Quote from: grinbuck on August 30, 2018, 09:19:57 PM

Quote from: stomachgrowls on August 30, 2018, 07:57:12 PM

Quote from: RentGPU on August 30, 2018, 11:04:09 AM

Yea, you should invest all your money on mining equipment because it's very profitable now and the difficulty is very low , it's a good time to jump in , i just gave you what you want to hear , go a head do what you want to do don't ask here because ppl here will say the truth not the lies you would like to hear.
I see ppl like you losing money everyday because they just want to do what they want to do without listening even if they pretend they are listening
Good luck

On most cases this would really be the insight of OP itself which he do really expect to have positive feedback on what hes trying to invest on here. Capital? It is indeed enough to start your own mining rig but profitability wise? Then most of us do have knowledge will have the same opinion and feedbacks which is "Non-profitable" nowadays and basing on the rent plus its current electricity cost then he would able to find out that hes totally wasting up his own time.

Without going into any altercations or arguments, I'd like to respectfully understand more about why everyone here is against mining.

1) Profitability is down right now yes... but as long as you have a little less than $0.10/KWh electricity rate, as of now it's profitable to mine - even if only by a small margin. (Z9 and their variants are an exception). If you're operating as a business, you'd likely be eligible for various deductions that improve your bottom line. This is the current scenario.
2) Difficulty increases for everyone. Constantly. That's a fact. No arguments here. Over time the number of coins you mine will reduce.
3) I'm bullish on crypto.
4) I can afford to hold the coins I mine. i.e. I can pay for the power I use for the foreseeable future (1 year) without selling any of my holding.
5) If the crypto market collapses, I shut down my business. Declare bankruptcy. That's not a scenario I'm willing to entertain. Every business has risks. I'm in this because I expect the market to rise.
6) If the market rises, despite the lower number of coins mined, I will probably still be profitable. Plus the coins I've mined earlier and held on to at a lower difficulty will add to my bottomline.
7) If I have an intelligent split (50-50 in my case) between mining and buying coins - I'm at a win-win given the above information - the market recovers and I make a win on my investment. Mining profitability resumes and I make a win on the coins mined WITH future income intact because no matter how little I mine, mining can only survive so long as there is some monetary benefit to mining. Therefore total hashrate will reduce when losses increase significantly (kind of what's happening with litecoin now). I also have a cushion since a lot of places in the world have a much higher electricity rate than me.
Cool

I have the equipment to sell - wont get too much for asics, more for gpu's. But point is that as long as I can keep reinvesting profits and upgrading constantly, a point will come when I'll be able to pay for equipment with previously earned profit. So mining as a business, given some common sense should pay off in the long run.

Sorry for the numbered list. Just jotted them down as they struck me.

Constructive feedback anyone?

Understand those points though even most of people here do talk about non-profitability but since its your money to invest on then we cant do anything about it.We are just giving our own insights and views on whats currently happening on the market.If you do really have the passion and dedication to mine something then so be it as long you are aware on the potential risk then it should be fine. Wink