/biz/ - Business & Finance

Your gaming rig on nice hash and buying mining capacity when prices are down. You really don't want to manage cost effective btc mining, unless its for heating and you don't mind having a 80 db loan mower run 24/7 in your flat

>>55347654
>55347654
thats ok i was just hoping for something to run as a BTC lottery to hit a block i dont care if its unprofitable i just want to learn how to configure things like the mining pool and learn how it works so i can decide if its something i want to invest more money into or not

I'm curious if any anons here have experience with cloud mining BTC. What's it like and is it worth paying for?

>>55348140
Then run an xmr solo miner. The principles of mining configuration doesn't really change, just the algos are different.

>>55348160
how do you know you arent getting robbed tho?

>>55348184
i gave up on monero when it took 3 days to sync up to the blockchain only 5% they just dont have a working infrastructure

>>55348202
Lol. Have fun running and syncing a full btc node then. 14 years of data doesn't download in an instant. Pro tip, it's not going to be your bandwidth that is going to bottleneck the initial synchronisation

Also you realize there are xmr pools. Where you can solo mine on

>>55348224
yeah i mine xmr already

>>55349616
So what are you trying to achieve, what are you trying to learn? If you want to run a btc miner, get the most efficient you can get for a price you are comfortable with

>>55349906
the problem is i dont know anything about asic miners or what brands and models are thats why i was hoping for a recommendation. im on a site that sorts them buy efficiency and profit but when i look up the ones i want they are old and not available even on ebay. i look at at something called antminer s3 and cant find one for sale

>>55347622
> YOU ARE WELCOME
https://github.com/jimmysong/programmingbitcoin

>>55349972
Where are you looking? Just by checking ebay quick there are many on sales. Saw an s9 for a good price and there are plenty on Amazon

>>55347622
Freedomcoin.
Stack up cheap nodes and dump earnings into BTC.

>>55349972
>and cant find one for sale
Just remember that 90% of ASIC reseller sites are scams. ASIC mining isn't really a hobbyist thing anymore and I can't really recommend it unless you have free electricity and a warehouse/separate garage. Finding used ASICs that don't have a 200% markup is hard.

>>55350072
If he just wants to play around then it's okay I suppose. In the end its just going to be a loud foot warmer

>>55350088
Configuring a miner is as simple and exiting as changing the password of your Wi-Fi router. If he wants to do that, sure, but he will be disappointed.

>>55347622
>They always colour it Gold

>>55350135
>exiting
Exciting* a Freudian slip because I'm always exiting my positions kek.

>>55350135
It certainly is, it's more fun to try to optimize cpu and gpu mining through over and under clocking and playing with configs. But who knows, maybe he wants to play around with application specific integrated circuits on an engineering level, that could be fun.

>>55348202
>>55349616
>i gave up on monero
>i mine xmr already

Should I buy a Fry miner?

you do realize that to recoup the cost of the miner is like 100 days, even with free electricity and no malfunctions?

>>55352903
He thinks the price is staying at these level. Why, because of Larry?

>>55347622
OP, ever thought of becoming a validator in a PoS chain? It's way easier and equally profitable for beginners.
>t. europoor comfier than ever owning only 2 AVAX nodes

>>55350072
>>55350135
>>55350088
i know its not really profitable i was also hoping just to leave it solo mine as a lottery after im done learning how to connect to pools and all that

>>55351158
i mine it casually but i gave up on stacking it seriously because i got too frustrated with its inconvenient usability. i used to think it was the hidden gem that everyone thought bitcoin was and everyone from bitcoin would move over but now i realized its crap and nobody is ever going to tolerate the 2 day wait time just to check their balance

>>55354354
Do you have a space far enough from your living space where you can keep an old vacuum cleaner on 24/7? That's the noise level most of these make. The "lottery" solo mining gets boring after a while because the chances are so low. And from probability/cost pov you are better off doing different forms of gambling.
>after im done learning how to connect to pools
You literally just paste a pool URL and your Bitcoin address to your miners settings, which you can access when you type its IP address to your browser URL bar, just like accessing your Wi-Fi router. The configuring takes a minute and there is nothing fancy about it. Go change your Wi-Fi password and you get the same experience. But yeah if you want a noisy and expensive electric heater, go for it.

>>55347622
BTC it's not doing great. I'd rather become an avalanche validator. Just 200 avax right now.

>>55355049
Listen to this, OP

>>55355049
>>55355095
Roach shills, shoo shoo.

>>55354683
should i just get one of those USB miners for a lottery machine? no noise, just air cooled and takes only like 2 watts of power and can run whenever my computer is on?

>>55355095
>>55355049
what does an avax validator make and what kind of rig do you need?

>>55355697
At least you won't be losing much money and get to enjoy the lottery. This is probably the best way to get to enjoy fiddling with some mining tech and not losing that much money (or sanity). Go for it, buy a gecko USB. You get to do the configuring and choosing a pool etc. you wanted to do.
>>55355707
AVAX pays a negative real rate, inflation is 2-3x bigger than staking apy. In case you haven't noticed they are paid shills attracting money to their soft scam by invading every /biz/ thread.

>>55355940
thanks the one im finding online with searching is GekkoScience is that the right one? its out of stock on amazone, is the site bitcoinmerch.com legit?

>>55356256
>GekkoScience
>>55355940
stupid morons, just buy 20 dollars here and there, move to cold storage, how hard is this concept for you degenerates to grasp?
>spending $200 on scam usb stick
>still lose money
throw those 200 dollars into bitcoin or literally any other shitcoin.

>>55347654
This is what I did. I made 10 bucks a day at the peak with a 2060

>>55347622
>BTC
Btc is a ticking bomb right now. Worst time to get into that shit.

>>55355130
>Roach shills, shoo shoo.

You're better off buy a BTC mining stock (like MARA or RIOT).
Mining companies can negotiate sites to get power for cheap. They can buy ASIC miners in bulk for cheap. It's also a less of a commitment if you decide mining isn't for you.

>>55356549
Only non idiot itt.

>>55356256
Yeah there are other manufacturers of USB miners but the first one that comes to mind for me is GekkoScience. I don't know much about the models so you should dyor. Be careful of scam sites, you really have to dig a bit deeper to find out if one is legit or not because they have scammy marketing teams writing fake positive reviews. Usually these sites sell only the more expensive miners at unbelievably good prices and hope someone makes a $10k purchase before setting up a new site.
>bitcoinmerch
I quickly checked whois (domain is registered in 2017, which is good) and the founder Idan Abada is doxxed and real. He has a youtube channel focusing on Bitcoin mining etc. Seems to be legit.

>>55348217
It took me 3 days to download the entire bitcoin blockchain

>>55347622
>whats the best starter miner to get for a BTC mining noob?
start mining 12 years ago