Crypto Currency GPU Mining Dead?
Have you heard about Crypto Currency Mining and want to get on the action and mine BitCoin, Litecoin, or one of the numerous other coins you've heard of? At this point dear reader my best advice would be to buy the coins directly. Given the rising mining difficulty and the ever-climbing scale of hardware, it’s no surprise that some miners simply can’t make a profit.
A long-running thread on Bitcoin Talk on the topic of shutting down received some recent activity, with several members telling their stories about how they manage to stay open – or finally close their doors and hang up the ASICs, as it were. Some users said that despite their best efforts, keeping the machinery running just didn’t keep up with the electrical costs.
The conversation focused, in part, on whether or not mining profitability for hobby-scale miners will continue. With margins as tight as they are, some users mused that they won’t be able to stay in business if the price of bitcoin continues to fluctuate in the $500-$600 range. Others said that they continue to mine even if they spend more on electricity than they make in bitcoin, citing the hope that the digital currency will grow rapidly in value in the months and years ahead.
One forum member commented that, in spite of shutting down, they didn’t have any bad feeling about their prior investments or the prospect of getting involved again one day.
“Have fun. It is for fun. I paid off the miners and then some with the earnings, and will see what happens to it. Maybe I will buy another miner or miners at some point.”