Topic: Will home mining become a myth in 2016 ? - page 2. (Read 2655 times)

with a thermoelectric device, you can convert at least one portion of your heat in power again, this way they should another plus on their already cheaper electricity

They are making so much they have a luxory as using it as waste.  They so far have not had to use heat for anything, and they remain profitable.

I don't think any of the mega farms will be switching over to using the heat anytime soon.  But I could be wrong on that.

For the mega farm to have every advantage they need to have a way to use the heat.

Many big farms have an issue with heat they treat it as a waste product.

The only thing is we have no idea what difficulty and value will be around having.    We have had a decent jump from 230 or so for longest time to current 450.  So we are experiencing a jump up in value.

One thing I need to know is value at having.  It is true these mega farms have every single advantage.  But I hope home miners with decent electricity can keep mining, I will do it until it's not feasible.

With current miners, home mining for a profit is pretty much dead unless you have crazy cheap electric.

 **HOWEVER**

 The 14/16nm full custom miner generation should be enough more efficient, and will STAY the "most efficient" long enough, that home mining should become viable again for many folks and we might even enter what will turn out to be the REAL golden age (or at least the silver age) of home mining around mid-2016.
 Having 3+ YEARS to turn a positive ROI on a miner is something that we've never seen before (with a few exceptions involving free or VERY VERY VERY cheap electric).


 Even the big farms with very very cheap electric are going to take a noticeable hit from the halfing - but the odds are good that most of those farm are already upgrading or have already upgraded their gear to newer efficient gear that will still be profitable after the halfing.

home mining is already a myth if you don't have the same electricity as there is in those big farm

those farms can sustain the halving, so with the same bills cost you would also

OP cloud mining website feels of sketchiness.  I can't even find a maintenance fee anywhere.

But no home mining won't die off anytime soon as long as we can still buy current miners.  A lot of home miners pay less in electric than any cloud mining or hosting service maintenance fee.  So in that respect the home miners can withstand a harder market than big guys who have employees to pay and building upkeep.

Every market has its ups/downs so I am finding some these recent mining defeatist posts kind of boring.

BTC will go up in value as the commerce options grow and the public awareness that follows.

Just the other day I was chuckling how recently black Friday is being greatly affected by Amazon.
I've been using their services for many years but the collective is just getting it now.... And when they get crypto independence I believe your position as a miner, transaction processor, alt coin trader, etc will be light years ahead of the oblivious greater collective.

One more thing.
I plan to mine for investing, not pay my immediate bills.
So I don't fret if xyz are petahash dominant. I fret if I can't get any coins.
Its the greater investments that take patience and accumulation.

Just some thoughts...

Trust me don't even waste your time.  When I had the Bit-X mining sig... he enjoyed bashing me over and over.  Ask him for hardware... he will give you a blockchain payment... that's it.  He removed sig for a bit I think trying to get rid of feedback, but added sig back.

Your advice on hashnest is pretty good...  

I still like to mine at home, as long as it's feasible I will keep doing it.

Profitable home mining may become a myth, but home mining won't die. If it did, Bitcoin would slowly die, since the real believers of Bitcoin are the home miners and hobbyists, students and researchers. These are the people that actually give Bitcoin value.

The farms in China and the investors behind them know very little about the bitcoin ecosystem by comparison, and they do things and act in a manner that is actually harmful to the future of bitcoin (decentralisation, SPV mining, mining empty blocks, pump and dump, monopoly of control of hardware, and harm to the environment, money laundering, ponzi schemes, and mining with customer pre-orders). They are very much in it for the short term, trying to milk as much money as possible from it so that they can divest into other technology areas once they have killed the bitcoin cow.

Home miners were mining before Bitcoin had any real value, and they will still be mining at crazy difficulty without any hope of profit provided the network is healthy. Home miners stopping in droves would be a very VERY bad sign, since it would mean that the people who understand the technology the most and are the most die hard supporters of Satoshi's vision, have lost faith in the network. That would be far far worse IMO than any crazy high difficulty level or electricity cost.

So should I spend btc on your cloud mining site in your signature?

Or should I cloud mine with hashnest?

Or should I host with lee's site in China?

I could always buy and hold coins.

Better yet I can mine in the winter this year with some s-7's and avalon 6's sell them in April and  and the hold coins. 

Then buy new gear in sept 2016 just in time for the fall of 2016 use the gear from  Oct to April sell it  and hold the coins.
Then buy new gear in Sept 2017 just in time for the fall of 2017 use the gear from Oct to April set it and hold the coins.

My point is there are many ways to play.  Home mining will not die in the winter months as the heat is a second value of mining.

Of course, it could be considered a myth right now, because it is almost impossible to even break even with the cost of the miner.

The way bitcoin difficulty is jumping up, do you think any new entrant will be able to mine profitably from home ?

https://bitcoinwisdom.com/bitcoin/difficulty

I think, mining will belong to server firms. People interested in mining would be forced to opt in cloud mining.