Wil Bitcoin Mining be worth it after the halving to 12.5?

philipma1957

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Quote from: 5h4do3 on July 08, 2016, 02:47:38 AM

Quote from: Xircom on July 06, 2016, 04:56:20 PM

I see a few knowing what mining is all about and a lot knowing jack about the BTC mining scene.
The halving will have no effect what so ever and price will settle for some time in the range of 500-550$ before a new hype will push the price up to 800-1000$ each.
There is western countries who pays less than 0,05 cents and they will keep expanding the farms.
Its a gambling and noboddy will ever know the real future, but after Ethereums disaster we will see BTC make a hughe jump ahead of any other coins.
Its not for fun that, Microsoft, Ebay, Amazon, Dell and other big players are adopting BTC....its here to stay and so is mining.

well said.

Put it this way if you want to mine its all about electricity price... hence why you hear solar, hydro power its all about the price... where I am S7 will still be profitable after the halving at the current btc of $640
and will stay profitable for another 2 years if btc stays around 640... yes even with network difficulty jumps.

do your math but $0.17 you out of the game already unless you invest and go solar.... $0.05- $0.08 you in the game but you will still have to transition to alternative power preferably your own solar setup which has a life span of about 20 years... so there ya go..

okay at

ten cents at 3% diff jumps the s-7 loses out in 75 days after the jump earns about 0.02432 btc after ½ ing
nine cents at 3% diff jumps the s-7 loses out in 119 days after the jumps earns about 0.06782 btc after ½ ing
eight cents at 3% diff jumps the s-7 lose out in 175 days after the jump earns about 0.1362 btc after ½ ing
seven cents at 3% diff jumps the s-7 lose out in 230 days after the jump earns about 0.2325 btc after ½ ing
six cents at 3 % diff jumps the s-7 lose out on 299 days after the jump earns about 0.3607 btc after the ½ ing
five cents 395 days .5255btc
four cents 492 days .7369 btc

so what you got 3 cent power?

5h4do3

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Quote from: Xircom on July 06, 2016, 04:56:20 PM

I see a few knowing what mining is all about and a lot knowing jack about the BTC mining scene.
The halving will have no effect what so ever and price will settle for some time in the range of 500-550$ before a new hype will push the price up to 800-1000$ each.
There is western countries who pays less than 0,05 cents and they will keep expanding the farms.
Its a gambling and noboddy will ever know the real future, but after Ethereums disaster we will see BTC make a hughe jump ahead of any other coins.
Its not for fun that, Microsoft, Ebay, Amazon, Dell and other big players are adopting BTC....its here to stay and so is mining.

well said.

Put it this way if you want to mine its all about electricity price... hence why you hear solar, hydro power its all about the price... where I am S7 will still be profitable after the halving at the current btc of $640
and will stay profitable for another 2 years if btc stays around 640... yes even with network difficulty jumps.

do your math but $0.17 you out of the game already unless you invest and go solar.... $0.05- $0.08 you in the game but you will still have to transition to alternative power preferably your own solar setup which has a life span of about 20 years... so there ya go..

Xircom

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I see a few knowing what mining is all about and a lot knowing jack about the BTC mining scene.
The halving will have no effect what so ever and price will settle for some time in the range of 500-550$ before a new hype will push the price up to 800-1000$ each.
There is western countries who pays less than 0,05 cents and they will keep expanding the farms.
Its a gambling and noboddy will ever know the real future, but after Ethereums disaster we will see BTC make a hughe jump ahead of any other coins.
Its not for fun that, Microsoft, Ebay, Amazon, Dell and other big players are adopting BTC....its here to stay and so is mining.

Getcoinsite

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Quote from: Btcvilla on June 18, 2016, 07:31:27 PM

If you move to a place with hydroelectric power, and set up a huge farm, then yes, it will be.

It depends on the total cost of mining. This includes the electricity price, building, labour and machine price.

krishna1

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According to me Bitcoin mining is not profitable after mining Because the block reward would remain half and it not gives you more profit. So I suggest you to Don't try out Mining after Halving.....

JPage

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Quote from: liveflipcoin on June 18, 2016, 06:17:19 PM

Wow just called PG&E Shocked

With the current tier plan I am currently on it would cost me about $786.40 to run two S7's 24hrs a day for 1 month.

2800 watts (2 Antminer S7's)

Tier 1 is actually 0.18 cents
Tier 2&3 is 0.22 cents
Tier 4 is 0.34 cents

Does this mean NO ONE in California mines at home?

This is correct. I was mining in Las Vegas, only paying 10 cents. That became unprofitable a long time ago. You must now be stealing electricity or somehow paying about 3 - 6 cents. Except for stealing electricity and some very special places having super cheap electricity, there is absolutely no way to mine profitably. Mining is all finished. Even very sophisticated miners like KnC who burned up $32 million failed. They know a thing or two of mining. So, only china can do it with a profit.

Enotche

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The difficulty does not affect the cost, on the contrary, investors buy cryptocurrency, miners include miners saw that there was a margin, the price drops, miners turned off. Do not confuse cause and effect. Rather, in the run-up to Halving reward for mining investors probably push the price up to a network opportunity does not fall heavily when Halving happen.

liveflipcoin

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Quote from: liveflipcoin on June 20, 2016, 04:48:26 PM

Quote from: liveflipcoin on June 20, 2016, 04:41:27 PM

Will an s7 work on my outlets? I am new to all this electrical stuff, but with the S7 using power consumption of 2850 watts total (2 S7 Antminers) and my outlets are at 120v/240v then I shiuld be ok right? Here is the pic of my electrical box

Would I be able to use both if I use the outlet for the kitchen stove instead of the outlets in my room? What are the 15,20,, and 30 numbers mean? Do they hold more watts the higher the number? What is the watt or volt limit for 15, 20, and 30? Thanks

Can someone please look at the links above to see if I can safely run 2 S7 Antminer's please? Thank you

salmanahmedone

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Quote from: Btcvilla on June 18, 2016, 07:31:27 PM

If you move to a place with hydroelectric power, and set up a huge farm, then yes, it will be.

Mining will only be worth and limited to a very few people who have high plants of electricity and setups. Ordinary persons will have no power tp solve such difficulty with his limited supply and setup.

pereira4

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It's always the same reply: You have to do the mathematical equation that will tell you if Bitcoin is worth mining for you in your situation. Not everyone has the same expenses for their electricity bill and not everyone has the same hashing power. There will always be people finding profit in mining Bitcoin.

liveflipcoin

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Quote from: liveflipcoin on June 20, 2016, 04:41:27 PM

Will an s7 work on my outlets? I am new to all this electrical stuff, but with the S7 using power consumption of 2850 watts total (2 S7 Antminers) and my outlets are at 120v/240v then I shiuld be ok right? Here is the pic of my electrical box

Would I be able to use both if I use the outlet for the kitchen stove instead of the outlets in my room? What are the 15,20,, and 30 numbers mean? Do they hold more watts the higher the number? What is the watt or volt limit for 15, 20, and 30? Thanks

greatr

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Quote from: Btcvilla on June 18, 2016, 07:31:27 PM

If you move to a place with hydroelectric power, and set up a huge farm, then yes, it will be.

not only in this way in my opinion it will definitely be profitable in the future in my opinion

people ar ebuying and pushing the price up now, thats what will make the miners being profitable at mining, the price went up 2 times or even more and the halving will cut the reward twice, theres nothing to worry about

liveflipcoin

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Will an s7 work on my outlets? I am new to all this electrical stuff, but with the S7 using power consumption of 2850 watts total (2 S7 Antminers) and my outlets are at 120v/240v then I shiuld be ok right? Here is the pic of my electrical box

DoublerHunter

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Quote from: 0day on June 18, 2016, 06:59:56 PM

I think after halving it will not be bad to continue mining as the price of bitcoin would be increasedto a higher value so the miners can sell their coins at a price the same as a few months ago.

Yeah it always profitable because the price is continue rising and i think that even though the mining difficulty will increase it's still profitable because if they hold their coins for few more years i think that big miners can make $$$$$ or more because it depends on how many coins they save.

hermanhs09

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Well, I don't think that mining bitcoins has ever been that profitable unless you're talking about the earlier days. However, that would have only been profitable if they held onto their coins.

I suggest you mine coins, speculate on BTC price and sell when it's high. Good luck.

Enotche

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Some argue that the miners do not necessarily lose 50% of their income just because their income will drop by half. The argument is that given the prevailing constant demand for bitcoin, which causes the price to rise.
For example, if the miners gave all earned 25 per bitcoin block to pay their bills, they would have occurred 25 new bitcoin introduction into circulation of about every ten minutes (depending on the changes in the network).
If the price remains unchanged at $ 750 even taking into account these new bitcoin extracted, it will mean that the demand will be $ 18,750.
If the number of available bitcoin issued every ten minutes should have fallen by half to 12.5 of BTC, the price of bitcoin have to rise to compensate for the $ 18,750 demand. Thus, if the compensation will be reduced from 25 to 12.5 bitcoin, you should not think that the income in dollars will decline as well.

Whosdaddy

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Quote from: liveflipcoin on June 18, 2016, 01:21:20 PM

I was doing some calculations and found that after the halving to 12.5, mining will become unprofitable if running two Antminer S7's with a combined GH/s of 9460GH, with 2460 Watts total (2 AntminerS7's and 2 PSU's 1600)and electricity cost of on average $0.17 cents/kwh running for 30 days. Am I doing something wrong here in my calculations? Did I add up the watt total correctly (2 S7's + 2 PSU 1600= 2460watts?) Would I have to hope and pray that the value of BTC go over $1000 to even make any type of profit? thanks

Yes I think it would be profitable because bitcoin price will be increased more than 3x. If 2 month before mining was profitable then halving time also will be profitable.
In my country cost of electricity on average $0.05 cents/kWh. So here too must be profitable with respect to new bitcoin price and 12.5BTC block reward.

serjent05

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Quote from: Cyaren on June 19, 2016, 01:27:03 AM

I'm pretty sure that mining has been unprofitable for a long time now, with the difficulty increasing to an extreme rate. However it'll really depend on the price of BTC after the halving, which I think is going to skyrocket.

It could be profitable.

I agree, bitcoin mining has nothing to do with halving, people mine bitcoin because of Bitcoin price. In the same scenario where Bitcoin block reward is 50 BTC and price per bitcoin is less than 1 USD, would you prefer to mine it? Or would you prefer to mine Bitcoin where reward is only 12.5 and the price is above 1000 usd? I bet you would choose the latter.

Cyaren

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I'm pretty sure that mining has been unprofitable for a long time now, with the difficulty increasing to an extreme rate. However it'll really depend on the price of BTC after the halving, which I think is going to skyrocket.

It could be profitable.

Sled

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Quote from: zeaderza on June 18, 2016, 01:54:46 PM

Bitcoin mining will worth because bitcoin price will be higher and miners will cover the cost of electricity and price of hardware .

Yes because the bitcoin price is continue rising i also think that it is still worth it to mine bitcoins even though that the block reward will be 12.5 from 25. Joining mining pools can also help us to maintain bitcoin mining as a profitable way.

Topic: Wil Bitcoin Mining be worth it after the halving to 12.5? (Read 2598 times)