No different from any fiat currency other than with fiat the 'mining' is completely cost free. Whereas with Bitcoin mining is paid for in electricity bills.
In a rural area with the proper graphics card and a low power subsystem Ethereum is still viable.
In my part of Montana I pay more in delivery fees hookup fees and other crap fees every month than I do for my electricity.
Most people in these rural areas either have electric heat or wood burning stoves.
SO, if you have electric heat it only makes sense to press your gaming PC into mining duty while you are at work.
Either way you are using electricity to heat your house....i suppose.
At 8.5c/kWh in my area Ethereum mining still makes sense.
The next major town over is a little more economically depressed so power over there is only 8.2c/kWh
In my part of Montana I pay more in delivery fees hookup fees and other crap fees every month than I do for my electricity.
Most people in these rural areas either have electric heat or wood burning stoves.
SO, if you have electric heat it only makes sense to press your gaming PC into mining duty while you are at work.
Either way you are using electricity to heat your house....i suppose.
At 8.5c/kWh in my area Ethereum mining still makes sense.
The next major town over is a little more economically depressed so power over there is only 8.2c/kWh
Last edited:
In essence we are simply exchanging €$£ FIAT for BC disguised as an "electric bill", pointless energy waste.
Yeah, the main problem of the regular mining is its enormous power consumption that you have to maintain in order to keep your profit stable. The thing is, most of the people I know prefer cloud mining via genesis contract Genesis Mining Review 2018 | Genesis Mining Profitability and ROI | CloudMiningPro without worrying about giant bills. Though their income is slightly smaller, they have no problems with electricity at all.
Cryptocurrency mining isn't for everyone, and it might seem daunting even if you are interested. Mining is one activity you can’t miss out from when using cryptocurrencies. Mining involves a lot of technical know-how and there are several tips that should be considered when doing them. The most mined cryptocurrency in the world is Bitcoin with a high number of hash rates per second.
Electricity isn’t the only cost of mining. GPUs and power supplies eventually burn out and need to be replaced if running at full tilt for months on end. There is probably some optimum hash rate for a given set of hardware - in terms of dollars of profit per dollar of hardware cost over its lifetime. And it’s probably not at 99% of rated load. Do that with audio amps and you’ll be replacing output transistors every couple of weeks.
- Status
- This old topic is closed. If you want to reopen this topic, contact a moderator using the "Report Post" button.