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14024720 No.14024720 [Reply] [Original]

Is mining worth it?

>> No.14024726

>>14024720
not anymore, find a promising alt and get in there

>> No.14024749

depends, you need to generating excess electricity or near a powerplant generating excess where they give you a good deal
you can't simply buy a miner and plug it in and become profitable

>> No.14024762

https://www.youtube.com/watch?v=0mpYMfpXjuc

this was a cool video where someone explores the idea of installing a water turbine generator and mining with the power generated

>> No.14024764

Just mine Nerva. All you need is a cpu. And no pools

>> No.14024790
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14024790

Yes if you have cheap electricity and latest generation hardware.

>> No.14024812

>>14024726
Any recommendations?

>> No.14024814

if someone knows somewhere with lax local regulations for a micro-hydro set up I would be interested in investing in a generator and mining farm
In USA it's next to impossible, or I haven't been able to find clear rules on damming a body of water to generate electricity

>> No.14024828

>>14024749
>>14024790
How much electricity does it use?

>> No.14024833

>>14024812
idk major coins like btc, litecoin are winding down in terms of mining profitability because of the rewards

Cardano is pretty promising but imo its like 1-2 years out from the token having value

>> No.14024850

>>14024833
Do you mine or just trade?

>> No.14024860

>>14024828
depends on how many miners you want to run, but this is economy of scale where more miners equals more profit per unit of investment and effort

>> No.14024876

>>14024850
i have slowly been accumulating btc using dca, but i will probably grab some ADA soon, but yea its early in its lifecycle and you could mine it

>> No.14024944

>>14024876
Well, idk now because of the high electricity aspect.

>> No.14024947

>>14024814
LOL. There is no state in the US that will allow you to dam water, even if you own every acre the water is located on. That shit was locked down by the state and fed decades ago. You need millions of dollars for environmental studies and impact studies and so much red tape, even the big corporations don't bother. The only entity that can build a dam outside of that is beavers - and even then Fish and Game tear them down if they impact downstream enough. Nobody is going to let you dam a river or stream for internet coins, that's fucking hilarious you even think you can try.

>> No.14024983

>>14024833
kek, so winding profitability winds down because of diminishing rewards, how do you get miners to secure the chain?

>> No.14025005

Are there any goods coins to mine with cpu?

>> No.14025012

>>14024947
what about man made lakes on private property that were grandfathered in

my next plan is a miniature nuclear reactor that they used on aircraft carriers and in under developed countries
https://en.wikipedia.org/wiki/Small_modular_reactor

>> No.14025015

>>14024983
for btc? its getting harder and harder i guess

>> No.14025020

>>14025015
I'm looking for an alt coin.

>> No.14025035
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14025035

>>14024720
I have a battery+windmill setup on my property in northern Michigan that I use to generate power for mining.

>> No.14025050

>>14025035
how much power can you generate

>> No.14025088

>>14025015
>>14025020
What about if say, there was so many txs occuring on a network that the fees actually surpassed the block reward. That's a pretty novel idea huh. I wonder if there's anyone else who knows this?
..
..
..
..
..
Oh yeah, Calvin Ayre just bought 300m worth of ASICS because with 2GB blocks there will already be 14+ BitCoin in fees on top of the 12.5 block reward. WIth uncapped blocks by Feb, there will literally be thousands of BitCoin up for grabs as fees.
People don't understand this is how bitcoin is designed to work. The block reward is just a bootstrapping subsidy to get the coin off the ground.

>> No.14025143

>>14025050
I have the same question.

>> No.14025154

Craig laid out Bitcoin was intended to end up in large datacenters eventually, it‘s not intended for hobbyists to run a node but miners - and actually that (missing) understanding drove the blocksize problem.

BTC is a dead end.
Cause it cannot scale its dependent on the block reward more and more miners compete for an ever shrinking piece of the cake. BTC is forced to break 100k and go to a Million longterm or the network will just become too insecure.

How likely is it to go to 100k or 1m per BTC?
- BTC‘s use case is crippled towards the greater fools. It‘s unusable as CASH, it is SLOW and it is EXPENSIVE to transact. It is because it cannot scale. Lightning is ILLEGAL money laundering, terror financing and tax evasion. Sooner or later, or at least IF BTC grows big enough again for media attention legislators will inspect and figure exactly that. Subsequently BTC as a currency will get banned, likely also because of SegWit which cripples traceability and encourages anonymity rather than privacy.
- While you could act for deflation and store-of-value, these two are not limited to BTC but also to others.
- So BTC has only two things currently going for it to differentiate it from others:
Being recognized as the original, or historic Bitcoin. The name, ticker and wide acceptance.

With CSW now going to court to prove he is SN, these two are in grave danger:
IF he can deliver proof:
- BSV will officially and legally become the status of the ‚original Bitcoin‘.
- BSV can be granted in follow up cases the rights to the simple name ‚Bitcoin‘. Other coins would need to rename.
- BTC will end up in one like with Bitcoin Gold or Bitcoin Diamond.

Not to mention that CSW’s legal action will stall the market.

>> No.14025197

>>14025035
That's actually something worth investigating. Geothermal too.

>> No.14025217

>>14025088
>>14025154
Ahahahahahahahahahahaha

AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAAAAAAAAAAAAAAA

>> No.14025247

>>14025217
I dont know why you laugh but these 2 posts are very substantial and laid everything out for you:
The Case For BSV.

>> No.14025276

>>14025247
it's a faggot scam coin kill yourself

>> No.14025383

>>14025154
I got a conversion that you an immersion cool an s9 and it makes it very quiet

You can run it anywhere and if you add in the heat its very reasonable and you don't have to pay the exchange fees either

>> No.14025598

>>14025276
you're gonna wanna off yourself in a a few months time. That is unless you're buying SV with your shill paycheck.

>> No.14025639

>>14024720

No, because bitcoin's value has continued to plummet closer to China by the day, and any other coins are just poorly-disguised pump-and-dump schemes.

>> No.14025829

What about mining raven coin?

>> No.14025949

>>14024812
Harmony (ONE)
Sell at 5 cents