Is Bitcoin mining practical?

M

mibloem

Well-Known Member
Joined
Feb 27, 2006
Messages
124
Reaction score
82
Is it even worth these days in SA for an individual to try Bitcoin mining?
Is the required hashing power needed to practically mining a block beyond the ability if a single individual?
 
I work at a large bank and I use the it infrastructure to the mining for me, it is a lot more harder than it used to be.
 
If you're running a solar setup or similar it might make sense. Grid supply probably not.
@Snyper564 afaik still has a rig doing something, might not be bitcoin.
 
saor said:
If you're running a solar setup or similar it might make sense. Grid supply probably not.
@Snyper564 afaik still has a rig doing something, might not be bitcoin.
Click to expand...
I run one card (1080) at the moment still profitable on eskom power but makes about 1.5k a month on solar.

It's not much but free money.

Never solo mine use nice hash

I'm using this time to get as info as possible together before eth2
 
Last edited:
Its profitable to mine crypto at the moment, even while paying your municipal electric bills. Coin like ETH is still the top coin to mine.

To mine bitcoin itself would most likely require asics and a lot of really cheap power, so its better to mine the other many profitable coins.
 
I have a local network at the office that was/is used exclusively for mining - from 2010. It's made me enough coins to buy a property, 4 vehicles and a good lifestyle. SARS tax chowed a big chunk but I wanted to do it the right way (No future nasty e-mails from SARS).
 
What's the recommended approach to start mining this late into the game?

Is it best to build / buy a rig?
If buying is preferable , any reputable stores that can be recommended?
 
Roy_ZA said:
What's the recommended approach to start mining this late into the game?

Is it best to build / buy a rig?
If buying is preferable , any reputable stores that can be recommended?
Click to expand...

Stores sell prebuilt mining rigs. Get a few of those, and join a mining pool.
 
Roy_ZA said:
What's the recommended approach to start mining this late into the game?

Is it best to build / buy a rig?
If buying is preferable , any reputable stores that can be recommended?
Click to expand...
I'm waiting for post eth2 then I'll buy rigs half price...

Just wait it's not a good time to jump to haviky in just yet. Wait for eth2
 
Roy_ZA said:
What's the recommended approach to start mining this late into the game?

Is it best to build / buy a rig?
If buying is preferable , any reputable stores that can be recommended?
Click to expand...
I have a reliable contact in China that can get 220MH (on ETH) machines (8XRX580-8GB cards, including board, ram, cpu, case, psu) for around $5000 each. If you ever decide to get a rig and cant find a cheaper price, DM me.
 
w1z4rd said:
I have a reliable contact in China that can get 220MH (on ETH) machines (8XRX580-8GB cards, including board, ram, cpu, case, psu) for around $5000 each. If you ever decide to get a rig and cant find a cheaper price, DM me.
Click to expand...
What is the earning potential of 220MH (on ETH) after eskom costs?
 
Remember to work the difficulty rising into your ROI calculations, dont just use the current value/calculators
 
Leno said:
Remember to work the difficulty rising into your ROI calculations, dont just use the current value/calculators
Click to expand...

Probably also worth considering that Ethereum is moving to proof of stake next year, which removes it as a mining option, and also means a huge number of mining operations will be shifting to other coins that may be profitable now but might not be afterwards.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X