Shinichi Izumi
Senior Member
- Jul 5, 2019
- 956
- 443
really does people still do that it feels like you throw me back to 2011 man most now are using cloud mining options which is more reliable i guess
Anthony Lamper
Newbie
- Sep 18, 2019
- 14
- 1
How could we do For example?
I have many powerful Paused VPS.
Anthony Lamper
Newbie
- Sep 18, 2019
- 14
- 1
How are they reliable?
theeyeinside
Senior Member
- Aug 19, 2014
- 963
- 867
Do you actually understand what Bitcoin mining is?
Crypto mining with a CPU earns nothing
Even using the ASIC machines at Bitmain.com will earn you nothing
ALL Bitcoin mining calculators are a fraud because for every watt of power you burn, you need at least 1.5 watts to COOL the machine. They never calculate cooling costs so besides the rigged difficulty always increasing, your power costs are always at least twice what you think you need to break even.
Do you actually think that the chinese would sell you something that would earn you money rather than them just doing the mining themselves?
Cryptocurrency is a ponzi scheme for the rubes
It was never about Bitcoin. It was about creating an infrastructure that would allow the wall street pirates to run casinos betting on the price movement of the coin.
96% of Bitcoin is owned by 1000 addresses (whales). That means that EVERYTHING everyone trades in Bitcoin is around 4% of of the market. Can you see that the market is totally controlled and that it is a large fraud?
Sincerely,
TheEye
Crypto mining with a CPU earns nothing
Even using the ASIC machines at Bitmain.com will earn you nothing
ALL Bitcoin mining calculators are a fraud because for every watt of power you burn, you need at least 1.5 watts to COOL the machine. They never calculate cooling costs so besides the rigged difficulty always increasing, your power costs are always at least twice what you think you need to break even.
Do you actually think that the chinese would sell you something that would earn you money rather than them just doing the mining themselves?
Cryptocurrency is a ponzi scheme for the rubes
It was never about Bitcoin. It was about creating an infrastructure that would allow the wall street pirates to run casinos betting on the price movement of the coin.
96% of Bitcoin is owned by 1000 addresses (whales). That means that EVERYTHING everyone trades in Bitcoin is around 4% of of the market. Can you see that the market is totally controlled and that it is a large fraud?
Sincerely,
TheEye
I think you've got your answer, if it was that easy crypto would be doomed.
Cloud mining will never be profitable, but I've ran a real mining facility a few years ago with some success and you need capital investment with extremely favorable electricity costs to make it worth while.
The hobby miners with a few running out of their garage mostly loose money cause residential electricity rates are not profitable to run the. machines. If you are below $0.05 per kW, you should be able to break even with the newer machines out now.
Cloud mining will never be profitable, but I've ran a real mining facility a few years ago with some success and you need capital investment with extremely favorable electricity costs to make it worth while.
The hobby miners with a few running out of their garage mostly loose money cause residential electricity rates are not profitable to run the. machines. If you are below $0.05 per kW, you should be able to break even with the newer machines out now.
Shinichi Izumi
Senior Member
- Jul 5, 2019
- 956
- 443
@Anthony Lamper use google to din cloud mining platforms and as i know most of VPS providers trusted ones i mean block this actions because it consumes a lot of CPU/GPU and may damage their servers
Nobel Laurete
Regular Member
- Oct 14, 2019
- 201
- 97
This is so untrue.
- Sep 10, 2010
- 11,814
- 26,655
This answer should be stickied in the crypto currency section.
Nailed it!
By the way, even if electricity came free; the depreciation cost of the hardware should be substantial enough to be in the calculation.