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Mini Bitcoin Farm


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Spent all my bitcoin and sold my large miners to keep the house and DD going after Dad passed... Now that things are reaching something resembling normal I've decided to stick a toe back in with a mini bitcoin farm. Won't earn much, but it's a hobby mine; and with the summer heat right around the corner (80 here today!) I didn't want to get another big miner as they put out a ton of heat!

 

My mini farm has 32 processing chips, and does about 240GHs. I mine as part of a pool so not trying to solve a block myself, but earn a few pennies per block from the pool.

IMG_0047.jpg

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4 minutes ago, Joey_AB_DL said:

I never understood the whole “bit coin mining” thing.  I understand digital currency, but not the prospect of mining it.  

It's basically a reward for doing the work a bank/government would do. Confirming transactions. To do it your computer has to solve giant math problems... if you solo mine and solve a "block" you get 12.5 bitcoin ($85k at the current rate) , but that's very hard to do these days so most of us little guys join "pools" and split the reward based on how much work you contributed.

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Sorry if it come off rude, but need to put my 2 cents (lol coin pun) about bitcoins

 

To be honest, the whole bitcoin stuff is overly hyped. I don't mind using my debit card, and the chip on the cards are pushing it for me, yet at the ending of the day I rather cold hard cash and actual coins.

Call me "old fashion" (even tho I'm 25 and a techie-gaming nerd) but that just me

 

Btw nice setup tho! [emoji4]

 

Sent from my SM-J327V using Tapatalk

 

 

 

 

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Oh, I'm totally with you DH. Bitcoin will crash and burn at some point in the near future. But while people are still willing to give me things of value in exchange for fake money....

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LOL yeah especially with the virtual reality headsets. even tho theyer popular now I probably give it like 6 months to a year and it won't be as popular, because same thing with motion control controllers for the Wii or the motion control camera for the Xbox one, no one uses that fancy stuff. at the end the day people rather just sit down with their controllers or the mouse and keyboard and play on a regular monitor. And also developers rather not deal with all those fancy special gadgets

 

Sent from my SM-J327V using Tapatalk

 

 

 

 

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They running on raspberry pi's by any chance?

19 hours ago, DailyDi said:

Spent all my bitcoin and sold my large miners to keep the house and DD going after Dad passed... Now that things are reaching something resembling normal I've decided to stick a toe back in with a mini bitcoin farm. Won't earn much, but it's a hobby mine; and with the summer heat right around the corner (80 here today!) I didn't want to get another big miner as they put out a ton of heat!

 

My mini farm has 32 processing chips, and does about 240GHs. I mine as part of a pool so not trying to solve a block myself, but earn a few pennies per block from the pool.

IMG_0047.jpg

 

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16 hours ago, Dubious said:

Bitcoin is a huge waste for society, when all that power could have been used to find a cure for cancer, but instead we get nothing

Because electricity is the limiting factor in cancer research?

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11 hours ago, messyman said:

Because electricity is the limiting factor in cancer research?

Calculation is a huge limiting factor and that's what the bitcoin farms do, but not for something useful

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4 minutes ago, diapersalways said:

That article is flawed in so many ways

a PC fan is a good example of how it works, on idle it can run at 50% speed, but when you start stressing the PC, it might go up to 100% and its the same with electricity, if there is no or little power being drawn from the net, the generators can go at a lower speed, consuming less fuel

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3 hours ago, diapersalways said:

 

so you believe the world powers itself on oil? sure most transport is done with oil,

but most countries are ran on nuclear power. wind power. or solar power.

Oops, sorry... that's WRONG.

France gets most of its power from nuclear, but "most" countries still rely largely on good old fashioned fossil fuels. Coal, petrol products, natural gas, etc. Solar and wind contribute very little to the big picture.

Here's some info about power generation in the United States. Please educate yourself.

https://www.eia.gov/energyexplained/index.cfm?page=electricity_in_the_united_states

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Bitcoin is just another fiat currency like dollars and most of the world currnecies

Fossil "fuels" also have other uses, plastics, synthetic fibers, medicines, etc for which there will always be a market. The big move for power now is natural gas. it is plentiful for the foressable future to the point of being cheap. as to any of the ethereal power sources, here' si what their chief proponent has admitted

 

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On 4/2/2018 at 3:23 AM, Dubious said:

Bitcoin is a huge waste for society, when all that power could have been used to find a cure for cancer, but instead we get nothing

Don't forget to factor in the 100+ other cyber currencies that work in a similar way.  If you wanted to mine them all, you'd probably need a power plant in your backyard or about 500 solar panels.

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Well, I say we can pick the fly crap out of the pepper all we want.  If you want to do it like Daily Di, fine.  That's his decision and his choice.  If you don't agree then by all means don't do it yourself.  I know so little, basically nothing at all about it myself.

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I am quite well educated on fiat currencies: Thank you -- 45 years worth. Fiat currencies are currencies that depend on the faith of the users since they have no physical values, such as precious metals or other material foundation. In the sci-fi series CITIES IN FLIGHT by James Blish in the early and middle 1950's it was gemanium, which had acquired value from it's role in electronics. For bitcoin not to be fiat money, it would need a physical backing. Fiat currencies can be deflated. There have been several times when some economists have been worried that the Dollar would be deflated in the last 35 years

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On 3.4.2018 at 1:47 PM, diapersalways said:

 

so you believe the world powers itself on oil? sure most transport is done with oil,

but most countries are ran on nuclear power. wind power. or solar power.

 

i dont think they are revving up the engines when i turn on my computer....

I doubt many people know how the power grid works, but its common sense that the generators don't go on full power if they don't have to and no, they wont go faster if only you turn on the PC, but you are not the only one..

I'm sure crypto currency will get banned or limited in every country at some point

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I'm sure crypto currency will get banned or limited in every country at some point


I agree, at the end of the day I prefer cold hard real cash.

Sent from my SM-J327V using Tapatalk

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Cash is nice, but I present just a portion of what I have bought with this fake money:

I'm sure the rise is nearly over, but I've enjoyed it, lol/

 

 

purse.JPG

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1 hour ago, DailyDi said:

Cash is nice, but I present just a portion of what I have bought with this fake money:

I'm sure the rise is nearly over, but I've enjoyed it, lol/

 

 

purse.JPG

Plus, I think abu is accepting bitcoin too.

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7 minutes ago, Firefly 35 said:

Plus, I think abu is accepting bitcoin too.

Off, I found a hundred bucks in an old bitcoin wallet. Might have just found out where I want to sped it lol

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8 hours ago, DailyDi said:

Off, I found a hundred bucks in an old bitcoin wallet. Might have just found out where I want to sped it lol

Also, something I looked into a while back is myetherwallet.com, and it apparently supports dozens of different altcoins, but not bitcoin oddly enough.  I could tell because it shows your balance for each along the side of the page.

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