Bitcoin Forum

Hi guys and girls!

I'm doing a paper for school on bitcoin mining and the main focus is going to be about the costs and profits of bitcoin mining.

I would greatly appreciate if anyone that has been or is involved in bitcoin mining would like to answer some questions. :)

Here is the form for you to fill out:

https://docs.google.com/forms/d/1G4W1wBTV_NPKp6S3iLUBrfb7s2REA9llYh8Pc1l8BAM/viewform?usp=send_form

I greatly appreciate any answer, as this would help a lot in my research. :)

If some of the questions sounds a bit awkward, it's because swedish is my mothertounge.

And, if you have any questions for me, please let me know.

Best regards
/Robin

Filled out the form. Hope my answers were helpful. Good luck!

Here's my answers that I submitted.
1- 1 Year.
2- 0 unit.
2a- Just my computer
3- I don't pay for it
4- Zero, I don't pay for it.
5- With only my pc just 0.01 btc ;D
6- I'm saving them.
6a- It's not but I'm planning a local business.
7- I'm planning to buy some little solar panels to power up phones etc to mine bitcoin :)

Maybe you should research the creator of bitcoin too, I think your paper would be an interesting read.

I didn't read the questionnaire, but here's my answer to one question.  Who buys ASICs?

ASICs are bought by people who have no financial sense.  They throw tons of money at devices that are known to depreciate incredibly fast.  In 6 months an ASIC is only worth less than half of its new price, if you are lucky.  With rapidly increasing difficulty, the return on investment for any ASIC plummets, plus they lose their own value, and in less than a year, people find that they very stupidly pissed their money away on the latest gee-whiz gadget and have little to show for it.

I have been telling people for over a year and a half now to not buy ASICs, and they refuse to listen to me. 

I have money in the bank, and they are explaining to their wives why they just took $10,000 out of the kids college fund.  And will be lucky to put $2000 back in it.

The only people who win with ASICs are the people selling them.  DON'T BUY AN ASIC!!!!!



ASIC manufacturers - you should consider paying me off to not release a study I have been compiling that will convince people to not buy your products.  PM me.

I've bought ASICs and have made my money back and then some. And I also have the option of selling the miner to get even more money for it. So while I do believe you have good intentions, blanket statements such as this are incorrect. It all depends on people's circumstances.
I paid for my most recent ASIC in Bitcoin in July. I recouped that investment mid November. I'm making pure profit now. I also don't pay for electricity since it's included in my rent. My situation nullifies your blanket statements.

I answered but I got my asic's off ebay. All broken and I repaired them.