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[AudraMiller]

There are many companies that are focused on the mining of bitcoin and this has become a very lucrative industry to get involved in, especially if we look at how much the price of bitcoin has increased, thereby making mining even more profitable than it previously was. In a recent news article it seems that the Genesis Digital Assets company, has received a massive amount of funding amounting to around 431 million dollars, which they are planning to use in order to expand its mining facility into bitcoin. What are your thoughts on this?

 

[Riberet19]

What I'm doing is raising some money for a few graphics cards. Therefore, I don't have them to buy cryptocurrency.
I think I'd rather mine them than buy them! I don't know how to trade, it's not mine, but I know how to mine! Moreover, if you take a used video card with normal characteristics, then its payback period will be much lower. And that means profit will be faster!

not all of us have to be investors in bitcoin, we are really a part of the chain, but bitcoin without miners is nothing and it is the backbone of the ecosystem, without people like you who decided to mine everything would go to hell, so if mining is yours go ahead!

 

[Margery]

not all of us have to be investors in bitcoin, we are really a part of the chain, but bitcoin without miners is nothing and it is the backbone of the ecosystem, without people like you who decided to mine everything would go to hell, so if mining is yours go ahead!

So much should not be praised! Just miners are ordinary people who earn by mining!
Here is a little different. In order to have a crypto currency, an ordinary user needs to buy it. And usually, such people expect its low cost.
Miners do not wait, they mine it and they almost always have it, regardless of its cost.

 

[Riberet19]

So much should not be praised! Just miners are ordinary people who earn by mining!
Here is a little different. In order to have a crypto currency, an ordinary user needs to buy it. And usually, such people expect its low cost.
Miners do not wait, they mine it and they almost always have it, regardless of its cost.

Yeah. Well, nobody does anything for free, but if the miners weren't there, the ecosystem wouldn't be possible. That's why I mean that it is a vital part and that they are the main part of Bitcoin. The best thing that can be done is to support mining.

 

[Margery]

Yeah. Well, nobody does anything for free, but if the miners weren't there, the ecosystem wouldn't be possible. That's why I mean that it is a vital part and that they are the main part of Bitcoin. The best thing that can be done is to support mining.

Agree. Only today I had enough strength and time to connect the motherboard to the power supply and install the processor with cooling. I'll probably continue tomorrow. Still, I'll try to mine Monero, where I read today that the network complexity of the coin has dropped. We will try.

 

[Riberet19]

Agree. Only today I had enough strength and time to connect the motherboard to the power supply and install the processor with cooling. I'll probably continue tomorrow. Still, I'll try to mine Monero, where I read today that the network complexity of the coin has dropped. We will try.

In the end I think that from our conversations the desire to mine monero was born, you really do well Monero is a very promising and really underestimated coin, it is the private sister of Bitcoin and has remained pure since its birth, its creator also remains in the shadows but he is still behind the development of the coin as far as I understand and hides under the pseudonym of Thanfkul_for_today or something like that.

 

[Margery]

In the end I think that from our conversations the desire to mine monero was born, you really do well Monero is a very promising and really underestimated coin, it is the private sister of Bitcoin and has remained pure since its birth, its creator also remains in the shadows but he is still behind the development of the coin as far as I understand and hides under the pseudonym of Thanfkul_for_today or something like that.

Yes, both our conversations and the information that I found played a role here. Previously, Monero was mined only on processors. And now miners have made it to extract it on video cards. Therefore, I want to assemble, properly set up the equipment and try to mine for a day or two. No, of course, if I'm completely at a loss in electricity, then I'll stop the rig or switch to some other coin, or maybe I'll still try dual mining, this is when two coins are mined at the same time.

 

[Riberet19]

Yes, both our conversations and the information that I found played a role here. Previously, Monero was mined only on processors. And now miners have made it to extract it on video cards. Therefore, I want to assemble, properly set up the equipment and try to mine for a day or two. No, of course, if I'm completely at a loss in electricity, then I'll stop the rig or switch to some other coin, or maybe I'll still try dual mining, this is when two coins are mined at the same time.

I understand, you will mine for a few days and you will calculate the profitability between the cost of electricity and the price of what is extracted, right? I certainly didn't know about dual mining but it's good to know now, I've also heard that there are a lot of people mining Ravencoin lately after ETH went to POS, did you know anything about this?

 

[Flower]

Mining is a very lucrative investment and it's going to give you a substantial amount of money if you are dedicated to it. I have seen a lot of mining firm make lot of profit from such expenditure. Expansion of mining facilities could also increase the reward for the firm.

 

[Margery]

I understand, you will mine for a few days and you will calculate the profitability between the cost of electricity and the price of what is extracted, right? I certainly didn't know about dual mining but it's good to know now, I've also heard that there are a lot of people mining Ravencoin lately after ETH went to POS, did you know anything about this?

Ravencoin is not a bad coin either. However, it has some disadvantages when mining. It greatly raises the temperature of the video card chip, it is necessary to install additional cooling. Overclocking from it should be done very carefully, it is specific, since you can burn the processor chip of the video card. Your difficulties.
It is better to take a coin from which the mining algorithm is not so cold.

Mining is a very lucrative investment and it's going to give you a substantial amount of money if you are dedicated to it. I have seen a lot of mining firm make lot of profit from such expenditure. Expansion of mining facilities could also increase the reward for the firm.

I know this because I was directly engaged in the mining of Ethereum until the moment when he left for the POS protocol.

 

[Riberet19]

Ravencoin is not a bad coin either. However, it has some disadvantages when mining. It greatly raises the temperature of the video card chip, it is necessary to install additional cooling. Overclocking from it should be done very carefully, it is specific, since you can burn the processor chip of the video card. Your difficulties.
It is better to take a coin from which the mining algorithm is not so cold.

I know this because I was directly engaged in the mining of Ethereum until the moment when he left for the POS protocol.

So according to what you have said, do you have notions that Monero is better for mining than Ravencoin? Or would you have to try it to find out? As you speak it seems that you have already tried to mine Ravencoin, you probably have done it since you are on the subject

 

[Margery]

So according to what you have said, do you have notions that Monero is better for mining than Ravencoin? Or would you have to try it to find out? As you speak it seems that you have already tried to mine Ravencoin, you probably have done it since you are on the subject

I mined it for a while. To get a good income, a miner needs to try something else all the time, which can bring big profits.
As a result, I settled on the ethereum.
Now I will try Monero first, and then we'll see.
It all depends on the video cards, and on the coin, and on the settings. In fact, everything is quite complicated. It is very difficult for a beginner to get into this, even with top-end video cards.

 

[Riberet19]

I mined it for a while. To get a good income, a miner needs to try something else all the time, which can bring big profits.
As a result, I settled on the ethereum.
Now I will try Monero first, and then we'll see.
It all depends on the video cards, and on the coin, and on the settings. In fact, everything is quite complicated. It is very difficult for a beginner to get into this, even with top-end video cards.

I understand, I wish I knew more about mining to be able to follow your conversation but I really learn a lot about it by talking to you about it, it's always something that interested me in the world of cryptocurrencies but it still eludes me a bit, as I told you once the only thing that I mined was monero and it was with the PC I have no idea beyond that

 

[Margery]

I understand, I wish I knew more about mining to be able to follow your conversation but I really learn a lot about it by talking to you about it, it's always something that interested me in the world of cryptocurrencies but it still eludes me a bit, as I told you once the only thing that I mined was monero and it was with the PC I have no idea beyond that

At first glance, everything is quite simple. You need a computer with a good video card, and a normal power supply. If you mine Monero without problems, then you also need a good multi-threaded processor. The hard drive doesn't really matter. It practically does not participate in the mining process. Find a good mining pool.
Install a special program - the miner and run it. The pool sends you tasks, the video card solves them, and you get a reward for it. After accumulating the minimum payout on the pool, withdraw money to your wallet. Everybody! But this is in short, all the complexity lies in the details.

 

[magnus2022]

When bitcoin is around 17k, a lot of people are so skeptical. Now, the price is shooting up everybody is becoming intrested again in bitcoin. That is funny but it a reality. Success have one thousand and one friends but failure have but only one.

 

[Lens_]

I am not surprised that so many Bitcoin mining company are willing to expand their mining facilities because mining is a very profitable financing if it is well organised by a well informed group of crypto enthusiast. However, such kind of mining facilities is capital intensive and it is not a project to be embarked upon by retail crypto investors.

 

[Margery]

In this case, for the production of bitcoin, huge capital investments are needed. And it's not at all a fact that they will justify themselves.
For a simple investor, it is now easier to buy bitcoin on the market than to invest in mining equipment. Asics are very expensive.

 

[Riberet19]

I am not surprised that so many Bitcoin mining company are willing to expand their mining facilities because mining is a very profitable financing if it is well organised by a well informed group of crypto enthusiast. However, such kind of mining facilities is capital intensive and it is not a project to be embarked upon by retail crypto investors.

In this case, for the production of bitcoin, huge capital investments are needed. And it's not at all a fact that they will justify themselves.
For a simple investor, it is now easier to buy bitcoin on the market than to invest in mining equipment. Asics are very expensive.

Yes, in the case of mining right now it is an option for people with decent capital or who have already amortized the machinery, if this is not the case, the best thing to do would be to invest directly in crypto assets, in addition to these same miners, they also need investors to be able to sell those assets.

 

[Lens_]

Yes, in the case of mining right now it is an option for people with decent capital or who have already amortized the machinery, if this is not the case, the best thing to do would be to invest directly in crypto assets, in addition to these same miners, they also need investors to be able to sell those assets.

I always reckon that the Investment in mining should be done in large-scale in order to maximize the profit. You need a high budget to buy the mining rig because that is the only way to make a very huge amount from the cryptocurrency mining investment.