How much computer power is required to mine bitcoins at a sizable rate?

How much computer power is required to mine bitcoins at a sizable rate?

A metic fuckton.

More than you will ever be able to afford.

Farms

They actually make dedicated hardware for this shit now, it's gotten so out of hand.

>let's make a decentralized currency!
>hey let's also make difficulty increase in time so in couple of years only big companies could afford it!

ASICs were a mistake.
Glad ether requires VRAM so it won't depreciate compute power as fast but damn...
If only it wasn't inflationary...

this is a prime example of how the rich get richer

if you have a million lying around, you can use that million to buy a way to generate even more cash.

but for a home operation to run while i'm away at work, what sort of computer hardware do i need to make a few hundred dollars a year extra?

>sizable rate

You'll need a few ASICs easily 10+ grand in price to cover power costs and upgrades to keep the farm going.
As well as vigilance over the market price of the coins to know when to pull the plug if power gets bad on a drop.

Try other crypto currencies.
They may be small but you can dual mine some and convert what you do mine into BTC.
Hell there's even proof of space that uses raw hard disk space to net you coins these days.
Pennies a day though; all of it.

Poor can get richer too, it's just harder not to be a nigger and squander money.

The better question is... what kind of rig (Nvidia or AMD?) do I need to mine an alternative coin which nobody knows about and should be the easiest possible coin to mine in order to amass millions and then hope it someday reaches 10$ a coin and has a sizeable volume like Litecoin and Ethereum.

Why don't you just altcoin trade like a real Wallstreet professional?

Bittrex.com
Poloniex.com

>the poor are poor because they squander money
>people who get 700 bucks a month and have to spend 550 on rent, may never get sick because no insurance are just lazy and squander money

we know you're born retarded so at least be silent

All of it

Is there something which lets me turn electricity into money?
Let's say I use a badass 1500Watt source. Let's say I overclock everything and normally it would cost me a fortune on electricity.

Now what if you didn't have to pay the electricity you used from the power cores and graphics cards?
Normally you'd get to keep your 10 to 30% gains, but is there a rig or method which mines bitcoin primarily on electricity and I can see 300% gains? Basically my first question from my post.

If you are living in USA, one of the richest countries in the world, where median income is 40ish k per year and you earn 8k pa, you are a fucking retard and you deserve to be poor. You are probably spending it on iPhones, Jordans and beats, you nigger.

Some people simply deserve to be poor, because they are stupid and lazy. I've been poor, homeless even, due to external circumstances. Haven't stayed that way for long because, guess what, earning money to survive is easy if you aren't stupid or lazy.

>Now what if you didn't have to pay the electricity you used from the power cores and graphics cards?
>Normally you'd get to keep your 10 to 30% gains, but is there a rig or method which mines bitcoin primarily on electricity and I can see 300% gains? Basically my first question from my post.

Tl;dr no, but look into bitcoin mining calculators.

You probably can't steal enough power to make it worthwhile.

Good thing I bought all my shit when btc topped out at around $915 on the 23rd.

This.

Not possible to do these days. Because even if you buy a data center the size of nevada and filled it with computers you still won't ever pay back your investment. Only people who already have a dedicated data center filled with equipment they already paid for can earn money. They barely get a little bit more than what they pay in electricity.

Big companies can not afford it unless they use equipment they already have earned the money back on and which they don't use for anything else.

>but for a home operation to run while i'm away at work, what sort of computer hardware do i need to make a few hundred dollars a year extra?

Computer hardware worth thousands and especially cheap electricity.

>I have no idea what I'm talking about
Yeah some poor people are poor because they are retards, but that's not usually the case. Minimum wage workers aren't always there because they were retards. I lived on disability income ($500/m) for a few years and I had a master's.

>$8400 per year
You shouldn't be living off a paper route.

>Why can't I become a millionaire while living off government money with no job
There's your problem.

tfw i still don't understand how bitcoins are made and why they worth money, and i'm too lazy to find the answer or watch 5min video for dumasses like me

Bitcoins are made by smashing prime numbers, sorta like how protein folding works

Bitcoin are worth money because there's a limited supply of them and people are willing to accept them as payment. Which basically means they're backed by darknet weed.

Bitcoin was designed to get harder to mine over time so that supply stayed limited (otherwise Moore's law would shit out infinite buttcoins)

>strawman
>he thinks $500/m is enough to live on
Okay

>>I have no idea what I'm talking about
>Yeah some poor people are poor because they are retards, but that's not usually the case.
Lol
Dude, I've been poor and around poor people
They are braindead. They waste money like they found it on the street. They put in zero effort into stopping their poverty.

>Minimum wage workers aren't always there because they were retards.
Who said anything about minimum wage? Minimum wage is perfectly okay, you can survive on it.

>I lived on disability income ($500/m) for a few years and I had a master's.
Woe is me, you sucked the welfare tit and remained an unambitious faggot. What the fuck do you want, a 100k starting UBI?

Then get a job you pathetic retard.

Join a shared pool.

unless I can fucking buy them with paypal without needing people to fucking vouch for me or needing 10+ transactions or a photo ID or any shit like that I'd go for it - I'd even pay with paypal, wait two weeks then have them send me the BTC if they had good fucking ratings

>disabled
>get a job
Lel

Aside from your mental disability, you being able to shitpost here shows that you have enough ability to at least do freelance coding or web design. Bigger retards are doing it. You can get ready for a entry level job with anything computer related within a year. You can camwhore to people with disability fetish, that's probably the most lucrative here tbqh. You have a computer and Internet access you lazy nigger.

But no, it's easier to cry about not having enough welfare.

I'd be wary of Bitcoin because of the current Assange Blockchain thing

>freelance coding or webdesign
Why do you simply assume people have skills like that, or that disability can't be related to mental illness? Why is it so hard for you to admit that you're wrong?

>>freelance coding or webdesign
>Why do you simply assume people have skills like that
>You can get ready for a entry level job with anything computer related within a year.
Why do I assume lazy people have reading comprehension or bother to read or learn?

>or that disability can't be related to mental illness?

Well great, sorry, hope your special snowflake syndrome doesn't stop you from shitposting on neet boards. You do know that there are several schizo streamers taking donations because people are interested in their daily lives?

>Why is it so hard for you to admit that you're wrong?
Christ. Fine, I'm wrong, you're right, you're doomed to poverty because of things beyond your control and there's nothing you can do about it, so keep enjoying the $500 neetbux. If that's the mindset you want to have and life you wanna live, be my guest. I just consider you a loser who refuses to get his shit together and finds excuses not to improve his life.

>special snowflake
Stopped reading here. You're not more intelligent or credible than the thousands of doctors and researchers that spent decades writing the DSM.

That's what you took away from that post?

>I am completely useless to society, I'll refuse to ever try to improve, I don't want to try and earn money, I don't wanna learn anything, nor apply myself in any way.
>why am I poor? btw this no strings attached free money so I don't starve is inadequate
How does a rational adult become like this, this scares me.

Man, you are a fucking lazy retard, whatever's wrong with your head has nothing to do with it.

Is it worth buying 1 BTC if i have the cash right now?

I have no other bills. I have no loans or anything..

Should I buy one now and then what? Sell it a year later?

If you want me to respond to your posts without dismissing them halfway through you should consider not designing narratives in your head about people with no evidence.
>completely useless to society
Yeah. In my case it was temporarily and I'm working now.
>refuse to ever try to improve
Not true.
>I don't wanna learn anything
Not true.
>nor apply myself
Not true.
>why am I poor?
I didn't ask this.
>so I don't starve is inadequate
Yes. It's inadequate because it fails to fulfill its purpose (so I don't starve or become homeless).

Do you want to have a discussion or do you want to make sweeping generalizations, indulge in armchair psychiatry, and just generally be a bellend fuckface?

Do it. Once Trump implements harsher tariffs on China it's going to skyrocket.

>If you want me to respond to your posts without dismissing them halfway through you should consider not designing narratives in your head about people with no evidence.

Oh God how will I sleep at night.

>>completely useless to society
>Yeah. In my case it was temporarily and I'm working now.
Great, what's the problem again? Oh right, you got offended by "poor people are lazy". If you bothered to read instead of getting offended you'd notice I mentioned I was poor as well due to circumstances out of my control. I didn't stay that way because, here it comes again, I wasn't lazy and poor like other poor people. Good for you, you didn't stay that way, it was temporary, you don't seem to be a lazy retard. Is that what you want to hear?
>>refuse to ever try to improve
>Not true.
>>I don't wanna learn anything
>Not true.
>>nor apply myself
>Not true.
I mentioned several ways of lifting yourself (or a person in a such position) out of poverty, which you dismissed because you were offended. They still exist, even if you can't acknowledge them, and they are a real way for someone who isn't a lazy retard to get a decently paid job.
>>why am I poor?
>I didn't ask this.
No, you just want people to legitimise the state of poverty and say it's okay. "Ooh, I did everything right, I wasn't supposed to be poor."
>>so I don't starve is inadequate
>Yes. It's inadequate because it fails to fulfill its purpose (so I don't starve or become homeless).
I can't really prove or disprove that $500 is enough to scrap by, it's location dependant. In any case, you do realise it's welfare, it literally exists just because people around you have enough empathy to feel bad about people unable to earn money starving to death? It's not supposed to be income replacement and in your case probably not intended to be permanent.

>Do you want to have a discussion
Discussion about what? I claimed poor people are lazy and retarded. I can obviously concede that not all of them are that way (having been poor myself), but it turns out, for those who aren't its a short lived state. Poor is a mindset comprised of "qualities" I mentioned; refusal to manage money according to their means, to improve, learn or gain employable skills.

> or do you want to make sweeping generalizations, indulge in armchair psychiatry, and just generally be a bellend fuckface?
Again, you are offended because I called you a lazy retard and invalidated your disability, whatever it is. You haven't made any arguments against my main point, you just want me to say your specific case, which is in reality a huge minority of poor people, an acceptable reason to be poor. I can concede it's an okay reason to become poor, but it's a very shitty excuse to stay poor.

the electricty to run a budget home setup would be more than the coin yield

>buying when it's at its highest price ever

KEK, investing isnt for you senpai

You think its going to drop?

>what are you gonna do, stab me!? - stabbed guy

>Literally posting a 2 month chart after one of the most controversial elections in US history.

Older fucker here. BE CAREFUL. These "this time it's different" things usually don't end well. The difference between youth and age is the ability to discern recent events from history.

Don't go stupid on this.

it looks like it works.

>If you live in the USA and don't make the $40k median salary you are a lazy retard
>making lots of money is easy if you aren't a lazy retard.
I'm not sure what you want me to say because you're intent on invalidating anything that contradictory to your claims. Being poor has extreme effects on mental health and opportunities. It's not simply about being lazy. You could learn some programming language (assuming you were just wealthy enough to be poor but not homeless or working 2 jobs) and still remain poor because no degree or portfolio over a period of time likely means no decently paid work. Mechanical turk isn't much better than working in a warehouse.

Additionally, you can't expect everyone to be intelligent enough to do these things. Freelance programmer or webdev is generally worthless unless you're very good (intelligent).

Finally, in the USA, if your parents were poor, regardless of your intellect, you are MUCH more likely to stay poor or around their income than you are to make considerably more than they did.

the difficulty of mining a block is not based on the increased time since bitcoin started but on the total calculation power available. if tomorrow everbody says "fuck bitcoins" and stops mining, you get a good chance of being able to mine with your PC again.

A singular person will most likely lose money at this point. It's not worth.

But wouldn't that be around the same time that everyone says "fuck Butcoin, it's a scam pyramid scheme" ?

Most of those farms are in rural China now because electricity there cost like .02 kwh.

You guys are both retards. If there was an infinite amount of bitcoins the value would progressively drop until Bitcoins are worth basically nothing.

There are two times to make fortunes during manias:

1. sell shovels and / or land leases to new miners
2. buy shovels and / or land leases to busted miners

The whole bitcoin thing is a classic example of a Dutch Mania. Get out with your asses while you can. This shit doesn't end well, millennials.....

I'm not in. We're past the rush. It's way too high risk now.

Just pointing out the retardness of "hurr durr I want infinit money"

>current year
>mining bitcoins
It was at least somewhat viable back then but unless you want to spend a fuckton of money on a dedicated miner it won't be worth it in the long run unless you join a pool, even then, bitcoins aren't really viable rn.

I know your a troll but you do know that corporations are the biggest recipients of welfare, right?

I quoted wtong dude

this

It's the same logic as printing a bunch of money to end poverty.

too much
that trend is ded