Bitcoin Forum
October 24, 2018, 02:05:24 AM *
News: Make sure you are not using versions of Bitcoin Core other than 0.17.0 [Torrent], 0.16.3, 0.15.2, or 0.14.3. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: BITCOIN MINING – CUTTING COSTS CAN HURT | Dailysatoshi.com  (Read 967 times)
Coinbuddy
Hero Member
*****
Offline Offline

Activity: 896
Merit: 1000



View Profile
November 10, 2014, 07:03:16 AM
 #1

BITCOIN MINING

Bitcoin mining in early years was mostly done by computer geeks on their computers. With bitcoin’s price increasing, this was soon replaced by mining on ASICs – Application Specific Integrated Circuits. Individual mining became replaced by companies setting up mining farms. Warehouses full of specialized ASICs continued to mine bitcoins continuously

With mining becoming more competitive, the emphasis of mining companies turned to cutting costs. Running costs, primarily electricity, are a huge component of overall mining costs. So companies have relocated their mining farms to countries where electricity is readily available. Iceland, with its abundant and cheap electricity, generated from renewable sources of energy, provides an attractive location for mining farms.

Readfull article: http://dailysatoshi.com/2014/11/cutting-costs/
1540346724
Hero Member
*
Offline Offline

Posts: 1540346724

View Profile Personal Message (Offline)

Ignore
1540346724
Reply with quote  #2

1540346724
Report to moderator
1540346724
Hero Member
*
Offline Offline

Posts: 1540346724

View Profile Personal Message (Offline)

Ignore
1540346724
Reply with quote  #2

1540346724
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
tzortz
Hero Member
*****
Offline Offline

Activity: 686
Merit: 500



View Profile
November 10, 2014, 08:31:26 AM
 #2

Is there a question or something?

All is Mine!

1H7LUdfx9AFTMSXPsCBror3RDk57zgnc2R
odolvlobo
Legendary
*
Offline Offline

Activity: 2296
Merit: 1166



View Profile
November 10, 2014, 05:11:43 PM
 #3

TL;DR

Here is the conclusion:

Quote
You may be a new-world company, but you still have to take care of old-world problems like fir [sic] and industrial safety.

Buy bitcoins with cash from somebody near you: LocalBitcoins
Buy stuff on Amazon at a discount with bitcoins: Purse.io
Join an anti-signature campaign: DannyHamilton's ignore list
aztecminer
Legendary
*
Offline Offline

Activity: 1092
Merit: 1000



View Profile
November 10, 2014, 07:57:58 PM
 #4

looking at how well my ant farm is mining atm i think that the home mining is coming to an end sometime next year unless some new breakthrough chip comes available.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!