Topic: Why are people so negative about mining? Stop it... - page 3. (Read 902 times)

That's at the current price of whatever currency you are mining. (ETH?) I am betting on ETH to be over 4k within a year or two.

If you buy the right coins at the right time. GPU mining is a hedge against a market downturn, in that your ongoing costs are essentially the same for any coin and your cost per coin is less than the market value of those coins. My HD 7850 from 2014 is still mining and profitable.

Mining profits are currently about what they are historically. What is terrible are the prices to startup a rig compared to what they were 2 months ago.

Good moral/ideology points but still waiting for the financial analysis proving me wrong on Antminer ASICs (specifically L3+ purchases).

Buying and holding seems to be riskier use of proceeds - at least with mining you have hardware and could potentially resale if price drops or a new version comes out.

I hear rumors that S9's will become obsolete this summer with new releases, so I agree that going all in on S9's right now probably not a great idea given the $2,600 price point.

well you dont know if another ethereum like coin will come out

1. Buying and holding has traditionally been more profitable than mining.

2. Everyone who bought during the craze is about to become obsolete as a new generation of Nvidia cards come out and put them in negative profitability.

3. ASICs suck and so do ASIC coins, why would you launch a coin without ASIC resistant code??? Centralization, market manipulation, exclusiveness. If you're into that you need to GTFO, ASICs are cancer.

4. When Ethereum goes POS if you haven't sold your GPUs your screwed. Ether refugees will drive profits through the floor.

5. POW isn't going to win.

I know right?! Makes no sense...it's all FUD mongers...I'm tired of it.

I'm in VC and invest in startups...I get the risk vs reward idea.

what i dont really get is why someone who is negative about mining in general would read a mining forum 

I was speaking theoretically. I BE last year. Now I'm in the what you call the "ALL PROFIT" zone.. Pretty crappy.
That's why I'm so negative about mining. And I'm not the only one here.

I'm talking ASICs...

My 2.6k rig (1080 ti, 1080, 1080, 1070) brings in 6 euros a day. That's ROI (or BE or whatever you want to call it) of 416,6666666666667 days. Without talking about the electricity costs - how high or low they may be.

I can't really be positive about those numbers. Don't know what planet you live on, but mining conditions at this time -and we are ALL in it for the money, even those who say they are not- are terrible.

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.