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I don't have the hardware to mine BitCoins. You need expensive ASICs or at least very powerful GPUs, running 24/7, and you can't mine partial BitCoins. i.e. I w

I don't have the hardware to mine BitCoins. You need expensive ASICs or at least very powerful GPUs, running 24/7, and you can't mine partial BitCoins. i.e. I won't get 200$ worth of BTC by investing 200$ in electricity. Even if its possible, it would take days or weeks to get that much BTC. What if you want 2,000$ of BTC right now? Would you want to wait months before you get it? And electricity cost varies widely between regions. Many areas in the US and China outright ban crypto mining. https://bitcointalk.org/index.php?topic=347208.0 https://bitcointalk.org/index.php?topic=347208.0 https://www.politico.com/magazine/story/2018/03/09/bitcoin-mining-energy-prices-smalltown-feature-217230/ https://www.politico.com/magazine/story/2018/03/09/bitcoin-m... https://www.wired.com/story/china-says-bitcoin-wasteful-wants-ban-mining/ https://www.wired.com/story/china-says-bitcoin-wasteful-want...

louloulou 6y ago
You can buy an older generation ASIC on the secondary market for pretty cheap (usually), and probably mine ~$10 worth of bitcoin/day (by joining a pool). I agree it's not much, but it is permissionless. If you want to buy large amounts, you would use the P2P markets for fiat to bitcoin trades https://bisq.network/ https://bisq.network/
- sn_master 6y ago
  10$ a day isn't practical at all for investment or online purchases. It's only good if you have a big rig of those to get at least 1,000$/month, but at what electricity and noise cost? I don't think I can run that in a single bedroom apartment with neighbors around. Bisq sounds interesting, but I have my doubts about them, since there is no escrow system and I don't think there is enough liquidity either. I'll check it out anyway.
  - louloulou 6y ago
    Yeah, I would say mining may not be practical primarily due to the noise. You would need a garage or similar to put the miners in.
- hellbannedguy 6y ago
  I will never forget the guy (on here) who said, ‘I’m buying a few bitcoin, so if in the future my children ask me, why didn’t you buy when it was cheap dad?’ I was a click away from buying a rig rig a few years ago. I wanted to build the rig because that seemed like the fun part. I even had excess electricity from solar panels, but chickened out. I thought bitcoin made sense, but listened to the masses? I was always one of those guys whom never took chances with money. I just might buy a cheap rig tomorrow? I’m so lazy, and broke, I’ll wake up, and put it off?
  - jl2718 6y ago
    Everybody wishes they had gotten more serious earlier. I ran testnet. Nice toy, but the fan noise was bothering me. Fast forward to way too darn late. I knew a guy that did get serious, barely. I don’t know how many he had, but he traded 26,000 of the coins from his CPU for some of the first ASIC rigs. Tiny steps in the direction of something you believe in add up. It can be anything.
  - johanneskanybal 6y ago
    More like a personality away than a click. People say the same thing every year then don't act on it, won't do it now either.
  - vl 6y ago
    In the history of Bitcoin apart from the very early days it was always better just get the money you wanted to spend on rig/energy and just buy and hold BTC, unless you wanted to do mining very hands-on.
vl 6y ago
Sure you can mine partial bitcoins by joining mining pool. This is how everyone is doing that for the last 10 years.

louloulou 6y ago

You can buy an older generation ASIC on the secondary market for pretty cheap (usually), and probably mine ~$10 worth of bitcoin/day (by joining a pool). I agree it's not much, but it is permissionless. If you want to buy large amounts, you would use the P2P markets for fiat to bitcoin trades https://bisq.network/ https://bisq.network/

sn_master 6y ago
10$ a day isn't practical at all for investment or online purchases. It's only good if you have a big rig of those to get at least 1,000$/month, but at what electricity and noise cost? I don't think I can run that in a single bedroom apartment with neighbors around. Bisq sounds interesting, but I have my doubts about them, since there is no escrow system and I don't think there is enough liquidity either. I'll check it out anyway.
- louloulou 6y ago
  Yeah, I would say mining may not be practical primarily due to the noise. You would need a garage or similar to put the miners in.
hellbannedguy 6y ago
I will never forget the guy (on here) who said, ‘I’m buying a few bitcoin, so if in the future my children ask me, why didn’t you buy when it was cheap dad?’ I was a click away from buying a rig rig a few years ago. I wanted to build the rig because that seemed like the fun part. I even had excess electricity from solar panels, but chickened out. I thought bitcoin made sense, but listened to the masses? I was always one of those guys whom never took chances with money. I just might buy a cheap rig tomorrow? I’m so lazy, and broke, I’ll wake up, and put it off?
- jl2718 6y ago
  Everybody wishes they had gotten more serious earlier. I ran testnet. Nice toy, but the fan noise was bothering me. Fast forward to way too darn late. I knew a guy that did get serious, barely. I don’t know how many he had, but he traded 26,000 of the coins from his CPU for some of the first ASIC rigs. Tiny steps in the direction of something you believe in add up. It can be anything.
- johanneskanybal 6y ago
  More like a personality away than a click. People say the same thing every year then don't act on it, won't do it now either.
- vl 6y ago
  In the history of Bitcoin apart from the very early days it was always better just get the money you wanted to spend on rig/energy and just buy and hold BTC, unless you wanted to do mining very hands-on.

vl 6y ago

Sure you can mine partial bitcoins by joining mining pool. This is how everyone is doing that for the last 10 years.