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 ha
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.
A
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 payo
You'll use more electricity then you'll get, at least for Bitcoin. Some
simple searches and, basic math should set your son strait.
Thomas
On Jun 16, 2017 6:00 PM, "Greg Rundlett (freephile)"
wrote:
> My son is investigating crypto-currency mining and seems to think it's
> incredibly lucra
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 squeeze
