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[wierd]

So is every fiat currency in existence.

[Sheb]

So is every fiat currency in existence.

True, but those are usually seen as currencies, used as such, unlike bitcoin, which is seen as an investment.

Anyway, I'm going to make a prediction here. The long-term value of Bitcoin is close to zero. As a currency, it simply sucks for a bunch of reasons, most evident of which is the 7 transactions a second limit. While some other cryptocurrency might eventually end up in real use, bitcoin won't be it, and it's only going to have value as some kind of weird collectable for digital numismatists.

[JamesCorella]

Is there anyone mining here? I've used WinMiner and MinerGate. Still have em, but now i'm using Cryptotab, its just like a plugin, on Google Chrome pretty much. If anyone wants to check it out. Also I put links on the Main post of free faucets to get coins.

Spoiler (click to show/hide)

https://get.cryptobrowser.site/2280919

My referral = P not that anyone cares. Im sure someone here must have something useful, that could help out.

And if you guys do try it out or have any other sites or if you use faucets, post your links and Ill put them on the main post and we can help each other out, if you like. I'll check them out atleast lol.

[Telgin]

And do you make more mining than you spend in electricity?  I was under the impression that with Bitcoin at least even GPUs weren't efficient enough to mine new coins worth more than they burned in power now.  You'd have to use ASICs to make it worth it.

[Egan_BW]

Now, if you go find a creek or something and hook up a water wheel to power the computer, pure profit.

[Reelya]

Mice running in wheels.

[Rowanas]

I don't pay for my electricity - benefits of renting.  I doubt i'll make anything out of it, but it's like that old SETI screensaver stuff.  I dunno if it's still going, but back in the 90s you could download a thing that would hijack your computer whenever it went idle and use it to scan space for signals.  Both are probably pointless wastes, but meh, who knows?

Hey! We should start a Bay12 mining pool!  What could be more dwarfy than mining for shit while we mine for shit?

[JamesCorella]

I don't pay for my electricity - benefits of renting.  I doubt i'll make anything out of it, but it's like that old SETI screensaver stuff.  I dunno if it's still going, but back in the 90s you could download a thing that would hijack your computer whenever it went idle and use it to scan space for signals.  Both are probably pointless wastes, but meh, who knows?

Hey! We should start a Bay12 mining pool!  What could be more dwarfy than mining for shit while we mine for shit?

Yes! That sounds very right and dwarfy to me, Im totally with you.

[Reelya]

I gave up mining because my video card isn't fast enough to get any shares anymore it seems.

If you started a mining pool, what coin would you mine?

A better project would be to get together and work out what we need to actually create URIST as a coin, then mine that.

Although, one modification I'd like to implement is that the default block reward is inversely proportional to the difficulty. What that should do, longterm, is put a cap on the number of people mining for profit, lowering the overall difficulty and meaning that small miners can continue to get some coins.

[Doomblade187]

Ooh, Uristcoin.

Hell, I don't mine and I would do that.

[Rowanas]

An intriguing suggestion which is sadly beyond the scope of my ability to code.

[TamerVirus]

I thought mining profitability went way down the drain with the whole bear market thing going on

[Reelya]

It doesn't work like that. Mining difficulty is a function of how many people are mining. If the value of the coins drops, less people mine (or, older mining gear is taken offline), and the profitability per hash goes up again until it stabilizes.

But it always stabilizes at the point where the most efficient miners are barely profitable. This is because if it happened to be any more profitable than that, there would be an incentive for someone to invest in more ASICs.

So, whether the price of coins rises or falls is immaterial to whether a home miner can make a profit. You can't. There are much more profitable mining ventures, able to adjust their level of mining to always match what the market is doing.

[TamerVirus]

Now I'm curious as to how many folks here actually own crypto, cuz I see oodles of negative sentiment in this thread

[Reelya]

I mined some Doge on free electricity when it was fairly new. I have almost 60000 of them from a couple of month's mining. The peak price was in November of last year during the Bitcoin boom, and Doge hit about 1.25 US cents per coin.

I wish I'd be onto that and sold them at that point, mine would be worth about $1000 then.