Should I start mining bitcoin..?
I know I'm a bit late but..
I've been thinking about trying to mine bitcoin.
Does anyone have any ideas about that?
I don't know barely anything about bitcoin other than it's become quite valuable and that it might be being helped along by the people in power.
I believe in steem longterm and I think steemit will eventually become the top dog because of the way you can mine it through social media..
However.. I realize that bitcoin can and probably still will go up a lot..
It could even become "the" digital currency of choice.. And it is already right now for most, but I mean that in a sense of a monopoly almost.
Like.. People predict that one coin will rise to the top, and I personally think it will be either bitcoin or steem based on the little amount I know of things.
HOWEVER.. I did read some stuff of concern.. Some people warn against mining because then you're sort of giving access to your computer to outside forces and they might be able to much easier hack you?
Can anyone help shed some light on this stuff?
Should I try to mine bitcoin? I can't afford to invest anything other than my time and computer.
So.. If I don't mine it, I'll probably never have any unless it's donated to me.
What do you think?
There is a few things to consider before taking the plunge. 1) Is your computer up to the task? 2) What are the power costs involved?
Assuming your computer can mine some crypto It would be alt coins and not necessarily bitcoin(of course you can trade it) and if your computer consumes more power than the money it makes (if its not efficient enough) then you would not be getting ahead of the game at all.
I would recommend you visiting the nicehash website and reading up on their application, if you have an Nvidia GPU or AMD you could even download it and benchmark your PC to find out if you can join a pool.
best of luck! ;)
Good question! I'm not sure my computer is up to the task and thanks for all the information! I definitely need to study this a bit more before I know if I'm even capable!
Thanks for the good luck also! :)
I believe the best investment right now is setting up a desktop computer and mining with GPU by using either Nicehash or EthOS! Good luck with mining, and follow me if you want to learn about investment and market opportunities!
Word. Thanks for the info , I'll look into it and I'll give you a follow as well! Cheers.
Thanks a to @apolymask! Let me know if you need any help with anything related to crypto!
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The short answer is… no probably not.
From what I know, mining bitcoin on your own as a single individual is not profitable.
However, there are other coins that You can mine with simple machines, even laptop or cellphone.
I use Minergate.com, I think it is the best one.
Easy to install and can start mining in minutes.
You can try it before deciding if You want to get more serious and buy expensive designated machines
amigo #resteemia at your service
better try altcoins. BTC complexity is too much now @apolymask
ReSteemia
'UpVote ReSteem Comment'
I stopped mining Bitcoin a while ago. It takes too much specialized equipment and electricity for my taste. I like to mine proof of stake coins and this has been a very good low power alternative for me. It doesn't take near as much energy to mine many different coins on a single low power computer.
@apolymask,
I am a happy customer of minergate and mining BCN at the moment ;)
I don't think mining BTC via GPU is worthy enough! Or LTC also! If you wish to mine via GPU then try something we can mine easily like BCN, XMR!
If you wish to mine BTC you must go to https://www.bitmain.com/ and check products! You can find a lot of miners there. Personally I like Antminer D3 for Dash coin mining!
Cheers~
I don't know much about mining but I've heard you need a tonne of computing power to mine bitcoin. So it may be better to mine other currencies
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