Bitcoin mining heats homes for free in Siberia [video]

Re:Bitcoin mining heats homes for free in Siberia [video] by himlion on Friday November 03, 2017 @03:43PM (#15621750)

But if you'd bought $6k worth of ethereum outright in march it would be worth $90k now. That's why I haven't started mining, it only seems profitable in a sideways market.

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Re:Bitcoin mining heats homes for free in Siberia [video] by where_do_i_live on Friday November 03, 2017 @04:14PM (#15621915)

That has a different risk profile entirely.

I could always resell the video cards I bought at near cost. Buying speculative coins is another matter entirely. Further, I'm not mining ETH - if I took your advice on the coin I am mining I would have a net LOSS not gain. You should take another look at the economics of mining, I think you have a few aspects misunderstood.

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Re:Bitcoin mining heats homes for free in Siberia [video] by sliverstorm on Friday November 03, 2017 @05:23PM (#15622290)

I could always resell the video cards I bought at near cost

You sure about that? There are so many miners these days, if the mining market tanks, the used graphics card market will be flooded and prices will likely plummet.

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Re:Bitcoin mining heats homes for free in Siberia [video] by where_do_i_live on Friday November 03, 2017 @05:33PM (#15622342)

I can only speak about right now - not the future. I've already made more than my investment so not a big deal for me.

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Re:Bitcoin mining heats homes for free in Siberia [video] by arcticfox on Friday November 03, 2017 @06:01PM (#15622465)

Right, but we're talking about the past decision's risk profile. Obviously it worked, but it could have gone a number of different ways.

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Re:Bitcoin mining heats homes for free in Siberia [video] by WikipediasBad on Friday November 03, 2017 @08:18PM (#15623115)

I used to mine hardcore back in the good ole days in 2013, first altcoin boom. What are you hobby miners mining these days? I know whattomine.com has charts, but what are some of the favorites these days for GPU and CPU coins that are actually profitable? Monero? Back in my day it was Dogecoin lol

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Re:Bitcoin mining heats homes for free in Siberia [video] by ricardobeat on Friday November 03, 2017 @05:49PM (#15622415)

So, what is it about the economics of mining? It's not like you'll lose anything by sharing.

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Re:Bitcoin mining heats homes for free in Siberia [video] by tylerhou on Friday November 03, 2017 @03:48PM (#15621780)

But that’s also survivorship bias. If you buy a rig, you can always have the flexibility of mining whatever’s profitable, and even potentially not mining when there’s no profit to be made.

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