Quote:
Originally Posted by rowan
This. Electricity cost isn't the only factor here. Miners are competing for a limited resource, with a total of 3600 BTC (soon to be 1800 BTC) able to be mined globally each day.
It's an arms race. Your brand new bleeding edge miner will probably be obsoleted in a couple of months by something faster, which grabs more of those limited BTC, AND pushes up difficulty, which cuts into your potential earnings. It's possible in some cases that your brand new miner may not mine enough BTC to cover its original purchase price... even if you had 100% free electricity.
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It seems to me that must be what is dissuading the common every day idiot from mining
Hell, it worked on me, that's for sure
As an individual,
You have to have very cheap or free power, you have to hope for a stable price, you have to hope for a lot of things , etc
If it were more likely for some asshole to run at least at some kind of profit I bet the states would be a much bigger piece of the charts . individuals add up!