Invested in crypto mining rig?
- Thread starter Rukos_48
- Start date
I am wondering how is it possible for the same people to care abut environment and support the use of bitcoins.
Quoted for truth. The days of casual mining are gone, they were replaced by people running walls of graphics cards which were replaced by industrial level setups in countries with access to cheap electricity.
First, you cannot make money by mining even with the newest equipment given hydro costs in Canada. Second, why the government increase fuel tax to make ecology better but does not impose the "green tax" on the mining and use of Bitcoin?
. I am wondering if the environmentalists ever will protest such energy waste.Except that the "coin" does not add to the total welfare but requires physical resources and contributes to pollution ("green" energy is not 100% green). So, by definition, coin mining is purely a resource waste from the society point of view. But I feel that your post was a sarcasm (I maybe getting old or there are too many idiots on the site, but I am not sure anymore if some posts are sarcastic or not).
QC n alberta have the cheapest power .10kwh i run 54 gpus out of which 9 r 5700xts , 6 5600xts n rest r mixed between 580sn 570s my total power usage per day is about 250kwh per day including my house n rigs my bill is usually 700-800 per month thts about 25$ a day take out 10bux for my house power so total power used by my rigs is about 15$ a day and income as of today is 121$usd for 1680mhs u can put tht in a online calc n see how much tht makes for mining ethereum, as for my holdings like i said i started in 2016 difficultly for mining was lower so i mined more coins and jus held them and as of today theyr worth 94kFirst, you cannot make money by mining even with the newest equipment given hydro costs in Canada. Second, why the government increase fuel tax to make ecology better but does not impose the "green tax" on the mining and use of Bitcoin?
Newwer graphics cards have higher hashrates so better returns , the
More the overall hashrate for a coin goes up so does the difficulty to mine that coin , so the more people start mining the the less of tht coin ul mine cuz of difficulty
Or you get your electricity access at the source of generation. Some guy feeding right off the dam at Ocean Falls, BC.
It's doesn't work like that. You have to upload your data in a mining pool but that doesn't mean you get rewarded for every work. It's like a lottery system. Your pool could be awarded just 1 Bitcoin and you have to divide that amongst the people in your pool. If you are a big enough operator, you can obviously just pool within your network but if you are alone. You have to join a pool.
You can go at it alone and get the price all to yourself. But this means you have to wait longer and you won't be able to take advantage of other people's hashing power (processing). If you do go at it alone, mine altcoins so the wait time is reduced. If you don't want a miner but also don't want to speculate on coin. Try defi and lend your hodled coins instead of keeping it in cold storage. I'd be happy to help you out man, it helps me to because the more people uses the systems. The more valuable the blockchain becomes.
I understand mining takes up energy, but what are we comparing it too? Our current financial system and currency does way more harm and consumes way more energy than bitcoin. So what? We're gonna stop doing something that's better because it's not perfect?
I probably disagree with the guy above, who said that you will lose more electricity than you will earn on this.
If you have about two or three powerful graphics cards, you can make a profit from this. The main thing is to know what to mine and when to sell or trade it!
My colleague recommended me to try it https://www.moonbitcoins.com/ and I'm currently mining without video cards. However, in the past, I have been mining cryptocurrency with my own farm. I had several 2080 graphics cards and they did a great job. However, I sold them for certain reasons. But I managed to get about $ 8,000 out of them.
If you have about two or three powerful graphics cards, you can make a profit from this. The main thing is to know what to mine and when to sell or trade it!
My colleague recommended me to try it https://www.moonbitcoins.com/ and I'm currently mining without video cards. However, in the past, I have been mining cryptocurrency with my own farm. I had several 2080 graphics cards and they did a great job. However, I sold them for certain reasons. But I managed to get about $ 8,000 out of them.
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