Bitcoin mining reddit. Oct 7, 2023 · Mining Subreddits r/BitcoinMining.

Bitcoin mining reddit 002 bitcoins. Say it costs $10 to mine $11 worth of bitcoin/gold. The app is available on playstore and apple. If you want to do more, look to increase existing equipment hashrate or find new (cheaper) equipment. 03 to $0. 56/month would take 8 years to pay off the Miner. Same with mining with gpus. Behind the two mining pools controlling 51% of the global hash rate Only two pools were responsible for mining more than half of Bitcoin's blocks in the second half of December. It seems Bitcoin miners like Jihan Wu, Roger Ver and Calvin Ayre will be leading research into renewable energy to make their mining operations more profitable. I bought a used Antminer S9 SE for $899. 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. The logical candidates for Bitcoin mining in the long run are energy companies with excess energy they are unable to store or transport it (i. 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. Indeed, the break-even price for operating an S19 miner is expected to exceed $50,000 after the halving event. D4DJ (Dig Delight Direct Drive DJ) is a multimedia project by Bushiroad. The official bitcoin mining forum / subreddit / chat room / place to be! Well done you uncolored shoes, I love Bitcoin and the technology around it. Active Mining. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. That’s great, but I spent $5,940 on the Miner. Plug your wallet into your pool’s website and after about 20 minutes, you should see a hashrate to know you are connected and mining. Bitcoin Beginners is a subreddit for new users to ask Bitcoin related questions. 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. * 14 votes, 22 comments. Bitcoin mining will compete, head-on, with battery technology (when it finally catches up) as the 2 main tools available to energy grids for stabilisation. This is the Bitcoin mining subreddit so I assume you are only buying Bitcoin mining rigs and no other altcoin miners. That's really not a good justification for mining. Turns out, it's about $0. Don’t waste your money on buying a computer for mining, just buy an S9 for 100$ and call it a day And to get nicehash you simply go on Google and type in nicehash. Learn about the profitability, difficulty, risks and alternatives of BTC mining. I was tempted to do something similar as well. * Members Online For discussion about Litecoin, the leading cryptocurrency derived from Bitcoin. That's why I'm looking for a simple solution with cloud mining. Hello everyone, I'm wondering if anyone here has experimented with using residential solar power for Bitcoin mining. The official bitcoin mining forum / subreddit / chat room / place to be! Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Have a few laying around and wondering if it's worth mining on them Galaxy S6, Galaxy S7, Galaxy S8 Google Pixel I already own crypto-currencies, have done some research on stablecoin farming and now I'm interested in cloud mining. However it’s bitcoin, and whatever you hodl grows in value. I am a slow ape who loves crypto. And without the massive pain in the ass. Again, that is my humble opinion. 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. I just want us retail folk to capitalize as much as possible. Profit is $11 (+1100%). This also provides a way to distribute new bitcoins in a fair manner. Idk if you even can mine Bitcoin from your phone. The 98K subscribers in the BitcoinMining community. 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. Save the edited text so your wallet and worker name is in place and double click the application and it should start mining. This is a surprisingly large Bitcoin Mining subreddit with over 30 000 members discussing the various aspects of mining bitcoin. I just finally got my rig all set up. Your gear is too old. 06 per KWh, unplug your ASIC miner and sell it -- it's cheaper to buy bitcoin than operate a bitcoin mining rig. Been mining for 2 months or so and have accumulated about 0. 04 per kWH. You’re 10 years late for btc mining with a normal computer. 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. *Do not respond to strangers direct messaging you, as over 99% of these people are Scammers. You must have better reasons for mining. I have an NVIDIA 3090 and 3070 and am looking to mine eth or raven… Due to efficiency concerns, many miners are upgrading to the latest mining rigs in anticipation of the upcoming Bitcoin halving. r/CryptoMining Dec 1, 2024 · The official bitcoin mining subreddit to ask questions about GPU mining or why EU ditched its plan to ban bitcoin mining, share pictures and videos on liquid cooling solutions for miners for personal & small customers, and more. Hi, new to mining. You are buying the profit (variable) minus costs (fixed). I also buy about $200 bitcoins a month on top of that and looking to slowly expand my operations. ASICs tend to monopolize mining to a few big players, but GPU mining means anyone can mine again - restoring decentralization and independence. -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. You will be throwing good money down the drain as you are already underwater. Members Online Mining revenue forecast Mining increases the bitcoin network's security and fights fraud by calculating what's effectively a checksum for transactions. Parts to get the power set up properly cost an additional $500. 93K subscribers in the BitcoinMining community. 00051817 btc/day or about 0. Even the most performant gpus don’t make more than 30 cents per day mining shitcoins. The official bitcoin mining forum / subreddit / chat room / place to be! Mining stocks produce leveraged returns over the underlying asset, whether it's gold, silver, or bitcoin. . I ran a fairly large hydro powered mining operation for a few years starting in 2015. Maybe I missed the post you're replying to, but all of the mining for Bitcoin happens before you obtain the Bitcoin the blockchain that is The Ledger has nothing to do with the Bitcoin mining. I have an excess of around 5000 kWh per year from my solar setup, which I'm considering using for BTC mining instead of feeding it back into the grid. 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. 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 NiceHash is a Bitcoin centered platform, providing a complete ecosystem of mining and BTC payment services with the goal to accelerate Bitcoin adoption worldwide. This is the 2021 roadmap Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. If you are mining for the long term (5+ years) during which you will not be cashing out any BTC mined, you should talk to your accountant about a c-corp which qualifies for qualified small business stock (QSBS) treatment. Because you can solve problems and not get any Bitcoin so it was like mining for diamonds or gold or any other mineral. Mining. Once all of the above is setup, you are good to go. GPU mining rewards go to individuals worldwide, instead of mostly to ASIC warehouse owners, recreating network effects that Bitcoin used to have. So be aware that every day your miners will slowly mine less and less bitcoin. It mainly is known for the anime (D4DJ First Mix) and the recently released mobile game (D4DJ Groovy Mix). This is not financial advice. It actually really works, it's the current new way of mining new crypto currency and distribution of airdrops, you can join "bondex origin", a great mining app with lots of potentials. An S19 Pro (110th) brings about 0. This means if you pay more than ~$0. I will say that I recently came across an app called “ember fund” that mines satoshi and that is paid out in Bitcoin. Tough to find legit estimates of what I can get. What’s my return on investment assuming no change in bitcoin price or mining difficulty adjustment? $5,940/$61. Some people are very negative as well Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. I suggest to not spend any more fiat on the mining setup you describe. I've been trying to determine the worthwhile-ness of mining apps. Oct 7, 2023 · Mining Subreddits r/BitcoinMining. Ethermine Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. As such, it is more resistant to wild inflation and corrupt banks. Unfortunately some people look at mining just from a profit point of view, forgetting other things. 0155/month. zero marginal cost of energy) Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. They also provide tips, links, and warnings on the costs, difficulties, and market fluctuations of Bitcoin mining. Times that by 4 if you buy 4 rigs. I buy & sell old phones - get them from friends, repair busted ones and resell or keep the ones I like. You are competing against professional miners who earn a decent profit by paying just $0. 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. 95K subscribers in the BitcoinMining community. I love mining. Dont do it. I don't live in a country where electricity is affordable, I don't want to maintain all the hardware/software and I don't really have time for all that. 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. It can get quite technical in there so keep your wits about you. 8 years is a long time in bitcoin world. 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. 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 We would like to show you a description here but the site won’t allow us. Edit: …or buy bitcoin outright r/gpumining: The community of GPU mining enthusiasts, both professionals and hobbyists. BTG is still being developed. Miners are this workforce, which help to keep the infrastructure running and are paid for their services in newly minted Bitcoins. 91K subscribers in the BitcoinMining community. 03/kWh so only $15. Use B5OD8 as your referral code. 81/month. 👍 Because miners are so sensitive to electricity prices, they are often a driver pushing utilities to further develop renewables which are now the cheapest source of energy. Mining is used as a kind of slang. e. Litecoin is developed with a focus on speed, efficiency, and wider initial coin distribution through the use of scrypt-based mining. That's $1 (10%) profit. By contributing their computing power to the bitcoin network for mining, individuals are rewarded with newly minted bitcoins by the community. 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? Users share their experiences and opinions on mining BTC and ETH with GPUs or ASICs. 12 votes, 21 comments. The asset doubles in price to $22 (+100%). Often you mine other coins but you’re paid in Bitcoin. Foundry and Antpool are what's behind the mining behemoths and is Bitcoin really as centralized as it looks. So definitely less than bitcoin mining. nmj nzbyu hnmm sdhc rxtwk dozufyn kpmzjg rokriuhc xvmqce llnrm