Is Bitcoin mining practical?

Leno said:
Remember to work the difficulty rising into your ROI calculations, dont just use the current value/calculators
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The price normally adjusts to that. I remember thinking EIP 1559 was going to kill my profits, but the ETH price just adjusted for it.
 
Praemon said:
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.
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This is why I am waiting till Eth2 before dropping anything further than time into research now
 
Snyper564 said:
This is why I am waiting till Eth2 before dropping anything further than time into research now
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ETH team have a notorious history of moving their deadlines to a later stage. Dont be surprised if next year becomes the year after that. But when it does happen, I recon there could be a lot of cheaper GPUs on the market. Maybe, depends on how the other coins perform with the uptake of new users.
 
w1z4rd said:
ETH team have a notorious history of moving their deadlines to a later stage. Dont be surprised if next year becomes the year after that. But when it does happen, I recon there could be a lot of cheaper GPUs on the market. Maybe, depends on how the other coins perform with the uptake of new users.
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I am in absolutely no rush - I am using this time to build knowledge!

I know I missed the last mining run but I can time entry into the next round and make decent coin.
 
Directly. Probably not.

Mining other coins and converting to Bitcoin? Absolutely, depending on where you go.

But 100% agree Solar is the way and your power needs to be free for it to really make sense.
 
wingnut771 said:
ASIC or GPU?
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I would love to do asic, but I honestly don't know how easy it is to obtain. Gpu seems to be the better option especially lower barrier to entry.

Getting an asic here and **** goes wrong means it's a dead paper weight
 
wingnut771 said:
ASIC or GPU?
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ASICS use a real lot of power compared to GPUs (they are also louder and push out more heat) and are very limited compared to GPUs. For instance, when ETH2 eventually comes out (next year or the year after that), all the ETH ASICS on the market are going to be near useless, while people with GPU rigs can just mine another type of coin.
 
Snyper564 said:
Getting an asic here and **** goes wrong means it's a dead paper weight
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This is true. I had a ASIC miner running at work (my manager knew beforehand and let me do it). It packed up after 2 and a bit years. At the moment its sitting in a box in the garage, not sure what to do with it. I wanted to try open it up to see if it can be fixed but there has never been time to do it
 
I just saw this on Linus Tech Tips.


You can buy them from here.


They say about $5200, but I just hung around on the site for a bit and they gave me 10% off coupon. So you can pick them up for around $4600.

According to benchmarks they give you about 160MH on the ETH network. Thats not bad considering they only use 200 watt power.

I paid about $5000 for 200-220mh and that uses 8 cards and 1.3Kva in power. These cards look better value for money.
 
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