You say you cant mine bitcoin with your pc meaningfully... i disagree, help me!

[coinforlife]

Ok, I want to pick your brains, everyone says, including the posting rules here, that you cant meaningfully mine bitcoin for profit on a pc, BUt, i can get about $1,20 per gpu 1080ti per day. Now if bitcoin reaches 100,000 in the near future, which is very possible no-one can tell me it is impossible. Then that $1.20 per gpu could be a serious profit just like when it began. When they started mining bitcoin it was worthless and people told them they were wasting their time. A Few years later many of them are holding valuable wallets. Profitability calculators are missing an important category... future value.

I think its a bit harsh for everyone to push the theory that mining is useless. Also, most mining softwares pay you out in bitcoin so even if your mining monero, you are actually mining bitcoin when all is said and done.

Ill appreciate your big brains and input.
Just here to learn and you guys are the teachers.

Thank you

[1714846679]

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[1714846679]

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[Steamtyme]

There is no way that your 1080ti is mining 1.20$ a day of BTC.
Mining is not dead it is alive and well, you just have to use an Asic if you want to mine BTC. Other than that your GPU can go mine any altcoin out there some of them profitable.

I think its a bit harsh for everyone to push the theory that mining is useless. Also, most mining softwares pay you out in bitcoin so even if your mining monero, you are actually mining bitcoin when all is said and done.

No you still aren't mining BTC. You are trading coins for BTC there is a difference.

This is the best thread I have to help people learning to mine BTC - https://bitcointalk.org/index.php?topic=4636521.0

[HagssFIN]

This is altcoins mining,
the end of story.

[rdluffy]

If you want to mine BTC, you have to look for Asics man
You can mine with GPUs and change for BTC

But if you are counting on a BTC price's rise, why not buy directly on some exchange, move to your wallet and wait?

[Metroid]

You can mine bitcoin with any gpu or cpu, go ahead and if by luck you find a block that is a lot of money. Never underestimate the power of luck, you can take billions of billions of billions of billions of years to find a block or few seconds.

[nc50lc]

You can mine bitcoin with any gpu or cpu, go ahead and if by luck you find a block that is a lot of money. Never underestimate the power of luck, you can take billions of billions of billions of billions of years to find a block or few seconds.

Or buy a lottery ticket.
The chance of winning is literally multiple times higher than solo mining Bitcoins using GPUs.
@coinforlife Those who have a similar mindset aren't mining "professionally" really.
They aren't taking every aspect in account, just speculating the possible future isn't "meaningful" at all.
Of course, that's a bonus if it happened.

[Metroid]

You can mine bitcoin with any gpu or cpu, go ahead and if by luck you find a block that is a lot of money. Never underestimate the power of luck, you can take billions of billions of billions of billions of years to find a block or few seconds.

Or buy a lottery ticket.
The chance of winning is literally multiple times higher than solo mining Bitcoins using GPUs.
@coinforlife Those who have a similar mindset aren't mining "professionally" really.
They aren't taking every aspect in account, just speculating the possible future isn't "meaningful" at all.
Of course, that's a bonus if it happened.

Oh yes any lottery in this world would be easier, millions to one x billions of billions of billions of billions to one.

[adaseb]

Speaking of lotteries.

There is a BTC pool called ckpool and they got a solo mining section where if you actually find a block you get like 99% of the reward sent to you. Its not a real pool because its a solo mining pool without the headache of running the software client.

A few years back I had an ultra-silent Antminer S3, I had it in my office pointed to it, hoping that my S3 would be the first S3 to find a block on that solo pool, after many many months (or a year) I never hit a block. I think my largest diff was like 1,000,000,000 or so.

This was years ago when the bitcoin difficulty was much lower than today, today I think you would be better off playing an actual lottery than solo mining BTC.

[Alpha0One1]

The odds of winning the lottery is way, way much better than mining a bitcoin block if you are solo mining.
Thanks for sharing your experiences in solo mining.

[Metroid]

Speaking of lotteries.

There is a BTC pool called ckpool and they got a solo mining section where if you actually find a block you get like 99% of the reward sent to you. Its not a real pool because its a solo mining pool without the headache of running the software client.

A few years back I had an ultra-silent Antminer S3, I had it in my office pointed to it, hoping that my S3 would be the first S3 to find a block on that solo pool, after many many months (or a year) I never hit a block. I think my largest diff was like 1,000,000,000 or so.

This was years ago when the bitcoin difficulty was much lower than today, today I think you would be better off playing an actual lottery than solo mining BTC.

And your antminer S3 is thousands times faster than any cpu. I find it funny trolls used to leave celerons mining btc or eth solo. Celeron uses 65w, trolls as always, mindless creatures.

[huntingthesnark]

Ok, I want to pick your brains, everyone says, including the posting rules here, that you cant meaningfully mine bitcoin for profit on a pc, BUt, i can get about $1,20 per gpu 1080ti per day. Now if bitcoin reaches 100,000 in the near future, which is very possible no-one can tell me it is impossible. Then that $1.20 per gpu could be a serious profit just like when it began. When they started mining bitcoin it was worthless and people told them they were wasting their time. A Few years later many of them are holding valuable wallets. Profitability calculators are missing an important category... future value.

I think its a bit harsh for everyone to push the theory that mining is useless. Also, most mining softwares pay you out in bitcoin so even if your mining monero, you are actually mining bitcoin when all is said and done.

Ill appreciate your big brains and input.
Just here to learn and you guys are the teachers.

Thank you

Just sit down, make a nice cup of tea and think about what you just typed: "Profitability calculators are missing an important category... future value." How would you go about defining future value?

Secondly, confusing mining bitcoin directly with a GPU and mining an altcoin and exchanging it (for a fee) for bitcoin is a dangerous game in total confusion. It's the equivalent of saying your day job pays you in beer, cos that's what you buy with your wages - it's simply not true.  

[Metroid]

trolls fail to understand that if bitcoin hits 100k then any money used to mine it would be worth many times more if had bought the coin directly. Mining bitcoin is only worth if its price does not rise.

Here is an example, I don't mine, I buy coins, my friend used to mine, so 2 cases, lets see what happened in 2017. As I had all my money in coins, I had no hassle or anything, so I waited as the bulltrend was getting bigger and bigger, my friend sold his coins and bought hardware, that hardware gave him 50% his investment in 6 months, my coins in those 6 months gave me 600%. End of story, my friend does not mine anymore and said he never will, best thing wait for trends and go all in. Buy coins when nobody buys and sell coins when nobody sells but respect trends, catching a falling knife in a trend is not a good thing, stabbing a trend is also not a good thing, need to calculate the damage whatever path you choose.

[NeuroticFish]

It's not uncommon that some altcoin miners convert automatically into Bitcoin without comprehending what they actually mine.
This doesn't validate OPs theory and this doesn't make the initial statement (that one cannot meaningfully mine Bitcoin with his PC) invalid.

Also in mining the current value is to be taken into account. The future value is about speculation/investment, which can be done with mined or bought Bitcoin in the same way.


As a conclusion: OP should read more, to get to the point he understands the things he's writing about.

[rdluffy]

Ok, I want to pick your brains, everyone says, including the posting rules here, that you cant meaningfully mine bitcoin for profit on a pc, BUt, i can get about $1,20 per gpu 1080ti per day. Now if bitcoin reaches 100,000 in the near future, which is very possible no-one can tell me it is impossible. Then that $1.20 per gpu could be a serious profit just like when it began. When they started mining bitcoin it was worthless and people told them they were wasting their time. A Few years later many of them are holding valuable wallets. Profitability calculators are missing an important category... future value.

I think its a bit harsh for everyone to push the theory that mining is useless. Also, most mining softwares pay you out in bitcoin so even if your mining monero, you are actually mining bitcoin when all is said and done.

Ill appreciate your big brains and input.
Just here to learn and you guys are the teachers.

Thank you

Just sit down, make a nice cup of tea and think about what you just typed: "Profitability calculators are missing an important category... future value." How would you go about defining future value?

Secondly, confusing mining bitcoin directly with a GPU and mining an altcoin and exchanging it (for a fee) for bitcoin is a dangerous game in total confusion. It's the equivalent of saying your day job pays you in beer, cos that's what you buy with your wages - it's simply not true.  

If you think about future value, why not buy the coins directly?
Like Metroid said a hundred times, you can buy your coins, and hold, if you´re mining for future prices, you're doing wrong

[coin-investor]

Ok, I want to pick your brains, everyone says, including the posting rules here, that you cant meaningfully mine bitcoin for profit on a pc, BUt, i can get about $1,20 per gpu 1080ti per day. Now if bitcoin reaches 100,000 in the near future, which is very possible no-one can tell me it is impossible. Then that $1.20 per gpu could be a serious profit just like when it began. When they started mining bitcoin it was worthless and people told them they were wasting their time. A Few years later many of them are holding valuable wallets. Profitability calculators are missing an important category... future value.

I think its a bit harsh for everyone to push the theory that mining is useless. Also, most mining softwares pay you out in bitcoin so even if your mining monero, you are actually mining bitcoin when all is said and done.

Ill appreciate your big brains and input.
Just here to learn and you guys are the teachers.

Thank you

I'll still prefer buying Bitcoin than mining it, of course, Bitcoin could reach to that price, but why not making it hard for you to accumulate Bitcoin when you can get that buying, participating in bounty campaign or trading altcoins, mining is for hobbyist only if you are a hobbyist and an speculator then continue what you are doing.

[acidrush]

Ok, I want to pick your brains, everyone says, including the posting rules here, that you cant meaningfully mine bitcoin for profit on a pc, BUt, i can get about $1,20 per gpu 1080ti per day. Now if bitcoin reaches 100,000 in the near future, which is very possible no-one can tell me it is impossible. Then that $1.20 per gpu could be a serious profit just like when it began. When they started mining bitcoin it was worthless and people told them they were wasting their time. A Few years later many of them are holding valuable wallets. Profitability calculators are missing an important category... future value.

I think its a bit harsh for everyone to push the theory that mining is useless. Also, most mining softwares pay you out in bitcoin so even if your mining monero, you are actually mining bitcoin when all is said and done.

Ill appreciate your big brains and input.
Just here to learn and you guys are the teachers.

Thank you

You can mine with nicehash with your 1080ti and get paid in bitcoin.

[huntingthesnark]

Ok, I want to pick your brains, everyone says, including the posting rules here, that you cant meaningfully mine bitcoin for profit on a pc, BUt, i can get about $1,20 per gpu 1080ti per day. Now if bitcoin reaches 100,000 in the near future, which is very possible no-one can tell me it is impossible. Then that $1.20 per gpu could be a serious profit just like when it began. When they started mining bitcoin it was worthless and people told them they were wasting their time. A Few years later many of them are holding valuable wallets. Profitability calculators are missing an important category... future value.

I think its a bit harsh for everyone to push the theory that mining is useless. Also, most mining softwares pay you out in bitcoin so even if your mining monero, you are actually mining bitcoin when all is said and done.

Ill appreciate your big brains and input.
Just here to learn and you guys are the teachers.

Thank you

Just sit down, make a nice cup of tea and think about what you just typed: "Profitability calculators are missing an important category... future value." How would you go about defining future value?

Secondly, confusing mining bitcoin directly with a GPU and mining an altcoin and exchanging it (for a fee) for bitcoin is a dangerous game in total confusion. It's the equivalent of saying your day job pays you in beer, cos that's what you buy with your wages - it's simply not true.  

If you think about future value, why not buy the coins directly?
Like Metroid said a hundred times, you can buy your coins, and hold, if you´re mining for future prices, you're doing wrong

Indeed. My point is that creating a calculator that incorporates 'future value' is quite an undertaking - you may as well ask for a tool that predicts the lottery numbers, or the winner of the next Grand National.

It's basically shouting 'I want a magic wand' at the internet...

[swogerino]

I think that you answered yourself when you say that you will make money when bitcoin will go 100.000 dollars.I am one of the persons doing the same,I have mined at a loss and now I am mining in profit with Rx series cards.

Mining is more alive than ever now with the bitcoin price over 9000 dollars.