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/biz/ - Business & Finance

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53400967 No.53400967 [Reply] [Original]

Will mining be profitable again?

>> No.53401593

>>53400967
Only if you find a gold reserve in your back yard and im pretty sure there are (((laws))) that wont allow you to mine that either

>> No.53401736

>>53400967
I’m currently mining at a profit. Slight, but I have decently cheap energy. I’ll continue to mine through the next bullrun

>> No.53401744

I'm doing it right now. KAS.

>> No.53401770

>>53400967
On graphic cards? kinda doubt it.

>> No.53401966

>>53400967
no lol

>> No.53402029

>>53400967
>Will mining be profitable again?
lol
lmao even
Toppest of keks
The most epic of lulz

When has it ever been profitable post 2013? Unless you live in China or some other third world country, with cheap power. Where you can get away with credit card theft, thus paying nothing for hardware only needing power. Mining is a joke even mining shit scamcoins Jeets and other browns have that "markets" locked down.

>> No.53402174

>>53402029
https://finance.yahoo.com/news/u-first-nuclear-powered-bitcoin-143857763.html

>> No.53402189

>>53402029
it's been extremely profitable for a couple years before the ETH merge

>> No.53402913

>>53402029
>credit card theft
Credit card issuers take on the liability on of giving out loans. No theft about it. Unless we’re talking 10s of thousands or more they just write it off as bad debt and sell it to some collectors

>> No.53402947

lets say theoretically i have created a device that is very easy and cheap to make the size of a car battery that outputs the same amount of power as a car battery, but never ever runs out. completely theoretically of course, how would i best set up a mining operation for it that would also be easy to keep a secret?

>> No.53402959

>>53400967
Helps heat my basement, so profitable for me.

>> No.53402991

I am probably the only miner in this thread. I mine asic and i have some gpus, but most were sold off in 2021. I have been mining since 2017. idiots like >>53402029 have no idea how anything works lol

>> No.53404214

>>53402991
I have 5 asics running 24/7. Not top of the line but I got them at a heavy discount. Never bothered with gpu mining really

>> No.53404343
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53404343

>>53402029
>When has it ever been profitable post 2013?
in 2021 there were literally people here with like 5 3090s living out of hotels and stealing the hotels electric still making fucking bank despite paying to live in a hotel. 2021 was fucking insane for mining eth.

t. have mined on and off since 2013

the smug hubris from people who have never done this/boomer rock enjoyers/tourists seems like its at critical mass, congrats on being yet another bottom signal. we're either really close or 16k was it.

>> No.53404457
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53404457

>>53404343

>> No.53404466

>>53400967
The future of mining is iExec RLC where the computing power gets translated into a real product

>> No.53404522

>>53404457
yeah that's the guy i was thinking of. absolute chad. mining is really great not just because you can potentially make tons of money, but because of the journey itself. if you are sufficiently motivated you will learn a lot. i'm sure there are tons of people out there with bizarre stories and great experiences. if you live in a cold climate year around as well there is tons of incentive.

>> No.53404586

>>53404522
GPU mining is basically dead after ETH merge and ASIC mining is getting increasingly industrialized. Mining isn't the same as it used to be.

>> No.53404593

>>53402029
It has always been profitable. Whenever I left my home I'd set my computer to mine and it would pay more than my rent. Even if you counted all that energy as a loss, it's hugely profitable. The thing is that you'd be using that kind of energy for heat anyway so it's just free money.

>> No.53404678

>>53404586
i understand that this is probably true, but imo there is always the opportunity for something unexpected to happen in the space.

the thing i have personally always wondered is why has no one found a way to incentivize entirely new forms of proof of work that could provide services such as protein folding or other kinds of simulations people would find valuable. compute power is inherently valuable, i think it will always persist in some form. i understand muh economies of scale muh datacenters and what not, but remember we are in an environment where people increasingly have incentive to opt out of the mainstream.

I didn't get back into mining in a major way for the last bullrun because i had this exact same point of view by the way. the biggest i went was on 10 3900x cpus to mine monero. I had them pointed at xmr I think thanksgiving day 2019 if memory serves, the day of the switch to randomx. the computers all ahd 2 gpus that just mined eth as well. the 3900x cpus made like 5kusd each from mining xmr by the peak of the last bullrun. not bad for a 500 dollar cpu, and being left with some nice computers i could then sell on.

>> No.53404724

>>53400967
if you have free electric

>> No.53404788

surely, but unlikely as eggs have taken over as the most valuable asset of 2023 https://opensea.io/collection/eggs-regular-and-freerange/

>> No.53404864
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53404864

>>53404788
Bug based egg substitute when?

>> No.53404890

reminder it's better to mine crypto to heat your house than just pay for pay directly

>> No.53404942

>>53404678
>why no pow+protein folding
PoW needs to be fair, unpredictable, and easily verified. Using protein folding could allow one institution that comes up with a better folding algo to gain a competitive advantage. Plus, all the nodes in the network need to very easily verify your solution is correct. Trivial for SHA256, very hard for most "useful" kinds of work.
https://www.truthcoin.info/blog/pow-cheapest/

>> No.53404967

>>53404678
Plus any sort of economically valuable work that could be tacked onto PoW (e.g., using miners as heaters) just raises your revenue, allowing more people to mine, raising the difficulty, lowering revenue. So it balances out in the end.

>> No.53405073

>>53404942
interesting link, thanks

>> No.53405579

>>53402029
Lol

>> No.53406414

yep, will be profitable again. Its already profitable, 2060super f.example. Just triple mine three coins at the same time. With 0.1 electric cost u make 0.4dollars per gpu. (after electric)

>> No.53406697

>>53404466
This unironically

>> No.53407317
File: 26 KB, 467x342, 41qxB5XGB+L._AC_.jpg [View same] [iqdb] [saucenao] [google]
53407317

>>53402947
It's called a inverter
>t./o/