Bitcoin mining reddit The NiceHash is a Bitcoin centered platform, providing a complete ecosystem of mining and BTC payment services with the goal to accelerate Bitcoin adoption worldwide. Still better than the interest on any account I've had, but I won't be breaking the bank anytime soon. For Mining, you should only use a Separate Device not a personal or Work device whose lifespan gets reduced during the Mining and using it for your works. I have a large hashflare contract and dont believe I will ever break even 98K subscribers in the BitcoinMining community. And it will most probably log your activity for a while, before actually starting mining, then mine at hours most unlikely for you to use the computer, and most unlikely to get caught. Not sure which part of mining interests you, but first some more general comments about mining: Because Bitcoin is a decentralized system, you need a decentralized workforce to keep it running. You are rewarded bitcoins for validating the transactions, which is how the currency is secured. Often you mine other coins but you’re paid in Bitcoin. I would try to run the miner at night and see if it helps. If you want the best chance of recouping your investment you have to host the miners where electricity is cheapest and that is China. If you want to do more, look to increase existing equipment hashrate or find new (cheaper) equipment. I would recommend GoMining it uses NFT powered mining and is probably about one of the most legit cloud mining services I’ve used I currently get about about $10-$13 per day deposited into my BTC wallet the more you invest the more you make you can upgrade your NFT by 2 ways you can upgrade your TH which is the power your miner has same way I ran a fairly large hydro powered mining operation for a few years starting in 2015. Then exchange it if you want for a different currency. Leave mining to the big players who pay next to nothing for electricity. I started mining to nicehash as it seems to be yielding more, and KYC isn't a problem for me. This is the only host I've seen thus far that has an MLM component to it. I love mining. Edit: …or buy bitcoin outright r/gpumining: The community of GPU mining enthusiasts, both professionals and hobbyists. Macs are not cost effective or fast enough even Mac Studio How many GPUs you can buy for one Mac Studio - 10 -15? Yes, I'm also looking at these guys. * Members Online Mining is an arms race to increase an always decreasing paycheck. Thats an agreed rule of bitcoin. I'm mining because I know it's more worthwhile to have the crypto than complain about my electricity bill. Ask questions or receive news about about mining, hardware, software, profitability, and other related items. So the market has seen a new challenger arise before. Bitcoin mining has been totally an ASIC game for a long time. 56/month would take 8 years to pay off the Miner. The essence of a bitcoin is the ledger…the record of who owns what. 81/month. For years the narrative that has been pushed regarding Bitcoin mining is that it’s a fool’s game, better left to the professional mining farms and big players due to shrinking profitability. 04. For discussion about Litecoin, the leading cryptocurrency derived from Bitcoin. Sinohash is reputable and will buy the S9 miners for you and host for $42 a month per miner. I've read the reasons why this supposedly is, but ultimately the incentive for bad actors to flood forums like reddit with "no, this one is legit, don't worry" messages is so high that frankly I can't trust anything I read. S. Is the 100amp breaker new? Jun 17, 2024 路 103K subscribers in the BitcoinMining community. I like their current prices (which are down from 3 mos ago). The AVALONminer 1246 is a newer ASIC miner that has recently been released and is designed specifically for mining the SHA-256 algorithm-based For the past few weeks I’ve seen videos and articles all about crypto mining. The official bitcoin mining forum / subreddit / chat room / place to be! The official bitcoin mining forum / subreddit / chat room / place to be! Members Online 馃摚 T21 SUPPORT: Braiins OS 24. As apposed to Bitcoins which mine SHA256 hashes, alternative coins such as Dogecoin and Litecoin mine Scrypt hashes. This enables miners to use energy sources that have low demand, are off-grid, and/or would typically be Been quoted, "Bitcoin is designed to bring us back to a decentralized currency of the people," and "this is like better gold than gold. Like currently you’d be spending more on electricity than the Bitcoin you’d mine is currently worth, but if bitcoins price keeps rising then eventually it could be worth more than you spent to mine it? Oct 7, 2023 路 Mining Subreddits r/BitcoinMining. 04 per kWH. * The general unit structure of bitcoins has 1 bitcoin (BTC) equivalent to 1,000 millibitcoins (mBTC), 1,000,000 microbitcoins (μBTC), or 100,000,000 satoshis. I just got into bitcoin mining, and it's slow going to say the least. Litecoin is developed with a focus on speed, efficiency, and wider initial coin distribution through the use of scrypt-based mining. I use BitcoinMinerSales. If you were going to buy a contract for $200 or whatever just figure out how to buy $200 of cryptolikely bitcoin. This is a surprisingly large Bitcoin Mining subreddit with over 30 000 members discussing the various aspects of mining bitcoin. You will be throwing good money down the drain as you are already underwater. CPU (just your PC) mining profitably is long gone. com for miners and hosting, but I’ve had good luck with 4spaces and a couple others too. Two mining pools already control > 50% of the hash rate Pools are made up of miners, but are separate entities. 03/kWh so only $15. Idk if you even can mine Bitcoin from your phone. It is not as profitable in the longrun but I’d say it is also lower risk in the shortrun, assuming you don’t get scammed, because you can estimate the amount of bitcoin you’ll get and you pay a set amount at the start without any worries. Say, You get about 50-60% only after all these from Mining. If you're looking to get bitcoin using your phone, I just recently downloaded a few of these "play games win bitcoin" apps and they ended up being legit, it's not much as far as what they give you, and you'll spend more time watching ads rather than playing the games but I've got a Seems like all the mining software I find recommended online (eg CGMiner, Multiminer) gets flagged as malware in Windows 10. You are competing against professional miners who earn a decent profit by paying just $0. The tax benefits of bonus depreciation, the upside on the miners and the coins… buy in the US and host in the US. Any suggestions or recommendations to start? Nov 9, 2020 路 it feels like that would be an awesome way to sneak in some bitcoin mining. r/gpumining: The community of GPU mining enthusiasts, both professionals and hobbyists. The official bitcoin mining forum / subreddit / chat room / place to be! Compared with the mining industry growing rapidly you have to realize you're competing with hundreds of multi million dollar GPU farms, ect. As such, it is more resistant to wild inflation and corrupt banks. I basically paid zero for my miners and my power/cooling infrastructure. Also bitcoin mining in general is not going to be profitable for very long for anyone unless you have crazy cheap energy rates or are innovating with heat reuse tech, demand response, flared gas based mining,etc. OP, where is this "at least 24 months of unviability" coming from in your title? I can't find it in the article and when it comes to Bitcoin the difficulty adjustment which happen every 2016 blocks (~2 weeks) makes this very unlikely. I suggest to not spend any more fiat on the mining setup you describe. ( im not an expert ) but I think when it comes to bitcoin mining, the whole point of having mining is to mine obviously, but also to get an ROI on your investment as quick as possible because mining rigs are stupid expensive. Renewables are cheap when they’re available, but unfortunately still not the cheapest when they’re Bitcoin relies on a software concept called a "block chain", which is a special type of public ledger file. Discussion of mining the cryptocurrency Ethereum. 1% of global energy consumption. 7 Years Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. If BTC price doesn’t keep going up hugely or the value secured starts to make it worthwhile - the network becomes inadeqautely secured. Mining is profitable, but not by a lot. If you solve the problem a new bitcoin is created by the network and given to you as a reward for solving the problem. Hashing is a randomness algorithm Using a target range, the average number of guesses required is equal to half of the size of the number domain (for SHA256, this is 2 256 ) divided by the size of the target range Mining increases the bitcoin network's security and fights fraud by calculating what's effectively a checksum for transactions. The computation done during bitcoin mining is basically validation of bitcoin transactions through a "proof-of-work". It doesn’t matter if a particular miner or cartel of miners switch to renewable, if they’re undercut by someone else in the world using cheap brown coal they would struggle to last for long. r/CryptoMining Feb 18, 2022 路 Lots of data sets in mining lag bitcoin’s price, including prices for ASIC mining machines that characteristically climb or fall with bitcoin but with a delay. 0155/month. This is the Bitcoin mining subreddit so I assume you are only buying Bitcoin mining rigs and no other altcoin miners. GPUs build for crypto mining. r/mining: This is a subreddit for those involved or interested in the extractive mining industry. The bitcoins themselves are just serial numbers, like the serial numbers on a dollar bill. The official bitcoin mining forum / subreddit / chat room / place to be! Bitcoin Beginners is a subreddit for new users to ask Bitcoin related questions. Hi Guys, I'm new to bitcoin mining and just got my s19j Pro + 2 days ago set up. Both the mining and marketing can operate independently but the touted benefit of the multi-level marketing is to leverage your overall Bitcoin production. That’s great, but I spent $5,940 on the Miner. The value of the bitcoin is not related to the energy you are burning. The official bitcoin mining forum / subreddit / chat room / place to be! Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Since then, nothing has changed in my mining rigs but today I make about $4 a day after electric. 1 馃摚 New supported Antminer model and several bug fixes. Bitcoin mining is savagely competitive. If you can buy bitcoins for cheaper than you can mine them, then you should buy them instead because you will end up with more. So be aware that every day your miners will slowly mine less and less bitcoin. 03 to $0. MicroBT WhatsMiner M50: This ASIC miner is designed for mining SHA-256 cryptocurrencies, such as Bitcoin and Bitcoin Cash, and has a hash rate of 126 TH/s with a power consumption of 3250 W. They also provide tips, links, and warnings on the costs, difficulties, and market fluctuations of Bitcoin mining. Same with mining with gpus. I double-dog dare you to! Jun 16, 2024 路 Welcome to the official subreddit for Bitcoin Miner - an app made by Fumb Games. Nov 19, 2021 路 Cloud mining is the super passive option where all you have to do is pay for hashrate. That's really not a good justification for mining. Users share their experiences and opinions on mining BTC and ETH with GPUs or ASICs. 99K subscribers in the BitcoinMining community. Just for reference, I looked at nicehash calculator recently and found that a rtx 3080/3090 would make about 50-55 cents per day currently, if electricity Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. This happened long before the creation of Bitcoin Cash. 28 votes, 61 comments. The official bitcoin mining forum / subreddit / chat room / place to be! When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. Bitcoin mining is a folly of diminishing returns Reply Use the report link to report any suspicious private message to Reddit. Read the guides, watch the videos, red panda mining, mining chamber, voskcoin, etc. I will say that I recently came across an app called “ember fund” that mines satoshi and that is paid out in Bitcoin. Times that by 4 if you buy 4 rigs. Miners voluntarily join a pool, and can cut and run at a moments notice to move their hash power elsewhere. You want to keep your startup cost to a minimum. Theoretically anyone can add new entries to the block chain, but the process to add a new entry requires having a computer (or many computers) run monotonous calculations over and over again. So definitely less than bitcoin mining. -Alpha network app was launched in April 2021 for Android devices, and developers aim to expand the scope of the project over 3 phases: Launching mining apps for Google play and Apple Bitcoin mining is a guessing competition. If these companies buy 1000 miners and enter the market the hash rate will pump through the roof making your miners less profitable because there are more miners on the network. My Bitcoin mining is actually just using the extra energy I already produce. Some peoples setups make them dollars a day, while others seem to make upwards of 500 a day. But everyone else pays about $7k to mine one btc. And without the massive pain in the ass. cz's pooled mining system. By contributing their computing power to the bitcoin network for mining, individuals are rewarded with newly minted bitcoins by the community. I just want us retail folk to capitalize as much as possible. Again, that is my humble opinion. . The official bitcoin mining forum / subreddit / chat room / place to be! Members Online Two Dormant Bitcoin Wallets With 49,000% Profit Suddenly Awake After 10. If many miners stop mining, the difficulty decreases, making it easier (and thus more profitable) for remaining miners. But yeah, it will show on the GPU usage in task manager if you know where your "baseline" is. 06 per KWh, unplug your ASIC miner and sell it -- it's cheaper to buy bitcoin than operate a bitcoin mining rig. I’d like to think of myself as a techy guy who would be able to set a mining rig up, but I don’t think it’s even worth it for how much they cost. It can get quite technical in there so keep your wits about you. I have an apartment with utilities included, so something I'm interested in getting a small mining rig set up. 91K subscribers in the BitcoinMining community. Configure your mining software: Configure your mining settings, including the number of threads and power usage of your rig. I've got 3x 3070's and 1x 1070 mining 24/7. I am a bot, and this action was The smartest people in bitcoin are mining bitcoin. An S19 Pro (110th) brings about 0. bitcoin. Start mining: Once your mining rig is set up and configured, you can start mining and earning rewards. Best way is that you need to ditch Norton and use Common Sense & Default protection that your OS gives you. What’s my return on investment assuming no change in bitcoin price or mining difficulty adjustment? $5,940/$61. Lastly, my real business in the desert is a vertical farm. Just from doing this I've already learned so much about ventilation, electricity, and business that I didn't know before and I will always benefit from. 97K subscribers in the BitcoinMining community. This guide aims to show that this is overly simplistic and narrow-minded in its view. Over the years /r/btc became community of historians & torchbearers, preservers of Satoshi's Bitcoin for future generations. I work for a North American BTC mining company Mining to accumulate bitcoin is like walking in zigzags, up and down mountains, through quicksand, blindfolded versus walking in a straight line. The first winter thaw (2013) wasn't because of eth; it was litecoin. I was wondering if anyone can give me a clear and valid reason why other pools are a better choice, perhaps the withdrawal fees are a potential yield sucker (I know Viabtc If you want to get into mining, check out minerstat, look for available parts, buy used/eBay craigslist if you can. Users share their opinions and experiences on whether it is worth it to start mining Bitcoin now, using GPUs or ASICs, or cloud mining platforms. If you are doing it for fun and education, then go for it! Yes! And it's more about the experience right, or we would just buy Bitcoin and wait. Litecoin was the one being touted as silver to bitcoin's gold. Come one Devs, make one of the seasons technology-based, and make one of the event mines a Bitcoin Mine. I was making over $7 a day after electric costs. . Miners are this workforce, which help to keep the infrastructure running and are paid for their services in newly minted Bitcoins. Jan 12, 2024 路 Yes. Those are the two I’ve bought Jan 12, 2024 路 Yes. You must have better reasons for mining. TLDR: Bitcoin mining currently uses ~0. I'm using puddinpop's CPU miner with mining. " He also conceived of the Bitcoin Foundation but sadly he stopped contributing in 2016 and criticize bitcoin developers for not increasing network capacity and later got involved in bitcoin cash instead. This means if you pay more than ~$0. Good luck getting your hands on one though because miner manufacturers sell their new stuff in bulk to big farms. So, my situation is unique for bitcoin mining. It works, but so far I'm getting only a couple millibitcoins per day. I suggest buying from stores like Bitcoin merch, or Newegg. Dont do it. So if you have solar panels, fine. Plan for this bull run to end. We are not a subreddit for bitcoin or other types… Feb 20, 2024 路 SUBSCRIBERS: 887,000 TL;DR: The best place to start This community is home to bitcoin novices who want to get started, and it’s a wonderful resource if you can’t tell your Dogecoin from your The difficulty of mining Bitcoin adjusts approximately every two weeks. Instead of dropping with bitcoin’s price, the pace of growth in these Reddit communities has continued to surge. In previous years, Bitcoin mining proved to be a lucrative investment option — netting miners with several fold returns on their investment with relatively little effort. Learn about the profitability, difficulty, risks and alternatives of BTC mining. Bitcoin mining companies At first it seems like it makes sense to have a small to modest amount of money in miners if you plan to take any profits in the coming cycle(all assuming you have conviction in bitcoin and cycles caused from halving's) since they are seen as a leveraged play on bitcoin. Bitcoin mining takes a lot of money to set up (a lot of money for me at least), and since everyone else also has powerful PC’s bitcoin mining has become a tough place unless you invest a ton of money in it and you aren’t gonna make much back. But mining rigs run ridiculous wattage. Those are the two I’ve bought The limited supply of Bitcoin is also one of the reasons why Bitcoin mining has become so popular. I started mining Ethereum in October. Start small, don't blow your whole load on over priced gpus, even if you can. P. House on it's own is about £10 a week, then with mining, it's an extra £30 on top each week. We would like to show you a description here but the site won’t allow us. This also provides a way to distribute new bitcoins in a fair manner. Bitcoin Beginners is a subreddit for new users to ask Bitcoin related questions. It wasn't until the thaw of 2017 that eth came out of nowhere to take the mining market. To stay profitable you have to add hardware or replace old hardware with more efficient miners. After a thorough analysis, 9 out of 10 times, the miner would have made multiples more if they would have just bought the asset they were mining with the same money they spent on the miners. You do have a chance at getting some small profitability out of AltCoins. *Do not respond to strangers direct messaging you, as over 99% of these people are Scammers. 0, how it will affect GPU mining for ETH, and is it supposed to affect BTC mining as well? In terms of hardware, should I go down the RTX road, or is it better to spend money on an ASIC miner, and which one? Aug 18, 2021 路 One miner at 240v shouldn't pull more than 20 amps. This encourages more miners to join the network, keeping the system running smoothly. The Scrypt mining arena is also quite I like that no one is acknowledging the elephant in the room - as bitcoin mining rewards drop we are dependent on BTC price going up to ensure mining rewards are sufficient to provide security. Buying used is real hit or miss. Share your memes here, as well as keeping an eye out for new updates, exclusive news, and the hottest tips! Feb 11, 2021 路 Best ways to buy Bitcoin instantly (2021): complete beginner guide (x-post from /r/Bitcoin) Apr 5, 2022 路 Right now, the best miners are worth more then new cars or if your a person of sporty taste a new corvette. Actual bitcoin mining isn't feasible on a smart phone, not enough computing power to get anything significant. bitcoin mining hardware Mining Hardware Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. The official bitcoin mining forum / subreddit / chat room / place to be! Oct 28, 2019 路 I've always been interested in Bitcoin, however I am complete beginner to mining. When some miners can't find profitability they stop mining, the difficulty drops eventually, when a lot of new miners/mining power arrive the difficulty rises Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. 8 years is a long time in bitcoin world. However it’s bitcoin, and whatever you hodl grows in value. Due to its competitive nature and unique properties, bitcoin mining leads to miners setting up or relocating its operations in areas with the cheapest sources of energy. 00051817 btc/day or about 0. Turns out, it's about $0. Be sure to keep an eye on your rig's performance and monitor your earnings in the mining pool. Just dont bother with cloud mining. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Can someone please explain what's ETH 2. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. Members Online Mining revenue forecast 98K subscribers in the BitcoinMining community. Mining bitcoin specifically isn't common with average computer hardware these days and ethereum mining has become less profitable since last year sometime (proof of stake vs proof of work). 15-17 amps are the average from my limited research. Costa Rica produces 98% of its energy renewably, and electricity is eighteen times more expensive than in the cheapest places in the middle east. Iran was mining 8% of all bitcoin a little while ago, it may be slowing down now due to conflict with Israel, but that was 8:1 over-represented vs its population size in the world. pnrgojxpkgjbbykrjjspzzflpbbcsmbtxjbwzpptijhgfhwzbeqkdnnd