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There's probably more money to be made by having a small flutter on the latest up and coming currency. Lumens are estimated to increase in value by 7000% this year, for example. It's all a bit speculative, so as usual only invest what you can afford to lose.
My feedback thread is here.
http://www.bbc.co.uk/news/technology-42774882
However, my understanding is in the UK you need quite a lot of hardware to make it viable. There isn't much use starting your home PC (even with a 1080) on a mine.
Also, imagine being paid in sterling, but the price of sterling can fluctuate 40-50% some weeks. A lot of people love to brag about their big hauls, but are very quiet at other times....
As you say some people like to brag about successes and to be fair if you've been in it for over a year you will have seen some gains but if you'd invested in December as many did you'd probably have lost 50% by January!
Is bitcoin mining still basically proof of work for the block chain ? if so then the more popular the thing is the more proof of work is needed I guess
It dropped to £101 at one point last week.
He's hoping it gets back to £230 just to get his money back
Buy low, sell high. It is the most basic principle.
You need specialised ASIC hardware to mine Bitcoin, it hasn’t been possible on home PCs for many years. You can mine some alt-coins with a multi-gpu PC setup though and some of the pools will pay out in BTC.
I do think the opportunity for massive profits with crypto has passed and a many coins are overvalued at the moment. Lots of people are pumping various alt-coins but they all have their own agendas and all the markets are being massively manipulated, including Bitcoin.
So, I am looking to be running-up some Bitcoin trousers...
Doing very well actually but I fully expect it to go tits up now I'm making a return
it's all about the market and trade at the moment.
The whole world is going mad....Soundsl ike a G rate T i tle to a s ONG.
https://www.theguardian.com/technology/2017/nov/27/bitcoin-mining-consumes-electricity-ireland
Aside from the cost, think about the energy wastage.