Mining dash no longer profitable??

Santiago Ponte

New Member
Nov 8, 2017
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As you have seen difficulty has spiked 5 times in the last 2 months and I Antminer D3 is generating less than 6 usd a day. This is much less than Antminer l3+ that generates usd 20 a day.

I want to post this because I believe somehting has to be done to lower difficulty or miners will mine other coins and the network will run out of miners.

What do you guys think?
 

Vedran Yoweri

Active Member
Apr 29, 2015
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I don't think you understand POW and blockchain very much.
I believe somehting has to be done to lower difficulty
This is exactly what the protocol is doing.
miners will mine other coins and the network will run out of miners
some miners will stop mining, this will lower the difficulty and the profits will rise.
This is part of the genius invention satoshi gave us.
 

Thomas N.

New Member
Nov 11, 2017
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I understand that but it is stuck in that difficulty and miners are not pulling back. I hope they
From my point of understanding, the difficulty will only go up - and no way back. So the only thing that can rescue is a higher value of the product (Dash). Or maybe a new coin from Dash like you can see it on Bitcoin with Bitcoin Cash...
 

stan.distortion

Well-known Member
Oct 30, 2014
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Seriously? There have been several threads just like this started over the last few weeks I'm finding it hard to believe how many people seem to have investing big bucks in mining hardware with no idea of how mining works. Did they all see an ad saying "buy this, it'll give you free money" and click "buy" without a moments research? Folks mine a coin when it's profitable to mine and stop mining when it's unprofitable, that's set by the difficulty which automatically adjusts to maintain the block interval, how hard is that to understand? Christ, how many more are going to come on crying it's unprofitable at the mo and demanding Dash does something to make it profitable for them? That's the way mining works ffs.
 
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Eshank

New Member
Dec 4, 2017
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Have I understood this correctly ?

Bitcoin 2x uses the X11 algorithm, so we can all stop mining Dash and switch to Bitcoin2x ??

Am I right or am I wrong ?
 

Thomas N.

New Member
Nov 11, 2017
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Have I understood this correctly ?

Bitcoin 2x uses the X11 algorithm, so we can all stop mining Dash and switch to Bitcoin2x ??

Am I right or am I wrong ?
I have not heared anything like this, please tell me where you get the information from that 2x is based on x11 algo?
 

arjunyg

New Member
Dec 23, 2017
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San Francisco Area
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Xmh1o91muC3bVuGB6zBRSsyYeRi6sYVJYy
I have to agree with stan.distortion here. It is incredible how little people understand something that they are dumping thousands of dollars into. The value of the currency is directly tied to the profitability of mining and therefore whether people enter or leave the mining market. As hash power goes up, difficulty goes up, and rewards go down. If this forces some miners with high electricity costs out of the market, then sucks to be them. This is how virtually all Proof-of-work blockchain cryptocurrencies work. Dash will not fail if a couple miners leave the market, because the difficulty simply adjusts downward.

The only way to be seriously profit in the mining business is to have dirt cheap electricity and/or to get into the next hardware generation before anyone else can (eg. like Butterfly Labs used pre-order funds to fabricate hundreds of SHA256d ASICs before they were publicly available, and then used them to mine for a couple months before shipping them to their customers...illegal, but effective). Both of these methods ensure that your hash power is cheaper than the vast majority of the network's hash power, which makes you more profitable than average, and hence you turn a profit. If you are only at an average profitability, you will never turn a profit, because more and more people pile in hash power at average profitability until it no longer turns a profit.

Btw, Dash would fail if they started handing out buckets of Dash to whiny miners who didn't understand what they were doing when they dropped a truckload of cash on some Asic miners that would be obsolete in 3 months. That would be called inflation, and would drive your profitability down as well, not to mention the value of everyone else's Dash.
 

arjunyg

New Member
Dec 23, 2017
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Xmh1o91muC3bVuGB6zBRSsyYeRi6sYVJYy
[email protected], so what's the best miner to go for that would probably last very long before becoming obsolete
There probably isn’t a particular best one that I could guarantee any reasonable degree of security with IMO, or I would be pouring my money into mining. The only quality worth looking at for long-term viability is hashes/watt, because this will improve over time (due to technological advancement) making your miners less profitable compared to new ones.

If you really want to get a profit out of mining you basically need to have a buttload of money, and then develop your own mining hardware which is an order of magnitude more power efficient than the generally available hardware. Then you have to hope no one else develops similar hardware and sells it to the public. Not really that viable of a strategy either....