Bitcoin miner

[prostotrader]

Hi!

Let's say I boughtMINING RIGS 500 NVIDIA - ROI EXPERT RIGS (500MH/S)

and started receiving Bitcoins.

The following questions arise:

1. How many bitcoins I will receive per day?

2. How do I cash them out?

[anonymous]

1. It has not been profitable to mine BTC on video cards specifically for several years. Not even the cost of electricity will be recouped. Only the top-end ASIC's...

2. If you join large pool - bounty per day will be approximately equal to <bounty per block> * <number of blocks mined per day> * <your hashrate> / <total network hashrate> - <pool commission>.

One block is generated approximately once every 10 minutes. Block fee is currently, if I'm not mistaken, 12.5 BTC; with mining it decreases periodically by 2 times. Current network hash rate is ~10.6M THash/sec.

Without any pool - expectation of profit is the same, but random value of reward will have a very large variance: in most cases, the profit will be zero, but maybe you will be lucky and wait for a moment, when you'll manage to make a block and get all reward for it.

3. Sell in person or put it on one of dozens of exchanges and exchange it for the desired currency. To withdraw to a bank account or card, you may need to go through anti-money laundering procedures. Some exchanges do not work with people from certain countries.

[Alexander Ivanov]

Hi!

I see... this machine will bring in a maximum of $11 a day. No more than that.

[Mickey Moose]

just like that?

Forget it.

Start by mining altcoins where the payback is higher. Cash out through cryptocurrency exchanges

[Alexander Ivanov]

Mickey Moose:

just like that?

Forget it.

Start by mining altcoins where the payback is higher. Cash out through cryptocurrency exchanges.

are you from the moon?

I don't understand about mining at all. Is it like renting capacity?

[Dmitry Shumaev]

I don't see a future for bitcoin. Have you played with it yet?

[Georgiy Merts]

Dmitry Shumaev:
I don't see a future for bitcoin. Are they still not played out yet?

Bitcoin (and cryptocurrencies in general) are the future.

So they will either be banned or, at best, severely restricted.

[Andrey F. Zelinsky]

George Merts:

Bitcoin (and cryptocurrencies in general) are the future.

By predicting with unwavering certainty the "future" of cryptocurrencies, there is a constant confusion between 1) blockchain technology and its implementation in the financial sector and 2) cryptocurrencies.

blockchain technology and its implementation in different fields is one story.

But cryptocurrencies as currencies have zero future - because they are not currencies, have never been currencies, and never will be.

So it makes no sense to talk about banning "cryptocurrencies" - it's like talking about banning "casino chips" money.

[Alexander Ivanov]

You don't have to mine (rent) for bitcoins.

You can just trade through forex )

[Georgiy Merts]

Andrey F. Zelinsky:

But cryptocurrencies as currencies have exactly zero future -- because they are not currencies, have never been currencies and never will be.

So it makes no sense to talk about banning "cryptocurrencies" - it's like talking about banning "casino chips" money.

And how is bitcoin different from any other modern currency ?

All modern currencies are just "the word of honor of a group of comrades". And differing solely by that very "group".

There is no difference between dollars and casino chips.

I've already given you a very correct cartoon:

[Nikolay Ivanov]

Crypto mining is a waste of time and money. Farms only waste energy doing empty and unnecessary monotonous calculations... And all for what? Just to get a little pussy? All this is a gamble, similar to MMM, nothing more. That explains the excitement, and the crash will be just as dramatic. The money is better spent on more useful things, such as buying a tractor, hiring a worker and providing services to individuals for plowing, etc.. Or buy solar panels, and it will be more useful... IMHO.