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Mining is dead... long live mining!

M

mkrohn

2[H]4U
Joined
Apr 30, 2012
Messages
2,345
Seems mining is picking back up!

I only got rid of a SINGLE Asus 290 and that was in a trade for a bunch of stuff being used every day. Time to hitup sunnyd to plug back in?
 
Judging by all of the recent news, and the mass hardware sell off that continues, I would say mining is still in a downward spiral.

But it has had many up and downs over time. But I don't think there is any reason to think its back on the uphill swing yet.

Crypto has lost most of its credibility IMO in the last few months.
 
jmilcher said:
Judging by all of the recent news, and the mass hardware sell off that continues, I would say mining is still in a downward spiral.

But it has had many up and downs over time. But I don't think there is any reason to think its back on the uphill swing yet.

Crypto has lost most of its credibility IMO in the last few months.
Click to expand...

It had credibility before? Everyone has always treated me like I'm silly since 2011. It hasn't changed recently and won't change for the foreseeable future.
 
Fact of the matter is the guys *everyone* thought were crazy are now driving Lambo's bought with what amounts to 30 dollars worth of electricity. (long term holders/believers specifically)

Or the guys that were able to successfully navigate the bubbles -- for just a few clicks of the mouse and waiting patiently they made hundreds of thousands of dollars.

I think the problem is (and this is true for more than just crypto) people, (and I'm specifically referring to the average person) can't easily understand something they can't see. Explain bitcoin/quantum physics/or any fairly complex piece of code to joe-six-pack and all you are going to get is a "huh -- can I watch nascar with it?"

I'm not one of the guys getting mega rich -- but I've made money :)

Funny thing is -- think of the average person, then realize that 50% of the population are dumber than they are. Was it carlin that said that? Either way - it's hilarious and true.
 
jmilcher said:
Judging by all of the recent news, and the mass hardware sell off that continues, I would say mining is still in a downward spiral.
Click to expand...

Judging by the history of your posts on the crypto subforum, and the current continuation of that history, I would say this post is a tremendous surprise.
 
Wouldnt surprise me if it makes a comeback. It wasnt that long ago, maybe 2 years, that mining was all the rage and prices on my 5870 soared to higher than they were when they were new. Then it completely collapsed. Whadya know a couple years later it was all the rage and now its on a downturn. So yeah, I dont think its gone forever and I wont be surprised if a year or two from now if it gets hot again.
 
I believe that GPU mining is here to stay, but the problem is there are so many non-scrypt coins out there already and none of them really have a blatantly huge following so it's hard to tell where we're going from here.
 
nightwalker said:
I believe that GPU mining is here to stay, but the problem is there are so many non-scrypt coins out there already and none of them really have a blatantly huge following so it's hard to tell where we're going from here.
Click to expand...

The same place we are at now. We are heading into a market saturated with shit coins only "with a new algorithm". Yay. Same shit, different pile.

It's times like this that I cheer for the existence of multipools.
 
Carbon_Rod said:
The same place we are at now. We are heading into a market saturated with shit coins only "with a new algorithm". Yay. Same shit, different pile.

It's times like this that I cheer for the existence of multipools.
Click to expand...

The only good thing I see is there's a lot fewer nonstandard scrypt shitcoins than bog scrypt shitcoins. Kinda hoping having more than one algo will somewhat limit the proliferation of alt-algo shitcoins, but not at all confident that won't happen.
 
alt-coins are the way of linux, as i just noted in another thread, everyone and their mother thinks they can come up with a better coin..

95% of these alt-coins need to die and focus be put on a few.
 
It was never "dead", just very marginal profits at best. Now that all of the small-time miners got scared off things have stabilized out and we're seeing a little rebound bubble driven by anyone with the resources to stay in. Will we see December again? Probably not. At least not for a long time until something new comes along.

If the asics pile on, December won't happen for another couple years until a new algo comes along to become the cat's meow.
 
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