Bitcoin Mining - 2.2 BTC per month (video)
Psy ran into a fellow crypto savage on a plane ride to Mexico for a very very special event called Anarchapulco... This character found himself mining Bitcoin on 35 Asic miners in his basement. Satoshi! His project has continuously grown, helping the over all community by allowing more Bitcoin to enter circulation.
Today there are 17,092,937 BTC of 21,000,000 BTC in circulation. The last BTC expected to be mined in 2140!
https://coinmarketcap.com/currencies/bitcoin/
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well if you start subsidised the electricity with renewables Im sure it could become viable. I hear big cloud mining operations are closing down.
Psy have two mining contracts with https://www.genesis-mining.com/
1 for Ethereum
1 for Dash
These were both purchased with 1 coin of each blockchain..
2 years ETH contract cost 1 ETH (at the time that was 50$)
2 years DASH contract cost 1 DASH (at the time that was also 50$)
Both DASH and ETH surpassed the 1000$ mark and then some.. Had Psy held these coins rather than trade them for contracts Psy would have done better.
Not sure I'm into mining. If it was limited to CPU.. yes, but it is a rich mans game now.. Staking is the future.
EOS has 21 delegates, Lisk has 101 - Sure this is more centralized on a "central to distributed' scale than any Proof of Work coin... but we can also change our votes...
Cool. But does the mining cover the electricity bill though? I always wonder? Ta.
Well, there are factors like the current price of bitcoin and the local electricity companies rates... not to mention taxes if you contribute in that forceful 'donation' to the state. Also depends on the probability difficulty of hash computations... We need free electricity to sustain Proof of Work AI money... Other wise delegates and Delegated Proof of Stake or even Proof of Stake itself seem like a much better alternative.
Yes, dollars cost a lot of money to print, and electricity... etc... So does Bitcoin... This should not be the case..
Creating money and new alternatives is currently profitable and competitive.. The reason currency trading market exist and fluctuate is because of influx of new precious metals, and inflation of fiat money. Will the world ever see a sound money, that is not leverage or margined.. is not used to profit... is simple uses a medium of exchange, and is worthless itself..
Just a thought. Money is a system, currency is the lifeblood of that system.