Is bitcoin mining profitable in india reddit
Is bitcoin mining profitable in india reddit
Is bitcoin mining profitable in india reddit. There are “mining” apps that will pay you a small amount of crypto in exchange for viewing advertisements or completing surveys. g. If you have Bitcoin in a wallet whose private keys are maintained by you, there is absolutely zero evidence to suggest that it is in any manner unsafe. TL;DR: My calculations show that at ~$14000 per Bitmain s19j Pro with an OC at 140th/s, mining is not profitable given the difficulty increases outpacing the CAGR of BTCs value in perpetuity. This guide aims to show that this is overly simplistic and narrow-minded in its view. It has randomSpike on top of SHA256 to restrict big ASICs. No mention of difficulty adjustment either. so, once you are Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Bitcoin miners are currently mining around $20 million worth of Bitcoin per day. When coin drops 75% an electricity costs near double it doesn’t take a genius to workout that its not profitable. Is Bitcoin mining what it needs? Sphere 3D isn't a profitable company, bu At least 80% of the ETF's assets will be companies with at least half their profits or revenue from bitcoin mining. The majority o India recently required companies to disclose profit or loss incurred on crypto transactions, suggesting that taxation will follow. Aug 14, 2024 · Using your mobile phone’s hardware for actual crypto mining (participating in PoW consensus) is not a viable option. If you string that all together, the acronym for that Sep 4, 2024 · Bitcoin mining is still profitable in 2024. Mar 6, 2024 · Therefore, consider the cost of electricity and maintenance as well when purchasing the mining machine for more profitable outputs. Learn if bitcoin mining is profitable. 000006 $0. ). The concept of bitcoin is very appealing for me and i think this is the future. *Do not respond to strangers direct messaging you, as over 99% of these people are Scammers. However be inclined to try something like CudoMiner. You're selling mining power, and mining whatever the highest bidder wants to mine, and he pays in Bitcoins. That usually occurs when people are afraid of what might happen, as Bitcoin is, as bitcoin. Those who say this probably never even got into mining or never had anything more than 5 gpus. So if some bitcoin miners stop mining bitcoin because it's no longer profitable for them, the mining difficulty will decrease and it will become more profitable to mine bitcoin. Bitmain Antminer S21 Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Antminer S9 would be losing money for example. 47K subscribers in the cryptomining community. They operate because they can profit from it. 5 billion in one of the largest-ever individual philanthropy efforts. Plus mining crypto gives anyone the chance to do it (decentralization) and learn something new. If you want to make USD from mining bitcoin it’s not for you. Right now (15 March 2021), there are no laws against it, you can transfer, trade, hold, mine crypto without any restrictions. I love mining. As long as Bitcoin is being deposited to your account it’s profitable. so they were saying as long as btc price stays above 15,000$ it's profitable. A mining device capable of 200 terahash per second (TH/s) with electricity expenses at $0. We would like to show you a description here but the site won’t allow us. By clicking "TRY IT", I agree to receive newsletters and promot This article provides a look at my latest research, revealing how it came to be that a 2022 Cambridge Centre For Alternative Finance’s (CCAF This article provides a look a This article provides a look at my latest research, revealing how it came to be that a 2022 Cambridge Centre For Alternative Finance’s (CCAF This article provides a look a We have diplomatic suggestions, and petty ones. ANY stock offers investors exposure to Bitco Galaxy plans to acquire Argo’s bitcoin mining facility Helios for $65 million and provide a $35 million loan amid the miner’s restructuring Galaxy Digital has agreed to acquire Arg Because site’s default privacy settings expose a lot of your data. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. 25btc and will halve to 3. Bitcoin mining isn't, but this isn't Bitcoin mining. People rent out mining rigs when they don't want to make a large investment in Bitcoin Mining. Gpu mining is still profitable and getting better over time, depending on what coin you want to mine and the electricity cost in your region. tldr; Bitcoin mining is the process of earning bitcoins in exchange for running the verification process to validate Bitcoin transactions. org states, "volatile, experimental, and subject to price change at any time". Ask questions or receive news about about mining, hardware, software, profitability, and other related items. I don’t know. This sell-off, attributed to the recent Bitcoin halving event which reduced mining rewards and squeezed profit margins, has reduced miners' reserves to their lowest level in more than 14 Apr 12, 2022 · Profitability calculators. increase their top line and 2. Indeed, the break-even price for operating an S19 miner is expected to exceed $50,000 after the halving event. 125btc. There’s a lot of appeal in its potential to generate profits, and that’s enticed plenty of in Overall, the procedures involved in mining cryptocurrency can be complex and technical. hiveos or nicehash) and for profit side, eth (which is the most profitable coin to mine) looks like approximately 2022 will be the end of it to mine The official bitcoin mining forum / subreddit / chat room / place to be! If it wasn’t profitable I wouldn’t be mining anymore and if that happened I would Discussion of mining the cryptocurrency Ethereum. tldr; Bitcoin miners have sold over 30,000 BTC, valued at approximately $2 billion, since the start of June, marking the fastest selling pace in over a year. These three lithium mining stocks are positioned well for the future -- and also pay regul If you're looking to invest in an aggressive Bitcoin miner that takes renewable energy seriously, then consider giving ANY stock a try. But if Bitcoin stays flat my $40K is still worth $40K (not to mention what happens if BTC goes down in value). USB ASIC on SHA256 is pretty much not profitable on almost all SHA256 coins including bitcoin. I also have an idle space in Tagaytay to have it operate there. May 21, 2024 · Several factors determine whether Bitcoin mining is profitable, including the cost of electricity to power the mining machines, the speed of your miner(s), its cost, and mining pool payouts. Where as if the transactions are less the incentive you earn are also less. To calculate the cost-benefit ratio of bitcoin mining, there are many profitability calculators available online. The latest version of the Bitcoin mining calculator makes it simple and easy to quickly calculate Bitcoin mining profits by adjusting the mining hashrate values or by selecting one of the Bitcoin mining hardware devices from the ASIC Bitcoin miners list. Well, you should probably just stop looking at pure CPU mining as something that will actually turn a good profit. Mining rate depends on number of transactions per day. has proposed a ban on commercial operations that mine Bitcoin or altcoins, citing energy concerns. Jan 30, 2023 · Bitcoin mining is still profitable, and mining crypto might be worth it — but equipment and energy costs are expensive. How much profit are you making from mining Bitcoin (or other crypto)? Apparently from this Bloomberg article, three (cheap) machines can yield $1,000USD a month in Caracas. Reddit; QUESTIONS? Customer Support A community focused towards discussion of Bitcoin in India. This happened long before the creation of Bitcoin Cash. Not all algorithms and mining rigs use that much energy. Even if you’re using an anonymous user name on Reddit, the site’s default privacy settings expose a lot of your d Investors who trade stocks, bonds or cryptocurrencies like Bitcoin typically owe capital gains taxes on their trading profits. 3 billion people and a rapidly growing middle India, with its vibrant economy and ever-growing population, is a land of immense opportunities for entrepreneurs looking to start their own businesses. If this get a medal detector and start walking around, you all got big ass gold nuggets just sitting on the ground in some places there. It’s always easy to say investing in it is a good idea when the commodity is constantly on rise, but there is always going to be an inherent risk. Those calculators don't know the power draw to purely keep a Bitcoin mining in India can be profitable, and exchanged for fiat currencies such as the Indian rupee (INR), if you can invest on powerful hardware and electricity to efficiently run the software. 117K subscribers in the BitcoinIndia community. Overall, the procedures involved in mining cryptocurrency can be complex and technical. With a population of over 1. The largest bitcoin mining pool is an American company run by Digital Currency Group that requires KYC and explicit permission to join. By clicking "TRY IT", I agree to receive newsletters Overall, the procedures involved in mining cryptocurrency can be complex and technical. technically it would. This is how mined and unmined cryptocurrency differ. Profit; Hour 0. 50w on the wall for a laptop for extra 1. decrease their bottom line per unit of electricity. 07 per kilowatt-hour (kWh) is poised to net an estimated $14. 12 over a full day at prevailing BTC rates. 92K subscribers in the BitcoinMining community. S. Members Online Mining difficulty is at all time highs and crypto markets are on a downtrend. I created a similar spreadsheet to the above (after I discovered this site) and my numbers jive. 290w on the wall, 16 cents / kw and I’m getting 14 KH/s, stock settings in BIOS. And profitability also depends on your current electricity rate and other factors as well. You can typically lower it significantly (not sure how much but certainly more than 10%), resulting in significantly lower temps (longer lifespan and lower sound level) and only slightly lower hashrates. you have very high power costs, while you could make money on 570 8GB cards you will start losing money mining much sooner then many others when earnings drop which they likely will before you earn back the purchase price. Cost of mining rig + electricity > profit from transaction fees and newly mined bitcoin. A mining machine costs $2,000-$20,000, making it difficult for anyone but professional miners to mine. 1h for gaming, 23 for mining and torrents. Profitable is profitable as well so you saying it's unprofitable isn't true, $7 a month just isn't much. 7 KH/s This is highy unprofitable. You are not mining bitcoin, you are selling processing power. That tool is a gift to us small guy-miners. Once you have some knowledge, if you decide to get into mining, then decide on it. There’s a lot of appeal in its potential to generate profits, and that’s enticed plenty of in India’s vibrant economy and entrepreneurial spirit make it an ideal landscape for small business ventures. By clicking "TRY IT", I agree to receive newsletters and promotions fr Cheap, healthy, and basically zero prep time? Yes please! When it comes to simple meals that can fit into any nutritional plan, Reddit’s r/EatCheapandHealthy is a gold mine for ide In this week's edition of Chain Reaction, we talk about trouble brewing for bitcoin miners and Binance's investment in the Elon/Twitter deal. Also, you do not need to purchase additional equipment or waste valuable time. I am looking for suggestions to start Bitcoin mining while its is halved in less than 20 days ? Is Bitcoin mining Profitable in India with ASIC miners with average electricity rate ? ( I know that GPU/CPU mining is just waste of time). But it is not dead. If I buy some miners then I have still have some used miners with at least some value plus some bitcoin. The difficulty of mining Bitcoin adjusts approximately every two weeks. Lmao dont listen to people saying gpu mining is dead. Keep in mind it's actually less profitable than that too. Which are the best Bitcoin Mining hardwares of 2024? Here are a few Bitcoin Mining hardwares that are the top choice of Bitcoin Miners as evaluated by our experts: 1. Banks will work with you and you have less legal headaches. ?) Given the fact that as today I should earn 2k/mo x 3years = 72k a negative 16k in profit after 3 years of mining. Soaring bitcoin prices have now caught the attention of India recently required companies to disclose profit or loss incurred on crypto transactions, suggesting that taxation will follow. The subreddit r/GiftIdeas is a gold mine not just for gift ideas, but also for drama. Difficulty is measured in the hash rate, which measures the rate of solving the problem. So be aware that every day your miners will slowly mine less and less bitcoin. Having recently started mining myself, I would encourage you to lower the power limit of your GPU before mining as well as the other overclocking. Think about mining the same way you think about buying the coins themselves. This means investing in powerful ASIC devices and consuming vast amounts of energy. Mining energy is ultimately expended as heat. Is it worth mining Bitcoin in your house in 2023, or is BTC no Bitcoin Beginners is a subreddit for new users to ask Bitcoin related questions. It gets difficult with me being the only active moderator and the amount of posts we get. Define "High-end". It is too late for casual bitcoin mining. When we are near bitcoin halfing or in bullrun the transactions per day increase rapidly and so does your gas fees. Where or How do I exactly build those mining rigs? Bitcoin mining difficulty is going up a lot and only getting harder and harder to be profitable. i was reading that stock price of btc went up significantly after each halving so far. The only way to do 1 is to improve hash rate efficiency, which obviously has a ceiling (latest equipment, heat management, etc. Mar 27, 2024 · Overall, Bitcoin mining can be profitable, but a significant amount of hashing power is needed. Bitcoin is a global decentralized digital… The Mt Gox attack was not on Bitcoin. This item has been corrected. NiceHash is a Bitcoin centered platform, providing a complete ecosystem of mining and BTC payment services with the goal to accelerate Bitcoin adoption worldwide. Above is a calculator I put together to model the feasibility of setting up an immersion farm using s19j pros and mining BTC. So mining even when less profitable than buying coins directly can have bigger gains in long term but this must be seen in a big picture, not on a single case basis. It is multi-rig SHA256 coin in that ASIC get 80% to 90% of blocks, CPU mi Is Bitcoin Mining Still Profitable? The profitability of Bitcoin mining depends on various factors, including mining equipment efficiency, electricity costs, and Bitcoin price. So I'm being asked by someone almost every day about the details and legal issues regarding crypto mining in India. Understand that some machines may never ROI unless they have no issues over the course of the next 3-4 years which is currently the predicted ROI timeline for When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. BUT what will happen in 2140 with no more bitcoin to mine? Just upgraded my Rig, and specifically went for a CPU that was good for Monero mining (5900x). Who cares what the price is in fiat. In order to be profitable in 3 years I will be forced to buy new hardware and scrap the old one. Calculate Bitcoin (BTC) mining profitability in realtime based on hashrate, power consumption and electricity cost. Jul 14, 2021 · The COVID-19 pandemic and resulting lockdowns have changed the way the world works in many ways, including accelerating a digital revolution that has, among other things, shone the light on cryptocurrencies, such as Bitcoin and Ethereum. Every transaction since has been governed by a clear set In recent years, cryptocurrency’s popularity as an investment vehicle has skyrocketed. Rising energy prices and falling cryptocurrency prices has made it difficult to turn a profit mining Bitcoin (BTC). So you're mining altcoins like Ethereum, Zcash, Monero and others, but the payment is in Bitcoins, as the guy buying your mining power gets whatever altcoins are mined for him. Federal Bureau of Investigation is launching a new unit dedicated to tracking SDC stock is losing the momentum it built with yesterday's short squeeze. The U. You get a guaranteed return vs speculative. Mining is a process of validating bloc ANY stock was a penny stock until very recently, and its financials have been nothing to write home about. The news makes bitcoin mining and stuff sound horrible but the overall energy use is pretty similar, albeit bitcoin can be pretty energy intensive. If you clicked the button above, then you are currently mining bitcoin, the math-based digital currency that recently to Galaxy Digital researchers argue that the energy consumption of bitcoin is under fire due to the transparency of data. Any comments from you folks? ps. Right now if you had a good mining rig that pulled a couple of gigahashes, yes you would definitely profit, however if you are only in megahashs, I would say that you would profit seeing that the mining difficulty rose yesterday Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. If you mine at home you can reasonably discount your mining against your heating costs, especially if you normally heat your home with electricity and use a thermostat. Mods are active, so please make sure to read the rules before posting. I’m talking out my ass. So over time the incentive for Bitcoin miners to secure the Bitcoin network transitions from block rewards to transaction fees. They are going to verify blocks a lot faster than you. Now, let's assume transaction fees are low and the price of bitcoin is also low. there are lots of mining pools that you could join depending on what coin and what platform you're choosing (e. It'd be 100% profit When it comes to Bitcoin (BTC) mining, the major questions on people’s minds are “how profitable is Bitcoin mining” and “how long would it take to mine one Bitcoin?” To answer these questions, we need to take an in-depth look at the current state of the Bitcoin mining industry — and how it has changed — over the last several years. Mt Gox is just an exchange where people store Bitcoin in wallets to trade. If these companies buy 1000 miners and enter the market the hash rate will pump through the roof making your miners less profitable because there are more miners on the network. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. ASIC mining is profitable for thee but not for me. There are many factors that could make it profitable and many factors that could make it worthless. Any miner that has held Bitcoin from mining has been profitable even those paying 30 cent power. Luke Lango Issues Dire Warning A $15. There’s the mother-in-law who North Korean hackers are hijacking computers to mine cryptocurrencies as the regime widens its hunt for cash. So speaking from personal experience, Its easier to get capital investment when you are building a computer services company then a "Mining" company. The methods used to extract coal depend on the geology of the coal deposits. India has banned/applied high duty on imported machinery for mining and that makes it almost impossible to profit off in India. Unfortunately, my electric rate quite high at $0. ASIC miners are high end expensive equipment. An ore is a naturally occurring mineral, rock or metal that can be mined in sufficient amounts to sell for a profit. NiceHash is the world’s leading hashrate marketplace, and one of the most recognized names in the cryptocurrency industry. Those rigs would cost you close to $100,000. Any Suggestions in Setup of Bitcoin mining room ? r/cryptomining r/CryptoMiningSetups r/CryptoMiningTalk r Bitcoin mining takes a lot of money to set up (a lot of money for me at least), and since everyone else also has powerful PC’s bitcoin mining has become a tough place unless you invest a ton of money in it and you aren’t gonna make much back. The incentive for Bitcoin miners to secure the Bitcoin network comes from block rewards and transaction fees. Ore The two main methods used for coal extraction are surface mining and underground mining. 7 tri A top official of India's central bank has compared cryptocurrency to "Ponzi scheme" and suggested an outright ban in its sharpest criticism just weeks after the government propose The burgeoning EV industry is seeing demand for lithium soar to previously unseen levels. Over the years /r/btc became community of historians & torchbearers, preservers of Satoshi's Bitcoin for future generations. Hi folks, any crypto/BTC Miners here? Was wondering if profitable ba to do it here in the Philippines? Willing to throw 1m naman to have the proper equipment and stuff. On the one hand, it seems profitable, with a minimum cost of investment. CryptoTab – Innovative Cloud Mining Platform with Flexible Mining Options. While real estate and bitcoin mining have many similarities, they are fundamentally very different. . 000006 0. Soaring bitcoin prices have now caught the attention of. As of 2024, Bitcoin mining can still be profitable for those with access to low-cost electricity and efficient mining equipment. Miners get two types of rewards for their work: newly mined bitcoin and transaction fees for facilitating transactions. Falling S9 sales mean the global hash rate is going to go down, and so mining difficulty is going to go down Bitcoin price? Nobody knows. Crypto The price of crypto. dollars, and purchasing the cryptocurrency that captures your interest. * Members Online When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. The block reward gets reduced by 50% every 210,000 blocks solved, which is approximately every 4 years. I would like to invest in bitcoin for a longer period of time. Regular spikes in the bitcoin price chart mak In January 2009, a new financial landscape started gaining traction: The genesis block on the Bitcoin blockchain was mined. The bottom line here is to rent a mining rig that'll allow you to mine any coin. The official bitcoin mining forum / subreddit / chat room / place to be! yes and no. And I did the math and saw that they are not profitable either. Bitcoin mining is a free market in itself where the most profitable miners find the cheapest energy sources. It offers peer-to-peer money transfer, bitcoin and stock exchange, bitcoin on-chain and lightning wallet, personalised debit card, savings account, short term lending and other services. You can try Cheetahcoin (CHTA), which is new type of SHA256. All I know is that you would be competing your computing power against large mining farms. 3k/yr) at the moment mining Zephyr. If price goes down and it's no longer profitable, miners leave the network which lowers the hash rate. I believe that this method removes almost all risks. Bitcoin and Kaspa Mining Profitability Swell as Miners Eye Lucrative Returns Mining Bitcoin is one of the best ways to earn passive income, especially with cryptocurrency. you then have more competition, and the difficulty algorithm adjusts accordingly, so you wouldn't make AS much as you estimated, but you'd still be up in profits. I think a fair number of folks here who are paying consumer electrical rates have never done the math (taking into account periodic increased difficulty, pool fees, electricity inflation, etc) and are in for a series of unfortunate events. Along with cash-based in Examples of ores include aluminum, copper, clay and sodium. 7 Years I agree that's simpler. The right approach is to only sell enough to pay your electricity bill and hold the remaining until you get a good price. A more beginner-friendly approach is to consider cloud mining. Hopefully more than $40K in value. Therefore excluding hardware costs, any mining during times when you would normally heat your home can be considered profit. Future profit for a new S9 depends on the Bitcoin price and the mining difficulty. You would need 1500 Th/s (15 miners at 100 Th/s each) just to gross $33,000 but that’s not including the price of energy. A community focused towards discussion of Bitcoin in India. In most cases these are sold in bitcoin only. 33 to boil it down very simply: the macroeconomic force on bitcoin mining is more and more miners compete to 1. That's $600 million per month. except in reality, the price shooting up to 150k would cause more people to want to get into mining. I’ve noticed that yeah, even if it’s not really directly related to mining bitcoin, lots of members in the community do both GPU and ASIC mining and can assist the noobs coming in asking, so I don’t want to just delete their discussions already I had to mine for 5000 days to get any bitcoin. 1 AMD Ryzen rig (the most efficient in my research in terms of kilowatt-in-profit-out between CPU/GPU/ASIC/various algorithms) pulls about 3. Most calculators will ask you to input the available hashing power, energy consumption, electricity cost, and the fee of the mining pool. $1,000 a month is decent money even in the States or Europe. 15kw/day at the wall all in mining Zephyr and gives about 17k hashes/sec RandomX wise Say you could run 8 of those You could make $9/day ($3. The key to success lies in Growing your crypto wallet balance usually involves taking fiat currency, like U. As long as you're bullish on bitcoin, it's reasonable to be bullish on mining. As a bitcoin focused platform, NiceHash provides a complete ecosystem of mining, hashrate and payment solutions, with the goal to accelerate bitcoin adoption worldwide. Cryptocurrency is surging in popularity in India Here’s a look at the two different ways blockchain-processed transactions are validated. And see your costs after a month Your always making a profit. 000000 0. Unless you have extremely cheap energy you’re better off just buying Bitcoin. with these hardware you will have enough hashrate to get some bitcoins. This increases miners earning. Real estate does not have halvings or difficulty increases that reduces the cash flow and usually real estate appreciates in price, while ASICs usually last around 5 years or so before they break or become unprofitable. As such, it is more resistant to wild inflation and corrupt banks. Mining is not everyone cup of tea. Join our community of over 1,700,000 Screenwriters! From beginners to professionals, we come together to teach, learn, and share everything about screenwriting for film and television. So only if BTC goes bananas I will be profitable? So mining is almost the same if not worse than hodling? If the time between those blocks averages out to more than ten minutes, then the mining difficulty will decrease and miners will become more profitable. bitcoin mining hardware: not profitable. Start slowly, don't invest more than you want to lose, and talk to other investors & miners as you go to learn as much as you can. It's a gamble your talking about the spilt in coin given out to stop mining inflation? it is at 6. You won’t be able to make a profit, and mining could harm your mobile device. Due to efficiency concerns, many miners are upgrading to the latest mining rigs in anticipation of the upcoming Bitcoin halving. SmileDirectClub is moving downward this mornin HYMC stock looks enticing as Hycroft touts its balance sheet and its ability to get massive amounts of gold and silver out of the ground. Hello Guys! I am a little bit new to bitcoin mining. But these hardwares are not cheap. What is the cheapest recommended miner I can get started with while being profitable? Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. (So other 88k . Industrial scale operations are a scourge on 1 cpu 1 vote. Somebody has to be mining bitcoin and turning a profit somehow. But, the concepts surrounding the activities are reasonably straightforward, as is the proce Learning how to buy bitcoin is easy, but it’s perhaps the most important stage if you want to try your luck in cryptocurrency trading. However it’s bitcoin, and whatever you hodl grows in value. Vitalik Buterin donat Bitcoin mining hosting and services firm Navier has debuted a marketplace for buying and selling tokenized hashrate, which is open for 'qualified Bitcoin mining hosting and ser The unit will combine cryptocurrency experts, blockchain analysis and virtual asset seizure. The servers and buildings, etc. 18 kWh. Y. How profitable it is really depends on when you sell. If many miners stop mining, the difficulty decreases, making it easier (and thus more profitable) for remaining miners. For years the narrative that has been pushed regarding Bitcoin mining is that it’s a fool’s game, better left to the professional mining farms and big players due to shrinking profitability. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Jump to Valkyrie's bitcoin miners exchange-traded fund will star El Salvador's president Nayib Bukele wants to fan enthusiasm for bitcoin, and he's borrowing the language of social-media influencers like Elon Musk and WallStreetBets traders to d This item has been corrected. This encourages more miners to join the network, keeping the system running smoothly. Successful 51% attack on the network could pull the price down, if everyone was buying instead of mining then we would have very weak network and surely I wouldn't hodl my wealth Business, Economics, and Finance. Take your pick. Cryptocurrency is surging in popularity in India The income tax department has been surveying cryptocurrency exchanges to zero in on those who profited from the recent boom. The official bitcoin mining forum / subreddit / chat room / place to be! Members Online Two Dormant Bitcoin Wallets With 49,000% Profit Suddenly Awake After 10. Jan 15, 2021 · That means Bitcoin miners can expect to generate around 226% profit per day over operating costs using current generation hardware. Since electricity costs take up a sizable chunk of Bitcoin mining profits, securing a low-cost energy plan or setting up in a region with cheaper electricity is the quickest way to boost profitability. Any Suggestions in Setup of Bitcoin mining room ? r/cryptomining r/CryptoMiningSetups r/CryptoMiningTalk r Sep 2, 2024 · 2. While most of the Bitcoin community will deny that, it's the truth. When bitcoin is 60k or eth is 4K mining is profitable. Miners can profit if the price of bitcoins exceeds the cost to mine. This sub (r/cashapp) is for discussions regarding Cash App. CryptoTab is an innovative cloud mining platform that allows users to earn Bitcoin by using the idle computing power of their devices or by investing in ‘Pool Miners’ without needing physical hardware. Its a nice gateway into the world of mining. Aug 30, 2022 · The profitability of Bitcoin mining is quantified as hashprice, measured in dollars per terahash (TH) per second in the last 24 hours. Also about how to deal with cashing it out. If you really want to get into mining, do research, maybe buy 1-2 GPU and do some mining to see if you really going to like it. Bitcoin is a global decentralized digital currency which can be used like the Indian Rupees for paying towards Goods and Services and can be used as a medium of exchange with no central party like banks serving as the middleman for the payment transactions. I am more or less an investor who is looking for a profitable investment. Which currency to mine depends on the equipment you have. Many are taking profits; others appear to be adding shares. The majority o The income tax department has been surveying cryptocurrency exchanges to zero in on those who profited from the recent boom. Bitcoin has never been hacked. Since the recent mining boom, I wanted to checkout the Bitcoin mining scene. Don’t know enough about mining pools to know if you would be profitable joining one. When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. Image Credits: TechCrunch Image Credit Vitalik Buterin, the creator of Ethereum, has donated Ethereum and “meme coins” worth $1. Keep in mind that the absolute fastest that you can get Bitcoin 3 up and running is 190 hours after wipe, so July 7th, leaving 12 days of pure profit making for a cool profit (over six months) of 2,400,000 roubles. Jump to In the midst of ongoing debate regarding the energy c Plattsburgh, N. My guess is you would need 100 mining rigs to make a profit of $33,000 a year. jcsx gspney eix wkvbs vyrxb jqrum qysisd ietr ulcengwj innwspm