Home Mining: Is It Worth It?

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nickbyteFull Member
Posts: 1 · Reputation: 380
#1Sep 9, 2019, 12:32 PM
Hey everyone. I’m curious if these home miners actually work or if they're just gimmicks. What are the chances of mining a block with one of these devices? Any tips for what to look out for? I heard someone mined block 888737 with a home setup.
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planktonHero Member
Posts: 1287 · Reputation: 2049
#2Sep 11, 2019, 05:46 AM
Honestly man, just don’t mine. The odds are stacked against you. Home miners have a super slim shot at getting a block. It’s really not worth the potential fallout.
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pr0to88Member
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#3Sep 11, 2019, 06:31 AM
Listen to fuzz he knows what he’s talking about. Just stay clear of mining and you’ll avoid trouble.
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john2011Full Member
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#4Sep 11, 2019, 07:40 AM
Yes, they work. But chances are low. Bitaxe 601 seems decent, I wouldn’t stress over it too much.
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m1kes4tFull Member
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#5Sep 11, 2019, 07:55 AM
Think of it this way, you could end up in jail before making any real money. It’s a huge risk for a tiny reward.
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gang2015Member
Posts: 693 · Reputation: 62
#6Sep 11, 2019, 09:47 AM
Sure, it works. But lower hash efficiency and higher costs compared to bigger ASICs. Check out solo chance for probabilities, but don’t expect to hit a block with just one device. And be careful about drawing attention.
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planktonHero Member
Posts: 1287 · Reputation: 2049
#7Sep 11, 2019, 10:02 AM
If you're still set on mining in your area, skip the Nerdminers. They’re basically toys with their low speed. Most pools won’t even accept them, you need something way more powerful.
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samoracleSenior Member
Posts: 12 · Reputation: 804
#8Sep 11, 2019, 12:21 PM
Home mining seems better nowadays, so if you’re feeling brave, go for it.
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pr0to88Member
Posts: 1223 · Reputation: 235
#9Sep 11, 2019, 05:50 PM
Dude, you basically told them to break the law.
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samoracleSenior Member
Posts: 12 · Reputation: 804
#10Sep 11, 2019, 09:52 PM
Lol I totally missed that part about their country. Yeah, definitely don’t mine if that’s the case.
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paulmaxiSenior Member
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#11Sep 11, 2019, 10:53 PM
Always keep local laws in mind before diving in.
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#12Sep 12, 2019, 04:20 AM
If mining could land you in jail? Just don’t do it. You clearly don’t have solid OPSEC if you’re asking here.
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topbl4stFull Member
Posts: 120 · Reputation: 562
#13Sep 12, 2019, 07:43 AM
I was gonna suggest the canaan mini 3 as a solid home miner, but then I realized you’re trying to fly under the radar. Why even bother if it’s illegal where you are?
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atlas51Member
Posts: 549 · Reputation: 40
#14Sep 12, 2019, 12:17 PM
If you go mining with an ASIC like that, good luck getting your money back. You’re looking at a long payback period, not worth it unless it’s cheaper.
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cyberbitMember
Posts: 183 · Reputation: 68
#15Sep 12, 2019, 03:12 PM
Yeah, it’s just not worth the risk unless you’re cool with potentially facing jail time. There are easier ways to profit in crypto that don’t draw attention.
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Posts: 3546 · Reputation: 35
#16Sep 12, 2019, 04:07 PM
If you really want to mine, maybe think about moving. There are options out there.
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