Bitcoin when you're broke: Are mobile miners really so bad?
Time for me to get back into cryptocurrencies on the cheap, but the faucet landscape is not what it used to be thanks to high transaction fees. The irony is those billions of insignificant faucet transactions are probably largely responsible for the increase in fees.
I saw mobile miners mentioned, and since I have an abundance of old mobile devices laying around the house, why the hell not? The general opinion is they are a waste of time since you require significant computing power to make anything decent. Then there's the power consumption. I say you will still win long term, but you can think of it as investing in crypto by paying a tiny bit extra on your electric bill each month. If your electricity is included in your rent, that's a good way to stick it to your landlord! If you're really concerned about power consumption, bring it to work and leave it plugged in there. Heck, set up the work computers to mine at night when everyone is gone! Wish I worked in an office.
I downloaded the best rated mobile miner in the Play Store onto a really old phone, left it running for 24 hours, and it says I've earned about 5k Satoshi. Every little bit adds up. Now if I set the half dozen other mobile devices which go unused to mining, that's 30k Satoshi a day or more for doing nothing. Sure, the devices could burn out, but they weren't being used anyways, so they won't really be missed if they do.
It's a start anyways. If someone has better suggestions on what currencies are better to mine via mobile apps, I'm all ears.
Also, it seems to me that a CPU mineable coin would be better, such as verium.
When it comes to mining with your PC, I'm a little more concerned with power consumption and burning out my machine. Not sure I'm ready to go that route yet, at least until I find somewhere with free power.
I meant mining a CPU mineable coin on a mobile device.
Thanks for the testing. Are you sure you aren't losing money here. Have you ran the numbers on power?
Maybe I am short term, but as long as what I'm mining keeps increasing in value it will be worth it in the long term.
But then why mine it? Why not buy? I am sure there are reasons such as, for fun. I get that, I do mine, but not for fun. My rig:
https://steemit.com/cryptocurrency/@ljv/mining-rig-you-can-still-build-one-cheap-yes-you-can
I guess it is fun, but mostly when it is profitable.
Because work is slow until the snow melts. Also, the price of bitcoin is a bit high. I'm going to save up and wait until it crashes hard.
Sounds like a good plan. Wish I was in the wait until it crashes boat rather than the watching my money sink boat. I think you've got it figured out.
0.300 mBTC ($3) / day but stuck with the pool forever because you wont reach the mining fee.
The one I'm using claims to be a shared work pool, where everyone shares the profits. Says I can withdraw at 50K Satoshi. Guess I'll find out in 10 days. Can you even transfer that little these days without losing it all in fees?