Quote from: lunobird on November 22, 2018, 05:22:35 AM

Quote from: abctoz on November 22, 2018, 05:04:08 AM

Quote from: lunobird on November 21, 2018, 06:37:31 PM

Ya miners are one tough sons of a b*tches group. Price of eth dumps 10x but hashrate only dumps 10 percent.

Mining will live on. Just everyone gets fractions of a peanut profits if any.

the vast majority of people who post here are hobby miners that control little of total hash, the big farms with near zero electricity cost control most of the hash and are still making profit, they will be the last ones standing.

there are also small miners with access to free power (usually at the expense of someone else) that will also survive, these guys can't scale tho

what separates this bull run with the last one is the industrialization of mining, i recall stories of farms buying gpu's by the plane load for example
you also have fpga/asics continuously improving

"Still making profit " is not enough to stay profitable. There are much bigger factors at play and not as simple as what most of you think. There is a lot that many of you have not accounted for or speak of much.

You still need to pay off equipment which is 3+ years and by then theirs better equipment you got to rebuy so your never making real profit. You end up with more oudated shovels.

Once you add IRS accounting that's pretty much nail in the coffin full loss. They want 1/3 of the profit the day you mined it. And if you didn't sell right away and the value dropped like it is now your at 6x loss deep in the hole with no way out but to sell all your mined coins at a full loss.

Im quite sure a lot if you were mining eth at $400 and higher and zcash at $200 and higher and still bag holding. Big mistake when doing your mining taxes

pretty sure most (early)farms would have ROI'd a many many times already in the bull run, and now its just pure profit. basically if you got in before 2018 you're break even or better, those late to the party... well their risk didn't pay off

i've also read of rumors of much more efficient ETH asics which Bitmain could already be running

my impression is most of the hash power is outside the US, in places like EU Russia China, could be wrong tho