Should I mine bitcoin?

Should I mine bitcoin?

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youtube.com/watch?v=ELA91d_mx80
nicehash.com/profitability-calculator
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Yeah good luck getting into a bitcoin mine without being escorted off the property for trespassing. You think those places aren't privately owned, stupid?

no

kek. Why not?

about 5 minutes of research will lead you to the answer that buying it would be cheaper and get you a return faster.

if $6 a day sounds good then yes

Nice dubs senpai

No. You should build mining hardware and sell it to idiots.

If it isn't so profitable, why do people do it?
You can buy it?

This is a good thread

Yes, by hand.

People do do it. This is the sort of set-up that you will need. This one is childs play compared to ones in China. youtube.com/watch?v=ELA91d_mx80

Fuck off

>profitable


it is if you build a farm with dozens of high powered comps running 24/7

So if I only wanted to use 1 or two machines, I would be out of luck to make money?

You wouldn't cover the electricity bill, the initial expense on the hardware, or the upkeep on the hardware even if you only had to deal with one of the three.

What kind of upkeep do they need?

nicehash.com/profitability-calculator

start here

How many of you have actually mined bitcoin?

A powerful computer running at full whack 24 hours per day? There are a few things that could go wrong.

How should one pay taxes on bitcoin gains? I held for over 3 years and took some profits this year.

Unless you have an external power source, bitcoin mining costs more than any small operation like yours would bring in. Outlook: insolvent.

Bitcoins aren't taxed as currency until you exchange them for currency.

First In First Out.

>you can buy it?

dude just kill yourself. of course you can fucking buy it.

Bought in 14 and sold in 17.

Should I treat it like a long term stock gain? 15%?

If you live in the U.S., this is false. Bartering Bitcoin is a taxable event.

Yes.

>Should I mine bitcoin?
don't bother. unless you have a ridiculous amount of money to invest in ASIC miners and electricity bills. mining new coins increases with difficulty every single minute of the day. now that there are 3rd world and countries with massive amounts of sanctions investing heavily in 'mining', it just gets that more difficult. (hi north korea, china, russia and the rest of those communist shitholes).

Sure mine millions of buttcoins!

>Should I treat it like a long term stock gain? 15%?
that would be not so bad.. if the price per btc was at a realistic price. investing right now while the price is so over valued will end in nothing but tears and losses.

Go on /biz/

if you are an autist, mine it