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Wednesday, November 29th, 2017SUGGEST NEWS

Bitcoin Mining?
Posted by: Nebuchadnezzar on November 29th, 2017 @ 12:24PM

Any thoughts? It went up from 7k to 10k just over Thanksgiving break. My cousin is already doing it and a Kali Compton member so I'm thinking about it.

https://shop.bitmain.com/antminer_s9_asic_bitcoin_miner.htm


You are way too late to the party and power in Southern California is too expensive (and going up next year thanks to our Governor Jerry Brown). I wouldn't recommend purchasing any hardware to do mining but if you have PCs with decent video cards you can download nicehash and mine when they are idle. Nicehash mines other crytpo currencies and sell them automatically to give you bitcoin. With a GTX 970 and a 1080 Ti I have made about $90 in 3 months with only a few dollars increase to my power bill.

supervillain
- 2017-11-27 17:06:07


I think you're well past bitcoin mining being profitable for the average person.

Slev
- 2017-11-28 08:46:08


Buying an Asic is a risk no matter what you are mining. The thing is that the market moves so quickly, your asic might only have a few months of mining potential before the difficulty factor is ramped up again due to new better Asics on the market. Then you are left with hardware that really cannot do anything of value.... it isn't worth even pennies. So it becomes a gamble. Are the Asics you plan on buying going to pay for themselves before they are obsolete?

Wootah
- 2017-11-28 09:20:09

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supervillain
Marine

November 27th, 2017 @ 5:06PM

Registered:
2003-03-25
Location:
socal
Posts: 200
You are way too late to the party and power in Southern California is too expensive (and going up next year thanks to our Governor Jerry Brown). I wouldn't recommend purchasing any hardware to do mining but if you have PCs with decent video cards you can download nicehash and mine when they are idle. Nicehash mines other crytpo currencies and sell them automatically to give you bitcoin. With a GTX 970 and a 1080 Ti I have made about $90 in 3 months with only a few dollars increase to my power bill.
Slev
Marine

November 28th, 2017 @ 8:46AM

Registered:
2003-03-26
Location:
Seattle
Posts: 492
I think you're well past bitcoin mining being profitable for the average person.
Wootah
non-leet

November 28th, 2017 @ 9:20AM

Registered:
2003-05-16
Location:
Idaho
Posts: 1826
Buying an Asic is a risk no matter what you are mining. The thing is that the market moves so quickly, your asic might only have a few months of mining potential before the difficulty factor is ramped up again due to new better Asics on the market. Then you are left with hardware that really cannot do anything of value.... it isn't worth even pennies. So it becomes a gamble. Are the Asics you plan on buying going to pay for themselves before they are obsolete?
hardcore puppy
Marine

November 28th, 2017 @ 2:16PM

Registered:
2003-11-02
Location:
California
Posts: 340
I think you can still invest in Bitcoin, similar process as stocks.


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