher price bitcoin or other krypto will get more and more negaive stories will appear everywhere
I don't know anyone from miners who has a negative opinion about it's mining-machine or about the whole of mining process

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!!!

Uh, maybe it just have been happening on its own based on how mining was designed by Crytocurrencies like Litecoin.
A specialized mining equipment like ASICs will always makes the true nature of mining based on how digital currencies are designed out of track.
Same as Pools (Pools are evil too)

ASICs are made to step-up one's game.
Pools are made for standard miners to battle ASICs.
Both makes the cryptocurrency mining a fukcd-up game.

This needs to stop, No  .

my nightmare view of bitmain and why folk hate mining..hopefully I'm wrong about how dire this may be (then again trump was elected president...all evils are possible)

yep....the march/april/...glut....asic wise...mainly scrypt-pow stuff L3+'s ..of stuff shipped ...with nothing of note (scrypt-pow miner wise anyway) from Dec to March/April of 2018 in the world...all bitmain mining difficulty being driven up ...as mostly the only game in town adding new hash...up those

months. w/o equip hitting consumers...just data hall run up....then announce say end of April new equip lower electric say 1TB units...available end of say August/Sept another NO MINERS available from then till say May to Sept/Oct when you as a consumer can get your hands on a

consumer version of the new asic miners...that bitmain has mined the heck out of for the summer...thus in a period of say Jan thru Say Sept (9 months) equipment actually hits

the consumer world 2x .....April (as the main push) and Sept (as the 2nd push) the other 7 months mainly is bitmain sitting on pre-orders and mining like hell from Jan to March/April

and then with new equipment over the summer...mining like hell from say June thru Sept....(I say sept by the time you get the consumer equipment in hand)

and as a further evil bitmain trick...the bitmain sales site is mainly inaccessible ...and hard to order from (driving up demand) and the usual adjustment in price of units and numbers

compared to difficulty and say LTC price...so the units in those 9 months could vary in price depending on low or high price of LTC by as much as 1,000 usd or more..from 1 week or month to the next...one way or the other

and/or on a whim ..bitmain just deciding not to sell anything for 3 months ..just to help their own mining data halls vs difficulty...the usual possiblities of catch all catch can on the site..

got to admit as 'evil plans go' and 90% of all asic equipment to the consumer comes thru bitmain... they are playing us like a 'fiddle' indeed!

(bitmain: evil makes the heart grow fonder....for more evil!) (tm: bitmain)

Again, hope all above is incorrect...just fleshing out the 'supposed' nightmare game plan...(or how to pretend to be jihan wu and piss off the world game)

IF we get say $300 buck LTC in march/april...the glut of equipment (scrypt-pow) should maybe float and still have a chance of ROI and my stuff (legacy) could maybe plop along

till fall....IF LTC was $400 ...then perhaps the march/april stuff could ROI and (if possible) getting new asic tech equipment for fall 2018 may pay off also or worth the gamble

in other words we slide by....bitmain wins big if we don't ROI and really, really big if we do ROI

but, betting on supposed LTC price to carry us thru on bitmain's plans for their own equipment/data halls and consumer sales of Asics is always tricky

be sure though either $300 or $400 LTC bitmain will be the BIG winner...and we will get the crumbs.....(again...bitmain: its how we roll!)

my 2 satoshi fantasy (hopefully) above

and why most people are 'somewhat' pessimistic on ASIC miners ..specifically the scrypt-pow versions vs bitmain's data halls.....slim pickings indeed!

the analysis is enough making laugh.
you know the case the Fork NXT become IGNIS coin. the trader traditionally (I use your Idiom). they buying NXT at the price high because they hope to get an IGNIS coin. after few hour a price of NXT decreases drastically until now. and the price of IGNIS not too happy sound. So, short to story they (traditionally) become a big loss (almost all). it's different with than mining, right say, at this time the profit coin low better when buying RIG (and you say: Buying and holding has traditionally been more profitable than mining.). but if you when loss, you never have anything.if mining (miners) still have the RIG to switch another coin the profitable and they have full control to manage a profit.

That wasn't a question posed to you or anyone else other than ... Digital Drug Lord who stated 17K btc indicates a bull market.  When does 17K indicate that?  And based on what charting?  He posted no charting.  ZERO ... Last week when he said the same thing, or today, and based on what? Lol.  Numbers just thrown out the ass based on something he heard and he thinks it doesn't change, day by day.  Nothing more.  That's all I meant.

As far as people just wanting to keep people out of mining ... In the case of the very shitty outlook that Metroid (I like him more and more as he has became way less of an asshole) has, I don't think he is wrong in saying that people should not be spending 1K on a RX 580 ... Personally, I wouldn't pay 1K for a 1080ti.  If I were buying gpu's right now, I wouldn't buy anything less than a 1080ti, but I certainly wouldn't pay 1k for them.  I wouldn't buy a 1080ti at MSRP right now (partially, because I already have several of them) But ... We're too close to something better coming along to start buying up the last few at high price points, in my opinion.

Bottom line is that if you're just getting into gpu mining in Jan/Feb of 2018, you're kinda fucking yourself as opposed to watching and waiting, unless you're getting the deals that are not advertised on any retailer website for gpu's.  That isn't to say that you'll never make your money back.  But ... You should be mining and holding for better days.  Mining for daily cashouts was only a thing for a very short peroid of time.  Those days may come back, but they won't last ... Just as they didn't last this past time. 

Link from another thread on this topic on why I'm dubious on bitmain units of any flavor at this point in time ...you getting 12-14 month ROI with electric...from their products

based on past experiences and the increase in game playing and stalling the shipping of equipment according to difficulty and or a rapid price increase in coin...bitmain is a master

of this IMHO

https://bitcointalksearch.org/topic/m.31152081


anyway my view....you can review above

hope I am incorrect.....I have legacy miners...but sure don't like the trend....

No conclusion btc just will over time right now there holding stable at about 10 k  once they start back up they may stop at 21k then back down an hold at 17 k for a while ,I don't want BTC going up to fast and getting to much attention from the GOV but that's how i see it ...beside 10k isn't to bad.  as far as being negative about mining, i tend to agree with most it trolls and those who don't like sharing it's the greedy ones.

and any miner now will still be usable for at least a year plus... including ASIC miners ..... it all depends what you want out of mining ...  I have a batch three L3 + miner coming next month and may buy a few of the V9 and i said i wouldn't buy bit main again up til now i held out ... it's just to much fun and one big addiction ...

Oh Cool.  Which charts and which ta indicators are you using on those charts to come to that conclusion?

I think they say negative about mining maybe because they do not see connection between mining and end products they consume. Or maybe for the extremely hard working conditions for the workers in the past.

Some people F.U.D. in order to try to discourage other potential miners from joining and driving up the difficulty. Other's are just ill tempered in general or trolls without anything else to invest effort into.

Then again some people are legitimately irked at the "get rich quick" influx of new miners during the big profitability spike at the end of 2017.

I paid $1000 for my water cooled 1080ti with a 4 year warranty... im glad i dont have to worry until the year 2022.....

bitcoin needs to go over $17,000 to indicate a bull market so HODL

Cause people are stupid, paying $1000 for a rx 580 is beyond stupid, they will never get their money back and resellers will keep the price high cause there are idiots paying what they want.

So many people make these claims without any clue as to what they are talking about. Its amazing the amount of disinformation you can find on these forums.

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

u r mining the wrong coin. with your setup you should be doing 15€ net per day...research a little bit before calling ppl stupid...