Tag - mining

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Things are not good in the crypto mining world except…
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A Tenacious Bitcoin Roller Coaster
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It’s time for Commodity Hardware Mining

Things are not good in the crypto mining world except…

I ended up perusing the world of Cryptocurrency mining today, with a feel for grabbing charts and ledgers trying to make sense of the ever upcoming and depressingly tough to read question: “Based on x GPU or ASIC, how long do I have to wait until my rig is profitable?”

Bad news, after the general bear market since December 2017, the answers aren’t good.

Coindesk Bitcoin Drop

Image Credit: coindesk.com

In fact, if you’re mining from your home, and even paying minimal pool fees, here is a very telling image as to why it’s hard to make mining worth your time unless you have significant funds to leverage the fabulous concept of ‘economies of scale.’

Crypto Compare Asics

Image Credit: Crypto Compare

Ok, for Monero ( XMR ) isn’t bad, in fact. Why don’t I have that machine at my house right now?

When I started this post I was glomming on to the 100+ day waiting periods.  In fact if I show you this image, it’s even more depressing.

 

Crypto Compare Asic Payback Days

I’m sorry but 3993 ( 10.94 years ) just isn’t worth your time folks

Image Credit: Crypto Compare

All that being said, I’m seriously thinking about grabbing Antminer X3. 9 Days ( though the bottom could drop out again, so buyer beware ) isn’t bad, and that rate for 0.12kwh electrical costs is line with my Holland Michigan rates.

So possibly I’m off to the Mining Races after all.

A Tenacious Bitcoin Roller Coaster

If we look at the cartoon coin riding the roller coaster there are a number of take aways we can glean.

1. At this point in the ‘game’ if you’re not up for risk than what are you doing here.

2. With this risk there is still incredible gains to be made, if you can ride out the losses.

3. It’s fun? Or, it will be fun? Or ‘oh yeah’ it’s crazy fun!

 

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It’s time for Commodity Hardware Mining

The mining situation is causing major strain on the electrical grid, and our wallets, but all that aside, It’s controlled by the GPU companies and it’s time for Open Source to find a solution.

I started with Linux in late ( LATE ) 90’s and I’ll never forget how shocked I was by what I could do with ‘free’ software.

 

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