Bit Mining

[btw65]

Can anybody tell me if Not mining is a safe investment. My Thai Gf thinks this is the solution to all her worries and will quickly help repay all her outstanding debts

 

[Swiss1960]

It is NOT, see https://www.buybitcoinworldwide.com/mining/profitability/

Sent from my CPH1821 using Thailand Forum - Thaivisa mobile app

[user343434]

I had a mate who had an old computer (over 12 years old) and in an evening we were just joking what has it been 12 years ago. What crap is saved on it.

By scrolling through the programs he has found 6 bit coins he received once as a freebie to register into some pages.

Well, for him it was a full win.. 

 

To be honest I have no clue how they work and some mates on my ships are investing in other currencies which I never heard of.. Good or not I can't say as I never bothered.

 

[user343434]

I mean if you buy computer scrap and many many hard old drives there might be the lottery win as bit coins in. 

My mate had the luck and even he was close to bin the computer... 

 

Seems that there was a time you got free bit coins for register on some pages but I never trust such things also I don't trust currencies which I can't put into my leather Wallet in my back pocket.. 

[user343434]

I have had a look on the link Swiss1960 posted and as expected. The train is gone. She/you will not making money but ending up with more debts. 

 

Chinese have a philosophy: A wise man pays his debts first before starting a new life. 

Behind this I love to say: "I god I trust all other pay cash"

 

As much you try and as much you search:

Money comes from hard labor and not from dreaming 18 hrs a day where the money tree is growing and to pick a bucket of gold at the foot of the rainbow at a walk along.

 

I would start and analyze where each baht is gone as it was in your/her hand and sure there are some bahts every day in the fingers that slipping through and are gone forever.

Many times I see people in dept making more debts and the Lazada delivery knocks on daily base at the door.

Have a coin, hold it and be afraid it get lost.. 

 

at the foot of a rainbow you might only find this after a 1000 miles walk. 

 

 

[phycokiller]

most profitable business in asia is owning a pawn shop

[user343434]

Money earns money well said mate.. 

[Lacessit]

23 hours ago, phycokiller said:

most profitable business in asia is owning a pawn shop

I think the car dealerships must do well. Rigged new prices, high used prices, glossy showrooms. Bugger all discount on RRP. Plus a population that thinks a new vehicle is the ultimate status symbol.

[dorchester]

You can try eobot,maybe to learn and make a couple baht.It's free so you start with nothing.I watch some video's on it and just mined GHS for a couple weeks,then started mining

[XGM]

On 8/3/2018 at 8:18 AM, btw65 said:

My Thai Gf thinks this is the solution to all her worries

Not a magic solution to anything and probably not even mildly profitable in Thailand.

 

Think a place with zero expenses on cooling (hmm perhaps move to Doi Inthanon) and very cheap, preferably free, electricity.

 

Then, if you can stand the 24 hrs a day noise you might stand to make a profit with the latest Antminer models, still not something that will solve the gf's worries.

[neo555]

You always can mine easier coins and trade those. No antminer needed.

Skycoin i.e has a DIY option with raspberry pi. 

 

In the debt question I concur with the Chinese philosophy.  

[XGM]

3 hours ago, neo555 said:

You always can mine easier coins and trade those. No antminer needed.

Skycoin i.e has a DIY option with raspberry pi. 

 

You can also mine bitcoin with your CPU. In Theory. In practice, whatever equipment the average person has will hardly beat electricity and other costs. Even Monero, that tries to negate the ASIC advantage, isn't realistic anymore with just a CPU. To get something meaningful you'll need a decent GPU rig. Say of 6 strong GPUs. So again - heat, electricity, investment. Same issues as with the antminer. I didn't see the numbers of Skycoin with rasp. but I'd be surprised if it earns more than the price of a cup of coffee a month at best.

 

[neo555]

20 hours ago, XGM said:

I didn't see the numbers of Skycoin with rasp. but I'd be surprised if it earns more than the price of a cup of coffee a month at best.

 

Yeah its true mining has become industrial. 

 

One thing I'd like to add and that is that the price for a cup of coffee in some countries in other countries pays enough to live on for 2 to 3 weeks. Skycoin is around 3 $ a piece. It is an interesting project, IMHO its way too ambitious to succeed.  

Edited November 10, 2018 by neo555