[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 116 KB, 550x550, ap,550x550,12x12,1,transparent,t.png [View same] [iqdb] [saucenao] [google]
10500517 No.10500517 [Reply] [Original]

Why are people buying bitcoin when you can just get it for free (mining?)
I think that's the reason it's going down, because people are catching on and mining it, but there are too many idiots selling so the price stays up. It should be $0 because you can get it for free

>> No.10500540

>>10500517
You have a lot of catch up to do.

>> No.10500587

Why is money worth anything? You can get it for free by showing up to your job. How come everyone is so stupid?

>> No.10500598

>>10500587
it's not free when you have to show up and work
with mining all you have to do is turn on your computer, and then you can just fuck off and play yugioh or whatever

>> No.10500623
File: 529 KB, 250x106, abandonShip.gif [View same] [iqdb] [saucenao] [google]
10500623

>>10500598
brainlet alert!
brainlet alert!

get off the thread quick!

>> No.10500637

>>10500598
hint : mommy is paying something each time you plug a device into the wall or turn on the light.

Figure the rest by yourself.

>> No.10500644

>>10500637
but it's always on. so it's free
everyone already uses their computers all the fucking time anyways
all they have to do is let it mine in the background. it's free

>> No.10500650

>>10500598
Electricity is not free for your parents

>> No.10500658

>>10500598
>>10500637
There's also a risk you won't make a return before your hardware fails. It's more akin to investing than working.

>> No.10500662

>>10500598
the difficulty is high enough that the electricity costs are more than 1000x what you would get back from mining bitcoin with a regular computer.

>> No.10500665
File: 113 KB, 580x387, gold.jpg [View same] [iqdb] [saucenao] [google]
10500665

>>10500517
Why are people buying gold when you can just get it for free (mining?)
I think that's the reason it's going down, because people are catching on and mining it, but there are too many idiots selling so the price stays up. It should be $0 because you can get it for free.

>> No.10500674

>>10500644
second hint : energy consumption in a computer changes with cpu/gpu activity

>> No.10500687

>>10500644
This is retarded bait. try harder next time

>> No.10500688

>>10500658
so you just get another computer because you were going to get another computer anyways if you weren't a miner but your computer broke

>>10500650
everyone already uses electricity anyways, might as well mine because it's free

>> No.10500714

>>10500688
This is only true if you rent a place where utilities are included.

>> No.10500726

>>10500714
so you're telling me you don't use electricity if it's not included? if you're going to use it anyways, and you're going to use your computer all the time anyways, why not just mine in the background

>> No.10500742

>>10500726
No I don't use electricity if it's not included. I yell at my mom if she so much as turns on a lightbulb.

>> No.10500752

>>10500726
Because your personal computer is not powerful enough to earn anything.
Profitable mining require large investments in hardware and an amount of power that will get you kicked out of your all included apartment.

>> No.10500753

>>10500742
that's dumb though. you could get free bitcoin

>> No.10500762

>>10500752
ohhh

>> No.10500769

So if it costs so much to mine it then why don't people just get jobs? It's clearly more efficient

>> No.10500788

>>10500769
You must be black

Blacked

>> No.10500815

>>10500769
Because in some favorable conditions mining becomes profitable, hence it supports people investing in it, and it becomes a job.

>> No.10500924
File: 137 KB, 648x1024, A9F2DC17-5759-44A2-8DC1-29B4E33BD9ED.jpg [View same] [iqdb] [saucenao] [google]
10500924

>>10500598
Well done anon, (You)'ve earned this

>> No.10500949

>>10500517

Kill all frogposters

>> No.10500961

>>10500517
Agreed. Almost as dumb as buying furniture when you can just build it yourself for free

>> No.10500996

ITT: summerfag getting bated

>> No.10501037

>>10500598
A profitable mining rig setup will set you back a couple grand. Your power bill will also fuck you in the ass. You also have to pay some chink to join his mining pool. Many long time miners had to use their own funds to keep their operation going since they were losing money mining. Even if you do end up making money it will be about what a wagwcuck makes. You also have to worry about whether your house is going to burn down and about the short lifetime of your rig.

>> No.10501307

>>10501037
This

You just can't mine with your gaming PC anymore and expect to earn anything substantial. I've spent close to $10,000 just to get a small mining setup consisting of 4x Antminers and 2x GPU rigs and all the infrastructure to run them. While I've paid everything off many times over due to pumps, this investment is currently returning me only ~$20 in profit per day. People building out operations today won't expect to break even for 1-2 years unless there's another bull market. I'm mining for the long hold now so I don't mind the low profits.

>> No.10501363
File: 5 KB, 211x239, 149347165841288.jpg [View same] [iqdb] [saucenao] [google]
10501363

>>10500517

>> No.10501374
File: 2.99 MB, 252x263, HnV8bNj.gif [View same] [iqdb] [saucenao] [google]
10501374

>>10501037
>>10501307

>> No.10501397

Worst thread in months.

>> No.10501438

>>10501397
what was the last one?

>> No.10502087

>>10500598

Lmao

Put me in the screencap

>> No.10502276

>>10500517
>For free
>Spend like 10 grand on ASICs and electricity bills

>> No.10502587

>>10500517
poor bait

>> No.10502650

THANKS OP HOLY SHIT

>> No.10502757

>>10501307
S9 and 1080ti?