Why aren't you mining bitcoin?
#asknostr
Responses with houghtful insights and/or jokes may be zapped.
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Replies (45)
simple answer: i don't have mining equipment
nowadays even my GPU won't work for mining
It's cheaper to buy bitcoin
Why assume I am not?
I don't have free energy.
I mine solo with Bitaxe.
Because I have a single Bitaxe 😅
Bitaxes are anemic and I don't have 220V lines free for an s19, I've seen some 110V miners with good TH but with a 3 year ROI I'd rather just own btc
Been there, done that and got the Pleb Miner t-shirt. KYC-free sats are cheaper on Bisq than from my electricity bill.
#DontRiskItBisqIt
Have you looked at the electricity prices in Germany?
Good optimism
Forgot to plug in the Bitaxe when staying somewhere new
What payment method do you recommend?
I want to when it can reliably heat my water/home with it
A pair of Avalon Nanos are doing a really nice job of heating my apartment, though.
0.23¢/KwH electricity is a bit of a buzz killer
Ouch
That's a great question. I think most people are put off by the cost, both of the equipment and the power. It's also prohibitively noisy so you need a purpose built area to mine bitcoin.
Depends on your level of paranoia. "Easiest" and most liquid are bank transfers. More freedom orientated and less liquid are Cash by Mail and US Postal Order.
Because I don't have a way to receive ehash tokens for my mining shares and trade them in a liquid market place for sats ;)
I need heat during winter why not take a lottery chance
One still needs heat and one chip stillnsolves the block
Not profitable. Better to just buy bitcoin. But also, I do mine. Just for fun. It’s playing the lottery daily.
Home miners are so quiet you can’t hear them
Bitcoin mining lottery is the only reason I might try it again. But actual mining for real sats is a fool errand with my electricity prices.
I think preheat will be the closest for now.
Woof.
How's the heating bill?
What are you using? The mini 3 is pretty decent. Nice work!
Cannan Q 95th/s @ 1664W
Nice. I get around 39th from my mini 3 at 800w. I could likely get a bit more efficient with eco.
Good work. Is that unit quiet? The mini 3 is really quiet.
How risky is cash in the mail? Is there a max amount you'd recommend not exceeding? Or do you get insurance to mitigate risk of theft?
Mostly because the ROI calculations for most affordable machines isn't appealing any more. Some of the machines presented at recent events have like an ROI of 10 years or more. Why would I buy that?
We had shares like that in 2015. coloured coin tokens on the BTC chain
Yes it’s quiet like running a desktop comp
Respect to the real miners carrying the network on their electric bill. 🫡
Ehash is offchain using Cashu. Because mining shares are just shitcoins.
Fair. Think commodity hardware will come soon.
I support the ₿ network with 1.3 Th/s 🧡
Luckily we have plenty of trees 🪵
Would never be able to afford electric heat. Have always wanted to run some winter hash heat because we are in a cold climate it would be so perfect. But even for heat I can’t make the math work.
Burn wood and mine bitcoin?
Steam powered bitcoin miners
Wood gasifier running a generator💡
https://m.youtube.com/shorts/E-kxspmkHww
Put coals on the plate?
Steampunk future
Yeah. The mining game has changed a lot. I remember my first S5 broke even in like 90 days or so. I'm not saying mining can't be profitable any more because the hash rate obviously says otherwise but the game has changed A LOT for home miners.
You should video record the packaging process, use some tamper proof bags. If issues arise with the seller hopefully you can use mediation on Bisq.
https://bisq.wiki/Cash_by_Mail
This.
I've done many cash buys over $500. Its my favorite way to stack.