Bitcoin mining at home

[Woodie]

It just seems to me like mining of Bitcoin isn't that real. I have never seen anyone who says that he/she has successfully mined a Bitcoin. Maybe I must be mistaken.. I just need some insights, please.

It's very real mate and fyi for the bitcoin network to run we need these guys present and confirms they exist... And reason you never hear about them is because they keep low profiles and working in silence.

Such portable hydroelectric power plants were very common in China with a capacity of 25-250 kilowatts,

This is interesting, just how portable are these setups... and doesn't an HEP need good water catchment areas for the electricity generation to be a successful.

but after the mining ban, there were many announcements about this sale.

Digging into this might catch a good deal on this....

I also think that this uses very few miners and many questions about registering such equipment for generating electricity.

Is this in relation to the "portable hydroelectric power plants" does it mean they aren't efficient in power generation to have a good number of miners using this electricity.

[1714193774]

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[1714193774]

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[1714193774]

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[Kotlinor]

What should be the price of electricity to mine bitcoin at home?

[player1001101001]

Bitcoin mining at home was incredibly easy from home over a decade ago when difficulty was low. Even a simple computer was able to mine couple of bitcoins every seconds.. Now bitcoin mining can only be profitable if you invest in the right tool. Today, a very complex miners are required to mine a very few sats per hour. Mining is nothing but solving complex algorithms to generate new bitcoins and add existing entries in the ledger. The greater the hashrate of your miner, the greater would be your profits. You should probably get hands on some great ASIC's to generate income from mining orelse you would end up spending more in electricity bills.

[FP91G]

Such portable hydroelectric power plants were very common in China with a capacity of 25-250 kilowatts,

This is interesting, just how portable are these setups... and doesn't an HEP need good water catchment areas for the electricity generation to be a successful.

but after the mining ban, there were many announcements about this sale.

Digging into this might catch a good deal on this....

I also think that this uses very few miners and many questions about registering such equipment for generating electricity.

Is this in relation to the "portable hydroelectric power plants" does it mean they aren't efficient in power generation to have a good number of miners using this electricity.

For such installations, you need to find a place near the river. There are a lot of problems with installation, maintenance and lack of skills in this matter.
https://www.youtube.com/watch?v=XjEgFlngZ04
In my country, you need to get permission to use such installations, and the miner does not need extra problems. If you have operating experience and the ability to install, then this may be a good investment for you.

[kano]

Mining at home has nothing to do with apps.
They are all scams.
Read: BITCOIN MINING INTRO & RULES OF THIS SUBFORUM - READ BEFORE POSTING
https://bitcointalk.org/index.php?topic=2415854.0

[FP91G]

Actually I don't know much about the mining of bitcoin and I will like to know more about it. Well it been over a year now I have gotten into a lot of mining app and non is giving me what I wanted and I guess am not on the right mining platform.
You been at home and mining is a good one but it need you to know how to mini and to know which mining platform is correct for you to go into.
Mining at home seems to me like means of been in your house to make money for your self with going to do any hard work, just for intense what you can get from mining you cannot get it from working as a labour and mining can be done any were anytime I guess.

For bitcoin mining you can use https://www.nicehash.com/
Your processor and video card will mine other profitable coins, and you will receive a reward in bitcoins. From 1 computer, the profit is very small. And mining without equipment is like a scam.

[Fara Chan]

Actually I don't know much about the mining of bitcoin and I will like to know more about it. Well it been over a year now I have gotten into a lot of mining app and non is giving me what I wanted and I guess am not on the right mining platform.
You been at home and mining is a good one but it need you to know how to mini and to know which mining platform is correct for you to go into.
Mining at home seems to me like means of been in your house to make money for your self with going to do any hard work, just for intense what you can get from mining you cannot get it from working as a labour and mining can be done any were anytime I guess.

Mining Bitcoin work is an effective and efficient job to do, to do mining at home I have some experience that I have got. Starting Bitcoin mining at home you only need a device that has it (preferably have an extra good device if you start with computer media), there are several platforms that are official for Bitcoin mining.

Mining from home can also be used Rig mining, which is like what is done in large mining industries, maybe in this case it requires higher power, regarding the results this might be more optimal however, you need to pay attention in terms of electricity costs in your place, if the cost low maybe we highly recommend it, and vice versa, if the cost of electricity is high it depends on your own thinking, if you are ready to take the risk you can try it.

[Lida93]

Interested in mining bitcoin at home, I know that isn´t profitable like some years ago, but it´s an experience that I would like to live during my bitcoin journey.

What´s the process to mining bitcoin? Do I need an ASICs? Can I do it just with my computer? How this works, I need to go to some specific website to generate bitcoins?

Just living with experience in business without corresponding profits could that be encouraging at all. Be careful on what you choose especially for bitcoin mining that's expensive to run, and at the end it's experience only you're talking of, hope you know experience won't replace worn-out equipments but profits can?
Another thing asking if you need ASICs. Yes! You do need it.

[Mr. Magkaisa]

   - If you are planning to mine bitcoin at home, you should know that you need to buy a mining hardware. Similar to ASIC miner, but this device is quite expensive and can consume a lot of electricity, the question is, are you ready for this cost? this is because it usually turns out to be unprofitable for most people who try it.

But if you want to try it out your other options are to join mining pools. It is a group of miners who work together to mine blocks and share the rewards. And this way you can increase your chances to mine a block and earn some bitcoins.

However, you should know that Bitcoin mining is currently very competitive and it requires a lot of capital in terms of electricity, time, and hardware. So, before you make a final decision, you should consider the risks and costs involved in this matter.

[NotFuzzyWarm]

  - If you are planning to mine bitcoin at home, you should know that you need to buy a mining hardware. Similar to ASIC miner, but this device is quite expensive and can consume a lot of electricity...

Similar to ASIC  
A Bitcoin miner is not 'similar to', it IS ASIC-based hardware such as sold by Canaan, Bitmain, MicroBT, GekkoScience, FutureBit, etc.

[stompix]

  - If you are planning to mine bitcoin at home, you should know that you need to buy a mining hardware. Similar to ASIC miner, but this device is quite expensive and can consume a lot of electricity...

Similar to ASIC  
A Bitcoin miner is not 'similar to', it IS ASIC-based hardware such as sold by Canaan, Bitmain, MicroBT, GekkoScience, FutureBit, etc.

Hihi, not only that:

But if you want to try it out your other options are to join mining pools

So if you don't plan on buying an ASIC you can join a mining pool, probably with a discord invite, I mean, it would be hilarious for a mining pool also to require an ASIC! What kind of conspiracy is this? 

Sometimes I wonder what's going in their heads while trying to make it look like they know a thing about what they type when they don't even understand the meaning of the words they are using.

Mining Bitcoin work is an effective and efficient job to do, to do mining at home I have some experience that I have got. Starting Bitcoin mining at home you only need a device that has it (preferably have an extra good device if you start with computer media), there are several platforms that are official for Bitcoin mining.

No idea what he's talking about and no clue what he's trying to picture here!
And more frustrating is that for sure in a week or two there will be another newbie that will quote this guy and make a post like as if he perfectly understands the above text. I miss frodo!!
 

[Fara Chan]

Another thing asking if you need ASICs. Yes! You do need it.

We see good performance on this ASIC, maybe if OP really wants to mine, ASIC will be the right choice of equipment, but we all know ASIC has an expensive price and also requires high electricity, and the question to OP here is whether you ready to pay for this mining.
requiring a lot of electricity costs is actually not an easy thing to consider, unless the cost of electricity in your area is relatively low.

Here OP needs ASIC to get maximum profit and satisfactory performance, if you want to try it and if at your place you have low electricity costs and spend some money to buy the equipment, maybe the profit will be able to replace your capital, you can also join the group other mining to gain adequate knowledge/knowledge there.

[GigaBit]

   - If you are planning to mine bitcoin at home, you should know that you need to buy a mining hardware. Similar to ASIC miner, but this device is quite expensive and can consume a lot of electricity, the question is, are you ready for this cost? this is because it usually turns out to be unprofitable for most people who try it.

Absolutely, ASIC is very important hardware for Bitcoin mining. It is an expensive equipment where the electricity consumption is also high so the miner has to calculate the cost very carefully. Due to the impact of the war in Russia and Ukraine, electricity prices have increased significantly in many countries, making it difficult to find a suitable environment. Electricity production cost is high while its demand is increasing rapidly. The environment is not suitable for small miners due to the high cost of electricity. Mining can be done at home if there is financial solvency and able to meet the required electricity demand.

[Daltonik]

If you are in favorable conditions in terms of obtaining energy from solar panels and have the financial ability to install solar panels, then you can significantly reduce the cost of paying for electricity for mining, but again this requires an initial significant investment.

[Osama Maaz]

No friend you need ASIC Machine for mining Bitcoin because a very high difficulty and after buying an efficient Asic you need cheap electricity because no a days profitability is very low and if you buy old miners then it will give you negative profit , So i suggest to consider other algo mining like Kawpow Or come to stacking field , if you have a high investment then come to mining business for experimental purpose go mine with GPU Or CPU  because completion is too high and profitability is low .

[Jack_Tsai]

First, you need a miner. And electricity price in your place can't be too high.

[Merit.s]

Interested in mining bitcoin at home

I guess, if you are not rich or have a business that generates money for you,you cannot mine bitcoin at home,due to the cost of power that is needed for mining. If you have expensive power cost,it will be a big challenge to you.

What´s the process to mining bitcoin? Do I need an ASICs?

As you mentioned above that you need a cheap mining equipment, ASICs is the best and if you can't afford it or buy a new mining equipment, it is better you don't try something funny or else you will run into great lost. Mining is expensive and needs new miner for you to make profit,if possible.

[serveria.com]

It just seems to me like mining of Bitcoin isn't that real. I have never seen anyone who says that he/she has successfully mined a Bitcoin. Maybe I must be mistaken.. I just need some insights, please.

This is probably because mining is being done on a large scale - big companies running hundreds of miners. Otherwise it's not profitable. You can forget CPU mining, usb mining, browser mining, cloud mining, probably solo mining at all. So it's hard to meet an individual who could tell you that he's running a successful solo mining operation. 

[NotFuzzyWarm]

big companies running hundreds of miners

Hundreds?  
Try 10's of thousands and more at any one location. The largest farms like FoundryUSA each run 100's of thousands overall.

[serveria.com]

big companies running hundreds of miners

Hundreds? 
Try 10's of thousands and more at any one location. The largest farms like FoundryUSA run 100's of thousands overall.

Hundreds is a starting point. Bigger ones run thousands or even hundreds of thousands as you mentioned. Every year, every halving the number of rigs needed to break even increases. And yeah, electricity prices also influence the number of rigs and total cost of operation greatly.