[uncensored-r/Bitcoin] Is Bitcoin mining worth it?
The following post by IDidReadTheSideBar is being replicated because the post has been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7hitmn The original post's content was as follows:
From what I've seen, it seems to be many on the fence of mining. Is it worth to spend a few bucks on a mining machine? Furthermore, more so of a curious question. How much Bitcoin can be mined with one machine in a given time? Thanks!
So, I know that a lot of people used R9 290X's and R9 290s to mine bitcoin a while ago. I know it's kind of futile to try and profit off it, but if I were to say just mine bitcoins to say I mined bitcoins would it be worth it?
Okay so i've got a COINTERRA TerraMiner powered by GolsStrike... This doesn't mean anything to me as i dont understand bit coin mining etc... but i can have this bit coin miner up for 300 pounds a month thats just paying for the amps that it uses, i dont need to rent space or anything as my family own the data center. I want to set it up but everyone is advising me against it as apparently it makes no money atall... Is it really worth putting this up for a month or two or not?
“Oy vey is it hot! I should just head back to the desert am I right? Anyways I have an investment lined up bubby. Have u heard of bitcoin? A close associate of mine Jon mcafee says 1 coin will be worth a mil in a year. So I say we start u out w/ a 10k initial Investment & then play it by ear.”
3. Bitcoin Mining Hardware CPU mining. When Bitcoin first started out, there weren’t a lot of miners out there. In fact, Satoshi, the inventor of Bitcoin, and his friend Hal Finney were a couple of the only people mining Bitcoin back at the time with their own personal computers.. Using your CPU (central processing unit—your computer’s brain) was enough for mining Bitcoin back in 2009 ... The electricity cost involved in mining a single bitcoin is more than $3,000 in the cheapest states. For states with higher electric rates, you could spend more than $6,000 in electricity to mine a single bitcoin. With the cost of one coin hovering at $7,000 as of December 2019, the energy costs alone don't make it worth it. The State of Bitcoin Mining Today. Bitcoin mining today is dominated by mining farms, large Bitcoin mining operations with thousands or tens of thousands of ASICs (specialized mining devices) all under one roof. These operations benefit from economies of scale as well as the financial acumen to hedge their operations using futures and options. Mining bitcoin now demands more computational power than ever before, with mining difficulty reaching a new high of 17.35 trillion, up 9.89% from the previous record posted on July 1.. The new ... Bitcoin mining began as a well paid hobby for early adopters who had the chance to earn 50 BTC every 10 minutes, mining from their bedrooms. Successfully mining just one Bitcoin block, and holding onto it since 2010 would mean you have $450,000 worth of bitcoin in your wallet in 2020.
Is Bitcoin Mining Profitable RIGHT NOW In Early 2020 ...
April 2020 Update - https://youtu.be/ymdQaRXXmBg January 2020 Update on my Crypto Mining Farm at my Apartment. I'll be going over my mining rigs, my cpu rig,... #bitcoin #cryptocurrency #cryptocurrencynews Is Bitcoin (BTC) Mining Worth It January 2019? Profitable Or Not Profitable? Bitcoin mining profitability and best ASICS to mine bitcoin in 2019, this ... WANT FREE STOCK FAST? CLICK LINK And CLICK "SIGN UP NOW"! 💲💲💲 http://join.robinhood.com/jareds7 ALL VIDEOS ARE ONLY REPRESENTATIVE OF MY OPINION. ONLY INVEST... Graphics card stock has long been tapped out due to cryptocurrency miners, but does what they're doing make any sense? Let's find out. Sign up for Crunchyrol... Is mining Bitcoin BTC still profitable in 2020? Let's review mining profitability, Bitcoin, Bitcoin Cash, and Bitcoin SV. Block reward halving, network diffi...