Hey, I'm kinda new to this, is mining still a way to earn Bitcoin?
Getting Started with Bitcoin Mining
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Yeah, you can definitely earn BTC, but honestly, it's way cheaper to just buy it. Like, everywhere.
First off, what's your electricity rate? Got to be under 10 cents per watt. And do you need a space heater?
If you need heat, and your power's cheap, look into getting a modified S19 XP miner. It's around 600 bucks and mines about 35 TH, giving you roughly $1.75 a day.
Bitcoin? Super easy to buy, but mining? That's a different story.
WildMatrixNewbie
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#6Nov 20, 2020, 06:41 PM
As a newbie, remember two things: cheap electricity is a must and you need cash to start. Mining's not really feasible anymore for most people.
SwiftMatrixNewbie
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#7Nov 20, 2020, 08:58 PM
I don’t think anyone can strike it rich mining now. You might go small, and if you need heat, then it's worth a shot.
proto_hawkFull Member
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#8Nov 20, 2020, 10:10 PM
Check out the Avalon Mini 3. Not gonna make you rich, but it’s something. Just don't think you can fill a container with 100 miners and compete with the big guys.
HumbleGuruFull Member
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#9Nov 22, 2020, 01:17 AM
Wait, did you mod your miner? Can you mine BTC one hashboard at a time?
If you live somewhere warm and your power's high, mining's just a hobby, not a money-maker. You might try altcoins if you want, but good luck getting ROI.
mark.viperFull Member
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#11Nov 22, 2020, 02:37 AM
The market’s rigged against the average Joe. Companies like BitFury pay like 3 cents per kWh and get all sorts of tax breaks. Unless you know someone in the government, you're at a disadvantage.
So, you’re saying Bitcoin's price won’t be affected by inflation? Investing from a high-inflation country could be risky.
How do you attach pictures here?
silentwolfMember
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#14Nov 23, 2020, 08:36 AM
Just use a site like talkimg.com. Drag your image there, upload it, copy the link, and paste it here.
jak3_hodl3rNewbie
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#15Nov 23, 2020, 06:24 PM
I really hope that newbie who asked the question comes back and shares what happened. He got some solid replies.
I just got into Bitcoin this year. I’m mining because I wanna learn how it works. Got free energy from my roof solar setup, so I figured why not?
WildMatrixNewbie
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#17Nov 24, 2020, 02:56 AM
Wow, those old miners are overpriced. I see them in Russia for like 20-40 bucks, usually sold in lots.
Anyone heard of that guy mining with old smartphones? Is that even worth it?
The hardware's not powerful enough to make any decent profits. You’d probably just end up paying more for electricity.
Yeah, that’s not really Bitcoin mining. It’s more like click mining some lesser-known coins, but the rewards are tiny.