[Discuss] Any miners?

[Lloyd Kvam]

Bitcoin did hit a peak value of $3,000 last week, so that would help the economics.

My impression is that you need some edge in cost of bandwidth, electric power, or
computer hardware for this to be an attractive business. Just tracking the blockchain
can use enough resources to be annoying.

An alternative approach would be to bet on bitcoins displacing gold: short gold and
buy bitcoins. Of course that does not let you play with hardware.

On Fri, 2017-06-16 at 18:12 -0400, Bill Ricker wrote:
> Bitcoin initially did not require specialized hardware, but as new golden
> hashes get harder to find, mining costs more in electricity and
> depreciation without speciality gear (or a huge BITNET running for free).
> If scarcity drives up BTC value, maybe, but odds of finding one still
> declining as payoff increases. I haven't checked the calculation lately, it
> would be a good exercise: what would an AWS VPS mining cluster big enough
> to average 1 BTC mined per week cost to operate?
> 
> Which if any of the alt-coins have legit upside is not yet clear, and the
> most likely of them already requires a cluster and has had its first major
> scam.
> 
> / bill
> 
> On Jun 16, 2017 5:58 PM, "Greg Rundlett (freephile)" <greg at freephile.com>
> wrote:
> 
> > 
> > My son is investigating crypto-currency mining and seems to think it's
> > incredibly lucrative.
> > 
> > I've not delved into it at all.
> > 
> > Comments? Anyone actually making money mining?
> > 
> > From what I've previously gathered, I thought the amount of computational
> > power, expense and electricity just about squeezed out anybody but those
> > with super-specialized hardware.
> > 
> > Greg Rundlett
> > https://eQuality-Tech.com
> > https://freephile.org
> > _______________________________________________
> > Discuss mailing list
> > Discuss at blu.org
> > http://lists.blu.org/mailman/listinfo/discuss
> > 
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Lloyd Kvam
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