Worth mining? - page 2. | Bitcointalksearch.org

HashFarmer

member

Activity: 98

Merit: 10

Quote from: SparkedDev on August 01, 2014, 05:41:27 PM

Well since BTC is being legal tender in california I'm looking into way to profit off this big move such as ideas/mining/owning my own currency exchange building mabe in sanfran.

Personally do you feel i should just stick to what i normally do, or should i put up some money i can spare into a bigger project?

You need to know how to build your own mining gear to be profitable, otherwise none of the mining gear is profitable..

iluvbitcoins

legendary

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Freedom&Honor

Quote from: ranochigo on August 02, 2014, 07:00:31 AM

Quote from: SparkedDev on August 01, 2014, 05:41:27 PM

Well since BTC is being legal tender in california I'm looking into way to profit off this big move such as ideas/mining/owning my own currency exchange building mabe in sanfran.

Personally do you feel i should just stick to what i normally do, or should i put up some money i can spare into a bigger project?

Owning an exchange requires you to go through legal procedures, build your own server and manage security. This isn't something that anyone can manage, if something gets stolen, you would be 100% responsible for the explaination and your reputation would be gone completely.

exactly, and building a reputation will take years, hundreds of bitcoins and quite a lot of advertising

there's plenty of competition out there, it's hard to make it

you should try to find a new idea and implement bitcoin in it instead of just creating an exchange

ranochigo

legendary

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Crypto Swap Exchange

Quote from: SparkedDev on August 01, 2014, 05:41:27 PM

Well since BTC is being legal tender in california I'm looking into way to profit off this big move such as ideas/mining/owning my own currency exchange building mabe in sanfran.

Personally do you feel i should just stick to what i normally do, or should i put up some money i can spare into a bigger project?

Owning an exchange requires you to go through legal procedures, build your own server and manage security. This isn't something that anyone can manage, if something gets stolen, you would be 100% responsible for the explaination and your reputation would be gone completely.

bomb177

newbie

Activity: 56

Merit: 0

You should invest what you can afford to lose in bitcoins, but avoid mining since it isn't profitable anymore for most people.

Kprawn

legendary

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Merit: 1074

Well it seems as he is new to BTC and is asking help on how he can enter the BTC area. So he is at the right place.

His Subject question was ..." Worth Mining" --> By that I suppose, you asking if BTC mining is still profitable?

The short answer - No, if you solo.
The Long answer - No, if you cannot invest a lot in good hardware and have low electricity cost.

How much do you plan on investing? There are other coins to be mined, and traded for BTC if you only have little to invest.

xstr8guy

hero member

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Glow Stick Dance!

Absolutely the wrong forum. I will ask an admin to put it in the correct forum.

DrG

legendary

Activity: 2086

Merit: 1035

I'm not sure why you posted this in mining speculation.

Nobody will utilize small players as an exchange. Your neighbor Coinbase is a HUGE BTC company and a lot of Bitcoin users still don't like them or trust them.

I would develop services that use BTC as payment, avoid fiat altogether so you don't have to deal with the mountains of paperwork as a money exchanger.

SparkedDev

hero member

Activity: 896

Merit: 1000

Well since BTC is being legal tender in california I'm looking into way to profit off this big move such as ideas/mining/owning my own currency exchange building mabe in sanfran.

Personally do you feel i should just stick to what i normally do, or should i put up some money i can spare into a bigger project?

Topic: Worth mining? - page 2. (Read 1731 times)