My brother gave me this little bitcoin miner that Kinda looks like a weird usb wireless adapter from days of old, I’ll add a picture in a bit, but I’m a total novice... is it worth going through all the hoops just to run a little mystery miner that probably do almost nothing?
Edit: sorry, I’m new to this and am waiting for my real Computer to be back in action: here are the two better ones he just gifted me thoughts? Please remember, I’m a total n00b and my bro doesn’t really wanna take the time to teach me (I don’t blame him hahaha) so I’m open to all the tips I can get!
06-18 20:35 - 'I thought as many people said, it is not worth it, but i had a PC sitting around and I tried a couple of cloud programmes and [Cudo Miner] came recommended through a reddit thread I started and I have it running and it is...' by /u/mogmachine removed from /r/Bitcoin within 309-319min
''' I thought as many people said, it is not worth it, but i had a PC sitting around and I tried a couple of cloud programmes and [Cudo Miner]1 came recommended through a reddit thread I started and I have it running and it is flipping awesome. It brings me in about 60€/month for about 35€/month electricity costs, but I live in the south of Portugal where electricity is very expensive ...so although I am profiting 25€/month, I am actually putting away 60€/month of BTC (it mines ETC, Raven and Monero - or whatever is the most profitable at the time - then converts and pays me out in BTC) which is allowing me in a way to use my electricity bill as an excuse to save another 35€/month of BTC. ..and it uses GPU and CPU mining at the same time, and of course you can setup the same account on multiple machines (if you have an office, student halls etc with electricity included you are laughing). Of course I also DCA Bitcoin every month where available as many point out, if you are investing in the mining rig, you are likely better off buying BTC. ..but think of it this way, if you have the hardware sitting there already ...for an investment of 35€/month in electricity, if BTC goes x10 in the next few years (which is a very modest hope compared to what many suggest/predict) then my machine is currently putting away 600€/month. Check it out and see what rate you current CPU and GPU predict, then at least you have an idea ...I could add my macbook to the party, ..but for the €2/month it forecasted for CPU only, ..i thought better of it ;) ''' Context Link Go1dfish undelete link unreddit undelete link Author: mogmachine 1: cu*om*ner.com**a=d*EwC*3Kr Unknown links are censored to prevent spreading illicit content.
06-03 10:44 - 'It's not worth it, the miners (transaction fee) on BTC is ~$4! Check out Bitcoin Cash ([link]). It's the real Bitcoin. It's meant to be used as a currency, that's why the fees are in the pennies.' by /u/coin4coin removed from /r/Bitcoin within 654-664min
''' It's not worth it, the miners (transaction fee) on BTC is ~$4! Check out Bitcoin Cash ([link]1 ). It's the real Bitcoin. It's meant to be used as a currency, that's why the fees are in the pennies. ''' Context Link Go1dfish undelete link unreddit undelete link Author: coin4coin 1: bitco*n.**m Unknown links are censored to prevent spreading illicit content.
As the title suggest, if I were to drop $1415 on an AntMiner S9 (or get the new DragonMint 16T if I can get a single unit instead of 5) would it actually be profitable? And how long would it take to earn back the investment? Also, if it for any reason becomes unprofitable to mine BTC could I use it to mine other coins or somehow re-sell the machine for a reasonable price? I have the money to buy one and I have already invested in to 0.10~ BTC (currently in a wallet over at Coinbase) but it's quite a price to pay up front for something I'm basically unfamiliar with.
PSA: The battle of the activation of SegWit is not just about SegWit. It's about the independence of Bitcoin (from miners). Let's not compromise in any way. We can't accept any condition. It's a battle worth fighting.
My brother gave me this little bitcoin miner that Kinda looks like a weird usb wireless adapter from days of old, Ill add a picture in a bit, but Im a total novice... is it worth going through all the hoops just to run a little mystery miner that probably do almost nothing? /r/Bitcoin
I don't have to pay for electricity in my apartment. Is it worth buying a bitcoin or other cryptocurrency miner?
It would prob cost between 3-4k for me to buy a miner like an Antminer s9. Would it be worth it right now for me to do so? Does anyone have one of these can tell me their experience with what it's like to have one in their domicile?
Hello Reddit, I'm kinda new to all this but what is the difference b/w bitcoin, Zcash, and monero mining? And if I bought a rx 470 to mine would it be worth the investment on either of these? Or is it better if I bought the little USB miners? (Can't remember the name) also if it's worth it at all.
Dumb question: I'm very very new to this and looking for a fool-proof Bitcoin miner. As in just download, insert Bitcoin adress, and mine. I know it may not be worth it due to cost, but I want to just try it and is blockchain.info good for a noob like me? I did the security steps /r/BitcoinBeginners
Is it worth spending the money on a Raspberry Pi bitcoin miner setup?
So I am looking into start mining for myself, i have seen that the raspberry pi rigs are not to expensive si can anyone tell me how well they run once you have gotten it started or is there a better option out there?
PSA: The battle of the activation of SegWit is not just about SegWit. It's about the independence of Bitcoin (from miners). Let's not compromise in any way. We can't accept any condition. It's a battle worth fighting. /r/Bitcoin
I've been thinking of buying a Butterflylabs 25 GH/s Bitcoin Miner. Will it be worth it, or will it take forever to earn something with it? Please note that I'm not an expert when it comes to Bitcoin mining..
Why Amaury's stunt is clever, why it's a potentially recurring problem, and what can be done about it
TLDR: this isn't an Amaury problem, it's an incentive problem. If BCH splits and the ABC token retains even some residual value, then we're likely to see future "IFP splits" in other tokens and possibly BCH again. Here's my take on The Amaury Situation. I think he wants to get out of dealing with BCH and leading the ABC team. I think he's over it. I think he wants to go do something different. He could quit and walk away. But why do that, when he could create a perpetual income stream for himself as well? "Dead" coins hold value A lot of people here seem to think the ABC split will be worthless. I disagree. It will have significant value: Let's assume ABC is only worth $20. Even under this assumption, Amaury stands to get $10 every ten minutes in perpetuity - for doing absolutely nothing. That's $60/hr. (x 24 hours, or $1440/day) in mail money. That's a decent wage - a perpetual income stream (annuity) - with literally no work required. But I think $20 is super low. Tokens strangely hold value long after the token appears dead. For example LTC is still worth about $50 - and that's AFTER it's champion announced it was a dead project and all the devs left (and LTC is much less scarce than BCH). FFS even BSV is worth $150 and the entire cryptosphere agrees its a scamtoken run by a con artist. If LTC and BSV can do it, so can ABC. I predict ABC token will hold significant value. If the ABC token can hold $50/coin, then Amaury looks to collect $150/hr. (x24 hrs - $3600/day). If it can hold $100/coin, then Amaury gets $300/hr (x24 hrs - ie $7200/day). But even if it drops to $10/token, he still gets $720 every day. For doing nothing. Why is this a problem This is a serious problem with our incentives. If he succeeds, Amaury will have piloted a repeatable exit-scam recipe for any reference implementation. "Tired of supporting your halfass token and ragtag devs? Here's an easy escape hatch! Just create a version that pays you a nice annuity, let the token split, and retire with your annuity." That's the problem. Amaury doesn't have to keep the ticker. He just has to successfully split the token into two tradeable tokens, and he wins his annuity. What can be done I'm not sure. I want Amaury to lose here. I want him to get zero annuity. I want to send a clear signal to the next Amaury that splitting the token in order to collect your annuity is a losing strategy. But I can't see how to accomplish this. One way would be to attack his chain through reorgs. But there is no direct incentive for miners to do this. And I don't support the notion that "bitcoin works because miners attack chains they don't support." Another would be to try to drive the value of his token to zero. But that's basically impossible. I think it will be very hard to drive the value of his token even to $20. And at even $20 he gets a nice little annuity. Not a get rich quick scheme by any stretch, but still, it'll pay for a nice mortgage. I know I wouldn't turn down the chance to get an extra grand per day of mail money. So even at $20/token, Amaury will have demonstrated that his easy retirement plan will work. We need $2/token if we want to declare his strategy an unqualified failure. We can't. And the problem here is that if/when BCHN (or anyone else) becomes the reference client, then its leaders will have the exact same incentive to cause a split when they're tired of managing the project and want out. Conclusion Amaury has surfaced a possible gaping vulnerability in the incentive system which creates a perverse incentive to continually create "IFP" type splits. This vulnerability exists in all bitcoin-like tokens. Unless we can find a way to completely block Amaury from his expected revenue stream, he will be setting a precedence that we can expect to see repeated on other tokens and possibly even on BCH again one day. Edit: I wanted to point out that dskloet has reminded us there is a third option, and that is that instead of allowing Amaury to split the coin, we can soft-fork ABC in such a way that ABC considers the blocks to be valid, but the IFP funds are unusable. The obvious way to do this (as dskloet pointed out) is to blacklist the IFP address. But blacklisting has its own consequences. Another way to do this might be to do something like make the coins sent to that address "unmovable" so that ABC clients will see the blocks paying to IFP and therefore valid, but he can't spend the money. Edit: to clarify
What's the difference between blacklisting and making the coins unmovable? Isn't that exactly what blacklisting is?
Blacklisting means not accepting transactions from address X. I propose instead sending "fake coins" to address X. Like putting slugs into a coin-op machine. The machine owner can still try to spend the slugs, but nobody will take them. But the machine owner can still spend any valid tokens spent in the machine.
All ideas seem to be back on the table again: miner validated tokens, shortening the blocktime etc
Bitcoin Unlimited member Andrew Stone is arguing for his proposal group for miner validated tokens again in his latest read.cash article "BCH: Looking back and Moving forward" . Now under the initiative of George Donnelly, and supported by Jonathan Toomim, there's discussion again around shortening the blocktime on Bitcoin Cash. Not that these aspects of the protocol are sacred but these things sound an awful lot like discussion already thoroughly had in 2018. As far as I'm concerned the takeaway was pretty decisively that miner validated tokens were not worth the tradeoff and hence SLP became the main BCH tokenspecification. If we were to change course on that now that would literally set BCH back two years. The takeaway on decreasing the blocktime (for me) was that it could not meaningfully improve the user experience and that pre-consensus was the correct way address the underlying problem. Make fun of roadmaps and stable protocol for businesses all you want but I think it's pretty sad, just like with the DAA, that BCH can't move forward and instead is resolving 2017 problems for the third time. In the spirit of the IFP I only want to add this: You know who decreased blocktimes? Zcash, and now they're number 30 on coinmarketcap.
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Is Mining Bitcoin Still Profitable in 2020? - YouTube
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