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Discussion in 'Mining & Cryptocurrency' started by Archaea, Feb 23, 2019.
'The most cost-effective way to mine Bitcoin in 2019 is using application-specific integrated circuit (ASIC) mining hardware. '
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?
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.
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?
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)
This has been my observation almost exactly.
Third batch is very, very risky. Or was risky. Now? A fool's errand. The strategy that I witnessed the most profit on - but did not do myself - was to get in on several ASICS on the first batch and flip them to those unwilling to wait on the second.
Even then, there were significant supply and delivery ...risks... associated with that plan.
The culprit? "A couple of Nissan SR20's would pull a premium one week before race wars." At least, that's what I think.