BITCOIN MINING PLATFORMS
- Thread starter Optimaxx
- Start date
D
Deleted member 1333509
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There are none really. You won't make much mining BTC with less than 100K, buying and holding in a bull run is infinitely more profitable.
HustleTong
Elite Member
- May 30, 2019
- 13,466
- 10,660
Mining isn't worth the hassle. Potential is much more dependant on GPU than any other factors. Most people fail to take this into account.
Accept BTC in exchange for services online and hold.
Accept BTC in exchange for services online and hold.
Globus1976
Newbie
- Feb 9, 2021
- 2
- 0
Now bitcoin hits 48000 dollars hh, i would like to mine bitcoin any suggestions. ,thinks
alurosu
Elite Member
- Jun 16, 2020
- 2,188
- 1,658
Keep in mind that your rewards get lower and lower as time goes on. So next month your profits might not be as much as you expect. It's all based on network difficulty. That was my biggest drawback when I mined. In my calculations I didn't expect the rewards to decrease so fast, from one month to another.
blackbeans
Elite Member
- Nov 29, 2008
- 9,247
- 4,806
Unless you're running cheap GPU farms in ICELAND or somewhere super cold, your mining rig farm is going to get very expensive
cerebration
Power Member
- Mar 9, 2018
- 678
- 515
Bitcoin mining is done using ASICs, not GPUs for quite some time now.
Globus1976
Newbie
- Feb 9, 2021
- 2
- 0
I wander if there is any app that you can use to mine from the phone
alurosu
Elite Member
- Jun 16, 2020
- 2,188
- 1,658
There isn't. Phones are too weak and they heat up way too fast for BTC
shiboshy
Elite Member
- Dec 17, 2011
- 4,607
- 2,308
Do you have experience mining Monero? I also want to see other's opinion on this topic.
Adriana Chan
Junior Member
- Jan 12, 2021
- 170
- 119
cerebration
Power Member
- Mar 9, 2018
- 678
- 515
I don't, but I don't see how mining Monero is different than mining any other coin.
Just answer yourself this question - Am I mining for dollars or am I mining for coins?
If you're mining for dollars - you should mine whatever coin brings the most $ per day profit and you should sell the coin every time you pass the payment threshold.
If you're mining for coins - you're essentially investing in the coin for X price (which is usually below the CURRENT market price). You're also utilizing a dollar-cost averaging investment strategy (Google it).
Now if you're mining for coins, you should do your research and decide which coin you should mine (read - buy), because you're essentially betting that the price of this coin will raise and sooner or later, you will sell for (more) dollars.
Also, mining should be considered a mid-term investment. Even though with current prices your equipment will pay for itself in the next 6-9 months (if mining for dollars), you should probably be mining for 1-3 years.
If you're not familiar with cryptocurrencies and investing in general, the safer approach would be to mine for dollars.
If you think you can find a coin, which is undervalued and that in 1-3 years it'll cost more than it costs today (or at least the same amount), you should be mining for coins. Keep in mind that when mining, accumulation of coins happens overtime which might cause you to miss an economic/price/trade cycle. If you've a more short-term/trading/gambling approach to cryptocurrencies, you might be better of directly buying the coin and holding until you decide the moment is right to sell.
ADA is better. They have positive signals at the moment
Optimaxx
Regular Member
- Nov 8, 2019
- 315
- 168
There was a "friend" of mine who invested ~$3500 on one of the platforms. He would not run any computer or CPU or anything. He would get paid ~280$ every month. I never understood how that system worked. All I know is that it was a company from one of the Bribaltic countries. Also, he was able to withdraw that amount in BTC anytime.
Does anyone know that what kind of system this could be?
Does anyone know that what kind of system this could be?
- May 27, 2016
- 11,265
- 2,556
Most detailed explanation of mining ever. You sir are gold!