Bit Coin mining anyone ?

personally, I think it wouldn't get to many votes...LOL, thats just because there to many people that dont understand it, its not that difficult to understand it if can anybody can.

 

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I've been admiring your gold buys for quite awhile now and you've been stacking steadily! If you're gonna start mining that's up to you but you're already making good money and buying gold regularly so I don't get it. Yes more money is better but that's only if it's stress free. Also, more money means more taxes, idk if you were asking for votes, I'd vote you stick to what you're doing and leave the mining to others!

 

I don't think those are accurate numbers. You need powerful servers / computers that drawn huge amounts of electricity. In the early days. your premise worked. at the current mining rates, I can't imagine being profitable.

Bitcoin relies on Proof of Work (PoW) to validate transactions. In return for using electricity and computation to solve complex math problems, Bitcoin miners receive new units of BTC. The rewards for PoW are declining nearly every 4 years. Chart from Bitcoin Halving Dates: Investor’s Guide 2025 | CoinLedger.

 

many ways to look at it, based on your formula I can see where your coming from
but just to get your feet wet at a minimal investment if for nothing else for the experience.

 

This proves out what I was trying to say but a lot clearer than my statement. Bitcoin will never be mined out, nor is there an infinite amount available. But the expense of further mining it will offset any gains due to the paradigm that created it.

If whatever reason it crashed in value, then no one would mine it again until it recovered. People who a whole lot smarter than I won't even think about trying to mine it. That does not mean it's not something not worth speculating on, just not economically feasible creating it anymore. (unless the value jumps even more).

 

Just in case anyone is still thinking of dipping their toes in, looks like the pond has pretty much dried up:

https://www.benzinga.com/markets/cr...n-accounting-for-non-cash-expenses-coinshares

Bottom line: the very largest and most efficient operations, with everything optimized and the cheapest electricity available, are spending around $137,000 for each single BTC they mine. That's almost 50% more than the current value of that same BTC.

Of course, you can make things look a lot better by ignoring the cost of electricity, the cost of the hardware, the cost of a place to put the hardware...

 

Almost seems like Bitcoin was dreamed up by the energy market.
They are the ones that will definitely make money.

 

That's actually the only thing I like about Bitcoin. For all practical purposes, it has a finite number available. As the number mined continues to increase, the more expensive it is to mine. Scarcity is one of the principles of value. (even though I have no idea why it has value to begin with).

 

Bitcoin is fractional so it’s not really as finite as you think….you could run the entire world economy with a single coin and there could still be hyperinflation with that single coin.