Re: Has Anyone Been Successful Mining BitCoins? If So, What Have You Done?
CPU mining back in 2010: profitable (in retrospect), investments were zero and only cost was electricity
GPU mining in 2010/2011: hugely profitable in the beginning, was mining directly with 2 AMD gaming cards i had, so again no investments and only cost was electricity
ASIC mining in 2014: with Antminer S1: marginally profitable (0.5 BTC per miner after electricity costs)
So yes I made money, but only because I was lucky to stumble upon bitcoin in the very beginning and invested 2 months CPU and 3 months GPU time (instead of running BOINC).
At this date I do not see how you can make money mining unless you design/produce/sell a nextgen mining asic or scale up in size (>100k in mining equipment).
GPU mining in 2010/2011: hugely profitable in the beginning, was mining directly with 2 AMD gaming cards i had, so again no investments and only cost was electricity
ASIC mining in 2014: with Antminer S1: marginally profitable (0.5 BTC per miner after electricity costs)
So yes I made money, but only because I was lucky to stumble upon bitcoin in the very beginning and invested 2 months CPU and 3 months GPU time (instead of running BOINC).
At this date I do not see how you can make money mining unless you design/produce/sell a nextgen mining asic or scale up in size (>100k in mining equipment).
I have almost the exact same story. Interestingly enough, most likely the electricity cost of running those GPU's in 2010/2011 could have been better invested in buying and holding bitcoin. You could buy a BTC for $6 pretty easy back then. My huge profit from GPU mining is mostly just from holding the BTC for that long. Of course half of my gains got goxxed, because I wasn't paying attention.
But at least it was only half 