Mining Requirements

[Bitcoins_Forever]

I dont recomend buying a bitcoin. The price has been decreasing for much time now.

[cozk]

I dont recomend buying a bitcoin. The price has been decreasing for much time now.

Flawless logic. rofl.

[jonnybravo0311]

I dont recomend buying a bitcoin. The price has been decreasing for much time now.

Tell you what, I'll gladly sell you one of mine for $1000.  It'll make you feel better since it's a high price!

[afriezalie]

Hello,
recenty i got 64gb dedicated server
i want to run mining on that . is it possible ??

any requirements ?

I don't recommend it. You will not get as much as your monthly cost, except you have a powerfull GPU inside your dedicated server. Now people have moved from CPU mining and GPU mining era, so even you have a dedicated server, you will not get a huge ammount. I recommend you to buy an ASIC miner if you want to mine. But you must be aware with your electiricty cost

[Amph]

I dont recomend buying a bitcoin. The price has been decreasing for much time now.

that's is exactly the reason to buy bitcoin, or you are telling me that you buy high/sell low, i would  not be surprised...

mining is miles ahead worse then buying right now

[muhrohmat]

well in my point of view i mean like if no one mines even in cloud it requres more time for those confirms to get no? soo we better promote the cloud mining sites that are good and do mine for confirms like those of 49% of all mining bitcoins

[Muhammed Zakir]

well in my point of view i mean like if no one mines even in cloud it requres more time for those confirms to get no? soo we better promote the cloud mining sites that are good and do mine for confirms like those of 49% of all mining bitcoins

There won't be such day as "no one mines" because if no one is mining, a person with comparatively less hashrate can mine a block and I am sure he/she will give it a shot. Also, if no one mines, the difficulty decreases, so a person obviously mines ASAP.

Cloud mining companies doesn't need us to buy hashrate for mining, they do it themselves even if we don't buy. When we buy, they get upfront/promised ROI and we take risks.

[avatar_kiyoshi]

well in my point of view i mean like if no one mines even in cloud it requres more time for those confirms to get no? soo we better promote the cloud mining sites that are good and do mine for confirms like those of 49% of all mining bitcoins

There won't be such day as "no one mines" because if no one is mining, a person with comparatively less hashrate can mine a block and I am sure he/she will give it a shot. Also, if no one mines, the difficulty decreases, so a person obviously mines ASAP.

Cloud mining companies doesn't need us to buy hashrate for mining, they do it themselves even if we don't buy. When we buy, they get upfront/promised ROI and we take risks.

That's right exactly about cloud mining, that's why recently new cloud mining company builded. And most all used ponzi scheme(in the end scam)

[ranochigo]

Hello,
recenty i got 64gb dedicated server
i want to run mining on that . is it possible ??

any requirements ?

Useless. Run a full node maybe. Google it.

If you are going to run a full node on a high end dedicated server, my advice is: don't do it.

Full nodes usually don't need high bandwidth nor specs to run on. I ran mine on a 6 core AMD for a month and it barely used 20% of all the cores. The bandwidth was around 200gb too. Reselling it would be a much wiser choice as it could yield more profit and possibly pay it off.

[oxiyusuf]

so how much hash can be gain with 64gb dedicated server?

[Amph]

so how much hash can be gain with 64gb dedicated server?

servers are useless for mining, and certainly ram does not matter, you need a powerful asic to mine properly, or gpu if you're in the altcoin scene

[Anirban Sarkar]

Minning doesn't require system storage it depend on graphic card!!

[CoinTop]

Mining is basically dead best to just buy your bitcoins.

[snailcoin]

Is cex.io still viable?

[Muhammed Zakir]

Mining is basically dead best to just buy your bitcoins.

Untrue. Mining is still possible and profitable if you have enough money to invest.

Is cex.io still viable?

They stopped their cloud mining service. Now it is just a trading platform.

[ranochigo]

Mining is basically dead best to just buy your bitcoins.

Untrue. Mining is still possible and profitable if you have enough money to invest.

Large capital is pretty much just the small part of the equation for profit in mining. These are the remaining:

• Electrical cost

- the cost of running a farm is high. With high electrical cost, ROI is not possible

• Land cost

- If you want to make profit, you need to make it big scale. You probably would have to rent a warehouse. It has to have low rental rates to maintain the highest profit possible.

• Ambient temperature for the whole year

- if you live in the colder area, you wouldn't need much exhaust fans thus saving electricity.

• Salary cost

- You would probably have to hire someone to look for the ASICs in the warehouse.

• Supplier of ASIC

- You would need to find a supplier who can deliver fast and at low price to get into the game early this increasing chances of ROI.

[planetroving]

This is what I think, so it might be totally wrong. I think that the days of Bitcoin mining are almost gone, with the difficulty so high, the network hashrate so high, that it makes mining to get your share of a block a task and a half to achieve. Altcoins seem to be the ones to go to for mining. But with the amount of scamcoins on the rise, it's hard to find one that is doing well in the market. What I do is go on a site which compares all (or the most popular) cryptocurrencies and displays them in descending order for which one gives the most profit, lowest difficulty, etc. From there, you can find the coin that mine and be able to get profit from. A site I recommend is http://www.coinwarz.com/cryptocurrency

[Aggressor66]

Mining is basically dead best to just buy your bitcoins.

The future of mining looks good, since it depends on two things with which we already have had good luck. Firstly, the companies that constructed ASIC units will need to continue building more efficient machines at more reasonable costs. Secondly, the value of cryptocurrency will need to continue to rise, like transaction volume does, in order to provide better compensations to more and more miners. It will solve an existing problem with the difficulty increases and the block reward halving which will take place within the next few years.

[notlist3d]

Mining is basically dead best to just buy your bitcoins.

It's not fair to say this.   It is very individual on if you can mine.  You have to have low priced electricity, most likely no vat.  But it can be done.

It's come to the time where what I like to call "smart miners" can prosper.  Things such as knowing when to sell old equipment. When to underclock a machine to get better efficiency. 

[HasherHub]

What about POS (Proof of Stake: https://en.bitcoin.it/wiki/Proof_of_Stake)  requirements.
The CPU/GPU power will count for the stake process or just the amount of Bitcoin a miner holds? 

As of right now there is no Proof of Stake system in bitcoin.