I am a math/science teacher at a high school and my district gave me 50 computers and 8 routers...

I am a math/science teacher at a high school and my district gave me 50 computers and 8 routers. I will be using each of them to mine bit coins through out the school year and during summer school. Cam thus come back to bite my ass? I'll be using most if the money to buy computers for the poorer kids in this class and some other items(drones, arduino boards, and etc.) for in class usage and personal use.
>Also general bit coin and alternative currency thread.

you aren't going to make any money mining buttcoins ... the electricity costs will outweigh the money you make from miining which will be close to $0

>reading comprehension

cpus and even gpus are too shit to mine bit coin dumb ass. People use special customised asics. Go and mine ethereum or something easier instead. Probably you would make more money selling all the computers.

Tell me OP, how exactly do you plan to mine more than $.10 a year on a bunch of old dell shitboxes.

Ever heard of mining difficulty and ASICs?

>not creating your own gimmicky shitcoin
>not premining 1% for "future development costs"
>not dumping the entire premine at 1 satoshi
This is the only profitable way to do crypto

Bitcoins are memes now

Find other cryptocurrencies to mine

This
This is the only way to make a shekel nowadays in the crypto world. Do it like once a month.

>doing criminal activity
>to buy computers for porfags

are you stupid? wouldnt it be suspicious if a fucking teacher gave out computers to his students?

>Cam thus come back to bite my ass?
Absolutely.
>I'll be using most if the money to buy computers for the poorer kids in this class
This is probably the worst part of your idea.

Not saying it's not a good thought or whatnot, just that the most likely thing to happen to those computers is their parents or other family taking them with a high possibility of the computers being sold extremely cheap on CL or some shit.

Though, you'll get caught before you're able to afford anything if you're gonna mine bitcoins.

This isn't a public high school(I should have clarified from the start). All these computers were purchased with money from investors. I am certain that they could mine.
You're probably right, I just feel sorry for some of these kids because their parents paying for them to attend is in some cases leaving them without proper food at home.
I don't pay for electricity the district does and they'll just have another fund raiser, put up a billboard, and cover the cost.
I don't want too get fired and then sued by a board of fifteen investors with big black wallets and small brown shoes.
Not really. The idea is still new too me but, I'm sure if I asked the district for it they would say "yes". They haven't said "no" to any of my request thus far.

on what planet do you live that teachers pay the electricity bill for the school?

as for OP, yes, this would definitely come back to bite you in the ass. you're basically running a botnet with their computers. just because you're not attacking other computers doesn't mean you're not subverting their policies and using their computers for their own purposes.

and using the money to buy school materials might be even more retarded. you're basically suggesting trying to get away with something you know you shouldn't be doing, and then turning around and using this nebulously sourced money at the scene of the crime. what do you think the school admins are going to ask when you show up willing to shell out money on drones and shit?

honestly, OP, every aspect of this plan is insanely stupid. if you really want to mine bitcoins with someone else's hardware, get their permission. if you think there's a net positive effect to this plan, then the school should be up for it. but there won't be, because mining would require huge hardware outlays to be viable, and something tells me your educational computers aren't specced for it.

Not the electricty cost, it's the difficulty

>I am certain that they could mine.
you might be certain, but you are almost certainly wrong. bitcoin mining has become a field of very dedicated hardware. if the machines don't have application-specific integrated circuits for mining, you're not going to make any appreciable sum.

there are ways you could justify this to investors (e.g. if the computers are running 24/7 anyway), but in any case where you could use the latent computing power to mine bitcoins, the more financially responsible thing to do would be to either
- turn the machines off every evening
- sell the machines
- rent the machines out during non-peak times (like a lower end version of AWS)

>plan to embezzle thousands of dollars worth of electricity using school computers
>"Doing it for the kids"
>math/science teacher
>mfw 50 Compaqs get sent to the recycling center before any has mined a full bitcoin

Spend $20 on an asic and it will do more than all of those computers combined

So, I talked it over with the Deen and he's planning on getting the district too help me. Apparently he thinks its a great way to introduce kids to small business in a technology environment. I just told I'm about the hardware and he said he'd order 15 per block period. Now this thread is going to be me showing you guys how slow change can be in the school system. (I'm worried that this could constitute as child labor although they wouldn't technically be doing jack)

>I am a math/science teacher at a high school
>I will be using each of them to mine bit coins
not sure if retarded or just pretending

>>Also general bit coin and alternative currency thread.
your post is too weird for this context, I'd guess it's bait

You'll be lucky to generate one single bitcoin in a school year at this point considering the difficulty and the sheer amount of electrical power will hurt your budget more than your pipe dream of making money for more materials.

Don't be a dick, Dick.

>a machine does work
>CHILD labour
That's almost like saying engineering schools which teach about solar panels are bad because they mostly have solar panels on their roofs and students are made to look at them and research them. Education can't be interpreted as labour as long as you're not using the children's computers (school still owns those right?).

URGENT: Have you fucked any of your students?

You could try mining other cryptocurrencies and not just bitcoin. If you want to mine a cryptocurrency on a normal desktop machine without the help of ASIC hardware than I would suggest you start of by mining feathercoin.

And as a few other people said, its not worth using the electricity or the computer power to mine bitcoin, since the difficulty is now sky-high.

Could get you fired and it won't do anything financially. Most mining clients cause Antivirus issues, and using the computers this way may tick off your IT admins.

Bitcoin is ASIC mining now. Even buying an ASIC you will unlikely break even. Most school workstations don't even have power GPUs so other altcoin mining may also be out of the question.

Likely, the only thing you could mine is a CPU based altcoin or some project that rewards for CPU usage.

Another warning is most people automatically associate Bitcoin with illegal activity. If the students tell their parents, expect a bunch of complaints about teaching their children how to buy drugs online.

I'd guess OP would generate 0.00005 BTC with 50 computers 24/7 mining. 3 cents.

You can't unless those computer have a Titan x or a FPGA

If you don't want to get fired, then why are you asking here? Read your contract, choice of conduct, and other related materials.

>math teacher
>can't calculate how absurdly small the chance of generating enough BTC with the few computers he has to make any kind of money actually is

Cool story, bro.

Not anymore. 3-5 years ago it could be worth the trouble but now you'll be making close to zero money AND you'll lose your job.

If they would do a fundraiser for the electricity, then just do a fundraiser for the poor kids computers. Mining bitcoin with PCs would be a net loss. You plan is not effective means of achieving your end goal. Using them for some BOINC project like primegrid would be a better option as at least you could make it educational.

This is how stupid buttcoin "enthusiasts" are. Willing to put their jobs at risk for virtual currency that nobody gives a shit about anymore.

you're late to the party, this is the totally wrong mindset.

You're skating towards where the puck is instead of where the puck is going.

I'm just gonna remind everyone in this board how many naysayers shat their pants on the first crash in 2013 but we carried on on struck gold and got minted in 2014

ROI 1000% niggas and haters gonna hate, alot of gentoomen moved to /biz/

the rest is Sup Forums history

The fun part about the embezzlement, is that he barely sees any of it. You barely earn anything mining with CPU, even when not calculating the electricity cost

Didn't a gentooman buy a Lambo with bitcoin?