Nobody likes common sense when it comes to making that easy money lol. What you have here is a bunch of salesman trying to sell equipment to each other. A sort of circle jerk if you will. Its a huge elephant in the room but they seem to be in denial as of yet. Some think FPGA goin to save them. Lmao again. Cant see the forest through the trees around here anymore. Mining for the little man is over. Decentralization is over. The networks are largely controlled by bitmain. Its really a joke but so many have so much time invested they hate to say its failed on the decentralization front. Which by all accords means its failed to some degree. Bitcoin strength was that it couldnt be controlled. Be very very very careful. If people really cared whether or not its decentralized then price should be next to zero since most coins are bitmain controlled. But hell we use fiat everyday with no cares to how its created from thin air so why should I think that most give two shits about decentralization. Its just a big joke anymore. Everyone in this forum has gotten too soft. Too easily manipulated by easy money. Its a damn shame.
BR
I gotta admit I completely agree with this. Mining is no longer profitable for the small guy, or even a mid size farm. You are buying equipment that is priced for a 5-6 month roi. But you see the illusion is that it will ROI. They are flooding the market so your share of the pie shrinks every day, week, month.
Take a look at ltc difficulty, 109 percent up in 90 days, btc difficulty up 44 percent
If bitmain is selling asics at the price of 109 dollars you can rest assured the cost of making them has got to be in the 50 dollars range because of economies of scale. So yes mining is not a profitable venture, but try telling that to the average guy or most of the people on this forum who fire up a calculator and see PROFIT per MONTH and think they should multiply it by 12.
Its a long con, slowly bleeding your money dry. And the funny part is as a miner you have to sell your crypto to pay for REAL WORLD costs. You get taxed on the mining, you lose the crypto because you have to convert it to cash to pay your electricity, and then youre just left holding the bag.
If people were truly smart about this they would realize that historically HODLing the coin has proven to be multitudes more profitable than buying any type of equipment with crypto. I mad the unfortunate mistake of buying L3+ for 50 ltc.
Mining is a mirage but try telling that to people who constantly buy from bitmain. But hey DONT FORGET new equiptment coming out!!!!
Oh whats that you were quick and bought the first batch? Good for you!!!
2 weeks later bitmain has slashed prices in half and is offering rebates, I mean look at the number of coupons available on here. The reason for these coupons is because people GOT SCREWED and bitmain tried to lure them back in to SCREW EM again. Its like an expensive hooker that nickel and dimes you everytime but you give up the cash because well she's so damn fine.