I don't understand this "mining". Anybody willing to explain how this works?
Users get paid in crypto to unknowingly host dark web elicit trade from their computers. Or so I just made up.
I don't understand this "mining". Anybody willing to explain how this works?
Checkout how long it takes and see if the electricity cost to run your machine is covered. Once upon a time you could make money mining. I hear it told that it's far too slow to be profitable now.yup, 61k today.
I finally got on board, my new machine is currently mining Ethereum, which is running about $1900 per right now. It's gonna take a while, but... Hey, gotta start the empire somewhere.
You remember SETI?
You set up your computer to run when you're not using it, it decodes data and shares it over the web, along with thousands of others, you get 'credit' for it, and it's electronic currency, can be bought and sold on a marketplace where people pay real money for it. you pay for the electricity and the 'cycles' your hardware is running.
Low end, older hardware doesn't earn much - a few cents a day. High end, new hardware can earn a few bucks a day.
Checkout how long it takes and see if the electricity cost to run your machine is covered. Once upon a time you could make money mining. I hear it told that it's far too slow to be profitable now.
I don't know about the other cryptocurrencies, but anyone starting in mining today is probably not going to mine enough Bitcoin to make it worthwhile. Bitcoin was designed to make mining more difficult and less rewarding over time, and it has been around for a decade now, putting new miners way too far behind the curve.If you have decent equipment, it is more than profitable, yes. Equipment cost to run my new machine is around $40/month estimate. Keep GPU power dialed back, maximize GPU RAM speeds and couple Oklahoma having the cheapest per kwh rates in the nation on average.
Like I said, I'm just getting into it, but I ran the numbers and did some research for a couple of weeks, have discussed with some online friends who have literally been doing it for years - and have made real world money, one of them even used some Bitcoin a few years ago to buy some property overseas.
This isn't a get-rich thing for me, it's something to try to have a little fun, utilize the hardware I have, since I just built this monster machine and really don't use it, and if I'm lucky, contribute just a little toward our future.
t's very interesting and some folks have made money off of it for sure.
Enter your email address to join: