Topic: Why are profits so low? - page 6. (Read 2062 times)
Guess i'm fortunate to have cheap electricity here in Washington since many miners aren't even making a profit anymore.
I'm guessing these Chinese miners have free electricity from the government and they have upgraded gear that isn't even on the market yet. Like even with these low prices difficulty hasn't really even gone down, this is insane.
punch in 2 cent power and most coins look very good.
punch in 3 cent power and most coins look good.
punch in 4 cent power and some coins still work.
So if you have these power costs you buy used gear from those that have busted out and for now mining works for you.
The reality is a lot of people don't have 2-4 cent power and they are dumping their gear.
So a guy with big farm and low power just smiles.
I can only hang in and still mine at this due to having solar power deals in my state of NJ (a very good solar power state)
I have access to "free" power basically I put up gear and split the coins.
so if I put up 10 s9's I get the hash from 5 s9's and the solar guy gets the hash from the other 5.
5 s9s = 70th and earn 321 a month so in 7 months I get 2200 which is roi for them.
My issue is the solar I have access to is about 55kwatts or about 560th I am capped at this for now.
so I get 280th a month or 1240
the solar guy gets 280th a month. btc diff is flatlined for now. as I predicated in this thread
https://bitcointalksearch.org/topic/will-btc-difficulty-go-sideways-for-rest-of-the-year-5043713
on oct 4th 2018
https://bitcoinwisdom.com/bitcoin/difficulty
Oct 04 2018 7,454,968,648,263 4.23% 53,364,744,228 GH/s
Feb 10 2019 6,061,518,831,027 4.25% 43,390,041,906 GH/s
I'm guessing these Chinese miners have free electricity from the government and they have upgraded gear that isn't even on the market yet. Like even with these low prices difficulty hasn't really even gone down, this is insane.
Do yourself a favor and get out whilst you still have the shirt on your back. Don’t do what I did and think the little guy will be able to compete. I’m almost certain there is far more lucrative ventures now than this. Reality of it is your going to have to dig deep regroup and start something new. I moved into cell phone/tablet repair. And my busn partner is pushing hard on getting a screen printing/embroidery busn off the ground. Well we both are when I’m not busy fixing phones. Trust me if you have a setup that bets that amount of change then you have the wherewithal to move into something that will benefit you and society. This turned into a playground for the rich. I just as soon shit on my trezor. Parden my language.
Br
Br
So depressing, I used to make around $300 a day but now I'm down to like $70 a day. Probably won't even be able to live off this anymore and I have bills to pay.
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