Topic: Will home mining become a myth in 2016 ? (Read 2655 times)

No... Many people still do it as a hobby.

I would not say no cost when it comes to miners even in cold.  I consider my self a hobby miner, and I can tell you it is not free my electricity is a good bill. 

I also have a mining area as it's much easier to do with more gear, instead of putting 1/2 in each room.  So I don't get heat unless I bring one in the house area.  Even then I'm still paying for the heat it makes.  Just makes it where heater can be lower.   

Far from free though.

I do not understand...
I can waiting the 10000 satoshi (almost 20000 now) and browing faucets...
I can not understand that here people believe always that it is impossible to do several things at the same time.
and mining has no real cost when it is cold...
it is the same with my aquariums...The electricity paid for heating the water heaths as well my room...

only option i see for home mining is what i already do with titans (ltc to btc)

supposedly 512mh units 1150w at 4950 (alcheminer II) say in 4-5 months...

but for that to work btc and ltc price will have to rise..then maybe you could home mine yet...but at 4950 bucks not sure

anyway what i've done ..mined ltc in 2015 at like 1.40 usd or so ....held it ....xfered it to btc when over 0.01 ltc to btc rinse/wash/repeat

nov 2013 titans (1 new 1 used) 2015.....still making at 3.20 usd per ltc 380 a month after electric ( i eat elec and hold)

anyway only way i see it working for a home miner ....scrypt to sha256 or in my case .... ltc to btc

I may or may not perish, it's what the market will decide in july.
Having some S7's, the current price makes it hard for me to keep on mining.

I do feel though we are in from a price rally in 2016, which could change a lot.
Because let's be honest. Bitcoin needs home miners to stay decentralized....

I think it will perish due to the costs incurred in home mining. Electricity, mentaince of manchines and  more

There is no point in mining such low amounts with any hardware because the mined amount will never be able to cover the electric costs.

Browsing a few faucets might get you 10000 satoshis faster than waiting for a payment from CKPool.

No...it's not a "lottery player" because I do not mine solo...I mine in pools.
I mine more for testing how the pools work.
Perhaps I will never see a single satotoshi from my mining in many pools...but it does not matter.

But I hope a payout from CKPool where I have "accumutated" more than 10000 satoshi now.
It is why I propose the "co-mining" service.

 That's not mining, that's barely even being a "lottery" player.

I think you are trying for posts possibly for sig campaign.  This post just really does not make sense read it, and it appears you have a TON of 1 liner posts.

Add to that the fact there is no S6... so fact's are wrong.  Post does not make sense.   I think you could have went without posting.

When the home miners are force to stop that day would be a black day for bitcoin. It's the home miners that keep bitcoin decentralized.
So far i still think the miners are able to mine with profit when the block halving will come in july.

My prediction is that home mining will be over after the block halving.
The new gear is getting more and more expensive these days

And then there is the fact the the difficulty is getting higher and higher.

I mine 100 to 300 satoshi per day in average...
if I only mine 50 to 100 it will not change much for my life (lol)

No it was a question/statement, meaning IF the current miners are not profitable anymore we will see the that home miners are forced to stop with bitcoin mining.
I know we will see next-generation miners in feb/march and this information applies to those batch of miners.

Who gave you info current miners are not profitable at .05?  I think you have some really bad info?

Did you calculate it or can you point to where it came from?  Current gen is still profitable unless crazy electricity.

It could be an utopia, if the current miners are not profitable at 0.05 per KWh.
0.05 Is very low, perhaps the lowest price for 99% of the miners. If they can't mine with profit, yeah it will be the end for home miners...

Let's hope it never comes to that.

You should not put all the balls into one court as each has its own colors...
Cloud mining is not a scam, I have tried many and only few proved to be good ones, but there are genuine sites paying for your money...
So, it's not a valid argument if you say all are scams...

@OP,
No, mining from home will still be profitable as technology is the name of upgrades, and we, the home miners will also be able to buy those hi-fi upgraded versions of these mining giants with which these farms are earning much more and taking the difficulty to the sky...

Look at hashnest for eample.  They are not all scams, but most are sadly.  But your right if you have a signature for one ... give it even more research.

But you really cannot lump them all into one.   Difficulty is still high but not as scary high as last week.

They might just end up mining altcoins for BTC. I do think this is profitable i saw some threads about this lately.


NOT CLOUD MINING! they are all scam not worth the try as you can't get your roi for a year. its a waste. forgive me for that i can see you have your couldmining in your signature but really, I've read enough already and I should say ALL are scam.

 Well for folk like me with big ass home asics (scrypt or sha-256) it kinda depends on electricity price..how low can you go.

I'm in Midwest USA..under Xcel Energy ( a multi-state electric utility) Look at the back of your Xcel bill if you have one (ask your own other util about this as well..they are NOT advertised) and  you will see a 'deep' discount if your electric is used as your primary mode of heating home

the thread below (story) shows how I fell into this with a customer rep on another manner and the Xcel customer rep toggled such as legit

even thou...I told her ..main reason for my 225 month elec increase from the previous year was due to 'server equip' in the basement

I offered to be around for an inspection (figure wtf they would go ..heh....nice try buddy and laugh) it never came to that just went thru

here is the link to the thread....post your results there ..with whoever your electric utility is...but it is the honest truth with my 2500 watts of miners in a 3 bedroom house w/o furnace use it is 68F and 62F 2nd floor and 64 upstairs.....so ..as I went thru this with the rep.....the MAJORITY of my heat is coming from electric (yeah I know going thru the titan scrypt miners first..but hey ....if that is the way the rep wanted to go with it I was not gonna argue)

anyway check it out was like 4.5c kwh or so savings or in my case 115 bucks a month ...add to the fact my monthly 'budget plan' gas heat bill went down 45 bucks a month..that is a savings of 160 bucks a month for 5 months (winter think it is 5 months almost) and the other 7 months 45 bucks savings

my point on posting to your thread here is I VERY WELL COULD HOME MINE WITH CURRENT OR USED EQUIP (at least scrypt maybe) due to the 'halving' of btc in 2016 and increase in price..in conjunction with the above program thru my electric utility!

I mean it went from 13.7c kwh  to 9.27c kwh.....


so anyway ....some of us with equip that has ROI'd already...(big ass scrypt etc) ....others with cheap electric like 5c kwh or below ..like in Oregon State....maybe a deal on some 'used equip (prob scrypt the way btc diff looks to go up) ....next fall...and viola ...

According to my figures if BTC was to hit say 500 usd..and LTC was to keep say around its historical 0.01 ltc to btc ratio ($5 say) ....I would be like at
120 bucks over electric ...with the above util trick ..next winter ...so what the hell

w/o the above decrease from 13.7c kwh to 9.27c kwh in the winter under a 'next year i plan to mine plan' I'd be like 60-80 bucks under ..what I spent on electric ...so would be a definate no go...and that was figuring that 'difficulty' for LTC doubled

anyway something to keep in mind .here is the link for those trying to still home mine ..my electric decrease story/whatever

https://bitcointalksearch.org/topic/m.13344012


worse that can happen is you keep your old electric rate in the winter..the hard part for me is say around april/may 2016 my price for electric goes back up
from 9.27c kwh to 13.7c kwh...that is gonna really really hurt...but again with the btc halving ..perhaps price of btc/ltc will come back big time...and a person could still be mining (at least in the winter) in the 2016-2017 winter season...

but likely only if i can stay in the above program mentioned in the link above I tripped over (again if you are Xcel Elec Utility customer it is listed on the back of the bill ....rate for if electric is your main source of heating......you just tell the rep such...if you have a well insulated house you probably are golden ..I have a large 3 bedroom worked for me

when the miners go away...i will simply tell them ..that it is now gas again (with a call) ..my only question is CAN I keep something going that makes sense (more crypto then elec spent) by next winter say

anyway ...was a big deal for me......check it out with your local electric utility and post your results in the above thread

so anyway home mining may be dead...but maybe with a bit of 'scampering' you can postpone it till 2017 ...er maybe?