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Author Topic: questions out of interest  (Read 161 times)
gvb
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November 23, 2017, 11:29:09 PM
 #1

Hello,

I just signed up here after spending some days to read a lot of info here.
Thanks for all the threads and responses which is a good source of information.

Unfortunately I'm still having some questions as some threads/replies seem to contradict with each other.

While years passed by and hardware got faster and faster and speeds going from H > KH > MH > GH > TH
I read in a lot of threads that it is still not profitable to do some local mining with 'normal' hardware.

If this is the case why do some members waste their time to create these GH mining sticks?

If it ain't profitable for bitcoin will it then be profitable for something else?

When I did a search to liteCoin(?) and dogecoin(?) I bumped onto a list of over 1300 types of virtual coins.
Can all of them be mined with these asic miners? (exept Etheureum?)
And which one is worth mining and can be trusted besides Bitecoin?

So slightly summerized... Is there still a future for 'household' mining?
(without the need for really expensive hardware that need more power than the induction plate where you cook on)

Sorry if this is incorrectly placed in the bitcoin mining section as it covers bitcoin, others and hardware.
So feel free to move it if needed.
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estanislao1994
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November 24, 2017, 12:35:26 AM
 #2

The profit you get in mining would depend on how good you are with you resources. For example, in China their electricity is very cheap. The main cost would be your "rig" which is your computer set up plus your video cards. Next would be the electricity bill. Mining takes a lot of electricity to function properly. If you already have a mining rig, and your electricity is very cheap, the return of investment from the cost of the rig would be around 7 months. After that, it would be profit for you. I have tried mining myself and if you're interested, hit me up with a message and I can show you my rig and expenses.

Regards,

gvb
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November 24, 2017, 08:27:30 AM
 #3

Thank you for your reply.

Unfortunately I'm living in Belgium.

While the price per Kw might be 'ok' most of the costs are the 'transport' and especially the taxes.

Ideal would be to use these low power usb sticks instead of a set of high wattage GPUs.

'Worst case' skip the bitcoin idea and mine something else.

But I don't know if that is worth the effort.

Wipro
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November 24, 2017, 11:14:27 AM
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Thank you for your reply.

Unfortunately I'm living in Belgium.

While the price per Kw might be 'ok' most of the costs are the 'transport' and especially the taxes.

Ideal would be to use these low power usb sticks instead of a set of high wattage GPUs.

'Worst case' skip the bitcoin idea and mine something else.

But I don't know if that is worth the effort.



If you buy high power ASIC machines or video cards like 1080ti to have GPU mining. You profit range will be higher bro. When you go the purchase you should be afford for customs duty and taxes before you receive to your location as well.
You should skip the bitcoin mining option because it is only one worst to invest in bitcoin related platforms.
For electricity issue you should go with in the any domestic area which can good to start the mine with the low electricity cost.

Giamme
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November 24, 2017, 11:25:40 AM
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The profit you get in mining would depend on how good you are with you resources.

Regards,

Very smart words.

A couple weeks ago I saw a video about these Siberian guys who made a concept house that mines Bitcoin for 400$ a months that heats the house. Obviously it's not a big house but the idea is smart and shit this idea if put to use can give Bitcoin great decentralization. That's a multiple win-win situation. Somethin like win-win3  Cheesy

gvb
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November 24, 2017, 11:56:51 AM
 #6

@wipro:

"You should skip the bitcoin mining option because it is only one worst to invest in bitcoin related platforms."

Well that is kind of my point.

You can invest thousands of euros in hardware and you never know you'll make it to 1 bitcoin.

So I think it's more wise to mine something else with cheaper hardware and see how that goes before investing even more.

In some video there was someone who replaced his rack of GPU's with these USB sticks
so would that be a good start?

I guess you can get a few of these sticks for the price of 1 good GPU, not?

Problem seems that a lot of these 'producers' either stopped making them or their sites are down so it's hard to follow everything.
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