If YOU would like to be on a CRYPTO PING LIST, please pm me.
The Crypto Ping List covers the following:
Bitcoin
Ethereum
Other coins built on the Ethereum blockchain, mining
etc.
Thanks! For it - or ag'in it, it'll be a wild ride.
Posted on 01/27/2022 7:06:07 AM PST by aMorePerfectUnion
One miner just earned over $215,000
Most ordinary people haven't been able to mine Bitcoin at a profit for years. As the difficulty of mining the cryptocurrency has increased, most rewards have gone to massive operations that rely on a bunch of incredibly powerful machines. But solo miners with relatively weak setups have found success in recent weeks using USB-based mining rigs.
The most recent example comes from a solo USB miner participating in "solo.ckpool.org," which purportedly offers "no frills, no fuss 2% fee anonymous solo bitcoin mining for everyone." The miner solved a block with a rig that had a hashrate of approximately 8.3 terahashes per second (TH/s) and earned more than $215,000 worth of BTC. The types of USB miners used are available from retailers like Amazon and Bitcoin Merch (when you can find them in stock).
[more at link, if interested]
If YOU would like to be on a CRYPTO PING LIST, please pm me.
The Crypto Ping List covers the following:
Bitcoin
Ethereum
Other coins built on the Ethereum blockchain, mining
etc.
Thanks! For it - or ag'in it, it'll be a wild ride.
Crypto PING!
[I’ve never done any mining, but if you have, please share some info and answer questions if you have time...]
Link goes to a photo only.
Watched a Dr. Phil show about it the other day and did a little research in the form of seeing what Clark Howard said about it and I came away not impressed.
What can you buy with it??
Also, fox is reporting that the highly intelligent new mayor of NYC just lost a tidey sum in bitcoin.
That link gave me a prompt to open or download a file. No web site.
Please post the correct link.
Thank you
Anything you can use a credit card for - and by transferring it to your checking account, anything you desire and can afford.
Post #4 on this thread has the correct link
It’s so much simpler to just withdraw paper cash from your bank and light it on fire.
A close friend of mine is an import/export broker. He just completed a large shipment of bitcoin miners from Singapore. He assumes that his customer plans to use them himself because they were all headed to Eastern Washington where electrical power is the cheaper than anywhere else in the country.
Looks like purchases are a bit limited to me..according to this article from last October eBay and Amazon are saying no thanks to crypto.
https://www.investopedia.com/what-can-you-buy-with-bitcoin-5179592
See my post # 5...the guy on Dr Phil arguing against crypto said its gambling and to just go to Vegas instead...the food is better. Lol
We had a guy on a forum I’m on who was an early miner. He was up in Montreal, under Hydro Quebec, and similarly had really good electric rates for his mining rigs.
“Anything you can use a credit card for - and by transferring it to your checking account, anything you desire and can afford.”
What is the ‘transaction fee?
You can convert any crypto currency to fiat currency at an exchange and then deposit the cash into your checking account.
These guys are the reason you have to pay $100 over list for a used 6 year old mid grade graphics card.
I mine Ethereum and Lite coin. About to get into mining Helium.
Mining generally works like this:
- Identify a coin you want to mine
- Buy the appropriate hardware (ASIC or GPU)
- Configure and get working (pay attention to power and cooling)
- Miner deposits rewards to crypto wallet (I use Jaxx)
- When you want to turn into cash, go to a crypto exchange (I use Kracken) and transfer from wallet to the exchange and sell.
- Send USD to your checking account
Things to consider to correctly model your costs vs profits
Cost of the miner
Cost of the electricity (dont forget heat management)
Cost of the exchange/conversion fees
Can you make money mining, yes. But like all businesses, you have to KNOW your business model.
Depends on how you liquidate
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