Bitcoin (or other cryptocurrency) Mining

[CanadaSam]

I am looking for anybody who is currently mining bitcoin (or other cryptocurrency) to increase our ability together with better equipment.

 

I was mind-blown today with an article which said it is possible to mine one bitcoin in 10 minutes, and as most know, one bitcoin is now worth over a million baht!  A million baht in 10 minutes???

 

I put this in Pattaya forum because I would like to meet anybody doing it already, or has knowledge of how to do it efficiently.

 

Thanks!

[metisdead]

Moving to the Cryptocurrency forum. 

[Seppius]

28 minutes ago, CanadaSam said:

I am looking for anybody who is currently mining bitcoin (or other cryptocurrency) to increase our ability together with better equipment.

 

I was mind-blown today with an article which said it is possible to mine one bitcoin in 10 minutes, and as most know, one bitcoin is now worth over a million baht!  A million baht in 10 minutes???

 

I put this in Pattaya forum because I would like to meet anybody doing it already, or has knowledge of how to do it efficiently.

 

Thanks!

Bitcoin's design includes a finite supply cap of 21 million coins, a defining feature that underpins its value proposition as a deflationary asset. As of the current mining phase, approximately 18.8 million Bitcoins have been mined and are in circulation, leaving around 2.2 million Bitcoins left to be mined

 

In 60 days, the rate at which they mine is going to be halved, I would think to mine 1 in 10 mins the equipment would be huge and very expensive, even if you could fine somewhere to guy it, high end rigs are very hard to come by

[FritsSikkink]

You forgot to read the most important part:

"Statistically speaking, a solo miner looking to generate 1 BTC per day would need to contribute just over 0.11% of the total Bitcoin hash rate. As we previously mentioned, this is equivalent to around 149.2PH/s or the combined output of 2,334 Antminer S17e mining units." 

 

Better info here:

How Long Does It Take to Mine 1 Bitcoin? [2024] (finbold.com)

[arithai12]

On 2/24/2024 at 12:44 PM, G_Money said:

Bitcoin explained,

 

Your story starts with a suspicious incipit, it shows up in an absurd font (at least for me), and is exceedingly long. So I did not read it. But may I ask why you think it is necessary to explain bitcoin to people who are on this forum?

[Conno]

16 minutes ago, arithai12 said:

Your story starts with a suspicious incipit, it shows up in an absurd font (at least for me), and is exceedingly long. So I did not read it. But may I ask why you think it is necessary to explain bitcoin to people who are on this forum?

I'll explain it for you arithai12....because they are no-coiners and they love to stick their self righteous knives in. Don't worry my friend, the same type have been saying the exact same thing since Laszlo Hanyecz had 2 pizzas delivered in Florida from Papa Johns for 10,000 BTC on May 22nd 2010. Today valued at $570,619,300.00

 

They just can't help themselves, so just let them do their thing enjoying their 'they know what's best for you' advice 55555. EVERYTHING is going to be tokenized but they just can't see it yet.

 

Your money, your life, your risk.  Enjoy being wealthy my friend.

[G_Money]

13 hours ago, arithai12 said:

Your story starts with a suspicious incipit, it shows up in an absurd font (at least for me), and is exceedingly long. So I did not read it. But may I ask why you think it is necessary to explain bitcoin to people who are on this forum?

You should have read the entire post.  You would of learned some valuable insider’s information.

 

[Mike Lister]

I've just removed 75% of the posts in the thread, including a very stupid and childish meme that attempts to compare monkeys and Bitcoin.

 

The OP came here and started this thread because he has questions about Bitcoin mining. If you don't want to read the thread please go and read something that interests you but do not flame and post childish comments and disrupt and inflame. 

[Conno]

Thanks Mike. Totally agree. Inflame is a good choice of words. 

[JeffersLos]

Does it take that long to mine one?

 

I have ten or fifteen thousand of them on an old computer from a contract completion bonus around 2011. What are they worth, 5 cents? 😆

[Conno]

19 minutes ago, JeffersLos said:

Does it take that long to mine one?

 

I have ten or fifteen thousand of them on an old computer from a contract completion bonus around 2011. What are they worth, 5 cents? 😆

I do hope you are kidding lol. 

[JacksRiVe]

While Bitcoin mining might have been a gold rush in its early days, it's getting tougher to turn a profit these days.  The competition is fierce, and the electricity costs can eat away at your margins.  There are other ways to get involved in cryptocurrencies, though.  Some folks are looking into staking, which is like earning interest on your crypto holdings.  It's definitely a less volatile way to play the game.  What are your thoughts on alternative methods of profiting in the crypto space?  Have any of you tried staking or other methods?