are there any benefits to mining, without generating bitcoin?

[RDxRDz]

hi there,
as a small time BTC holder, it seems to be the right thing to do, to run a full bitcoin core node.

anyway,  would there be any benefits,  at all,  to running a very low cost & power consumption BTC miner, where we're not really expecting to generate any BTC?

many thanks
RDz

[1715206686]

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[1715206686]

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[1715206686]

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[Dread Pirate Roberts]

hi there,
as a small time BTC holder, it seems to be the right thing to do, to run a full bitcoin core node.

anyway,  would there be any benefits,  at all,  to running a very low cost & power consumption BTC miner, where we're not really expecting to generate any BTC?

many thanks
RDz

If you read pinned thread in mining board BITCOIN MINING INTRO & RULES OF THIS SUBFORUM - READ BEFORE POSTING

Read point 3 and summary

TL/DR Summary:
 - You CANNOT meaningfully mine bitcoin with your PC or laptop no matter how powerful it is.
 - You CANNOT meaningfully mine bitcoin with your tablet or phone no matter how powerful it is.
 - Mining apps for your phone or tablet that claim to mine bitcoin are almost certainly scams.
 - You CANNOT find software here to mine bitcoin with your PC by itself.

i can't quote his post because its locked thread

Then if i was you and want starting to mining some crypto coin. i would like to suggest you start with some altcoin and you will familiarize your self about mining  block size . hash power and anything about mining. you can visit ANN altcoin thread here
 
Announcement ( Altcoins )


Some of those altcoin could be had  great value or had no value at all it depend what coin you choose . but this option i think would be the best option if you really want starting try mining some crypto.

[ranochigo]

anyway,  would there be any benefits,  at all,  to running a very low cost & power consumption BTC miner, where we're not really expecting to generate any BTC?

Negligible. If you don't find a block within the time that you're running the ASIC, you're not doing anything that is contributing to the network at all.

[CrazyMiner69]

anyway,  would there be any benefits,  at all,  to running a very low cost & power consumption BTC miner, where we're not really expecting to generate any BTC?

Negligible. If you don't find a block within the time that you're running the ASIC, you're not doing anything that is contributing to the network at all.

Huh do you actually know what an ASIC is? This guy just wants to run it on his pc..

I wouldn't do it, why would you do all the effort (on your pc) and bandwidth etc, if u don't get any profit from it? That's why ppl mine, cuz then you actually do get a profit.
That being said I can recommend you something that might be suitable to you.

[ranochigo]

Huh do you actually know what an ASIC is? This guy just wants to run it on his pc..

Yes, Application Specific Integrated Chip. Low cost and low power consumption doesn't go in the same sentence when you're talking about a PC, most PCs would go up to 200Watts underload at least. My 2Pac runs on a USB port.

I wouldn't do it, why would you do all the effort (on your pc) and bandwidth etc, if u don't get any profit from it?

Mining does not incur significant bandwidth.

[mikeywith]

you're not doing anything that is contributing to the network at all.

I have to disagree, most miners today can't statistically find a block for the duration of their lifespan and decades beyond, many many people run small 1 terahash and lower USB miners, those add up together and make the blockchain more secured and they improve the resilience of the network.

Huh do you actually know what an ASIC is? This guy just wants to run it on his pc..

Mind quoting the part which he mentioned about using his PC? I can't find it, his post states the following.

anyway,  would there be any benefits,  at all,  to running a very low cost & power consumption BTC miner, where we're not really expecting to generate any BTC?

OP, you can point your miner to a solo pool like Cksolo, and think of this as playing the lottery and your way of supporting the network with a tiny bit of hash power.

[ranochigo]

I have to disagree, most miners today can't statistically find a block for the duration of their lifespan and decades beyond, many many people run small 1 terahash and lower USB miners, those add up together and make the blockchain more secured and they improve the resilience of the network.

Yep, you've got a point but that would be contributing marginally, even a smaller percentage when you're talking about the individuals. A single S9 would be worth 100s of those USB miners. Statistically speaking, most of the solo mining pools barely gets a block in a few months (I think CKPool only got a few blocks last year?). A single person cannot make that much difference, which is why I said it's negligible.

I think most people solo mine purely as a lottery for profits, there are much better ways if you want to actively contribute to Bitcoin.

[cloirecrom]

Other than experience? no you got no benefit.

[CrazyMiner69]

you're not doing anything that is contributing to the network at all.

I have to disagree, most miners today can't statistically find a block for the duration of their lifespan and decades beyond, many many people run small 1 terahash and lower USB miners, those add up together and make the blockchain more secured and they improve the resilience of the network.

Huh do you actually know what an ASIC is? This guy just wants to run it on his pc..

Mind quoting the part which he mentioned about using his PC? I can't find it, his post states the following.

anyway,  would there be any benefits,  at all,  to running a very low cost & power consumption BTC miner, where we're not really expecting to generate any BTC?

OP, you can point your miner to a solo pool like Cksolo, and think of this as playing the lottery and your way of supporting the network with a tiny bit of hash power.

Well it's simple to assume, a "bitcoin core node" is run on a pc & an asic would actually generate some profit but would not be power efficient so..

[raman3499]

hi there,
as a small time BTC holder, it seems to be the right thing to do, to run a full bitcoin core node.

anyway,  would there be any benefits,  at all,  to running a very low cost & power consumption BTC miner, where we're not really expecting to generate any BTC?

many thanks
RDz

mining is done only if you are interested in bitcoin. by mining, you can also get information from various people like carding or SSN number details, but the main motive of mining is only bitcoin earning.

[NotFuzzyWarm]

mining is done only if you are interested in bitcoin. by mining, you can also get information from various people like carding or SSN number details, but the main motive of mining is only bitcoin earning.

Emphasis in the quote is mine: What the hell you talkin' about? That is totally WRONG.
BTC or any other coin mining has no means nor mechanisms to gather peoples information. BTC mining is strictly processing transactions that contain no personal information whatsoever unless a person deliberately adds it to their transaction as embedded text.

The ONLY way a persons personal information can be compromised is if you run a program that has malware in it OR buy a used miner that has been infected. While so far most mining malware will only steal hash, it is entirely possible that the control node the malware communicates with may also pass on other types of malware to attack any PC's on your network.

Anytime you buy a used miner you should:
  First power it up connected to a PC or laptop that is not connected to a network much less the internet. A cheap Chromebook to be used for only setting up miners is ideal. Most malware will start a worm to find other miners connected to your network and infect any that are found.

  Using a copy of Original Equipment Firmware that you downloaded direct from the manufacturer website, reflash the miner to ensure it is clean.

  Make sure the miner says the firmware was successfully loaded. Only then, setup your user and pool information.

  Move the miner to your network and fire it up.

[K21000]

No it is just a waste of electricity 

[Bitfort]

Heating.
Not much effective but could be useful if you face issues with humidity in your basement and similar situations.

[Peripatetic]

No it is just a waste of electricity 

....time, hope and money, beside electricity. I also need to research more because I want to start mining for real somehow, but at home. Some sugestions? Thanks

[Bitfort]

No it is just a waste of electricity 

....time, hope and money, beside electricity. I also need to research more because I want to start mining for real somehow, but at home. Some sugestions? Thanks

Quite new home friendly miner is FutureBit Apollo BTC (100-200 W , 2-3 TH/s )