GoFuckYourself.com - Adult Webmaster Forum - View Single Post - What does it REALLY take to make money MINING BITCOIN these days?

MrMaxwell · 05-28-2016, 07:55 PM

Where is the bottleneck? What is the big concern?
Obviously "cloud mining" is absurdly ridiculous, even I can see that and I know hardly anything about this shit . . .
Cloud mining is the dumbest thing I have ever heard of . Unless you were somehow mining on hardware you weren't supposed to be, or some currency turned out to be easy to mine on certain hardware you managed to lease before anyone realized, or some chance occurrence like that

But what is the big issue for people looking to invest in mining? The hardware? The electricity? A lot of these fools make it sound like it's the hardware, others make it sound like it's the electricity - as if anyone with access to cheap or free power could easily stay profitable
Is that what it is?

Seems like a sketchy but potentially amazing investment . . you're fighting difficulty increases which seem somewhat level most months, yeah? But then you have the unstable price and all of that . . . .

This shit is interesting as fuck
ASIC I remember those from the days of H-Cards for DirecTV. You had to have that ASIC. Even when you were using emulation, had to have a genuine real ASIC. That's all I know about ASIC. Application Specific Instruction Chip or Application Specific Integrated Chip (or something like that)

I have no idea of why they're so powerful these days but I'll learn I suppose
But I'm basically asking, if I had access to a lot of free power, could I be extremely profitable?

05-28-2016, 07:55 PM
MrMaxwell Too lazy to set a custom title Industry Role: Join Date: Jul 2005 Posts: 10,057	What does it REALLY take to make money MINING BITCOIN these days? Where is the bottleneck? What is the big concern? Obviously "cloud mining" is absurdly ridiculous, even I can see that and I know hardly anything about this shit . . . Cloud mining is the dumbest thing I have ever heard of . Unless you were somehow mining on hardware you weren't supposed to be, or some currency turned out to be easy to mine on certain hardware you managed to lease before anyone realized, or some chance occurrence like that But what is the big issue for people looking to invest in mining? The hardware? The electricity? A lot of these fools make it sound like it's the hardware, others make it sound like it's the electricity - as if anyone with access to cheap or free power could easily stay profitable Is that what it is? Seems like a sketchy but potentially amazing investment . . you're fighting difficulty increases which seem somewhat level most months, yeah? But then you have the unstable price and all of that . . . . This shit is interesting as fuck ASIC I remember those from the days of H-Cards for DirecTV. You had to have that ASIC. Even when you were using emulation, had to have a genuine real ASIC. That's all I know about ASIC. Application Specific Instruction Chip or Application Specific Integrated Chip (or something like that) I have no idea of why they're so powerful these days but I'll learn I suppose But I'm basically asking, if I had access to a lot of free power, could I be extremely profitable?