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You don't understand it. Mine other cryptocurrencies that are profitable, or may become profitable. It is VERY, as in EXTREMELY, profitable to mine large stake
by cloudjacker 10y ago
You don't understand it.
Mine other cryptocurrencies that are profitable, or may become profitable. It is VERY, as in EXTREMELY, profitable to mine large stakes in cryptocurrencies that the market hasn't discovered yet.
Especially ones that aren't even listed on an exchange yet and mining is the only way to earn it.
The Darkcoin (now renamed to the politically non-threatening name DASH) instamine was a notoriously profitable use of GPU clusters on AWS.
- hueving 10y agoDon't claim I don't understand it when I was clearly talking about the economics of bitcoin. Also, if you are paying to mine currencies that don't have an exchange value yet, you are just speculating. The mining isn't profitable at that point because the currency has no value. It's just as likely that you chose to mine a dud. It's exactly the same thing as opening a copper mine at a loss and hoarding the concentrate hoping that it will gain value.
- cloudjacker 10y ago> you are just speculating you say that like its a bad thing it is a very profitable endeavor