Is it profitable running Bitcoin core validator at home?

OgNasty

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Quote from: PrimeNumber7 on May 09, 2021, 08:57:23 PM

Quote from: TwitchySeal on May 09, 2021, 07:20:07 PM

Quote from: ?? on ??

Without confusing you, the answer to your question is no and the solution you’re looking for is NiceHash.com. If you can read this before it gets deleted by a moderator for mentioning nicehash, you’re welcome. Otherwise, I tried. Good luck!

I don't know much about NiceHash other than it has a sketchy reputation and in general cloud mining is a scam, but just a heads up, OGNasty has a history of convincing users on this forum to invest their money in massive scams, butterfly Labs and Pirateat420's ponzi most notably.

Nicehash was hacked in 2017, but they kept their operations running, used their operating profits to return the stolen coin to their customers and eventually repaid all their customers.

NiceHash is a website in which owners of mining equipment can offer their equipment for lease via their platform. The work is served via and returned to the nicehash platform, so they can detect if you are actually providing the advertised hashrate.

Obviously NiceHash is legit. Twitchy is still trolling me and spreading lies as a result of a failed extortion attempt years ago. It’s best to assume anything he says is the result of an ulterior motive as it appears the account’s sole purpose is to try and extort gambling operations and established Bitcoiners.

BrewMaster

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Quote from: NotATether on May 10, 2021, 05:23:27 AM

Wouldn't it make more sense to use them to mine some coin that uses CryptoNight algorithm (not Monero itself but XMR derivatives) and then convert that to BTC?

it is hard to say because the profit of mining is already low and there is alawys a lot of competition in mining which includes mining altcoins. there is an additional problem with altcoins that is their price drops that has made making profit very difficult in them.

NotATether

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Wouldn't it make more sense to use them to mine some coin that uses CryptoNight algorithm (not Monero itself but XMR derivatives) and then convert that to BTC?

PrimeNumber7

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Quote from: TwitchySeal on May 09, 2021, 07:20:07 PM

Quote from: ?? on ??

Without confusing you, the answer to your question is no and the solution you’re looking for is NiceHash.com. If you can read this before it gets deleted by a moderator for mentioning nicehash, you’re welcome. Otherwise, I tried. Good luck!

I don't know much about NiceHash other than it has a sketchy reputation and in general cloud mining is a scam, but just a heads up, OGNasty has a history of convincing users on this forum to invest their money in massive scams, butterfly Labs and Pirateat420's ponzi most notably.

Nicehash was hacked in 2017, but they kept their operations running, used their operating profits to return the stolen coin to their customers and eventually repaid all their customers.

NiceHash is a website in which owners of mining equipment can offer their equipment for lease via their platform. The work is served via and returned to the nicehash platform, so they can detect if you are actually providing the advertised hashrate.

Quote from: TwitchySeal on May 09, 2021, 07:20:07 PM

But yeah, you won't make any money running a bitcoin node, and you don't have the hardware to mine bitcoin, and cloud mining is a scam. I'd suggest finding another avenue.

It appears the OP might have some GPU rigs that he used to use to mine ETH. It wont be profitable for him to mine bitcoin with these rigs (it wont be worth his time), but mining altcoins and converting them into bitcoin may or may not be worth the OP's time.

TwitchySeal

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Quote from: ?? on ??

Without confusing you, the answer to your question is no and the solution you’re looking for is NiceHash.com. If you can read this before it gets deleted by a moderator for mentioning nicehash, you’re welcome. Otherwise, I tried. Good luck!

I don't know much about NiceHash other than it has a sketchy reputation and in general cloud mining is a scam, but just a heads up, OGNasty has a history of convincing users on this forum to invest their money in massive scams, butterfly Labs and Pirateat420's ponzi most notably.

But yeah, you won't make any money running a bitcoin node, and you don't have the hardware to mine bitcoin, and cloud mining is a scam. I'd suggest finding another avenue.

BlackHatCoiner

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Quote from: itsmesri123 on April 27, 2021, 04:28:29 PM

How does the rawards works for validators?

As said, there are no validators. At least, not same like in Ethereum. In Bitcoin, when you provide your CPU/GPU power on a pool, you're helping that pool to find a block that its hash is below a certain target. If the pool you're working to, successfully finds such block, you're getting rewarded analogously for the work you provided.

Here's a nice site to learn how it works: https://learnmeabitcoin.com/technical/mining
And one of my previous posts explaining how mining works: Re: How does a bitcoin look like?

nc50lc

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Quote from: itsmesri123 on April 27, 2021, 10:43:16 PM

Quote from: 20kevin20 on April 27, 2021, 05:46:54 PM

-snip-

What is this https://bitcoin.org/en/bitcoin-core/? If I run this on windows 10 will Incentivized?

That is the Bitcoin's original client, it acts as a full node and a wallet. No, there's no incentive in a form of coin rewards.

If you want mining rewards, these are the examples of the "expensive hardware" kevin mentioned:
https://whattomine.com/coins/1-btc-sha-256 - Below the page (under "Mining Hardware").
Their prices are in the manufacturer's page, average power consumption is in that page.

itsmesri123

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Quote from: 20kevin20 on April 27, 2021, 05:46:54 PM

There are no "validators" in the BTC network. There's just mining and full nodes, out of which the latter are not incentivized. Closest you can get is mining, which requires expensive hardware that needs regular upgrades.

Validating is something specific to Proof-of-Stake blockchains. Bitcoin is using Proof-of-Work. If you want to read more about this, check this link out.

What is this https://bitcoin.org/en/bitcoin-core/? If I run this on windows 10 will Incentivized?

20kevin20

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There are no "validators" in the BTC network. There's just mining and full nodes, out of which the latter are not incentivized. Closest you can get is mining, which requires expensive hardware that needs regular upgrades.

Validating is something specific to Proof-of-Stake blockchains. Bitcoin is using Proof-of-Work. If you want to read more about this, check this link out.

itsmesri123

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Hi Guys,

Noob here. I have 2 old ETH mining rigs (5 cards +6 cards - 4GB). Now, I cannot use ETH mining as cards need to be upgraded. So thinking to run Bicoin core for validation purpose. Is it profitable to run validator at home. I have free internet and free electricity at my office.

How does the rawards works for validators?

Topic: Is it profitable running Bitcoin core validator at home? (Read 197 times)