Bitcoin Forum

What is the main reason you mine bitcoin?

I like to look at numbers  :D

Multiple choice might give a better picture. I can see at least 3 choices in the poll that apply equally to me.

I love mysterious looking electronic devices with blinky lights. I guess that falls under fun.

I'm trying to +ROI on my $150 USB erupters.

For profit!!!!! The profit is superb when I first calculated (like 400% return in a year). I later understand more about Bitcoin difficulty and I fell off the chair.

 :'( I truly feel sorry for you mate.

Yes but the question is the MAIN reason

To make btc

To earn money, extra heat when I need it and showing off :)

lol

Used to be for profit, but ive recently given up :(

For profit! But very complicated.

Still have a little profit after deducting electricity bill, once it pass that I would have to shut down :(

I mine a few altcoins for fun and to sell them if they ever get on a exchange, but mostly fun.

For profit, but have given up and now trying to break-even.

I don't mine Bitcoin, haven't since July.  I mine LiteCoin and make money.

And to everyone who voted anything other than "to make profit"  ... what a steaming pile of BS.  You are here to make money, or you wouldn't be here.  Or you're an idiot with more money than brains.  In which case you should give me money. 8)

Well, some people bought USB eruptor just to try out knowing that they would never ROI.

If I ever want to try out a USB Eruptor, I'll go on YouTube, find a video of someone unboxing their Eruptor, and piggyback off their experience while KEEPING MY MONEY!!!!! ;D

I was originally doing it just for fun, but as time went on, I was doing fairly well and set myself the goal of getting a new computer and maybe some mining hardware out of the deal. Been mining since Feb and just completed my goals yesterday with the arrival of the last of my computers parts (still waiting of mining hardware, guess who I bought from ;) ), so I will call it a (mostly) win.

Started for profit, but now I realizing I just securing Bitcoin network.

I'm one of them too

I'm one of them three...

I run...  12345.......13 USB Block Erupters. Why? Just for fun. I love the Bitcoin idea and the community and to motivate my existence in it, i have to mine. Building the set up and all is rewarding in itself. I did ROI so i'm about +-0 over all. I'm not doing it to get rich. I'm doing it to stay a part of the community.  ;D

Paying a bunch of money for Erupters....... watching them hum away...... knowing you'll never get your money back on them...... yeah, that sure sounds like fun to me....... ::)

For both fun and profit. I discovered bitcoin when I was looking into upgrading my graphics card (for gaming). I was leaning towards NVidia back then

I ended up buying a 7870 XT that was decent for SHA256 but terrible for scrypt. Lucky ::)

I since bought a used 6950 for 80€ that already paid for itself.

mining for profit and learning

You can also stay in the community by buying some Bitcoin right? :)

Absolutly

For fun and profit!  ;D

Profit, I wouldn't do it for fun as its troublesome, hot and noisy.

I obviously just don't get it.  Maybe I'm old (43) and uncool, and not "in touch" with today's youth, so explain to me one thing....

Watching a bunch of Erupters hum away, making heat, knowing it's a money losing deal -- where is the FUN in that proposition?

Having said all that, I'm the youngest, coolest, and hippest 43 year old you'll ever meet.  I've been 30 for 13 years now! ;D

I have to admit I got into it originally for profit but yes there are way too many chefs in the kitchen.  The issue is exacerbated by the fact almost all significant HW coming online now is from preorders that are finally being delivered.
If these weren't preorders and direct purchases I'd expect the hash rate would be beginning to plateau as most equipment can never cover their costs unless the price of bitcoin goes through the roof, in which case it would be a better investment buying coins at sub £100 anyhow.

Even the new future 28nm versions are looking a piss poor investment, yes they will outlast my archaic 65nm chips but there are so many people mining (and soon to mine) to try and recoup their costs that it may never warrant the outlay for these pricey kits as the GH/$ running costs ratio is only marginally better.

Perhaps the next paradigm shift will be someone figures out how to do an inverse SHA256(SHA256(x)) and we can all throw the equipment in the bin as the bitcoin proof of work protocol is swapped out for an even harder problem to solve.

I like the flashy light  ::)

Why still mining? According to the selling chart and some open-secret of the searching cost, the searching cost if proper tuned, I think it is better to be mentioned in detail via PM. It is still better to mine on or before 202X (when under than 10 per block, then there may be no more chance to get the profit in fiat or in other measurement)

I don't think it has anything to do with age, I'm 60 and i get it. For me this is a fun Hobby. I don't watch the erupters per say. I enjoy watching the performance of my equipment on the pools i mine on. I enjoy watching the number of bitcoins i have increase even though they come no where near the value of the fiat i've spent on this. I enjoy reading and writing in these forums based on my interest in Bitcoins. If i wasn't mining, I doubt i would find the topics here anywhere near as interesting as i do.

1) Profit
2) is the only way to justify having a password cracking *cough* farm to my fingertips when I need it  ;D
3) fun
4) more profit

So far for me, has been profitable, I won't say I can live off this, but it represent a decent percentage of my income.

When I heard about bitcoin I already had some big ass GPUs that I use for password cracking *cough*, and I heard about bitcoin, investigate it, and I love it, so Yes I am for the money but also, I use it as a currency, not just exchange for fiat, I believe it is the future.

Mostly now just for fun, I don't pay for electricity here so I leave my eruptor's running, no reason to turn them off.  The amount they pump out is amazingly low however.

On the plus side they are a great conversation starter when I have friend's over!  I've taught many people about bitcoins after they see my little USB setup.

For fun and education purposes...

Can I suggest add to poll ;

" I ordered from BFL , so ah , you know...... I decided to get into sport instead.  "

: D

Profit....

At first it was about profit. But later became for fun and education purposes.

Mining helps motivate me to build an energy neutral computer system that could potentially generate revenue. (So I guess its a hobby.  ;D )

I have a large used tractor battery (heavy as all hell), solar panels, inverters and now I'm trying to build a low watt mining rig with wifi (the rig is in an out building).

I'm checking out the Rasberry Pi units atm...

Stopped mining when it was time to sell my GPU farm. Never got in to asic mining because it was predictable it couldnt be profitable (on average) for miners. May get in to mining again once the current storm has passed and mining becomes a razor thin margin but somewhat predictable venture again. Probably 6-9 months from here.

Me too, plus it keeps my office nice and toasty.

For Bitcoin duhhhh and for profit :)

Nice pool, I dont mine and will never start.

The hashing units just cost too much

For profit, but looks like the more people aiming for the profit, the worse it is....

Well, bought 1 USB erupter just for education purposes. Not going to ROI i know :)

For the heat :), and its pretty addicting once you start mining..

Profit, I don't believe people spend few K and not want to profit?

For profit! Turned out mining wasn't the way to go about it :-P
Would have made a dew quid by now I'd I hadn't been scammed outta 8btx when they were at $130 :-(

Haha, same here, never knew mining would have been like this....

My calculations tell me I can make more money selling my BFL SC Single on eBay than by mining, but I just can't bear the thought of parting with it!  So I guess my real motivation must be for the fun of it.  I love being a Bitcoin miner!

Mostly I mine because around here the best I can get is part-time work at some piddly 7.25hr, mining offers a significant boost to my income.

Trying to buy a new car and fund my games I'm designing.

Profit, mining is suppose to boost my income and not reduce.... Since now the Bitcoin price is increasing I have a better time break-even since I paid in USD....

To extract maximum value from sunk costs.

It's a hobby that is paying for itself. I've made back my purchase price on my Jally, I got to overclock it and pay that off, now I'm going to toss another pair of chips into it and see what happens. Best case I pay off my investment on my Aoyue air tools.

If it fails, no big loss.

C

I had block erupters before my avalon. They are absolutely useless, dont bother with them :)

Indeed, 300mh is pretty much useless. Right now I'm turbo-boosting my Jalapeno from 5gh to 24gh for about $125. Should be able to double my money on it, but that's about it.

C

Was for profit, but right now sold off all my machine and hold bitcoin only :)

How did you turbo boost your jalapeno with $125?

Chips are/were going on Ebay for $22 a chip+3 shipping or so. 4 chips is about $100.

Then I needed to buy an ATX power supply, $25 there. I have the Aoyue air heat SMD rework station, and I did have to spend $5.00 for a tube of flux.

With all that I plan to put two more chips on the Jally CPU board, fire up and test, then add two more to the other side so I am running 6 chips in a pair of 3 row maticies.

The issues are power (solved by the bigger power supply, the power supply sold as a part of this is a joke, need 12 volts at 8 amps or so at least) and heat. I'm going to put the resuting system in the shed for the winter (in case it burns up) but I think the fan plus <40 F temps should keep it under 65c (which is what the um... singles seem to run at).

We shall see.

C

adrenaline BTC  ;D

 ???

hipnoze BTC,biozombie need eat


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