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RE: Should I start mining bitcoin..?

in #cryptocurrency8 years ago

It only makes sense to mine Bitcoin with specialty asic miners and many of them use around 1200+ watts and are pretty much like a small heater. Check out this site https://www.bitmain.com/ to get an idea of what they cost and power consumption. Your best bet is to mine alt coins with a gpu miner and trade them for bitcoin and you should have a dedicated computer for this and preferably run linux. You can also CPU mine if you want to get some small amounts of bitcoin over time. Nichash has a great calculator to determine what kind of rewards you will get for each type of device you use https://www.nicehash.com/?p=calc most likely it wont be profitable and I assume you will just be doing it to hold long term. This might be a great idea if you plan to hold for a few years.