You thought that was funny? How about this'The most cost-effective way to mine Bitcoin in 2019 is using application-specific integrated circuit (ASIC) mining hardware. '
It read like one of those papers you do in junior high when you run into a 5 page requirement but you finished in 2.5.That's a reeeeaallly long article to say nothing has changed since ASICs killed GPU mining. Unless you are one of the few who receive an early model of the latest and greatest \ most efficient ASICs, and continue rotating out older units, you will never reach ROI.
Nearly any Bitmain miner will make money if you get in on the first batch. Second and Third batches only make money if the coin’s market get stronger. (Which is much much riskier)It really feels like ASIC miners are priced so you also have to see the entire crypto market double before ROI within 3 years is viable.
This has been my observation almost exactly.Nearly any Bitmain miner will make money if you get in on the first batch. Second and Third batches only make money if the coin’s market get stronger. (Which is much much riskier)
I think throwing a "green energy plug" is just compulsory, reality of the situation notwithstanding.You thought that was funny? How about this
Finding ways to lower your electricity costs is one of the best ways to improve your mining profitability. This can include investing in renewable energy sources such as solar, geothermal, or wind — which can yield increased profitability over the long term."
Yeah, let me just invest 250 million in a new geothermal plant, then I can mine for bitcoins in 20 years... is this guy kidding?
Kinda depends on where you live and how you're situated. My uncle runs an entire private logging mill off of diverted mountain stream (you can easily jump across it ) into an extremely "redneck engineered" hydro power station. So I guess if your property has some small amount flowing water you could in fact use hydro electric power to mine.It read like one of those papers you do in junior high when you run into a 5 page requirement but you finished in 2.5.
I mean seriously, he is advising people to invest in building small towns, importing labor force, and establishing hydroelectric dams so they can pay less for electricity? Come on dude.
And then he goes on and on and on and on and yes we understand electricity is different price in Kuwait and NEw York we GET IT ALREADY!!!!
EDIT: Funny thing is I know next to nothing about mining and I still learned NOTHING! LOL! How bad do you fuck up?