Questionnaire to help me start mining - page 2.

apogio

sr. member

Activity: 406

Merit: 896

Quote from: Yamane_Keto on October 09, 2023, 08:40:18 AM

Asking other questions will be better and you will get good information such as what is the best mining device according to a specific budget and delivery date, is it possible to make a profit at the cost of kWh electricity, common errors and frequent repairs, the best mining pool, appropriate design to reduce electricity and noise, and calculating depreciation costs with an average price. Bitcoin, especially if you have less than 6 months to halve.

Ok, thanks, I will update the original post with some more questions.

Yamane_Keto

sr. member

Activity: 406

Merit: 443

Asking other questions will be better and you will get good information such as what is the best mining device according to a specific budget and delivery date, is it possible to make a profit at the cost of kWh electricity, common errors and frequent repairs, the best mining pool, appropriate design to reduce electricity and noise, and calculating depreciation costs with an average price. Bitcoin, especially if you have less than 6 months to halve.

apogio

sr. member

Activity: 406

Merit: 896

Quote from: Crypt0Gore on October 09, 2023, 03:17:00 AM

3. I mine in a separate room where I live, I abandoned the room for mining only because it's not healthy to stay in the same room with degrees of heat everywhere, I believe using facilities comes to mind if you want to run many miners at once.

What about the noise and elecricity costs? If I may ask how many miners are you running? I am reluctant, because electricity is quite expensive at the moment.

raybucks

jr. member

Activity: 102

Merit: 1

2. Are you solo mining or mining using a pool?
I mine on a pool because it allows me to combine my computing power with others, increasing the chances of earning a steady stream of rewards rather than relying solely on the luck and processing power of solo mining. Pool mining provides a more predictable and consistent income, making it a practical choice for many miners.

Crypt0Gore

sr. member

Activity: 812

Merit: 260

1. I used to, but not anymore because it's not profitable and higher rank Asic miners costs even more right now, I am waiting for new Asic miner before I go back into action.

2. Solo mining is like buying the lottery ticket, I don't recommend, I use popular mining pool.

3. I mine in a separate room where I live, I abandoned the room for mining only because it's not healthy to stay in the same room with degrees of heat everywhere, I believe using facilities comes to mind if you want to run many miners at once.

4. If one want to invest in mining I believe right now is the best time, because the price are better and it will increase once Bitcoin price starts making new highs, and profit wise will be way better than what it is today, a $2000 worth of asic miner can go up to $3500 or more in a bull market.

Mind you if you mining now it's smarter to hold your Bitcoin, and sell when we are over $70,000 again, hopefully by 2024-2025.

apogio

sr. member

Activity: 406

Merit: 896

Hello. I have been thinking a lot about buying ASIC miners and start mining.

However, I have some questions for the forum members, that will give me a general picture of the mining process and how to make it efficient.

Furthermore, I think we could gain some insight on what most people do in regards to mining.

My purpose is to observe experienced people and see how they mine, so perhaps I can follow their instructions.

So my questions are:

1. Are you mining? If no, what is the main reason? I reckon financial issues will be the top factor, but let's see.
2. Are you solo mining or mining using a pool? Please elaborate on what kind of devices you use. Also, in case you use a pool, if you feel comfortable, share which ones you use.
3. Are you mining on your premises or are you using hosting facilities? If you mine on premises, how do you deal with the electricity costs and the noise?
4. (Leave every other note you have here - free text)

Topic: Questionnaire to help me start mining - page 2. (Read 307 times)