I have solar panels, it is not for the money (well a little bit would help, just for fun and to brag) - I am in California where there are lots of sunshine.) Right now I pay next to nothing for electricity I resell the juice to PG&E but they do not pay enough. I have not yet paid off my solar panels either. Any feedback? but please be gentle.
I am thinking of buying a bitcoin mining machine
- Thread starter TimtheEnchanter
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I used to be a bitcoin miner, it produces a lot of heat, lol. I also mined other coins. I was mining a while ago, though, back in 2014 all the way to 2015.
Are you going to mine bitcoin? It's very competitive. You can also mine other coins and exchange for bitcoin, depends on which one will give you the best roi.
You'll need a 240V outlet if you don't already have it for a lot of the bitcoin miners. Many years ago, you could do it on a standard 110v and be mindful not to trip the circuit breaker when you use the vacuum cleaner, lol.
GPU mining rigs are better coz when you're ready to quit, those GPU's can be resold at a good price, versus bitcoin miners that don't hold too much value when they get old unless you sell them on ebay to uninformed buyers.
Google bitcoin mining hardware and then plugin the hashrate on bitcoin mining calculators to see how much money before you recoup your investments. Good Luck!
mining calculator
I am sure it is all over the net but you seem to have expertise in bitcoin. I am curious as to why mining bit coins take so much electricity.
Seems like one must be doing billions of do loops n = n+1.
I am thinking the actual process has to be very simple. Do this until you get that.
FYI - I do not value bit coins as a store of value but more like art. I also think the market is being manipulated big time.
How can you get volume like - 49,512,665,088??
lol, it's fine to have no idea of how computers work, but please don't make statements that make no sense. Either that, or you're simply trolling.
Bitcoin is a very complex system. It's got a lot of moving parts. It's a financial system that operates on decentralized, p2p, distributed, censorship resistant, immutable, trustless network utilizing cryptography.
I am incapable of explaining. There are better resources out there. I don't even understand more than half of the bitcoin whitepaper, lol.
First, the velocity of money in crypto is many times that of fiat. When bitcoin price was going down during the bear market especially when CME futures was introduced was the same thing we hodlers were claiming about manipulation. Now we're in the bull market and the traders who missed out are pointing to manipulation. It goes both ways.
Anyway to your point, a single bitcoin miner can produce 56 Trillion hashes per second. It has to check each hash if it meets the solution and broadcast it to the network. I don't think it's a simple do loops, if you know what i'm saying, requires ASIC's. Think of all the logic to complete the process every single second, every single minute, every single hour, every single day. Also, a bitcoin miner hardware requires a server to submit the proof of work. The concept of pooling all the compute resources and assigned to each individual miner to maximize efficiency. Think of thousands of individual mining hardware and all the logistics of getting all these communications setup, then you understand that it's not a single do loop.
amazon link
Your husband is lucky to have a wife with extreme patience.
I tried being a miner once. I had my computer on all night and made 1/10th of a cent. Never again!
