Cramsdeath Posted February 19, 2014 Share Posted February 19, 2014 Hello!I'm sure you're all aware of the 'Hype' surrounding the crypto-currency Bitcoin.What are your opinions on it?Do you feel that it is worth mining yourself?If you do mine, What pool do you use?The reasons I am asking is because recently I have been considering going into mining myself - I know I am a bit late to the game, I just never had the guts to go into it myself, but it has always been something that interested me since I heard about it.The USB mining tools (The cheapest 1.6ghs) I have found is £20 - But as you probably know they can be very expensive.So guys!What are your opinions? Quote Link to comment Share on other sites More sharing options...
Scorpius Posted February 19, 2014 Share Posted February 19, 2014 Let me give you my opinion since I've been in the cryptocurrencies world for a while.Mining bitcoin as an individual is pretty stupid today. Bitcoin mining has become a big game for very big players, and unless you have $500,000 around to buy ASIC miners, you won't see a penny in months.Those cheap USB mining tools are cheap now because they are worthless now.That's why most individuals have moved to alternative cryptocurrencies, like Litecoin, Feathercoin, Dogecoin, etc, where you have to mine with graphic cards. Now what's the profit? Let's say you mine DOGE which seems to be pretty popular right now. With a single Amd Radeon R9 290X (like $700) you will make like $5.35 a day with the current prices. Of course you have to substract power costs of that. In 5 months or so you'll get your return and after that it's just profit. Quote Link to comment Share on other sites More sharing options...
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