Bitcoin Africa on Facebook
Twitter @BitcoinAfrica

Anyone mining?
Views: 4273
Replies: 4
 
Thread Rating:
  • 0 Votes - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Post Reply 
User(s) browsing this thread: 1 Guest(s)
08-09-2014, 02:36 AM
#
Anyone mining?
It requires a pretty new ASIC to mine so I'm just wondering if anyone out there is mining or has miners on the way/
Find all posts by this user
Quote this message in a reply
08-19-2014, 04:52 PM
#
RE: Anyone mining?
Hi weex,

I started cloud mining for fun a couple of months ago. Mining is not very profitable in the current climate of bitcoins so I would advise all out there to take care when considering getting into mining! Mining is now dominated by big players who can afford huge set up costs (talking millions of dollars). Difficult to compete with that!

I have about 5MHs Scrypt and 20 GHs SHA-256 producing about 0.0025 BTC per day.
I don't expect to recover my investment.

Send a little Bitcoin my way Wink
1Q1DKPE2TtBGzkQgEJKFK1Rr6YPg1rKaqj
Find all posts by this user
Quote this message in a reply
08-20-2014, 05:34 AM
#
RE: Anyone mining?
(08-19-2014 04:52 PM)celadore Wrote:  Hi weex,

I started cloud mining for fun a couple of months ago. Mining is not very profitable in the current climate of bitcoins so I would advise all out there to take care when considering getting into mining! Mining is now dominated by big players who can afford huge set up costs (talking millions of dollars). Difficult to compete with that!

I have about 5MHs Scrypt and 20 GHs SHA-256 producing about 0.0025 BTC per day.
I don't expect to recover my investment.

Yeah, it's tough. The only investment I expect to recover is when the USD value is compared with the current USD value of mined coins. In other words, you were better off buying the coins!
Find all posts by this user
Quote this message in a reply
08-25-2014, 04:05 AM
#
RE: Anyone mining?
You're so right weex. I would have been better off leaving my bitcoin as it was. But it's part of the bitcoin experience to be a miner at some point.

Saying that I got a few MHs for scrypt mining with gawminers. Their new Zenpool is far more profitable than other pools. If all carries on the way it has been going I could be looking at about 10% profit overall (in about 8 months). This is not that exciting when you think about it, but it will be more bitcoin that I started with!

Send a little Bitcoin my way Wink
1Q1DKPE2TtBGzkQgEJKFK1Rr6YPg1rKaqj
Find all posts by this user
Quote this message in a reply
03-22-2015, 06:35 PM
#
RE: Anyone mining?
I agree that it's part of the experience to be a miner at some point. Running a miner gives you time to think about what it is exactly that a miner does. Verifying transactions and finding blocks just doesn't sound as cool as it should since there is so much interesting stuff behind it. Late reply I know please let me know how things are working out for you. Hopefully better than the cloud mining thing.
Find all posts by this user
Quote this message in a reply
Post Reply 


Forum Jump:

User(s) browsing this thread: 1 Guest(s)