I have a coworker who makes money mining. His strategy is to mine for the alternative currencies that are still comparatively easy to mine than BitCoin. Whatever value he earns there gets exchanged for value in BitCoin. From what I gather, he makes a decently steady side income from it, though I haven't really probed for details. I suspect it's in the range of a few thousand dollars a month profit. -Neil
On Fri, Jun 16, 2017 at 8:46 PM, Lloyd Kvam <lk...@venix.com> wrote: > Bitcoin did hit a peak value of $3,000 last week, so that would help the > economics. > > My impression is that you need some edge in cost of bandwidth, electric > power, or > computer hardware for this to be an attractive business. Just tracking the > blockchain > can use enough resources to be annoying. > > An alternative approach would be to bet on bitcoins displacing gold: short > gold and > buy bitcoins. Of course that does not let you play with hardware. > > On Fri, 2017-06-16 at 18:12 -0400, Bill Ricker wrote: >> Bitcoin initially did not require specialized hardware, but as new golden >> hashes get harder to find, mining costs more in electricity and >> depreciation without speciality gear (or a huge BITNET running for free). >> If scarcity drives up BTC value, maybe, but odds of finding one still >> declining as payoff increases. I haven't checked the calculation lately, it >> would be a good exercise: what would an AWS VPS mining cluster big enough >> to average 1 BTC mined per week cost to operate? >> >> Which if any of the alt-coins have legit upside is not yet clear, and the >> most likely of them already requires a cluster and has had its first major >> scam. >> >> / bill >> >> On Jun 16, 2017 5:58 PM, "Greg Rundlett (freephile)" <g...@freephile.com> >> wrote: >> >> > >> > My son is investigating crypto-currency mining and seems to think it's >> > incredibly lucrative. >> > >> > I've not delved into it at all. >> > >> > Comments? Anyone actually making money mining? >> > >> > From what I've previously gathered, I thought the amount of computational >> > power, expense and electricity just about squeezed out anybody but those >> > with super-specialized hardware. >> > >> > Greg Rundlett >> > https://eQuality-Tech.com >> > https://freephile.org >> > _______________________________________________ >> > Discuss mailing list >> > disc...@blu.org >> > http://lists.blu.org/mailman/listinfo/discuss >> > >> _______________________________________________ >> gnhlug-discuss mailing list >> gnhlug-discuss@mail.gnhlug.org >> http://mail.gnhlug.org/mailman/listinfo/gnhlug-discuss/ > -- > Lloyd Kvam > 5 Foliage View > Lebanon, NH 03766 > 802-448-0836 > > > > _______________________________________________ > gnhlug-discuss mailing list > gnhlug-discuss@mail.gnhlug.org > http://mail.gnhlug.org/mailman/listinfo/gnhlug-discuss/ _______________________________________________ gnhlug-discuss mailing list gnhlug-discuss@mail.gnhlug.org http://mail.gnhlug.org/mailman/listinfo/gnhlug-discuss/
