Sup /biz/ Bitcoin General thread
Anyone here currently mining bitcoin? Is bitcoin mining still profitable in 2015? Recommendations for someone who wants to start mining bitcoin?
I'm willing to invest about $2000 into mining hardware. Now being that it is not nearly as profitable as previous years I have the possibility to cut out power costs completely. I'm not running solar nor out of a dorm but the way I plan on running it will be entirely covered to where I wont drop a cent on power. I don't see a flaw in this currently however I want input from those that are mining or have mined in the past. How have you guys done with bitcoin?
>>978543
if you don't have a botnet of 1000 computers doing it, you're wasting valuable time.
Also, the mining bubble was like 4 years ago.
>>978546
Are mining pools not a profitable option?
If I'm able to generate 1-2 bitcoin with hardware they pay themselves off within a few months.
>>978548
No there not.
>>978546
/thread
Does anyone know why Bitcoin price has been increasing recently?
>>978565
The chinese are pumping right now because Barbados was recommended by central bankers to hold bitcoin in there foreign reserves. So when that does hit it will be a massive jump thus the chinese slip the rug and dump all over them.
The last pump to 500$ was done by the FBI then the chinese to auction the Silk Road or Gox coins in an increased price sale.
>>978563
Even with a Terrahash of contribution? I'm not looking to live off this but instead pay off the machines and generate side money.
With cost of power not factored in is it not a viable option?
>>978543
Go for it. I'm a pool owner, and I can tell you we all need more miners.
Once visa starts to move into the block chain for real you can start to expect some serious dough
>>978573
It's not worth it period. Mining is long gone. And no im not going to mention shit things like the bitcoin 21 computer you jew shill fuck.
>>978578
this bitter nigger
Aight dawg thanks :^)
>>978573
You minus well buy bitcoin itself. Oh wait your underaged self can't make a bank account.
Tell you what Pass me your QR code ill drop 5$ with of bitcoin for your peasant ass.
>>978584
371TWBrMiCUWun8NPHKAK1aRxdxZw3ad3D
>>978584
>The cost of power will not be an issue
Nigger are you dense.
Therefore I'm not losing money on power, I'm setting up in a barracks room on government power. I'm not seeing the issue here.
Spend money on hardware, generate bitcoin, pay off hardware, profit.
The return is way smaller than past but I'm not seeing the problem here.
>>978592
thats not you
>>978593
The problem is the next generation of smartphones are going to mine bitcoin and a whole bunch of retarded technology as well.
And things like ant miner version 1337420# technology ramps up every 3 months.
It's a business model to sell you miners that only have just 1/10ths more power every 3 months because of it's revenue stream.
mining warehouses buy a bunch of the new products in bulk beyond comprehension.
So your only option is if bitcoin goes up? You minus well buy the bitcoin.
Buy the time you pay your miner off you coulda just used the money to buy cheap coins right now at the moment.
Nvm how about a quote from satoshi?
>If you don't believe me or don't get it, I don't have time to try to convince you, sorry.
>>978615
Though they will be outdated and 1/10th weaker they still have potential to generate bitcoin after they are paid off.
Why not do both? Purchase bitcoin and mine while I can?
Thanks for the first constructive reply you've had negro.
>>978590
19dEGxBbzAtYLbvtkcNtPvQjxX4CmTYZfk
>>978617
Oh fuck im sorry, Im guess you have no insider information of what the price is going to be in a few months or in December lol.
You still believing in that 5-10 year plan?
>>978543
Yea it's a good idea mine coins still if your serious about the future of this technology. Just be careful with the IRS.. Bitcoins are not something that you want to mine and sell for random shit on the internet or the IRS will be up your ass. The IRS only allows you to mine and hold coins, not spend them. So Bitcoins are something you want to mine and hold on to for years in case major turmoil breaks out which would send the price exponentially upwards as people fear gold/ bank account confiscation. There are also many other situations were the bitcoin platform would be king but im not going to sit here for an hour an type out the endless possibilities where bitcoins could be valuable in the future.
>>979134
1FuCKyoUet16sGvR1YfEyXXGfuBAnwGGKo
>>979134
>>978615
Stop saying "minus well". The expression is "MIGHT AS well". Wtf do you think minus well means? Do you ever consider the words you are using before they come out?
Also, coins are not "cheap" just because they were worth more at one point. The word you want to use is "depreciating".
>>979349
It's "MAY AS WELL"
WTF does might as well mean?
Fail.
>>979355
Might as well is another variation of may as well. They both are equally correct.
Use: You might as well look in the Cambridge online dictionary before you try to correct someone.
Super fail.
>>979372
Might implies chance outside of one's control.
"It might rain tomorrow."
You're confusing may and maybe.
May implies the action is fully possible but you need permission.
"May I use your bathroom?"
In formal grammar, "may" is the present tense of "might," so the phrase "I may as well" is, or should be used.
Whenever grammar comes into play with persons arguing, you've run out of shit to talk about.
On topic, I don't see it being fiscally beneficial unless you're stealing electricity or have it wrapped in with your housing or something similar. A $2000 rig likely won't cut up much dust.
>>979386
stop talking
>>979386
Dead wrong. In early English dictation people would use might as a substitute for may. Example "may I use your bathroom?" and "might I use your bathroom?" both had interchangeable meanings and both were acceptable forms of English. Notice that "might" is not being used in past tense at all in this example. Regardless, "might as well" is on both the Oxford and Cambridge dictionaries. Hence, you are an idiot and have no clue what the hell you are typing about.
>>979372
>>979386
>>979355
>>979349
>>979421
>>979426
wtf is wrong with you people who cares, the only real thing you should be worrying about is pounding your dick in some young girls and making money, and sharing with people who are worth it, also i'm from the pacific ocean.
If you spent 10 minutes maybe even 2 minutes on google instead of being a frothing retard in /biz/ maybe you would have answered your question and saved hours of your life.
>>979168
kek
>>979461
Sorry baby, I will try not to derail your money making threads in the future. I apologize as well for not being awed on learning the secret to infinite wealth. Since Bitcoin generates value out of thin air there is enough to go around and make everyone millionaires, I am sure. What a positive message you are bringing to the world.
+uypcutw question for you
The year is 2100.
Will bit coin be depleted? Or is it that the gain from mining is infinitesmally small?
What happens if everyone stops mining at once?
>>978543
this is the only miner for homeminers right now
https://bitmaintech.com/productDetail.htm?pid=000201511170341298180m44675v0613
>>979483
Doesn't into grammer and is a nocoiner
Stellar life you got going for you bro.
>>979483
No it's the opposite I don't want anyone near bitcoin or any bitcoin related things here.
>>978543
>I'm willing to invest about $2000 into mining hardware.
Do you think this is 2012? You would need to invest at least 50k in good hardware and a warehouse with free or very cheap electricity to make it profitable
>>979611
This
