Bitcoin Miners are F*CKED!
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- Опубликовано: 9 июл 2024
- Bitcoin miners are F*CKED seriously, if Bitcoin doesn't go up in price, when the Bitcoin halving happens, most BTC ASIC mining rigs will not be profitable, and depending on your electricity rate Bitcoin mining profitability is already in the dumps compared to last year.. Buy this miner instead of a BTC miner! voskco.in/tailsxch
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Over $20m in new Bitcoins are still mined everyday, but with the Bitcoin price under $30,000 and a BTC halving cutting the amount of Bitcoins mined per day in half less than a year away the future for Bitcoin miners is looking BAD! Bitcoin needs to triple in price for the average Bitcoin miners to turn a profit, some major Bitcoin mining farms are very competitive with cheap electricity rates but the game continues to change as the new Bitmain S21 bitcoin miner and Whatsminer M50 and M60s increase ASIC miner efficiency. All I am saying is beware and be aware.
⏰ Timestamps ⏰
00:00 This is going to be bad!
00:39 The miners I own
02:28 The Bitcoin halving of 2024
03:52 Situation of big Bitcoin mining farms
05:23 New Bitcoin miner is coming
06:12 How to buy a Bitcoin miner?
07:52 Which Bitcoin miners will survive the halving?
11:05 Bitcoin network hashrate analysis
12:44 My perspective on the Bitcoin halving
15:22 How will the Bitcoin halving affect me?
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Thanks to Hydra Chain for making today's video possible.
#bitcoin #btc #mining #voskcoin #miners #miner #miningfarm #passiveincome #halving #crypto #cryptocurrency 
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Seriously though, how does an average Bitcoin miner survive the Bitcoin halving?
If everyone miner has their earnings cut 50%, then the average btc miner still makes the same as everyone else did before the halving. If you were running right on the edge of profitability with razor thin margins you're out, just like any other monetary system, booms and busts, it's basically the same as raising interest rates and bankrupting businesses who didn't have the margins to sustain the debt. The perk here being those who can afford it probably haven't been selling btc and those who get cut, probably had to sell coin to maintain their operation. That is what triggers the liquidity crisis in bitcoin that acts as catalyst for the bull market. It's like pruning a tree to produce more fruit later.
Nodes can make $ats by running Lightning. Build your solar farm and reduce your electricity costs.
Those who are paying the top 50% highest power rates now... will exit BTC mining. For the rest paying the lower rates... the coin price won't increase much... but difficulty will drop to sustain them. However since difficulty only adjusts every 2 weeks... those remaining miners will have to coast through a couple month of low/no profits until their less-profitable peers give up.
Real question is what are you going to do with your evergreen hdd mining shed? Flexpool is shutting down. Evergreen miner exclusively mines using flex farmer.
Any video comin out on flexfarmer? About flex pool and evergreen?
Ethereum should never have stopped POW mining..
Cabal now owns ETH, its long given up on what it was founded on.
@ATomRileyA they crash btc before October 15th to gain control of mining of bitxoin.
I'll forever hate Vitalik for pulling that shit
I think it really screwed up the whole crypto industry.
@@ATomRileyA Spot on...
One thing to know is a lot of the big mining operations were about avoiding capital controls and getting their wealth out of the country, so the profit was not as important as getting a good chunk of your money converted into BTC rather than it being stuck in a bank.
Say your a billionaire but cant move you money but can buy or rent mining equipment instead it becomes a good way to at least get some of your money free of the banks.
Also most mining farms in china were hooked up to hydro dams so the electricity was pretty much free. Which makes it hard to compete.
just a head's up, been mining since 2014, and every time BTC splits in half, it all ways double's in price, just like last time it went to 60k..now it doesn't double the day it splits, it take's a couple of months. at least my thoughts
They do this to shake everyone out.
Nothing goes up forever, its not realistic model in long term. If you got early than you took opportunity to make money. Thats how crypto works, you early or dont bother.
@@lurker668 How is it "not realistic long term"?
Anything with increasing demand and decreasing supply will go up in value. Simple economics.
@@lurker668 I never said anything about it lasting for ever, all I said which is true, it doubles in price after it splits..nothing more or less,
So after the halving many miners either shut off and wait or close down forever, then the scarcity of miners squeezes the price higher and it starts all over again, it’s just how it is, the market dictates the price. Eventually there will only be fees to earn and no more rewards. Crypto mining requires lots of patience.
Thanks for the video!👍
Hats off, well done. This is great content!
I want to buy a miner! But would you suggest mining btc or kaspa? Taking the btc halving in consideration?
Does anyone know the source for the data displayed for mining farms profitabilty at 7:00?
what do you think is the best miner for the price for 120v 20amp, I have 2 outlets (40amp) ready for mining but need some suggestions, thanks. looking for something with low noise as this is going to be in my office.
You must have 220v
I mined with 8 S9's in 2018 I just broke even at the time. But as time goes on it's growing in value, and was fun buying and selling a BTC mine. I learned more than I could get at a University.
Imagine the efficiency and profitability of when that first quantum asic miner comes out.
lol@@BitcoinRichRick
I mined for years and i had to stop somewhere in the bear market when the war on Ukraine started and the price of electricity skyrocketed . In the bull market i made some serious money. There are multiple factors that decides if you going to profitable or not. The BTC price. energy price and of course difficulty but also how other miners are doing. I remember my miners did not find a block for a long period but then a few big miners went offline (maybe maintenance or moving to different location) every time that happened my luck went up and i found a block or sometimes more. I remember a friend said to me back then "we need to find a way to put them out of business" but the moment he said that i realized that those big miners prob were thinking the same and they put me out of business by becoming bigger (more equipment, more hash power) it's a war in the mining business
What software do you use manage your ASIC miners?
As someone who knew nothing about bitcoin mining, that was extremely edifying. Thank you and well done!
This is a really cool comment to get, thanks for sharing that and I’m happy to hear that!
@@VoskCoinim just here to know if BTC will die
15kW solar, 30kWh batteries and a 10+ year horizon is my plan. The summers are long here and there is endless amounts of excess energy that I wouldn't know what to do with if not for Bitcoin.
There is always a long game that comes into play when halving comes near. If no one makes money and they all drop out then it opens up for someone to make money. It's a flush or the weak hands us what it is. The big get bigger
Keep it going buddy!
keep crushing vosk
the more advanced hardware comes out the more difficulty goes up. simple as that. if the new version doubles the rate, its like 2 in one. so when these miners get new hardware its literally doubling the difficulty.
Yes, because rewards go to the one miner who actives blockchain validation. Only.
Drew, if you drill holes in the side of the fan housings it may reduce your fan noise. In the movie industry they put holes around the edge of the fan housing to get rid of fan turbulence, try it out and post what it went like.
What happened to the Vosk solar farm?
So Vosk, you mine alone as an individual? Or you cooperate with some companies? I mean these machines requires regular maintenance, starting from cleaning from dust till repair faulty boards, you do all of this alone?
can u share the link whre u got the mining farms revenues? thx
Good video, Vosk.
I currently only see one way to enter the race profitably: SOLAR!
I need around 200 kw/h per day and can achieve this in several expansion stages with a solar system with self-built storage (Prisma cells).
The solar prices here in Germany are currently a joke, a Trina 440 watt module costs around 100 dollars.
Do you have a lot of space with you? Why don't you just start and quickly become infected with green electricity.
It's a lot of fun and a perfect extension for mining.
The demand will stay the same or go up while the new supply will be halved.
Good job pimpin..
i'm only mining now for heat in winter and during solar power generation hours to eat up kw. the days of low kw hr rates are about over.
ever thought about solar and wind?to a point of course and maybe a baterry that allows to not draw until night electricity bill.
I haven't checked. But since you love on large site. If you supplemented your power usage with renewable engergy(solar + Battery) would that improve your ROI on an average?
Asking as I have solar and looking to start mining on a residential property as ROI on solar is going down with electricity providers.
He has plans to move into solar, but he wants to get all the mining infrastructure finished first
How much solar you talking as even a 20 KWh array would produce around 78 KWh daily averaged out annually. Divide that by 24 and it only zeros out 3256W worth of mining being roughly equal to a S19.
well that's amazing, that will pressure the price of BTChigher as miners won't be able to sell it for low at loss right?
One answer is to add Solar. I have 25KW Solar and it makes are real-difference in my cost per KWH
Yes but expanding on Solar too adequate needs to run 100+ ASICs is highly impractical, and in coming year unless you're running 10PHs you might as well quit. Especially as many of us are projecting deploying 200-400 S21 210-250THs units over next 24-36 months, and WE aren't even the big guys just medium sized private Miners. Big guys will deploy 1000's of them. Bitcoin Network will probably 3x-4x both hash & difficultly in next 3yrs, mind you "Entire Nations are Entering now" and they're on "Free Electricity" government subsidizes its own costs of energy with Tax Revenues basically.
Costs of a 5-10 ACRE Solar Field and the necessary batteries would be in the Multiples of Millions to build and ongoing replacement & maintenance would eat you alive.
Hydro is about the only solution for renewable or Flare gas "If" you can get a contract now that the Oil Companies themselves are Mining on it too...
@@anonamous8243 I agree, but I was basing it on his plans to deploy solar at the farm. Additionally, im not suggesting going 100% Solar (off-grid) for a mining farm, but to reduce the on-going (monthly) electric bill. With my 25KW I was able to reduce my electric rate from $0.15/KWh to $0.12/KWh. Adding solar can reduce is average rate as well, especially since he has the acreage to deploy a much larger Solar farm.
BTC mining is dead after a few more halvings. The system was never designed for everyone to be miners. The real question is, what happens after a few more halvings ?
It's the same thing every 4 years I wouldn't worry too much
I don't understand, at commercial level which you pretty much reach one turns off the machines and buy the coin when it is cheaper than electricity. It is not just the electricity but also the wear & tear.
When difficulty drops you should be all in on mining.
It’s all then Number go up factor…. I personally think that certain market makers are gaming the price discovery.
All I can afford is a s9. I just brought a my first miner l3. I have watched you grow. I understand the loss but I'm jumping in
How much solar panels would you need to run it 100% off that during the day hours? Is that even a viable solution?
About 10000 lol
I want to buy the Antminer S21 Hyd. Where can i buy it?
in about 6 to 9 months from now they will be released to the market
maybe invest the next few thousand dollars in cheap regenerative energy , with your electricity bill you have the best ROI you can get and on the other side if you convert your "free electricity" into bitcoin it is like an "long term battery pack" why should anyone store energy if you can store bitcoin :D
Won't the fees compensate the miners over time when the block rewards go down. I thought that is how thw system was set up.
It rinse repeat time with halving. Its the same narrative everytime
I feel ya!
scary times! men will be made for sure lol
Its probably still pretty usefull if you can heat your house with it in the wintertime.
You have no chance unless you unleash a super miner.
I'm from the UK. Around 30c for electricity. Crazy.
U met Rolf! Such a great dude
Keep on hashin'...no matter what. Better in our hands than Blackrock's!
💯
If bitcoin keeps halving every 4 years how will it run out?
I hate Bitmain warranty as well. My K7 is working great but I bought a brand new S19 Pro 110th and its had issues since day 1. Finally sent it in for warranty and they “repaired” it. Worked for 2 days then the whole hash board went abnormal so I sent it back again for warranty. Now they claim the hash board is bad and they don’t cover that and are scrapping it. They aren’t holding the repair shop accountable for messing it up and I have to pay them to ship it back even though I’ve paid for shipping it to them twice. So yes, Bitmain is a pain in the ass and pretty much useless when it comes to standing by their product.
Centralization. 😬
The subsidy is going away its temporary. The real elephant is can bitcoin be a viable currency that people will use after all a miner will only make money off of transaction fees in the end. If no one transacts with it what was the point.
So buying a S19 pro 100 th is a bad idea now
dumb question, but aren't their cheaper coins to mime...then just convert?
Yes but you’ll have to push those otter coins through a cex to convert it to real btc… Then it’s tracked and you then definitely have to report it if it’s a significant amount.
Just a suggestion: Pick up your miners and move them to Paraguay. $0.03/kwh, and good mining support is already established.
Not able to mine Bitcoin with my residential electric rate. So happy for the HDD mining alternatives
I wonder how it future would look if you invested in solar or wind energy to get an eventual 0 KW price? I know you talked about that in the past. Thoughts?
Both are wholly inefficient & ineffective power sources, solar is absurdly ridiculous especially, and wind isn't much better you'll basically never recoup your power equipment costs with ongoing maintenance etc and you'd literally need 5 Acres of Solar to achieve any reasonable power supply.
However "Renewables" are key, but "Hydro Electric Turbines and Flare Gas" are the solutions. For couple hundred grand you can build a 5 Megawatt Hydro Station on a small river with Whirlpool Dam wellhead and have Decades of Free Electricity and minimal maintenance costs. Flare gas or LPG Generators at 2.5mW also highly efficient, but upwards of $1.5M per and Flare Gas is now being utilized by the Oil Industry itself too Mine Bitcoin on, so difficult to get contracts with them. So Hydro is the best solution.
@anonamous8243 I decided BTC mining is just too expensive at my home. I bought Fractional Mining NFTs to get profits from BTC ASIC miners running of flare gas in Texas. It makes more sense to me.
@@garykostelec1327 Awesome, yes im aware of that program and a Private Commercial Miner myself I thought that was a great concept they did, and also totally understand its definitely a hefty investment and unless you plan to Relocate Overseas as MANY of us long this game have and are continuing too there's literally no point starting Mining in places like the USA as eventually they'll work to Regulate & Prevent "People" from Mining. My guess is they'll eventually require "Licensing & Bonding" similar too a Net Bank or Commercial Bank business with Costs of entry $250k-$500k just for licensing not to mention a tedious process of Scrutiny & DNA checks etc that 98% won't be able too complete, and will eat profitability away to nothing as they'll have their hands in that cookie jar too. So smart play while it lasts. Also US Energy Costs are going to Skyrocket next couple years to multiples of what they are now, will probably be $0.25 per kWh minimum by 2025. It's coming...
Answer: stack cash when you can, then don't sell bitcoin until you can lock in a price that at least breaks you even on the books.
Lets hope for the btc price to help us mate 🙏🏻
Vosk, the miners will create upward pressure on the price as it has every time at the halving. There will always be neh sayers! This isn't the first time miners have been in this situation, true the tight margin miners may fail, but those that have been around understand how to weather the halving and will be there after it happens. You included!!!
Is not worthy anymore electricity is very expensive and the gaines or so small
Nice photo of the dog
Im very Pro-Mining. But for a couple years now I felt home miners using a residential electric rate, can no longer profitably mine bitcoin (with BTC ASICs). BTC cannot be mined cheaply enough on residential e-Rate to compete with Mega BTC Farms. Even with todays cheap S19’s its very difficult.
in europe we often pay more than 30 cent per kwh ^^
@@andreas4687 Wow im sorry to hear this, that is very high! It makes it difficult for any type of mining
I am happy to be part of this trade app 🎉🎉🎉🎉🎉😊😊❤❤
Name of app pls
As serious miner you don't run your rigs when it is negative, you buy the coin. If you run negative, you will not be able to deduct all the income from taxes anyway. 2nd reason for this is the wear and tear, it is not only the electricity.
An average btc miners won't survive, it is big boy's game nowdays.
The perfect time to buy miners is a few months after the halving when the bullrun haven't really start and they are completely negative.
Yes
Foist! Love u vosk!!!! ❤
The algorithm will simply adjust accordingly. Less miners doesn't mean anything except maybe longer transaction times.
Like one month longer ? 😂 think that suppose to be point of BTC no? Without demand of use no one needs miners. Supply alrady sits almost unused
There’s like a whopping 5 states in the entire U.S. that get 10 cents or less per kWh and you think your electric rate is below average lol. Your electric rate is fucking outstanding bro. You should be super grateful for that rate. BTC mining isn’t the most profitable either. So that’s partially why your profits are lower than what they could be
The big question that very people are speaking to is the state of the economy. In general, halving has bit every other projects in the ass. The saving grace will be the people that exit the industry.
The break even point of most of these miners right now is pretty much your entire high school experience 😂.
They had no problem raising the prices to absurd amounts when the market was hot. They seem to have a problem matching that enthusiasm now that it's not
Buy land surrounding your top miners, then you contact your local energy suppliers to rent them the land for a solar farm under contract to supply power to your farm. Win-win.
Time for full solar immersion mine
Most unbiased cryptotuber i love it.
4 paired S9 20TH set up on solar wont be bad and free electric is a smart route.
great video!! I say put them in a hosting facility with cheaper electricity.
Even with almost free energy (solar+grid power) i didn't buy s19's because of halving and low returns.
Just order a couple l7 and in the feature I'm think to buy some jasminers.
Have a lot of L3+ and I will hold to sale in next bull run !
In Europe the energy cost is very high from 0.20 cents to 1$ so for individuals to mine even with the most eficient miners is so bad 😢
So, when the halfing comes up, we just pay more for energy? Since BTC holders stop subsidizing miner fees via currency devaluation.
After Halving everytime price goes up. Minimum 3x...then all ok. If not minerfarms with highest costs, must be close...
why u mine bitcoin and no other coin?
That big dip in the difficulty was china banning mining
Im really surprise he didn't seem to know that
So I will be able to buy cheap coins???
You are lucky with 7 cent, here in europe we are at 24 cents al least ...
If you aren't prepared for big power sink then you will be in for a long hard journey
Making a mining shed is similar to building a slave ship for urself
Price will go up past ATH (69k) by next year. it always does.
212k probably maybe higher if dollar starts tanking
All miners will lose half their profits in April. Literally half. If your profit isn’t 50% above your current debt and monthly spending then you need to sell your miners now and just out the money into Bitcoin. Otherwise you’re just drowning in debt that will have an ROI in the decades.
Keep going. Just pick up another side hustle.
Or get kaspa rigs, as its supposed to get popular as shit.
2 things .
1. The average person with a basic computer or laptop could mine Bitcoin in 2011 and like Hut8 , eventually they won’t be able to
2. While bitcoin miner complaining about the halving , how do you think your price is derived? It’s the scarcity within itself that makes Bitcoin cost more which then benefit the miners. Sadly yall still on scarcity for y’all’s price discovery when yall should be on transaction fees within volume . Time will tell how all this but I can say I’ll never be a miner but I will purchase the end product
The tail emissions provided by XMR make mining worthwhile. It’s not profitable, either, unless the price flies up, but it is an incentive to keep on keeping on.
XMR is a scam coin just look at the block ledger daily transaction totals
/sarcasm alert/ 😅
Too late, the difficulty pile up has already been set into full swing
10 cents a KW USD plus delivery costs taxes and distribution charges. Likely closer to 0.16-17kwh. That will put you way under water.
thats your cost?
@@VoskCoin yes sir, I pay .10, but after all the fees and other charges it works out to well over 0.16 cents. And the more i use the more expensive the charges are. Real pain.
b/c you'll make half of the 6.25 you make daily now, while other expenses go up or stay the same. But the good part of that is the price of BTC is going to go up too.
I really wish I would have understood the importance of mining years ago. I finally got around to buying some miners. I would have been in a much better position much earlier on, even if it were since the last halving started.
It's not even profitable anymore tho right
Would like to talk if possible
What happens to all the old mining machines? Am I right in thinking all the bitcoin (21 million?) will be mined by about 2027?
No. 2150's. And miners will continue to operate for processing transactions and earning the fees
Hopefully the sha-256 chain becomes more sought after by other users to increase money paid to miners
The issue is that the hashrate being produced by miners will continue to increase, so the 'mining difficulty' will also continue to increase. More total hashrate means less overall payout per hashrate. Imagine x amount of bitcoin being paid out for mining, then divide that x by a lot more miners. As the hashrate grows, your share of the payout gets smaller.
that sucks man. just mine as much as you can before the halving !
or mine something else maybe ? 🤷🏻♂️
f2pool shutting down nov 1st. wheres everyone going?
How many are pointed to BCH 😊
What does bitcoin do that is superior to anything else?