Cessnaflyer
Wooooooooooooooooooooooooooooooo
I wish I was smart enough to figure out mining. I have 12 computers in the office that sit idle for about 80% of the year. It would be nice to put their minimal processing power to work.
Bitcoin/Ethereum/Litecoin
- Thread starter mrivc211
- Start date
drunkenbeagle
Gang Member
You would just lose money on electricity. Custom CPU ASICs and FPGAs have been doing the mining for a few years now.
Cessnaflyer
Wooooooooooooooooooooooooooooooo
We are at $0.045 a kWh but yeah the computers wouldn't be efficient for the task.
drunkenbeagle
Gang Member
I nearly got talked into dumping a few grand into mining rigs back in 2011... Had I only been such a sucker. But I still think it is a dutch tulip scenario.
typhoonpilot
Well-Known Member
Just remember the Dubai property bubble. Sell while the selling is good.
z987k
Well-Known Member
The article refers to the stock issued by "The Crypto Company". Not bitcoin. Obviously the SEC has nothing to do with bitcoin itself.
Cessnaflyer
Wooooooooooooooooooooooooooooooo
Perfect time to bail today. Since June my money has grown 6x.
z987k
Well-Known Member
I got out at $2200. I purchased some Stellar Lumens....at .11
Gonna ride that for a while. 3-6 months target is $5-10
I actually see some value in the startups trying to do what these guys are. Which one will win out of the hundreds is the question.
Itchy
Well-Known Member
So did you?
Would love to try mineing, but the antminer 9.0 is in such demand, the $1500 device is selling for 6K, *IF* you can find one. From what I can tell, at the current price, yeilds about $800 to $900/ month -1000kwh of juice. I can see how they might get addictive. If bitcoin crashes, you are left with expensive and ineffective anchors.
Roger Roger
Bottom of the list
So what are we REALLY calculating with all that computing power aimed at bitcoin mining? Is it a ruse to help NASA with FTL travel equations or cold fusion or cure cancer? Or are we literally spending imaginary money to compute imaginary numbers to get ourselves more imaginary money?
Itchy
Well-Known Member
In a nutshell, imaginary money. However, it can be converted to real money. I was just talking with a friend who bought 6 coins when they were $300 a piece. He is wondering pop them now, or will they go to a million?
To set up the powersupply properly, it has to be connected to 220 volts. And, it sounds like a vacuum cleaner apparently. Run a 220 line out to the shed?
Itchy
Well-Known Member
From my little bit of research on the web, the only feaseable way is with dedicated machines. The hash rate is simply WAY to slow even with a top end machine. You need an ASIC based machine. Application specific chips. 190 of them.
Prino
Well-Known Member
Do some research on Jed McCaleb. (if you don’t know who he is). He’s the reason my money is on ripple and not Stellar
Cessnaflyer
Wooooooooooooooooooooooooooooooo
Yeah, I sold it before coinbase closed down for the day.
Stryker172
Well-Known Member
All these digital currencies, how do you even buy them? More importantly how do you sell??
Cessnaflyer
Wooooooooooooooooooooooooooooooo
I used coinbase. Even I could figure it out with them.
Stryker172
Well-Known Member
Ive read some less than stellar reviews, have you had any difficulties in your experience?
Cessnaflyer
Wooooooooooooooooooooooooooooooo
No, just takes a long time to receive funds.
