Quote from: stompix on February 09, 2018, 08:45:36 PM

Quote from: Sandal_Hat on February 09, 2018, 06:06:19 PM

I am not protecting my income. I am being realistic. It is either a certain amount of miners function and some profit can be made OR there are too many miners and 80-100% of miners dont break even. This happens in all oversupplied markets. If there is oversupply, new miners will just not break even. An OPEC for miners would make sense. And it is not just OPEC. There are many other organizations that do similar things to have a market make sense...on things like control catch rates in the sea to prevent overfishing from killing fish populations. This is despite fisherman wanting to catch more to earn more, etc. There is even a federation for maple syrup lol. And imo, organizations like OPEC are kinda needed to ensure that oil is properly supplied to the world. They need to calculate how much to invest in infrastructure because it take a year before any new oil actually comes online...etc.

Check out dash mining now. There are too many ASICS and in general, no dash miner can profit. There is a 5k+ usd miner that makes 200-300 usd or a 1.4k miner that makes 25-100 usd a month. If price does not increase drastically, all miners will not not break even. There is no guarantee dash will rise. Dash difficulty has been DROPPING as it is https://www.coinwarz.com/difficulty-charts/dash-difficulty-chart because it is not profitable for some miners to run them when dash is at this low price. The difficulty will rise and miners will come back online if dash price rise later.
Too many asics on btc and it will be just like dash mining. U yourself wouldnt want to go into mining today and if it can never break even...

Look at current rates. With an S9, u can get 250 USD monthly if u have 0.05 USD electricity (a super cheap rate which most people dont have), and it cost 2,320 USD. That means 9+ months to break even, assuming rate remains the same, and this is without shipping and VAT cost yet. It will in general take 10-12 months with that and longer if u have higher electricity cost. U only get 6 months warranty, so, the other 3-6 months are at your own risk.

This is for those who ordered the machines 2 months ago, and these people ordered because they saw the profit rate at around 1000 usd per month. Btc has halved but mining profit has gone down 4 times due to difficulty increase. Thats a major difference in juz 2 months. There are stronger machines coming out this year from canaan and avalon, and greater interest in mining due to media coverage. Thus, the difficulty spike should get worse. There are even idiots rushing to get into kodak's horrible mining contract.... due to media coverage and cryptomania.

Look man, satire illustration - we can have 400,000 happy miners that make some profit by taking some risk or 800,000 grumpy angry miners who will never break even, be sad daily, and will regret the day they ever lay a hand on a miner.

At least be honest about it, you mine and you're afraid you won't even get your ROI.
Don't try to hide it , common, one look at your post history and it's pretty much telling the whole story.

Bottom line as I won't discuss it again.
Nobody gives a damn about the miners being happy or not happy. Nobody!
If BTC would have been built as a PoS "you" wouldn't even exist.

It's not the number of mining gear that is setting the balance.
It's the price. If BTC goes down to 100, what are we going to do to keep you guys happy?
Start with the Roman decimation , every 1 miner in 10 has to burn his gear?

Quote

Btc has halved but mining profit has gone down 4 times due to difficulty increase. Thats a major difference in juz 2 months.

Should we compare price /difficulty to January 2017?

Dude, I never tried to hide. I wrote in other topics also that I am mining. Thank god I have alot more S9 and L3s lol and I bought all my S9s at the lower 1.4-1.6k price and I have been mining for awhile in the better months.

Every miner gives a damn actually. And that includes new-wannabe-miners such as yourself. Nobody would want a miner that cant break even especially when the ROI looked so good just before u make that purchase. It is better u dont waste your money. Unfortunately, for those who ordered miners 2 months ago where mining profits are at an all time high, some may not break even if their machine breaks just after the 6month warranty period.

If btc is built on POS, I would have more btc and no miners lol. No point comparing 2017 because bitcoin price mooned 15-20x in 2017. That is unlikely to happen this year and impossible to happen yearly....mkt cap would be insane then. If price goes to 100, everyone loses. More manufacturers wont be good, that would mean difficulty jumping more every 2 months because more miners arrive. Samsung will probably lose money when they come in here unless there is major increase in btc price suddenly. But this sort of venture is a small loss to them and they can take it.

Btw, free market is silly here. And even YOUR OWN USA laws has catch limits on fishing because there is only so much that can be earned from fishing and overfishing kills all profits pretty quickly. Same for mining, there is only so much to be earned. The only difference is the lead time before shit-hits-the-fan is longer in fishing than mining. Same for OPEC where they need to cut/increase production in advance because new production takes like a year to come online. U dont want oil to go up and down by 100 dollars per barrel a year lol...and throw things into chaos. Thus, people plan in advance.