Bitcoin mining

What do you guys think about these mining cloud service out there that offer to mine your coins for a little fee? Would you recommend any?

It sounds like a good idea but I'm yet to find any really legit one. I know for fact that there were some legit ones back in the day but now all of the ones I've found looks like scam. I know a youtuber who recommended hashflare.io to his viewers back in december but then months later hashflare turned out to be a scam site apparently.

But would be nice if there actually was one out there which was legit and where you could make profit.

So basically like this site : https://hashflare.io/ (but this is scam)
 

Alpha_Romeo

Kingfisher
Alpha_Romeo said:
If I have an old laptop and I want to re-purpose it to mine bitcoins as a side hustle (obviously not my main source of income), can it be done (assuming access to free/cheap electricity)?

I suppose a faster CPU is better, but are there any other aspects I should look at, for example the operating system (Windows vs Linux)? Would I need to maintain a constant Internet connection? Which coin would be best to mine or make it all worthwhile?

If these questions sound Noob-ish. Well, I am new to this and willing to learn.

But the common thing to do is donate your computer power to a large communal pool of machines to multiply the collective power and get a fractional (but easily obtained) amount of those 25 coins.
I would be up for this as well.
You are about 6-8 years too late. You need an ASIC farm and cheap electricity in 2018 to mine Bitcoin profitably now.

Assuming free electricity you are better off farming altcoins but you will need a dedicated graphics card to do this, these are expensive and they take 1-2 years to pay for themselves now. If you have free/cheap electricity (ie China, Iran, Argentina) and some modern GPUs lying around it might be worth it.

The standard advice for mining is don't do it. Instead buy Bitcoin or ethereum and hold it.
What about mining altcoins?
 
Cloud mining: some are scams others seem legit but they are dropping like flies now that the mining business is not profitable with the price collapse. Some have lost investor money by exit scamming or being hacked so I don't trust them.

Mining altcoins: check out https://www.coinwarz.com/cryptocurrency for mining profitability of various altcoins.

Like I said before you need cheap/free electricity and modern GPU's (RX 580 and up) to make a profit. CPU mining is not really a thing unless you know how to hack hundreds of PCs to CPU mine monero for yourself.
 

king bast

Woodpecker
Prices of gpus are coming back down to a reasonable level (rx580s for $300 AUD) but its the cost of electricity that was the real killer. I would like to mine again, but until I can cover ALL my power requirements with solar power and bitcoin prices get back around the ATH, it's just not profitable.
 

ms224

Woodpecker
ASICs are cheap as ever and solar for the most part is a scam.

Best time to mine is when prices are in the gutter.

Hey OP are you really in Iran? How open is the internet there really?
Whats your price for electricity?
 
I mentioned Iran. Mining over there seems very viable with electricity costs being like 3¢/kWh. The only issue might be purchasing or buying your GPUs associated rig parts from overseas there.

Argentina seems like a no-go despite free electricity. People getting jailed for mining. People there have adapted by keeping only a few rigs in individual houses, no more farms.

Most other places like Australia, don't even think about it. The electrical costs are beyond stupid.
 
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