Quote from: Puppet on June 22, 2014, 09:20:49 PM

Quote from: Freeside on June 22, 2014, 08:55:21 PM

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If its not possible (and please tell me if its not) then why is ANYONE still mining?

Because large operations have an electricity cost that is at least 5x lower than Cryptx. Because KnC, Cointerra, cex.io and several others dont buy their hardware at market rates, but produce them for a cost that is by my guess, around 1/10th of the market price, and get even that subsidized by retail customers paying far too high rates, like Cryptx . And because many are as clueless as you and will buy miners no matter what.
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All of the above, plus the ASIC lag--miners have pre-ordered the hardware looooong before starting to mine. When the hardware arrives, the only remaining option is to immediately toss it into the trash (total loss), or mine with it until (worth(coins mined)) becomes < (cost(electricity to mine those coins)).
Don't know why all the above isn't obvious.

inb4: "lol I sellz teh minerz!!1!"--not when everyone else is trying to do the same thing. Greater fools have dried up substantially. Still a few left, judging by this thread, but nowhere near enough to absorb this fail.

theMiracle

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