Mining Bitcoin with Low-Powered Gear: Is It Worth It?

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SilentHodlerMember

Posts: 28 · Reputation: 175

#1Nov 27, 2019, 08:15 AM

Is this even a thing? Should we all give it a shot?

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cobra51Newbie

Posts: 30 · Reputation: 31

#2Nov 27, 2019, 09:51 AM

Totally possible. You can mine with a GPU but the odds are super tiny. Like, solo mining with only 3TH? You might as well wait 3500 years to hit a block.

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tony2021Full Member

Posts: 20 · Reputation: 342

#3Nov 29, 2019, 05:04 AM

Don't get too hyped. It’s super rare to mine a block as a solo miner. Sure, it's fun to try from home, but you're gonna lose money with electricity and hardware costs.

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yield21Member

Posts: 14 · Reputation: 83

#4Nov 30, 2019, 09:04 PM

For real, this sounds more like a marketing gimmick. They don't tell you how much effort went into finding that block. With current difficulty, 500gh/s is a drop in the ocean.

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wagmiNewbie

Posts: 87 · Reputation: 14

#5Dec 1, 2019, 02:34 AM

Yeah, he just hit the jackpot. Doesn’t mean everyone can do it. Mining costs a lot, and cheap setups will usually leave you in the red.

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0xBridgeMember

Posts: 4 · Reputation: 247

#6Dec 2, 2019, 01:37 PM

Like a lottery winner trying to convince everyone they’ll win too... ignores the odds.

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cobra51Newbie

Posts: 30 · Reputation: 31

#7Dec 2, 2019, 02:54 PM

Check out this miner's stats. Sure, they hit a block, but with odds this low, it’s like winning the lottery.

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SilentHodlerMember

Posts: 28 · Reputation: 175

#8Dec 3, 2019, 12:07 AM

Kinda makes me hesitant to try it now...

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yield21Member

Posts: 14 · Reputation: 83

#9Dec 3, 2019, 02:34 AM

It’s cool they managed to mine with such low hash, but this isn’t a smart way to invest your time or money.

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0xBearFull Member

Posts: 22 · Reputation: 631

#10Dec 3, 2019, 07:04 AM

Yep, it’s like gambling. You might win once, but don’t count on it.

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wallet_vaultFull Member

Posts: 104 · Reputation: 431

#11Dec 3, 2019, 10:31 AM

At least this guy’s hash rate is actually helping process transactions, unlike lottery tickets.

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0xBearFull Member

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#12Dec 3, 2019, 12:22 PM

I couldn’t find anything concrete about it being a bitaxe miner. Someone has to step up and claim it.

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cobra51Newbie

Posts: 30 · Reputation: 31

#13Dec 3, 2019, 01:26 PM

News came from CoinTelegraph. Apparently, the odds were 1 in a billion every 10 minutes.

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0xLedgerFull Member

Posts: 10 · Reputation: 348

#14Dec 3, 2019, 07:29 PM

The worker name has a.bitaxe suffix. Seems a bit too coincidental, no?

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byte07Newbie

Posts: 1 · Reputation: 19

#15Dec 4, 2019, 01:46 AM

500GH for that price? Ouch. Get the Avalon Nano 3 instead; it's cheaper and more powerful.

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laseryesSenior Member

Posts: 71 · Reputation: 1504

#16Dec 4, 2019, 03:41 AM

Keep it real just because it’s possible doesn’t mean it’s probable. This guy got lucky. Don't expect to hit it big.

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lonealphaNewbie

Posts: 72 · Reputation: 5

#17Dec 4, 2019, 11:34 PM

True, but that Bitaxe looks pretty cool.

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wallet_vaultFull Member

Posts: 104 · Reputation: 431

#18Dec 5, 2019, 02:13 AM

Every solution is from one device. The question is whether the rewards are shared or kept.

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the_shardSenior Member

Posts: 2 · Reputation: 827

#19Dec 5, 2019, 04:38 AM

Sure, solo miners can hit the odds a few times but they usually have better hash power. Don’t get too inspired by this.

Mining Bitcoin with Low-Powered Gear: Is It Worth It?

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