Posted on 01/27/2022 7:06:07 AM PST by aMorePerfectUnion
One miner just earned over $215,000
Most ordinary people haven't been able to mine Bitcoin at a profit for years. As the difficulty of mining the cryptocurrency has increased, most rewards have gone to massive operations that rely on a bunch of incredibly powerful machines. But solo miners with relatively weak setups have found success in recent weeks using USB-based mining rigs.
The most recent example comes from a solo USB miner participating in "solo.ckpool.org," which purportedly offers "no frills, no fuss 2% fee anonymous solo bitcoin mining for everyone." The miner solved a block with a rig that had a hashrate of approximately 8.3 terahashes per second (TH/s) and earned more than $215,000 worth of BTC. The types of USB miners used are available from retailers like Amazon and Bitcoin Merch (when you can find them in stock).
[more at link, if interested]
“...value it in say something not issued by givernment ... like sheep?”
Owning or renting?
—> This reminds me of the dot-commers in the late 1990s (just before the Y2K hoax) who had high business valuations without ever producing a product/service.
Amazon didn’t generate a profit for years and years. It lost 90% of its value in the crash. Most didn’t survive. Today Amazon dominates.
It will always follow this pattern…
Yeah it might be something...but the jury is out in my mind.
There is a technical limit based on the size of the crypto hash used in the crypto currency. Dogecoin does not have a limit, others (bitcoin, litecoin, etherum, etc) do have a limit.
The technical description of that limit can be described (poorly) as:
Answer (coin) is derived by multiply two prime numbers. We already know what the Answer is. So finding the “right” two numbers is needed. Now assume that only right numbers that begin with the number sequence of “7101xxxxx” can be allowed in the solution.
Since there is a limit on the size of the numbers (set by the developers of the coin), there is a limited set of answers.
No fees to financial institutions. You can buy and sell with someone across the world if you want to, with no need to transfer money into their currency because the crypto is the currency. You do to have to deal with a lot of stuff if you use crypto.
I have invested in a few crypto currency’s, and it’s all money I can afford to lose if I have to. I have doubled my investment in 7 months. If you’re not stupid and put all your eggs in 1 basket, it’s a solid investment with the benefit of the things I mentioned first.
Is there any way to buy that penny's worth of bitcoin with a transaction fee of less than a couple dollars?
A month ago at Home Depot I decided not to fork over cash for my doorknob and deadbolt replacement project, which was going to total around $450. My crypto gains were up, so while I was in line for a self checkout booth, I dumped $450 worth of LiteCoin on to my wallet’s issued MasterCard. It took about 45 seconds for the funds to confirm, and I checked out with the MasterCard.
In all cases with the right wallet, you can use crypto to buy anything anywhere credit/debit cards are accepted.
I have 31 1070ti, 5 1070s, 8 RX580 and a couple 1080ti cards. Costs about 500 USD. I mine etherim. Been in this since 2017.
I have 10 Bobcats 300 on order since late Sep 21, expect them in next 8-19 weeks.
I have Kracken and coinbase.
Even today I am up 150k at these depressed rates.
Life is good.
Do not know much of anything on this, but I wonder if some persons will be able to "rent" the use of their top end PCs to those who want to use them online to engage in bitcoining. Is that possible? Or the Pentagon could help reduce the national debt (sure!) by using their (presumably) high powered rigs to bit coining, which is mostly likely what Russia and China are doing.
I pitched crypto mining to a CIA Tech officer. I explained that we would use the mining power for other than crypto mining. I asked for .5
%. My friend spoke to me several times fir clarifications. I am pretty sure my scheme is being implemented. I thought naming a coin The American Coin or AIDNIOC for laughs.
Crypto Intelligence Agency.
“For the people” of course. Commies are gonna commie.
Beats me. My transactions tend to be a bit higher.
Yes this can be done. I am not doing it so I am not sure of the procedure to implement. There are a couple of flavors of this. I believe “Nicehash” is a search term to get started.
You can own the equipment and then rent the miner out.
You can rent the miner either a PC, a mining rig, or a mining cloud.
Just be careful and fully research the solution before putting up any money. There are a lot of scams out there.
Crypto will kill big G and the DNC.
Expect to see a full court press by the DNC, MSM, Hollywood to do all they can to dissuade people from crypto.
Their argument will be that crypto is bad for the environment and kills baby seals.
What’s nice to see is that there is now going to become a separation between young progressives and the DNC over crypto, web three. Oh, NFTs and play to earn games.
What were you switch to come Ethereum’s changing to POS?
I have 40K in equipment and spent about 20K. After taxes I am up 120K. If Bitcoin d I es as expected in 2022 it will be in a range of q40-160K.
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